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RE: Bitfinex, Tether and the crytocurrency markets

in #vincentb6 years ago (edited)

@johanalejo Tether is a useful tool, but it isn't an integral part of the crypto market. It could easily be replaced with something much better. Why do people even think a stable coin needs to be backed with USD? Isn't crypto better than USD, except for the volatility? Someone should create a coin that automatically adjusts the supply based on demand, establishing stability and a set value of 1. IF market cap = circulating supply THEN value = 1. The problem with tether is that it isn't decentralized. Its managed by a corporation. Who trusts corporations? The beauty of crypto is that it can exist without a central power! I wrote a little more about this concept in a commentary yesterday. Check it out and tell me what you think.

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