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RE: Some thoughts about Tether and probably a safer alternative - Bitshares' bitUSD
Tether was sketchy from the start. One alternative might be gold backed cryptos, like Xaurum or the soon to be project of the Perth Mint.
Yeah but probably one of the reasons cryptos have enjoyed such a massive run is that they dont have to be backed by anything really :)
In my opinion there is no "not backed by anything". The current 'free-floating' cryptos are mostly backed by trust in the crypto-space in general, which is wildly volatile, as partially reflected by the market value of BTC (arguably). A crypto backed by a commodity like gold would provide an alternative to a "stable value" crypto that tether wanted to be.