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.
November 04, 2019, 03:19:11 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?
If the problem is use as a direct payment tool, I think we can use a credit card instead of a stable coin. Bitcoin and other cryptos should be used as digital assets and might be used as a means of payment. In my opinion, stable coins should only be used in exchangers and when exchangers have received deposits and withdrawals with fiat, then actually stable coins can not be used
November 04, 2019, 02:29:08 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.
November 04, 2019, 12:25:38 AM
Stable coins have recently been very well developed and supported by society. Although this is not entirely a cryptocurrency, however, due to the fact that they are often created by states and supported by their authority, people have great confidence in a decentralized cryptocurrency and in this connection it becomes more recognizable and popular. Therefore, I believe that stable coins as a whole positively affect decentralized cryptocurrency, however, on the other hand, they take away potential users from them. However, this is a manifestation of market laws. The strongest survives here. Stable coins create real competition with conventional cryptocurrencies as a means of payment, forcing cryptocurrencies to improve.
November 03, 2019, 06:50:15 PM
Every coin moves depends on the demand and supply and it will be hard if to find a stable coin not unless they created their own coin to use on their platform just what Facebook is planning. Bitcoin volatility will continue because of future updates like the halving and many more, if those companies start adopting other coins, it will still be good for the whole cryptomarket so nothing to worry.
November 03, 2019, 06:48:18 PM
If what they want is what has lesser volatility, that means that stable coin will be the best option for them. The reason being that, at the moment, the market is not yet in a stable state, although there is also little fluctuation in stable coinss' prices. The companies that are also working towards mass adoption will go after already established cryptocurrency.
November 03, 2019, 06:42:02 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.
If you don't believe just find some reliable stablecoins in the news they usually inform about the inspection done by SEC for certain stablecoins company and you can also see how much fund they have reserved.
November 03, 2019, 06:37:41 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.
November 03, 2019, 05:52:02 PM
Mant organisation will still prefer coins like BTC, Eth, and some other good coins to stable coin because they have more benefits than stable coins. Personally i also prefer BTC to stable coin, so i don't see stable coins increasing crypto adoption.
November 03, 2019, 05:40:47 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.
November 02, 2019, 03:30:34 AM
Is it possible some stablecoin might outperform bitcoin regarding this?
it can happen but it is still a discourse if official stablecoin is used by large companies as a means of payment cryptocurrency.bitcoin has a strong foundation from any sector, enthusiasts, adoption. and bitcoin as the strongest market predator. Large companies must be brave to risk if they are afraid of price volatility 
November 02, 2019, 02:58:29 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.
ouch, sad news 
it's been a long time since I logged in Steam. it turns out that now payments using bitcoin are no longer available? I last filled a steam balance in 2017 to buy a battle pass.
Quote
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 stablecoin existence cannot replace Bitcoin. although it is possible stablecoin can be available as a payment option other than bitcoin.Is it possible some stablecoin might outperform bitcoin regarding this?
until now I have never found a merchant store/steam store or other stores using payments other than bitcoin (cryptocurrency), USDT which is considered stable but has never been used as payment
November 02, 2019, 02:58:16 AM
Whenever I see the news that Ripple fan are circulating about how XRO would be used for cross border payments by banks, I just laugh because there is no way I can see that working out, imagine if a bank were to make transfer of 1000 XRP worth $300 at the time of sending and when the customer receives the funds and tries to withdraw, there was a slight dip and the dollar value has reduced to $290, do you think that would be sustainable? Whenever I envision big cooperations using Cryptocurrencies, I always envisioned it to be stablecoins. I think they are the future of payments.
November 02, 2019, 02:44:21 AM
What do you mean outperform? in what way? price? speed? safe? hype? So many meanings.
If we talk about prices, then obviously Stablecoin won't be able to compete with bitcoin. Speed & safe? already available lightning network for sending bitcoin quickly, cheaply and of course safe.
If the problem is volatility, I don't think this is a big problem. Because this could be a boon for the company because of the price difference when it gets bitcoin from consumer payments.
If we talk about prices, then obviously Stablecoin won't be able to compete with bitcoin. Speed & safe? already available lightning network for sending bitcoin quickly, cheaply and of course safe.
If the problem is volatility, I don't think this is a big problem. Because this could be a boon for the company because of the price difference when it gets bitcoin from consumer payments.
November 02, 2019, 02:22:02 AM
I'm working on a coin experiment, Bitflate. Instead of limited supply, it has constant inflation. I think inflation can reduce price volatility. When price fluctuate less, I think business can accept it. Bitflate is digital native and decentralized like Bitcoin.
https://bitflate.org/post/2019/04/14/bitflate-cryptocurrency-with-constant-inflation.html
Even though the chain inflates at 7%, if adoption rises faster, I think the coin may gain value. Do Your Own Research.
