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I've never understood the logic of a stable coin in general, why not just hold cash. However, I'm suggesting that with the potential dramas around Tether, as a

I've never understood the logic of a stable coin in general, why not just hold cash. However, I'm suggesting that with the potential dramas around Tether, as any peg is equal to any other, why not hold a stablecoin that does not have Tether's bad reputation?

snapcaster 4y ago
Because you can't transmit cash to crypto exchanges? Also, Tether is the oldest and most rock solid stablecoin. Maybe supported by criminals but they've never failed to redeem
- amanaplanacanal 4y ago
  They all never fail to redeem, until one day they do.
- funstuff007 4y ago
  Then how does the cash get into Tether?
- pedalpete 4y ago
  I think you mean you can't transmit cash between crypto exchanges. You can definitely transfer them into exchanges. Or perhaps you meant you can't store in a hardware wallet. I personally don't believe any of these things make the case for holding a stable coin. Remember the coin is pegged to a real thing, so it can't outperform, but it is at risk of total collapse. The only way for the "cash" you hold to collapse is for the entire banking system to collapse. In which case, you're still better off holding BTC.
SilasX 4y ago
Kinda funny how many people -- especially "curious" HN users -- will gladly write a comment wondering why anyone would use stablecoins rather than regular dollars, despite the ease of googling the answer or searching HN, and despite the litany of over-clever users asking the exact same question over the past three years.[A] 1) Stablecoins can interface with smartcontracts and the crypto blockchains, regular dollars can't. 2) More smartcontracts use Tether as their stablecoin than others. ... for the 1000th time. It's almost like y'all don't want an answer, but just to sound clever and "above all of this". [A] https://hn.algolia.com/?dateRange=all&page=0&prefix=false&query=why%20use%20stablecoin%20instead&sort=byPopularity&type=comment https://hn.algolia.com/?dateRange=all&page=0&prefix=false&qu...

snapcaster 4y ago

Because you can't transmit cash to crypto exchanges? Also, Tether is the oldest and most rock solid stablecoin. Maybe supported by criminals but they've never failed to redeem

amanaplanacanal 4y ago
They all never fail to redeem, until one day they do.
funstuff007 4y ago
Then how does the cash get into Tether?
pedalpete 4y ago
I think you mean you can't transmit cash between crypto exchanges. You can definitely transfer them into exchanges. Or perhaps you meant you can't store in a hardware wallet. I personally don't believe any of these things make the case for holding a stable coin. Remember the coin is pegged to a real thing, so it can't outperform, but it is at risk of total collapse. The only way for the "cash" you hold to collapse is for the entire banking system to collapse. In which case, you're still better off holding BTC.

SilasX 4y ago

Kinda funny how many people -- especially "curious" HN users -- will gladly write a comment wondering why anyone would use stablecoins rather than regular dollars, despite the ease of googling the answer or searching HN, and despite the litany of over-clever users asking the exact same question over the past three years.[A] 1) Stablecoins can interface with smartcontracts and the crypto blockchains, regular dollars can't. 2) More smartcontracts use Tether as their stablecoin than others. ... for the 1000th time. It's almost like y'all don't want an answer, but just to sound clever and "above all of this". [A] https://hn.algolia.com/?dateRange=all&page=0&prefix=false&query=why%20use%20stablecoin%20instead&sort=byPopularity&type=comment https://hn.algolia.com/?dateRange=all&page=0&prefix=false&qu...