I think it depends upon the backing model itself. So, not all stablecoins are created equal!
Also, many are risky because of fraudulent actions. But, this doesn't mean they are not here to stay. I feel precious metals, like gold is a good real value for backing crypto-assets. Take for example the Gigzi project, (which is on its ico stage right now) it has a good "Tokenized Precious Metals" model. Moreover, Gold has a more stabe price than just using fiat currency. So, yea, I'm with real asset-backed crypto.
Agreed, that's a great point.
Gold and other precious metals definitely appear more stable than fiat. So then the question is, whats behind the concept of "stable value"?
Is it just a
consistency of demand and supply?
If demand for gold changes, and its supply match it, the price will move.
Tell me why we can't build a cryptocurrency which constantly adjusts its supply to meet demand, therefore making it stable... without having to be backed by anything?