Im big fan of stable coins and this is what I think - page 3.

justdimin

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Quote from: Webetcoins on February 15, 2021, 03:25:31 PM

I think it is not wise to use stuff like USDT, if you want fiat, go with fiat, if you want crypto, go with crypto, never trust your money with some stranger telling you that they have your money and will give it to you whenever you want, thats a shady business model from the start anyway.

Go fiat is easy to say but actually its not as easy. I mean you would have to transfer money to banks and then withdraw again when you want to buy Bitcoins. With USDT or any other stable coin you save a lot of time and transactions because you can immediately use them. I myself don't like the idea of holding a crypto which is centralized and the reserves are unknown but then there are other stable coins like Binance stable coin BUSD which I think the people who use Binance can trust. If you trust Binance as an exchange there is no problem trusting the stable coin they introduced.

Also forgot to mention there is a coinbase stable coin which has continuous audits and is way better than Tether in terms of legality and transparency so one can use it if trust and transparency is an issue.

Webetcoins

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Quote from: cryptoboss2020 on December 09, 2020, 11:11:37 AM

So the government will collect and mint stable coins like USDT USDC amd Other currencies like eur and gbp use it ethereum platform.

Next they will lend out the stable coins

And if we Buy Now or hold stable coins we will make good roi as we could lend out our stable coins too

I see this is coming ill hodle hard USDC.
So anyone could be the banker and lend others the stable coins who dont have them as world will go full in stable currencies

Proper reserve is a difficult question to answer for most of the satblecoin, how are they exactly backed, do they have billions of dollars on some bank account, do they have the paper for it on some vault? Do they have some digital numbers moving around from one place to another saying they are backed? Do they have bonds or gold or anything else worth that much? Do they have crypto that they bought with USDT which allowed them to be backed now but with a crash become not backed? There are a billion questions that could be asked about how they are backed even if they are backed.

Hence, I think it is not wise to use stuff like USDT, if you want fiat, go with fiat, if you want crypto, go with crypto, never trust your money with some stranger telling you that they have your money and will give it to you whenever you want, thats a shady business model from the start anyway.

lixer

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Quote from: nicecrypto on February 13, 2021, 04:54:28 AM

Quite frankly I don't think any government will mint any stable coin as the already existing stable coins are not from any government but from individual crypto projects and also thinking or having the idea of HODLing stable coins and making good ROI from them really don't make sense to me cos the little I know about using stable coins in crypto space is for you not to lose the value of your another crypto assets when the price is in a downward trend.

Well, there are some places that does pay you interest for your USDT or anything like that, which is really not that bad, I think it is quite good and I honestly think if you could find a way to make that more trustworthy, or get it from a place that is profitable, that could end up with a great amount of profit in the future for you.

I have invested a lot in them, I am a bit afraid because if it crashes that means I am going to lose all my money that I put aside, of course this is money I can afford to lose but I still think that I would rather not lose them Cheesy

.

However making money via crypto currency by putting dollars into something and making a huge return all thanks to system representing a ponzi like scheme where you do not lose money as long as people do not withdraw a lot is actually quite good. I do not think that people all would withdraw together and I think we are going to keep making this interest.

nicecrypto

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Quote from: cryptoboss2020 on December 09, 2020, 11:11:37 AM

So the government will collect and mint stable coins like USDT USDC amd Other currencies like eur and gbp use it ethereum platform.

Next they will lend out the stable coins

And if we Buy Now or hold stable coins we will make good roi as we could lend out our stable coins too

I see this is coming ill hodle hard USDC.
So anyone could be the banker and lend others the stable coins who dont have them as world will go full in stable currencies

Quite frankly I don't think any government will mint any stable coin as the already existing stable coins are not from any government but from individual crypto projects and also thinking or having the idea of HODLing stable coins and making good ROI from them really don't make sense to me cos the little I know about using stable coins in crypto space is for you not to lose the value of your another crypto assets when the price is in a downward trend.

Webetcoins

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Quote from: cryptoboss2020 on December 09, 2020, 11:11:37 AM

So the government will collect and mint stable coins like USDT USDC amd Other currencies like eur and gbp use it ethereum platform.

Next they will lend out the stable coins

And if we Buy Now or hold stable coins we will make good roi as we could lend out our stable coins too

I see this is coming ill hodle hard USDC.
So anyone could be the banker and lend others the stable coins who dont have them as world will go full in stable currencies

You’re a big fan of stable coins? That shows why you’re having this kind of thought that the government will abandon the fiat which is our conventional currency and start making use of stable coins by third parties, you’re not serious. If you simply said that stable coins will be a trend, then I would have agreed.

