Why? It's still partially backed, it'll automatically re-activate fully once backed completely (either by bidding on collateral or by BTS' price increasing), plus other market pegged assets on the Bitshares platform didn't globally settle & these MPAs don't reference external assets thus they're far less likely to globally settle.
BTC has dropped ~85% in value since this time last year & USDT has no publicly proven backing collateral at all, which is as good as there being no backing collateral.
The fact is that currently BTS <=> BTC <=> USDT is a better pair than BTS <=> bitUSD. USDT solved its volatility issues and now it is the only stable coin that is ~$1. The rest are ~$0.99.
And yes - USDT has no proof that it is backed by real money. That is the only reason why I diversified by bitUSD, too. Now, when bitUSD has flopped, there is a need for another stablecoin.
China's economy is collapsing right now. It is too sophisticated for me to jump around those assets. Even crypto coins <=> BTC <=> USD is a disaster to manage. 😂
Why? It's still partially backed, it'll automatically re-activate fully once backed completely (either by bidding on collateral or by BTS' price increasing), plus other market pegged assets on the Bitshares platform didn't globally settle & these MPAs don't reference external assets thus they're far less likely to globally settle.
Because bitUSD dropped in price and was worth $0.7. Then better would be holding those assets in BTC or USDT.
BTC has dropped ~85% in value since this time last year & USDT has no publicly proven backing collateral at all, which is as good as there being no backing collateral.
The fact is that currently BTS <=> BTC <=> USDT is a better pair than BTS <=> bitUSD. USDT solved its volatility issues and now it is the only stable coin that is ~$1. The rest are ~$0.99.
And yes - USDT has no proof that it is backed by real money. That is the only reason why I diversified by bitUSD, too. Now, when bitUSD has flopped, there is a need for another stablecoin.
bitCNY?
China's economy is collapsing right now. It is too sophisticated for me to jump around those assets. Even crypto coins <=> BTC <=> USD is a disaster to manage. 😂
The global FIAT economy is probably going to collapse to be fair, hence why the norns don't reference any external asset value 👌