DAI

Mr_Locke

Tried to look up what DAI was and found like 5 different coins. Seems to be a coin built on etherium but set up as a stable coin. 1.) why would you do this to prevent freezing? 2.) why are there like 5 different DAIs?

coinfeeds-bot

tldr; An Ethereum user lost $700,000 in USDT to an address poisoning scam, where scammers create wallet addresses resembling legitimate ones to deceive victims. The attacker sent a small transaction to mimic a Binance wallet the victim had just interacted with, leading the victim to send a large sum to the scammer. The funds were quickly converted to DAI to avoid freezing. Experts advise double-checking full wallet addresses and avoiding reliance on truncated or transaction history addresses to prevent such scams. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

alfchaval

Hi Many banks in certain countries, including Bosnia and Herzegovina, have very strict policies regarding cryptocurrency transactions, which can make both investing and cashing out challenging. As you rightly pointed out, in many cases, banks view incoming crypto-related funds as high risk. Given your circumstances, here are a few general suggestions to consider: • Peer-to-Peer (P2P) platforms: Services like Binance P2P, Paxful, or others allow you to sell BTC directly to other individuals, often using local payment methods. Make sure to use escrow services and reputable traders to stay safe. • Crypto-friendly banks or neobanks: Some users choose to open accounts with banks in nearby countries or online-only banks that are more crypto-friendly (where possible). • Stablecoins: Some users hold stablecoins like USDT, USDC, or DAI instead of cashing out immediately. These can sometimes be easier to move around until a better cash-out opportunity is found. • Long-term HODL approach: Since you mentioned you don’t plan to sell soon, continuing DCA and securely holding your BTC for the long term might be the best strategy for now.

TripTryad

73.63% is the high on Tradingview if you use the BTC.D ticker. Of course things are going to vary depending on source, but I prefer to use tradingview for consistency. In any case using tradingview with: CRYPTOCAP:BTC.D*CRYPTOCAP:TOTAL/(CRYPTOCAP:TOTAL-CRYPTOCAP:USDC-CRYPTOCAP:USDT-CRYPTOCAP:DAI-GLASSNODE:BUSD_MARKETCAP) For the dominance minus many stables you get a high of 75.93 Dec 20th 2021. It should all be relative for the most part however. The real point is that we have some distance before we even hit the level we hit last cycle, so I assume theres more room for it to rise.

coinfeeds-bot

tldr; An Ethereum whale was liquidated for $106 million on the Sky DeFi platform after Ether's price dropped 14% on April 6. The whale's collateralized debt position fell below the required ratio, triggering liquidation. Sky seized the ETH collateral, auctioned it to repay the borrowed DAI, and returned any remaining collateral. Another whale is close to liquidation as ETH prices continue to drop, with the crypto market experiencing significant losses. Over $1 billion in liquidations occurred in the past 24 hours, mostly involving ETH positions. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

biba8163

- Buy Shitcoin in Bear - Sell Shitcoin in Bull - Profit - Repeat - Get Rich - The cycles provide the blueprint. I am crypto veteran, trust me Reminder that your Shitcoin is not a Goose that will continue to lay golden eggs for you just because it did it once or twice. > I really think Dec-Jan as the perfect storm for Nano/Raiblocks. Bitcoin had reached the peak of the bullrun and was starting to dump and people were chasing profits in every shitcoin out there with money they had just 15-20X. Also, there was constant press and news about Bitcoin high fees and slow transaction times. Suddenly you have a crypto that has zero fees and is instant. People buy it and the price only goes up because there is zero liquidity due it only being available on 2 shitty exchanges. Lack of liquidity hurts when you dump but can pump the hell out of price when there is demand.....I don't know if/when it'll take off again. But to hold a large percentage of your portfolio hoping this will suddenly boom like it did in the perfect storm scenario is foolish. https://np.reddit.com/r/CryptoCurrency/comments/c1v9or/daily_discussion_june_18_2019_gmt0/erg19v5/ > I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria. > One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdvkce/

biba8163

> I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria. > One of the things people seem to be missing is **how much of a leveraged casino coin ETH was that drove this rise.** Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdvkce/

penarhw

Not overthinking at all, stablecoins have different trade-offs, some prioritize decentralization (DAI), others liquidity (USDC), and some offer native yield (RLUSD, sDAI). It’s less about redundancy and more about choice. Personally, I use Spark to earn 4.5% on stablecoins while staying liquid.

riscten

Oh there absolutely are taxes with stablecoins. Every trade is a taxable event. If you sell BTC for USDT, USDC or DAI, and have made a profit, you are expected to report that gain and pay taxes. DEXes are about giving you full authority over what you do with the reporting, and about maximizing control over your coins. A good spot DEX will never hold your coins like a CEX does, the moment you send money, the trade is executed and you are sent back what you bought, to your own non-custodian wallet.

biba8163

This is more of an indicator of the confidence in ETH than a market cycle indicator. Remember ETH is a Leveraged Casino Coin. One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment.

