MakerDAO is the first true stablecoin for Ethereum. Unlike Tether which has a central point of failure the Dai is truly decentralized. Dai is supposed to always be worth more than $1 and so far while it is still within 1 cent of a USD it is showing as a proof of concept that it can work. We on Steem have the Steem Dollar which has a lot of variance in price so from a point of view of being a stablecoin the Steem Dollar is not exactly stable. The Dai if it can prove to be stable can be a place to hold value.
What about the change in the law which makes crypto to crypto trades taxable? It is because of the capital gains taxes that even holding Dai might not be idea. That said there are still reasons to hold wealth in Dai on Ethereum besides unregulated decentralized exchanges. The success of Dai will improve the utility of Ethereum for the better in the long term but Ethereum still has some problems to solve.
I think it makes sense for me to hold Ethereum because I think sharding will make Ethereum scalable. Theoretically the evidence suggests that sharding can work. Proof of Stake is controversial but the hybrid approach will give the community time to find out the risks vs benefits of Proof of Stake.
The fact that Maker is a DAO means that it is possible for anyone, anywhere to become a part of Maker and help act as the backbone of the Dai economy.
I am going to hold Ethereum too, thank you for this helpful post @dana-edwards, I wish you a great day.
Yeah SBD is quite unstable, especially lately. I wonder will we ever see a stable price of 1$ on SBD. Dai seems to be doing great, but don't you think it's possible that it will become unstable im the future as well?
ether will also be in great decline in near future.but it will not last too long then it will rise again.it can even double the current price.
Thanks for highlighting such important issue, i totally agree with about SBD is not stable at all and holding ETH could be the correct decision since MakerDAO is demonstrating the meaning of stability in cryptocurrency world.
It's easy to remain stable when your collateral ETH increases in value. I'm genuinely curious how will DAI perform during an ETH correction.
SBD didn't make it out of the way. I was thinking about investing in the SBD, but I'm a little nervous. I have no interest in ETC, I'm holding the BTC. With the rise of BTC, it will appear in coins, including the other SBD.
I did a BTC-USD analysis. If this breaks the lines I draw, the Ascension will begin.
@dana-edwards Review the BTC-USD analysis and please
https://steemit.com/btc/@forexmaster/btc-usd-time-to-go-up
Good analysis @forexmaster
crypto will dominate future world economy
an Ethereum designer meeting a month ago, is an extraordinary case for the inverse of a shut perspective. The meeting wound up with the support of 2000 designers in full.
Any individual who could and couldn't go to was ready to pay the $ 1000 extra charge. The reason is the potential smart contract thoughts that have the ability to achieve a large number of dollars in a single day, where data can be passed on accordingly. Thinking about this, the eventual fate of Ethereum appears to be very splendid..😊😊😊😊😊
MakerDAO is the first true stablecoin for Ethereum and it will be good to invest on it right now..thanks for this useful information
Thanks for your advice and sharing. Dai proved its stability. I hope someday steem proves its stability and shows us that it is the right choice. @dana-edwards
A particular DAO code will be difficult to change after the system is installed and started, including error corrections that are unimportant in the central code. Correction of a DAO requires new code and tardiness for all funds to be moved. Although the code is visible to every human being, it must be difficult to repair, so unless a moratorium is invoked to enable error detection, it opens exploits of known security vulnerabilities.
DevCon3, an Ethereum developer conference last month, is a great example for the opposite of a closed viewpoint. The conference ended up with the participation of 2000 developers in full. Anyone who could and could not attend was willing to pay the $ 1000 entrance fee. The reason is the potential intelligent contract ideas that have the capacity to reach millions of dollars in one day, where information can be passed on as a result. Considering this, the future of Ethereum seems quite bright.. @dana-edwards
Great information sir, I always feel smarter after reading your posts. Please keep sharing your thoughts. Resteeme done.
Thanks for information. I hope steem also has stable value in the future. All the best.
Thank you for sharing ♥ following you Mr @dana-edwards
Thanks for posting a great analysis about cryptocurrency.
I LOVE THE POST.
Thanks dear discuss about the cyptocurranec
So this tries to be the gold of the cryptoworld? Even when real gold isn't stable? An anti-Anitya coin? Even when the dollar against which it pegs itself won't forever be stable?
Nice idea but, here's another one: Buy USD. Its price will almost certainly always be the same as that of the USD, since it's pegged to itself.
Absolutely. Ethereum will be Really great investment. i think Ethereum will be future bitcoin maybe will be more than bitcoin. i ll buy some ethereum very soon. for sell it after 1-2 years . Thanks for post. I ll do research about Tether
"With Dai, anyone, anywhere has the freedom to choose a money they can place their confidence in. A money that will always maintain its purchasing power. "
If you want to maintain buying power, pegging to the dollar is a terrible way to achieve it. How many QE has the Fed done so far?
Good point.
And how many fiat currencies have been destroyed through human history? All of them. Why would with current be any different?
Honestly, of all the cryptocurrencies out there,it's only Steem that I really seem to understand.
DAI is now available for exchange at Switchain for DOGE, LTC & BTC.