Topic: Stablecoins may help cryptocurrencies achieve world domination... (Read 113 times)
In a way, they will. The thing is that with cryptocurrencies being so volatile people are having a hard time using the coins as a currency and that is one thing that goes against everything that cryptocurrencies were meant to be used for. With stable coins, there is actually hope that the coins will always retain the same value there by making them useful currencies
October 01, 2018, 06:17:56 PM
It's both ways, stable coin will help people build trust in Crypto, no one is happy to see his/her investment go down 80% in just 2 to 3 days, stable coins can help protect this, while on the other hand it's not so good for the profit oriented people.
October 01, 2018, 06:15:17 PM
I don't agree with you. I think stable coins are useless. We can trade if let us with fiat! OK stables are quite simple and has some advantages. But absouletly they are not indispensable.
They are indeed useless, we do not need them. f*ck stablecoins
they are NOT useless but they are not as good as some people think they are. if they were useless then volume of altcoins such as Tether (USDT) wouldn't have been this high. so there is a use case for them and a demand that they do exist.
but they are still terrible and do not belong in this world because they are centralized! at least so far all the stable coins that I have seen have been suffering from the same issues of centralization which is in defiance of this ecosystem which was built with decentralization in mind.
basically suing these coins means we took the power from banks then gave it up to another centralized company!
October 01, 2018, 06:14:03 PM
Will cryptocurrencies ever become much more than speculative assets? If they do, the key will be a new kind of digital coin that is engineered to maintain a steady price. At least, that’s what a growing number of developers in the crypto world seem to believe.
We’re in the midst of a “Cambrian explosion” of such projects, says Garrick Hileman, head of research at Blockchain, a cryptocurrency services firm. According to a survey Hileman published this week, the number of what are called stablecoins has grown from a just a handful to nearly 60 in the past 18 months, and more than a dozen more are expected to launch in the near future. Hileman says the stablecoin rush speaks to a growing understanding that the volatility of cryptocurrencies like Bitcoin and Ethereum “is going to pose a problem” for some of the most sought-after blockchain applications, like payments, lending, and insurance. And he says it reflects the hypothesis that nonvolatile digital coins can form an “infrastructure layer” that could vastly expand cryptocurrencies’ global user base.
This piece first appeared in our twice-weekly newsletter, Chain Letter, which covers the world of blockchain and crypto-assets. Sign up here—it’s free!
Cryptocurrency often gets cast as a new form of money that will benefit people who don’t have access to a bank account or a stable national currency. Another popular prediction among enthusiasts is that smart contracts, blockchain-stored computer programs that automatically move cryptocurrency between users according to agreed-upon conditions, will revolutionize the way we do business online.
But payment applications have so far failed to gain much traction, and a fair amount of last year’s exuberance about the future of smart-contract-powered decentralized applications—dapps, if you prefer—has been replaced by uncertainty over whether Ethereum and similar platforms can live up to the hype. Ethereum and other currencies have swung wildly in price, and that could well be one factor crypto-payment-based applications haven’t seen wider adoption.
If the goal is to expand the user base, though, it’s important to be clear about what we mean by “stablecoin.” The term can be used to refer to a few very different concepts. Tether, a popular stablecoin that is supposedly backed by US dollars in a bank account, has been around for years. A useful tool for traders wanting to safely park their gains in other cryptocurrency investments without having to convert back into fiat money, Tether has inspired a number of copycats.
According to Hileman’s report, nearly 60% of the $350 million that venture capitalists have invested in stablecoin projects has gone toward approaches that don’t rely on banks and thus promise to be more decentralized and accessible. Some use cryptocurrency instead of fiat money as collateral, relying on smart contracts to manage the collateral’s volatility. But most of this funding has backed yet-to-launch coins commonly described as “algorithmic central banks.” Such a coin wouldn’t use collateral at all, and would instead use software to increase and decrease its supply in order to maintain its price.
Critics doubt that these more complicated stablecoins can hold their pegs in the long run. The systems also raise complicated new legal questions, especially given that many rely on an element of market manipulation to maintain price stability, says Hileman. “It is very early days, not just on the technology side but on the regulatory side,” he says. “Trying to make too many predictions about where this will wind up is hazardous at this stage.”
source: https://www.technologyreview.com/s/612207/stablecoins-will-help-cryptocurrencies-achieve-world-dominationif-they-actually-work/
We’re in the midst of a “Cambrian explosion” of such projects, says Garrick Hileman, head of research at Blockchain, a cryptocurrency services firm. According to a survey Hileman published this week, the number of what are called stablecoins has grown from a just a handful to nearly 60 in the past 18 months, and more than a dozen more are expected to launch in the near future. Hileman says the stablecoin rush speaks to a growing understanding that the volatility of cryptocurrencies like Bitcoin and Ethereum “is going to pose a problem” for some of the most sought-after blockchain applications, like payments, lending, and insurance. And he says it reflects the hypothesis that nonvolatile digital coins can form an “infrastructure layer” that could vastly expand cryptocurrencies’ global user base.