Spoofik

Stablecoins retain their value and on top of that you can expect to get 7-12% APR in USD. There are more complex and risky strategies with little-known coins, but the rewards are higher. If your goal is just to wait out the bear market and save money, choose USDT/USDC/DAI pools and you will be fine. Here, for example, is a list of all the stablecoins that have ever been issued. coinlore.com/stablecoins

MichaelAischmann

So you can use a decentralized alternative like DAI.

biba8163

> I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria. > One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. > BTC parabolic moves, leveraged native ETH to mint DAI, DeFi casino narrative, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money > It was a perfect storm. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdygp1/?context=3

minibuddy0

I'm sure that it would, I'm especially looking at stables like USDT and USDC, where my concern is are the ones bagged by crypto assets like deUSD, DAI, sUSD. Do you think they can have the same trust score that the first two already have, and do you think these ones 10x? especially for very new ones like deUSD for example.

J-96788-EU

And DAI was nuked into irrelevance?

ronchon

For example: the original DAI concept was pretty decentralized and simple back when it was only backed by Ethereum. Then it was swapped for a different token that could be backed by multiple collaterals. That inevitably led to collateral being USDC and Tether at 70%+ so it became pointless: all the risks with none of the perks.

Throwaway4VPN

I do understand liquidity, I actually hadn't realised DAI trading volume was that low. I mainly use DAI (not $25m however) as my go to stable since Maker launched really - really interesting to see the difference in volume so large! Also great analogy, I had heard it before but it really puts things in perspective. Thanks!

DeviMon1

Liquidity isn't about how much coins are in circulation and neither the market cap size. The closest thing you can look at is the trading volume, which for DAI is about 100million. For tether in comparison it's 100 billion. It's so many orders of magnitude higher it's not even a comparison. The best way I explain billions to people is with this simple one liner. A million seconds is 11days. A billion seconds is 31 years.

ronchon

DAI stopped being decentralized long time ago. Last I checked it was pretty much just USDC with extra steps and risks.

Throwaway4VPN

$25m? There are $5.4Bn in DAI circulating.

TRADER-RETARD

Where shold they have put their money? DAI?

saltybawls

USDC, USDT, DAI. Wait for the next dump.

Background_Home7092

Lark Davis's newsletter today raised a really good point: >This is the total stablecoin market cap. Tether, USDC, DAI, all of it. We hit an ATH of $226B, on Feb. 21st. And where are we now, after this major market correction? $224B. Yes, you read that correctly. We had this big downwards move, and only $2B in stables were redeemed for fiat. That’s nothing. Less than 1% of stablecoins were cashed out in this correction, so people are sitting on the sidelines ready to jump back in once we find support. This run is FAR from over.

Select-Let8637

Obviously it could fail. I only put in what I can risk and most of my porfolio is usdc. "Such as?" Hold hup There are apps like fluid instapp where you can lend usdc for an 9% apy on ethereum/base via defi. [https://fluid.instadapp.io/lending/1](https://fluid.instadapp.io/lending/1) Or use stuff like **Flux Finance** from ONDO. Which gets yeild from normal assets bonds etc. The yeild is lower at 4.8% but it isn't effected by the broader crypto market so it won't dump during a bear market [https://fluxfinance.com/](https://fluxfinance.com/) Or you can put your usdc and usdt in liquidity pools and earn fees from people doing swaps. Though the Apr is a bit low right now at 2%. [https://de.fi/opportunity/protocol/uniswap-v3/ethereum/usdc+usdt](https://de.fi/opportunity/protocol/uniswap-v3/ethereum/usdc+usdt) Or you can use yeild bearing stablecoin some of it is defi related and has higher yeild like sUSDS (formerly DAI) with 8.75% yeild. [https://app.spark.fi/](https://app.spark.fi/) Or usde with 9% apy [https://ethena.fi/](https://ethena.fi/) These come with more risk essentially as whilst the yeild is good who knows if this coins will continue to survive, personally though I wouldn't be worried about usds as usds/DAI has been around forever and the guys over there are legit. And fluidistaap is legit imo they got funding from coinbase. **Paxos Lift Dollar (from the same guys that made PAX GOLD)** Uses yeild from normal stuff like bonds with a 3.35 Apr Mountain PROTOCOL does the same thing but has a higher Apr at 4.7% [**Angle.money**](http://Angle.money) A mix of real estate and other assets. The apy is around 9%. Ondo usdy which has a 4.35% yeild. [https://ondo.finance/usdy](https://ondo.finance/usdy) Or if you just don't want to do any of that you can hold usdc on the coinbase wallet app and get 4.1% apy. You'll get usdc sent on chain to your wallet every month coinbase works with circle the issues of usdc. You just have to use the coinbase wallet app, hold usdc on ethereum network/base/abritum/polygon and activate the yeild. [https://x.com/CoinbaseWallet/status/1859286084535906744](https://x.com/CoinbaseWallet/status/1859286084535906744)

coinfeeds-bot

tldr; Crypto-focused neobank Infini reportedly suffered a $49.5 million hack, with stolen funds swapped to DAI and used to purchase 17,696 ETH. The breach was caused by a compromised private key, raising concerns about private key management and smart contract security. Infini's co-founder assured customers they would be compensated. The neobank, launched in 2024, links traditional banking with cryptocurrency finance and has seen rapid growth. The incident adds to a series of high-profile crypto security breaches. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