Join our discord community: https://discord.gg/utnEyp8
https://bitflate.org/post/2019/04/14/bitflate-cryptocurrency-with-constant-inflation.html
Even though the chain inflates at 7%, if adoption rises faster, I think the coin may gain value. Do Your Own Research.
Join our discord community: https://discord.gg/utnEyp8
November 02, 2019, 02:05:14 AM
The solution to reduce volatility is not to use stablecoins such as USDT. The volatility issue can't be resolved by the usage of stablecoins. The real solution is to use a payment processor which would convert the Bitcoin (or any other cryptocurrency) to fiat in real time. Direct payments using Bitcoin is always problematic, because there will be a delay in getting confirmations and by the time we get confirmation, the exchange rate would have changed. Using a cryptocurrency payment processor would alleviate these issues and take the volatility factor out of the equation.
November 02, 2019, 01:53:21 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?
It is very possible but only if the likes of Steam will start allowing its clients to use USDT. If companies as well as their customers will prefer stable coins over Bitcoin, they will outperform it. What I doubt is that these companies will adopt stablecoins more than Bitcoin. Stable coins are not the cryptocurrencies that the crypto supporters truly wanted. Stable coins are like extension of fiat.
November 02, 2019, 01:44:33 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?
The real question is if bitcoin is stable, would it encourage companies you mention to start accepting crypto into their payment systems. Acceptance of crypto goes beyond being stable. If you look at the alt market, you will realize that there are certain coins that have not moved significantly over the last few months or hovering in a particular range, which can be said to be stable but does that mean it will be adopted? Of course not because it goes beyond that. What is the degree of acceptance or the ease of exchange to fiat, the control, the sustainability, the spread among other test that it must pass before being considered by any company.
November 02, 2019, 01:15:55 AM
This is one of the saddest moments for those gamers that also knew about bitcoin. This didn't stayed for a long time but if it was able to stay, most of steam users now can finally purchase almost every game with bitcoin or at least they know about the existence of bitcoin.
Not being a gamer myself and never having used Steam, I wonder if many users were actually using bitcoin for purchases there. It seems weird to me that volatility would be the main issue with them dropping bitcoin support, because the payment processor is supposed to ensure that the merchant doesn't suffer any of that. Bitcoin is converted to fiat before the merchant gets paid, so it shouldn't have been an issue and if it was then there wouldn't be anybody accepting bitcoin at all.I don't think stable coins are going to have any influence on businesses accepting crypto, except for facebook obviously, and only if Libra sees the light of day. Why would anyone bother to pay with a stable coin instead of fiat? People might find themselves owning some bitcoin they bought or earned, but the same cannot be said of something like Tether or the like. Nobody is going to be buying that in order to spend it on something.
November 02, 2019, 01:10:07 AM
Your point makes sense because stable coins are the only digital currencies that can be used as real store of values, from trading to means of payment but on the other part i think bitcoin and eth will gain investors mind than stablecoins, bitcoin is not a stable coin but its capable of bringing back profit to investors, this is a big step forward
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November 02, 2019, 12:58:22 AM
That could happen because stable coins don't have any issue with the bitcoin price. Besides that, the price of stable coin is not fluctuating or moving up and down too fast like the bitcoin or altcoin. Maybe soon, the stable coin will be used as a bridge for e-commerce so people will interest in cryptocurrency.
But stable coin cannot outperform bitcoin because bitcoin will still be the leader of the cryptocurrency. It is hard to compete with bitcoin, and I don't think that any coin can do that.
But stable coin cannot outperform bitcoin because bitcoin will still be the leader of the cryptocurrency. It is hard to compete with bitcoin, and I don't think that any coin can do that.
November 01, 2019, 02:38:07 AM
If stable coin will get more investors and those companies will just have that then what is the main purpose of cryptocurrency?
The major purpose of cryptocurrency actually is decentralization and a store of value for your money, that's what I understand as that concept is coming from bitcoin which is the most popular, stable coins are just created later, or use for trading to hedge from volatility. Now, there's a lot of stable coin with different purpose, and the most anticipated was Libra was is being criticize but once it will be launch it will gain a lot of users that would help to increase adoption in crypto space.
crypto is designed for freedom of currency and the anonymous gaining and saving of your wealth!
Crypto is here and the stable coin will not add anything but the demand is the best way to get more demands from people!
