There are lots of stablecoins available in the market and many of them have adequate volume... hope you're aware of that?
Most of the conversations (from cryptocurrency to stablecoins) happen on centralized exchanges. so I don't see how that will conjest the network
Topic: The use of stable coins or no? - page 12. (Read 2007 times)
That is actually the purpose of stable coins - to minimize the risk of volatility in crypto markets thus preventing your net portfolio from being significantly reduced in a short period of time.
One example of its usage is that: Assuming I have 1 BTC worth $10k now and all market indicators shows it is on the verge of descending pattern, then I can convert my 1 BTC to 10k stable coins like Tether and wait for the market to regain its composure. Supposing 1 BTC slides to $9k and all indicators again predicts it will have a rebound, then you can convert/buy $9k/BTC with all your 10k Tether making your new BTC holdings estimated at 1.11 BTC,(less trading fee of course!) thus increasing your BTC portfolio by at least 10 percent but on the condition that you did the right timing on your exit and entry points.
This is the what's the stable coins used for right? I have never thought of that until now. I though stable coins are just some coins from a working project with real products. If I didn't ask these questions I will never know the value of those stable coins.
Indeed it is! I bet you have already read the news about Tether surpassing BTC's volume across all exchanges as per Coinmarketcap data and is it because traders have used it to protect the value of their crypto portfolio (not just BTC) from sudden volatility especially when BTC's price suddenly slided down to 8k level. .
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?
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?
That's the specialty of stable coins. They save us from the hassle of converting our fiat to crypto and back. With stablecoin, you can easily convert your crypto coins to a fiat value within a few seconds and convert them to fiat at your ease or back back cryptocurrencies from it. They have become a great tool for day traders who makes their profit through fluctuation in prices of the coins.
That is actually the purpose of stable coins - to minimize the risk of volatility in crypto markets thus preventing your net portfolio from being significantly reduced in a short period of time.
One example of its usage is that: Assuming I have 1 BTC worth $10k now and all market indicators shows it is on the verge of descending pattern, then I can convert my 1 BTC to 10k stable coins like Tether and wait for the market to regain its composure. Supposing 1 BTC slides to $9k and all indicators again predicts it will have a rebound, then you can convert/buy $9k/BTC with all your 10k Tether making your new BTC holdings estimated at 1.11 BTC,(less trading fee of course!) thus increasing your BTC portfolio by at least 10 percent but on the condition that you did the right timing on your exit and entry points.
This is the what's the stable coins used for right? I have never thought of that until now. I though stable coins are just some coins from a working project with real products. If I didn't ask these questions I will never know the value of those stable coins.
I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.
I think he is pertaining to solve the problem about network congestion. Actually, the problem is already been solved, there are stable coins in the market, the problem now is adoption, if and only if we, people will going to adopt cryptocurrency in our daily expenses, we don't need to worry about converting our cryptos to fiats. In that case, we can directly use crypto to pay for our daily transcations, and at the same time, avoid network congestion.
I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.
You haven't got what I said. Ok, you see when a bull run comes then the price of the bitcoins will suddenly skyrocket when it reaches its full price, most of the holders will sell their bitcoins simultaneously. on that time, the network will be congested if you convert your bitcoins into fiat. so as an alternative, you have an option to sell it into stable coins then sell it later to fiat. did you get it now?
That is actually the purpose of stable coins - to minimize the risk of volatility in crypto markets thus preventing your net portfolio from being significantly reduced in a short period of time.
One example of its usage is e.g., Assuming I have 1 BTC worth $10k now and all market indicators shows it is on the verge of descending pattern, then I can convert my 1 BTC to 10k stable coins like Tether and wait for the market to regain its composure. Supposing 1 BTC slides to $9k and all indicators again predicts it will have a rebound, then you can convert/buy $9k/BTC with all your 10k Tether making your new BTC holdings estimated at 1.11 BTC,(less trading fee of course!) thus increasing your BTC portfolio by at least 10 percent but on the condition that you did the right timing on your exit and entry points.
Not use but rather abuse.
They created it then we make use of it.
Instead of risking selling bitcoin into an altcoin we can prevent losses.
It aint like it was before where we get not much of an option. Now it is better to be able to have knowledge with stable coins.
They created it then we make use of it.
Instead of risking selling bitcoin into an altcoin we can prevent losses.
It aint like it was before where we get not much of an option. Now it is better to be able to have knowledge with stable coins.
Stable coins are used wherever they are available on any cryptocurrency exchange. This is clearly seen in trading volumes in pairs with stable coins. The first and most reliable stable coin is, of course, USDT. There are many alternatives for her now, but most traders still use USDT.
I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.
You haven't got what I said. Ok, you see when a bull run comes then the price of the bitcoins will suddenly skyrocket when it reaches its full price, most of the holders will sell their bitcoins simultaneously. on that time, the network will be congested if you convert your bitcoins into fiat. so as an alternative, you have an option to sell it into stable coins then sell it later to fiat. did you get it now?
You forgot about something important and it was also our main problem here is, which was not all of us holding our precious Bitcoin on the exchange.
The network was congested because people moved their Bitcoin from their personal wallets into exchange wallets in order to encash it directly into fiat or any stablecoin.
there is no alternative once the bull run comes if we are holding our Bitcoin on our personal wallet .
I have never seen a more stable token as USDT, in my opinion this is the only token that is always kept in the same price. everything else goes like a piston in the engine up and down
Yeah, it is possible what you said but, stable coins are convenient for short term spot trading. For example, when a signal comes from any altcoin, you change the stable coin to that altcoin, and in the case of price increases, change your coin to stable coin. Because those who are busy with this trade keep their money there for a long time, and keeping it in any coin can cause loss. Converting to the USD itself also means charging more fee. Therefore, stable coins are most suitable. You always keep your investment stable.
I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.
You haven't got what I said. Ok, you see when a bull run comes then the price of the bitcoins will suddenly skyrocket when it reaches its full price, most of the holders will sell their bitcoins simultaneously. on that time, the network will be congested if you convert your bitcoins into fiat. so as an alternative, you have an option to sell it into stable coins then sell it later to fiat. did you get it now?
I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.
You haven't got what I said. Ok, you see when a bull run comes then the price of the bitcoins will suddenly skyrocket when it reaches its full price, most of the holders will sell their bitcoins simultaneously. on that time, the network will be congested if you convert your bitcoins into fiat. so as an alternative, you have an option to sell it into stable coins then sell it later to fiat. did you get it now?
I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.
Actually, one of the best things that happened to crypto are the stable coins indeed. Its the fastest way to lock your gains in this domain, you can't actually gain in crypto (if you're a trader) based on selling your crypto to fiat directly, it simple won't work, because it take time, during that time lots of shit can happen.
Stable coins are great for those who knows when to get out & get in again during discount prices.
Stable coins are great for those who knows when to get out & get in again during discount prices.
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?
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?
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