If the banking sector also considers stable coins as potentially useful, then why are we not yet paying for goods with their help? I often hear people pay for the purchase of BTC or another crypto coin. It turns out that stable coins remain a means to avoid trading volatility? Does she have no other purpose?
It is not easier for global companies to adopt stable coins for daily payments. As a payment form, stable coins should be fully backed up with the currency or another real physical asset which has a good volume on world financial markets. Using stable coins for payment is not a bad idea because the low price fluctuation will not affect strictly to the payment amount. 
Topic: StableCoins might increase crypto adoption by big companies ? (Read 724 times)
November 26, 2019, 04:51:47 AM
If the banking sector also considers stable coins as potentially useful, then why are we not yet paying for goods with their help? I often hear people pay for the purchase of BTC or another crypto coin. It turns out that stable coins remain a means to avoid trading volatility? Does she have no other purpose?
Stablecoins still remain at the level of the conductor for trading, and all for the same reason why crypto is still not very common. This is the difficulty of acquiring. An ordinary person will like the speed and transparency that cryptocurrencies give, they can even study the system of making a profit and investing on the taklimakan platform. But this will not be enough until a simplified crypto purchase scheme is introduced. Now even having instructions does not always help. Since not all exchanges work for different countries. November 26, 2019, 04:49:53 AM
If the banking sector also considers stable coins as potentially useful, then why are we not yet paying for goods with their help? I often hear people pay for the purchase of BTC or another crypto coin. It turns out that stable coins remain a means to avoid trading volatility? Does she have no other purpose?
Stablecoins still remain at the level of the conductor for trading, and all for the same reason why crypto is still not very common. This is the difficulty of acquiring. An ordinary person will like the speed and transparency that cryptocurrencies give, they can even study the system of making a profit and investing on the taklimakan platform. But this will not be enough until a simplified crypto purchase scheme is introduced. Now even having instructions does not always help. Since not all exchanges work for different countries.
November 21, 2019, 11:59:51 AM
I somehow agree that stablecoins might increase the crypto adoption if more companies use as other option for payment but once their users become more knowledgeable in crypto and knew the difference between centralized and decentralized coins then there is a big possibility to increase demand for Bitcoin and other altcoins which they think is more profitable compare to stablecoins.
November 21, 2019, 11:27:53 AM
You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
But that is not really the reason why we have stable coins, bitcoin was actually created with the intention of being a currency used to pay for all kind of products, it is just that the adoption level has not reached the level where we can use it to buy everything that we want, stable coins were created with a very different objective in mind, they were created to allow investors to protect themselves from the volatility of this market.Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
That is it, they perform their function really well and it allows you to get a coin that behaves like fiat without having to deposit that money in a bank account, but stable coins will never be used massively as no one is using them to buy anything.
The problem is although bitcoin was created with the intention of being a currency, it really hasn't worked out that way so far. And the issue isn't just adoption, or speed of transactions, or fees (which are still pretty big hurdles). It's volatility.
Do you really think an everyday person not involved in crypto (or even those most who are), will use btc in the same way they use fiat? Ever?
Unless BTC hits a certain level and stays there for years, with huge money backing it to prop up the price, I don't see it ever occurring. Nobody wants to buy a TV at 1K then find out 2 months later that same amount of btc is now worth 5K... or a year later is 20K.
As for stablecoins, I agree that they weren't designed to be used as an everyday currency for purchasing goods. However, in theory, they would be very well suited for that task IF the SEC allows it, fees are less than what credit cards charge companies and transaction speed is at least in the same ballpark as credit cards. Lots of IFs, but it's one of the real ways crypto could hit mainstream. We could argue however that at that point, such a coin may not even be considered a real cryptocurrency, or at least not a decentralized one, as I expect it'd have to be centralized somewhere to maintain its price.
And so far the demand is mostly been driven by speculation, but there is also another factor, bitcoin is being used only by a few million people and if there is a strong increase in that number then the price is bound to move erratically.
November 17, 2019, 04:15:23 PM
You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
But that is not really the reason why we have stable coins, bitcoin was actually created with the intention of being a currency used to pay for all kind of products, it is just that the adoption level has not reached the level where we can use it to buy everything that we want, stable coins were created with a very different objective in mind, they were created to allow investors to protect themselves from the volatility of this market.Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
That is it, they perform their function really well and it allows you to get a coin that behaves like fiat without having to deposit that money in a bank account, but stable coins will never be used massively as no one is using them to buy anything.
The problem is although bitcoin was created with the intention of being a currency, it really hasn't worked out that way so far. And the issue isn't just adoption, or speed of transactions, or fees (which are still pretty big hurdles). It's volatility.
Do you really think an everyday person not involved in crypto (or even those most who are), will use btc in the same way they use fiat? Ever?
