What is a Stablecoin? (How they work - ANIMATED)

When trading from one coin to anther should I use a stable coin as the middle go-between then..?
Is that right.? Thanks x

I love your work brother! You're doing a great job for the community 🎉 thank you

But it is volatile it fluctuates according to the value of the dollar 🤦‍♂️if you buy $50 worth of stable coin for $50 and then sell that 50 stable coins for $50 20 years later that same $50 wont buy you as much as it did when you first spent it 20 years ago

Soon a new Stable coin will emerge called USDe and it sounds pretty promising. Its by Ethena Labs and They're creating derivative infrastructure to turn Ethereum into a crypto-native yield-bearing stablecoin called USDe.

Money glitch crypto=currency

so its a ponzi

You hope to see me next time? How would you do that?

📖 If high technology subjects like Blockchain had more illustrative breakdowns to help transfer the lesson to the viewer, motivation would be at a revolutionary high‼️

Half of what u say isnt true

The problem i have with stable coins, is that they are backed by FIAT .
FIAT is backed by nothing since the dollar went off the gold standard in 1971 and there for has no intrinsic value .

The Whole point of Bitcoin was to get a decentralized digital monetary system, that no few individuals have control over , or can print into existence on papers at will and give it a value they say soo.

Whats the point then of having crypto being backed by FIAT like stable coins ??

OUTDATED BIG TIME!!!

🤌

Excellent explanation - in particular, with mentioning how Tether has not been fully transparent with how their funds are stored. That being said, Tether is the largest stablecoin by market capitalization

This aged well... 🤣 RIP USC

Can you please do a video on xhv and xusd?

Question, you talked about centralized and decentralized exchanges. It was said that stablecoind is traded on a decentralized exchange, But isn't stablecoine also traded on Coinbase that is a centralized exchange? 🤔 Please feel free to comment!

Sounds like a huge scam

This channel so valuable.

Most of the stable coins aren't backed by fiat 1 to 1.

my grandfather is Albert Einstein

here's your reminder to make a video explaining the 3 stable coin algos. We can't wait to see it! happy thanksgiving

the concept of exchanging real currency to a "stablecoin currency" sounds ok.. theoretically.

the problem lies on whether the people who created the stablecoin can start printing their own money.. then every centralized exchange, and every individual holding "stable" coins are screwed.

the main way a stablecoin's crash would affect other crypto is IF and when people who made a stablecoin, starts printing their own money to BUY other cryptos.

coz that would mean they are essentially buying it for zero..

Not true that stable coins cannot be invested. They are invested in all kinds of dangerous things.

All stable coins to eventually become untethered, unstable. They're not decentralized. They're ponzi schemes.

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great video....one quick question when you mention fiat collateralization you say that coins are backed by fiat money like usd and euro, but then who backs the usd or the euro or any other fiat currency worldwide? i believe there is no fiat currency that is backed by gold or anything else besides faith that we put into hard and physical money or digital numbers stored in a regular bank.

Please which animation software did you use to create your videos.

You don't need to be hyper new generation think if they're noisy they're impressive

I want to invest in the crypto market💯💯 I need a reliable broker that will help me trade my coin and make profits Any recommendations?.

I think I'm leaning towards tether at the moment due to the decentralization in the future, that would be nice

The entire idea of BTC is to create a money that does not devaluate like fiats. Stablecoins are an idea that a money should precisely devaluate just like fiats. The advantages of stablecoins are efficiency, low cost liquidity, and possible anonymity.

Great video and writing ✍️🏿 animation

watching this in 2022. awkward

Can somebody please explain me how the concept of collateral money keeps it decentralised plus how the wallet algorithm keep managing the amount of coins by an algorithm which could be changed by the company and most importantly how is it different for wallets like binance etc

What I learned is that I should stay away from this crap

Quite informative. The only 2 reasons which kept me from subscribing though are the constant reminders to subscribe and the kind of double intro, explaining whiteboard crypto two times in the first quarter of the vid.

Do we have stable token?

Hi Whiteboard Crypto. Who can we look for to create a stablecoin that peg to a dollar. Not USD but other currency.

decent story about stablecoins I was really curious to hear about tether

Stablecoins = Ponzi Scheme

Stablecoins are as stable as Terra Luna. Just ask Do Kwon. lol

Not that stable huh?..

they work, especially tether

So basically a scam? lol.

"Decentralized exchanges are run by code, and it can only change when the codes are changed". Question: who can change the code?

This did not age well

Where and how do you invest you're money?

ADA the best Stable Coin!!!

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