In case you don’t know ,if government wants to go into stable coins they will be creating their own stable coins and not making use of the ones by third parties. And moreover, stable coins don’t get you profit, it stays the same amount unless you lend it as you said.

cryptoboss2020

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Quote from: Shasha80 on February 11, 2021, 08:32:48 AM

I'm not a fan of stable coins, but I'm not a stable coins hater either. So I use stable coins only to store the profit I make from crypto trading.
So it is wrong if someone expects a profit from investing in stable coins. Because the stable coins price is pegged to USD which makes stable coins
cannot be used as an asset to generate profit. Therefore, many people save trading capital in stable coins, to avoid volatile markets.

I support what good for me!
If 2023 will be huge market crash then we know fiat currency value will go up.
If by then in USA have official currency USDT then its good to collect USDT now to smile later

Also there is predictions your USDT value will double in 4 years.
In economy crash even Gold all the risk assets will fall down.

Thats Why its good to be ready for USDT

Shasha80

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I'm not a fan of stable coins, but I'm not a stable coins hater either. So I use stable coins only to store the profit I make from crypto trading.
So it is wrong if someone expects a profit from investing in stable coins. Because the stable coins price is pegged to USD which makes stable coins
cannot be used as an asset to generate profit. Therefore, many people save trading capital in stable coins, to avoid volatile markets.

cryptoboss2020

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Quote from: SaShiRaJaVu on February 11, 2021, 08:15:17 AM

Quote from: Samayuki on February 10, 2021, 03:24:40 PM

It doesn't make sense because the government already have a plan to release their own CBDC, why would they put CBDC aside and allow USDT? I only use USDT to store some dollars that's the only use i have for the project, if you invest on USDT you aren't getting anything back, a stable coin is a stable coin

The OP always has insane theories as i have seen some of the threads he created Cheesy

. Might be he is confused with all these private stable coins and why would a government mint them when they can come up with their stable coin. Everyone use these stable coins just to hold our profit and i do not even trust to hold USDT for a much longer period because i do not trust them to hold my valuation for the long haul.

Well world is about business and profit.
The Private sector offers services to government.

SaShiRaJaVu

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Quote from: Samayuki on February 10, 2021, 03:24:40 PM

It doesn't make sense because the government already have a plan to release their own CBDC, why would they put CBDC aside and allow USDT? I only use USDT to store some dollars that's the only use i have for the project, if you invest on USDT you aren't getting anything back, a stable coin is a stable coin

The OP always has insane theories as i have seen some of the threads he created Cheesy

. Might be he is confused with all these private stable coins and why would a government mint them when they can come up with their stable coin. Everyone use these stable coins just to hold our profit and i do not even trust to hold USDT for a much longer period because i do not trust them to hold my valuation for the long haul.

Webetcoins

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Quote from: adzino on February 08, 2021, 01:40:46 PM

I don't think government will be using USDT or any other currently available stable coins. They highly likely will make their own stable currencies if they wish to go mainstream.

Definitely because they would never adopt something they cannot control and I even heard some countries are building their own crypto. Its not going to be worth much though because its like just digital money since the government controls it. I don't even understand why governments are jumping into crypto when earlier they were looking to ban it.

Quote from: VanDeinsberg12 on February 09, 2021, 01:49:52 AM

They surely have the resource to do so and could also align with their idea of preventing money laundering even in crypto. Not to mention creating ERC20 token is easy af if they don't want to create their own blockchain, that idea is not realistic at all.

But, why would someone use government made crypto if they are controlling it so hard and there is going to be no opportunity of growth because they are going to make stable-coins. Also the PoS rewards are going to be more like the standard interest we get from the banks.

AndySt

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Quote from: Samayuki on February 10, 2021, 03:24:40 PM

It doesn't make sense because the government already have a plan to release their own CBDC, why would they put CBDC aside and allow USDT? I only use USDT to store some dollars that's the only use i have for the project, if you invest on USDT you aren't getting anything back, a stable coin is a stable coin

If you start talking about investing, then you should immediately make a reservation that stablecoins, due to their binding to the exchange rate of fiat currencies, do not have anything to invest in. Also, you should immediately keep in mind that all stablecoins have no direct relationship to fiat currencies and no one can give any guarantee of the safety of funds, so if you want to increase your funds through cryptocurrencies, then stablecoins will not be able to help in any way.

