BTC Pegged Altcoins? Are that useful?

[BusyShows]

There are many bitcoin pegged altcoins there in the market but none has the value grade as the bitcoin. Only bcaked by bitcoin can give them the initial name for them but most of them does not have the potentiality to go by or stay put. Bitcoin pegged, to advise according to me, is a great loss. Oneshould keep away from it.

[Airelves09]

The stable coin USDT is the US dollar. Because it is relatively stable. It can encrypt when the market fluctuates too much. Maintain market stability. Because BTC is unstable. So it is very difficult to match it.

[pawanjain]

I don't think there are any coins that are backed by BTC and neither do I think there will be because bitcoin is itself a decentralized currency meaning nobody has the control over it.
If nobody has the control over it how come can it back any other asset or currency ?
I think you got your answer now. Also, there are coins that are a modified version of bitcoin i.e., the forked coins like Bitcoin cash, bitcoin gold etc.. which claims to be a better version of bitcoin but you see that none of them are actually better then bitcoin. So the point of a coin being backed by Bitcoin is actually pointless.

[magnat7691]

Pegged Altcoins can be useful if these altcoins carry some meaning for the common good and are used in current life.

[Andromada]

Bitcoin is not tied to altcoins themselves. They follow it not because bitcoin is the main coin in the cryptocurrency world. But because traders are engaged in transfusion of money from one to another and Vice versa. This is the most common mechanics of the market

[cryptocrusher]

Unless they actually solve some issue they're completely pointless, people can just buy or sell bitcoin there's no need for a pegged coin. Even the some with uses I am highly skeptical of because it can easily end up in a similar situation to tether where no one is really sure if they will honour their commitments. Stick to normal BTC and you'll be fine.

[leviathon]

There is no way that a coin can be useful unless it has some kind of product that can be useful to humans when they are using the coin, If the coins are not solving some kind of problem or are not being incorporated into some kind of system to make it better then it is just another useless coin that has been put into the market, nothing more