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Well there are certainly plenty to choose from, the major downside to stablecoins is that you need to place trust in the mechanism that ensures they are actuall
by X6S1x6Okd1st 6y ago
Well there are certainly plenty to choose from, the major downside to stablecoins is that you need to place trust in the mechanism that ensures they are actually stable. Tether is the biggest one and it's pretty unclear whether they are trust worthy.
IMO one of the most important properties of cryptocurrencies is that you only need to place trust in the code & that the miners are selfish.
- AgentME 6y agoNot to invalidate your point, but Tether is a particularly untrustworthy example. USDC is another centralized stablecoin that's more transparently managed than Tether, and then DAI is a decentralized stablecoin that keeps its value through a smart contract that manages collateral and minting in order to keep its value steady.