Topic: Stable Coins Necessary? - page 3. (Read 2979 times)
I strongly believe they are necessary. Crypto is aiming to replace fiat and as such, it needs a coin/coins that can maintain a reasonable level of stability at all times. Being that crypto is highly volatile, the need for stability in value for exchange and usage cannot be overemphasised. This is exactly where the world needs a stable coin/coins to step up and act while maintaining the full balance of cryptocurrencies.
I think the current approach (tethering) of stable coin is silly. The stable coin for USD is USD itself. USD is also digitized and available electronically. We don't need another digital version of it created by a bank. The stability problem with crypto currency like Bitcoin is its deflationary paradox. If we remove that condition, we'll have a coin that behaves like USD.
I think also are needed some stable coins on market, because maybe someone want to buy some coins at a price and they hold money on stable coins and maybe they can manage more easy and when traders want to buy.
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.
According to you, that stable currency might be Bitcoin. Because I see Bitcoin as the most popular used and in the future it is most likely the most popular coin, becoming the most unique currency in the market
Yes it's necessary and it will helpful to those who are trading.
I agree with you about that, and in the future it is very likely that the coin has been stabilized in a necessary way, but it has also boomed to create a new era for today's popular altcoin, maybe
Stable coins are very necessary especially for traders, if you are into trading it will be easier to change coins to fiat using stable coins and when price drops use the stable coin to buy back and you will get more quantity coins
Yes right, this is to ensure or lock in prices, the stable presence of coins certainly makes investors not hesitate to place their money, the most important is a guarantee from devs. so it's not a scam.
Stable Coins have certain advantages! Guaranteed value of property! while exchanging!
Stable coins are very necessary especially for traders, if you are into trading it will be easier to change coins to fiat using stable coins and when price drops use the stable coin to buy back and you will get more quantity coins
Stable tokens or coins contribute a lot to trading because they work like a security island. This is a very cool tool for the development of the entire cryptocurrency trading community. But this cannot go on forever.
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?
As everyone goes crypto, I think the need to have stable currencies is becoming a necessity, this is because many times people can spend their money to USDT or Tether that are normally trusted, now there is a series of conditions that have to do with mixtures and not just USD, This suggests that more stable currencies will not be in sight as is tether, other currencies will not be taken into account in the face of a possible massive crash of cryptocurrencies, which , for stable currencies will be an easy resource for refuge from monetary resources that are not so linked to bitcoin.
yes, but not bitcoin or etherum, because both coins are coins that have the highest value and are worth the investment. be a coin with a lower price if you want to be stable and really can be used as a transaction, for example ripple or xlm.
I think that quite a few stable and promising coins in the world of cryptocurrency are enough. And all the others just to remove from the market so as not to interfere.
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?
in my own observataions there are lots of trading pairs with stable coins, well for me at some.point it protect the investors from possible losses but if we hold this coins, we could not expect that we can gain a profit from.holdinh it.
Well stable coin is needed but not that many
We have like so much stable coins now
The main purpose is actually for hedging imo, just because it can be traded on exchange unlike Fiat to crypto it takes time regardless if its OTC or etc
We have like so much stable coins now
The main purpose is actually for hedging imo, just because it can be traded on exchange unlike Fiat to crypto it takes time regardless if its OTC or etc
I adhere to the thought that it is better to have several stable coins than more than two thousand unstable ones. Coins should not be so much.
Currency stability gives confidence to investors and this is very important in such a market
But there are two points to consider
- Stability means there are no significant trading opportunities
- Will these companies allow external auditing?
We, at STASIS focus on transparency of the reserves and providing with weekly verification and quarterly audits from a top five audit company for our euro reserves: https://stasis.net/transparency/
I adhere to the thought that it is better to have several stable coins than more than two thousand unstable ones. Coins should not be so much.
Currency stability gives confidence to investors and this is very important in such a market
But there are two points to consider
- Stability means there are no significant trading opportunities
- Will these companies allow external auditing?
We don't need too many stable coins no more, except the lines with backing products.
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Stable coins are liked by merchants and they are important for mass adoption of crypto.
How many of them we need the market will decide.
Though stablecoin is proven to be useful when it comes to saving your money however it seems that as of now there's no real adoption for stablecoin because as you can see the almost inexistent volatility could help some merchants that are afraid of volatility to be more confident in adopting blockchain based currency but now there's NONE, That's kinda strange, just really hope stablecoin could push its adoption. How many of them we need the market will decide.
Stable coins are liked by merchants and they are important for mass adoption of crypto.
How many of them we need the market will decide.
How many of them we need the market will decide.
What euro stablecoins would you recommend? Do you know any other beside EURS?
EURS is the only reliable euro stablecoin I know. I think investors from Europe have only this option. They've received recently their audit from BDO by the way https://stasis.net/transparency/
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