Initially the couple downsides I see of that system is that it seems to run on top of a platform (Maker) which runs on top of Ethereum. So it worries me that transaction fees could get kind of high on it and also the system seems to be set up to where you have to put Ethereum up as collateral. That is the big thing I don't like about BitShares as well. YOu have to put BitShares up as collateral but what if BitShares is falling? It is like you are forced into holding an asset that is eroding away as well.
That is why I like NuBits. I'm not forced to put up anything as collateral. I can just buy it and sent it to my wallet on my computer.
That being said maybe the best way to play these is to split assets up 3 ways. Some to BitUSD, some to DAI, and Some to NuBits. That way if one of the systems fails you don't take out all the holdings.
What about you? have you been using any of these dollar pegged assets to let the bottom fall out below you? And then regain larger holdings when you reenter back in?
No, not going to hold any of these pegs because the USD and other FIAT is inflationary so you are guaranteed to lose 3 -4 % each year in spending power, on top of that when the Peg breaks down the coin can go to zero. SBD has gone the other way but if it can't control one side, how can it control the other? Who knows what will happen to Tether. If there is a stable coin and I can predict when markets will fall (should have predicted this bear market in fairness, I didn't), then it would be worth sticking it in a pegged coin or just cash out and pay the tax.
I don't know if you have heard of the SDR which is a basket of currencies, it's probably good to hodl a basket of crypto.
I hear you on the inflation situation with the FIAT but I only plan on being in this for a short period and as fast as this is falling it is better than losing another 50% or so. I think I'm going to convert some more to NuBits but never sell completely out of the positions and in a few days reassess the situation and get back in my positions and even strengthen my positions.
I'm not sure if I heard about SDR or another one that is a basket of them. But I agree. Being well diversified is how I like to be. I'm not into @jerrybanfield 's strategy of going all in on one coin.
He's still done well but it was a risky strategy. SDR is a basket of FIAT, they should have included gold too and maybe some crypto for good measure. I will look more into Nubits
Initially the couple downsides I see of that system is that it seems to run on top of a platform (Maker) which runs on top of Ethereum. So it worries me that transaction fees could get kind of high on it and also the system seems to be set up to where you have to put Ethereum up as collateral. That is the big thing I don't like about BitShares as well. YOu have to put BitShares up as collateral but what if BitShares is falling? It is like you are forced into holding an asset that is eroding away as well.
That is why I like NuBits. I'm not forced to put up anything as collateral. I can just buy it and sent it to my wallet on my computer.
That being said maybe the best way to play these is to split assets up 3 ways. Some to BitUSD, some to DAI, and Some to NuBits. That way if one of the systems fails you don't take out all the holdings.
What about you? have you been using any of these dollar pegged assets to let the bottom fall out below you? And then regain larger holdings when you reenter back in?
No, not going to hold any of these pegs because the USD and other FIAT is inflationary so you are guaranteed to lose 3 -4 % each year in spending power, on top of that when the Peg breaks down the coin can go to zero. SBD has gone the other way but if it can't control one side, how can it control the other? Who knows what will happen to Tether. If there is a stable coin and I can predict when markets will fall (should have predicted this bear market in fairness, I didn't), then it would be worth sticking it in a pegged coin or just cash out and pay the tax.
I don't know if you have heard of the SDR which is a basket of currencies, it's probably good to hodl a basket of crypto.
I hear you on the inflation situation with the FIAT but I only plan on being in this for a short period and as fast as this is falling it is better than losing another 50% or so. I think I'm going to convert some more to NuBits but never sell completely out of the positions and in a few days reassess the situation and get back in my positions and even strengthen my positions.
I'm not sure if I heard about SDR or another one that is a basket of them. But I agree. Being well diversified is how I like to be. I'm not into @jerrybanfield 's strategy of going all in on one coin.
He's still done well but it was a risky strategy. SDR is a basket of FIAT, they should have included gold too and maybe some crypto for good measure. I will look more into Nubits