Bitcoin - the future "stable coin" - page 11.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: disappear4ever on November 11, 2018, 12:15:19 AM

That is what I mean - when the stable coin getting unstable, bitcoin getting more stable, why this happening?

it is mostly a coincidence. bitcoin had a certain trend. look at 2013 till 2015 as a trend that is already over. the price shoot up to a bubble by the end of 2013 then the bubble burst and price came down. a bear market started and finally came to an end. in 2015 (end of bear market of that time) price became stable and that lasted a couple of months. Tether wasn't having troubles back then. it wasn't even that big.
same is now. it is the trend that bitcoin is on which made it stable. it is one of the stages! it has nothing to do with Tether.

Quote

Stable coin is a definition for one coin which can prevent people's asset from loss when something big or negative effect happens. I do not believe those coins like USDT will inherently be a stable coin, they were manipulated by a company, also it is not possible for any one company to support the world class stable coin volume.

From this perspective, I rather believe bitcoin will be a universally accepted stable coin in the world when it is getting acquainted by everyone on the earth.

that is not a wrong definition. but as i said price being stable doesn't make it a "stable-coin" because that term is usually used for certain coins like Tether which are pegged.

disappear4ever

newbie

Activity: 98

Merit: 0

Quote from: pooya87 on November 10, 2018, 11:43:47 PM

Quote from: disappear4ever on November 10, 2018, 11:38:17 PM

~ 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth,

there was no bitcoin price increase! you were mistakenly looking at Tether/Btc and thought that is bitcoin price. instead you should have checked USD/bitcoin to see the price did not change.

Yes, you are right. I forgot to mention that I am talking about BTC/USDT pair, when USDT dropped dramatically in comparing with USD, bitcoin's reaction is quick & its value stands firm. That is what I mean - when the stable coin getting unstable, bitcoin getting more stable, why this happening?

Quote

at the same time, many investors dumped their USDT & bought bitcoin instead - hence in fact, bitcoin took the responsibility of acting as a stablecoin, which is very interesting.

that is not what happened and that is not what a stablecoin means!
a stable coin is a term that is used for coins that are pegged to another currency so that they are always having the same value as that other currency. for instance Tether (USDT) is supposed to be pegged with USD and 1 USDT should be equal to 1 USD.
there are other stable coins that are pegged to gold, other fiat,...

That is what happened that many people changed their USDT to Bitcoin & stable coin does not mean it must pegged with another currency.

Stable coin is a definition for one coin which can prevent people's asset from loss when something big or negative effect happens. I do not believe those coins like USDT will inherently be a stable coin, they were manipulated by a company, also it is not possible for any one company to support the world class stable coin volume.

From this perspective, I rather believe bitcoin will be a universally accepted stable coin in the world when it is getting acquainted by everyone on the earth.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: disappear4ever on November 10, 2018, 11:38:17 PM

In the past two months, bitcoin's fluctuation very small except for 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth, at the same time, many investors dumped their USDT & bought bitcoin instead - hence in fact, bitcoin took the responsibility of acting as a stablecoin, which is very interesting.

Why did they change to pursue bitcoin in such a panic situation? Which kind of true value bitcoin can bring to them? Will bitcoin turn into a real stablecoin in the future? Is it possible for bitcoin to be a popular tool in the payment industry? .....

Exactly what is making BTC so stable right now?

“Why did they change to pursue bitcoin in such a panic situation? Which kind of true value bitcoin can bring to them? Will bitcoin turn into a real stablecoin in the future? Is it possible for bitcoin to be a popular tool in the payment industry? ..... ”

They fell back to bitcoin in a panic because bitcoin is propped up by investors that have a lot to lose if it fails.

Bitcoin doesn’t bring value to them. There’s safety in numbers, i.e., if I lose a little then you lose millions.

Bitcoin was on the way to becoming a popular tool for the payment industry thanks to Tony Gallippi and crew at BitPay. The problem is when major businesses started accepting bitcoin no one was using it for purchases because everyone feels they have to hodl. That result forced the major businesses to stop accepting bitcoin.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: disappear4ever on November 10, 2018, 11:38:17 PM

~ 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth,

there was no bitcoin price increase! you were mistakenly looking at Tether/Btc and thought that is bitcoin price. instead you should have checked USD/bitcoin to see the price did not change.

Quote

at the same time, many investors dumped their USDT & bought bitcoin instead - hence in fact, bitcoin took the responsibility of acting as a stablecoin, which is very interesting.

that is not what happened and that is not what a stablecoin means!
a stable coin is a term that is used for coins that are pegged to another currency so that they are always having the same value as that other currency. for instance Tether (USDT) is supposed to be pegged with USD and 1 USDT should be equal to 1 USD.
there are other stable coins that are pegged to gold, other fiat,...

disappear4ever

newbie

Activity: 98

Merit: 0

In the past two months, bitcoin's fluctuation very small except for 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth, at the same time, many investors dumped their USDT & bought bitcoin instead - hence in fact, bitcoin took the responsibility of acting as a stablecoin, which is very interesting.

Why did they change to pursue bitcoin in such a panic situation? Which kind of true value bitcoin can bring to them? Will bitcoin turn into a real stablecoin in the future? Is it possible for bitcoin to be a popular tool in the payment industry? .....

PS:

1) I am not talking about NOW, it is for long-term consideration (maybe 10-20 years). In this period, bitcoin still keep going up & getting very valuable;
2) My assumption based on the mass adoption of bitcoin in global payment sector, together with the development of blockchain & bitcoin itself;
3) "Stable coin" does not mean bitcoin's price is fixed or pegged with fiat currency, it is more like an independent currency beyond any national digital currency which will be the main stream in next 10 years because it is evitable that big economy will issue their own digital currency in the coming future.

Topic: Bitcoin - the future "stable coin" - page 11. (Read 2216 times)