Topic: Stable Coins are a Threat for Bitcoin? - page 2. (Read 2008 times)
Stablecoins were primarily created so that the big whales would park their wealth in there as and when they decide to short the Bitcoin market. This is what happened ever since Bitcoin futures and Tether were brought to the scene. They wrecked the little people and small traders by introducing stable coins. Now of course they are still a good hedge for the general instability and volatility of the market. Nexo for example give 8% a year APR annual interest given out daily for those who hold stablecoins in their NEXO wallet, so that is a stable income if say you have parked like 100k USD worth. You make a wage just by doing that, passive income.
how does a stable coin threaten bitcoin? I don't think bitcoin will be threatened with a lot of stable coins, instead stable coins make bitcoin bigger. A stable coin also makes it easy to trade bitcoin daily so that it attracts new traders.
Let's discuss the potential effects of stable coins which are bound to usd or eur. We usually use them to avoid the volatility or short bitcoin in a way. There are many stable coins in the last year. By writing threat, I didn't mean issues like tether's issue. I mean, they are not coins, they are just usd and eur.
I dont think Bitcoin has threat with any stable coin. Bitcoin is way difference from fiat.
Stable coins in my opinion are not investment coins, because they are said to have a fixed price and are only used to fix someone's portfolio price without adding or reducing the value of the price.
This has advantages and disadvantages. You should not expect profits by investing in stable coins. expect in special cases where dividends are given to the holders. may have no effect on bitcoin and I would not believe that stable coins would be a threat to bitcoin.
This has advantages and disadvantages. You should not expect profits by investing in stable coins. expect in special cases where dividends are given to the holders. may have no effect on bitcoin and I would not believe that stable coins would be a threat to bitcoin.
No, i don't think so. How are these stable cryptocurrencies a threat to bitcoin? Actually, they are a great hedge to most crypto enthusiasts in times of high market volatility. If you are much concerned about people using these stable currencies to make purchases instead of bitcoin then that ain't a problem either as they are also cryptocurrencies. On the other hand others still prefer using bitcoins to make transactions so it's kind of subjective, you can't tell the crypto people should use in making payments for goods.
Let's discuss the potential effects of stable coins which are bound to usd or eur. We usually use them to avoid the volatility or short bitcoin in a way. There are many stable coins in the last year. By writing threat, I didn't mean issues like tether's issue. I mean, they are not coins, they are just usd and eur.
First and foremost, stable coins are no threat to Bitcoin. Why will you ever think Stable coins are a threat to Bitcoin? People in the crypto space hardly use stable coins for their transactions online. Stable coins are basically used as a trading coin and do not have the qualities that can threating the existence of Bitcoin. You need to provide us with enough reasons why you think stable coins have good potential than Bitcoin. People will rather prefer to invest in crypto coins which are volatile than stable coins.
Stable coins are not used to short Bitcoin, but rather to give traditional investors that are used to more stable commodities a safe option to invest in Crypto currencies. A lot of the more traditional investors are not used to the crazy volatility of Bitcoin and are hesitant to invest in something with high volatility, so they opt for asset backed Stable coins. 
Most of the money invested in those coins are just converted back to fiat currencies, so it has no impact on the Bitcoin price. Tether might be a trading pair with Bitcoin in some way. 
This stable coin concept is something that most of crypto stakeholders aware that its threat is not to beat bitcoin popularity or even its functionality, as you said the stable coin vision is as a safe investment... i mean a traditional investors at some point looking for a place to custody their funds, they are looking for a place where you don't need to cash the money out but store it on a safe investment which at this point stable coin is the preferred one.Most of the money invested in those coins are just converted back to fiat currencies, so it has no impact on the Bitcoin price.
Tether might be a trading pair with Bitcoin in some way. The real threat about this stablecoin is that nobody knows whether the 1 USDT is really pegged to 1 USD ...
1 PAX, is it really pegged to 1 ounce gold?
Can they prove it all?
These market is surely manipulated to keep the price stable , let's see how long it will last. There's nothing to do with bitcoin.
Yes this can be a threat to Bitcoin in some ways like some users and actually country want this because for assurance of price that this stay like not volatile so no risk in that then example of that is Libra Coins like this can turn popular so this can turn much useful and helpful like many users will use this than Bitcoin like few users only will use this
Stable coins aren't still a threat for bitcoin because further development will be needed for stable coins to be on par with bitcoin. Not even those big altcoins like ethereum and litecoin can't beat bitcoin and these 2 coins are more likely to be more popular and powerful than any existing stable coins now on the market.
