Bitcoin is hyper unstable so it can be good and bad but a stable coin that grows in value with less fluctuation brings security to those who use it. Bitcoin also has it's fair share of scammers trying to rip people off just as been seen. Bitcoin will always be the first and possibly the biggest but it comes with inherit risks that far greater than most investments even though it's mean to be a payment platform and not an investment.

Not sure what you mean by pegging and proxying mate care to explain?