biba8163

Remember when the ETH Maxis kept created a site to show how much more Saylor would be up if he smoke mETH instead of buying BTC? The site is still there to expose their foolishness: > There is no second best - Invested: $ 30.360 billion, currently worth: $46.135 billion (52 %) - IF THEY HAD BOUGHT ETH INSTEAD, THEY WOULD NOW HAVE 11,767,438 ETH currently worth $31.941 billion (5 %) https://www.blockchaincenter.net/en/there-is-no-second-best/ What we kept on saying to mETH heads was, Saylor couldn't do this strategy with **ETH -- it doesn't have the deep global liquidity on exchanges and Over-The-Counter. ETH's a 2-cycle shitcoin with shallow liquidity:** - ETH tanked to $80 with ICOs dumping during the 2018 bear market. - ETH tanked to ~$2,300 when Binance dumped some earlier this year - A lot of ETH valued during the 2021 run was on-chain casino leverage where ETH was used locked as the native asset to mint $6.2 Billion in DAI not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. On the other hand there is deep liquidity and demand for BTC: - BTC absorbed a $2.8 BILLION dump by the German government in July 2024 - BTC absorbed another few BILLION more unloaded by Mt.Gox afterwards and climbed to $100K. If you're in crypto you might want to learn what liquidity is before you go 100% in something like ETH or worse buy low liquidity easily manipulated Alts that moon but don't have the liquidity to allow even a small fraction of investors to cash out. There is a reason why institutions, corporations and nation states invest in BTC and not shitcoins.

biba8163

Remember when the ETH Maxis kept created a site to show how much more Saylor would be up if he smoke mETH instead of buying BTC? The site is still there to expose their foolishness: > There is no second best - Invested: $ 30.360 billion, currently worth: $46.135 billion (52 %) - IF THEY HAD BOUGHT ETH INSTEAD, THEY WOULD NOW HAVE 11,767,438 ETH currently worth $31.941 billion (5 %) https://www.blockchaincenter.net/en/there-is-no-second-best/ What we kept on saying to mETH heads was, Saylor couldn't do this strategy with **ETH -- it doesn't have the deep global liquidity on exchanges and Over-The-Counter. ETH's a 2-cycle shitcoin with shallow liquidity:** - ETH tanked to $80 with ICOs dumping during the 2018 bear market. - ETH tanked to ~$2,300 when Binance dumped some earlier this year - A lot of ETH valued during the 2021 run was on-chain casino leverage where ETH was used locked as the native asset to mint $6.2 Billion in DAI not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. On the other hand there is deep liquidity and demand for BTC: - BTC absorbed a $2.8 BILLION dump by the German government in July 2024 - BTC absorbed another few BILLION more unloaded by Mt.Gox afterwards and climbed to $100K. If you're in crypto you might want to learn what liquidity is before you go 100% in something like ETH or worse buy low liquidity easily manipulated Alts that moon but don't have the liquidity to allow even a small fraction of investors to cash out. There is a reason why institutions, corporations and nation states invest in BTC and not shitcoins.

Luce55

I read this comment and think to myself, “I would love for BTC to go down, so I can buy more.” For several years now, I have been telling everyone I knew that crypto was “the future”. It still is. The biggest issue right now is that people are treating it like stocks, instead of as actual currency that will eventually, if not replace, will either dominate over current fiat currencies, or hold its value in a similar manner to precious metals and gems. If anyone of those people had taken my advice, they would be very well off right now. So my advice to anyone interested to hear it, is to hold, at least some. Sell if you want/need, and don’t look back- it is *always* the right decision to take your money/profits/cut loss when you should….*always*….but if you can keep some gas in the tank at all times, so to speak, then do so. Of course, keep in mind that some crypto/projects are better/more stable/more secure/less prone to rug pulls/have longevity et al, than others. There is no future in Fartcoin, you know what I mean? Think ahead ten years, you’re at the deli paying for a sandwich: do you *really* see the cashier saying, “That will be 10 Farts, sir/ma’am.” No. That’s never going to happen. And to fend off any trolls or others who much accuse me of FUD, I still have a billion Hera, a few million Safemoon, a few Cummies, and small amounts of a bunch of other coins that were a ticket to Nowhere or Rugpull Land. If you’ve read this far - then there’s one other thing I want to wax “philosophical” on: my first real foray into crypto was via Coinbase . They had these great tutorials on the various coins and how they functioned, and if you watched the full lesson, you’d get awarded a handful of whatever project you just learned about. This was actually really great, because the tutorials were very good at explaining exactly why *this new coin* was great and innovative. It’s why I learned how ADA, XLM, DAI, TETHER and a bunch of other projects worked and how they were different from each other and the advantages/disadvantages each had. I miss those tutorials. Now it’s much more work to learn the *basic premise* of all these new coins. Maybe I ought to start a YouTube channel to do the thing I wished was still being done 🤔 If one already exists, feel free to point me to it bc my adhd brain will neither execute an ambitious channel like that, nor will it remember to look for one later. Thanks in advance.