Unless BTC hits a certain level and stays there for years, with huge money backing it to prop up the price, I don't see it ever occurring. Nobody wants to buy a TV at 1K then find out 2 months later that same amount of btc is now worth 5K... or a year later is 20K.
As for stablecoins, I agree that they weren't designed to be used as an everyday currency for purchasing goods. However, in theory, they would be very well suited for that task IF the SEC allows it, fees are less than what credit cards charge companies and transaction speed is at least in the same ballpark as credit cards. Lots of IFs, but it's one of the real ways crypto could hit mainstream. We could argue however that at that point, such a coin may not even be considered a real cryptocurrency, or at least not a decentralized one, as I expect it'd have to be centralized somewhere to maintain its price.
November 17, 2019, 03:27:31 PM
You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
But that is not really the reason why we have stable coins, bitcoin was actually created with the intention of being a currency used to pay for all kind of products, it is just that the adoption level has not reached the level where we can use it to buy everything that we want, stable coins were created with a very different objective in mind, they were created to allow investors to protect themselves from the volatility of this market.Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
That is it, they perform their function really well and it allows you to get a coin that behaves like fiat without having to deposit that money in a bank account, but stable coins will never be used massively as no one is using them to buy anything.
November 17, 2019, 03:17:01 PM
Stablecoins could in theory lead to crypto adoption, but there are some big IFs. First, what does the SEC think about it? Secondly the fees need to be less than credit cards/paypal, as otherwise why wouldn't the company just be better off using fiat?
But if those two things (especially the SEC) can be worked out, then yeah, I think stablecoins make the most sense in regard to both company and user adoption. Also makes the most sense for 3rd world countries w/ hyperinflation.
November 17, 2019, 03:09:19 PM
You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
Yeah, but the problem with stablecoin is that these coins are backed by fiat money, and these money are not backed. So, they do not solve the problem with centralized power, they are not an alternative to the bank system, they only use blockchain technology and that´s all. Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
November 17, 2019, 03:01:03 PM
Stablecoins like everything have their own demerits send drawbacks. They aren't even 100% stable to start from. Although, I believe that for Crypto to be widely accepted and utilized we need less volatility that boy coin is a master at. Stablecoins might just be the way forward but its going to take a lot of delegation and support for one of the big guys to go into cryptocurrencies.
Stable coins might actually thrive because of the absence of volatility and this is volatility is what has actually been scaring people from using cryptocurrency for the main reason of its creation by satoshi which you will agree with me that is peer to peer, but I don’t want a situation whereby a friend, customer or relatives will send money to me now, and before it could even drop into the market, the value would have dropped already.In the case of stable coins, what you send is what you get and no matter how little the fluctuation is, it may still not have very much impact on the sender and the receiver, but the challenge I have is if those companies handling it are really trustworthy? Would they be able to maintain the stable coin and not have issue with people’s fund in future?
November 17, 2019, 02:41:39 PM
I think that is purely a myth.
Stablecoins aren't allowing institutions to adopt more. What they are allowing is people to access and trade cryptos more easily, circumventing fiat related regulations when it comes to trading because of the fact that it is a blockchain based token, retaining fungibility and anonymity to a degree of traditional cryptos.
In terms of institutions, I find it highly unlikely they'll favour stablecoins for their day to day operations as opposed to simply using existing banking services.
Stablecoins aren't allowing institutions to adopt more. What they are allowing is people to access and trade cryptos more easily, circumventing fiat related regulations when it comes to trading because of the fact that it is a blockchain based token, retaining fungibility and anonymity to a degree of traditional cryptos.
In terms of institutions, I find it highly unlikely they'll favour stablecoins for their day to day operations as opposed to simply using existing banking services.
November 13, 2019, 04:04:58 PM
But in the end stable coins will stay stable, tied to a dollar value!
Who makes volume? That volume comes from pairs USDT/BTC, USDT/ETH, USDT/anycoin...What kind of development usdt have? Centralized coin, made with just one purpose to be a dollar substitute, about supply to not even talk, and you talk about some progress.
In this times stable coins are making things easier for traders and for some services, that is a fact. But that is now, will we need tether in the future?
But it is proven that currently stable coins are still able to maintain the value according to what was planned, even the development of stable coins is faster. We take the example of Tether, now it has beaten many other coins. Tether is already ranked 5. If you look at daily volume, Tether is higher than all coins, including Bitcoin.
Who makes volume? That volume comes from pairs USDT/BTC, USDT/ETH, USDT/anycoin...What kind of development usdt have? Centralized coin, made with just one purpose to be a dollar substitute, about supply to not even talk, and you talk about some progress.
In this times stable coins are making things easier for traders and for some services, that is a fact. But that is now, will we need tether in the future?
