The use of stable coins or no? - page 3.

BartS

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Quote from: lolgato1 on November 28, 2019, 05:33:55 PM

Quote from: alt-fire on November 28, 2019, 03:09:26 PM

Quote from: yazher on October 04, 2019, 07:41:10 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?

That is not bad idea - to invest in stable coin. But this stable coin should be trusted and have a good volume. Such good is like USDT or USDC. That is much trusted coins. Another good stable coins can arrive but need more time.

What the...? Invest into stable coin? Are you kidding? Do you think that you are really investing? It is something like to say, I am going to invest into american dollar. Cheesy

You don't seem to understand that everything is an investment, if you are holding all your savings in your national currency then you are invested in that currency, and if for some reason it begins to lose value against the rest of the currencies then you are losing money.

It is the very same concept that allows you to trade bitcoin against the dollar and if you can sell it and buy it at the right time you can get more bitcoin in return, so I do not really understand why you are so surprised that something like that can be done and sometimes it is even a desirable thing to do.

lolgato1

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Quote from: alt-fire on November 28, 2019, 03:09:26 PM

Quote from: yazher on October 04, 2019, 07:41:10 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?

That is not bad idea - to invest in stable coin. But this stable coin should be trusted and have a good volume. Such good is like USDT or USDC. That is much trusted coins. Another good stable coins can arrive but need more time.

What the...? Invest into stable coin? Are you kidding? Do you think that you are really investing? It is something like to say, I am going to invest into american dollar. Cheesy

Yamifoud

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Quote from: royalfestus on November 28, 2019, 03:43:51 PM

Quote from: sayaya17 on November 28, 2019, 12:16:43 AM

snipped...

Except for the store of value for profit in cryptocurency, Government authorizing or producing stable coin is just a way to protect laundering of fund in countries with corruption, and I dont think there is a country without corruption, it might only be concealed. it might be difficult to monitor the movement if adequate block-chain technology is not put in place. If I checked very well most people after the last bullrun move their money into fiat later on, though not all details are spell our here among investors

I'd never think that it is all about market corruption concerns why the Government allowing us to have crypto. This is all because they saw that the use of stable coins could minimize the risk of losing due to its volatility. Price fluctuation is the reason why most people are afraid of investing in crypto. However, if we are only investing those high potential coins in the market, it can be assured that we make money from them even though the volatility still evident.

royalfestus

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Quote from: sayaya17 on November 28, 2019, 12:16:43 AM

Maybe if every country has a stable coin in the form of crypto and not fiat, I could have kept the stable coin because it was authorized by the government in our country. But for now I do not use stable coins, I am more pleased with LTC or ethereum, because they are also stable and profitable if we sell in a state of going up, and then they will return to stable.

Except for the store of value for profit in cryptocurency, Government authorizing or producing stable coin is just a way to protect laundering of fund in countries with corruption, and I dont think there is a country without corruption, it might only be concealed. it might be difficult to monitor the movement if adequate block-chain technology is not put in place. If I checked very well most people after the last bullrun move their money into fiat later on, though not all details are spell our here among investors

alt-fire

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Quote from: yazher on October 04, 2019, 07:41:10 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?

That is not bad idea - to invest in stable coin. But this stable coin should be trusted and have a good volume. Such good is like USDT or USDC. That is much trusted coins. Another good stable coins can arrive but need more time.

Kingairdrop

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Quote from: yazher on October 04, 2019, 07:41:10 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 currently the most used pairs now. New projects no longer wants to pair their tokens with btc and eth alone they also want it to be paired with usdt, busd, usdc,paxful and the rest. it has gotten to a point where new projects dont even want to have any other pair aside USD. so i believe the time has changed and this is a welcome idea by project owners and cryptocurrency exchanges. thanks

BartS

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Quote from: shaheer001 on November 23, 2019, 03:08:35 AM

Stable coins are a great entry in crypto trading platforms as these stable coins always save you from a big loss and when you realize market going up then you can convert with crypto coins as per the platform trading altcoins.

Stable coins really shine when the market is going down, anyone that was able to sell when the market was going down during the previous days saved himself many headaches.

And if that person had a good trading system and was able to buy at the bottom and bought when bitcoin was at 6500 then not only he was able to get more bitcoin for his fiat but now for each coin that he bought he has got a 1000 dollars in profits in a matter of days which is not too bad if you ask me.

Fatimahcrypto

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Quote from: yazher on October 04, 2019, 07:41:10 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?

I can personally say that stable coin like USDT is a great alternative for fiat. This is because the USDT has stood the test of time and conquered several Obstacles and challenges at several occasions. I trust that the USDT would serve when am unable to exchange my tokens for fiat and want a way out

sayaya17

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Maybe if every country has a stable coin in the form of crypto and not fiat, I could have kept the stable coin because it was authorized by the government in our country. But for now I do not use stable coins, I am more pleased with LTC or ethereum, because they are also stable and profitable if we sell in a state of going up, and then they will return to stable.

starblocks

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What you are referring to is hedging and there are many stablecoins suitable for doing so depending on which reputable exchange you are dealing with including the most popular which are Tether (USDT), USD Coin (USDC), True USD (TUSD), Binance USD (BUSD), and Gemini Dollar (GUSD) just ensure the markets you're trading in have enough liquidity and low fees and always store any sizable amount of cryptocurrency in a hardware wallet for safe keeping and most of the top hardware wallets have support for those stablecoins

letyouearn

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Stable coins are good for Crypto/USD trading, but I would be very careful when considering them as an instrument for holding your fiat money in longterm... Don't really trust these projects.

huige007

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Quote from: SolarWindMiningCompany on November 26, 2019, 08:32:22 AM

Quote from: kostepanych2 on November 22, 2019, 09:54:12 AM

I don't trust stable coins...
I think they can turn into scam in every moment. Also, governments may want to kill them...
So I think, stable coins can be used only for short-term holdings.
But I hope, they will be much more reliable in future and we will be able to use them like fiat currency...

