Bitcoin using or need! Vs stable coins

Fortify

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Quote from: Polo7 on October 24, 2019, 02:47:38 PM

WHO need Bitcoin and Why anyone Will use Bitcoin? If we have stable coins wich You can transfer around the world all Ready instantly
And They are stable.

Bitcoin is Not money Bitcoin is gamble, One day You put money in Other day You might lose it.

There is no clear way to predict btc price either.

Year 2019 who need Bitcoin??
Year 2020 who need? And who Will be using Bitcoin year 2025 Huh

Bitcoin Will lose all the power If there is no clear Reason Why would we need btc and how we gona use it.

Day traders swing traders... Don't keep Bitcoin alive for too Long all They do is trading btc with each other, there is no profit but Will be losses.

But look at the stable coins They are stable and have same aspects as Bitcoin has, so Can anyone explain to me who or why Will need Bitcoin?

It does seem like Bitcoin is on a bit of a downward spiral right now and there are plenty of other alternatives out there which have improved on it's weaknesses. The trouble is when you see a tumble like this, just like there is irrational hysteria on the way up - in the form of a rapid spike, then there is also a snowball effect on the way down - where everyone is trying to get out because they don't know where the bottom lies. Stable coins or coins connected to the currency of a particular country are going to do better in the long term because they have a central bank which is able to steer them with a regulated amount in circulation. While everyone blesses Bitcoin for having a hard limit of 21 million and that does have benefits, it's also highly restrictive in the huge web of transactions taking place all the time.

LUCKMCFLY

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Quote from: HUSTLER on December 31, 2021, 01:51:09 PM

If the stable coin you mean is USD, you are better suited to discuss it on the forex forum, bitcoin has its own characteristics. And if you mean usdt (tether), this coin is also very active in btc and alt price pairs. although price refers to the original dollar, tether cannot stand alone especially if it is used for alt trading whose daily charts still depend on btc.

You are right in your statement, if we put everything in context, BTC will always give life to this type of currencies and if we look on YouTube or any social network where they talk about trading, the pair BTC / USDT, ALTCOIN / USDT is used a lot , I think it is what people see closest to the USD currency, of course everything would be ideal if trading with USD, but currently USDt is being widely accepted, in other cases people to save much more look for pairs that have to do with BUSD, which is not bad at all and is widely accepted.

BuNga_cute

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Quote from: dezoel on January 01, 2022, 05:58:28 PM

I don’t know if you all ever get tired of this same talk. I just wonder why it is every time that you all will be asking why is the need for Bitcoin. If there was no need for Bitcoin then why has it been growing over the years now? If Bitcoin was useless, then right from the start it would have started falling and people wouldn’t be interested in it by now.

But it’s because of how useful it is, that’s why you have seen it keep growing over the years. Still, that is not to say that Fiat is not useful, fiat and stable coins in their own way are also useful, but over time they start to depreciate in value due to inflation. But Bitcoin will continue to increase in value, which is why you should hold some of your money in Bitcoin for a long term.

A person who doubts Bitcoin means that he does not understand Bitcoin, and maybe has never even tried to use Bitcoin. Because I've been using
Bitcoin for several years, so I admit I really need Bitcoin, because there are so many benefits that I get from Bitcoin. As you said Bitcoin continues
to grow every year, meaning more and more people are using and needing Bitcoin. That is why Bitcoin has become so popular that there are even
countries that legalize Bitcoin as a legal tender. But Bitcoin also still has some drawbacks, therefore we still need fiat or stable coins.
So in my opinion, don't compare Bitcoin with stable coins or fiat, because from the beginning Bitcoin was created as an alternative payment,
not to replace fiat. Indeed, ideally Bitcoin and fiat complement each other so that human life will be much better.

LUCKMCFLY

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Quote from: Ngemmeng on December 29, 2021, 06:51:52 PM

Quote from: HUSTLER on December 25, 2021, 12:55:42 PM

I don't think bitcoin can be a stable coin because bitcoin will always have up and down price movements that will never make the price of bitcoin stable, indeed in the future nobody will know that bitcoin can still be used or not but you should know that bitcoin is still potentially good for the future.

bitcoin prices will forever fluctuate because bitcoin prices are purely influenced by supply and demand, besides bitcoin prices can also be influenced by news circulating. In contrast to stable coins like USDT which get support from USD and forever the value remains 1 USD. but even so bitcoin will still be used for long-term investment purposes or day trading.

