DO WE REALLY NEED MORE STABLE COINS? - page 14.

thaliaand

member

Activity: 574

Merit: 10

Quote from: kawetsriyanto on March 26, 2019, 01:40:49 AM

Actually, there are some positive and negative sides of the stable coins.
However, so far, what makes many people interested to invest in cryptocurrency is about the volatile characteristics, that can lead them to gain more profits. The presence of stable coins may be the choice when the bear market is happening, it can decrease the consequences of losing more money. However, on the other sides, when it is bullrun someday, how's about the value of stable coins?
However, yeah, stable coins may be also needed in order to be a certain transaction or financial system.

I agree with you. Each conditions have its positive and negative impacts depend on which part you are taking part. As investors (long-term), stable coin is needed in order to maintain its project/platform in certain purposes such as financial services or transactions. Meanwhile, the volatility of coins in the market will be the opportunities for active traders in regard to gain profit.

killat

member

Activity: 742

Merit: 21

Be the reason someone smiles today

I think we need a more stable market overall, not more stable coins. There are already several stable coins on the market that people can use to keep their funds during market' turbulences. Why would anyone need more?

Herbert2020

legendary

Activity: 1946

Merit: 1137

what we really need is a decentralized stable coin that is at least stable 95% of the times. so far we do NOT have anything like that. all we have are centralized stable coins most of which aren't even stable or trusted to be used.
so we don't need any more of the same thing and there is no point in creating new coins that are exactly the same as what we already have. they will simply fail like any other copycat coin so far.

kawetsriyanto

legendary

Activity: 2226

Merit: 1086

duelbits.com

Actually, there are some positive and negative sides of the stable coins.
However, so far, what makes many people interested to invest in cryptocurrency is about the volatile characteristics, that can lead them to gain more profits. The presence of stable coins may be the choice when the bear market is happening, it can decrease the consequences of losing more money. However, on the other sides, when it is bullrun someday, how's about the value of stable coins?
However, yeah, stable coins may be also needed in order to be a certain transaction or financial system.

septi.JR

sr. member

Activity: 658

Merit: 250

of course, stable coins are needed, with stable coins. This convenience is expected to be able to be applied to maximize some functions, such as payments etc. Crypto traders really like the constant and fast price swings. Benefits can be obtained in a short time, but losses also appear no less quickly. While traders like high volatility in the crypto market

Menawi12

member

Activity: 700

Merit: 10

Quote from: auntyjmary on March 24, 2019, 07:14:50 AM

Some friends of mine always lament that 'we need more stable coins in the cryptosphere' and I think that is highly achievable looking at the promising prospects that has been achieved by tether. It seems some upcoming projects are also promising to introduce stable coins. Is it possible to have more stable coins on the crypto market? What would really happen if we get more stable coins on the crypto market, would the volatility reduce?

I think anyone or any institution can make their own stable coin as long back up by fiat money in banks. Its hard to reduce volatiling price in market because its free market and anyone can sell or buy instantly. We can not control what people do with their own coin because its his right.

DoublerHunter

hero member

Activity: 2590

Merit: 644

Quote from: Ararbermas on March 26, 2019, 12:16:42 AM

Quote from: jorenpo on March 24, 2019, 08:44:30 AM

why do we need more stable coin? at the first place cryptocurrency known because of its volatility. most of the investor invest because of it.

yes that's true that investors always looking for a coin that so volatile which is in order to make a profits and to double their capital. So definitely we don't really need a stable coin in the market because it's useless and it can't help us to become profitable and we can't even make a cents on it.

We still need stable coin like USDT, you know why? Because for example, bitcoin went down and of course altcoins swinging their price too because of bitcoin movement. Then at that time, you can divert into USDT from bitcoin to cut your possible looses which USDT is stable and it can help you when you are in trading.

coco23

hero member

Activity: 1974

Merit: 856

Quote from: togamamora on March 25, 2019, 11:24:41 PM

We already have USDT, USDC and True USD. There is enough stable coins. Perhaps, the government should come up with their own cryptocurrencies and we can always deposit this into crypto exchanges to start our trade, instead of going through a third party to convert fiat to Bitcoin.

Well, stable coins are not necessarily cryptocurrencies. But I agree that goverments or big corporations should create their own stablecoins. Those coins would gain a higher trust if they are backup by a large authority.
The situation we have now with more and more stablecoins coming is confusing. Also it will be only a matter of time until the first stablecoin collapses due to a theft or a bankruptcy.

