Why I don't care about the type of stablecoin I use?
This is the exploded answer to the comments from Cryptofinance (https://steemit.com/@cryptofinance24), asked @ https://steemit.com/cryptocurrency/@andrew-golyanov/stablecoins-way-of-future.
In that comment, Cryptofinance has raised the question of the methods employed by teams to peg stablecoins to underlyings.
I believe that I have the right to not care about what systems the same coins employ and here's why:
- I work as an ICO copywriter and I receive payments from up to 10 independent payers via ETH/BTC. All of those payments arrive on different dates upon the invoice maturity dates.
- This is not may trading capital but rather my allowance-ish capital, so I am strongly biased against volaity and I try to shield against it. That's why, I convert the crypto incomings that I've accumulated on every Monday into Tether.
- I convert Tether every first day of the month into rubles using the XYZ method. The XYZ method is not rocket science but it's just way beyond these deliberations, so…
- I am fully cognizant of the risks that arise when you deal with such green formations as crypto. I am fully aware that USDT might tank.
- I never retain the assets in USDT for the period in excess of one month as per Clause 3. above.
Consequently, for me, it's much more about finding the solution that has been most popular among the widest target audience because in my case is more about the short-term survivability of the system driven by the trust from the market.
I believe that there's nothing forever in this world, except for gold and my hate for Trump. Gold is gold.
USD, rubles, the whole of Western civilization, Earth, galaxy will collapse at one point in time. So, there's basically no point in trying to identify the system that is better at pegging and walling as compared to substitutes (full or partial for that matter), but the gaze should be on the popularity of that system.
And USDT is the most popular one, and that's why I am sticking with them.
But, anyway, seriously, there's a number of ideas being life-test as of now. If you want to get a general grasp on them, take a look at this article - https://hackernoon.com/stablecoins-designing-a-price-stable-cryptocurrency-6bf24e2689e5.
Cryptofinance, what stables do YOU use, and in what ways?
Kudoz on the site, btw. You are in the right lane, bro. I am going to make own ICO review tracker in 3-6 months as well.
I am an ICO copywriter and I come to Steemit to write up news and things that matter to me. Feel free to upvote me and donate to BTC (18j5RR2cwCGaa5i8LbiFa5Wof6i3pWgdM7) or ETH (0xd2407ce07b2EB936a128BF725E947C601bebF199). If you want my help with writing projects, email me ([email protected]).