Ok, so we’ve got a single stable coin that’s been fairly stable for 5 years, good start.
Now, how do I know which ones that were around 5 years ago…would be this stable?
How do I know this one will be stable for another 5 years?
Is there… some kind of objective analysis I can do here, of all stablecoins, to at least have an idea of this, or am I throwing darts while blindfolded?
USDC and USDT have also been stable for quite some time.
USDC might be the only one I’d really trust though. Since it’s backed by Coinbase and Circle, it seems extremely unlikely to break down in any way. Because the powers at be wouldn’t allow it. Too much institutional investment.
sp3ctr4l@lemmy.dbzer0.com 3 weeks ago
Ok, so we’ve got a single stable coin that’s been fairly stable for 5 years, good start.
Now, how do I know which ones that were around 5 years ago…would be this stable?
How do I know this one will be stable for another 5 years?
Is there… some kind of objective analysis I can do here, of all stablecoins, to at least have an idea of this, or am I throwing darts while blindfolded?
prole@lemmy.blahaj.zone 3 weeks ago
USDC and USDT have also been stable for quite some time.
USDC might be the only one I’d really trust though. Since it’s backed by Coinbase and Circle, it seems extremely unlikely to break down in any way. Because the powers at be wouldn’t allow it. Too much institutional investment.
explodicle@sh.itjust.works 3 weeks ago
Yes, by which ones are peer to peer and which ones are centralized. That’s also why there doesn’t need to be a bunch of them.
sp3ctr4l@lemmy.dbzer0.com 3 weeks ago
Cool, how do I determine that?
Is there some kind of… universal metric, a p2p to centralized scale, that is accurate, transparent, and stays basically the same… for a deacde?
explodicle@sh.itjust.works 3 weeks ago
Unfortunately not, it’s like picking the right Unix-like OS in 2003.