Stablecoins are the new money, is this true? - page 2.

@Hakermania@

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Quote from: cvan on February 21, 2019, 03:02:59 PM

A new report by cryptocurrency and blockchain advisor, George Samman, titled ‘The State of Stablecoins 2019,’ details the history of money and makes an argument for why stablecoins represent the natural evolution of where money will head next.

Here is the link to the article: https://bravenewcoin.com/insights/new-report-says-stablecoins-may-become-the-new-money

Are any of you invested in the projects mentioned in the article? I am pretty interested in Maker and Ampleforth tbh

Interesting article, I believe that virtual money will be the future .. thanks to the blockchain it is possible that a virtual object is as real as a physical object ...imho physical money will soon be obsolete

mv1986

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Quote from: L1240erion on February 28, 2019, 03:02:45 PM

I would say non-collateralized stable coins are NEW money. Fiat backed is still fiat. I find what Maker and Ampleforth doing really interesting. Difficult to grasp for new users but I think with time and the proper education people will appreciate what they're trying to achieve.

The issue is to create a scheme that allows for decentralized backing in a way that you don't have centralized reservers. You need to back a coin with something, or otherwise it must be air.

L1240erion

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I would say non-collateralized stable coins are NEW money. Fiat backed is still fiat. I find what Maker and Ampleforth doing really interesting. Difficult to grasp for new users but I think with time and the proper education people will appreciate what they're trying to achieve.

CarnagexD

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Quote from: Wildwest on February 27, 2019, 03:53:40 PM

any stable coin can never be money, because of its legality in the world and it's the same as other coins, which only distinguishes price stability

There is no stable coins in the first place if ever there would be it will be going senseless thing since there is already fiat currencies. I guess what you guys preferring on " stable coins" is a less volatile coin wherein its price does not move drastically. Nothing's really stable here on this kind of industry just so happen that there are market statuses that volatility rate goes down.

rose9696

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Because the electronic money market is now affirmed as a separate financial market and has a lot of support from many investors in countries around the world.
so a volatile market needs some stablecoins to make the market more perfect. That is also the reason why stablecoins become more important.

ivaf

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Cryptocurrencies provide fast, cheap, and borderless payments, but historically, this has come at the high user cost of extreme volatility. Stablecoins solve this problem and one can imagine that they may eventually be the dominant form of money globally.

crenfrosck

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Stablecoins are backed by a particular asset. If that asset is USD which is backed by empty promises, your stablecoin is probably not that stable. On the other hand, coins which represent reserves of gold or other rare metals/assets which can not be literally printed out of nowhere might become a basis of a whole new economical system. Technologies have come so far that we can cut off the government which does not like this scenario (unsurprisingly). I reccomend putting some money into serious coins and watch central planners burn in their own game Wink

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quarkyplum

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As I can see almost traders and investors often don't wanna invest their money in any stable coin only when a big dump is coming. But I think stable coins have very high chance to be the first coins legalized and used as currency to trade for everything because of its price is always stable at $1.

Wildwest

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any stable coin can never be money, because of its legality in the world and it's the same as other coins, which only distinguishes price stability

Hamphser

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Quote from: djkyno on February 27, 2019, 03:13:24 PM

I don't think so, because there is no real difference, in my view, between fiat currencies and stablecoins, regarding their prices. It is good to buy or hold them because their prices are stable usually, but it is not going to increase highly like the other volatile cryptocurrencies.
This feature will not encourage so many people to trade them.

Fiat and stable coins is never been stable.You do able to see that their prices isn't fixed they do move or changed but somehow it is only on smaller ranges but the thing here is that
Stablecoins is never be considered to be a new money.We might saw e-currency but not to these stable coins.They would just stick as they should be.

chocopapaya

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Stable coins are a very risky investment right now.
They are highly unregulated and audited.
In America, a stable coin is considered a security, yet so many exchanges use it even though it is not fully compliant.
The only one that I know that is legally operating is Gemini dollar.
So you run the very real risk of authorities stepping in the future and you losing your investment.

Also, a lot of these "stable" coins might not be stable at all.
Tether is the best example. They finally got around to auditing themselves but it was done by a company that has no legitimacy and the findings were dubious.
A lot of the other stable coins have never even done that.
So whether each coin is backed up by a real usd, well, you are just going to have to trust them.
And from what we've seen, can you say that most of the crypto world is scam free?

yingfeng

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I don't like Stablecoins. I do not understand how they are provided. I am not sure that Usdt will not be depreciated tomorrow.

andreibi

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Stablecoin is an ironic name. The peg is maintained by a central authority , which might also bend the rules. So basically you are trusting that your stablecoin can be redeemed.

cryptojac17

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Quote from: terrorJR on February 27, 2019, 02:45:16 PM

There is nothing stable in cryptocurrency, there must be a downturn, if you want to make money like money it's hard to understand

Yes there's no such stable coins like cryptocurrency, but if this money will turn to fast rising pump you will be able to enjoy the benefit it may bring to your life. If stablecoins will soar in the market, the demands will also be lifted up and bounce upward with only minimal conditions that it will fluctuate, but suddenly fall off from highest price.

No Pain No blood

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yes stable coin is new money. and it will be used as a global payment. Stable coins will eliminate the restrictions on FIAT.

djkyno

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I don't think so, because there is no real difference, in my view, between fiat currencies and stablecoins, regarding their prices. It is good to buy or hold them because their prices are stable usually, but it is not going to increase highly like the other volatile cryptocurrencies.
This feature will not encourage so many people to trade them.

AgentZero23

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Stable coins are part of crypto revolution and it will be become an important asset for security purposes. Stable coins are created because the crypto market is unstable. And many investors would like to trade their ether or btc to TUSD or USDC to avoid further loses. Stable coin will have an important role in crypto, but it will not have a massive adaption compared to btc, ether, xrp and others.

Buzhou

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That's what they want, but you call stablecoin from cryptocurrency is a lot of presumption!
Who said that Bitcoin's ambition is to be money? Whoever propagates this is an unfounded lie.
Because Bitcoin's ambition is simply to be Bitcoin and to provide endless possibilities in anything in life, that's Bitcoin!
Stablecoin is an initiatory way of putting at the head of the mass that Bitcoin is not the correct and true altenative.

JumperX

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Investing on stable coins are not the smart thought. They are concentrated and in the event that we picked up anything about incorporated undertakings, at some point or another they generally end up as a trick. It is commonsense to utilize those coins every once in a while particularly when you are moving between the trades however I wouldn't keep my life reserve funds in those coins.

takngantuk

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as long as they remain stable coins, I think that's possible. crypto currently needs something stable so that new investors want to invest in crypto. and in the future when crypto has been received by all countries, I'm sure stable coin will be used as payment. so it's only a matter of time for stable coins to become new money.

Topic: Stablecoins are the new money, is this true? - page 2. (Read 743 times)