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#76 2023-03-18 18:54:55

KingCRP
Member
Registered: 2023-01-06
Posts: 1,054

Re: The forum special board

Stablecoin is probably the biggest risk in cryptocurrency today and this situation is also affecting genuine stablecoin, many people are very scared to even save their asset in stablecoin anymore I don’t know what can be done about the situation.

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#77 2023-03-18 19:02:18

Kelechi
Member
Registered: 2022-12-25
Posts: 2,319

Re: The forum special board

Speaking of stablecoin how is UUSD doing and has anyone heard some complain about UUSD, although I haven't yet tried saving my asset in stablecoin but I had plans to do so soon.

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#78 2023-03-18 19:05:59

Detroit
Member
Registered: 2022-12-27
Posts: 1,485

Re: The forum special board

KingCRP;5986 wrote:

Stablecoin is probably the biggest risk in cryptocurrency today and this situation is also affecting genuine stablecoin, many people are very scared to even save their asset in stablecoin anymore I don’t know what can be done about the situation.

I think the obvious solution is to stop saving money or assets with stablecoins since they are no longer reliable.  People can move on with using other times of coins like Crypton, bitcoin, Ethereum, etc.

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#79 2023-03-18 20:39:30

KingCRP
Member
Registered: 2023-01-06
Posts: 1,054

Re: The forum special board

Detroit;5992 wrote:
KingCRP;5986 wrote:

Stablecoin is probably the biggest risk in cryptocurrency today and this situation is also affecting genuine stablecoin, many people are very scared to even save their asset in stablecoin anymore I don’t know what can be done about the situation.

I think the obvious solution is to stop saving money or assets with stablecoins since they are no longer reliable.  People can move on with using other times of coins like Crypton, bitcoin, Ethereum, etc.

Well many of us are cryptocurrency enthusiast and we value saving money in cryptocurrency and we choose to save in stablecoin to avoid volatility, I believe UUSD the stablecoin of Utopiap2p is very safe.

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#80 2023-03-18 21:21:02

KAMSI_UG
Member
Registered: 2022-12-26
Posts: 2,040

Re: The forum special board

I Don’t think is wise to cut of Stablecoin completely because a particular stablecoin failed, no it’s wrong. I have been using UUSD and I have not had any issues with it.

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#81 2023-03-18 21:42:24

JONSNOWING
Member
Registered: 2023-01-06
Posts: 1,071

Re: The forum special board

KAMSI_UG;6018 wrote:

I Don’t think is wise to cut of Stablecoin completely because a particular stablecoin failed, no it’s wrong. I have been using UUSD and I have not had any issues with it.

Many are advising people to switch to using more of usdt but truth be told using usdt would be worse than the situation those who used USDC are facing now. Usdt has been linked to crashing for a long time soon, I hope it doesn't take people unaware.

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#82 2023-03-19 12:59:07

Camavinga
Member
Registered: 2023-01-06
Posts: 836

Re: The forum special board

KAMSI_UG;6018 wrote:

I Don’t think is wise to cut of Stablecoin completely because a particular stablecoin failed, no it’s wrong. I have been using UUSD and I have not had any issues with it.

It is normal for people to feel this way, especially people who do not understand crypto well, the situation with USDC was a bad one that affected a lot of people’s confidence in stable coins and it will take a lot of time for that confidence to return. UUSD is a very good stable coin, and what we can do now is to tell more people about it, so they can start using it confidently.

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#83 2023-03-19 18:05:32

Cat
Member
Registered: 2023-03-11
Posts: 153

Re: The forum special board

Camavinga;6074 wrote:

<div class="quotebox"><cite>KAMSI_UG;6018 wrote:</cite><blockquote><div><p>I Don’t think is wise to cut of Stablecoin completely because a particular stablecoin failed, no it’s wrong. I have been using UUSD and I have not had any issues with it.</p></div></blockquote></div><p>It is normal for people to feel this way, especially people who do not understand crypto well, the situation with USDC was a bad one that affected a lot of people’s confidence in stable coins and it will take a lot of time for that confidence to return. UUSD is a very good stable coin, and what we can do now is to tell more people about it, so they can start using it confidently.</p>

is there any chance of its value going up ?

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#84 2023-03-19 18:12:51

Cat
Member
Registered: 2023-03-11
Posts: 153

Re: The forum special board

KAMSI_UG;6018 wrote:

I Don’t think is wise to cut of Stablecoin completely because a particular stablecoin failed, no it’s wrong. I have been using UUSD and I have not had any issues with it.

what is it supported by ? all crypto depends on bitcoin .

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#85 2023-03-19 18:14:31

Cat
Member
Registered: 2023-03-11
Posts: 153

Re: The forum special board

Detroit;5992 wrote:

стейблкоинов

What's wrong with stabelcoins? They're still reliable

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#86 2023-03-19 20:13:40

CrytoCynthia
Member
Registered: 2022-11-19
Posts: 2,416

Re: The forum special board

And again Manchester United keeps pushing on. I believe this team is ready to take on the world. It’s a pity the started the good form late in the season.