November 13, 2019, 03:54:06 PM
You made good points but at this juncture in the crypto space, I think it will be hard for any coin to outperform Bitcoin. Yes the value of Bitcoin is volatile and stablecoins plays a vital role in this space, but over the years none has been able to even challenge ETH let alone BTC. One thing is, every coin has its specific role which makes it relevant; stablecoins are mostly used for hedging funds for traders and they are more than 1, the question is why? Because each believes it can offer more. Bitcoin will always be seen as a universal coin while others will play their role in different aspects of this space.
November 13, 2019, 03:43:20 PM
You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
No stablecoin can outperform bitcoin when it comes to acceptance in this regard, but obviously mainstream companies might prefer to accept stable coins due to the market volatility. For instance, an online store in my zone previously accepting BTC, ETH and USDT now accepts only USDT, for same volatility reasons. Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
November 13, 2019, 03:25:03 PM
You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
Yes. I think the advantage of a stable coin is that it can be used for exchange within a company, this can replace the USD. In this case, maybe a stable coin will be superior to Bitcoin. Bitcoin prices tend to be volatile. But in terms of investment and trading, people prefer Bitcoin. I don't even like stable coins in terms of investment.
stable coins can be very helpful if and only if they have true backing as claimed by the issuer or developers. but we already found out that most stable coins claimed to have certain fiat backing are not 100% true.
this type of coin can be of great use if they are true to their claims especially within the ecosystem of a big company.
but outperforming bitcoin? i highly doubt that.
But it is proven that currently stable coins are still able to maintain the value according to what was planned, even the development of stable coins is faster. We take the example of Tether, now it has beaten many other coins. Tether is already ranked 5. If you look at daily volume, Tether is higher than all coins, including Bitcoin.
November 05, 2019, 03:48:55 AM
I think it is impossible to outperform Bitcoin even though giant companies will use stablecoin for their payments. Bitcoin itself is a pioneer in the world of crypto. The originality is no doubt and the value of bitcoin itself can only be judged by the users themselves. In addition, almost everyone uses bitcoin to make a profit, whereas at Stablecoin where it is possible to get profits at a stable price. That is the reason why Stablecoin cannot compete with Bitcoin because it is not very attractive, its use is only to stabilize assets, or only as a payment medium.
But when you are the merchant you would like stability. Imagine that you accept payments for goods and in few hours you have lower value than you received. Is this what you want? Is this something what helps the adoption? No! Stable coins use the blockchain technology and have all the cool features while their price is stable in a time. So why not to use it, if you prefer stability before speculation? November 05, 2019, 02:32:38 AM
Stablecoins like everything have their own demerits send drawbacks. They aren't even 100% stable to start from. Although, I believe that for Crypto to be widely accepted and utilized we need less volatility that boy coin is a master at. Stablecoins might just be the way forward but its going to take a lot of delegation and support for one of the big guys to go into cryptocurrencies.
November 05, 2019, 01:47:26 AM
You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
Such idea may only imply if the company are willing to take the risk that crypto currency can offer. In a sense of stability stable coins are on the top over bitcoin but the profit in this is literally the price itself the clients would pay which on the other hand bitcoin could definitely out run if and only if the market would be in favor. Well bitcoin is totally in the edge here in terms of stability but if the company would to make it more out of it but as well willing to take the risk then bitcoin wins over here.
November 05, 2019, 01:28:42 AM
Stablecoins have one big major problem tho. They are not really backed 1 to 1 and they are centralized in that regard. For example usdt used to claim that they were 1 to 1 backed, now they claim they are not backed at all, now you can't even actually cash out your usdt into dollars. So, you are trusting one company to be legit about what they are doing when you are using USDT, that is not really acceptable in a world where decentralization is the whole purpose.
There could be some stablecoins that get attention from the big companies and gets huge and everyone starts using it (for example if LIBRA starts out and everyone uses it on instagram/whatsapp etc) but the moment that company turns out to be fiddling with peoples money then there could be some sort of trouble.
There could be some stablecoins that get attention from the big companies and gets huge and everyone starts using it (for example if LIBRA starts out and everyone uses it on instagram/whatsapp etc) but the moment that company turns out to be fiddling with peoples money then there could be some sort of trouble.
November 04, 2019, 03:27:38 AM
You have a great point there, OP. Since companies current problem accepting and adopting crypto payments is about the volatility of it, stable coins will be a great options because of it's volatility-free characteristic. If one certain company will gonna accept stable crypto coin as a payment, others may follow and will lead to success adoption by many merchants. It can be pegged or pair by other assets so i dont think there will be a problem at all.
This is a new revolution which we are awaiting as this gives the companies security from any volatility as they don't have to bother about the pump or dump with crypto as stable coins don't go through the fluctuations which other crypto does and moreover they have the benefit of being decentralized and definitely this will be a game changer and more organizations will adopt similar policy towards stable coin it's like a boom for them but I hope they don't use it to evade taxes.
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