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01-28-2019, 04:57 PM
The issue with them is:
A.) They're not really cryptos, they're just ledgers being kept by single institutions. No different from your bank account, really.
B.) You can't really make any money off them.
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01-28-2019, 06:24 PM
Dai's peg has failed a few times already, right? Or did I dream that?
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01-28-2019, 07:18 PM
Hm...
These things always break when you really need them, is the thing. The peg keeps until there's a crisis, and a crisis is when you wanna use it.
I'd be super careful around it and wait to see it survive some serious nasty downturns before I started using it.
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01-28-2019, 08:08 PM
Sadly, these are "stable" because they're being backed by a single point of failure (IBM or the Winklevoss twins, respectively), which means that they're not really any different from Mastercard.
Your liberties are just as threatened as they were before, but now IBM is in charge of them, not Mastercard.
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01-28-2019, 08:47 PM
In theory the Maker DAI, which is discussed above, should be different. But I'd wait a few years to see if that's really the case. Stablecoins that aren't just backed one for one by dollars have serious challenges and it remains to see if they can be solved.
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01-28-2019, 08:53 PM
This is going to sound really silly and vague, but the smartest person I know, currently a senior engineer for a developing coin, told me he mathematically proved that Monero isn't the best privacy coin available, and that holding it is a terrible idea. He says Zcash is better but still not ideal from a privacy standpoint.
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01-29-2019, 06:11 AM
As many people pointed it out, when nobody talks about it, you should accumulate. However, I strongly advise you to get the basics of technical analysis. You don't want to buy it when it is 'shortly' overbought.
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01-30-2019, 07:22 AM
You can make money off stable coins like tether by longing it on bitfinix whenever it's value caves in more than 3%. With leverage even. Needless to say, I'm not a fan of withholding lucrative tips or cockblocking rvf people. I'd understand it if you don't feel inclined to share things with outgroups but there's no point in discussing crypto here if it's not to offer practical advice to each other. What is the point of rvf members reading through essays and word salads if there's no information they can leverage off of?
I dislike stable coins. Unfortunately I'm using ones like TUSD to short some coins I own in the bear market. Initially I was very paranoid I couldn't cash them out but turns out you can transfer them to bittrex and exchange them for USD and then have them wire that to your bank account. For now, it works.
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01-31-2019, 09:27 AM
Quote: (01-30-2019 07:22 AM)[email protected] Wrote:
You can make money off stable coins like tether by longing it on bitfinix whenever it's value caves in more than 3%. With leverage even.
I would just be careful about buying tether/DAI on the dips. It has worked historically until one day it doesn't. Just don't bet the farm on it.