biba8163

Reminder that a Perfect Storm pushed ETH to ATHs in 2020/21 and only fools chase the same euphoria expecting a repeat. **Leveraged Casino Coin ETH was one of the key KPIs in its 2020/21 Pumpanomics.** Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. This leverage ETH to mint DAI pumpanomics combined with BTC parabolic moves, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money pumped ETH to $550 Billion marketcap. It was a Perfect Storm. Expecting ETH to do the same type of run is like when I warned Nano bagholders that 2017/18 top was a Perfect Storm not to expect it to happen again. > I really think Dec-Jan as the perfect storm for Nano/Raiblocks. Bitcoin had reached the peak of the bullrun and was starting to dump and people were chasing profits in every shitcoin out there with money they had just 15-20X. Also, there was constant press and news about Bitcoin high fees and slow transaction times. Suddenly you have a crypto that has zero fees and is instant. People buy it and the price only goes up because there is zero liquidity due it only being available on 2 shitty exchanges. Lack of liquidity hurts when you dump but can pump the hell out of price when there is demand.....I don't know if/when it'll take off again. But to hold a large percentage of your portfolio hoping this will suddenly boom like it did in the perfect storm scenario is foolish. https://np.reddit.com/r/CryptoCurrency/comments/c1v9or/daily_discussion_june_18_2019_gmt0/erg19v5/

biba8163

> cycle is great if you’re loaded playing with majors only...Meanwhile smaller alts are nothing but pump and dumps Not sure what chart you're looking at but ETH has been one of the worst performers this cycle, actually losing money over 1-YR when BTC has been on a bullrun | ETH | From Date | |:-----------|------------:| | 7-DAY | -6%| | 14-DAY | -16%| | 30-DAY | -14%| | 60-DAY | -33% | 90-DAY | -15% | YTD | -22%| | | 1-YR | -1.7%| | ATH | -47%| > Compared to 2020/21 which was up only for over a year post Covid crash, most def thanks to normies gambling online. You seem to be missing the fact of **how much of a leveraged casino coin ETH was that drove its rise in 2020/21.** Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH in 2020/21.

biba8163

Right, BTC parabolic moves, leveraged native ETH to mint DAI, DeFi casino narrative, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money It was a perfect storm. I also reminding NANO bagholders that 2017/18 top was a perfect storm back in 2019 and people have been losing money for 7 years expecting it to happen again. > I really think Dec-Jan as the perfect storm for Nano/Raiblocks. Bitcoin had reached the peak of the bullrun and was starting to dump and people were chasing profits in every shitcoin out there with money they had just 15-20X. Also, there was constant press and news about Bitcoin high fees and slow transaction times. Suddenly you have a crypto that has zero fees and is instant. People buy it and the price only goes up because there is zero liquidity due it only being available on 2 shitty exchanges. Lack of liquidity hurts when you dump but can pump the hell out of price when there is demand.....I don't know if/when it'll take off again. But to hold a large percentage of your portfolio hoping this will suddenly boom like it did in the perfect storm scenario is foolish. https://np.reddit.com/r/CryptoCurrency/comments/c1v9or/daily_discussion_june_18_2019_gmt0/erg19v5/

biba8163

I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria. One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI.

deviantgoober

Contrary to most people's beliefs, stable coins would also generate a taxable event although the amount may be small and negligible depending on how much you hold. Most stable coins fluctuate slightly past a few decimal points so if you are holding tens to hundreds of thousands, you might see a small gain or loss on the sale of a stable coin like USDC (it would be worse for something like DAI that fluctuates a bit more). So in both cases, selling BTC or selling USDC or other stable coin would be taxable. At least in the US.

Hopeful_Ad_9873

Hi, hope you're having a good weekend. Do you know any good platform to create a payment link, so a third party pays via credit card (fiat) and I receive crypto (USDt, USDC, DAI or any other stable)? Please tag me on your reply. Thanks in advance.

Proj3ctPurp1e

Isn't DAI more than ready to take over as the dominant stable by this point? I know obviously Tether has the best PR, but we should be able to start the ball rolling.

Life_Ad_2756

In the case of uncollateralized loans, while no specific physical asset may be pledged as collateral, the money issued is still tied to an obligation that is enforceable through the borrower’s future earnings or assets. In essence, the loan is still linked to the borrower’s ability to pay it back with real-world value, such as income, labor, or property. Cryptocurrencies, on the other hand, like USDS/DAI or any other stablecoin, are not backed by any real-world obligation or real-world asset. When USDS/DAI are minted, they are created digitally within a closed system and are essentially a representation of debt within that system. But they still don’t anchor to anything external like houses, land, or tangible goods. This means that, while there might be a promise of repayment, there’s no actual collateral or tangible asset that’s tied to the creation of those tokens. In other words, they still lack a reference point in the real world for comparison with goods and services. The rest is irrelevant to the core issue. The concept of money pre-dating banking doesn’t negate the requirement that, for something to function as money, it must have an external reference point that connects it to real goods, services, or assets. Historically, money (whether it was metal coins, shells, or other early forms) was often tied to physical assets, such as precious metals or land. Even if it wasn’t issued by a formal bank, it still had an external reference point - gold, silver, or something tangible. These early forms of money were still able to act as a unit of account, a store of value, and a medium of exchange because they had something in the real world they could be compared against, like a piece of land or goods in trade. Cryptocurrencies, however, fail this test. Whether or not money existed in the form we understand today prior to 1688 or the advent of banking is beside the point. The key feature of money has always been that it connects to something real, something outside the currency itself. Cryptocurrencies, even stablecoins like USDS or DAI, fail this test because they only exist within a closed digital system with no direct connection to physical goods or real-world assets. They don't serve as a unit that compares to a house, car, or any other real-world commodity. The goalposts aren’t moving - they’ve been the same all along: for something to function as money, it must have a reference point in the real world, and cryptocurrencies do not meet that criterion.

