What is your opinion on stablecoins, in terms of their ability to achieve mass adoption? Will they be able to avoid centralised control and censorship? How does MakerDAO / DAI work and how is it different from other stablecoins so far?

These questions are from the April monthly subscriber session, which took place on April 20th 2019. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

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Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in Bitcoin. He is the author of “Mastering Bitcoin,” “The Internet of Money” series, and “Mastering Ethereum.”

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

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MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9

Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/

THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs
THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ

Translations of THE INTERNET OF MONEY:
Spanish, ‘Internet del Dinero’ (v1) – https://amzn.to/2yoaTTq
German, ‘Das Internet des Geldes’ (v1) – https://amzn.to/2LEiyqO
German, ‘Das Internet des Geldes’ (v2) – https://amzn.to/2VCzse5
French, ‘L’internet de l’argent’ (v1) – https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390
Russian, ‘Интернет денег’ (v1) – https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg
Vietnamese, ‘Internet Của Tiền Tệ’ (v1) – https://alphabooks.vn/khi-tien-len-mang

MASTERING ETHEREUM: https://amzn.to/2xdxmlK

Music: “Unbounded” by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)

source

46 COMMENTS

  1. 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.

  2. "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. 😀

  3. 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.

  4. 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?

  5. 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

  6. 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!

  7. 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.

  8. 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?

  9. 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!

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

  11. "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. 😛

  12. 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?

  13. 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.

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