The use of stable coins or no? - page 11.

tabas

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Stable coins has a stable value, I haven't seen a stable coin that has an unstable value. Although there might be a few stable coins that became unstable now for some reasons.
The main use of stable coins now are for trading, you can trade it for bitcoin or you can save your bitcoins through it.

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I always use stable coins as a trading tool. I think that using stable coins is a good way to lock your profits. The most important thing is to choose the right stable coin.

This.

Vinalians

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There are so many things that we can do if the coins will be stable. The market will be on the way. I mean so many things we can do like legalizing it because it is the top problem of all who wanted to make changes in cryptocurrency the volatility. If a specific coin would surpass that volatility and make itself a stable for sure there will be so many people and company would use it. It is still cryptocurrency after all.
Stable coins is good in the economy but not if you've wanted to make profit out of that coin.

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I always use stable coins as a trading tool. I think that using stable coins is a good way to lock your profits. The most important thing is to choose the right stable coin.

The real fact is we can't trust any stable coin because they can change their policies any time which could change the value of the coin as well overnight.So holding the profits in stable coin is also got same riskier but we can able to convert them into bitcoin or any other decentralized crypto with less fee compared to the fiat.

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Quote from: yazher on October 04, 2019, 06:41:10 AM

On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?

if you only focus on using cryptocurrency as alternatives of fiat and are afraid of losing the price, I think it's okay to convert bitcoin/altcoin into stable coin.

it all depends on the use of the coins you hold. if you use it as an alternative, it doesn't matter. it's just that, many people use bitcoin as an investment, business developer, and alternative of fiat.

Until now, quite a lot of people who hold bitcoin because they want to take advantage of the fluidity that occurs at the price of bitcoin. they believe that bitcoin can have a high price, even though it is quite risky.

CHRISBIN702

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I think the only real use case for stable coins is as a way to preserve one's position on an exchange. Say for instance, you see a down trend and want to pull out of BTC right before a prospective dip and rebuy when you think it's at the bottom.... Well, withdrawing and then exchanging to fiat can be time consuming and costly too. Then when that dip happens, repurchasing crypto and depositing back into the exchange is also time consuming and costly. Any profit one stood to make would be completely eaten up. Using a stable coin(not freakin' USDT!) you can keep your assets on the exchange and not risk missing your opportunity to capitalize on the markets action.

desticy

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During the last bulran, there was only Tether, and smart traders made excellent use of it. So the stable coins that have appeared now have only expanded the arsenal, but have not added any new functionality, because the possibility of overflowing crypto currency into the stable was before. It is obvious to me that stable coins should be used for their intended purpose, such as securing profits or protecting your portfolio during market fluctuations.

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Quote from: yazher on October 04, 2019, 06:41:10 AM

is this some acceptable alternative or no?

Surely you can do this in order to protect your gains, but it has to be for a short period of time.
Because in rare times, stable coins may also get a negative value. Once I witnessed USDT value dropped to $0.93 or $0.94 (I don't remember the exact figure) and that's something you will not want I guess.

And the current value is $1.01 for USDT.

aji567

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Quote from: yazher on October 04, 2019, 06:41:10 AM

On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?

in my opinion stable coins play an important role in this and I accept the alternatives you provide and I will try when bitcoin is really bull.

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Quote from: yazher on October 04, 2019, 06:41:10 AM

On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?

This has long been done by many traders especially during the times when the market is bleeding. Stable coins are really alternative fiat. No wonder why they are pegged on the value of fiat currency. During the times when the bear season is at its worst point and there is no other cryptocurrency that is not showing blood, your portfolio is going to suffer with them. This is the time to shift to say USDT to avoid worse price dip. It is better to keep it there until the market not yet turning to the opposite direction.

bitstalker

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I also think about using a stable coin as an alternative to fiat currencies, especially now many stable coins support the currencies of several countries such as USD, Euro, CHF in my own country (Indonesia). whereas if used as a fiat currency it will be interesting.

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Quote from: yazher on October 04, 2019, 06:41:10 AM

On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?

Stable coins are very helpful when you change your position in market very often for example, if you are indulged in day-trading. Rather than buying/selling for fiat, you can simply shift between crypto and USDT and make short-term profits. This reduces trade timing to very minimal. Other than that, I don't think there is any benefit of stable coins in trading.

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Quote from: yazher on October 04, 2019, 06:41:10 AM

On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?

It's actually very simple. Stable coins are used for your investments for trade. For example, if you do not trade any crypto for 1-2 months, you do not need to use stable coin. You can choose to use FIAT directly. However, if you use your bank account with every USD return request, it will probably catch the attention of your country's economic authorities.

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Stable coin is very much needed in this space. For traders its very much useful. I used a lots of stable coin. And yes most of people come to fiat after a profit and then back to crypto when bear market comes.

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I support the use of stable coins rather than fiat, but at the moment we don't really have a viable solution. DAI is the only decentralized solution that winks me an eye. The others with centralized collateral and no trustful audits will always make me raise a question mark.

A token that caught my attention lately is GOLD which is backed up by physical gold bullion bars that are stored in Singapore with BullionStar. They have audit from ChainSecurity, which is a trusted Swiss company in the industry. You can redeem the GOLD on their website with BTC or ETH in a few minutes at the golden spot price.

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The use of stable coins is very important for me, especially when I accumulate capital, for which I don’t worry, because I know that the total price of my capital will not decrease with any changes in the cryptocurrency market. At the same time, it makes it possible to keep all your funds in the cryptocurrency market, and not to withdraw them to fiat. In addition, stable coins give a very huge advantage in case of a sharp drop in the cryptocurrency market, since the instant withdrawal of all your assets into a stable coin makes it possible to fix your balance at the same level and not tolerate further price reductions. But among all the stable coins, I choose USDT.

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I think that stable coins are insurance against a sudden price change and no more. you can sell your BTC in any time!

cuo

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I will buy some stable coin to save balance when market very high volatility, but if you ask about using stable coin, I prefer use fiat money!

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If you don't want to risk your money onto something volatile,Yes, you can buy stable coins but make sure you're going to use it with you nothing to lose. Stable coins are still volatile but it has low a rate, in fact some traders use stable coins rather than converting fiat money into cryptocurrencies, vice versa. So stable coin acquire both fiat and crypto distinctions, like a neutral place between currencies.

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Quote from: max6575 on October 04, 2019, 08:59:24 AM

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Every post that I see in my thread is helping me understand something new with the stable coins. You, on the other hand, making things worse. as I don't understand what you are blabbering about. please don't just increase your post count, you need to post some helpful tips or opinions according to what peoples talking on the thread. If you don't have something good to say you better just read the posts it'll be more helpful that way.

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