This is an important aspect of the crypto world. We need a coin the is pegged to a dollar in order to make trading more efficient for users. I guess we could bypass that if people could just sell their coins for a dollar on the fly but for now we really need a coin that represents a dollar. For now Tether is doing the job but there has been concerns that the coin might not actually be backed by the money is said it is. If that is the case we would not only see a drop in tether but a large drop in the crypto market in general.
Not to worry we have a coin from Circle coming. It will be pegged to the US dollar and has already raised 110 million dollars to get the job done. I am glad to see a big company like Circle get involved in this and being a public company it will be easy to check they are backing the coin dollar for dollar with fiat cash.
I think this can go a long way to bring trust to the market and am looking forward to seeing it happen.
Here is the link for more info:
http://www.malaysiandigest.com/business/737877-circle-raises-110-million-plans-to-create-dollar-pegged-cryptocurrency.html
Too easy to scam here.
This sounds like it'll be good for crypto
I guess tether coin does the same...
This is amazing, we need more stablecoins on blockchain. One of them will win out and bring blockchain to the next level.
Wasn't SBD supposed to be pegged to the dollar
If we could just increase the supply it would become more stable and liquid! If steem becomes the way to print the worlds currency it would be amazing!
It was initially but no longer pegged to a dollar
There hasn't been any technical change, it the downward side of the peg is just fairly weak and slow to act.
Okay. Just like most people say, its almost impossible for SBD to be pegged due to the wide acceptance in trading
Yes it was. And it went up to $20 once. I wish I would have been one to sell off at that point to buy back 20x more.
But circle is a wallet I have used before so it has interested me already.
I am curious if the makerdao and havvens of the world can beat back these simpler products like circle and tether. Well see!
centralized like tether, nothing to celebrate in my opinion.
checkout true and decentralized alternatives such as BitShares bitUSD/CNY/EUR or Maker's DAI if you want to be prepared for the future.
No sbd reference? If only it traded close to $1 so people would know it’s a stable coin. It’s actually almost as big as makers Dai these days
Sbd is not a Stable coin
I think it would be stable if it gets back to $1. It’s amazing it has the same cap as Dai though.
Checking their fiat balance could go a long way to build trust. Having to know the worth of any of the coin coming out is a good idea
I believe that crypto not being pegged to the US dollar does not mean it's going to be the end of crypto.
That's a great news cryptocurrency provide....
I appreciate your post, best of luck my friend...
Yes we really need that. We also need an App to transfer money direct to Bank, instead of going through a long process. We should not depend on Bitcoin in the future.
Hopefully many things will change until the end of this year. When I tell people about steemit, the first question they ask "How can I transfer the money to bank?" It seems like the main problem for many users and maybe an obstacle as well.
This looks promising and hopefully it can be pulled off efficiently with few kinks. Thanks for bringing this to our attention.
it is a great Idea because there are price fluctuations with the cryptomarket making it unreliable and some huge looses are involved but if there is a coin coming up I think it is a good shift for the crypto market
Great post there. Apart from the lessons learnt, i have also come to understand three effective ways of accomplishing more in life.
#1 Play the Game
We have a tendency to take ourselves too seriously. This often results in becoming too stiff and unyielding when it comes to changing our plans and adapting to new situations. Being flexible and able to see how our circumstances can serve us is critical to our success.
#2 Purge the Distractions
First, it’s important to know the distinction between what’s truly good for you and what you use as a distraction. This can be tricky. For example, spending two hours on Facebook isn’t very productive, unless it’s part of your job. When we’re trying to distract ourselves, it’s usually because we’re supposed to do something challenging.
#3 Write Down Ideas to Make Them Count
Our minds are constantly in a bind, always working, chattering and in that noise, good ideas are born, but they can be easily lost. Nurturing the habit of writing down your ideas and thoughts is by far one of the best things you can do. It allows you to remember your creative outbursts, even when you can’t make use of them right away.
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Huge news because it will make new users more confident about the safety of using cryptos!
If it proves to have longevity, yes...
They should make something like there is a credit card
but like crypto card so you could pay in shops with crypto :D
but that would be bad for shops because if crypto goes down they won't make profit
I think within some time STEEM will peg all the currencies in the world