Why would you want that Francesco? UST is an algorithmic

Question

Anchor Protocol

Peter Mika

Why would you want that Francesco? UST is an algorithmic

stablecoin, it has no real connection to US Dollar other then its valuation.

#anchor #cryptocurrency #english

0

12.01.2022

10 ответов

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Peter Mika Автор вопроса

M_The_Great
Why not ? Euro algorithmic stable coins are in the...

Well let's take USDC, with that stablecoin you can Redeem it for a real US Dollar at Coinbase; In my view it's more closely connected to a real fiat currency. On the other hand an algorithimic stablecoin is just pegged to a fiat currency so you can't really redeem from any central party; it's basically a completely synthetic asset .. So the only reason I could think of wanting a EU algo stablcoin, is if you think the Euro is more stable then the Dollar

0

12.01.2022

M_The_Great

You can take UST and redeem if for a real US dollar on coinbase too …

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12.01.2022

S. T.

Peter Mika
Well let's take USDC, with that stablecoin you can...

If fiat money blow up I think anybody cares if it's algoritmic or backed by real dollar. I like algoritmic because not dependent on cex. I would like euro stable too but not cause more stable than dollar, simply because if I need to use my stable to pay for services or buy goods when I convert UST to euro is a taxable event. So if I have a euro stablecoin that can be exchanged 1:1 there's no capital gain

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12.01.2022

AJ

You only pay taxes on profit So in the case you mentioned you would not pay any tax

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12.01.2022

Peter Mika Автор вопроса

AJ
You only pay taxes on profit So in the case you me...

Yeah, so again, my point is I don't see why I would bother with a algorithimic EUR stablecoin, unless you think USD fiat is going to depreciate like the lira or something

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12.01.2022

Art

Peter Mika
Yeah, so again, my point is I don't see why I woul...

Some need EUT to avoid exposure to USD/EUR fluctuations.

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12.01.2022

Peter Mika Автор вопроса

Art
Some need EUT to avoid exposure to USD/EUR fluctua...

I would think those fluctuations are pretty small, I don’t think it would make much of difference and very few people would care

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12.01.2022

Jerry Saliki

M_The_Great
You can take UST and redeem if for a real US dolla...

Yes, but you can't send your UST from Anchor to Coinbase because Coinbase will not accept Terra network. They only use ERC-20. I made the mistake of buying UST in Coinbase just to find out I couldn't transfer it to Anchor. I had to do UST(ERC-20) -> XLM -> USDT -> UST(Terra).

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13.01.2022

Mattt

Jerry Saliki
Yes, but you can't send your UST from Anchor to Co...

There is a much much simpler way and with waaaaay lower fees: https://youtu.be/lBLFXwccITQ

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13.01.2022

M_The_Great · Accepted Answer

M_The_Great

Why not ? Euro algorithmic stable coins are in the making

0

12.01.2022

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Why would you want that Francesco? UST is an algorithmic

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