You are right, BTC has been seen by many as if it were a store of value, I would not know how else to put it, stablecoins are generally not purely fixed in value FIAT, they always carry a mixture of crypto and this is not them. pure, the currency as such is the one that establishes the faithful comparison between BTC and its value, which is also why there has always been a certain friction with the USDT, since the USDT is a very accepted stablecoin but that in 2017 had some inconsistencies that were canceled by Bitfinex, a certain sum, now what can be said about stablecoins against BTC is that a stablecoin can never be superior to BTC.

dezoel

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I don’t know if you all ever get tired of this same talk. I just wonder why it is every time that you all will be asking why is the need for Bitcoin. If there was no need for Bitcoin then why has it been growing over the years now? If Bitcoin was useless, then right from the start it would have started falling and people wouldn’t be interested in it by now.

But it’s because of how useful it is, that’s why you have seen it keep growing over the years. Still, that is not to say that Fiat is not useful, fiat and stable coins in their own way are also useful, but over time they start to depreciate in value due to inflation. But Bitcoin will continue to increase in value, which is why you should hold some of your money in Bitcoin for a long term.

HUSTLER

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If the stable coin you mean is USD, you are better suited to discuss it on the forex forum, bitcoin has its own characteristics. And if you mean usdt (tether), this coin is also very active in btc and alt price pairs. although price refers to the original dollar, tether cannot stand alone especially if it is used for alt trading whose daily charts still depend on btc.

kendedese

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Quote from: Ngemmeng on December 29, 2021, 06:51:52 PM

Quote from: HUSTLER on December 25, 2021, 12:55:42 PM

I don't think bitcoin can be a stable coin because bitcoin will always have up and down price movements that will never make the price of bitcoin stable, indeed in the future nobody will know that bitcoin can still be used or not but you should know that bitcoin is still potentially good for the future.

bitcoin prices will forever fluctuate because bitcoin prices are purely influenced by supply and demand, besides bitcoin prices can also be influenced by news circulating. In contrast to stable coins like USDT which get support from USD and forever the value remains 1 USD. but even so bitcoin will still be used for long-term investment purposes or day trading.

Yes, they both have different functions. I use USDT to avoid losses when the market is down and I use bitcoin to increase the digital assets I have. bitcoin and USDT both have the largest community in the world and this can be proven by the very large daily trading volume. as I said before if USDT can be used to avoid losses, in other words if someone uses bitcoin to trade or invest they will definitely use USDT when the market is down.

Kyraishi

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Quote from: ?? on ??

Will I Invest my hard brought in genuine cash into Bitcoin?? The response is no! Will any individual who is in sane brain Will Invest in btc?? The response is clear no!!

Except that people without brains have consistently outperformed the market for the past decade... Weird.

Quote from: Ngemmeng on December 29, 2021, 06:51:52 PM

Quote from: HUSTLER on December 25, 2021, 12:55:42 PM

I don't think bitcoin can be a stable coin because bitcoin will always have up and down price movements that will never make the price of bitcoin stable, indeed in the future nobody will know that bitcoin can still be used or not but you should know that bitcoin is still potentially good for the future.

bitcoin prices will forever fluctuate because bitcoin prices are purely influenced by supply and demand, besides bitcoin prices can also be influenced by news circulating. In contrast to stable coins like USDT which get support from USD and forever the value remains 1 USD. but even so bitcoin will still be used for long-term investment purposes or day trading.

Exactly.

If you need to hold value in the short run it would be stupid to put it all into something as volatile as BTC, so a stablecoin makes sense. But holding stablecoins in the long run rarely makes sense given the fact that you'd essentially expose yourself to both the risk of fiat depreciation and the risk of the custodian exit scamming.

