This is the last chance to exchange stablecoins for Bitcoin - page 2.

S A KHAIR

full member

Activity: 952

Merit: 108

1xBit recovered their reputation

Quote from: samcoin on March 20, 2023, 12:00:59 PM

Quote from: TheUltraElite on March 20, 2023, 10:47:12 AM

Again most people dont care, they will keep stablecoins like any other coin and just flow through this in a couple of months or so. The real problem with stablecoins will however be understood by those who are diligent enough.

Stablecoins have been a controversial subject for years, but we can't deny their importance in the market. Imagine that you couldn't immediately freeze your crypto currency value because there're no stablecoins, how crypto trading would be? Or you need to make a bank transfer every time you want to buy a crypto currency. Therefore,despite naming a specific one, I think stablecoins will always be needed in the market in any form, but increasing the dependence on crypto-backed stablecoins like DAI could mitigate the effect crypto gets because of traditional financial problems.

Yes, stable currency is essential to us, it is the perfect vehicle for us to enter the market and take a profit or stop loss when trading. Despite being entangled in a lot of scandals, they are still widely used today. Many doubts surround USDT, but it has persisted in the market.

Artem Sereda

member

Activity: 96

Merit: 10

Quote from: pooya87 on March 11, 2023, 04:07:00 AM

You should never bag hold stable coins in first place considering how risky they are since they are all more or less centralized with shady companies behind the project controlling everything there is about the coins in and out of circulation. If you want to go out of the market then convert to fiat instead while only using stable coins when you have no other choice.

As for bitcoin price, what we saw was actually very common when a resistance is not broken (ie. $25k) and it is not a big drop as some people may think. It was retesting the support once again and so far it has not resulted in any actual downtrend (price is still at $20k that is the support).
Of course we have the negative news and the FUD to contribute to that fall trying to make it bigger and failing, so far...

It's a logical action. Stablecoins are good to use as an exchange currency. You won't find any other use for them.

samcoin

hero member

Activity: 1358

Merit: 582

Leading Crypto Sports Betting & Casino Platform

It's probable that the fall of SVB and the other banks would be beneficial for Bitcoin in the long run, as people released the meaning of decentralization and to be your own bank. Therefore, the last rise up in price should be due to new capital joining the market, not because of the stablecoins being transferred into Bitcoin. Moreover, the most noted feature in the whole history of Bitcoin prices, is that it always moves against the crowd sentiment, thus confronting the crowd was always a good strategy in Bitcoin trading. The price now is almost double the ATL this cycle, which means volatility is still existing, and Bitcoin is still attractive for risk takers.

Quote from: TheUltraElite on March 20, 2023, 10:47:12 AM

Again most people dont care, they will keep stablecoins like any other coin and just flow through this in a couple of months or so. The real problem with stablecoins will however be understood by those who are diligent enough.

Stablecoins have been a controversial subject for years, but we can't deny their importance in the market. Imagine that you couldn't immediately freeze your crypto currency value because there're no stablecoins, how crypto trading would be? Or you need to make a bank transfer every time you want to buy a crypto currency. Therefore,despite naming a specific one, I think stablecoins will always be needed in the market in any form, but increasing the dependence on crypto-backed stablecoins like DAI could mitigate the effect crypto gets because of traditional financial problems.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: kelechi on March 14, 2023, 10:34:36 AM

I don't it is the last chance to exchange. Stable coins are not gonna disappear

They obviously will not disappear because someone else is going to take their place and then the whole fiasco gets forgotten, because the public memory is low and slow, but this forum and its members do remember.

Again most people dont care, they will keep stablecoins like any other coin and just flow through this in a couple of months or so. The real problem with stablecoins will however be understood by those who are diligent enough.

Still then I hope people concentrate more on bitcoin and buying it when it is low and not speculating the future of stablecoins, because someone will take over.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Maybe this is the last chance for people to exchange their stable coins into bitcoins before something bad happens. But if there are still people who believe that this problem will be resolved properly and still keep their USDC or use it for other purposes, I think that's fine too because each investor has a plan they want to achieve.

