[CREATE] New Tether (Like) Cryptocurrency 🔧

[Eviosa]

I have had this idea about a new currency that is based on a physical thing, just like Tether is based on the US Dollar.

The currency I'm playing around with has to update itself and not be affected by the market (Cryptocurrency market).
The currency would only drop or increase in value if the physical thing decreases or increases in value.
Is this possible?

[PEG-TOKEN]

I do  understand the concept here.

You say you want to make a currency that is like tether. But you do not want the value of the currency to fluctuate dew to market activity but only on the value
of physical items? ( Would this be like gold and silver price?)

The way tether works is they "peg" the value 1-2-1 in USD. It is very much like what liberty reserve system was like many years ago where $1 was always worth $1 deposit.

You would need to work out how your price would be effected by the physical item you talk about.  For example.

If it was pegged to Gold then you would want the price action to mirror the spot price of the commodity at the time.

You would need to submit some more info regarding the idea for a more in-depth response.

Peg.

[Eviosa]

You understood my idea perfectly.
But is it even possible to let such a currency be decentralized?

[PEG-TOKEN]

You understood my idea perfectly.
But is it even possible to let such a currency be decentralized?

I understand the concept behind this but my main issue with the idea is if in fact you are peg the asset to gold or silver then it would never be classed as decentralized.
The gold and silver markets are heavily influenced by government the price is manipulated more than you would ever guess.
The spot price of gold can fluctuate wildly so I would guess that is not the best asset to base your idea on.

So my concern would be the fact that the asset value would be controlled by something that is 100% central.

You would require to peg the asset to something that is non-centralized to ensure there is no manipulation of the price.

[Eviosa]

Does an asset like that even exist?

So if we peg the asset to something like gold or silver, we wouldn't have it decentralized. But what if we then forego the decentralized route, would it even be sustainable?

[PEG-TOKEN]

Does an asset like that even exist?

So if we peg the asset to something like gold or silver, we wouldn't have it decentralized. But what if we then forego the decentralized route, would it even be sustainable?

Tether is not decentralize by any shade it is run by a company who are in control and it is pegged  "or they say it is" in a 1-2-1 ratio of USD in some bank.,.

For something to be truly decentralized it requires a  process of distributing or dispersing functions, powers, people or things away from a central location or authority..

When you attempt to peg something to say an asset like gold it would require you or someone to be holding that in reserve somewhere which would always require a central actor being present.

Unlike the bitcoin price where market demand and market cap order books, supply and demand dictate the market movements and price once you start to lock coins to real world assets that would always require central authority of some kind to be in play.

[Eviosa]

Can a currency like Tether be made with the waves platform?

[PEG-TOKEN]

Can a currency like Tether be made with the waves platform?

You can create tokens on the waves platform, 
though you should note that you may require to provide proof that your token is indeed linked to the resource that is backing it or people may not take any interest in the project.

I have played with the waves platform and I was impressed with it though I think you should code a bespoke contract or token for your needs.

[Decoded]

You could create a token on WAVES/Ethereum, and create a main exchange platform for tether to be traded on. And then force orders for other cryptocurrency es at a locked price. No buy/sell orders. Other exchanges could have buy/sell, but your fixed prices would mean a really strong price lock.

[Eviosa]

You could create a token on WAVES/Ethereum, and create a main exchange platform for tether to be traded on. And then force orders for other cryptocurrency es at a locked price. No buy/sell orders. Other exchanges could have buy/sell, but your fixed prices would mean a really strong price lock.

Is that what Tether is doing?

[KingScorpio]

You could create a token on WAVES/Ethereum, and create a main exchange platform for tether to be traded on. And then force orders for other cryptocurrency es at a locked price. No buy/sell orders. Other exchanges could have buy/sell, but your fixed prices would mean a really strong price lock.

Is that what Tether is doing?

tether is officially banking established communal fiat currencies in exchange for their token,

everyone smart that understands this business model knows they are scamming everyone, they were recently hacked and 30 million USD tether were stolen, do they have USD for this?

not likely but still people pay now already 1.05 for a USD tether, they benefit largely from their co ownersship of bittrex


i work also on such a project, i once came up with the idea of a tether clone so people can hedge their risk, the market has demand for this actually

you can be successful with a tether clone too, if you arent determined and finish your product you cant be successful you can pm me

you cant avoid the markets perception even if you all the time admit that the banked physical assets are the token owners property, they will still mistrust you, its their natural behavior

a huge problem you will likely face is the public listening since, it has become unfortunately like a corrupt sect, which abuses its power

regards

[LEINADbtc]

I don't think you'll be able to pull something like that off...
Eve if you can, It'll be hard af.