The word threat is understatement base on your point. I guess you should rephrase it by being a rival when it comes in mode of payment. However, that just constitutes your point.
And even not for years tho.
Personally, stablecoins are just a saver when taking profit. No more, no less.
Don't get me wrong; stablecoins are definitely useful; but I won't hold them for more than a few months.
And even not for years tho.
Personally, stablecoins are just a saver when taking profit. No more, no less.
I think stable coins are not a threat for Bitcoin. I can't wait for Facebook Libra to be listed on the market. It is a stable coin too and I believe Libra and Bitcoin will be very effective on a wide scale in the future.
Since bitcoin is inconsistent, any stable coin can really be a threat. A stable coil can be asked by a lot of people due to the assurance of value; unlike bitcoin, they can only offer high value but not consistency.
it is funny how people make up theories without checking any facts!
the relationship between stable coins and bitcoin is so little that it might as well not even exist. if you ignore the bitfinex (the creator and owner of the biggest stable coin) volumes you can see that practically zero. now if you check the volume of altcoins you can see the only usage it has is in altcoin trading.
so how can something that is only being used for altcoin trading even be threat to bitcoin?!!! it is like saying when Cryptsy or Bittrex scammed their users or when an ICO scammed they threatened bitcoin!!!
on top of that, people who choose bitcoin are choosing it because it is decentralized not because they need stable price.
the relationship between stable coins and bitcoin is so little that it might as well not even exist. if you ignore the bitfinex (the creator and owner of the biggest stable coin) volumes you can see that practically zero. now if you check the volume of altcoins you can see the only usage it has is in altcoin trading.
so how can something that is only being used for altcoin trading even be threat to bitcoin?!!! it is like saying when Cryptsy or Bittrex scammed their users or when an ICO scammed they threatened bitcoin!!!
on top of that, people who choose bitcoin are choosing it because it is decentralized not because they need stable price.
No I do not see them as a thread but as a boon for the crypto economy. Stable coins can do things that Bitcoin or most major altcoins cannot do. That is to take care of the day to day transaction of everyday people and to provide a stable vehicle for people to park their money in times of instability.
Think of it like, if Bitcoin is a Bus, Altcoins are the steering and stablecoins are the wheels. They are not a threat but a necessity for the bus to run.
Think of it like, if Bitcoin is a Bus, Altcoins are the steering and stablecoins are the wheels. They are not a threat but a necessity for the bus to run.
Not really, Bitcoin users use Bitcoin for special reasons
No worries. Those stable coins wont change in value. They will just be the same even if we talk about it forever.
Even with a great hype there wont be any changes.
Better calm down and just use them.
Somehow you could make profits out of it if done right. That is what they are for now. A scapegoat. Instead of doing it like before where we sell bitcoin for altcoin where there is a risk for the price to fall in just a manner of time.
Even with a great hype there wont be any changes.
Better calm down and just use them.
Somehow you could make profits out of it if done right. That is what they are for now. A scapegoat. Instead of doing it like before where we sell bitcoin for altcoin where there is a risk for the price to fall in just a manner of time.
I never thought stable coins would threaten the price or reputation of bitcoin on the market bitcoin is a guaranteed coin for me who is able to threaten the reputation and price of bitcoin is only negative news, if negative news comes the price of bitcoin will go down and if positive news comes the price of bitcoin will pump
how can stable coin be a threat to bitcoin when they don't even grow in price? the only reason why people patronize stable coins is because of the high volatility in market, if btc price was not fluctuate too much and a bit steady nobody will think of preserving their money in stable coin because you don't need it, stable coin are only there for one purpose only and that is not enough reason to be a threat.
Since there are unlimited usd printings, we may have plenty of stable coins in the environment. They may start to buy bitcoin with these centralized traditional money. So, we will probably have less Bitcoins in our hand because with these traditional money, the governments will have a lot of Bitcoin. This is a risk.
Stable coins are a threat but only in the eyes of the general public which is not familiar with cryptocurrencies. USDt and the rest of them aren't cryptocurrencies but they are calling themselves this way. An average person will not see the difference and when these "cryptos" become known as the quantitative easing of the bitcoin world the FUDding will begin. Bitcoin can't be weakened by money printing but when exchanges are trading Bitcoin for freshly printed stablecoins like they're dollars (which they are not, not even close) you'll literally selling your BTC for nothing.
I don't see stable coins as a threat for Bitcoin. Instead, I see stable coins can be alternatives for fiat money. Governments don't like volatile money. So, stable coins can be better than fiat money as a choice. As for Bitcoin, I think it will be one of the best payment methods for a very long time.
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