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RE: Digital Gold Prevails In An Era Of Failed Stablecoins
Quite extensive article. I would add Dai backed by makerdao as an algoritmic stablecoin.
About digital gold. We need to see of the investor is looking at being pegged to USD or gold. Gold is deflationary and cod look as the best solution. I am anyway wondering if, long term, bitcoin itself will not play that role. With a long term perspective swing in price could be tolerated and they should reduce in future. Fiat backup would make sense not to be affected in daily life (in this case gold is not necessary always the right choice). I also dont rule out some utility token to reach a scale so big to find a kind of stability to replace the need of fiat: bat looks the best candidate. I have discussed it here bat equilibrium
@thehappyplayer
To get DAI you need Ether as a collateral. That would mean that DAI is an asset-backed stablecoin. Backed and collateralized by Ether.
I like BAT a lot. I included BAT in my list of best cryptocurrencies to invest in in 2020.
The article that you linked about BAT is excellent!
Well, you can buy DAI on the market. The asset is collateralized at creation. Actually it is backed by ether in its first version. Now it is even multi collateralized and the former Dai has been renamed in SAI. Probably I have misunderstood the algoritmic definition: the MakerDAO contract has a set of procedure in place to deal with emergency situations (in this sense I spoke about algo: perhaps I was superficial in elaborating your text regarding this).
P.S. thank you for having upvoted my post about stellar. After having ported few from publish0X where I got to know you I will write always here before.
Following you with the intention of building a little group interested in cryptos in steem.