Thoughts on BUSD and other stables.

[crypticj]

You have chosen the most unfortunate time to exchange your USDT for BUSD. You obviously don't know that the Paxos Trust Company, which is the issuer of BUSD, said that it stopped issuing this stablecoin and decided to burn it at the request of the SEC.

Yes, I know about this news, that's why I asked. I never used BUSD because I think right now USDT is the best stable simply because of how many people are using it so I know how they earn money to back their coins. And even with all problems with tethers transparency it still looks better than other stables.

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[tvplus006]

This is made worse by the fact that it seems that Circle itself is stabbing behind Paxos, it can be said that the future of stablecoins is putting a new order and the advantage is in USDT.

Yeah, I just read that it was actually Circle who filed a complaint against Paxos. This might be Circle's way of retaliation against Binance who "delist" USDC by auto-converting it to BUSD a few months ago. Guess now Binance will either increase their reliance on USDT or "re-list" USDC. Curious how they're gonna handle this.

I don't think that after Circle initiated an investigation against BUSD, CZ will decide to return the USDC listing to Binance. But there is also no way to make an equal replacement for BUSD, whose trading volume will decrease in the near future. So all trading on the Binance exchange will be concentrated in a pair with USDT, which will significantly strengthen its position in the market.

[Kelvinid]

What do you guys think about BUSD? Do you think it's worth using over USDT?
What do you think about stables in general?

Even though the SEC has some issues with them but still I have some trust left in these stablecoins (Busd and USDT). But then, if we talk about holding them for long is another story and it is quite not ideal in their current situation, it might change when they settled it down and close the issue. However, we are still cautious with our actions.
I'm still using BUSD and I have no problem yet which is why I still consider this coin important for me. But for those who already have doubts, I guess you don't need to urge yourself.

[tvplus006]

Even though the SEC has some issues with them but still I have some trust left in these stablecoins (Busd and USDT). But then, if we talk about holding them for long is another story and it is quite not ideal in their current situation, it might change when they settled it down and close the issue. However, we are still cautious with our actions.
I'm still using BUSD and I have no problem yet which is why I still consider this coin important for me. But for those who already have doubts, I guess you don't need to urge yourself.

And what positive solution can be expected if Paxos Trust Company has already stopped printing BUSD and started burning it. And Paxos has already started burning BUSD, here is a link to the first burning of 61 million stablecoins: https://etherscan.io/tx/0xcaefe0fa62e58eaa0ae18e66cf1923d2f70b8d635ca290a321d6beefe8277725 As follows from Statement Paxos, you can use BUSD for at least another 1 year.

[el kaka22]

BUSD is the best one out of all the others in my opinion but still do not trust it. I do not trust stablecoins overall, end of story.

The main reason for this is the fact that it is pegged to fiat and I do not trust fiat, it's based on dollars, that means if Biden comes out tomorrow and says something stupid, which is not unlikely, worth of a dollar could drop, it is still 1 dollar, but it worths less now, why get the crypto version of that when I can buy bitcoin? That is why I won't do anything with stablecoins but if I had to pick one and forced on it, I would pick BUSD over others because I trust binance over other companies that has a stablecoin.

[JANUS23]

Stables are a big and incredible area of crypto. We cannot simply do without them. I think USDT has survived the test of time and would go down as the best. USDC has a shorter span but still credible