Life_Ad_2756

While it’s true that platforms like Aave and the issuance of stablecoins like GHO or USDS (formerly DAI) can create new units tied to loans, this still doesn't address the key issue: lack of an external reference point. Here’s why: In a traditional bank system, when a loan is issued, the creation of fiat currency is backed by something real: assets like land, buildings, or productive resources. These assets act as collateral, and if the loan defaults, the physical property is liquidated, removing currency from circulation. This creates an external anchor that allows fiat currency to have a reference point - something tangible or meaningful in the real world. Now, consider GHO or USDS: these are digital tokens, and while they may be minted as part of a loan, they do not establish a meaningful connection to any real-world assets or goods. The creation of these tokens doesn’t "anchor" them to anything tangible in the way that fiat money is tied to real-world property, land, or debt backed by actual goods or services. These stablecoins are merely digital representations of value within a closed system. When they are destroyed upon repayment, the only thing that changes is the digital ledger; no real-world property or collateral is being "redeemed" or taken out of circulation in any physical sense. To put it simply: creating GHO or USDS as part of a loan system doesn’t make them money in the traditional sense because it doesn’t connect them to real-world, tangible assets. Just like how Monopoly bills can be created and destroyed within the confines of a game without any reference to real-world value, the minting and burning of these stablecoins doesn’t anchor them to anything outside their own system. They remain digital markers in a closed-loop system, not money that can be used to measure or purchase real goods or services. The key difference between cryptocurrency systems like this and real-world money is that cryptocurrency doesn’t have a clear, external reference point to measure its value against, unlike fiat, which is tethered to real-world collateral.

StatisticalMan

>Let's me educate you. In a real-world loan system, when a bank issues a loan, it creates new fiat currency units that enter circulation. This exists in aave as well. GHO (a USD based stable coin) can be minted into existance as part of a loan. When the loan is repaid it is destroyed. Similar system exists for USDS (formerly called DAI). So thank you for proving cryptocurrencies are money (by your asinine definition).

MichaelAischmann

Study DAI regarding issuance & redemption. Saving code on a decentralized ledger & using that code is a purpose outside market exchange, one of many.

conceiv3d-in-lib3rty

Yeah but that’s not just USDT, it’s DAI, PYUSD, WBTC, and more. And it’s just in Europe.

coinfeeds-bot

tldr; The Ethereum Foundation (EF) has sold another 100 Ethereum (ETH) for 307,893 DAI, marking its third sale in 2025, raising concerns about ETH's price performance. Despite this, the EF still holds 269,175 ETH, valued at over $800 million. While the sales have pressured ETH's price, analysts like CoinMamba and Crypto Rover remain optimistic, citing historical trends and technical patterns suggesting potential price increases in the coming months. ETH is currently trading at $3,125, down 5.7% in the last 24 hours. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

MichaelAischmann

That's fair. I'm just an advocate for decentralization To that extent DAI is appealing for my short term needs.

Tasty-Ad1124

DAI is a solid choice due to its decentralization and strong governance model.

MichaelAischmann

Hm... Then let's not FUD around, right? Recently the Ethereum foundation sold some ETH for DAI. That instilled confidence & made me research DAI.

_TheWolfOfWalmart_

I don't fully trust any of them. I think spreading your stable funds across USDT, USDC and DAI for long term storage is a good move.

MichaelAischmann

What's DAI's weakness in your opinion?

MichaelAischmann

DAI is issued by MakerDAO via smart contracts. DAI is over-collateralized with accepted crypto assets. This means the reserves aren't as questionable as with Tether for example.

MichaelAischmann

Which stablecoin do you trust the most & why? I'm kinda drawn towards DAI because it is decentralized.

CryptoNerdSmacker

Other stablecoins haven’t been baptized by regulatory fire like Ripple Labs and their stablecoin have. RLUSD will probably, over time, take over a large portion of stablecoin volume from USDT, USDC, DAI, etc.

conceiv3d-in-lib3rty

There’s already been blood in the street though. They survived the collapse of Genesis, Terra Luna, FTX and a sharp 70%+ decline of Bitcoin in less than 6 months that lasted 2 years and had zero issues with redemptions. I’ve always avoided positioning with USDT unless it was absolutely necessary, opting to use USDC, DAI and now eUSD whenever possible. It doesn’t even matter at this point though because if Tether goes down, it’s going to cause an all out market crash worse than ever seen before x10. Tether’s mcap is higher than most multinational banks, they hold more US Treasuries than most countries. I wouldn’t even be surprised if there was talk of some type of bailout situation if it were to happen just for the sheer fact of how devastating it would be. I’m not saying it can *never* happen, i’m just saying it doesn’t make much sense to me to worry about it at this point.

coinfeeds-bot

tldr; Coinbase will restrict European users from trading certain stablecoins, including Tether (USDT), starting December 13, to comply with the Markets in Crypto-Assets (MiCA) regulatory framework. Other stablecoins like PAX, PYUSD, GUSD, GYEN, and DAI will also be delisted for being MiCA noncompliant. However, Coinbase will continue to support Circle's USDC and EURC, as Circle has secured a European stablecoin license under MiCA laws. Tether has not publicly responded to the delisting, and its future in Europe remains uncertain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

ToulouseDM

They’ve been around for a long time. They created DAI, which isn’t as popular anymore, but was once a commonly used decentralized stable coin. Back in 2018 you could use a DEX…if you dared then, most were afraid for no legitimate reason…now everyone acts like they’re DEX experts because they can click a few buttons any toddler can do, but back in 2018 it took some actual “know how” to trade on a DEX, and DAI was your stable coin.

