Basis vs. BitUSD. What is stability worth?
If you do not know, stable coins in the cryptoasset world are in high demand but almost universally deficient in some way. Being a real problem, a few people have raised some serious capital to try and discover different potential solutions. One of which is Basis.
https://medium.com/basis-blog/introducing-basis-a-stable-cryptocurrency-with-an-algorithmic-central-bank-7a795393a525
It is interesting to note the total value of the initial raise for Basis is about 9x the entire market cap for a stable coin that is working today.
https://coinmarketcap.com/currencies/bitusd/
Bitshares can accomplish most of what this new project is seeking to achieve and it is available technology. I think even from the perspective of a project like Basis they could benefit from a Bitshares integration. Bitshares - Scalability solved.
How's the volume on bitUSD lately? Also, what ever happened with tether? After the FUD it appears to rarely come up, but I never heard it was a scam.
I think bitshares would be huge with more adoption, they have a ton of capabilities on the platform
My guess is the people who should be concerned with Tether as a scam compared it to how traditional fractional reserve banking works and said they would incur the risk. Also it is a hot potato anyway so few believe the accurate odds they will get stuck holding it at the end.
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Nice review - catching up all the posts today. So with all that money and good intention raised, have they selected a technology yet?