That was the original purpose but this market is growing and its normal to see more coins created, and stable coin and volatile coins are both useful as in real world, most of the things and services are still bought through fiat. Crypto is here and the stable coin will not add anything but the demand is the best way to get more demands from people!
November 01, 2019, 01:58:56 AM
There are also some new investment tools, allowing to get returns on stablecoins investing, for example, Invictus Margin Lending (IML) Fund that aims to provide investors with exposure to margin lending returns. Average annualized daily rates for USD in this capacity on Bitfinex have been in excess of 16% for the past 12 months.
The fund only holds USD or USD-equivalent TrueUSD (TUSD) stablecoins. Fund capital is lent out to traders, who borrow these assets primarily for leveraged trading. There is on-demand liquidity for IML token holders, who are able to invest or redeem from the fund on a daily basis. Traders borrow these assets primarily for leverage trading via major cryptocurrency exchanges.
Because the demand is strong and growing while several platforms have recently introduced margin trading functionality or increased the maximum leverage available to traders. Returns have exceeded the hurdle rate since inception, with consistent net returns at rates of approximately 11%.
The fund only holds USD or USD-equivalent TrueUSD (TUSD) stablecoins. Fund capital is lent out to traders, who borrow these assets primarily for leveraged trading. There is on-demand liquidity for IML token holders, who are able to invest or redeem from the fund on a daily basis. Traders borrow these assets primarily for leverage trading via major cryptocurrency exchanges.
Because the demand is strong and growing while several platforms have recently introduced margin trading functionality or increased the maximum leverage available to traders. Returns have exceeded the hurdle rate since inception, with consistent net returns at rates of approximately 11%.
I think Stable coins prevent the price of Bitcoin or other altcoins from increasing at large rates. If Stable coins had never existed, the price of Bitcoin would probably be much more than that now.
But for the adaptation, I agree with the author's opinion. Firms can adapt to blockchain more quickly with the help of stable coins. That's because fluctuations in the price of altcoins outside stable coins can pose an element of risk for large firms.
So I think it's right that stable coins should be preferred more for adaptation.
But for the adaptation, I agree with the author's opinion. Firms can adapt to blockchain more quickly with the help of stable coins. That's because fluctuations in the price of altcoins outside stable coins can pose an element of risk for large firms.
So I think it's right that stable coins should be preferred more for adaptation.
Well.. it is not really stable coins we're trying to implement here isn't it? Because we already have the electronic payment methods which are pretty much the same as using a wallet to send money & you only need to swipe your card. I think that Bitcoin's mission is much bigger than that - to become a worldwide universal currency that is not governed by banks and people control it, not governments or central entities. The current stable coins have many reliablility problems. DAI sometimes has some brutal volatility spikes that are not a good sign at all. USDT is shady and the other stable coins are rarely used. I've noticed that crypto enthusiasts don't manifest much interest for them.
Actually, there are mechanisms that could overcome sudden effects of crypto volatility and with it, we could even disregard the use of stablecoins as a payment option to foster merchant adoption! And I think one way that could do this is to replicate what local exchanges are doing or adopt strategies in their business model to mitigate volatility.
I am not an expert on this field and I assume this local exchanges are doing the right way combating volatility because if they were not performing right on this field, then they would have been gone out of their business and succumbed to the competition a long time ago! So its up to the merchants if they really want to adopt crypto into their businesses and should find ways to further grow their business through crypto adoption, but no stablecoins please.
If stable coin will get more investors and those companies will just have that then what is the main purpose of cryptocurrency?
crypto is designed for freedom of currency and the anonymous gaining and saving of your wealth!
Crypto is here and the stable coin will not add anything but the demand is the best way to get more demands from people!
crypto is designed for freedom of currency and the anonymous gaining and saving of your wealth!
Crypto is here and the stable coin will not add anything but the demand is the best way to get more demands from people!
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?
Accepting crypto as payment gives hope to other options. But it is a bit suspicious that it is stablecoin, not crypto. What is the difference between controllable stablecoins with paper money? It is useful to pay less fees in cryptotrade. But what does it mean to be accepted as a payment? Stablecoins are not real cryptocurrencies. Besides why should they use it, when we even thought it is scam? Stablecoins are useless outside this area. 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?
100% agree with that. I think stablecoins are already doing that actually, they are light and mobile friendly for future apps and payment channels 👍🏼✌🏼
I do not know why most the popular company not accept payment in stablecoin, if they do not like to accept bitcoin due wide range price, stablecoin not.
The problems of stable coins don't let popular companies accept stable coins as a payment method. Stablecoins lost the popularity after the Tether scandal and the big crypto exchanges especailly Bitfinex was sued by the investors AFAIK. I don't guess the formal payment methods will be ignored and the preference will be given to the stable cryptocurrencies.