advias

USDS IMO, the new DAI token and is regulation secure (To my knowledge)

Altruistic-Bed-7785

If you're looking to park euros in crypto for a few years, stablecoins are a good option. Here are some top choices: 1. **USDC** – Reliable, transparent, and widely used, pegged to the US dollar. 2. **DAI** – Decentralized, pegged to the US dollar, backed by crypto collateral. 3. **EURT** – Euro-pegged stablecoin, if you prefer staying closer to the euro. 4. **TrueEUR** – Another euro-pegged option. For simplicity and stability, **USDC** is a solid choice. If you want to stay with euros, **EURT** or **TrueEUR** are good options.

coinfeeds-bot

tldr; The Ethereum Foundation recently sold 100 ETH for 37.43K DAI at a rate of $3,743 per ETH. This is part of a series of transactions this year, totaling 4,366 ETH sold and generating approximately $12.2 million. These sales highlight the Foundation's strategic asset management in response to the volatile crypto market, ensuring liquidity and relevance in the digital economy. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Zeeder80

Invest $100K with a diversified strategy: 50-60% in Bitcoin (BTC) as a store of value, 20-30% in Ethereum (ETH) for exposure to smart contracts and DeFi. Allocate 10-20% to high-risk altcoins (e.g., Solana, Polkadot) for growth potential. Consider 5-10% in stablecoins (USDC, DAI) for liquidity and yield farming opportunities. Regularly rebalance your portfolio based on market cycles, and use stop-loss orders to manage downside risk. Be prepared for high volatility and adjust your positions accordingly.

Bond000

What's been happening in crypto since like 2-3 years ago? This was around the time of BSC being massive and all the new altcoins being on the BSC chain. I parked all my cash in DAI and haven't really touched crypto since. I know that memecoins became a thing and solana popped off, but that's the extent of it. What's the "big thing" right now for moonshot investing? Can I get a quick timeline?

TheJustinG2002

Got a hefty amount of “fiat” in my CEX account that’s waaay too much for my comfort, so I’m looking for a stablecoin to transfer to Ledger and wait until the next bear market. What do you guys recommend? Should I stick to USDC? I hear people say DAI is better but that I’m not so sure. Any insight would be appreciated!

jawni

like... who cares at this point? We have Tether, we have USDC, we have USDS (formerly DAI), we have PYUSD, we have Visa doing billions of dollars in stablecoin settlements already. And it's on a network that doesn't even have smart contracts... [we've seen what happens when stablecoins don't have defi.](https://www.coindesk.com/business/2023/08/17/tether-stops-support-for-bitcoin-layer-omni-citing-lack-of-demand) I'd hope demand here would be higher, but I imagine it being much lower relative to any other option.

pulse_cg

Pulsechain is a booming fairly new Blockchain that is more than likely going to delay pump as ETH rises. It's a complete copy of the ETH system with a few upgrades, mainly in regards to gas fees and transaction times. There is also a huge narrative taking place right now that it's copy of DAI also known as pDAI is going to peg to the dollar... It's current price is currently around 2c , so 50x off hitting the peg. The core coins (PLS, PLSX, INC) have no price ceiling is though. Chances are profits made on the pDAI peggening will rotate in to core coins. Also the origin address has investment in ETH and is making $170,000 for every $1 the ETH price increases. TL;DR Fucking eyewatering gains are coming in Q1-Q3 2025.... we are still early

MinimalGravitas

Honestly, the market is at all-time highs at the moment, so it might not be the best time to buy most coins, so stablecoins like DAI etc probably aren't a bad idea. It's worth remembering that you don't actually need to buy anything to learn. A good place to start is: https://app.banklessacademy.com/lessons Completely free and it will teach you the basics of how crypto works, how wallets work, how to keep your assets safe, and loads of other stuff. You can set up wallets for free, connect them to testnets and try out things like transferring tokens, recovering seed phrases etc. None of that will make you any money, but it will give you some knowledge to help avoid losing money in the future. Once the market goes down again, maybe in a couple of years, you will know exactly how to use crypto and will have saved up a stash of stablecoins. Everyone here will be moaning about how the coins they bought for $4,000 are only worth $800, and you will be happy to buy them for an 80% discount!

IlIlllIIllllIIlI

Tether can work, USDC too. DAI has proven to be reliable. It’s smart to keep it in a crypto stable as some countries do not consider it a fiscal event. If you don’t feel safe with those, go for fiat and pay your taxes. Always remember to pay your taxes, this is no joke.

