Topic: Bitcoin using or need! Vs stable coins - page 4. (Read 1207 times)

bitcoin lately become popular as a digital asset , a long term investment that promising a high return.

it is not fit anymore for those people who involved in so much cryptocurrency projects to consider bitcoin as an ideal currency, the fee is too high , the confirmation time takes time too long and many more factors that makes people feel uncomfortable to use bitcoin as a currency.
moreover there is a lot of altcoins offering a specific use case as a real digital currency that makes people in so much advantage.

the high fee in bitcoin and insane volatility makes ordinary people avoiding use it as a currency even avoiding it at all. while stable coins is a trash , there is no formula yet to make it trustable decentralized, libra could be the solution but still it is centralized.

There are many reasons why we are buying bitcoin. Yes, it is not a stable coin. As a matter of fact, it fluctuates easily. We don't know when bitcoin goes down and up. All we know is that, bitcoin is the future of currency.
Many people are buying bitcoin because we want to invest and store. Some of us are buying this for payment. We have different reasons why we buy bitcoin. And I know that even you don't want bitcoin, you will be pursue to buy specially when you see your neighbours, gradually become rich because of it.

If people will support for bitcoin's legality and become our main online currency. it will be needed and in use by many. but how could we support it if everyone will remain of this investing method? if we want bitcoin to be needed it will become stable, our excitement of our investments because of volatile price would not be profitable anymore. so bitcoin's utilization will still remain and everyone will still invest.

Stablecoins are like fiat. And if they are like fiat, they are not breaking from the system within which fiat works. That would be in contrast to the idea of cryptocurrency or Bitcoin. They are backed by fiat. Their value is pegged on fiat value. And they are also minted in as many as possible. That is not the design of Bitcoin, which is the top and leader of all coins. Cryptocurrency should be following the path of Bitcoin in terms of having a fixed total supply which cannot be tampered with. 

The users and government have different goals. We want to make transactions without government interference, that's why bitcoin became popular in the first place. The government on the other-hand want dibs from both us making transactions and storing assets.


I'm not that economically-savvy but yes that could be a problem. You can't just pump out supply. Sure for things like oil (which is consumable) they can simply cut down on production but then what happens when demand for that good decrease? Suddenly there's more "in stock".

Stablecoins came to existence when the Chinese government banned fiat currencies from crypto-exchanges. Stablecoins presented a loophole to convert cryptocurrencies to fiat value. But even now these stablecoins are seldom used outside the exchanges. Very few people hold stablecoins such as Tether and USDC in their wallets (and it makes no sense to hold these coins). 

But again stable coins will be of no use without the existence of bitcoin and it's wrong to say bitcoin inferior to stablecoins as there would had been no stablecoin without bitcoin. The only purpose off stable coin is to covert the other cryptos and store when the market down or for traders to covert cryptos during volatile situations to avoid risking.

Anyone can use bitcoin but is there really need of it? Yes because we are currently using something called fiat just nothing but paper but its said to have a particular value but do you ever thing it really had that value? The value just keep decreasing year after year which is called inflation.

Stable coin is nothing but the digital fiat more worse form of it since it may not be backed up by anything nor it is not provided by the government so it all goes to the creator's hand about its future price dependency.

Bitcoin become alternative payment if get legal from government, without get permission from government bitcoin only for investing and trading to get profit without use as currency function, I use bitcoin only investing and trading with bitcoin without think can be alternative payment with not support in my country to use bitcoin as currency payment.

I think bitcoin is only used if needed, meaning its use is not an obligation and bitcoin can be said as an alternative payment that can provide convenience when making transactions and payments will be easier, whereas for bitcoin prices will never be stable because of the influence of very limited supply and demand that is very high will always provide price movements so I think bitcoin is still inferior to stable coins.

Centralized altcoins are not to be trusted. The unique asset of every crypto that being created is decentralization and anonymity. So, if one crypto will be backed by the government, the primary purpose of it will be go to waste. And besides, is there any legit stable coin that is not turned to scam?

I don't really get what will happen if a digital currency will be backed by a physical asset. We all know that bitcoin and other alt coins prices are based on supply and demand. So if one stable coin price pump what will happen to their physical asset, will it increase also or if it is going to dump their backed asset, will be lessened? lol

"Stable" coins? You mean cryptos backed by governments, tethered to fiat currencies or to stocks of non-renewable resources? Do you really think those would be any better than bitcoins?