So it's true that it's better for them to exchange their stable coin for bitcoin or a promising altcoin because, in this case, many people are worried that there will be even bigger problems later. After all, if they can buy bitcoin with stable coins at a time like this, it could allow them to own more bitcoin even though they bought it at a higher price than some time ago.

Pierre 2

legendary

Activity: 2436

Merit: 1366

I was really worried to watch usdc getting low around 0.90 cents levels. I had usdc in my binance account before CZ announced they will turn them all into busd automatically. It actually saved me from losing money, by luck. Anyways watching Bitcoin hitting like 21-22ks I started buying. When it hit 20-19k levels I was luckily awake (it was very early in the morning) and now I am sitting on profit. Thankfully. My cost of buying is very low so I plan to hodl for year until halving comes.

dansus021

copper member

Activity: 2156

Merit: 983

Part of AOBT - English Translator to Indonesia

Quote from: NotATether on March 14, 2023, 04:04:49 AM

More reasons why you should never use stablecoins for anything other than a temporary trading hedge. Roll Eyes

I Do agree with you but trust me a lot of people still use it when the bear market comes or when they trade on the futures market. Grin

and back if you remember actually there is a lot of news that talks about Stablecoin

1. Tether with their backed USD
2. USDC with SVB bank currently
3. Terra Luna fail
4. Paxos who backed USDP and BUSD against SEC

and Other but look people still gonna use it Lips sealed

and the marketcap is still on the rising Grin

. Crazy Right

kelechi

newbie

Activity: 72

Merit: 0

I don't it is the last chance to exchange. Stable coins are not gonna disappear

NotATether

legendary

Activity: 1568

Merit: 6660

bitcoincleanup.com / bitmixlist.org

Quote from: dansus021 on March 11, 2023, 10:43:15 PM

Lot of stablecoin now at depeged from one dollar which is bad since their host bank filled chapter 11 or fail to pay all. Like the recent news i think is better to convert to crypto before anything goes bad and you cant exchange your stablecoin.

More reasons why you should never use stablecoins for anything other than a temporary trading hedge. Roll Eyes

Cryptmuster

legendary

Activity: 1904

Merit: 1176

Glory To Ukraine! Glory to the heroes!

Quote from: doomloop on March 13, 2023, 11:36:25 PM

First thing to follow for investors is to diversify their portfolios, and when it comes to buying Bitcoin, doing DCA is the best way to go so that they don't miss any price points and even if it dips more or goes up, there will always be a portion of it bought at a better price. So those who diversify and do DCA, will be on the positive side in the long run.

The price hike is a part of the upward movement that we are going to see soon. Though it may drop a little again before going straight up to $25k, this is a signal of that movement and it brings up some positivity among investors.

But what if there was such an idea that the majority would now believe that this is the last chance to exchange stablecoins for bitcoin? What is happening now in the market and the way it is presented to us needs to be very well thought out, no hasty conclusions should be drawn, and even more so, there is no need to follow everyone and succumb to the herd reflex.

doomloop

hero member

Activity: 2408

Merit: 584

Quote from: Yatsan on March 13, 2023, 08:10:42 AM

There was a sudden spike with the market price of Bitcoin which is half expected given that the market price dipped til' $20k and that is the buyer's area perhaps. Diversification the other hand would work if you would be making the right choices 'coz if not, risk will just be bigger because the goal of diversification is also to diversify and avoid all of your assets on losing marks. So if you happen to diversify and things did not turn better, then that is where problem should be addressed with token choices. There are many altcoins to choose from but the fact that there is no clear trend line, gives second thought to investors whether to enter already or to wait for a little longer. Bitcoin would be a great choice but avoid thinking of an instant profit.

First thing to follow for investors is to diversify their portfolios, and when it comes to buying Bitcoin, doing DCA is the best way to go so that they don't miss any price points and even if it dips more or goes up, there will always be a portion of it bought at a better price. So those who diversify and do DCA, will be on the positive side in the long run.

The price hike is a part of the upward movement that we are going to see soon. Though it may drop a little again before going straight up to $25k, this is a signal of that movement and it brings up some positivity among investors.

