RE: Binance listed USDC and not SBD

You are viewing a single comment's thread from:

Binance listed USDC and not SBD

in steemit •  6 years ago 

SBD is fundamentally different from stable coins. Stable coins need to have a consistent value, i.e. they are STABLE. Although that was the intent with SBD, and it has a floor value, its price history clearly shows that it is not a STABLE coin.

I wouldn’t trust Tether, and I am hesitant with other stable coins like USDC or True USD. The best bets are trading for actual $ where possible, or bitUSD, mostly on the Bitshares dex.

If Binance was framing this as pick your stable coin, USDC or SBD, frankly that was disingenuous. They are apples and oranges.

The purpose of a stable coin is for price predictability, for the purpose of asset protection/retention or trading. Sure, SBD is a great buy when its value is close to 1$, because you protect your assets with a good chance of significant appreciation. It is a much different story once SBD shoots up to $30. Now your floor represents a 96.67% loss.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

None of that is to suggest Binance should not list SBD; it would be great if they did. I just think your rationale is wrong.