Bitcoin Forum

I had a thread for best stablecoin, and people were suggesting to DAI as it is decentralized. I still don't have much information how this works. Can DAI be out of the risk as the risk USDT have? Will it be a good idea to move my USDT to DAI?

Many centralized exchanges (https://coinmarketcap.com/currencies/multi-collateral-dai/markets/) support DAI and its volume rises since September of 2020. As DAI is a decentralized stable coin, not centralized as USDT so if you are caring about decentralization and risk of stable coin freeze in your wallet, let's go with the DAI.

Beware of some upgrades are planned for DAI multi-collateral stable coin.

Volume of DAI (https://coinmarketcap.com/currencies/multi-collateral-dai/)
Single-Collateral Dai to Multi-Collateral Dai Upgrade Timeline and Actions (https://blog.makerdao.com/single-collateral-dai-to-multi-collateral-dai-upgrade-timeline-and-actions/)

DAI is well supported by many exchanges but don't compare the volume to USDT, also centralized or decentralized don't mean much in crypto space because they are both not perfected yet, it's better than we have both sides in crypto space, I heard rumour that SEC can be on USDT ass soon but still I just prefer USDT more

I think if you are planning to hold a stablecoin for long term, then it would be better to do so with DAI, reason is, it is decentralized and a bit more secure than its counterparts. Another reason is, it is supported by many exchanges now, and with some sort of fud surrounding USDT, I guess more people will start going for a secure stablecoin, and that's where DAI will come to play. But if it is in terms of daily trading, then I think USDT can be better, because it has more volume, more trading pairs and supported by all exchanges. USDC is another to look into, but it still has same properties like USDT, that is, it is centralized as well, thus making DAI an even better alternative.

Why would DAI be the solution to stablecoin? Where is USDT because this is the best stable coin in crypto world right now, centralized or decentralized I don't care, USDT is big enough and I believe it's right on top of every other stablecoins if not, top exchanges won't paired USDT to other coins on their exchanges, USDT got the more love that DAI, for now though

Some day if shit things like lawsuits on Ripple knock the doors of Tether USD, you will see why there are few stable coins on the market and why people try to create and use decentralized products. Centralized and decentralized stable coins have their plus and minus points and each person has different demand and reasons to choose one to use.

USDT is dominating the stable coin market but DAI is rising very good this year, in trading volume. I see it is too soon to talk about flippening between USDT and any stable coin or DAI. But there will be something changed in the stable coin market.

I would advise you to divide stablecoins into at least 3 parts: USDT, USDC and DAI.
USDT has unresolved problems with SEC, and it is not clear how this game of cat and mouse will end.
I keep most of the money in the DAI stablecoin, at any time on the uniswap or a similar exchange I can exchange my stablecoins for others.

DAI is doing well now and I believe it will be fine in this bull season but when bear market start that is when the issues people have been raising about the token will resurface. There are still some fundamental issues with DAI, the token is Decentralised but the governance structure is not and is just not used for the interest of everyone

DAI still works, and the proof of this is its cost of $ 1. As the DAI continues to maintain its peg to the dollar, confidence in it is growing. DAI plays by its own rules because it allows you to transfer dollars in any amount quickly without commission, across the border, without checks and interventions.