There's obviously a huge demand for something like Tether, so why doesn't anyone make a legit, regulated...

jibrel.network/

>How does Jibrel Network protect me from cryptocurrency volatility?
>Jibrel provides stable coins representing real world value on the Ethereum blockchain. Using the Jibrel Decentral Bank (Jibrel DAO), you can exchange volatile ETH, BTC or other cryptocurrencies for stable tokens like jUSD, jEUR, jGBP, jKRW and others.

>These stable tokens can be exchanged for the underlying value at any point in the future, regardless of the price of ETH or BTC at the time.

Any questions?

Ok, I didn't know they had those tokens.
The team looks like a bunch of sandniggers and Russians, but whatever. If they'll be regulated properly in 1st world countries it's fine I guess.
I also don't like how they answer this
>Why is a dedicated token needed as opposed to ETH or BTC?
>Given the extreme volatility of ETH and BTC, it would be difficult to hold liabilities in fiat currency (CryDRs) while holding volatile and uncorrelated crypto-assets. Using JNT, a closed system is established allowing for the system to self-balance.

JNT is also volatile.

Is this it? Anyone else doing fiat pairs?

>Anyone else doing fiat pairs?
I mean fiat-tethered coins.

Isn't there a Yen one coming out in a couple of months?

You don't need to have anything to do with JNT to purchase the tokenized assets. That's what JNT shills have been trying to explain. I'm a bit of a brainlet, and a haven't read as much as other anons, just trust us and look into it a bit more. It's literally answering everything you're concerned about.

legit, regulated, audited alternative

No, you really don't want that if you think about it

Why not? At worst it will be slightly more expensive, but regulation and consumer protection is already something we'll have to deal with in the future anyway.

Meanwhile, Tether/Bitfinex could go to shit tomorrow, take all your gains and nobody would even go to jail because they operate from some sketchy 3rd world countries and can't even do business legally with US customers.

Just bought 100K

Is this a subtle Jibrel shilling thread?

You mean jcash from JNT?

NUBITS YOU STUPID FUCKING PIECE OF SHIT FAGGOT ASSHOLE CUNT

Guys seriously... as soon as someone does this in a legit way in a western country the money printers backed by their gov stoolies will come down HARD on the poor souls trying this.

It will be labeled as counterfeiting. Being allowed to manage/print a nations' currency is one of the greatest sources of power in the world. And will be defended as such by those holding this power.

Why would you look after that much USD for no profit? There needs to be a profit incentive and there just isn't one.

Plus you'll likely get fucked over by the US gov.

JNT is a fucking scam and you know it, stop trying to shill it you useless faggots

>Plus you'll likely get fucked over by the US gov.
how did tether get away with it then?

This, sorta.

That's what happened. Wells Fargo froze all Bitfinex/Tether's wires from/to the US. And now no banks want to work with them, because they'll get their US wires frozen too.

So now Bitfinex/Tether uses loopholes like using dummy companies, high net-worth individuals, offshore accounts, etc. just to stay banked.

Pic related.

isn't that basically fraud or do the loopholes keep it perfectly legal?

lol tether and bfx is about to get buttfucked so hard. i bet theyre insolvent

...

Because to produce an audited legitimate tether would require reserves to the tune of $2.2B
Who on earth would plough that amount of money into a fake dollar?

Technically, Bitfinex/Tether didn't do anything illegal to get their wires frozen.
Wells Fargo made the decision as a privately-owned entity to block them, not because of US government pressure.
They even threatened to sue Wells Fargo.

This happened back in March iirc, you can google the details.

there will be one on the neo network *Alchemint*