Can Stablecoins Promote the Mass Adoption of Cryptocurrencies?

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Quote from: electronicash on January 27, 2020, 12:01:31 PM

Quote from: bgaf on January 27, 2020, 11:30:53 AM

Quote from: rizkyalhabsy on January 20, 2020, 09:02:40 AM

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

What you mean there is no fun here? Cause the value has no direct movement in the market? You dont get the advantage of stablecoin? These are primarily used for direct peer to peer trading for some countries which is restricted by some third party exchange or company. Imagine there is a a coin that your allowed to trade with other crypto but restricted in your country? How can you handle that?

the stablecoins own by government will be the one that will promote the mass adoption. but those stablecoins that are meant for traders like the USDT are just going to be used for hedging of the money you got in trading. you wouldn't want to hold you BTC in times of bear market but keeping your coins in tether will best keep your funds in USD.

You're right and wrong because stablecoins will does help to boost mass adoption cause the volatility in nature of crypto make it hard for some people to invest or hold cryptocurrency as an asset.
The reason why i said you wring is because the perspective of some governments is that cryptocurrency is a threat to their national currency so i believe it will all start from the stablecoins not issue by the government.

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Quote from: bgaf on January 27, 2020, 11:30:53 AM

Quote from: rizkyalhabsy on January 20, 2020, 09:02:40 AM

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

What you mean there is no fun here? Cause the value has no direct movement in the market? You dont get the advantage of stablecoin? These are primarily used for direct peer to peer trading for some countries which is restricted by some third party exchange or company. Imagine there is a a coin that your allowed to trade with other crypto but restricted in your country? How can you handle that?

the stablecoins own by government will be the one that will promote the mass adoption. but those stablecoins that are meant for traders like the USDT are just going to be used for hedging of the money you got in trading. you wouldn't want to hold you BTC in times of bear market but keeping your coins in tether will best keep your funds in USD.

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Quote from: rizkyalhabsy on January 20, 2020, 09:02:40 AM

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

What you mean there is no fun here? Cause the value has no direct movement in the market? You dont get the advantage of stablecoin? These are primarily used for direct peer to peer trading for some countries which is restricted by some third party exchange or company. Imagine there is a a coin that your allowed to trade with other crypto but restricted in your country? How can you handle that?

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Quote from: stephanirain on January 26, 2020, 03:53:34 AM

For mass adoption to take place, a good advertising and more relevance to the current trends in the market is what this industry needs. The crypto industry is well known for its volatility that is why some people cannot risk their money for it. But mass adoption will give more sense of security since it shows that cryptocurrencies are indeed useful in this era. Hopefully, more crypto, not just stablecoins, will be highlighted for adoption to expand to other markets.

If issues with the SEC are resolved positively, all doors will be open for Libra. Facebook, Instagram and WhatsApp can provide this kind of advertising support. And stablecoin Libra will have to fulfill its mission of mass implementation of the crypt in everyday life.

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Quote from: rizkyalhabsy on January 27, 2020, 10:58:32 AM

Quote from: Xardasim on January 20, 2020, 02:27:28 PM

Quote from: rizkyalhabsy on January 20, 2020, 09:02:40 AM

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

I think so. Stablecoins are a coin far from the cryptocurrency rules. They cannot represent this market. They're not much different from digital money. Bitcoin is the most worthy representative in this regard: the founder of the market and the strongest coin.

yes i am, btw about most worthy on this case, is monero , their decentralized blockchain and their privacy is the really imposible for tracking. but the sad news , goverment already block their way.
i dont think monero have a long life for future.

I hope monero developers get a way out to survive and continue to grow in the crypto market. this is related to the misuse of monero for crime and of course there will be strict regulations and limit the use of this blockchain.

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Quote from: red4slash on January 27, 2020, 10:26:32 AM

Quote from: worle1bm on January 27, 2020, 10:20:31 AM

In order to make stablecoins valuable and ensure that they hold the value equal to USD, it is necessary that equal reserves are maintained in fiat currency. In short, we are locking the supply of fiat currency in order to release the supply of equivalent valuable cryptocurrency. If fiat currency vanishes, value of stablecoin will also decrease to zero.

In order to increase the use of stablecoin, we have to lock more and more fiat currency which doesn't make any sense to me. Only use case of stablecoin should be to provide instant liquidity in crypto market, that's it.

but the level of use of FIAT in the community is still high so it's possible to see lost stablecoin will be difficult. but in the case of its use it is not much different from FIAT but the difference is access, and this is an advantage in my opinion. because its use can cover the world, although access to buying and selling is still minimal.

