Topic: Stablecoin for bitcoin - page 3. (Read 312 times)
I don't have a problem in the current fiat and bitcoin context, firstly we don't have enough information to agree on a fiat currency, and it is understandable for bitcoin to increase in value compared to fiat, such a means. suitable for the current context, just as we then use fiat for other consumption purposes in life. I'm not sure when will people be able to have clear and fair standards everywhere in the world, like how much satoshi can be paid for a lollipops.
I don't think it's about the network. What OP needs is something stablecoin that is based on Bitcoin or it is pegged just like USDT which is 1:1 pegged with the US dollar.
For me, if you want a stablecoin that it must be pegged 1:1 from the original currency. Which for me that's the common issue of stablecoins we have now, some got some issue with transparency like it's not 100% backed by the currency.
Oh my bad. Its quite hard to trust those stablecoin and we dont sure if they are really pegged to the currency itself. There are many cases like stablecoins have been depegged on theit value. If based on Bitcoin then its gonna be much harder I think.For me, if you want a stablecoin that it must be pegged 1:1 from the original currency. Which for me that's the common issue of stablecoins we have now, some got some issue with transparency like it's not 100% backed by the currency.
Any stable out there that close to what OP might suggesting?
You mean like usdt on ethereum network?
(....)
I don't think it's about the network. What OP needs is something stablecoin that is based on Bitcoin or it is pegged just like USDT which is 1:1 pegged with the US dollar.(....)
For me, if you want a stablecoin that it must be pegged 1:1 from the original currency. Which for me that's the common issue of stablecoins we have now, some got some issue with transparency like it's not 100% backed by the currency.
We don’t need a specific stablecoin for only use with bitcoin. To create a new one or rely on a centralised group to create a new one is a bad idea. We already have Tether which has a longstanding reputation as very trustworthy. If we really like to use stablecoins then there is no better than USDT.
You mean like usdt on ethereum network? But bitcoin isnt a smart contract type of crypto so it would not be a good idea to have a stablecoin for it or cant alone. Why theres need a stablecoin for bitcoin? We could use usdt or usdc or even fiat itself to trade bitcoin and vice versa.
So many stablecoins out there and people might not adapt to each and every stables been utilizing.
So many stablecoins out there and people might not adapt to each and every stables been utilizing.
I see in this forum that many disagree with the concept of fiat money. But if we look at the price of bitcoin, most people like it when the price of bitcoin goes up. This means bitcoin is inseparable and independent as a currency without considering fiat dollars. At this point, bitcoin is considered an asset
With so many stablecoins for fiat dollars, bitcoin cannot break away from dollars. Maybe if you want to support bitcoin more and have bitcoin as the main base, is it possible to create a stablecoin for bitcoin?
I haven't seen a stablecoin project for bitcoin yet. Maybe if there was a stablecoin for bitcoin then bitcoin would be considered the main currency in crypto and the price would be considered stable
Suppose there is a stablecoin called Bitcash. Bitcash will always be valued the same as bitcoin.
For example:
With so many stablecoins for fiat dollars, bitcoin cannot break away from dollars. Maybe if you want to support bitcoin more and have bitcoin as the main base, is it possible to create a stablecoin for bitcoin?
I haven't seen a stablecoin project for bitcoin yet. Maybe if there was a stablecoin for bitcoin then bitcoin would be considered the main currency in crypto and the price would be considered stable
Suppose there is a stablecoin called Bitcash. Bitcash will always be valued the same as bitcoin.
For example:
Code:
1 Bitcoin = 100.000 Bitcash
There are several stablecoins out there now most of them are pegged to the US Dollar, others are pegged to the Euro. That being said, of course it is possible to create another stablecoin, that is pegged to something else too like gold or something like the total market cap of the whole crypto market. Everything is possible.