I do not totally agree with you because all you have to do is trade with the more reputable stable coins like usdc and usdt andif you are skeptic that one may turn out to be scam, then maybe cryptocurrency is not for you because any of the cryptos can liquidate or even assumed to be scam but that doesn't mean its scam. As for me, I do most of my trades against usdt on exchanges because while I set my price and wait to buy low, stability is important for me

Stable coins are no doubt, better options than many new altcoins that later on prove to be scam. Usdt is trusted and supported by many investors and the coin definitely is not scam. If it was the case ever, we already would have lost it. Moreover, not all the coins are weak or frauds. We can doubt any coin but having such thoughts regarding bitcoin or ethereum makes no sense when they have survived so far.

nicecrypto

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Stable coins are imported part of this space i think, most people preserve their assets value with stable coins because of the high volatile nature of the market, infact coins that paired in stable coins only hardly suffers so much decline in price like the ones on btc pairs, trading with stable coins at this time when the market is down is more safer than btc.

dnsokoljuk

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Quote from: yazher on October 04, 2019, 07:41:10 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?

I think that we only can trust in such stable coins like USDT. But now I found a something new and very promising - it USD0. I have very big hopes in this coin.

SolarWindMiningCompany

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Quote from: kostepanych2 on November 22, 2019, 09:54:12 AM

I don't trust stable coins...
I think they can turn into scam in every moment. Also, governments may want to kill them...
So I think, stable coins can be used only for short-term holdings.
But I hope, they will be much more reliable in future and we will be able to use them like fiat currency...

I do not totally agree with you because all you have to do is trade with the more reputable stable coins like usdc and usdt andif you are skeptic that one may turn out to be scam, then maybe cryptocurrency is not for you because any of the cryptos can liquidate or even assumed to be scam but that doesn't mean its scam. As for me, I do most of my trades against usdt on exchanges because while I set my price and wait to buy low, stability is important for me

shaheer001

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Stable coins are a great entry in crypto trading platforms as these stable coins always save you from a big loss and when you realize market going up then you can convert with crypto coins as per the platform trading altcoins.

BartS

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Quote from: X-ray on November 19, 2019, 12:02:59 AM

Quote from: BartS on November 18, 2019, 11:48:16 PM

There are many out there that do not like stable coins but they are very useful regardless if you are a trader or an investor, for an investor stable coins are of great help since they can protect you when the market is going down and you do not want to face the the bear market.

And if you are a trader stable coins can help you when the volatility of the market is too high and you prefer to wait until it passes and we can see an example of this today, with the market going down it is better to get stable coins until you think the price has a chance to recover.

The very essence of stablecoin is for the sole purpose of saving wealth from the massive volatility and fluctuation and there's definitely nothing wrong with that. it just acts as a digitalized version of USD and that's a lot better option that directly convert to USD which involves a lot of complication however the problem is if the company have the absolute authority over their coin and as a result they could print money out of thin air while there's no addition to the reserved fund without the public knowing just like happened back in the past and that's a disaster.

That is definitely a problem, stable coins require that we trust the entity releasing their coins and that they are backing each one of their tokens with one dollar or whatever fiat currency they are using.

And many do not like this because those coins are basically the cryptocurrency version of fiat and we need to trust a centralized institution to not deceive us, but despite all the points against it we cannot deny their usefulness and they have helped this market to grow faster than what it could have happened without them.

mirgo1791

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users of customs with product and service from blockchain developer might defines of one with decision on managing business as applying selection to use of token on tasks with exchange and gains with benefit as appealing works on manage with the task on accounting.

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btcdie

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Quote from: kostepanych2 on November 22, 2019, 09:54:12 AM

I don't trust stable coins...
I think they can turn into scam in every moment. Also, governments may want to kill them...
So I think, stable coins can be used only for short-term holdings.
But I hope, they will be much more reliable in future and we will be able to use them like fiat currency...

as you thought, stable coins can also turn into fraud. the beginning of the creation of a stable coin must really be real, like 1 Tether = there must be real fiat money worth $ 1 USD or like 1 stable coin = one gram of gold. People could run away later, like bubbles (exploding and disappearing). one of the functions of a stable coin is to save assets when the market trend is down and handle it, like the current example BTC -10%.

Not too hopeful with a stable coin, I think paypal is quite useful. it's just that stable coins are very helpful for traders.

kostepanych2

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I don't trust stable coins...
I think they can turn into scam in every moment. Also, governments may want to kill them...
So I think, stable coins can be used only for short-term holdings.
But I hope, they will be much more reliable in future and we will be able to use them like fiat currency...

Topic: The use of stable coins or no? - page 3. (Read 1980 times)