Which crypto coin will grow in future - News broadcast about finance business real estate loan insurance and forex trading crypto markets

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Friday, October 19, 2018

Which crypto coin will grow in future

What about best crypto coin in future it?

More people want to know what Which is best Cryptocurrency to invest in 2018 2019 or 2010.
Crypto expert said that a stable coin is a digital currency that guarantees the value of a fiat coin. Fiat currency like United state dollar or United Kingdom pound which used by government and govt controlling system is not liked by more people due to take tax or late. A dollar is the problem and bitcoin is the solution?

So why should you use the two together?

That is because a crypto coin, and originally mainly bitcoin, varies greatly in price. If you buy a bitcoin for $ 6000, it can be $ 5,500 the next day. But if you sell it just in time for $ 6000, you have not suffered any loss. Hence the name 'stable coin', with the idea that the US dollar is 'stable' (more stable than bitcoin) and therefore reasonably guarantees a fixed price.

Because it is not convenient to change your bitcoin to dollars (or euros, or whatever) and back again if you want to earn some money with crypto trading or just want to switch, Bitfinex came up with Tether (USDT), the first stable coin that is also widely applied to crypto exchanges.

Well, anyone can say that anyway, we have Token X here and that is now worth as much as a dollar. That is why they create a stock of dollars that guarantees the value of the crypto version. Not quite crypto, but is easier to exchange because it has the same characteristics as a crypto coin can be used on crypto exchanges.

The problem is changing as the solution?

There is also the shoe immediately, in this case for Tether, which is under fire from conception, because bitcoin (the solution against the banks and therefore the existing money ecosystem 'the dollar') should not be traded for 'wolf in sheep's clothing "Tether, which is really just the dollar (the problem).

That is why the story that Tether (so actually Bitfinex, an exchange) would have to come to an audit in order to show the 2.3 billion dollars that they have to show. Which means that thy have backing for the value of USDT. There is always vague about it and is not easy to answer.

Suppose they have the 2.3 billion in the bank can they leave it, but what happens to the interest for example?
Is that money really there, to what extent is also paid in dollars? Then they are simply part of the system with all the consequences.

Recently there was also a message that USDT was dumped massively and that bitcoin thus experienced a peak of 10% in value. USDT dropped to 85 cents by being oversold. Crazy idea, of course, but still you have a guarantee that at least 85% of that dollar is still intact.

Meanwhile, there are already more stable coins that are pegged to the American dollar, such as TrueUSD, Stronghold USD, Paxos Standard (PAX), True USD (TUSD), USDCoin (USDC) and Gemini Dollar (GUSD). As long as there is a hump of dollars for the cryptoversies of it, there is not much going on, right? That is a question of putting things into perspective, because the banks are not yet gone and the crypto market is still far from mature. We can see here nicely what has been growing up lately.


Crypto currency Benift

A stable coin has as its main benefit the promotion of user-friendliness and adoption, provided the people are behind it. Many stablecoins are 'backed up' by a large bank, for example Circle (Goldman Sachs, recently owned by Poloniex), which is behind USDC. The man (Jeremy Allaire) who is at the helm knows about mitts when it comes to bringing new technologies into the world. That is only right?

Well, from an idealistic point of view (from the philosophy of Satoshi Nakamoto) it feels like an offense, an abomination of the original dream. On the other hand, as is usually the case with innovation (disruption): it comes from an existing technological spectrum. In short bitcoin and cryptocurrency's are the children of the industrial and technological revolution of the twentieth century.

Reminds me of what Andreas M. Antonopolous once discussed; hyper-bitcoinization, the hypothesis that bitcoin really moves the existing money system. Is somewhat similar to singularity, the hypothesis that the computer becomes smarter than humans and makes us superfluous. What happens then? Is that desirable or not? That is an interesting and delicious speculation feed.

Should you or should not continue with the stablecoin phenomenon?

I think so for the time being. As a purist (maximalist) I do of course keep an ideal, But for the time being bitcoin blockchain, crypto etc are so far from being developed, so for now we can be glad that we have an alternative money system that we can develop. This has not even been discussed for us for generations.

For now, we will have to work with an unhappy marriage for a while, because at the same time we also know that the existing money system follows a great risk in various ways, But whether the crypto market is ready to take over as a worldwide payment method?

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