Well.. it is not really stable coins we're trying to implement here isn't it? Because we already have the electronic payment methods which are pretty much the same as using a wallet to send money & you only need to swipe your card. I think that Bitcoin's mission is much bigger than that - to become a worldwide universal currency that is not governed by banks and people control it, not governments or central entities. The current stable coins have many reliablility problems. DAI sometimes has some brutal volatility spikes that are not a good sign at all. USDT is shady and the other stable coins are rarely used. I've noticed that crypto enthusiasts don't manifest much interest for them.
I think stablecoins will not but those big companies may make their own ones. We already know that most stablecoins like usdt are scamming people anyway, you can't even withdraw dollars right now so I have no idea why people still use it, big companies will definitely not adopt something like USDT that worth zero, they are not that idiots, huge companies are bigger than most nations, if they make their own currency slowly then people may start to use that.
Think about it, applepay or whatever is already a good thing, how about applecoin? Facebook is big enough, how about Libra? Starbucks is huge everywhere, what about stars bucks or whatever. I mean stablecoin idea itself is good for companies to make their own but they will definitely not use the scam ones we have now.
Think about it, applepay or whatever is already a good thing, how about applecoin? Facebook is big enough, how about Libra? Starbucks is huge everywhere, what about stars bucks or whatever. I mean stablecoin idea itself is good for companies to make their own but they will definitely not use the scam ones we have now.
I do not know why most the popular company not accept payment in stablecoin, if they do not like to accept bitcoin due wide range price, stablecoin not.
businesses always want stability. one would understand that they are for profit, holding btc in their wallets are just going to risky for them since they know the prie could just drop to a hundred to thousands in a single day, who wants that.
those who has the mind to really look at the future and where is cryptocurrency going to go, they are looking into it and must have seen it that way that stability of a cryptocurrency will make them accept it like fiat.
First, why would they use stablecoins when they can use cashless transactions? That is basically the same for me. Stablecoins are pegged on the US Dollar and so if I buy stuff from Steam and Amazon I could very well use my card instead.
A wise decision indeed! I guess using cards for online purchases could be more handy and comfortable than using a stablecoin! On the contrary, stablecoins specifically with Tether have known risks associated with it that is why most merchants could not be easily convinced in adopting it - one reason mainly because it has been controversial with regards to the integrity of fiat backing and until this date, the holding company of Tether hasn't provided any verifiable proof that Tether has indeed a 1:1 backing for U.S. dollar!
So in essence, if you buy goods or services using your cards, the merchants are assured it has fiat backings courtesy from the bank of financial institutions that issued it whereas if you use a stablecoin such as Tether, merchants are not really sure if it indeed has fiat backing - the reason why stablecoins would not get a wider audience and adoption in the long run. Imho.
what I know is stable coins are centralized coins and do not have advantages like other decentralized crypturrency and the price is very volatile. so if I say about profits in investing the answer is fluctuating coins like bitcoin and some other altcoins that are not stable coins. but if you rely on stable coins as an investment tool, it will not give you more profit.
In fact, stable systems are no different from ordinary national currencies such as dollars and euros.
It may well become a gateway through which the crypto community and simply cryptocurrency users can use bitcoin as a means of payment.
However, the question arises from which side Bitcoin - stablecoin and vice versa will be exchanged.
It may well become a gateway through which the crypto community and simply cryptocurrency users can use bitcoin as a means of payment.
However, the question arises from which side Bitcoin - stablecoin and vice versa will be exchanged.
Stablecoins really were just created for people to park their money and not lose their profits in times of high volatility. Tether was created by Bitfinix to protect first the interests of the big Whales and to help those market makers in their initial dumping sessions, to dump before everyone else can do anything, so they can keep the wealth for themselves again. Of course, many people don't know how to trade and to be honest stablecoins don't have much other usage at the moment. They are good for those who have them and if they don't want to use money in their bank they can use it to buy things if a merchant allows. I don't think that's a bad thing for those who actually only earn or own crypto and not fiat.
Doesn't the bitpay service convert the bitcoin to fiat-money automatically for the retailer? So volatility shouldn't be the issue, i think that they just want to stay away from cryptos for now because of other reasons.
AFAIK Steam abruptly ended the partnership with Bitpay due to reasons unknown up to this point. It's not due to volatility since Bitpay handles all the conversions from crypto to fiat in a seamless manner. And no, I don't think stablecoins would have a say/part in e-Commerce knowing that they are basically just tools used to transfer value from one exchange to another and not necessarily as a currency per se. And with what Steam did to the payment option of bitcoin last 3 years ago, I can say that no change of heart has happened even though bitcoin and the whole cryptomarket went to the sky and fell down to where it is right now.
