Maker Coin Saves the Day
If collateral currency prices crash, new Maker coins are issued, and these are sold to make up the difference. In this case the Maker coin price goes down, because there are more Maker MKR coins in circulation. However, if the collateral currency prices stay the same or go up, Maker coins aren't needed much at all. Maker MKR coins are then destroyed, raising the price of investors' MKR. By a lot!
There are only around 600,000 MKR in circulation. That's absolutely tiny for cryptocurrency. Bitcoin has a relatively small supply at 17 million, and Maker coins represent only about 3.5% of that value! As Maker has become more used, this has driven the price of individual MKR coins up and up and up, with no sign of stopping. The coins only lost value recently because the crypto market crashed, and yet they are still expensive at $700+.
The whole Maker system is based on the expectation that cryptocurrency is going to thrive in the future. In this case, Maker won't have to bail out the DAI collateral. Instead, MKR owners will be getting rich, and enjoying the right to use their MKR holdings for voting power in the Maker community.
There's a lot more to learn about Maker coin MKR, DAI coin, and the Maker system at large. You're free to dig into the Maker whitepaper
and online communities for more details. It's a deep rabbit hole.
Who is the Team Behind Maker MKR?
Maker is not governed by any central foundation, as Bitcoin and Ethereum (sort of) are. Instead, there is a decentralized group of Maker enthusiasts and developers, the best of whom have become known in the community and have made themselves de facto
leaders of Maker. These are people like Kenny Rowe, who devote the better part of their waking hours to the development and marketing of the Maker system. You can get a sense of the power of Maker's grassrroots approach by checking out Kenny Rowe's Youtube channel, one video of which is seen below.
It may seem like a copout to write a Maker MKR review without staff pictures and bios, but Maker is not a company. It is very nearly a real Decentralized Autonomous Organization (DAO), and even though it has developers, a governing body, voters, and holders, no one owns it, and there is no central leader. What a time to be alive.
Why and How to Invest in Maker Coin MKR
If you want to buy Maker coin, check out our Buy Maker Coin Guide. You can use easy services like BiBox (not gonna lie, we had never
heard of Bibox before writing the Maker Buy Guide). Once you buy Maker coin, it can be stored in MyEtherWallet while you wait for the Maker coin price to rise.
As for why to invest in Maker coin, much has already been stated. The Maker system is already operational, and thousands of people use DAI everyday. Maker coin, with its tiny supply, is help by fewer people, but these people hold tremendous value both in financial terms and in voting rights within the Maker network. Whether or not you invest in Maker coin depends on how you imagine Maker's future going. Do you see this as the future #1 stability coin, or do you think Maker is too complicated to be widely adopted?
We happen to be very impressed with Maker's vision and execution in the real world. We agree with many industry analysts that it's a cryptocurrency with massive potential and important use cases. As always though, only you can decide if Makers coin is right for your portfolio. We advise you to do your own research and make the decision you're most comfortable with, although we will say that if you do
decide to buy Maker coin, do so quickly while the price is still down from its all time high.
Final Thoughts on Maker Coin MKR
Maker Coin is one of the best concepts in all of cryptocurrency, and it makes it possible for a stability coin as strong as DAI to exist. It's future is uncertain, but with such a strong product and such a solid international team of users and supporters, we think Maker coin's future is likely a bright one. Those who invest are likely going to be rewarded handsomely as Maker coin is more widely adopted and the cryptocurrency industry grows as a whole.