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RE: Crypto Tips UNPLUGGED: Mass Adoption Coming Soon?
I think adoption will come with decentralized stablecoins like DAI (pegged to USD) so merchants can't risk to accept something that is volatile.. and also volatility will decrease with higher volumes
This is true. It seems pegged coins are always surrounded by doubt either fueled by questionable auditing practices (Tether) or complicated pegging mechanisms (bitUSD) or they just end up failing altogether (NuBits)
I’m interested in seeing new ways these stablecoins plan on achieving that pegged status.
Yeah how is done the pegged part is crucial. To print DAI people have to lock Ether, so it seems fair.
The problem is that you have to pay in Ether the transfer fees. An hard pegged Steem Dollar or DAI on EOS would be very useful to have adoption
@heiditravels and @luigi-tecnologo
You have Steem dollars right here, its working and easy to use... do I miss something?
Also I think we will trade in all kinds of cryptos and "stablecoin" is more like a novelty, not really a solution...
Steem Dollars showed in the past to be not very USD pegged.. BitUSD, DAI are more stable
Yes for the ultrasensitive fiat monster that might be a problem, but for real anarcho capitalists its not a problem, its a solution.
The point is that a well done stablecoin is almost mandatory, because merchants pay with FIAT real goods and they can't afford to speculate on prices of the cryptos.
More and more cryptocurrencies gateways are coming but often the price of the conversion is expensive, while stablecoins allow to use cryptos without the risk of the fluctuation. Here a good example where developers can work for ETH or DAI https://gitcoin.co/explorer?network=mainnet&idx_status=done&order_by=-web3_created
I understand what you write, but I still think SBD is good enough for almost anybody have a shop or whatever :
It would actually have been an upside to use it, if you think about it.
But yes all kinds of innovations can come out, but really I think shifting the mindset away from fiat is more important then any using "stable coins" that actually reinforces the mindset of the evil/corrupt fiat money!