This piece first appeared in our twice-weekly newsletter, Chain Letter, which covers the world of blockchain and crypto-assets. Sign up here—it’s free!
Cryptocurrency often gets cast as a new form of money that will benefit people who don’t have access to a bank account or a stable national currency. Another popular prediction among enthusiasts is that smart contracts, blockchain-stored computer programs that automatically move cryptocurrency between users according to agreed-upon conditions, will revolutionize the way we do business online.
But payment applications have so far failed to gain much traction, and a fair amount of last year’s exuberance about the future of smart-contract-powered decentralized applications—dapps, if you prefer—has been replaced by uncertainty over whether Ethereum and similar platforms can live up to the hype. Ethereum and other currencies have swung wildly in price, and that could well be one factor crypto-payment-based applications haven’t seen wider adoption.
If the goal is to expand the user base, though, it’s important to be clear about what we mean by “stablecoin.” The term can be used to refer to a few very different concepts. Tether, a popular stablecoin that is supposedly backed by US dollars in a bank account, has been around for years. A useful tool for traders wanting to safely park their gains in other cryptocurrency investments without having to convert back into fiat money, Tether has inspired a number of copycats.
According to Hileman’s report, nearly 60% of the $350 million that venture capitalists have invested in stablecoin projects has gone toward approaches that don’t rely on banks and thus promise to be more decentralized and accessible. Some use cryptocurrency instead of fiat money as collateral, relying on smart contracts to manage the collateral’s volatility. But most of this funding has backed yet-to-launch coins commonly described as “algorithmic central banks.” Such a coin wouldn’t use collateral at all, and would instead use software to increase and decrease its supply in order to maintain its price.
Critics doubt that these more complicated stablecoins can hold their pegs in the long run. The systems also raise complicated new legal questions, especially given that many rely on an element of market manipulation to maintain price stability, says Hileman. “It is very early days, not just on the technology side but on the regulatory side,” he says. “Trying to make too many predictions about where this will wind up is hazardous at this stage.”
source: https://www.technologyreview.com/s/612207/stablecoins-will-help-cryptocurrencies-achieve-world-dominationif-they-actually-work/
As for me stable coins Might work but there are still probability of different results and outcome.
Stable coin for me can be worth ot but we or I still See bitcoin a good investment even as you that is was not still stable today.
October 01, 2018, 05:59:09 PM
There is no week without a stable coin appearing. This week Paxos is the one and it is already on Binance.
Stable coins will play an important role in mass adoption of crypto as retailers are not willingly accepting high
volatile coins as payment .
Stable coins will play an important role in mass adoption of crypto as retailers are not willingly accepting high
volatile coins as payment .
October 01, 2018, 09:46:14 AM
No I am not agree with it. market ups and downs makes investors interest in it.If it become stable than it will disappear it.
September 28, 2018, 08:45:12 AM
Apparently not. I think that coins that go down, makes way for a downside of it and might be a brink that might give that coin a big pump.
September 28, 2018, 08:41:41 AM
I don't agree with you. I think stable coins are useless. We can trade if let us with fiat! OK stables are quite simple and has some advantages. But absouletly they are not indispensable.
They are indeed useless, we do not need them. f*ck stablecoins
they are NOT useless but they are not as good as some people think they are. if they were useless then volume of altcoins such as Tether (USDT) wouldn't have been this high. so there is a use case for them and a demand that they do exist.
but they are still terrible and do not belong in this world because they are centralized! at least so far all the stable coins that I have seen have been suffering from the same issues of centralization which is in defiance of this ecosystem which was built with decentralization in mind.
basically suing these coins means we took the power from banks then gave it up to another centralized company!
September 28, 2018, 08:32:54 AM
I don't agree with you. I think stable coins are useless. We can trade if let us with fiat! OK stables are quite simple and has some advantages. But absouletly they are not indispensable.
They are indeed useless, we do not need them. f*ck stablecoins
September 28, 2018, 08:26:50 AM
I don't agree with you. I think stable coins are useless. We can trade if let us with fiat! OK stables are quite simple and has some advantages. But absouletly they are not indispensable.
September 28, 2018, 08:17:11 AM
Will cryptocurrencies ever become much more than speculative assets? If they do, the key will be a new kind of digital coin that is engineered to maintain a steady price. At least, that’s what a growing number of developers in the crypto world seem to believe.
We’re in the midst of a “Cambrian explosion” of such projects, says Garrick Hileman, head of research at Blockchain, a cryptocurrency services firm. According to a survey Hileman published this week, the number of what are called stablecoins has grown from a just a handful to nearly 60 in the past 18 months, and more than a dozen more are expected to launch in the near future. Hileman says the stablecoin rush speaks to a growing understanding that the volatility of cryptocurrencies like Bitcoin and Ethereum “is going to pose a problem” for some of the most sought-after blockchain applications, like payments, lending, and insurance. And he says it reflects the hypothesis that nonvolatile digital coins can form an “infrastructure layer” that could vastly expand cryptocurrencies’ global user base.
