do we really need stable coin? - page 7.

reliable

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Quote from: Kong Hey Pakboy on August 05, 2020, 11:59:33 PM

Stable coins are useful when we are experiencing a bear market because we can use it as a safe asset that it will help us to avoid and stop from getting our losses and protect our investments. Stable coins are also like fiat currency that is good for making transaction in online because it is fast and cheaper.

With the current market situation, it is good to have the top coins as those are the ones which are moving up quickly and bitcoin and ETH are the ones which should exist along with some other coins. Stable coins are fine, but the proper allocation balance should exist and again it depends upon user profile risk.

Francis Freeman

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If you are a trader who wants volatility you may think that stable coins aren't needed in crypto but for crypto to be used as a form of exchange for the broader audience we definitely need something less volatile which means that stable coins are an absolute must going forward.

Kong Hey Pakboy

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Stable coins are useful when we are experiencing a bear market because we can use it as a safe asset that it will help us to avoid and stop from getting our losses and protect our investments. Stable coins are also like fiat currency that is good for making transaction in online because it is fast and cheaper.

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Quote from: SistaFista on August 05, 2020, 09:43:51 PM

I think stable coin is very important in cryptocurrency because the volatility of cryptocurrency is very high.
If the volatility high, then many people may afraid to using it because the value keep changing.
Decentralized Finance project need stable coin too, as you can see many DeFi projects has been created.

Indeed. I think we still need a stable coin to save the money from the volatility, and I think many people use the stable coin because they don't want to see their asset in crypto will reduce too deep. The stable coin itself can help us to prevent the downtrend of the market which always happen every day, but we need to know how to use a stable coin, so we can still invest in the other coin.

Tomohisa

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Stabecoin is a must in a high and prone to volatile markets like cryptocurrency. Since the beginning, that was stablecoin's goal and so far, it filled the role as we have seen. Of course, it still has some flaws and downsize that make a number of crypto users don't trust it like you. To be fair, we just need to use it and care for nothing else.

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Stable coins have already been created, they are already there and will be with us until the end, nothing will change, I think it was necessary.

Can you explained why its necessary? I think stablecoins swarming the market already and their purpose has no difference with each other aside from the option people got a lot to choose from. But question is do we really need that many? I mean less than 10 stable coin is enough for everybody to use and drop those stablecoins that are not necessary needed. It will only divide the investors preference. If we focus on major ones maybe the marketcap can be easily boosted.

SistaFista

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I think stable coin is very important in cryptocurrency because the volatility of cryptocurrency is very high.
If the volatility high, then many people may afraid to using it because the value keep changing.
Decentralized Finance project need stable coin too, as you can see many DeFi projects has been created.

Priya Chowdhury

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Yes,I approve that stable coin.Stable coin investment so easy.Stable coin investment some risk but others coin investment fully risk.I support that stable coin.Stable coin investment many people.This coin like most people.This coin value so good.This coin investment interested crypto currency all people.This coin investment profit so good.So I there for stable coin always best coin for crypto currency.

RabbiTANK

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Sovryn - Brings DeFi to Bitcoin

Yes we need stable coins or something that can be used to peg USD/BTC for trading or just storing USD in the blockchain and stable coins like USDT works wonder, non traders might not know it's usefulness but traders does.

flagpara

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Quote from: Aqib Sarwar on August 02, 2020, 01:48:31 AM

think if we should look back in 4 years back in cryptocurrency industry, crypto do very well to be stable in the price value, but is very difficult this days to see crypto that's actually valueable, not until we started seen stable coins in the crypto market but there's no change in the value, Do you think we need stable coins?

Stable coin only trust, in any situation price should be the same as USD. Recently Binance also launched its own USD, already ranked 61 as coinmarketcap. You can't calculate your profits without stable coins when you are in hard trade. Market collapse time is always faster than selling your altcoins or top coins, as our different choice we trust different stable coins.

el kaka22

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What you guys are talking about could be stuff that you could invest with fiat anyway, if that was an option. Just because some exchanges do not want to deal with banks and so forth and do not give you that option, doesn't mean that stable coins are needed, it just means that you need those exchanges to allow fiat as well. If you could have fiat in there, it would be listed just like usdt or usdc whatever but instead of saying usdt, it will say usd instead and will be the real one.