Ararbermas

sr. member

Activity: 2016

Merit: 283

Quote from: jorenpo on March 24, 2019, 08:44:30 AM

why do we need more stable coin? at the first place cryptocurrency known because of its volatility. most of the investor invest because of it.

yes that's true that investors always looking for a coin that so volatile which is in order to make a profits and to double their capital. So definitely we don't really need a stable coin in the market because it's useless and it can't help us to become profitable and we can't even make a cents on it.

tenakha

hero member

Activity: 1470

Merit: 509

Quote from: togamamora on March 25, 2019, 11:24:41 PM

We already have USDT, USDC and True USD. There is enough stable coins. Perhaps, the government should come up with their own cryptocurrencies and we can always deposit this into crypto exchanges to start our trade, instead of going through a third party to convert fiat to Bitcoin.

In crypto world everything can develop as it wish because of regulations. However, this creates a better way for the more robust ones to move forward. Those who are not already needed will not live long, so it does not matter.

Lakai01

legendary

Activity: 2296

Merit: 2721

Stable coins are exactly that what crypto currencies were in 2017. We had hundreds of coins with nearly the same functionality and no one needed. Only a few survived and are still used and I am sure that will happen to those stable coins, too.

christian07

full member

Activity: 265

Merit: 102

For me even we have many stable coins here or not i think better to look if we are secure like they are trusted but not that really many like 500 stable coins then if some developer develop more and we have already good stable coins here in crypto i think that's bad idea to do still if they create new then do much better,Moreover if this can convert to fiat easily then that's good and for me we need regulator in stable coins another thing create like this that related to some banks

steveabrahams

sr. member

Activity: 1050

Merit: 254

Actually we don't have any stable coins in cryptocurrency, even popular cryptocurrency like bitcoin is not that stable. The price always changing every seconds every minutes. Tether/usdt koin is stable coin though lol, but i'm agree i think we need a stable coin that the price always stable, not changed.

togamamora

newbie

Activity: 23

Merit: 4

We already have USDT, USDC and True USD. There is enough stable coins. Perhaps, the government should come up with their own cryptocurrencies and we can always deposit this into crypto exchanges to start our trade, instead of going through a third party to convert fiat to Bitcoin.

wuvdoll

legendary

Activity: 1442

Merit: 1025

Quote from: auntyjmary on March 24, 2019, 07:14:50 AM

Is it possible to have more stable coins on the crypto market? What would really happen if we get more stable coins on the crypto market, would the volatility reduce?

Anything will be possible as it is a free and open markets and I am personally expecting there would be 100s of stablecoins in coming days. But, their application on real world would be the question and I am not sure other than acting as a store of value, these coins are not providing any exciting feature from a common investor perspective.

How you are connecting stablecoins with volatility of crypto markets. I am not seeing any relevant to these two things as stablecoins has nothing to do against market volatility in my understanding. I like to learn more on this in the case that I am missing out so far.

april08

jr. member

Activity: 466

Merit: 5

For the industry to grow more, we really need more stable coins. Trust is necessary in business. Stability of more coins will boost the morale of the investors.

Pffrt

sr. member

Activity: 1372

Merit: 322

Quote from: jorenpo on March 24, 2019, 08:44:30 AM

why do we need more stable coin? at the first place cryptocurrency known because of its volatility. most of the investor invest because of it.

For a trader, stable coin is much needed because after all, profit is the only thing which is considered by a trader. Imagine, I have bought 1 BTC @$4k and current price is @$10k. I have $6k profit if I sell instantly but since BTC is highly volatile and not every country has btc/fiat optio,, we can alternately use stable coin to keep the profit. That's why stable coin is required but I think we have enough stable coin in the market and we don't need further.

n0ne

hero member

Activity: 2618

Merit: 548

DGbet.fun - Crypto Sportsbook

Corporate networks that fear of the technology might come forward creating their own stable coins. The present market has got more than enough stablecoins that meet the needs of the cryptocurrency users. Few of which were the USDT, TRUEUSD, Paxos, StableUSD and this goes on.

meldrio1

full member

Activity: 1358

Merit: 100

we don't need more stable coins we can not earn from it, traders can make money because of volatility of cryptos, we don't need more of that tether is enough.

Lumi3004

jr. member

Activity: 462

Merit: 2

Not the stability of the coin needed, the price of one of the most prominent coins in the main market, whether the coin is listed or how investors glance at the coin, this is the problem,
for now I think coins are stable on the market, of course, according to the development of cheap or expensive markets. But for now it's cheap and stable.

Topic: DO WE REALLY NEED MORE STABLE COINS? - page 14. (Read 17385 times)