The use of stable coins or no? - page 9.

magneto

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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?

It's not up to us to decide what the market wants.

If there is demand for these stablecoins they will continue to exist - it's really as simple as that.

While personally I would never really use a stablecoin for anything other than transacting and certainly not anything related to storing value long term, the market with especially larger investors who live areas with ambigious crypto regulations obviously see value in using such means of payment.

I just don't feel like that the added risk of another counterparty is worth it, tbh.

Ucy

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Quote from: minersday on October 06, 2019, 09:05:28 AM

From my personal observation and some research, I realized that stable coins are meant to present the true value of money with no volatility in terms of price fluctuations. they were developed to help increase the adoption of cryptocurrencies. But I have also realized that, stable coins are mostly as a trading pair to most of the top crypto coins. Investors and traders use stable coins to trade for Bitcoin and altcoins to no the particular rate which the price of a particular coin is either increasing or decreasing in value.

"True value" shouldn't depend on fiat currency for value. Cryptocurrency is independent of fiat and its centralizion. This is part of what true value should mean, if you ask me.

Quote

Investors and traders use stable coins to trade for Bitcoin and altcoins to no the particular rate which the price of a particular coin is either increasing or decreasing in value.

Agreed. It's one of the main reasons cryptocurrencies are paired with stablecoins. Stablecoin probably won't be necessary in Crypto space when majority of people on earth begin to use cryptocurrency for most of their trading activities.

minersday

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From my personal observation and some research, I realized that stable coins are meant to present the true value of money with no volatility in terms of price fluctuations. they were developed to help increase the adoption of cryptocurrencies. But I have also realized that, stable coins are mostly as a trading pair to most of the top crypto coins. Investors and traders use stable coins to trade for Bitcoin and altcoins to no the particular rate which the price of a particular coin is either increasing or decreasing in value.

landoffaucets

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Stable coins are good in a time when you would like to stay in the market but you are waiting for a better price. Example: Bitcoin is falling down, you know it, you exchange BTC for USDT, then wait for a bottom and then you buy back with your USDT. You don´t have to pay fees connected to deposit, withdrawals between crypto and real dollars.

Taskford

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Quote from: pant-79 on October 06, 2019, 08:14:38 AM

Quote from: hdtqisg on October 05, 2019, 06:41:40 AM

Stable coins will hold your value when you have not chosen an investment decision in short times. But it will not be suitable for hold in the long time. Because it only has the ability to keep the value or lose value.

The use of stable coins cannot be over emphasised for me as a trader. I don't hold for long because there's really no profit or loss to be recorded from holding. Even if there's, its quite negligible for me. What I do is trade stable coins against altcoins to cushion market volatility. For example, if I place an order in btc or eth pair with 600 usd worth of coin, if there's a dip, before my order fills, I might come back to meet 300usd worth of eth/btc which is not acceptable by me

The one I can see on stable coin is we cannot lose a value when downtrend comes and we can sleep with at ease since we all know that there's nothing gonna happen since whatever the market shape we will get the same value, but it will never empress me really since as a trader also I need volatile or market movement since by this I can earn a profit and I cannot get those if we will go to the stable coins around.

imstillthebest

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Quote from: Bitfling on October 06, 2019, 08:21:22 AM

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?

Stablecoin is used because the cryptocurrency market is still not regulated by many countries, even some banks do not want to be used as a means to transact crypto. If the government regulates the crypto market, I think that stablecoin will gradually be useless because investors will prefer to trade directly using fiat money or even through their banks.

but afaik stable coins were also a crypto and you said banks dont accept a crypto ? or unless they have make exemption for stable coins because its back by usd . regulated or unregulated all users have the ability to convert thier crypto on the payment of thier choice because many platforms online are now offering trades from different range of currencies including cryptos . i think stable coins wont be built if they arent better than converting your crypto straight to fiat . this is why many peeps are still using it

Bitfling

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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?

