4 ms·
I do not mind having Bitcoin keep going up. But as a business owner that relies heavily on cryptocurrencies, I would really love it if things were more stable.
by the_stc 9y ago
I do not mind having Bitcoin keep going up. But as a business owner that relies heavily on cryptocurrencies, I would really love it if things were more stable. We are building a business on privacy, anonymity, and cryptocurrency as a backbone. We're extrajurisdictional, so banking to USD or other fiat is very tricky. Tether is a great idea, but the current company looks very unstable. If there's a crash, they seem unlikely to be solvent.
Our company would pay a premium to get into a solid, pegged-to-USD coin. At least 5% if not more. Or even a coin that's pegged to an ETF. Of course we cannot satisfy KYC laws so it'd need to be a freely traded token, really.
I really hate the "hodlrs" and the complete lack of focus on how this is supposed to work for real businesses that use it as a means to an end, and not an end by itself.
I see this a lot talking about the 2x chain. People sometimes discuss it in terms of what's better for the BTC price. Why is that a goal at all? Other than the obvious reason of making current users richer?
- deleted 9y ago[deleted]
- erentz 9y agoIf you want to transact in USD shouldn’t you use USD rather than a different currency (BTC)? And if you want to use a block chain to transact in USD shouldn’t you use something designed for that like Ripple?
- the_stc 9y agoThat'd be swell. As an EJC, transacting in USD is more difficult, hence we must use cryptocurrencies. Is Ripple pegged to USD? I do not want anything complicated, just a coin or token that has a 1:1 ratio with USD. Charge me 5% or 10% to buy them or 5% on cash out.
- ikazaki 9y agoI believe this is because we are still very low on the adoption curve. Once it gains mass adoption and it is used more as a form of payment, the price will stabilize. 2x was made by businesses for businesses. It is supposed to solve the high fees and long confirmation times (at least on the short term) which are crippling businesses.
- the_stc 9y agoI do not really care about Bitcoin politics, but I will say as a user and business, the fees and confirm times are ridiculous and need a fix now, not in "18 months" when LN comes out (and then who knows how long until high adoption of LN). Hopefully it will stabilize.
- deweller 9y agoYes. This. A peggable USD coin with a decentralized exchange for BTC would be most valuable.
- 6nf 9y agoThere is a coin like this - Tether. As the name implies it's tethered to the USD so one Tether is always traded at around one USD.
- the_stc 9y agoExcept they are shady as hell and have not published anything to establish that they are solvent. It is fine to use right now to hedge against small changes. If something crashes hard then people try to get out of Tether, it will fall apart. No one has shown proof of being able to withdraw from Tether. That's why a Tether that is done properly would be very valuable indeed.