Stable Coins Necessary? - page 18. | Bitcointalksearch.org

Caladonian

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Quote from: ridertiger on November 05, 2018, 04:03:59 AM

I like stable coins, and here is the kicker. I think they are what will replace USD. Bitcoin, ethereum, eos etc. they all have their uses, but they can only be used like gold or used in apps, and I think you will be buying your pizza and coffee with stable coins, and not bitcoin, but you will buy stable coins with bitcoin.

Logically, if that will be introduce then it's more effective while working with crypto, stable coins can be the alternative inside crypto so instead of exchanging your btc or any crypto to fiat before buying goods stable coins can be do that as mediators, the concerned with that is since we are inside
volatile market how can it be possible and what would be the basis value of any stable coins just in case, as right now most of coins id not everyone are
still leaning with btc.

bitcoinm3ster

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Quote from: Trcream on November 05, 2018, 03:54:50 AM

Currently seems every project or crypto company wanna create a stable coin now, except USDT, currently we have GUSD, TUSD, PAX.

But do you think it's really necessary to have so many stable coins?

At the current time, I see Bitcoin is being the stablest coin in market Grin

. Just a little kidding, I think in the future, stable coins will have an important role in this market, it helps this market more stable and more reliable

a d i m u l

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everyone would want a stable altcoin, moreover, it could break through $ 1000 again. it's been too long, prices have dropped and stabilized at $ 200. when will this happen towards the increase ??

Shreek

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yes of course, as long as the coin is truly backed by FIAT, the public trust in the cryptocurrency will be even higher, especially the party that regulates the price flow is the official government, then it will make it easier for all citizens to buy and transact using cryptocurrency without having to fear rapid price changes

batang_bitcoin

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For stable coins, well its not that necessary to have many of it but, ask the same questions for altcoins.

Competition is tough and developers and companies who sees that they are better will create their own stable coin. IMO, the best right now are those that has a real backed up of USD like what coinbase and circle did, USDC.

charlie137

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Quote from: Reatim on November 05, 2018, 08:58:04 PM

I think their purpose is for investors to hedge their tokens or coins specially if a dramatic fall happens to the coins they hold. They can just leverage it and put their investments on stable coins and see how it goes. At least its sort of damage control for majority of us.

and then you would need to worry if your stablecoin really remains stable. why not just convert investment into fiat then?

Reatim

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I think their purpose is for investors to hedge their tokens or coins specially if a dramatic fall happens to the coins they hold. They can just leverage it and put their investments on stable coins and see how it goes. At least its sort of damage control for majority of us.

blackhawkeye1912

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Stable cryptocurrency coins are necessary for these coins to go mainstream adoption. It's very difficult to imagine using cryptocurrency in financial transaction such as in purchasing f these coins are not stable. Volatility is good at the start but to be able to use in everyday life transaction, it not good.

Rozita

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I do not call them cryptocurrency as they are controlled by third parties but creating stable coin was a good idea. Changing the cryptocurrencies to such stable coins is easier than changing them to dollar or other fiat currencies. But we don't need high number of them. Assume that this number is increasing day by day same as tokens. It will be very difficult to trust them. According to what happened to tether, we cannot easily trust them.

stablecoineuro

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Yes. There will probably be some consolidation down the road, where only some of the stablecoins currently in the market manage to gain/keep real significance. But for now the competition is good, because it pushes the projects to be as good as they can in terms of compliance, transparency, etc.

shark69

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of course, the cryptocurrency company will not want to lose and be abandoned by its investors. This should be thought of by some erc20 token projects, because from my conclusion they only sell for unilateral profits.
And in 2019 is the right moment to buy coins rather than tokens.

Karr98

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In my opinion stable coin is still needed for now because this can make people who invest at crypto can change their invest if the market is drop so they still trust to invest at crypto and stable coin is need for reduce coin that can br manipulated.But i think we only need just several coin not to many too

sherenikaw

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There may be only few stable coins right now that protect the investors and all token holders from the dropped market. However, it may makes some sense or makes some sides.The stable coins can allow us not to lose much money. However, can the stable coin survive? I mean that so far, I don't really find out the exact stable coins if seeing from the common market.

emezh10

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Quote from: Noobaru on November 05, 2018, 06:11:14 PM

I like to think that it is. Imagine the following example. You would like to move your assets from volatile cryptos into stablecoin. Are you going to use one or several that are at your disposal? In my opinion, it is good to spread around as much as you can. Because if you leave it in one stablecoin, well, that one can maybe crash. We all know what was happening with Tether lately. They were making them out of the blue (like printing paper money) and they they decided to destroy those Tethers. You never know, so it is better to play safe than sorry. Because all of them probably won't crash at the same time (that is very unlikely to happen) unless crypto goes extinct. Grin

Every investors would go for a stable coin as posted in the market, We know for a fact that market is very Volatile but even with the volatility of the market we can see the stable coins, price value may goes up and down , still it remains stable with, good fundamentals, market structure, high confidence by the consumers market. it is your good market research, market study that would help you out whether to invest or not on your choice coins, the nature of investment is to produce profit given the risk of possible lost in any eventuality.good luck, invest wisely.

makishart

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Quote from: siddartha1492 on November 05, 2018, 04:02:16 AM

Yes, why not. Stable coins protect investors from downward trend. You should have some % of your assets in stable coins. The reason for many stable coins is because you just can't trust 1 stable coin. If it fails then the results are catastrophic. For example USDT is losing its trust very fast. Devs aren't allowing external audits and so people are looking for other alternatives. This is where coins like GUSD, TUSD are coming in.

Do you think these new coins are allowing external audits? I doubt if they are allowing it right now. Most of them lack of transparency and they can't even prove how much reserve funds that available in their wallets. These stable coins needs more transparency. Other platform can only take the advantage from lack of transparent on tether company.

Noobaru

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I like to think that it is. Imagine the following example. You would like to move your assets from volatile cryptos into stablecoin. Are you going to use one or several that are at your disposal? In my opinion, it is good to spread around as much as you can. Because if you leave it in one stablecoin, well, that one can maybe crash. We all know what was happening with Tether lately. They were making them out of the blue (like printing paper money) and they they decided to destroy those Tethers. You never know, so it is better to play safe than sorry. Because all of them probably won't crash at the same time (that is very unlikely to happen) unless crypto goes extinct. Grin

JimmyNg90

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I think no need too much stable coins. Only a trustable stable coin is enough. In my opinion, trust is what makes this coin stabe. If we lose trust in this stable coin, it will no more stable. Like USDT a few days ago.

Rameshvijay45

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Yes it's necessary and it will helpful to those who are trading.

Ghebung Masam

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I don't think so and I personally prefer to exchange directly into fiat money, especially there are many local exchanges that support fiat as trading pairs in their exchanges.

ridertiger

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I like stable coins, and here is the kicker. I think they are what will replace USD. Bitcoin, ethereum, eos etc. they all have their uses, but they can only be used like gold or used in apps, and I think you will be buying your pizza and coffee with stable coins, and not bitcoin, but you will buy stable coins with bitcoin.

Topic: Stable Coins Necessary? - page 18. (Read 2979 times)