RE: Cash is Trash... Until it isn't by jfang003

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hive-167922 · @jfang003 · Jun 29 '21

$0.08

What do you think about the stability of stable coins? I believe that stable coin named IRON was hit by the Titan stuff and obviously Tether and others have their own rumors/issues.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-edicted-zttpp)

👍 edicted, freebornsociety, aenor

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@edicted · Jun 29 '21

You can't really compare algorithmic stable coins to those that are backed by dollars in a real bank.  IRON was ridiculously flawed.  Tether is doing just fine.  There are so many exaggerations regarding Tether and Bitfinex.

👍 jfang003

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@jfang003 · Jun 29 '21

Ah ok. So avoid algorithmic stable coins and try to stick to the normal ones backed by assets.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-edicted-77gl1s)

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@edicted · Jun 29 '21

I actually prefer algorithmic stable coins, but the new untested ones are extremely risky.  DAI is my favorite so far.  Has lots of time in the field. 

Both kinds of stable coins have completely different attack vectors. 
If there is a banking crisis and banks go insolvent USD-backed coins could fail.

👍 jfang003

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