We can argue that using stablecoin can promote universal application of same currency but again the problem is that the value of two currencies are relative, not absolute. If we are using USDT then it may have different value for my Euro worth good on one day than the other. This will affect the use of stablecoin across nations. It will be equivalent to using any other cryptocurrency.

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Quote from: Xardasim on January 20, 2020, 02:27:28 PM

Quote from: rizkyalhabsy on January 20, 2020, 09:02:40 AM

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

I think so. Stablecoins are a coin far from the cryptocurrency rules. They cannot represent this market. They're not much different from digital money. Bitcoin is the most worthy representative in this regard: the founder of the market and the strongest coin.

yes i am, btw about most worthy on this case, is monero , their decentralized blockchain and their privacy is the really imposible for tracking. but the sad news , goverment already block their way.
i dont think monero have a long life for future.

btcdie

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Stablecoin has high liquidity because remembering that traders often use this it is easier to use and move between exchanges. Not infrequently also investors who will come out of the average market using stablecoin, until the volume is very large, even beat the volume of bitcoin. But the thing to remember is that Stablecoin is not a true crypto, it's just that it makes it easier for traders and those who don't like high volatility to store value.

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Quote from: worle1bm on January 27, 2020, 10:20:31 AM

In order to make stablecoins valuable and ensure that they hold the value equal to USD, it is necessary that equal reserves are maintained in fiat currency. In short, we are locking the supply of fiat currency in order to release the supply of equivalent valuable cryptocurrency. If fiat currency vanishes, value of stablecoin will also decrease to zero.

In order to increase the use of stablecoin, we have to lock more and more fiat currency which doesn't make any sense to me. Only use case of stablecoin should be to provide instant liquidity in crypto market, that's it.

but the level of use of FIAT in the community is still high so it's possible to see lost stablecoin will be difficult. but in the case of its use it is not much different from FIAT but the difference is access, and this is an advantage in my opinion. because its use can cover the world, although access to buying and selling is still minimal.

worle1bm

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In order to make stablecoins valuable and ensure that they hold the value equal to USD, it is necessary that equal reserves are maintained in fiat currency. In short, we are locking the supply of fiat currency in order to release the supply of equivalent valuable cryptocurrency. If fiat currency vanishes, value of stablecoin will also decrease to zero.

In order to increase the use of stablecoin, we have to lock more and more fiat currency which doesn't make any sense to me. Only use case of stablecoin should be to provide instant liquidity in crypto market, that's it.

wozzek23

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Stablecoins are actually good for those people who do not feel secure with the high volatile coins like btc, etc. Stablecoins does not have much volatile price and hence there is no much risk of excess loss holding in stable coins.

But, what I think is that stablecoins are good for trading pairs or to store our funds in bearish markets but they are not actually good for trading purpose. They might be used in a lot of technical ways like sending or recieving payments so I think they might promote the mass adoption of cryptocurrencies by serving as a mean of payment. Stablecoins would not have higher growth in the market but yet they would be in demand keeping a lot of people in close chain.

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there is a possibility. we can see the progress of the usdt which becomes payment at pornhub, if the platform mentions that usdt can be a good option for payment, then it is not impossible that other platforms will also adopt it. in addition, libra which is a coin from the facebook platform might also do the same thing, considering that their platform is also a potential media for marketing and payment using their own crypto is also not impossible in the future.

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Quote from: JessicaVL on January 20, 2020, 02:38:36 AM

Stablecoins have existed in the cryptocurrency space for a few years, but only gained prominence in the last year or so. Stablecoins are cryptocurrencies that are backed by other assets or benchmarks, such as the US Dollar, and, as the name suggests, they are stable in nature — or are at least intended to be so. Bitcoin is known for its volatility and that has led some people to believe that, while it is a good store of value, it may not be the most convenient form of payment. Stablecoins that gained a lot of popularity, thanks to Tether’s USDT, are now flooding the cryptocurrency market. There are over one hundred different stablecoin projects that exist in the market today with several more still to be launched in the coming year. Cryptocurrencies are gaining traction not only from retail investors, but also from institutional investors, which makes it the most apposite time to discuss their role in mass adoption.

Read more here: https://www.etoro.com/blog/market-insights/what-role-will-stablecoins-play-in-crypto-mass-adoption/

For mass adoption to take place, a good advertising and more relevance to the current trends in the market is what this industry needs. The crypto industry is well known for its volatility that is why some people cannot risk their money for it. But mass adoption will give more sense of security since it shows that cryptocurrencies are indeed useful in this era. Hopefully, more crypto, not just stablecoins, will be highlighted for adoption to expand to other markets.

