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Coinbase adds USDC

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Coinbase my favourite wallet storage provider has yet done another activity to extend. 

This time they have added the well known stablecoin or a known stablecoin USDC this coin is a stable coin that belongs to circle. Just like USDT this is another one. 

Users can exchange the coin against bitcoin litecoin ethereum and other coins. 

Source https://news.bitcoin.com/circle-usdc-stablecoin-added-to-coinbase/

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8 minutes ago, Dancer said:

USDC coin is on poloniex too. To be hones I don't see benefits. USDT should be equal to 1 usd but, apparently they have issues. But maybe it will bring something good. We will see.

with the launch of the USDC will the interest of people to transact be better than USDT?

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7 hours ago, dikarico said:

with the launch of the USDC will the interest of people to transact be better than USDT?

That depends on how people take it. USDT is still not considered to be a safe coin to put your money in as a method of hedging your funds. Millions of Tether can be minted and thats not a healthy thing for the crypto economy.

23 minutes ago, arnoldb said:

i hope this coin will also be included in primedice too.

I would not hold my breath on that.

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9 hours ago, MrNice23 said:

Nice move from Coinbase that added USDT, it can b safe an stable  way to hold your money

There are some bad speculations of USDT. The crypto community is not really happy about such a coin and believe it to be a bad thing for the economy. For now fingers crossed. Dont think USDC is going to be any different.

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What I want to know is why we have a need for this many stable coins. I do like the concept of what a stable coin does, but Im really not fond of the fact there are becoming so many of them to choose from. Eventually they will be worth less and less since the market will be flooded with them, and eventually when that happens either too much will be released, causing their demise or the price of them will go well under $1:1 coin. Which will also cripple them as well.

I think there needs to be at least some sort of centralization for stable coins. Not for privacy, but to decrease the chances of market manipulation from one to the next. Tether seems to be the largest stable coin, and the coin has fluctuated so much lately in price. Its easily gone below a dollar, which kind of defeats the whole stable in stable coins. Not sure where this will end up, but we shall see.

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5 hours ago, sourc3code said:

What I want to know is why we have a need for this many stable coins. I do like the concept of what a stable coin does, but Im really not fond of the fact there are becoming so many of them to choose from. Eventually they will be worth less and less since the market will be flooded with them, and eventually when that happens either too much will be released, causing their demise or the price of them will go well under $1:1 coin. Which will also cripple them as well.

I think there needs to be at least some sort of centralization for stable coins. Not for privacy, but to decrease the chances of market manipulation from one to the next. Tether seems to be the largest stable coin, and the coin has fluctuated so much lately in price. Its easily gone below a dollar, which kind of defeats the whole stable in stable coins. Not sure where this will end up, but we shall see.

It all depends on their white papers, goals, mining alghoritms and so on.

Some are just preferenced due to social media feedback or some known guy pushing them over in getting known.

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3 hours ago, DreamStage said:

It all depends on their white papers, goals, mining alghoritms and so on.

Some are just preferenced due to social media feedback or some known guy pushing them over in getting known.

Not exactly so. Some stablecoins are just there for a specific purpose but some are just there to gather a popularity. With time they become difficult to decide which one to trust and which one not to. Tether already has its audit being questioned and people are not liking the fact that its being used to manipulate prices due to its endless supply.

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15 hours ago, UltraChief said:

Not exactly so. Some stablecoins are just there for a specific purpose but some are just there to gather a popularity. With time they become difficult to decide which one to trust and which one not to. Tether already has its audit being questioned and people are not liking the fact that its being used to manipulate prices due to its endless supply.

I agree with all that, but don't you ever read their white papers and search before (hearing some news) in first place?

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23 hours ago, DreamStage said:

It all depends on their white papers, goals, mining alghoritms and so on.

Some are just preferenced due to social media feedback or some known guy pushing them over in getting known. 

Not all coins are mineable. You can get them by airdrops, buying or some other way. However most alt coins always follow btc price. Stable coins as usdc have to find a way to remain at it price.

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8 hours ago, DreamStage said:

I agree with all that, but don't you ever read their white papers and search before (hearing some news) in first place?

There is nothing to read about tether in the first place. Its known by now that Bitfinex did manipulate the market using tether by printing a large volume of it and using it to buy them. But then people also bought the coins at high price and they could sell to make a crash and cash out. This does not have anything to do with the "whitepaper" of tether - its has been called a scam since its inception.

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11 hours ago, UltraChief said:

There is nothing to read about tether in the first place. Its known by now that Bitfinex did manipulate the market using tether by printing a large volume of it and using it to buy them. But then people also bought the coins at high price and they could sell to make a crash and cash out. This does not have anything to do with the "whitepaper" of tether - its has been called a scam since its inception.

Pherhaps you understood me wrong. Im refering to the first statement that i've quoted which was:

And was answering to him in the first place why Community likes to try out / check out new coins.

 

 

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