Topic: StableCoins might increase crypto adoption by big companies ? - page 4. (Read 724 times)
What is the point in using Stablecoins, it does not make sense to me at all. Furthermore, it is pretty hard to find a trustworthy stablecoin, because Tether is manipulated the whole time, DAI is backed by ETH which is unstable as well.
If they problem is unstable price when accepting payment why don't they use other services than bitpay where they can accept payment without the price fluctuates like coinpayments where you can set to auto convert or swap to any stable coins. Because mostly people use major coins like BTC if they push other people to use stable coin like USDT I'm sure they can only get less customer than BTC.
Here in my country this is not a problem when buying steam codes we have a local service here which accept crypto as payment like coins.ph if you are living in the Philippines you don't need to be worry on this. Im believe that there are the same services in other country like in India(zebpay).
Thinking back on it, I don't think having a stable price is the issue, bitpay and other payment processers charge a decent chunk of change and they have the ability to instantly exchange it to USD.Here in my country this is not a problem when buying steam codes we have a local service here which accept crypto as payment like coins.ph if you are living in the Philippines you don't need to be worry on this. Im believe that there are the same services in other country like in India(zebpay).
Stablecoins isn't really what BTC was meant to be about to be fair though, makes things a lot more boring and goes against everything
For me stablecoins are like a bridge between the traditional and the crypto financial worlds. I am sure it will bring more adoption for cryptocurrencies and reduce risks associated with government regulations. But it will never replace bitcoin, neither in value or prices or volume.
Im not sure about that. Stable coins are not belong on cryptocurrency, it is kind a centralized coins i think.
To increase cryptocurrency adoption, we must create more legit and profiting crypto projects.
With some good projects, peoples will come to using cryptocurrency and big companies start to using it as well.
To increase cryptocurrency adoption, we must create more legit and profiting crypto projects.
With some good projects, peoples will come to using cryptocurrency and big companies start to using it as well.
How would this help the crypto market to grow? Actually IMO, we don't more more stable coin and what we really need are coins that will provide new innovation helpful to improve this market. Maybe this kind of news that big companies stopped accepting bitcoin even through 3rd party is what entice the facebook to launch its libra coin, but it's facing some problems now, so I think no stable coin that would generate massive adoption.
talking about volatility and liquidity differ from each other, like the stable coins you said above can increase crypto adoption, but it is not possible to outperform the price of bitcoin. bitcoin is a cryptoqurrency currency and one of the top coins in the crypto industry. so I don't think Stablecoin will outperform bitcoin in terms of price but stableCoin can only increase crypto adoption.
The crypto industry is still in its infancy, so many things can and will continue to happen. I believe adopting Stablecoin is a step in the right direction, not only as a technology in itself, but also because it can expand education about cryptocurrency and access to other cryptocurrency like Bitcoin substantially. Stablecoin is still very useful for more interoperability across businesses and markets.
Well, bitcoin jumps up and down, of course it will not be convenient for the company when it falls. You can accept payments in USDT currency, it is a stable cryptocurrency
until whenever stable coins will never be able to outperform bitcoin, even though the price of bitcoin is fluctuating, I think decentralized and non-decentralized coins differ from each other. so stable coins will only be used for payment systems by several large companies.
This can depend on a company, we have store here that accepts BTC though it's just a small store since the owner is a believer of bitcoin, apparently only few pays in it. My point is if the owner of a company is somehow believes in the future of Bitcoin they can probably sustain it even its drops in value, however if not like Steam then stablecoins can be a solution since they already have idea on how crypto works same with other big companies that may find crypto system difficult to maintain in finances. But, if ever I'll have a company I will be happy to accept BTC as a payment, it will depends on me if I will use it as Investment and the fiat payment that is left will be the circulation money to upkeep the business. 
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?
