What you NEED to know about USD Tether + get 100SP delegated by commenting!
EDIT: added below pic for thumbnail on steem
Hi all,
USDT is a ticking time bomb. I made a vid about why that's the case.
Now that you've watched the vid, what did you think? I want to do my part to fight spam and promote insightful comments/discussions. I read every comment and value your feedback. Write something and I will pick the most insightful comment to delegate 100 Steem Power to you for a week.
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Here is last post's winner: 
Congrats to @sames! Great sources for people to know more about Lightning Network!
-Dan
That's why I prefer bitUSD and bitCNY for stable currency.
Yes the oracles of Bitshares allow for the best option for competing with USDT Tether
For a while @mughat and I were tinking SBD was a good choice to expnd by burning Steem t produce more SBD tokens to really expand SBD supply to cmpete with USDT
But then we all know what happened, SBD broke its peg upward and just became extremely expensive.. Great for anyone who bought it low as a hedge, but we STIL have hope with SMTs for creating a USDT replacement
Also I would like to nominate @masheil to recieve the 10 Sp fr a week if I do win, because she has donated a whole building for the use of Steemit #teamghana with @steem4depoor , and I just want to help her pay the overhead costs by helping her get some payout rewards, and helping her will help us to get MILLIONS of Ghanians onto steem, who will then use it as their Main bank account, and we will start to gain Millions of dollars in value from on boarding an entire African Nation into steemit!
Eventually Steem will he;p upgrade the infrastructure of every developing nation that integrates steem into itself... People will use post rewards to buy solar panels and cellphone towers and to build cheap or free wifi for entire cities, investments that will pay off in the billions... Imagine 1 billion human brains all mining proof of bran, like SIC bitcoin miners... By feeding these brains well fed and online we can extract a Lot of value from them over the course of t heir lifetime.. Its foolish to throw them away... Together we can uplift the standard of living of 3 billion people n this planet and create a solid global middle class t hat uses the steem blockhchain to create self sustainable business model using Ghana and Nigeria as the west African foothold that ten spread through all of Africa. We will create the techno-utopia of Wakanda from "Black Panther" but in real life :D Waghanda
Wow, very impressive
I was just thinking that someone should do a video on this... Awesome! You should consider making a step by step vlog on this for people to be able to follow along with the steps as well as additional ideas you might have. I wish people would think #Steemit through on something you mentioned in this video. We should all help each other be successful. Doing this not only reciprocates the support, but everyone becomes successful together. And even further, #Steemit then becomes more popular.
I prefer nubits more but bitusd is good too!
Thank you, BitShares is nice indeed.
If Tether Tusd goes under it could be the biggest blow to BTC and the cryto market, if it happened it would be even worse then the MT Gox hacker back in the day.. I hope Tehter is not a bubble that will burst..
I just hope that there will be a direct fiat transfer to crypto on the bigger markets soon, then a ustd crash wont hurt the market so much
i think it`s pretty hard to do that...
Teather is a timeeee booooomb!
I havent seen your videos. Now im following!
D.
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Well explained, thanks a lot for this great info :)
What do you think about new tether alternatives (stable coins) such as NUBITS, bitusd and the latest one DAI ?
I guess DAI is the most transperant one in them all.
I hope to get your opinion about them:D
Thank you :)
I personally use bitusd and bitcny, and I have not looked into the other two
Wait I won the delegation? Sweet, I wasn't even trying too :)
Anyways: I prefer nubits=it a decentralized usd peg.
Here why:
When demand increases, shareholders will vote to create new coins to maintain the 1:1 ratio. When demand decreases, shareholders can vote to allow coinholders to accrue interest on their investment if they agree to “park” their coins for a set period. When demand is low, speculators may see incentive to acquire and then park their coins as a high-risk, high-reward investment should demand rise again.
NuBits will enter circulation through the NuShares voting mechanism. Unlike most cryptocurrency voting systems, NuShares operates independently of the NuBits currency.
