Arthur Hayes, founder of BitMEX, said that a centralized Bitcoin based stable currency NUSD should be created

According to the news on March 9, Arthur Hayes, founder of BitMEX, wrote an article to express his views on the stable currency of the encryption industry. In the article, he believed that there was no need for the super-mortgage stable currency such as MakerDAO and the algorithmic stable currency such as TerraUSD. The former was inefficient, while the latter was risky. The real reason why the market tended to store stable currency was that traders were allowed to trade between legal tender and cryptocurrency, so whether the stable currency was centralized or not was not important.

Interpretation of this information:

Arthur Hayes, the founder of BitMEX, has shared his analysis of the stable currency in the cryptocurrency industry in an article written on March 9th. He explains that the need for the super-mortgage stable currency and the algorithmic stable currency is unnecessary. His reasoning for this is that the super-mortgage stable currency is ineffective, while the latter is too dangerous. Instead, he believes that the market’s preference for storing stable currency is due to the ability to exchange legal tender and cryptocurrency. This means that whether the stable currency is centralized or not is insignificant.

Hayes’s view on super-mortgage stability currency is that it is an ineffective measure. He points out that this method is overly complex and involves a high degree of collateralization. Additionally, the process of liquidation is unnecessarily time-consuming, which disrupts the market, making it troublesome for investors.

As for the algorithmic stability currency, Hayes deems this cryptocurrency to be risky. Although its concept is unique, principles come with risks, considering how it is determined by complex algorithms. Therefore, the price and liquidity of the currency may fluctuate due to factors that are out of the investors’ control, making it unstable.

The reason that traders prefer to store stable currency, Hayes suggests, is the ability to exchange between legal tender and cryptocurrency. The use of centralization is not the most significant factor to traders. The essential function of stable currency is to provide a secure bridge between fiat currency and cryptocurrency. This would result in traders being able to operate in both markets smoothly.

In conclusion, from Arthur Hayes’s perspective, the need for super-mortgage and algorithmic stable currency is insignificant. Stable currency is popular amongst traders as it provides them with the ability to trade with legal tender and cryptocurrency without any issues. Whether the stable currency is centralized or not is trivial to traders, so long as it fulfills its primary function.