Bitcoin Forum

If I missed any, please post in the comments below. Also feel free to share why you voted for a particular coin.

I don't know all the coins you listed. But first time I heard about Tether I have to confess I was amazed by the concept. Genius idea, credit when it is due.
I know there was some manipulations going on involving Tether but the original idea was very suited to the crypto world. What other coins impressed you?

UNO

Honestly, I don't really think stable coins backed by fiat currency is the way to go.. though, Tether may be a better option than the other ones. But this coin is not totally stable.

I'm with the crypto assets backed by precious metals, like gold and silver. These metals are proven to be stable in price globally. Gigzi is one good project that will use Gold, Silver and Platinum to back crypto-assets price. ..I think this is a better stability than fiat.

As far as i know stablecoins are just names and not backed by real fiat $ dollars, Its only just a title in my own opinion crypto-currency works in "Supply and Demand" how can they control the priced if the dumping of the so called stable coins has occured? Stablecoins for me is like a riddle that needs to be answer and carefully explained how it works in such kind of situation such as unprecedented dumping! But if im choose one its "USDC its quite interesting how it will sustain its value in times of heavy dump!

That's great point. This is why both BitBay and MakerDai have been the most interesting to me so far. They are both controlling price without the need for fiat.

I chose Theter, because I am one of the holders of the theter, and when the market falls, Theter is still stable, and there is no significant drop or decrease in price,
this indicates that the theter is one coin with good stability.

But what happens if/when the US Dollar experiences volatility? Will Tether also experience those fluctuations since it's directly pegged to it?

Not sure if there is a stablecoin in the cryptocurrency universe. Most of them are very volatile, i think the most  stablecoin is usds or usdt.

I do not understand the question what is the most craziest.
But for me the most trusted stable coin is Gemini dollar, first fully regulated. But not many exchanges support this coin (Binance for example) :(.

I can't understand what's with "craziest" but I'd choose gemini and circle.

In the poll I read this,

I just wonder why a stablecoin needs to control their prices. I'm sorry I really could not get what you are referring.

Stablescoins may be the need of traders who are all want to lock their profits from the fluctuating cryptocurrencies. Other than this I'm not aware of any special benefit of having a coin which will be having same value all the times. Moreover, why we do need these many same functionality based coins ?

tether is only I know the stable coin even the market is down at 80%, tether is alwayz around 1usd, I don't know the rest of them.

I do not understand what is the point of creating stable coins, which are not such, and in principle the demand for them went only because of the fall of the market.

The point is when you are aiming to get the stable value without any volatility that acts like the fiat money and then the stable coin is the answer to that problem. When someone interesting to trade with stable money and they will have stable profit too.

I personally still like to use tether and gemini in every trade that I do, but not to hold it for a long time. Maybe the OP must clarify the intent with craziest, because everyone is confused to answer your question.

USDC is also similar to TUSD. TUSD should be included in the poll. Both are audited stable tokens in the eth network.

Of course yes. But it's not a big issue. First, US dollar is not very volatile is the first place. Second, people who buy Tether know this anyway. They just buy the coin for obvious purpose: "take a break", or "secure a profit", that's why the concept of Tether is extremely smart. I am personally a big fan of this project.
Back to what you were saying, Bitcoin was actually a good way to protect yourself from inflation, but if you live in unstable countries (Venezuela, etc.), if your banking accounts are in US dollar I do not think you have to worry in the short or middle term (and even long term).

Sorry about the confusion, title has now been changed.  :)

I believe we cannot ignore the need of stable coins in this modern crypto era as the applications of such stable coins is being innovated now only. I mean to say people may come up with more innovative ideas for having stable coins. At the same time I'm not seeing any future for this stable coins as they will keep on circulating from the devs and then simply going back to them. People may not hold for longer and due to many availability of these coins, success for most of these coins may not be possible.

I believe he's denoting about controlling the supply of coin and circulation. Because, a stable coin cannot have some unlimited supply on its own but it should be based on some reserve. As far as I have learned, tether is maintaining USD balances for their stable coin's circulation. Most probably he meant that.

I admire only 2 stable coins. The first one is usdt, because without usdt whole crypto economy won't exist and second one is DAI, because you can take crypto backed loans there. It is awesome

Does DAI's reliance on Ethereum's network present a vulnerability? What happens to DAI if ETH fails to scale or further centralizes?

I had some experience in working with Tether and BitShares. I have been tried to hold these coins but without any significant result eventually. Maybe for keeping savings these coins are good but not for making profit, not for trading of course.