One interesting facet of NuShares is that it allows NuShareholders to choose who will receive newly-minted coins. People can submit proposals for why they should receive the coins, and NuShareholders can choose which they deem the most worthy cause. Perhaps a developer would like funding to build a project for the NuBits protocol, or a charity wants to raise funds for a cause. They can submit their proposal, and the NuShares community can debate and decide who to distribute the coins to. Info from https://www.cryptocoinsnews.com/nubits-seeks-to-end-cryptocurrency-volatility-with-usd-peg/
******Additional Price Support Innovations aka now staking
*Variable transaction fees==
The Nu network now has the ability to charge variable transaction fees for both NuBits and NuShares. Transaction fees are permanently destroyed on the Nu network, acting as a deflationary mechanism for the supply of both NuBits and NuShares. This enhancement in Nu v2.0 permits shareholders to vote to set transaction fees. Further information on the mechanics behind variable transaction fees can be found here.
*NuBits burning through the sale of NuShares==
NuShareholders voted in 2015 to allow the creation of NuShares through custodial grants. This action created an additional tier of Nu liquidity to better protect the $1.00 peg. In the event of parking rates being offered for a prolonged period of time, NuShareholders can vote to create new NuShares that are sold through auction. The proceeds from this auction would then be used to purchase NBT on the open market, at which point the purchased NBT would be destroyed permanently by the custodian. The net result would be a dilution of equity value for all NuShareholders in order to reduce the outstanding supply of NBT in circulation. This price support mechanism allows NuShareholders to reduce the supply of NBT to match periods of contracting demand.
*Liquidity pools==
In 2015 NuShareholders began to establish group liquidity pools to replace the individual liquidity providers that were originally specified in the Nu white paper. Users who are willing to provide liquidity for the Nu network can be compensated at varying rates, depending on the types of liquidity provided. For more information, please visit our Liquidity Pools page.
Info from=https://nubits.com/about/price-stability
Not bad but in June 2016 NuBits had a devaluation crisis, with the price falling to 20 cents. Its rate-pegging intervention mechanism this was due to bad teamwork between nushares. Read more about it here=https://medium.com/coinforward/nubits-a-tumultuous-stablecoin-afe94cbe9df8
They have fixed this issue and created stricter protocol. By the looks of it it was due to a rogue dev. While it not the best, I find it better than bitusd.
What I am sad about is why has no one taken my idea of a decentralized usd peg :(
https://steemit.com/bitcoin/@sames/decentralized-alternatives-to-tether
Maybe was it before i got more dedicated followers? Hmm....
But anyone read this and want to do an ico, this is for you :)
Hey!
So my thoughts on tether is that it is the same as the USD. They print as much as they want. The printed Tether and USD the USA makes isnt provably backed up by anything. They both are used to manipulate markets. They both are controlled by a few people total. Basically both are money printing machines.
Maker DAI is the solution and will eventually overtake Tethers marketcap. Maker DAI is fully decentralized with mechanisms in place to have a soft peg to the USD. The incentive structure is such that DAI only goes up or down with a few cent range. It is secured by ETH collateral that backs up the whole network.
You shoud read more about it, it is set to be the next big thing. Owning Maker also gives you voting rights for system upgrades and updates.
Woh never heard of it! Thanks for the info, got to analysis this new project but i hope one day we won't even need fiat :)
虽然就听懂了一句，但是还是坚持看完了。
类似于sbd对标美元，USD T也对标美刀。
用处就是用token起到代替美元的作用，好处是很多银行没有虚拟币交易的服务，但是USD T可以。
缺点是USD T的所有权归美国政府，并且政府有权在任何时候收回。
所以投资USD T需谨慎，三思而后行。:)
不错嘛 基本上就这几点
I personally have a hard time trusting any pegged currency. Especially in a market as volatile and unpredictable as crypto.
People have a hard time trusting exchanges, let alone storing their value in a questionably "stable" cryptocurrency.
For tether to gain my trust, I would like to see it set up as a absolute guaranteed 1:1 ratio with deposits and withdraws.
If my value was backed (insured, if you will) I would feel better about trusting my investment not to depreciate. Even if i had to pay a small fee for the added insurance.
On the topic of delegated SP. I am 2 months into my journey here and have been working really hard to be an asset to the community. Having a SP boost for a week would really help achieve my goals. Thanks!