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Stablecoin can be an alternative to mass adoption because stablecoin is always directly related to fiat like USD. This makes it easy for people to be able to buy it.
Just imagine if they can't buy it using Fiat, then everyone is required to buy a rig mining tool whose price is certainly not cheap for some people.

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Quote from: huu78 on January 25, 2020, 06:36:10 AM

Indeed a lot of stable coins that is in the cryptocurrency but everything is not really stable because there are some problems exchange a quiet Buy and sell orders make selling it so hard and far from the stable estimate of the coin. But a good stable coin is also a lot so we can make a solution if the bear market occurs because of the stable price that makes our money remain intact.

Stable coins indeed need to control daily traders fund. All of those stable coins are real but spreading FUD can happen in any coin. Tether is dumped below 1$ when it’s was huge FUD after printed version coin. USDT experiencing this kinda situation. Recently PornHub industry announcement make me happy to regarding tether gateway. I hope mass adoption will start from this roadmap.

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Quote from: JessicaVL on January 20, 2020, 02:38:36 AM

Stablecoins have existed in the cryptocurrency space for a few years, but only gained prominence in the last year or so. Stablecoins are cryptocurrencies that are backed by other assets or benchmarks, such as the US Dollar, and, as the name suggests, they are stable in nature — or are at least intended to be so. Bitcoin is known for its volatility and that has led some people to believe that, while it is a good store of value, it may not be the most convenient form of payment. Stablecoins that gained a lot of popularity, thanks to Tether’s USDT, are now flooding the cryptocurrency market. There are over one hundred different stablecoin projects that exist in the market today with several more still to be launched in the coming year. Cryptocurrencies are gaining traction not only from retail investors, but also from institutional investors, which makes it the most apposite time to discuss their role in mass adoption.

Read more here: https://www.etoro.com/blog/market-insights/what-role-will-stablecoins-play-in-crypto-mass-adoption/

Indeed. stablecoins can promote the increase in the adoption of crypto as there will be answer to the price volatility of bitcoin. i did not know about the stablecoins in last bullrun did not sell the tokens now i am in heavy losses.

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Why would a healthy non trading individual get involved with a stablecoin, there is zero reason for it.
Absolutely no benefit, only risk and a lot of hassle.

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Quote from: JessicaVL on January 20, 2020, 02:38:36 AM

Stablecoins have existed in the cryptocurrency space for a few years, but only gained prominence in the last year or so. Stablecoins are cryptocurrencies that are backed by other assets or benchmarks, such as the US Dollar, and, as the name suggests, they are stable in nature — or are at least intended to be so. Bitcoin is known for its volatility and that has led some people to believe that, while it is a good store of value, it may not be the most convenient form of payment. Stablecoins that gained a lot of popularity, thanks to Tether’s USDT, are now flooding the cryptocurrency market. There are over one hundred different stablecoin projects that exist in the market today with several more still to be launched in the coming year. Cryptocurrencies are gaining traction not only from retail investors, but also from institutional investors, which makes it the most apposite time to discuss their role in mass adoption.

Read more here: https://www.etoro.com/blog/market-insights/what-role-will-stablecoins-play-in-crypto-mass-adoption/

I think yes indeed. Stable coins have gained more traction these days and most popular stable coin Libra coin by Facebook gained a lot of popularity.
Libra coin proved that mass adoption can be attained for cryptocurrencies as well.
If only it didn't have to face all those judiciary issues, crypto would have already been globally adopted by now.

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Quote from: travwill on January 24, 2020, 05:29:29 AM

I think they can. Indeed, if stable coins gain popularity as a type of fiat currency asset only in digital format, this will in any case direct the attention of stable coins users to cryptocurrencies,
because buying them will become an extremely simple task for them. Add to this the crypto market growth spurt, and we get the second full-scale bull run.

But there has to be some form of reliable connection that can connect stablecoins to cryptocurrencies, and cryptocurrencies to fiat. We can't just say that stablecoins in itself can promo the mass adoption of cryptocurrencies without that vital part that would entice people to switch over to cryptocurrencies. But I think that with all of that in the mixture, we have a good chance of spurring a mass adoption of cryptocurrencies

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In my own opinion, i think stable coin will promote whatever adoption they are backed with.

For example, if you look into digital gold stable coin, it is said to be backed by real physical gold, and that if you get gold tokens, you automatically own ample size from the real gold.

The gold stable coin therefore is promoting investing in physical gold,

Stable coin definitely, will ensure that investors keep their funds in fixed price (99% because tether has sold for 0.9$ before)

Topic: Can Stablecoins Promote the Mass Adoption of Cryptocurrencies? (Read 758 times)