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Hi Guys,
Longest time.
I believe for those of us that follow the cryptocurrency news we're already aware of the news surrounding the stablecoin market where some are currently de-pegged an example is the GUSD and at the time of writing this USDC and DAI were at $0.92, $0.93 respectively.
What brings up the creation of this topic is that I once read that the UUSD was backed with DAI cryptocurrency as collateral and can be publicly verified on https://etherscan.io/address/0x2Cf6717f … 898651C270
Since the DAI stablecoin is de-peg will it affect UUSD?
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The issue of the stablecoin de-pegged is scary and it happened by surprised because I don't expect the USDC and DAI to have an issue at all and the stablecoin I was expecting to de-pegged is the BUSD.
Having said that, the UtopiaP2P ecosystem is a project of 6-7 years of research and studies. Therefore, any form of drawback is out of the subject, and from what I see I believe the UtopiaP2P dev team has did some changes with UUSD which won't let it de-pegged, and if you look at the UUSD price now you'll see that its the only stablecoin that's currently at $1.01 price
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Guys be very careful with USDC there has been recent complaints about this stable coin and it has rekt so many that are saving their asset in that stable coin. Well I prefer to use Usdt or UUSD because it’s more secured and also accurately pegged to the US dollars.
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I have always have this thought that all stable coins are very safe and I have never for once feared any of them but with the incident of usdc I am starting to get skeptical about stable coin, I haven't used UUSD for too long so can someone enlighten me more about it.
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Not all stable coin are safe and I have heard some s about Usdt not even being safe so guys let’s all still up our security mindset, I have not used UUSD for to long but so far I believe it’s very safe.
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<p>Not all stable coin are safe and I have heard some s about Usdt not even being safe so guys let’s all still up our security mindset, I have not used UUSD for to long but so far I believe it’s very safe.</p>
all cryptocurrencies are insecure, what do you think?
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I have always have this thought that all stable coins are very safe and I have never for once feared any of them but with the incident of usdc I am starting to get skeptical about stable coin, I haven't used UUSD for too long so can someone enlighten me more about it.
what kind of incident, please tell us in more detail
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Hey guys what do you all think about the fact that when ever some negative occurrences happens in cryptocurrency affects even those projects that where not involved in it, for example the USDC case is giving a bad name to other stablecoin.
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<p>Hey guys what do you all think about the fact that when ever some negative occurrences happens in cryptocurrency affects even those projects that where not involved in it, for example the USDC case is giving a bad name to other stablecoin.</p>
In fact, all cryptocurrencies are linked in one way or another, mostly through bitcoin. So if one cryptocurrency suffers, others will also be affected.
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Guys be very careful with USDC there has been recent complaints about this stable coin and it has rekt so many that are saving their asset in that stable coin. Well I prefer to use Usdt or UUSD because it’s more secured and also accurately pegged to the US dollars.
You also be careful of USDT either because they once had the issue of fraudulently market cap where they used the investor's fund to support a cryptocurrency exchange called BitFinex within the year 2017-2019 if I could remember.
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KingCRP;5364 wrote:Guys be very careful with USDC there has been recent complaints about this stable coin and it has rekt so many that are saving their asset in that stable coin. Well I prefer to use Usdt or UUSD because it’s more secured and also accurately pegged to the US dollars.
You also be careful of USDT either because they once had the issue of fraudulently market cap where they used the investor's fund to support a cryptocurrency exchange called BitFinex within the year 2017-2019 if I could remember.
Sometime around last year I can remember some one warning me about Usdt and the dangers in Carries I don’t know how true it is but many people are worried about stablecoin what do you think about stablecoin and it’s potentials.
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USDC was depegged due to their crisis with silicon valley bank, I definitely fear for stable coin but I have confidence in UUSD.
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USDC was depegged due to their crisis with silicon valley bank, I definitely fear for stable coin but I have confidence in UUSD.
That’s true also not every other stablecoin available right now is save also that’s why I use the stablecoin from Utopia p2p it’s not had those issues.
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Was there any news about UUSD getting de-peg? I haven’t read such news so I don’t know why anyone would think that way, so op what was your reason for say that?
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I understand everyone skepticism on stable coin right now, I am even scared to save in any stablecoin do any one also feel like there is a danger looming on stablecoins?
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USDC was depegged due to their crisis with silicon valley bank, I definitely fear for stable coin but I have confidence in UUSD.
That may be the situation but USDC was de-pegged because it wasn't fundamentally strong and I think it's the time inexperienced developer team learned from the UtopiaP2P developer.
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Kelechi;7604 wrote:USDC was depegged due to their crisis with silicon valley bank, I definitely fear for stable coin but I have confidence in UUSD.
That may be the situation but USDC was de-pegged because it wasn't fundamentally strong and I think it's the time inexperienced developer team learned from the UtopiaP2P developer.
I think it's time that all the stablecoin project developers learn from the mistake made by the USDC because the mistake was just like the TerraUSD mistake.
I am glad to have learn about the Utopia project before now.
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I understand everyone skepticism on stable coin right now, I am even scared to save in any stablecoin do any one also feel like there is a danger looming on stablecoins?
Stable coins are good it all depends on the type. The one Utopia is offering seems to be very good. With structure surrounding it, it shows that it has a strong foundation.
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KingCRP;7790 wrote:I understand everyone skepticism on stable coin right now, I am even scared to save in any stablecoin do any one also feel like there is a danger looming on stablecoins?
Stable coins are good it all depends on the type. The one Utopia is offering seems to be very good. With structure surrounding it, it shows that it has a strong foundation.
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The truth be told is that stablecoin can not just get depegg just like that without there being any reason as to why, so far the strong stable coin has to be UUSD and then Usdt.
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The truth be told is that stablecoin can not just get depegg just like that without there being any reason as to why, so far the strong stable coin has to be UUSD and then Usdt.
Actually of a stablecoin goes bankrupt it can actually be depegged I believe that's what happened to USDC and their saga with silicon valley bank.
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KingCRP;7911 wrote:The truth be told is that stablecoin can not just get depegg just like that without there being any reason as to why, so far the strong stable coin has to be UUSD and then Usdt.
Actually of a stablecoin goes bankrupt it can actually be depegged I believe that's what happened to USDC and their saga with silicon valley bank.
I think its more reasonable to knows enlighten ourselves about factors that affect stablecoin and other coins as well. Its well understood that coin can be relatively connected but if the market structures is strong enough then the effect will be minor.
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Well stable coin like USDC had issues and got delisted from the dollar rating, the issue was between USDC and silicon valley bank this sort of things may be the reason people are scared of stable coin.
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Well stable coin like USDC had issues and got delisted from the dollar rating, the issue was between USDC and silicon valley bank this sort of things may be the reason people are scared of stable coin.
I heard about issues but I wasn't worried then about using stable can and I am not worried now if you are using a solid be stable coin like USDT Uusd then you should be a bit chill.
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KingCRP;10896 wrote:Well stable coin like USDC had issues and got delisted from the dollar rating, the issue was between USDC and silicon valley bank this sort of things may be the reason people are scared of stable coin.
I heard about issues but I wasn't worried then about using stable can and I am not worried now if you are using a solid be stable coin like USDT Uusd then you should be a bit chill.
Are you aware that the news about USDT crashing was very strong last year, you just always have to be on your guard regardless of the type of stable coin you under.
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