Samayuki

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It doesn't make sense because the government already have a plan to release their own CBDC, why would they put CBDC aside and allow USDT? I only use USDT to store some dollars that's the only use i have for the project, if you invest on USDT you aren't getting anything back, a stable coin is a stable coin

vintages

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Quote from: thesmallgod on December 09, 2020, 12:25:48 PM

I am just curious to know where you get such believe that the government will mint stablecoin which we all know that stablecoin are being developed by individuals just like other crypto asset. And even if this is possible, how do you earn by holding stablecoin that has values that is pegged to USD. Maybe you think you will lend the government your coin and earn return in profit when you already stated that that can mint the stablecoin. In as much as i like stablecoin because it provide means through which we can minimize our lost when crypto market goes down. It also has it own cons since they are centralized asset which mean they can be subject to regulation easily which might even result on loss of asset in case it is being ban by the government

You said it all.
No matter how fancy it may look, purchasing or having any stable coin or even any cryptocurrency from the government is way too risky.
They have absolute control over it and one day you can just wake up and see they ban it. And there is nothing anyone can do. Also, I don't see anyone gaining from it, they will make sure the price remain insanely static.

suzanne5223

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Quote from: cryptoboss2020 on December 09, 2020, 11:11:37 AM

So the government will collect and mint stable coins like USDT USDC amd Other currencies like eur and gbp use it ethereum platform.

Next they will lend out the stable coins

And if we Buy Now or hold stable coins we will make good roi as we could lend out our stable coins too

This is an unacceptable investment decision because the government's aim was to regulated centralized stable coin and also create their own Central Bank Digital Currency why would they choose to collect and mint stablecoin which was not owned by the Fed?
The last time I checked, they will rather create their own centralized stablecoin coin than collecting USDT or USDC.

Quote from: jasonjm on February 10, 2021, 11:56:01 AM

Stable coin is called stable because it can not fluctuate with the market and if someone is looking to save there investment profit, they provide a very good option in digital form. Always use USDT or other stable coin as a trading pair.

That's totally wrong buddy, Stablecoins are not totally stable in price, they also fluctuate in price and the same thing goes to fiat currency when it devalues. I think people overestimated the concept of stablecoins, USDT is not better stablecoin and it better to choose stablecoin that are honest about their reserve funds.

jasonjm

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Stable coin is called stable because it can not fluctuate with the market and if someone is looking to save there investment profit, they provide a very good option in digital form. Always use USDT or other stable coin as a trading pair.

TedMosby

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so what's the point of having stablecoin? because stablecoin is a coin to represent the fiat in a stable way 1:1.
I only use stablecoin like USDT TRC20 to transfer my money from one exchange to another exchange market.
even if stablecoin is in high demand (for example, it can be used for lending service), it will be still 1:1 to its fiat representation.
CMIIW.

MCobian

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It's no coincidence that USDT is the third most popular coin until now, because indeed most people need stable coins. Therefore the demand for stable
coins is very high, because stable coins are not affected by the highly volatile crypto market. So it is very good to save the capital we have,
I like you, including the big fan of stable coins. Because it is very useful for stable coins for this cryptocurrency environment. But making stable coins
for investment is a wrong decision, because the price of stable coins that is too stable is very difficult to make profit. But stable coins can be used to
secure the profit we get from crypto trading.

Renampun

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a stablecoin is great for payment but not for investment IMO...
And yes, we are seeing changes continue, and also the interest in cryptocurrencies is increasing so it is very important for the government to make new rules about stablecoin. *stablecoins are a future payment alternative

kram31

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Quote from: cryptoboss2020 on December 09, 2020, 11:11:37 AM

So the government will collect and mint stable coins like USDT USDC amd Other currencies like eur and gbp use it ethereum platform.

Next they will lend out the stable coins

And if we Buy Now or hold stable coins we will make good roi as we could lend out our stable coins too

I see this is coming ill hodle hard USDC.
So anyone could be the banker and lend others the stable coins who dont have them as world will go full in stable currencies

This is your own opinion only dude, but just like what I had read in the other forums where we don't know what will happen tomorrow.
Your understanding about stable coins might be happen or maybe not. But so far Stable coin and digital currency are both giving profit
at the present time now, that's the truth now.

darewaller

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Quote from: whyrqa on February 08, 2021, 12:28:35 PM

so that who does not say, but stablecoins have always been in demand in the cryptocurrency market and helped users to minimize their losses during the fall in cryptocurrency rates. It is possible to compare the indicators of 2016, 2017 and 2018, when the cryptocurrency grew and fell very low, but stablecoins remained at their level and gave many cryptocurrency users the opportunity to preserve their capital.

That is the reason why there is massive trading volume for USDT in the market because people have found something to rely on during a swinging market and actually earlier we had to trade the BTC/ETH market because USDT was not there, now with the introduction of Tether or lets say stablecoins we get a good pair and some stability even in the highly volatile crypto market.

I remember years back once when BTC was falling down, I had to pay a 10% fees and convert my bitcoins into my fiat currency because I was afraid the price might go down even further by the next morning and this problem is now solved with the introduction of stable coins. I wish I had not sold my coins years back, feels bad everytime I think about it.

Topic: Im big fan of stable coins and this is what I think - page 3. (Read 1154 times)