Are there any legitimate stable coins?
I think Binances BUSD is the closest to legitimate
Anyone Seen Tether’s Billions?
11–20 of 492 posts
Re: Anyone Seen Tether’s Billions?
#12Are there any legitimate stable coins?
The U.S. Mint apparently is producing a brass/manganese- clad copper $1 coin called the "American Innovation dollars".[1]
You could try that.
[1] https://en.m.wikipedia.org/wiki/American_Innovation_dollars
Re: Anyone Seen Tether’s Billions?
#13Re: Anyone Seen Tether’s Billions?
#14If this goes on for a few more years, with broader investment from traditional investors (ETF), when Tether collapse I half-suspect that the cryptocurrency markets will bring the NYSE down with it in the fall as people sell to cover losses
The last time Bitwise tried to list an ETF, they revealed to the SEC that 95% of all bitcoin trading volume was fake. If the SEC permits a real BTC ETF that would represent a serious failure on their part, IMO, and I agree the potential for Tether contagion would increase materially. [1] [edit] this financial cancer can’t get excised quickly enough. The longer we wait the more will get hurt. [1] https://cointelegraph…
Looks like a futures-based Bitcoin ETF may come in ~2 weeks : https://www.thinkadvisor.com/2021/10/04/the-first-u-s-bitcoi...
Re: Anyone Seen Tether’s Billions?
#15Are there any legitimate stable coins?
No. USDC was long considered the adult in the room, but they started going off the rails earlier this year, dropping the 1:1 promise, delaying attestations and also now facing heavy regulatory scrutiny.
Re: Anyone Seen Tether’s Billions?
#16Are there any legitimate stable coins?
I think Binances BUSD is the closest to legitimate
Binance is the last institution you should be stapling the concept of stability to. They’re literally under investigation by every major world financial authority, including by the Cayman Islands monetary authority.
BUSD is a co-brand issued by Paxos.
No idea how it would hold up once the bear trap snaps shut on Binance.
Re: Anyone Seen Tether’s Billions?
#17Are there any legitimate stable coins?
The U.S. Mint apparently is producing a brass/manganese- clad copper $1 coin called the "American Innovation dollars".[1] You could try that. [1] https://en.m.wikipedia.org/wiki/American_Innovation_dollars
Dunno, I hear they're planning a big dilution soon. https://www.axios.com/trillion-dollar-platinum-coin-mint-jan...
Re: Anyone Seen Tether’s Billions?
#18Are there any legitimate stable coins?
Are there any legitimate cryptocurrencies? Stable coins as just another layer of scam built upon a foundation of scams.
Re: Anyone Seen Tether’s Billions?
#19Earlier quoted context omitted.
The U.S. Mint apparently is producing a brass/manganese- clad copper $1 coin called the "American Innovation dollars".[1] You could try that. [1] https://en.m.wikipedia.org/wiki/American_Innovation_dollars
Dunno, I hear they're planning a big dilution soon. https://www.axios.com/trillion-dollar-platinum-coin-mint-jan...
Increase in supply is not inflation. It’s quite unlikely to cause any actual measurable dilution. But let’s pretend for a second. Given that all major stable coins are pegged to or benchmarked against the dollar, any inflation in the dollar would carry over into stable coins 1:1 so the remark would be a nonsequitur.
Re: Anyone Seen Tether’s Billions?
#20If this goes on for a few more years, with broader investment from traditional investors (ETF), when Tether collapse I half-suspect that the cryptocurrency markets will bring the NYSE down with it in the fall as people sell to cover losses
The last time Bitwise tried to list an ETF, they revealed to the SEC that 95% of all bitcoin trading volume was fake. If the SEC permits a real BTC ETF that would represent a serious failure on their part, IMO, and I agree the potential for Tether contagion would increase materially. [1] [edit] this financial cancer can’t get excised quickly enough. The longer we wait the more will get hurt. [1] https://cointelegraph…
> The last time Bitwise tried to list an ETF, they revealed to the SEC that 95% of all bitcoin trading volume
95% of Bitcoin trading on *unregulated* exchanges was fraudulent. There’s a reason why people don’t use CoinMarketCap anymore and it’s precisely because it shows bad metrics from fraudulent exchanges.