Thanks. Could you share a link to these slides please?
Stablecoins have raised over $350 million. We now have 45 projects fighting for the exact same prize. Imagine the 45th stablecoin founder convincing investors to spend money on a project going up against 44 exact replicas Not sure if I feel worse for the founder or investor...pic.twitter.com/emrEzUJWTR
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Thanks
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Not all stablecoins are the same. Also each bank, institution and such will want in on their own that they can be part of. It's also necessary for the ecosystem. The market is the market. Itll play itself out.
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Why would each institution want their own stablecoin?
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Having your own stablecoin is like casino chips: they *could* make do with a universal set among them, but that complicates things. Keep your own records and profit from your own customer's actions. Casino A redeeming casino B's chips, but not vice versa? Leaving $ on the table.
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aren't these substitutes for money? universalism seems like a good feature for money. or is "stable coin" a different thing?
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Just looking at the pic you posted I can see totally different projects. DGX is backed by gold, not USD like TRUESD. And all of those can be used as collateral to generate DAI which is itself pegged to USD in a more distributed way, etc... educate yourself before preaching dude
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Oh and DAI is set to reward holder with a 2% increase in holdings in order to counter inflation of USD. The only prize all these projects are fighting for is choice and competition. Not sure why you seem to think a single monolithic solution would be better - wrong game
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Many different stablecoins with different mechanisms ensures non reliance on a single entity that could destabilise the economy - ever heard of Tether? Let's have 10000 different stablecoins for people to use
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"Stable" coins are the most boring thing in crypto. They aren't crypto.
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No... but they offer a parking place and a means of transferring a highly volatile asset to someone without it plummeting 20% in 1 hour.
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I believe those have existed for a while, they are called bank accounts.
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Erm... the tweet was about Stablecoins not banks...
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A stablecoin is just a bank account on the blockchain. Whooptido.
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A bank account that you can easily access. Stablecoin in some points are superior to a bank accounts.
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So many projects, and we're the only one using Bitcoin as collateral, with its unmatched security and censorship resistance.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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What should this hipe be about
#stablecoins? You link a#coin to a#FIAT currency and thus give up the#decentralization completely! What about the thoughts of freedom of a#NakamotoSatoshi?
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All fiat currencies eventually go to zero, stable coins as well. At that point, people will remember why Bitcoin was invented.
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Not all projects will go to zero. Survive Those who have really safe programmed applications that can be used by many companies.
#DYOR$IOCpic.twitter.com/qnBbReZBfP
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Money>fiat always. These "programmed applications that can be used by many companies" will use actual money and not a pointless stable coin.
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