While its technically feasible to address issues such as high transaction fees and high volatility inherent to Bitcoin, stablecoins also had its share of issues particularly with the most famous and well used of them all, the USDT (Tether), which may be the reason why some merchants such as Steam hadn't opted in integrating it into their platform aside from the fact that the token is very well centralized in nature which is naturally frowned upon by most of the crypto-community.
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?
It won't make a difference because, stable coins don't bring back profit, they are use to keep or hold a certain amount of dollars to avoid depreciation, people invest in bitcoin and other coins to make profit, thats a fact and their is no reason for them to invest in stablecoin since it can't appreciate in price 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?
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.
If they problem is unstable price when accepting payment why don't they use other services than bitpay where they can accept payment without the price fluctuates like coinpayments where you can set to auto convert or swap to any stable coins. Because mostly people use major coins like BTC if they push other people to use stable coin like USDT I'm sure they can only get less customer than BTC.
Here in my country this is not a problem when buying steam codes we have a local service here which accept crypto as payment like coins.ph if you are living in the Philippines you don't need to be worry on this. Im believe that there are the same services in other country like in India(zebpay).
Here in my country this is not a problem when buying steam codes we have a local service here which accept crypto as payment like coins.ph if you are living in the Philippines you don't need to be worry on this. Im believe that there are the same services in other country like in India(zebpay).
until whenever stable coins will never be able to outperform bitcoin, even though the price of bitcoin is fluctuating, I think decentralized and non-decentralized coins differ from each other. so stable coins will only be used for payment systems by several large companies.
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?
Yep, I'm not sure where I saw it, but there was an article that confirmed that that was the real issue of steam not accepting BTC was due to price changes and they didn't get a lot of volume from it anyway. You can use purse.io to spend cryptocurrencies on Amazon.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?
A centralised stablecoin would definelty see adoption, and it's the main reason why we are seeing goverments develop these sort of risk free cryptocurrencies where they'd have full control.
Due to too much volatility of bitcoin, they can't accept yet the possibility loss or gain they can get thru this payment method, stablecoins can solve their problem if ever they will accept again since the value will no big difference in movement of price unlike in btc. However there are wallet apps that support electronic payment too that are applicable to buy games in different game outlets like steam, garena and etc , though you'll need to convert your crypto or btc into your currency first then pay in that wallet app to your steam wallet. I think that is much better since all transaction will be done in one wallet.
Yaps, it could be that the stable use of coins will be accepted by large companies compared to bitcoin. we know that the fluctuation that occurs in bitcoin makes bitcoin itself quite difficult to accept in large companies. however, it is different from stable coins. some of the benefits that are probably best on stable coins are that they are easier to obtain, and may be integrated as cryptocurrency investments that have a large volatile price. unfortunately, in the use of cryptocurrency, I think people are more focused on bitcoin. but it is possible because, from all aspects, stable coins have met to be used as a means of payment. 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?
The main problem with Bitcoin and other cryptocurrencies are not only about volatility but legalization, risk, and authorization. And stablecoin does not solve this problem too, in stablecoin there is an authorization that could mint the money as much as they want, risking the company involved with it to get burned and a problem with security law that might force them to close their company. Until now we do not have a clear line in cryptocurrency legalization until then we are still far away from adoption.
As far as I know, stable coins or other stable currencies only outperform in terms of prices such as (USD / dollar) the increase in this currency depends on the value of the stock. and if coins are stable like usdt, usdc only depends on increasing the value of the original currency (USD) and I don't think a stable currency can outperform bitcoin in all aspects.
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?
In my opinion, it's hard for stable coins to beat bitcoin in price. I welcome it if more and more big companies issue stable coins as long as the coins are backed up with large funds and properly audited. This will give traders the choice in choosing stable coins that are trusted and might make market conditions more attractive
The adoption of cryptocurrency has nothing to do with the value or market price of it. Adoption can only take place when the entire world understand what cryptocurrency is, how it is different from physical fiats and the financial freedom it presents to anybody using it. Knowledge and understanding are the only thing that can increase the adoption of cryptocurrency among the general public and companies.
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