please hold stablecoins also. It’s much easier, there’s at least 5 extremely major, backed, openly-audited and safe alternatives to diversify any crypto among.
You can even use ETH DEXes like kyber.swap (my favourite) if you don’t trust any exchanges.
Please don’t let MaidSafe lose any more value, price is still dying since the madness of last year. Still has a long way to go down.
We all want MaidSafe to have what it needs to launch asap
Why would that be better than holding also just dollars though? It seems many (all?) are pegged to a dollar, so I have never understood why you would hold them instead of just the plain fiat. We hold dollars sterling and INR etc. in fiat and btc and maidsafecoins.
Just out of interest
there will be no tax, no bank failure risk.
Yes, there will, unfortunately. There is always tax.
This part I agree with though 
Although there is a balance with these coins, how well audited they are, how much we can trust the companies behind them etc. It feels like they are different to BTC in that they all seem to require trust very much like a bank, but not regulated like one. So potentially it´s the rock/hard place to an extent. As I say though, I am not familiar enough with all of them so happy to know more.
One thing they may do is reduce the forex risk, but again I am not sure they will.
Actually I am developing decentralized stable coin on decentralized exchange on some blockchain. If there will be DEX on safenetwork, I will issue it on safenet too for sure. ah, counter party risk will be transparent. that’s the point.
Is it? With tether you are actually holding (hopefully) usd at the Deltec bank in the Bahama’s. That bank can fail as well
If you declared your transactions there would be tax. What you are suggesting is that because there is no central authority on a DEX you can perform transactions without incurring tax. Which is naive because at the point you cash into FIAT, you need to be able to explain your wealth.
If you can live off bitcoin, I suppose you could avoid tax, but thats going to be incredibly difficult until your local supermarkets accept crypto directly as payment.
I disagree sooner or later you do not need fiat you can buy goods with safecoins on the safenetwork. If it is mass adopted it will be hard to punish everyone who does not pay income tax and so on because it will never touch the real world 
I think the safenetwork will turn our financial system upside down…
Thats very short sighted, without tax, there would be no NHS here in the UK. Who wants to live in a world where you have a car accident, and nobody comes to your aid. Those safecoins are now worthless to you.
I totally agree with you. I didn’t eveluat it, I determined it.
little tax is good for economy. no? 
debatable. anyway, I would say decentralized stable coin will be transparent about counter party risk. Counter party risk is serious issue, cough! Deutsche bank!
You could pay someone to do that, eg. through an insurance.
What kind of madness is this? The very definition of a stablecoin is that it’s backed by somebody who’s willing to 1:1 exchange it to fiat. If that entity fails, your stablecoin is done.
sure. just as the invisible hand regulates everything by itself and rich people are forced by the system to share their capital with the poorest.
If you’re interested in stablecoins, how they work and what the risks are I did a write up earlier this year you may like: http://oscarpacey.com/stablecoins/
just much easier to go back and forth, on a purely technical level. No wire fees, etc. Would be the fastest way to transact if you are planning for crypto to go from say $4k - $1/$2k range.
Of course if you have an easy way to go back and forth into fiat that’s ideal, but that’s not the reality for everyone.
Just anything to avoid holding too much crazy BTC these days. It’s so horrible 
On a philosophical level I hold fiat backed stablecoins in low regard. Another abstraction on debt based money tied into a growth and debt issuance cycle that is just insane.
Putting that aside, the ones that are backed 1:1 by fiat funds held in a treasury bank account and redeemable for the underlying asset (fiat) will serve an immediate market need, more so in crypto exchange contexts. Paying for crypto at a broker or exchange with fiat from a bank account has slow (perceived) turn around time. In Australia, even with the “New Payments Platform” there are delays. People want to take action on price movements and arbitrage, fast. Even more so for programmatic/algorithmic trading. Stablecoins will offer crypto/fiat pairings and trading between with much lower friction.
If you are wanting to hold some of your capital in a token that is “stable” (relative to and collateralised with fiat), and quickly trade it for other cryptoassets on centralised or decentralised exchanges it does make sense.
I’ve led some of the work for an AUD backed stablecoin at btrade.io which is planned for release early next year. Some of the benefits are there really because the fiat banking infrastructure is just so slow and archaic.
There is definitely demand. Be that from bit traders and remittance providers all the way through to dAPP projects and neo banks. Challenges are there also. Traditional banking relationships, slower moving API based banking, privacy issues, key management, financial censorship and surveillance, and then transparency to the public on verifiable treasury audits just to reference a few. This is just the fiat-collateralised stablecoins with funds held in a treasury bank account. Then there is the whole other world of crypto-collateralised and non-collateralised stablecoins that is interesting to watch evolve as well.
it’s in the interests of the rich to support the poor, as the poor could destabilize the system (there’s nothing to loose for them) and thus threaten the wealth of the rich.
It’s funny that the collective value in this dollar dream (stablecoins) is over $2B, but what happens to this experiment/inception, when the dollar fails? 
If that’s something that unimaginable… 
Luckily for us Maidsafe still got a minimum of 1M gold ounces in publicId’s that they can sell, when all goes…
1.) what about USDVault? 1:1 backed by gold.
2.) also fully collateralized, and transparently audited as per -