LaminatedFeathers

Someone commented in another thread that DAI doesn't constitue as a stable coin. So is there something you can do with that? Not sure of American tax laws - where I am, there is no capital gains tax.

sumshelf

None, I prefer diversifying. However, if all my money were in crypto, probably half would be in BTC, and the other half in ETH and DAI.

jawni

launch of Hyperliquid, the brief resurgence of NFTs and what will possibly be the the biggest NFT marketplace airdrop from Magic Eden, the rise of AI agents in crypto, Maker rebranding to Sky and DAI rebranding to USDS and their launch on Solana, Messari recently released all of it's Q3 reports, Eigenlayer and Ethena, and Warpcast were three of the biggest new protocols on ETH and never got talked about here, DeSCI narrative started to get hot with the launch of pump.science . just a few ideas

Graveslinky

I didn't buy because no one told me about it. I wish I grew up with better people around me. Oh well, I guess having to hold DAI in 30% supply vaults and liquidity pools will help me get 1 bitcoin one day.

uncapchad

"Starting **December 13, 2024**, Coinbase will restrict services for **USDT, PAX, PYUSD, GUSD, GYEN, and DAI** for retail customers in Europe under MiCA regulations. Affected users can: 1. Sell or convert these assets to USDC or EURC (which are MiCA-compliant). 2. Transfer the restricted stablecoins to self-custody wallets before the deadline. After this date, trading, custody, and receiving these assets on Coinbase will be unavailable. The platform may reintroduce services for compliant stablecoins in the future." So you either sell those coins before the deadline or take them into self-custody before the deadline

Federal-Anything5312

Mostly Aave and compound v3. Currently I farm rewards on USDS (the new version of DAI) which pays 14% APR in SKY tokens rn (I just sell them for more stables). I also have some in crypto com app earn for 15% in their 3 month lock, but would only put what you can afford to lose there since its a centralized thing, could pull a celsius. The max is only 500k and its convenient to use the weekly interest to top up my card. But in general I just try to find good enough farms in defi protocols, The rates are high during bull markets like right now but can be a lot lower in boring markets. I have been doing this for over 5 years so I think I have a feel for the safety of protocols and can write bots that handle emergency withdraws if there is any trouble, but only needed to do this once in those years.

KIG45

DCA in, DCA out (no selling of Bitcoin) and holding profits in stablecoins (USDC and DAI) until the next bear market. Buy as much Btc as possible and start adding back Eth, ADA, DOGE, XLM and all the value projects that have made you money and have proven to perform well again in the next uptrend. Plus a few new projects that you have already studied how they are performing this cycle. That is what I will do.

Capital-Physics4042

It's kind of a tautology isn't it? If ADA surpasses $1, it would be above USDC. You can even throw in there list USDT, DAI, and its very own DJED

IlllIlIIlIlII

All the Tether fudders are either new or delusional, the FUD worked for me the first time in fucking 2018, but in 2k24 I'd believe more that DAI or USDC collapses first, and DAI actually depegged for a bit.

coinfeeds-bot

tldr; Sky's USDS stablecoin, formerly known as DAI, has expanded beyond the Ethereum blockchain to deploy on Solana. This move marks USDS's transition to a multi-chain presence, aiming to leverage Solana's fast processing speeds and low transaction costs. Sky has partnered with Solana-based DeFi platforms like Jupiter, Orca, Kamino, and Drift, offering over 300,000 USDS in weekly liquidity incentives to boost adoption. USDS is the third-largest stablecoin by market cap, following Tether's USDT and Circle's USDC. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

pm4tt_

DCA out to USDC/DAI seems solid to me

KIG45

What about DAI?

tianavitoli

DAI long and strong!

coinfeeds-bot

tldr; The Ethereum Foundation sold 100 ETH for 334,315.7 DAI on November 12, marking its first ETH sale since releasing its 2024 annual report on November 8. This transaction follows a previous sale of 100 ETH for 270,800 DAI on October 30. The Foundation's 2024 report shows $970.2 million in asset reserves, with $788.7 million in crypto, mostly in ETH. The Foundation periodically sells ETH to fund public projects and maintain reserves, having sold 4,266 ETH worth $11.83 million since the start of 2024. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

HuntingEvil92

I would buy hex at 1 cent and sell at 5-10 cents atleast if you want quick sure gain but its going to $1.. and also pdai which is DAI stablecoin on Pulsechain is going to $1 as well. Look for it on gopulse. Its so obvious it will print millionaires over night. Not financial advice DYOR. But i would be buying if i had 75k sitting around

kirtash93

Jokes aside, when I got into crypto and got some free DAI I was expecting to go up xD I was a noob.

advias

Oops, I meant for stables. Using Bitcoin, Ethereum, or anything asset that moves in price is just not practical for everyday spending. I really want to pay using a mobile wallet with USDC/DAI/USDS/etc. Once this happens is when we are able to transition fully onchain. A good argument of why this isn't a thing yet I came across from Circle (USDC) is due to privacy concerns. Businesses don't want to have their wallets and balances shown to the world wide web.

HoldCtrlW

Tether, USDC, DAI, FRAX, TUSD

0xBlockBard

Glad to help! You can also consider using Ethereum on other chains like Arbitrum and Base which have very low fees. Yep, for exposure to the dollar, getting a mix of USDT, USDC, and DAI would probably be one of the safest ways out there.

KryptoChic

Past experience has shown to do the reverse of what this sub recommends. It typically works out better although I admit not always. We all remember in March of 2023 when USDC and DAI depeged down to 0.85 USA dollars while USDT remained rock solid at 1.0 USA dollars.

KryptoChic

In March 2023 both USDC and DAI depeged to about 0.85 USA dollars. Tether remained rock solid at near 1.0 USA dollars with no depeg during the same period. I'll take Tether any day over USDC and DAI.

KIG45

Why did you choose USDT? I think USDC and DAI are better choices. Tether is shady and I don't trust them.