If there's one thing multiple crashes has shown us, we really can't rely on the government. What happens when the economy of a country whose fiat a certain crypto is tethered to collapses?

Yes. Bitcoin is created as a currency so we should promote it more about its usage. There are a lot of us here who ofen consider bitcoin as an investment or for trading purposes but the fact that bitcoin is a supporting currency then we should convince those people to focus more on bitcoin as a currency so that in the near future, chances for massive adoption of bitcoin will be very possible.

Same views and same opinion to this matter which Stable coins is totally irrelevant when we do try or do pertain on making it as a mainstream.

Fiat do exist and theres no need for other coins to take place in terms of casual real world transactions. Bitcoin existence is just on the other side
or simply means an alternative option but doesn't mean it will replace fiat anytime soon even way more on a stable coin.

Who cares?  You can send cash around the world easily enough with services like PayPal, and once the recipient has the cash he's free to spend it on anything.  If you were to receive a stablecoin, you'd have to first convert it to fiat before you could spend it, as I don't know of a single merchant in the world that accepts Tether or any other stablecoin. 

I don't think stablecoins were ever meant for spending, unlike bitcoin--even though it hasn't really caught on as a currency.  In fact I really can't see why there has been so much hype about them.  The Libra situation I can understand because it might be a landmark decision as to whether the US government is going to allow Facebook to proceed, but the rest of the stablecoins?  Why bother owning them?  You can't spend them as far as I know and the world really, really isn't looking for a replacement for cash and even electronic fiat.  That's a problem that doesn't exist.

The truth is that the world doesn't need bitcoin, and this is a fact that a lot of bitcoiners don't want to face.  The 2008 banking crisis didn't destroy the financial system, but if it had then I would argue that having something like bitcoin would be extremely useful.  But eleven years later there really aren't any issues with using fiat for transactions.  Even in countries whose currencies have been destroyed, the people who live there have turned to stable fiat currencies primarily.  Yes, there are reports of increased bitcoin adoption, but I suspect that most of their purchases are made with USD or another fiat currency that hasn't been devalued.

People created fiat payment system with additional charges to make the international payments and so on but with bitcoin no can make the profit in such a way.
So that's the reason whales in the world not allowing cryptocurrencies to rule the world in finance medium. It is great tool empower the people in the world.

From what I have discovered, most people are not interested in cryptocurrencies because they can use it for transaction, rather they are interested in it as an investment. I have asked a lot of people questions on what reasons they would like to make use of cryptocurrency and their answers is always on how much they can make from it.

Stable coins don't offer that, they are mainly focused on transaction and not like bitcoin that you can invest and make lots of money within a short or long term (or lose as well). And bitcoin is like a multi-purpose coin, you can use it for investment and you can as well use it for transactions. So, a lot of people will not be interested in making use of stable coins when they already have Bitcoin

Sounds like you're having a little hope for Bitcoin, mate. Many of us have witnessed the capability of Bitcoin and the convenience that it's causing us as a mode of payment. As for me, there have been a huge number of adoptions and even bigger organizations and developing countries are now accepting Bitcoin so I don't see any reason to lose hope for it. We need Bitcoin not just an investment and not just a mode of payment but a supporting currency. 

These great organizations that are far advanced than most of the countries of world, understand the power of bitcoin. They know what future it holds. The more you will ignore bitcoin, the more you will be going to regret in future. There are times when USA tries to pretend as it has left bitcoin but honestly, bitcoin is highly cherished by the leading countries of the world. Transaction across borders have become easy.

Who need gold and why anyone Will use Gold ? if we have USD wich you can use it around the world instantly.
it quite same right ?
well, i am not saying bitcoin same like gold, but i guess that parable will make u understand.
and , the fact is :
every people in the world needed money for day life.
but just a few people have a think to invest their money as a asset for long time .
as a gold or btc or whatever they want.
and they have a trust for their asset will grow as the time goes.
no one forced you to believe bitcoin, but the fact , most of investor believe bitcoin.
although people like you still say bitcoin is a gamble/hyip/even bubble effect