Re:Tether minted most USDT to just 2 firms – Alameda and Cum...
by scotty79 on Thursday August 12, 2021 @12:34PM
(#28158391)
You can buy stablecoin at the exchange you prefer (because it has low fees or supports your preferred payment method).
Then you can transfer them to other exchanges and buy crypto there. Works the other way too. You can optimize your trading and withdrawal fees this way. So very mediocre utility.
The only entity the stable coins are most wonderful deal is the the one that emits them. They basically have money printing machine for the crypto-economy. And if the project tanks they are left with hard money in hand and everybody else ends up with now worthless stablecoin, because the only source of it's value and utility was the stability.
Some stable coins like DAI have bit more indirect mechanisms of attaching their price to dollar. This seem to work and managed to keep DAI value stable without any manual intervention while ETH price (which is involved in control mechanisms) swung wildly.
Then you can transfer them to other exchanges and buy crypto there. Works the other way too. You can optimize your trading and withdrawal fees this way. So very mediocre utility.
The only entity the stable coins are most wonderful deal is the the one that emits them. They basically have money printing machine for the crypto-economy. And if the project tanks they are left with hard money in hand and everybody else ends up with now worthless stablecoin, because the only source of it's value and utility was the stability.
Some stable coins like DAI have bit more indirect mechanisms of attaching their price to dollar. This seem to work and managed to keep DAI value stable without any manual intervention while ETH price (which is involved in control mechanisms) swung wildly.