I fucking knew it
no arguments, the typical "DYOR" BS
listen, I know what the arguments for JNT's existance are, I know the purpose it serves officially, what I'm saying is this entire "purpose" is pure BS, made up story to be able to collect money from the ico.
Imagine something like Tether but with proper audits, full trust.
You buy it either with FIAT or BTC/eth, the company holds fiat and converts that btc/eth immediately to FIAT to have proper backing and meet every audit (or even accept FIAT only if sudden btc/eth/whatever crash could cause a problem)
And when you want to sell it they redeem it for FIAT or you sell it for other coins if there are available pairs. You have your own choice.
See? perfect system, no middleware token needed.
Let's say I hold jcash, and I want to cash out because I need real money, why would I need some stupid JNT token, then convert that shit to btc, then btc to FIAT, then wire a transfer? just give me straight up fiat
another scenario
Lets assume I hold jcash but feel like a bullrun will soon start, why would I want go to back to other coins through JNT? just create a jusd/jeur-btc pair on your or other official exchange and problem solved/
Tether doesn't have its own onchain solvency, doesn't have some middleware token and DESPITE the uncertainty about proper offchain backing it works perfectly fine, now imagine how much more would a stable coin be used if it worked exaclty like that but with full confidence from the community about the audists
ON CHAIN SOLVENCY is not only a meme, it was a pure cash grab at the ico
And it's coming from someone who bought into jibrel ico, because I knew there would be greater fools after me, I also have some money tied up in other stable coins ith similar system, I know they will go to the trash sooner or later but it's a good flip on gullible idiots
Prove me wrong FAGGOTS.