Ngemmeng

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Quote from: HUSTLER on December 25, 2021, 12:55:42 PM

I don't think bitcoin can be a stable coin because bitcoin will always have up and down price movements that will never make the price of bitcoin stable, indeed in the future nobody will know that bitcoin can still be used or not but you should know that bitcoin is still potentially good for the future.

bitcoin prices will forever fluctuate because bitcoin prices are purely influenced by supply and demand, besides bitcoin prices can also be influenced by news circulating. In contrast to stable coins like USDT which get support from USD and forever the value remains 1 USD. but even so bitcoin will still be used for long-term investment purposes or day trading.

cheezcarls

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Quote from: Polo7 on October 24, 2019, 02:47:38 PM

WHO need Bitcoin and Why anyone Will use Bitcoin? If we have stable coins wich You can transfer around the world all Ready instantly
And They are stable.

Bitcoin is Not money Bitcoin is gamble, One day You put money in Other day You might lose it.

There is no clear way to predict btc price either.

So Why we exacly need Bitcoin?

Year 2019 who need Bitcoin??
Year 2020 who need? And who Will be using Bitcoin year 2025 Huh

Bitcoin Will lose all the power If there is no clear Reason Why would we need btc and how we gona use it.

Day traders swing traders... Don't keep Bitcoin alive for too Long all They do is trading btc with each other, there is no profit but Will be losses.

But look at the stable coins They are stable and have same aspects as Bitcoin has, so Can anyone explain to me who or why Will need Bitcoin?

Think of BTC like you are trading in a “decentralized” stock market. Although that El Salvador already implemented BTC as a legal tender by making it as a medium of exchange through Lightning Network, it’s an alternative payment source. However, it cannot replace fiat. We still need it for a very long time, as both fiat and cryptocurrencies can co-exist with one another in their different use cases and fundamentals.

As for stablecoins, it is my alternative source of saving money and to either cut losses or putting my crypto gains on it. However, I usually saved more money on stablecoins than in banks despite I am saying it’s “alternative”.

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Quote from: LUCKMCFLY on December 27, 2021, 08:17:46 AM

Quote from: Tumanggor on December 20, 2021, 07:42:20 PM

It's a shame the OP hasn't been active for a long time LOL

Quote from: Polo7 on October 24, 2019, 02:47:38 PM

So Why we exacly need Bitcoin?

only bankers should have questions like this

Bitcoin is needed so that humans can freely transact with others easily, efficiently and without large fees

why bankers don't like bitcoin? because they know that to control the world and humans have to control money

and fiat is a failed product (maybe stable coin too) LOL

Many times not even the bankers, because the bankers know the value of BTC, what they do is be against it, but I am sure they own BTC, they cannot refuse money, and obviously BTC represents money and a lot with the option to continue multiplying In addition to the benefits that BTC has on the traditional economy, that it is deflationary and not managed by third parties is something unique, I think that the lack of control is why many are against BTC. At least that type of economy is unique and superior to the traditional one.

It is true than bankers will hold some bitcoin at this point in time, as it has become so popular, but that is not the point at all: stable coins mean that they simply keep a standard exchange rate against the euro, dollar or whatever. Their have very limited investment value as there is no scarcity at all of any of these coins. You need a complex structure to transfer and work with them and have little advantage over modern electronic transfer systems. Stablecoins are not needed at all IMHO and should be removed as they do have thrid party risks in their issuance.

LUCKMCFLY

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Quote from: Tumanggor on December 20, 2021, 07:42:20 PM

It's a shame the OP hasn't been active for a long time LOL

Quote from: Polo7 on October 24, 2019, 02:47:38 PM

So Why we exacly need Bitcoin?

only bankers should have questions like this

Bitcoin is needed so that humans can freely transact with others easily, efficiently and without large fees

why bankers don't like bitcoin? because they know that to control the world and humans have to control money

and fiat is a failed product (maybe stable coin too) LOL

Many times not even the bankers, because the bankers know the value of BTC, what they do is be against it, but I am sure they own BTC, they cannot refuse money, and obviously BTC represents money and a lot with the option to continue multiplying In addition to the benefits that BTC has on the traditional economy, that it is deflationary and not managed by third parties is something unique, I think that the lack of control is why many are against BTC. At least that type of economy is unique and superior to the traditional one.

cafucafucafu

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In terms of the transactional value of bitcoin, you're right, stables do provide that.

But when it comes to storage of value for the long run, this is something that stables absolutely cannot do given that they are tied to traditional forms of fiat instead of BTC which is a decentralized protocol that can never be inflated beyond its schedule.

And that, arguably is the biggest advantage of BTC.