This piece first appeared in our twice-weekly newsletter, Chain Letter, which covers the world of blockchain and crypto-assets. Sign up here—it’s free!
Cryptocurrency often gets cast as a new form of money that will benefit people who don’t have access to a bank account or a stable national currency. Another popular prediction among enthusiasts is that smart contracts, blockchain-stored computer programs that automatically move cryptocurrency between users according to agreed-upon conditions, will revolutionize the way we do business online.
But payment applications have so far failed to gain much traction, and a fair amount of last year’s exuberance about the future of smart-contract-powered decentralized applications—dapps, if you prefer—has been replaced by uncertainty over whether Ethereum and similar platforms can live up to the hype. Ethereum and other currencies have swung wildly in price, and that could well be one factor crypto-payment-based applications haven’t seen wider adoption.
If the goal is to expand the user base, though, it’s important to be clear about what we mean by “stablecoin.” The term can be used to refer to a few very different concepts. Tether, a popular stablecoin that is supposedly backed by US dollars in a bank account, has been around for years. A useful tool for traders wanting to safely park their gains in other cryptocurrency investments without having to convert back into fiat money, Tether has inspired a number of copycats.
According to Hileman’s report, nearly 60% of the $350 million that venture capitalists have invested in stablecoin projects has gone toward approaches that don’t rely on banks and thus promise to be more decentralized and accessible. Some use cryptocurrency instead of fiat money as collateral, relying on smart contracts to manage the collateral’s volatility. But most of this funding has backed yet-to-launch coins commonly described as “algorithmic central banks.” Such a coin wouldn’t use collateral at all, and would instead use software to increase and decrease its supply in order to maintain its price.
Critics doubt that these more complicated stablecoins can hold their pegs in the long run. The systems also raise complicated new legal questions, especially given that many rely on an element of market manipulation to maintain price stability, says Hileman. “It is very early days, not just on the technology side but on the regulatory side,” he says. “Trying to make too many predictions about where this will wind up is hazardous at this stage.”
source: https://www.technologyreview.com/s/612207/stablecoins-will-help-cryptocurrencies-achieve-world-dominationif-they-actually-work/
We’re in the midst of a “Cambrian explosion” of such projects, says Garrick Hileman, head of research at Blockchain, a cryptocurrency services firm. According to a survey Hileman published this week, the number of what are called stablecoins has grown from a just a handful to nearly 60 in the past 18 months, and more than a dozen more are expected to launch in the near future. Hileman says the stablecoin rush speaks to a growing understanding that the volatility of cryptocurrencies like Bitcoin and Ethereum “is going to pose a problem” for some of the most sought-after blockchain applications, like payments, lending, and insurance. And he says it reflects the hypothesis that nonvolatile digital coins can form an “infrastructure layer” that could vastly expand cryptocurrencies’ global user base.
This piece first appeared in our twice-weekly newsletter, Chain Letter, which covers the world of blockchain and crypto-assets. Sign up here—it’s free!
Cryptocurrency often gets cast as a new form of money that will benefit people who don’t have access to a bank account or a stable national currency. Another popular prediction among enthusiasts is that smart contracts, blockchain-stored computer programs that automatically move cryptocurrency between users according to agreed-upon conditions, will revolutionize the way we do business online.
But payment applications have so far failed to gain much traction, and a fair amount of last year’s exuberance about the future of smart-contract-powered decentralized applications—dapps, if you prefer—has been replaced by uncertainty over whether Ethereum and similar platforms can live up to the hype. Ethereum and other currencies have swung wildly in price, and that could well be one factor crypto-payment-based applications haven’t seen wider adoption.
If the goal is to expand the user base, though, it’s important to be clear about what we mean by “stablecoin.” The term can be used to refer to a few very different concepts. Tether, a popular stablecoin that is supposedly backed by US dollars in a bank account, has been around for years. A useful tool for traders wanting to safely park their gains in other cryptocurrency investments without having to convert back into fiat money, Tether has inspired a number of copycats.
According to Hileman’s report, nearly 60% of the $350 million that venture capitalists have invested in stablecoin projects has gone toward approaches that don’t rely on banks and thus promise to be more decentralized and accessible. Some use cryptocurrency instead of fiat money as collateral, relying on smart contracts to manage the collateral’s volatility. But most of this funding has backed yet-to-launch coins commonly described as “algorithmic central banks.” Such a coin wouldn’t use collateral at all, and would instead use software to increase and decrease its supply in order to maintain its price.
Critics doubt that these more complicated stablecoins can hold their pegs in the long run. The systems also raise complicated new legal questions, especially given that many rely on an element of market manipulation to maintain price stability, says Hileman. “It is very early days, not just on the technology side but on the regulatory side,” he says. “Trying to make too many predictions about where this will wind up is hazardous at this stage.”
source: https://www.technologyreview.com/s/612207/stablecoins-will-help-cryptocurrencies-achieve-world-dominationif-they-actually-work/
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