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?
First, why would they use stablecoins when they can use cashless transactions? That is basically the same for me. Stablecoins are pegged on the US Dollar and so if I buy stuff from Steam and Amazon I could very well use my card instead. There is no sense buying stablecoins for this sake. It is just adding another layer of transaction when it is not really necessary. If they incorporate cryptocurrency, it should be Bitcoin first and foremost. Let the volatility issue turn out beneficial to them. They can do that of course.
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?
Doesn't the bitpay service convert the bitcoin to fiat-money automatically for the retailer? So volatility shouldn't be the issue, i think that they just want to stay away from cryptos for now because of other reasons.
like most others, I'll just say a little about this.
that stablecoin is included in the fixed price category.
so if you mean stablecoin in real assets like dollars (USD) it is a stable currency in real life
while stable coins in cryptoqurrency assets can be like USDC or USDT including stable digital currencies that exist in this cryptoqurrency market.
so, I think stable coins cannot outperform bitcoin more than what they have produced so far such as (USDT, USDC etc.)
that stablecoin is included in the fixed price category.
so if you mean stablecoin in real assets like dollars (USD) it is a stable currency in real life
while stable coins in cryptoqurrency assets can be like USDC or USDT including stable digital currencies that exist in this cryptoqurrency market.
so, I think stable coins cannot outperform bitcoin more than what they have produced so far such as (USDT, USDC etc.)
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.
Yes this have big impact in crypto like many will really adopt this by stable coins because many users,traders and investors want assurance like the price is not that volatile so some big companies will use this by that not like btc,alts and tokens that have volatile price so if you have this then you need to take the risk already still many want to invest so this is useful too like all cryptocurrency in crypto have different
and it will be difficult for them if they will transfer it directly to fiat -bank account the better way is to really use the stable coin as alternative.
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.
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?
I've bought a game currencies using bitcoins, but the transaction fee is out of my mind.
It takes like 5$ while i just buying 10$ worth in game currency. So i think crypto is not ready yet for game payment.
I'm not sure why it takes so much fees but it's not worth it to buy
I do not think any stablecoin would replace bitcoin anyway. Bitcoin has made its impact in the entire crypto space so much that people and any other business outlets are eager to use bitcoin even just for their publicity, apart from its usage like a method of payment. Some business hubs are allowing payments in bitcoin just for their publicity as people are taking interest in bitcoin.
Stablecoins? But bitcoin belongs on the much stable coins in the market, right? I mean, it is more stable than the newer alts because it already established a good foundation throughout the years. If Steam refused to support bitcoin, then who is more deserving to be chosen? Honestly, I can't think of another coin right now.
What're the differences between using online service payment like paypal or another kind of service?I see no differences, you must know that people are wanna seeing native crypto like bitcoin to be accepted by an online store company to increase the adoption of bitcoin.
If they are using stable coin doesn't mean a lot for crypto. They will buy stable coin instead of bitcoin.
The volatility is not the main reason because when you are using the lightning network and that's enough to complete the exchange from bitcoin to the fiat balance in a short time.
To accept the stable coin will not increase the adoption for crypto.
It's about how to make bitcoin to be bought by more and more new adopters.
If they are using stable coin doesn't mean a lot for crypto. They will buy stable coin instead of bitcoin.
The volatility is not the main reason because when you are using the lightning network and that's enough to complete the exchange from bitcoin to the fiat balance in a short time.
To accept the stable coin will not increase the adoption for crypto.
It's about how to make bitcoin to be bought by more and more new adopters.
of course it can happen steam and amazon can support payments using cryptocurrency, like nordvpn which already supports many payments such as eth, ltc ripple and also btc, unfortunately i don't see stablecoin there,
and Stablecoin may not be able to defeat bitcoin, people trust bitcoin more than stablecoin, but that is just an alternative, so in my opinion it is not beating bitcoin but completing it.
and Stablecoin may not be able to defeat bitcoin, people trust bitcoin more than stablecoin, but that is just an alternative, so in my opinion it is not beating bitcoin but completing it.
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.
This is one of the saddest moments for those gamers that also knew about bitcoin. This didn't stayed for a long time but if it was able to stay, most of steam users now can finally purchase almost every game with bitcoin or at least they know about the existence of bitcoin.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 don't think so.Is it possible some stablecoin might outperform bitcoin regarding this?
If they will consider using stablecoins then why they just don't use the usual payment methods like PayPal?
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?
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