Falconer

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Quote from: HUSTLER on December 25, 2021, 12:55:42 PM

I don't think bitcoin can be a stable coin because bitcoin will always have up and down price movements that will never make the price of bitcoin stable,

Do you know what the real reason is? It is because bitcoin is a decentralized currency that no one can control it except to regulate its users. You can't expect bitcoin to be stablecoin although in the future its adoption could be more developed. Bitcoin will remain decentralized even if the government is able to regulate its users to be centralized.

Because bitcoin is a currency or asset that function like a currency, it can be used to make payment to anyone who wants to receive it. Its function as a currency, of course, bitcoin can be used in any case such as paying, betting or storing it. The OP may need to read more about bitcoin to broaden his horizons, bitcoin is not gambling although some people invest or trade like gambling (no analysis and only hope).

HUSTLER

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I don't think bitcoin can be a stable coin because bitcoin will always have up and down price movements that will never make the price of bitcoin stable, indeed in the future nobody will know that bitcoin can still be used or not but you should know that bitcoin is still potentially good for the future.

jossiel

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Quote from: Kimonoe on December 20, 2021, 07:45:37 AM

Quote from: jossiel on December 19, 2021, 08:55:47 PM

And that's what really going to happen soon. CBDC's will be having their share and that's what the banks are going on for.

Every cryptocurrency is good as payment as long as there's someone who's willing to accept it as a payment. That's what cryptocurrencies are for, with or without a stable value as long as there's a demand.

Anyone can opt for it as payment.

but that may only happen at the time of interpersonal purchases, as it is difficult for large companies to accept cryptocurrencies as long as the government has not legalized it. but in the future I think if the situation and conditions support the development of the digital world, and are relevant for use, I don't think the government will turn a blind eye

As said, it depends on the transaction and the agreement of both parties. So if both agree, that's enough for one to receive the agreed crypto in payment.

And relying on the government's rule, it's really one of the reasons why others don't want to accept payment in crypto.

But if there's no regulation stopping them to receive and send crypto as payment, there's no problem.

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It's a shame the OP hasn't been active for a long time LOL

Quote from: Polo7 on October 24, 2019, 02:47:38 PM

So Why we exacly need Bitcoin?

only bankers should have questions like this

Bitcoin is needed so that humans can freely transact with others easily, efficiently and without large fees

why bankers don't like bitcoin? because they know that to control the world and humans have to control money

and fiat is a failed product (maybe stable coin too) LOL

Kimonoe

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Quote from: jossiel on December 19, 2021, 08:55:47 PM

Quote from: kingangel on December 19, 2021, 12:18:13 PM

people need bitcoin for their salary, for profit. we can use crypto as payment, around the world, but that coin must be stable, no up down value, it have same cost in every country. every country can create their own coin than make regulation about it, so poeple there some equally between each country.

And that's what really going to happen soon. CBDC's will be having their share and that's what the banks are going on for.

Every cryptocurrency is good as payment as long as there's someone who's willing to accept it as a payment. That's what cryptocurrencies are for, with or without a stable value as long as there's a demand.

Anyone can opt for it as payment.

but that may only happen at the time of interpersonal purchases, as it is difficult for large companies to accept cryptocurrencies as long as the government has not legalized it. but in the future I think if the situation and conditions support the development of the digital world, and are relevant for use, I don't think the government will turn a blind eye

jossiel

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Quote from: kingangel on December 19, 2021, 12:18:13 PM

people need bitcoin for their salary, for profit. we can use crypto as payment, around the world, but that coin must be stable, no up down value, it have same cost in every country. every country can create their own coin than make regulation about it, so poeple there some equally between each country.

And that's what really going to happen soon. CBDC's will be having their share and that's what the banks are going on for.

Every cryptocurrency is good as payment as long as there's someone who's willing to accept it as a payment. That's what cryptocurrencies are for, with or without a stable value as long as there's a demand.

Anyone can opt for it as payment.

kingangel

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people need bitcoin for their salary, for profit. we can use crypto as payment, around the world, but that coin must be stable, no up down value, it have same cost in every country. every country can create their own coin than make regulation about it, so poeple there some equally between each country.

Topic: Bitcoin using or need! Vs stable coins (Read 1186 times)