Hallroom

member

Activity: 742

Merit: 21

Quote from: Popkon6 on March 12, 2023, 10:31:24 AM

I

Quote from: Popkon6 on March 11, 2023, 02:41:36 AM

So I want to know from you guys, am I on the wrong/right track?

Investors find a way to invest when the Bitcoin market declines. And if there is growth then the right idea for sales. It is normal for the Bitcoin market to go lower and higher because the more the market goes up and down, the more investors will benefit from their trading success. So when the price of BTC was 19k it was the right time to invest.

tjtonmoy

sr. member

Activity: 1008

Merit: 366

Bitcoin price is volatile and that's why people could take that as an advantage and make profit out of it. It's never too late to join. And why do you think that this will be the last chance? Even if you buy at $30k, there will still be profits in the long run. You are only talking about the short term investment return. Well you can do that, but in order to see the bigger picture, you need to have patience and faith. Also talking about price movements so confidently doesn't suites a Bitcoiner. What if the price falls to $10k or below? What would you say then?

SquallLeonhart

legendary

Activity: 2464

Merit: 1102

Quote from: yazher on March 13, 2023, 06:03:32 AM

Quote from: michellee on March 12, 2023, 10:40:30 AM

I don't know if this is the last chance to buy bitcoins or if we still have more opportunities. I only know that we can buy bitcoins at low prices. Of course, we can take advantage of this moment to buy a lot of bitcoins because the price is already low, but that doesn't guarantee that the price won't go back down because it looks like economic market disruptions will continue.

As we are talking, the price went up to 9.38% and this is a huge increase in just 24 hours the people who invested yesterday with a huge amount of money, surely are now celebrating, and the price is not yet finished increasing because there seem to have problem with the stablecoins right now and they also want to migrate their investment to bitcoins. Many think the price drop was gonna fell even lower than before but they were absolutely wrong and now the price might gonna reach up to $30k+ if they really meant to seriously switch their investment into bitcoin.

I mean it was obvious that bitcoin would go back up, there was nothing wrong with it, on top of that all these "bad news" were bad news for fiat and not for crypto. With the way banks look like they are going to do a bit worse this year, it is smart to keep your money in bitcoin. That way if there is a money printing, or some bail out or something that goes bankrupt again, all of that would be fine for us because bitcoin would be a safe haven that we could invest our money into.

A lot of people realized this at the same time and they all went and jumped on bitcoin and bought a lot. This of course made the price go up and I do not think that we will go down anytime soon.

Edwardard

hero member

Activity: 1050

Merit: 681

Quote from: Popkon6 on March 12, 2023, 07:40:52 PM

My benefit came from the small amount I converted from stablecoins to bitcoins. But if I had deposited coins I would not have seen this income. Bitcoin price is likely to rise a bit moAnd I am very happy to see my benefits.

I am happy for you as well mate. But I suggest you to book some of your gains here (atleast 50-60% so you can have something again to reinvest later) as the market is still unclear about the next FED's commentary. There is an emergency meeting today regarding the silicon valley collapse and JPOW will have a speech as well. Then tomorrow again a new CPI data will be out. Markets could react brutal in both ways. Also, technically 22.8k is a resistance on the 4hr chart (200ma). It wouldnt break it easily if the news isnt on our side. There's a good chance to revisit 20k again before going up imo.

EDIT: Woops, seems like I was brutally wrong about my prediction. It pumped in straight line beyond the resistance lol :/

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

Quote from: Ziskinberg on March 13, 2023, 07:22:57 AM

Quote from: Popkon6 on March 12, 2023, 07:40:52 PM

Quote from: dimonstration link=topic=5444443.msg61900013#msg61900013

snip...

My benefit came from the small amount I converted from stablecoins to bitcoins. But if I had deposited coins I would not have seen this income. Bitcoin price is likely to rise a bit moAnd I am very happy to see my benefits.

It happens because you have trusted Bitcoin more than stablecoins and you were able to hold until getting the desired price to sell.
Perhaps, the idea of diversifying our portfolio from stablecoins to BTC or altcoins has already been spreaded around. We can make a good profit from doing this especially if we got in perfect timing. You have did it right and you can still do more as long as you were not afraid to hold and not easily affected with your emotions and FUDs.