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#87 2023-03-19 21:15:09

KingCRP
Member
Registered: 2023-01-06
Posts: 1,054

Re: The forum special board

Camavinga;6074 wrote:
KAMSI_UG;6018 wrote:

I Don’t think is wise to cut of Stablecoin completely because a particular stablecoin failed, no it’s wrong. I have been using UUSD and I have not had any issues with it.

It is normal for people to feel this way, especially people who do not understand crypto well, the situation with USDC was a bad one that affected a lot of people’s confidence in stable coins and it will take a lot of time for that confidence to return. UUSD is a very good stable coin, and what we can do now is to tell more people about it, so they can start using it confidently.

Well if that’s the case with the case of FTX were we too harsh on centralized exchanges in general since it was only FTX that caused the most recent issues about centralized exchanges.

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#88 2023-03-19 21:18:07

KAMSI_UG
Member
Registered: 2022-12-26
Posts: 2,040

Re: The forum special board

KingCRP;6128 wrote:
Camavinga;6074 wrote:
KAMSI_UG;6018 wrote:

I Don’t think is wise to cut of Stablecoin completely because a particular stablecoin failed, no it’s wrong. I have been using UUSD and I have not had any issues with it.

It is normal for people to feel this way, especially people who do not understand crypto well, the situation with USDC was a bad one that affected a lot of people’s confidence in stable coins and it will take a lot of time for that confidence to return. UUSD is a very good stable coin, and what we can do now is to tell more people about it, so they can start using it confidently.

Well if that’s the case with the case of FTX were we too harsh on centralized exchanges in general since it was only FTX that caused the most recent issues about centralized exchanges.

No mate those two cases aren’t the same. The issues with centralized exchanges is not about the problem of FTX it has started before that and the FTX issues just proves the possibilities and not just that your anonymity is compromised on such exchanges.

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#89 2023-03-19 21:21:50

Detroit
Member
Registered: 2022-12-27
Posts: 1,485

Re: The forum special board

CrytoCynthia;6105 wrote:

And again Manchester United keeps pushing on. I believe this team is ready to take on the world. It’s a pity the started the good form late in the season.

You are right mate. Manchester United needs a lot of work currently. They lack tactics and strategies at the moment. The management of the club is nothing to write home about. I hope they retrieve all these so they can go back to the top.

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#90 2023-03-19 21:50:48

Kelechi
Member
Registered: 2022-12-25
Posts: 2,319

Re: The forum special board

KAMSI_UG;6130 wrote:
KingCRP;6128 wrote:
Camavinga;6074 wrote:

It is normal for people to feel this way, especially people who do not understand crypto well, the situation with USDC was a bad one that affected a lot of people’s confidence in stable coins and it will take a lot of time for that confidence to return. UUSD is a very good stable coin, and what we can do now is to tell more people about it, so they can start using it confidently.

Well if that’s the case with the case of FTX were we too harsh on centralized exchanges in general since it was only FTX that caused the most recent issues about centralized exchanges.

No mate those two cases aren’t the same. The issues with centralized exchanges is not about the problem of FTX it has started before that and the FTX issues just proves the possibilities and not just that your anonymity is compromised on such exchanges.

FTX case is the case of not your seed phase not your wallet, not only did those users risk it all including their privacy by choosing centralized exchange, they went the extra mile to make the mistake of leaving their cryptos on an exchange.

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#91 2023-03-19 23:15:05

JONSNOWING
Member
Registered: 2023-01-06
Posts: 1,071

Re: The forum special board

KAMSI_UG;6018 wrote:

I Don’t think is wise to cut of Stablecoin completely because a particular stablecoin failed, no it’s wrong. I have been using UUSD and I have not had any issues with it.

Well you won't blame most people many times when people discuss about cryptocurrency especially those without knowledge of it, they mostly try to put fear in themselves about the risk of cryptocurrency and now this is fueling such believes.

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#92 2023-03-20 08:21:58

Cat
Member
Registered: 2023-03-11
Posts: 153

Re: The forum special board

JONSNOWING;6163 wrote:

<div class="quotebox"><cite>KAMSI_UG;6018 wrote:</cite><blockquote><div><p>I Don’t think is wise to cut of Stablecoin completely because a particular stablecoin failed, no it’s wrong. I have been using UUSD and I have not had any issues with it.</p></div></blockquote></div><p> Well you won&#039;t blame most people many times when people discuss about cryptocurrency especially those without knowledge of it, they mostly try to put fear in themselves about the risk of cryptocurrency and now this is fueling such believes.</p>

But how can people discuss what they don't understand? It's the same as a random passer-by walking into an operating theatre and telling a surgeon how to work.