Obviously you will be able to withdraw to your bank account as well. If you are worried that your altcoin investment would go down because bitcoin goes down, you should be capable of investing into that altcoin just like you can with usdt but instead of that you should be doing that with usd instead. So, it is not a "must" but something exchanges offers instead of the real thing.

pixie85

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Those who don't need stable coins are those who don't do any crypto trading, stable coin is a must if you want to trade and if you want to take advantage of the market situation, also stable coins are good for getting rid of crypto volatility

Think again. I never trade for stablecoins because they are fake substitutes of real currencies.

I used to trade a lot a few years ago and always chose fiat money.

Some of you are clueless about stablecoins, especially those who talk about investing in stablecoins or complain they don't bring much profit.

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Quote from: ohyeahhaha122 on August 02, 2020, 02:14:37 AM

stablecoins are really useful in this market that is always volatile, you can keep your assets safe at stablecoins, useful in buying and selling very large because their value is not lost, and traders need stablecoin.

Yes. We do need stable coins. The crypto market is crazily volatile and as such, stable coins are needed to protect investment when there's a fall on the exchanges. When investors dump and you're uninformed, you'll end up with loses.

I believe they are a response to bitcoins volatility and it's this easy to exchange to usdt or BUSD depending on which exchange byou trade with. However, the stable coins are becoming much and you're almost undecided on which to have. It's major advantage is that you get the dollar value no matter drop or dump.

New_order

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Stable coins are the perfect tools for trading crypto on top exchanges, you can use stable coin to fixed your USD or coins to avoid volatility or dump in value, if you are worried about security use decentralized stable coin like DAI but stay away from Centralized stable coins

Cocoincos

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of course we need, stable coins existing for traders! how you think traders fixing their funds?? also BTC and ETH is too much unstable to hold money in them!

MainIbem

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Quote from: Aqib Sarwar on August 02, 2020, 01:48:31 AM

Do you think we need stable coins?

For as much as cryptocurrency is concerned, everything is still evolving. The concept of stable coin is actually a response to the volatility of Bitcoin and other decentralized currencies. Due to the volatility and to get much people to adopt the new money, the concept of stable coin was muted. So at the prevailing circumstance, they are very necessary. However, if there had not been the volatility, there would not have been a need for stable coins. And note that the volatility is a intrinsic part of decentralized cryptocurrencies and therefore it will not go away.

Eddyc

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We need all possible varieties for the crypto but the problem is that when a new possibility arises, there is a copy sequence later. So some stable currencies help in transactions and changes in values for some exchanges or some moment of appreciation and maybe some fall. So to conclude we don't need large quantities of stable currency project.

JungleOnion

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I do think it is a good asset to protect your investments and portfolio's value against volatility. Stablecoins can also work much better for DeFi products as well as for current banks so I think they are good for the transition that needs to take place from a centralize model to fully decentralize model which I think it could take some decades to fully become decentralize.

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Quote from: Teraboy on August 02, 2020, 02:18:59 AM

Quote from: ohyeahhaha122 on August 02, 2020, 02:14:37 AM

stablecoins are really useful in this market that is always volatile, you can keep your assets safe at stablecoins, useful in buying and selling very large because their value is not lost, and traders need stablecoin.

The stable coin can be a very good option for those who wanna try to avoid the volatility, stable coin can also be used as a stable payment system too that the merchant will not feel worry about the possibility to get a loses due to the volatility.

Aside from that, it is also good for fast transfer from one exchange to another unlike using fiat currency which can take a day or two depending on what portal we use. So at least this is an advantage of the stable coin over fiat currency, but aside from that, I don't see any reason why we need stable coin since it is so much better to convert BTC to back fiat cash than stablecoin.

Leo

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Stable coins are highly needed, without stable coins I don't think that there will be a lot of investors in crypto space as we have currently, because the volatility in crypto is high and lots of people will suffer huge losses when there is no where to hedge to

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