0xBlockBard

Sure, will offer my 2 cents: 1. Where to buy Tether - I think this will depend on where you come from since the KYC compliance on exchanges may vary widely. If you already have an account verified on a main CEX (Kraken, Coinbase etc), then I'd suggest you use it to buy Tether since they would almost certainly have a withdrawal function to your personal wallet. If you already have crypto on some blockchains like Solana, Base, Eth etc, then you can simply go to a DEX and get some USDT before transferring it to your personal wallet 2. Best wallet options for USDT - For hot wallets, just stick to metamask since it works on most chains. For cold wallets, you can use Ledger to hold Tether (and lots of other cryptos like BTC too) 3. Choosing the blockchain for USDT - Any chain besides Ethereum should work, since the gas fees for Eth would be significantly higher. Tron is one of the most widely used for USDT too. Convenience depends on which chain you interact with most, e.g. if you trade actively on Polygon or Base, then it'll be better to have USDT on those chains too. Note of caution, when depositing to CEXes, always make sure you have a valid address on the network you want to transfer to (e.g. do not transfer your Polygon USDT to an Arbitrum USDT deposit address on Kraken) to reduce the risks of losing funds. 4. Misc thoughts: you might also want to consider having a mix of stablecoins in your portfolio, like USDT, USDC, and DAI to hedge your risks in case one implodes (since you can never be too sure in crypto).

coinfeeds-bot

tldr; The stablecoin market is poised for significant growth, with USDaf emerging as a promising contender. Stablecoins like USDC, USDT, DAI, and Ethena each have unique advantages but face limitations such as centralization, complexity, and off-chain risks. USDaf aims to address these issues by offering a decentralized, user-friendly stablecoin with high yield potential. It combines a refined CDP model, ease of use, and decentralized governance, making it accessible and appealing to a broader audience. As demand for stable, inflation-resistant assets grows, USDaf could set a new standard in the stablecoin market. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

IlllIlIIlIlII

Tether was sketchy only according to redditors, so much praise DAI got here and it was DAI that depegged, Tether will outlast all the stables.

IlllIlIIlIlII

Lmao the Tether FUD is a total bullshit, I love that DAI was shilled on reddit and instead of Tether the DAI temporary collapsed, Tether will outlive all of the stables.

usercos187

that's why i ended up using solana network / swaps. DAI is also available on solana...

MinimalGravitas

What...? I don't hold any Maker, but I've used DAI for about 7 years. You said you'd never heard of one of the most fundamental dApps on Ethereum and so I was trying to help you learn something. I guess you have no interest in that, which begs the question of why you commented about not having heard of it? I don't hold any AAVE or UNI either, but again, they are some of the biggest and most used projects in the space, so are worth understanding.

MinimalGravitas

> Never even heard of this coin That's kinda wild. Maker is one of the original DeFi platforms. They produce the first and largest decentralized stablecoin (DAI) [ https://etherscan.io/token/0x6b175474e89094c44da98b954eedeac495271d0f ]. Their project has a Total Value Locked of about $6 billion [ https://defillama.com/protocol/maker#information ] (bigger than Uniswap) and their DAO controls a treasury of almost $300 million [ https://deepdao.io/organization/c41f87df-35a6-4a37-82c4-62cd5a3a8c08/organization_data/finance ].

No-City94

Where should I keep my fund between cycle ? I plan to DCA out when I think BTC hit the peak of this cycle. Not to cash out. but to wait to re-entry via DCA in again when it's low enough. ( I know , don't time the market. But I want to try. I want to increase my BTC.) I still don't know how to keep my fund while waiting ? USDT ? USDC ? DAI ? PAXG ? I really don't know and have some concern about all these stable coins.

Opening_Mood_5111

Any tax above 10% is a ripoff. I live in a country with a 10% profit tax(+a low fixed tax) so I don't need to do this, but if I were in your case, I would just take the profits on the blockchain(DAI/USDT/USDC) and use direct in person cash p2p no kyc marketplaces when I need(you'll get around 5% lower value). You only need to make sure the buyer is legit(only use the ones that have 100+ reviews and volumes)

ShinAlastor

DAI is a stable coin.

yioshie

I'm also in Italy, there are some options: 1. Don't sell, just use your crypto as collateral for liquidity, Nexo is a great platform for that. 2. You exchange your BTC for DAI or PAXG, both are not stable coins and thus they aren't a cash out event so it's not taxable. 3. Just hodl until you decide to move out. I personally will do the 3rd until I move to Switzerland.

kirtash93

Same here but funny thing is that I started with DAI thanks to Coinbase rewards. Then also used UST but avoided the crash and now after MiCA, using EURC after long time using USDT and USDC.

GaussAF

I'm a big fan of DAI I wonder if there's a way to create a pile of USDT and trade an unfreezable wUSDT representation of it without the backing asset being easily subject to freezes... 🤔

usercos187

when Donald Trump says that he is against a CBDC. guess what are the attributes of a CBDC ? - is emitted by a centralized entity - can be traced - can be frozen depending on arbitrary rules - can be seized now take a look at what USDC, USDT, USDP, are and do, and you can see very similar attributes to a CBDC... if you are against that, support DAI, use DAI (on ethereum network, on smartchain network, on base network, on solana network, on avalanche network ) ( no DAI on tron network, unfortunately... )

usercos187

true, USDP also DAI can't be frozen or seized, but because of regulatory pressure this may change on the future, we will see... 👀

Guilty_Fisherman5168

Guess this might effect DAI?