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#93 2023-03-20 08:57:23

Camavinga
Member
Registered: 2023-01-06
Posts: 836

Re: The forum special board

Kelechi;6141 wrote:

FTX case is the case of not your seed phase not your wallet, not only did those users risk it all including their privacy by choosing centralized exchange, they went the extra mile to make the mistake of leaving their cryptos on an exchange.

And the crazy thing here is that FTX isn’t the first exchange that has collapsed, meaning people already know that exchanges can collapse with their money, so why didn’t they do the right thing. I feel a lot of people are lazy to be their own bank, they would rather choose these exchanges to do it for them, and they will face the consequences when the exchange fails.

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#94 2023-03-20 18:29:08

Lanistergame2
Member
Registered: 2022-12-25
Posts: 1,682

Re: The forum special board

Kelechi;6141 wrote:

FTX case is the case of not your seed phase not your wallet, not only did those users risk it all including their privacy by choosing centralized exchange, they went the extra mile to make the mistake of leaving their cryptos on an exchange.

To them it was not a mistake and they would repeat it if given the opportunity cause they have gotten used to trusting an establishment like the banks or government and are not ready to be unregulated and free.

There has been numerous hacks in the past and people still leave their money with centralized platforms.

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#95 2023-03-20 20:24:18

KingCRP
Member
Registered: 2023-01-06
Posts: 1,054

Re: The forum special board

Anyone using centralized exchange in this day and time should be prepared for anything. Not only would you probably lose your funds so easily you are also putting your private details at risk to.

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#96 2023-03-20 20:56:31

CrytoCynthia
Member
Registered: 2022-11-19
Posts: 2,416

Re: The forum special board

KingCRP;6251 wrote:

Anyone using centralized exchange in this day and time should be prepared for anything. Not only would you probably lose your funds so easily you are also putting your private details at risk too.

Well using centralized exchange when you are comfortable with risking your private details is okay by me but my warning is that when using centralized exchanges or any other exchanges even decentralized you should never leave your coins in there.

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#97 2023-03-21 12:01:58

Camavinga
Member
Registered: 2023-01-06
Posts: 836

Re: The forum special board

KingCRP;6251 wrote:

Anyone using centralized exchange in this day and time should be prepared for anything. Not only would you probably lose your funds so easily you are also putting your private details at risk to.

There is nothing too wrong with using centralized exchanges, that is if you do not care about submitting KYC information. What is the wrong thing to do is to leave your funds in the centralized exchanges, you should move your funds into your non custodial wallet after your trade on the exchange.

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#98 2023-03-21 18:12:55

Lanistergame2
Member
Registered: 2022-12-25
Posts: 1,682

Re: The forum special board

CrytoCynthia;6264 wrote:

Well using centralized exchange when you are comfortable with risking your private details is okay by me but my warning is that when using centralized exchanges or any other exchanges even decentralized you should never leave your coins in there.

Ideally, in a decentralized and peer to peer exchange, your coins should never be in their custody at all, so you cannot leave it there. What you do is link your wallet to your exchange profile and transact that way through smart contracts with the buyer. It gives full autonomy to the exchange users.

A centralized exchange is built to function differently even if they have a peer to peer section.

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#99 2023-03-21 18:27:59

Detroit
Member
Registered: 2022-12-27
Posts: 1,485

Re: The forum special board

Camavinga;6346 wrote:
KingCRP;6251 wrote:

Anyone using centralized exchange in this day and time should be prepared for anything. Not only would you probably lose your funds so easily you are also putting your private details at risk to.

There is nothing too wrong with using centralized exchanges, that is if you do not care about submitting KYC information. What is the wrong thing to do is to leave your funds in the centralized exchanges, you should move your funds into your non custodial wallet after your trade on the exchange.

You are absolutely correct.  Using a centralized exchange is not tg problem but leaving your funds or using centralized exchanges as a bank is where the problem comes in.  It can cause a whole lot of problems

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#100 2023-03-21 18:33:51

Detroit
Member
Registered: 2022-12-27
Posts: 1,485

Re: The forum special board

Lanistergame2;6357 wrote:
CrytoCynthia;6264 wrote:

Well using centralized exchange when you are comfortable with risking your private d ttails is okay by me but my warning is that when using centralized exchanges or any other exchanges even decentralized you should never leave your coins in there.

Ideally, in a decentralized and peer to peer exchange, your coins should never be in their custody at all, so you cannot leave it there. What you do is link your wallet to your exchange profile and transact that way through smart contracts with the buyer. It gives full autonomy to the exchange users.

A centralized exchange is built to function differently even if they have a peer to peer section.

I find this piece of information a bit hard to understand. If you don't mind kindly throw more light on it. Are you saying peer-to-peer is not recognized on centralized exchanges?

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