There was a sudden spike with the market price of Bitcoin which is half expected given that the market price dipped til' $20k and that is the buyer's area perhaps. Diversification the other hand would work if you would be making the right choices 'coz if not, risk will just be bigger because the goal of diversification is also to diversify and avoid all of your assets on losing marks. So if you happen to diversify and things did not turn better, then that is where problem should be addressed with token choices. There are many altcoins to choose from but the fact that there is no clear trend line, gives second thought to investors whether to enter already or to wait for a little longer. Bitcoin would be a great choice but avoid thinking of an instant profit.

Ziskinberg

hero member

Activity: 3010

Merit: 666

Quote from: Popkon6 on March 12, 2023, 07:40:52 PM

Quote from: dimonstration link=topic=5444443.msg61900013#msg61900013

snip...

My benefit came from the small amount I converted from stablecoins to bitcoins. But if I had deposited coins I would not have seen this income. Bitcoin price is likely to rise a bit moAnd I am very happy to see my benefits.

It happens because you have trusted Bitcoin more than stablecoins and you were able to hold until getting the desired price to sell.
Perhaps, the idea of diversifying our portfolio from stablecoins to BTC or altcoins has already been spreaded around. We can make a good profit from doing this especially if we got in perfect timing. You have did it right and you can still do more as long as you were not afraid to hold and not easily affected with your emotions and FUDs.

yazher

hero member

Activity: 2268

Merit: 588

You own the pen

Quote from: michellee on March 12, 2023, 10:40:30 AM

I don't know if this is the last chance to buy bitcoins or if we still have more opportunities. I only know that we can buy bitcoins at low prices. Of course, we can take advantage of this moment to buy a lot of bitcoins because the price is already low, but that doesn't guarantee that the price won't go back down because it looks like economic market disruptions will continue.

As we are talking, the price went up to 9.38% and this is a huge increase in just 24 hours the people who invested yesterday with a huge amount of money, surely are now celebrating, and the price is not yet finished increasing because there seem to have problem with the stablecoins right now and they also want to migrate their investment to bitcoins. Many think the price drop was gonna fell even lower than before but they were absolutely wrong and now the price might gonna reach up to $30k+ if they really meant to seriously switch their investment into bitcoin.

Popkon6

sr. member

Activity: 784

Merit: 372

Quote from: dimonstration link=topic=5444443.msg61900013#msg61900013

Well converting stablecoin especially USDC to Bitcoin is not a bad idea to avoid possible risk of losing in case bank run from customer will happened tomorrow. The tomorrow action of bank user will be the decision maker on what’s gonna happened on crypto market since USDC collapse will surely give a negative impact too on Bitcoin on short term due to the panic on crypto market.

I’m currently holding on fiat that sits on my bank account and avoid crypto as much as possible except for my initial investment on crypto that I purchased on lower price. There’s no guarantee that Bitcoin will be safe on the price dump but there’s a chance that Bitcoin will pump too if user use it as a safe haven against this stablecoin FUD.

Atleast on Bitcoin you can sleep peacefully rather than risking your money on USDC that just have a 5% profit margin when its repeg to 1$.

My benefit came from the small amount I converted from stablecoins to bitcoins. But if I had deposited coins I would not have seen this income. Bitcoin price is likely to rise a bit moAnd I am very happy to see my benefits.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

I don't know if this is the last chance to buy bitcoins or if we still have more opportunities. I only know that we can buy bitcoins at low prices. Of course, we can take advantage of this moment to buy a lot of bitcoins because the price is already low, but that doesn't guarantee that the price won't go back down because it looks like economic market disruptions will continue.

But the decision to invest in bitcoin at this time or wait must be really considered because the crypto market conditions are still as volatile as they are now. Maybe I can only suggest buying a little first to see the market reaction and if indeed the market price drops again, we can place a purchase order at the price we want. And stay alert to the current conditions because the movement is still difficult to know.

Topic: This is the last chance to exchange stablecoins for Bitcoin - page 2. (Read 597 times)