I don't really know though what the benefit of a stablecoin that is pegged to bitcoin would really be. The value of this coin would never be stable because bitcoin is still doing pretty big price moves every day. So it would not be a smart move to have a lot of bitcoin-stables laying around for a longer time. Also i don't think it would be good for the bitcoin price too, if bitcoin itself would not be used anymore for purchases.
I think the stability of any coin is relative. In order to be stable, a coin should be widely adopted. Its adoption should be comparable to fiat currencies like USD. Only in this case it could become stable from everyone perspective. In this scenario, it could be used as an etalon for the assessment of other coin stability.
Creating a stable coin for an unstable coin (BTC)? I can't think of how something like that could have happened. Logically, how do people buy Bitcoincash? Are you using BTC or dollars? If using dollars, then what is the price of Bitcoincash when the price of Bitcoin goes up or down? Ultimately Bitcoincash is a flawed system in my opinion.
If I am reading this correctly and I might be wrong here but you basically want an algorithmic stablecoin
Backed by Bitcoin itself correct? Well guess what? We had this in the past.
It was called Luna and the stablecoin was UST. And it’s worthless now. Why? Because it’s not a good idea for a volatile asset like Bitcoin to ever be pegged to an asset which is suppose to be stable. Hence why Luna crashed when the bear market started to get more and more intense.
Backed by Bitcoin itself correct? Well guess what? We had this in the past.
It was called Luna and the stablecoin was UST. And it’s worthless now. Why? Because it’s not a good idea for a volatile asset like Bitcoin to ever be pegged to an asset which is suppose to be stable. Hence why Luna crashed when the bear market started to get more and more intense.
I see in this forum that many disagree with the concept of fiat money. But if we look at the price of bitcoin, most people like it when the price of bitcoin goes up. This means bitcoin is inseparable and independent as a currency without considering fiat dollars. At this point, bitcoin is considered an asset
Do the world need a Gold stable coin to consider Gold as an asset?Quote
With so many stablecoins for fiat dollars, bitcoin cannot break away from dollars.
You will need a good treasury to maintain a peg for a stable coin. We don't know how stable coin companies do that, trust them with risk.Quote
Maybe if you want to support bitcoin more and have bitcoin as the main base, is it possible to create a stablecoin for bitcoin?
Stable coin is a type of altcoin and we don't need an altcoin to make Bitcoin better.Quote
I haven't seen a stablecoin project for bitcoin yet. Maybe if there was a stablecoin for bitcoin then bitcoin would be considered the main currency in crypto and the price would be considered stable
Only makes more fud against Bitcoin if those stable coins de-peg.Quote
Suppose there is a stablecoin called Bitcash. Bitcash will always be valued the same as bitcoin.
Bitcash sounds like Bitcoin Cash, a scam altcoin from Roger Ver.I disagree with your idea and with the name.
I see in this forum that many disagree with the concept of fiat money. But if we look at the price of bitcoin, most people like it when the price of bitcoin goes up. This means bitcoin is inseparable and independent as a currency without considering fiat dollars. At this point, bitcoin is considered an asset
With so many stablecoins for fiat dollars, bitcoin cannot break away from dollars. Maybe if you want to support bitcoin more and have bitcoin as the main base, is it possible to create a stablecoin for bitcoin?
I haven't seen a stablecoin project for bitcoin yet. Maybe if there was a stablecoin for bitcoin then bitcoin would be considered the main currency in crypto and the price would be considered stable
Suppose there is a stablecoin called Bitcash. Bitcash will always be valued the same as bitcoin.
For example:
With so many stablecoins for fiat dollars, bitcoin cannot break away from dollars. Maybe if you want to support bitcoin more and have bitcoin as the main base, is it possible to create a stablecoin for bitcoin?
I haven't seen a stablecoin project for bitcoin yet. Maybe if there was a stablecoin for bitcoin then bitcoin would be considered the main currency in crypto and the price would be considered stable
Suppose there is a stablecoin called Bitcash. Bitcash will always be valued the same as bitcoin.
For example:
Code:
1 Bitcoin = 100.000 Bitcash
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