Ethereum Q&A: Stablecoins and DAI

Fantastic review of stablecoins and DAI. Thank you!

why not back the coin?

So Ripple, Stellar, EOS, and TRON have a problem?

DAI has been far from stable and unusable from a merchants point of view. Plus the MakerDAO Stability Fee has risen to a ridiculous 16.5%. ie FAIL.

Simply keep the majority of your stash in Bitcoin and use Fiat when needed. And since most daily commerce is conducted through Credit Cards a better solution for crypto holders is to petition Visa/MC/AmEx/Discover to accept Bitcoin to pay their monthly Card Balance.
Over time BTC volatility will become less and less all by itself.

"As they say, the rule of thumb is taking the amounts of money you're supposed to put into this project put it all on the table in front of you and set in on fire. Did you cry? if not that's the right amount of money" Amazing advice. 😀

I don't see how DAI is decentralized, they need to feed Ethereum prices to the smart contract every minute from a centralized wallet that is authorized to do so. There is a single person, or a group of people who have the ability to stop feeding prices or feed wrong prices. There is a central point of failure. Only a matter of time before it fails.

joder no mercy i love u

Thank you Anto..

If bitcoin were to become a world reserve currency, what's to prevent the custodians of the internet from stealling?? ie. macos, windows, and other operating systems. These companies would be the ultimate arbiters of entry in a crypto world. In proof of work, people say that the value of bitcoin is derived from its usage of power, if thats the case then wouldn't energy corporations profit the most from a world in which bitcoin is a world reserve currency?

Thanks Andreas, very useful as always! You need more sleep. Get well soon. Take care 🙂

these videos are great and you're an amazing speaker Andreas so i think everyone would appreciate it if you got a better microphone

Thank you Mr Antonopoulos for your amazing work educating people in the crypto space 🙂

Can I ask you which mobile phone you use please? iPhone or android / which is better for security?

Many thanks

This guy is just another scammer for the big bankers who turned off bitcoin instant transactions and Etherium erc20 shit coins who stole billions.
Andrea you're either an idiot or a liar. It seems to be both. You act like you are Satoshi nakamoto, trying to steal credit from Craig Wright. Shame on you!

Why are some btc addresses invalid? how could we use it if it appears invalid

stable does nto mean pegged. it means stable appreciation or depreciation curve against one currency or a basket of currencies.
You can have a stable coin that will appreciate 2% against the dollar each year for example – that is the best of both worlds.

Always such great explanations, Thank you so much Andreas!

sound was crackling this time…more headroom reqd

when eos vids

Co myślisz o nano ja uważam że jest lepsze od LN btc co ty masz do powiedzenia? Polish language

Thoughts on finality UBS gateway using USC's… the banks crypto to sell to the masses.. shepple? Opinion PLEASE?

thank you, fantastic information!!!!!!

Would be curious to hear your thoughts on decentralized, non-collateralized, and price-flexible stability systems like the one BitBay markets (BAY) has. Would not having to rely on collateral make it a more simple and robust system?

Love the videos but I think you could do a lot better if you changed the format.

Can you have a stablecoin that can rise in value, but not drop once it has reached that value?

i loved the last sentence

great video- exactly what i always think too

Inflation's worse than you think because the items from then and now aren't equal. Not too much worse, though

centralized stablecoin are too risky because USA could ban them. What do you think about Synthetix collateralized dollars SNX/sUSD ?

And the escrowed funds held by the custodian are banking with banks that operate on fractional reserves!

lol. Nice advice at the end. Forget about the money! Now my house is on fire too!

canadian tire has had a stable coin since the 60's

"Did you cry? If not, that's the right amount of money." Wow! Well said

eth is a scam coin

"This is how we judge whether this thing is a true blockchain or whether it is a pretender." By " pretender", you meant "bullshit"?

Can someone please send a fraction of a Bitcoin to Andreas, so he can buy a better microphone?

Andreas, let me borrow that shirt!

Sounds interesting but tether is just electronic usd, so just usd, as you said, and dai sounds like a way to charge interest on your ether collateral in your cdp, plus you may get liquidated, and whales could affect governance to thier benefit. A gold backed crypto would be a better option, in my opinion, providing you have a trustworthy way of ensuring that the gold is there (centralised) or can be held by the coin user (decentralised). This could be an investment, and would serve to make gold into a electronic coin with transactions that do not need a bank, just some central store. Still not really a crypto but better than tether or dai.

Thanks for the discussion, always good to learn from you, Andreas!

stability and dollar in the same sentence?

horrible surveillance coin (facebook) that about sums it up…tha antithesis of what the philosophy behind the invention of bitcoin stands for.(censorship resistance)

Weird, I just started researching more about Stablecoins , Derivatives & Securities today as I got stumped on a question about 14 hours ago. Timing or what!

cool shirt!

"SurveillanceCoin" haha be a contrarian and create a coin that's so perverse even Xi Jinping would question its morality. People will still fomo buy during the bullrun. 😛

Does that mean DAI is better alternative than Tether? Every influencer out there said that Tether will go away and this and that… but Tether is still there. And DAI has no wallet of its own, that means if you convert your assets into DAI for some time you have to keep it in exchanges and exchanges can crash or get hacked any time. So is this not a danger also that you are trying to save yourself against market correction or crash and converting your crypto into stable coin but you are keeping that stable coin in exchange.
Also at 13:49 I could not understand that if you get into DAI, you have to get out and get in to save the loss or what is the meaning there?

An interesting thought about DAI compared to the USD: with the USD there is a wealth transfer effect when new USD is printed as those who get the new USD get to spend it before the value has declined. With DAI the wealth effect does not transfer value to the banks and government when the value of DAI is inflated but instead the value is transferred to the individuals who opened CDPs who are able to pay back their loans with the devalued DAI or borrow more DAI at the new low price to sell into the market if DAI is overvalued outside of the maker system (say its trading at a high value on some exchange)

While this is not a financial benefit to DAI holders vs USD holders it is valuable to the crypto ecosystem as a whole.

Nice summary

Great distinction, #Globalcoin is centralised digital money