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Author Topic: Is it possible to create a decentralized Stable Coin?  (Read 4339 times)

Offline 0t3p0t

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Is it possible to create a decentralized Stable Coin?
« on: December 23, 2020, 09:53:53 AM »
All we need is decentralization, maybe majority of us need it. Most stablecoins are pegged with centralized assets like fiat and precious metals correct me if I'm wrong. My question is, are you contented with the current stablecoins? Or do we really need a fully decentralized one?

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Is it possible to create a decentralized Stable Coin?
« on: December 23, 2020, 09:53:53 AM »

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Re: Is it possible to create a decentralized Stable Coin?
« Reply #1 on: January 07, 2021, 10:17:16 PM »
I don't think it's possible because this stable coin is clearly centered.
It would be very dangerous if a stable coin was created not centrally, because it certainly does not have a guarantee for price stability.

I think this is a strange idea, but in the world of cryptocurrency there must be because cryptocurrency is full of uncertainty.
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Offline Carbitcoin

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Re: Is it possible to create a decentralized Stable Coin?
« Reply #2 on: January 08, 2021, 05:25:26 PM »
In any case, a stablecoin must be backed by some asset in order to actually have a stable rate. Today, even those cryptocurrencies that actively maintain a pool of liquidity are still subject to volatility, so there cannot be a decentralized stablecoin.
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Re: Is it possible to create a decentralized Stable Coin?
« Reply #3 on: February 12, 2021, 06:19:46 AM »
Stablecoins and decentralization are, in principle, incompatible. The idea behind the release of a stablecoin was originally to be a connecting link between the currencies of states and a decentralized cryptocurrency. After that, states began to develop their national digitized central bank currencies in order to take advantage of blockchain technology and raise their national currencies to a new level.
I recently heard that there are also stablecoins that are backed by cryptocurrencies. I still have a poor idea of ​​how it works in practice. I admit that in this case, the basis of such a stable coin must still have some kind of state currency and can only partially be provided by a promising cryptocurrency.

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Re: Is it possible to create a decentralized Stable Coin?
« Reply #4 on: February 13, 2021, 02:02:55 AM »
I am currently satisfied using stable coins, because it can minimize losses when there is a dump for my assets
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Re: Is it possible to create a decentralized Stable Coin?
« Reply #5 on: February 20, 2021, 04:52:49 PM »
All we need is decentralization, maybe majority of us need it. Most stablecoins are pegged with centralized assets like fiat and precious metals correct me if I'm wrong. My question is, are you contented with the current stablecoins? Or do we really need a fully decentralized one?
I think we need now a decentralized stable coin platfor. We all know the hype is getting boom with decentralize platform so that it could be easily successful on the crypto market.     
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Re: Is it possible to create a decentralized Stable Coin?
« Reply #6 on: February 20, 2021, 05:01:44 PM »
I don't think it's possible @0t3p0t. As we know, stablecoins were created to have a tool that would combat the volatility of cryptocurrencies, and those stable coins must be pegged to some value that is not volatile (or as less volatile as possible) for them to do their job. When a stable coin stops doing one of those two things, it will stop being stable.
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Re: Is it possible to create a decentralized Stable Coin?
« Reply #6 on: February 20, 2021, 05:01:44 PM »


Offline elbans89

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Re: Is it possible to create a decentralized Stable Coin?
« Reply #7 on: February 21, 2021, 09:11:44 AM »
All we need is decentralization, maybe majority of us need it. Most stablecoins are pegged with centralized assets like fiat and precious metals correct me if I'm wrong. My question is, are you contented with the current stablecoins? Or do we really need a fully decentralized one?

I think There's no stable coin at decentralized platform. Because the basic factor that affect the price are demand and supply. No one cannot control it. So don't tell about stable coin at the decentralized platform. Never..
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Re: Is it possible to create a decentralized Stable Coin?
« Reply #8 on: February 21, 2021, 09:31:39 AM »
@banser very well said. If it is not attached to some non-volatile value, it would become another currency with which to play pump and dump and its "stable" function would not work. The reason is simple, that's why I don't think we see something like this.
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Offline damsix

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Re: Is it possible to create a decentralized Stable Coin?
« Reply #9 on: February 28, 2021, 09:44:53 AM »
It is very difficult for us to be able to create stable but not centralized coins because these price changes can turn fatal in stable coins that are decentralized.
Let us think if there are investors who have a very large value on stable but not centralized coins then everyone can own and sell them so easily in the market and no matter the price is going to go up or down.
It is absolutely impossible to create stable but not centralized coins and this in my opinion is very dangerous.

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Offline Condorlaib

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Re: Is it possible to create a decentralized Stable Coin?
« Reply #10 on: February 28, 2021, 02:46:24 PM »
in fact, in order to have a stable cryptocurrency, it must be backed up by something, but if it is backed up with some kind of assets, gold or dollar, for example, then this stablecoin will not gain independence in any case.

Online kulkhan

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Re: Is it possible to create a decentralized Stable Coin?
« Reply #11 on: April 11, 2021, 09:50:38 AM »
I think It is not possible to create a decentralized Stable Coin. Because decentralization and Stablecoin's are different thing i think. Stable coin don't carry pump, dump issue but decentralization permit this Thing. So i think it is impossible  create a decentralized Stable Coin

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Re: Is it possible to create a decentralized Stable Coin?
« Reply #12 on: May 07, 2021, 07:31:57 AM »
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It is very dangerous when creating stable, decentralized coins because there will definitely be no such thing as a BackUp fund and this allows investors to lose assets from stable coins.
It is also better to create this stable coin with a careful calculation because this stable coin must be equal to the original Fiat for its circulating supply.
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Offline ttcsalam

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Re: Is it possible to create a decentralized Stable Coin?
« Reply #13 on: June 06, 2021, 08:27:41 AM »
In any case, a stablecoin must be backed by some asset in order to actually have a stable rate. Today, even those cryptocurrencies that actively maintain a pool of liquidity are still subject to volatility, so there cannot be a decentralized stablecoin.
Right, a agree with you. the stable coin needs a fixed price when market dump all coin dump rapidly but the only stable coin is saved for investment cause investor can reserve this main capital from the bottom.

Offline Senin

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Re: Is it possible to create a decentralized Stable Coin?
« Reply #14 on: July 05, 2021, 10:21:03 PM »
By itself, the name "stablecoin" means a link to the relative stability of prices of national currencies, precious stones or metals .. Still, a decentralized cryptocurrency, in order to have an idea of ​​its value, must be pegged in the price of a more stable financial asset. Linking to bitcoin, naming the value of a cryptocurrency, let's say one hundred millionth part of bitcoin, still doesn't tell us anything about the value we are used to. Or, let's say, compare it with the Tron coin and say that this coin is equal to eight Tron. All the same, in the end, we need a peg to more stable coins, which suffer only from inflation.

 

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