Stablecoin is used because the cryptocurrency market is still not regulated by many countries, even some banks do not want to be used as a means to transact crypto. If the government regulates the crypto market, I think that stablecoin will gradually be useless because investors will prefer to trade directly using fiat money or even through their banks.

pant-79

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Quote from: hdtqisg on October 05, 2019, 06:41:40 AM

Stable coins will hold your value when you have not chosen an investment decision in short times. But it will not be suitable for hold in the long time. Because it only has the ability to keep the value or lose value.

The use of stable coins cannot be over emphasised for me as a trader. I don't hold for long because there's really no profit or loss to be recorded from holding. Even if there's, its quite negligible for me. What I do is trade stable coins against altcoins to cushion market volatility. For example, if I place an order in btc or eth pair with 600 usd worth of coin, if there's a dip, before my order fills, I might come back to meet 300usd worth of eth/btc which is not acceptable by me

studio1one

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BintexFutures

I usually use stable coins just for trading purposes never have I hold stable coins for more than a week. But it's true if you keep holding stable tokens you would easily be able to buy/sell tokens.

Pinkris128

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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 coin can serve as a buffer or to resolve the market. As investment, the stable coins have the reputation in manipulating the market just to survive. Not everyone likes it because they are almost like centralized banks. They also have issues just like what happened to GUSD. Even "partly - centralized" coins still experience volatility.

target

legendary

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The only use of stablecoin I know is to trade is in BTC/USDT, this is best pair to trade when you wanna grow either your USDT and BTC. But what I've also learned we can move our USDT to our ETH wallet. Maybe one day we can spend these USDT and any other stablecoin to spend on something like online stores.

gaston castano

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stable coin already exist for example USDT and laready many more come like PAX usdc,True usd, so people will not getting worried again, as you say while bull come, people will use fiat for transaction.
of course this alternatif can be accepted.

nicecrypto

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Stable coins are good in times like this when the on market is on the red, many and not traders use stable coins to maintain the value of their investment from going down, stable coins is very useful during bear market.

mihtju

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I also often use the stable coins to lock in profits. But I don't keep them for long. Then withdraw some of them to Fiat, and for the remaining amount I buy bitcoin or altcoins, when their price decreases again.

Bitcoin Seller

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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?

Stablecoins are needed. In many countries, people are helpless in the face of poor economic policies and the devaluation of the national currency. An excellent example is Turkey. When the national currency collapsed, the volume of BTC in local markets increased. However, in this situation, turning to Bitcoin is not the best solution. It allows you to save capital from the weak monetary policy but remains exposed to extreme market volatility. Stablecoins are a more reliable alternative for people with weak economies.

Convery

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Thanks to stable coins and platforms like NEXO we can get up to 7% interest per year! This is a huge return that you can't get anywhere else.
But still I see bigger potential in Bitcoin that can make tens of percent per year.

GGmith

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Stable coins only dominate fixed price movements, I observe like USDT, the rise and fall of stable coins depends on dollar price movements. and I don't think it's a bad idea to use stable coins to secure your investment. but I prefer investing in cryptoqurrency which is not a stable coin, even though it's risky.

Shepard777

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Quote from: Impaler on October 05, 2019, 11:43:55 AM

Stable coins are backed by fiat so people don't hold it as investment. But its very useful during convertion. Its not about bull or bear market you can see the volume of stable coin. I used a lots of stable coin.

Please tell me which stable coins you use, since I have been using tether for a long time and have not tried anything else. I don’t like the tether bad news all the time about it. But other alternatives are not credible to me.

Impaler

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Stable coins are backed by fiat so people don't hold it as investment. But its very useful during convertion. Its not about bull or bear market you can see the volume of stable coin. I used a lots of stable coin.

Alexandr Kirichenko

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I very rarely use stable coins. This is a tool that is mainly invented for traders. personally, he's useless to me. I don't trust any stable coin. Can be in the future that will change, but now this is so, this simply candy wrappers which nothing not endowed and not backed by in financial equivalent.

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