Usefulness of stablecoin | Bitcointalksearch.org

tanjiran

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Quote from: BlacksmithCorporation on May 10, 2020, 11:09:16 AM

In theory, just like you described, keeping stablecoins waiting for BTC to go down to buy and sell at high prices, Stablecoins can help you quickly buy good prices. But the reality is the hardest part is that when BTC drops $ 3500, how many people are brave enough to buy it?

At that time, people buy stable coins to secure assets, to avoid greater losses while still being in the market. So when prices are conducive, they can quickly get their dream coins or tokens again.
Such an increase is very rare, we will lose many moments when only focusing on stablecoin. The key, use and get stable coins according to the right timing.

7788bitcoin

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Quote from: Clement Kaliyar on May 10, 2020, 05:44:45 PM

There are local exchanges that supports your currency and i am comfortable holding that than these shady coins.

There is nothing wrong in holding the coins in stable coins for a short period of time, majority of the traders does that especially day traders and if there is a accusation that could doom the coin then it will be well documented and if that is the case then it is wise to stay away from it, until then it is fine to hold for short period of time and if you are trading in exchanges that supports Euro and USD then you can store your money in those.

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Quote from: DoublerHunter on May 10, 2020, 10:42:14 AM

it is still useful to save stable coins as it can help us when we need it on the best buying time.

It is good to have a stable coin that can be trusted but that is not the situation we have, almost all of the coins are shady at best and even recently millions of USDT are minted and you can only assume that they are holding the equivalent in banks. There are local exchanges that supports your currency and i am comfortable holding that than these shady coins.

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

~you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

No, this is not easy. Stablecoins tend to be stable prices, price movements are very slow. Need extra patience. Extreme changes occur when there are extreme changes in the market related to BTC, but it is not a routine and very unpredictable moment. If this is the only way you have missed another good opportunity.
The risk tends to be small if holding a stable coin, comparable to changes in low prices.

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Quote from: Em00n01 on May 10, 2020, 05:01:27 PM

Yes this is very useful during the bear market. I have used it many times but only for short term. Because USDT is not audited by others third party organization. So for short term it's okay for hold and doing dat trade. But don't go for long term.

I will also do the same, not for long term. Do you remember when Tether admitted that they really have no 100% backing of US$? So I don't know about their real status but it is hard to trust a project that once had lied to its users. Stable coin may have benefits but don't hold it too long. It may collapse anytime so be prepared for it.

cytpoway121

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Stable coins are versatile coins and hardly can you get profits trading stable coins.

But they are safe havens, the fastest way to avoid a bear trap is by selling your portfolios to Stable coins.

The best way to buy the dips at the bear market is by holding stable coins and waiting patiently.

Either usdt or tusd, or busd, stable coins makes alot of stuffs easy while trading

Em00n01

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Yes this is very useful during the bear market. I have used it many times but only for short term. Because USDT is not audited by others third party organization. So for short term it's okay for hold and doing dat trade. But don't go for long term.

Gab20

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Apart from holding your Stablecoin until you see the market plunge, there some people who trade STablecoin ordinarily. So, while waiting for the opportunity to buy when the price of bitcoin becomes very low, they will continue to trade to make some little profit.
While others see it as not being useful, there are those who see the usefulness and are making use of it.

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I would say they are hated and they are crooks and they are corrupt and many other bad things, but at the same time I can't deny that stablecoins are very useful neither. I just love the idea of stablecoins a lot, however execution is horrible. Something as important as over a billion dollars in stablecoins shouldn't be let to some company, bitcoin has hundreds of billions of dollars but it is decentralized and there is absolutely no company that owns bitcoin or anything like that, neither does ethereum has that.

Only xrp is tied to a company called Ripple which is why I hate that too, and tether also is owned by a company and I think we should know centralized crypto currency like that and give tether company billions to be responsible for, if they steal all them money and run away, there is nothing we can do to them.

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In theory, just like you described, keeping stablecoins waiting for BTC to go down to buy and sell at high prices, Stablecoins can help you quickly buy good prices. But the reality is the hardest part is that when BTC drops $ 3500, how many people are brave enough to buy it?

DoublerHunter

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

^ Good idea but we still cannot predict when we will have the pump and dump on bitcoin's price. For whales, it is a good strategy for they can manipulate the trends in the market but for small investors who cannot predict the pump and dump on bitcoin's price then it will be difficult for them to know when will be the best time to use their stable coins and buy bitcoins. Nevertheless, it is still useful to save stable coins as it can help us when we need it on the best buying time.

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I think stable coins are intended to secure assets only. to trade better on non-stable coins, because as we know, non-stable coins are faster to get profits. The risk is indeed very big, but as long as we can be careful and always update the news, everything is still possible.

Towerbreeze

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Bitcoin price will always go up and down, it's 100% volatile so holding stablecoin is not bad at all, you can take advantage of both bear and bull market by buying back when bear is alive and selling when bulls comes around

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Quote from: Crypto_lion on May 10, 2020, 04:05:36 AM

Ideally stable coins are usually backed by physical nassets equal to the value of them in circulation so that they can safeguard the holders against the volatility of the crypto markets.

Yes, that's why stable coins are often used by those traders to store temporary assets, because the value of stable coins that are always maintained and very rarely go down like other coins on the crypto market.

Serious475

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

Yes I think that in cryptocurrencies it is important to have backup plans because we dont know when the prices eill go up and go down because I xan say that here in cryptocurrency everything is unpredictable so we should always have backup plans incase there is something wrong and there is no bad that will happen fron that because I am sure that it will benefit yoy. I think that stavle coins is truly helpful during the times that bitcoins is down because peoole still earn money even though thet are only using stablecoins.

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Quote from: Mighty_crypt on May 10, 2020, 07:23:59 AM

For day trading stable coin is the right choice, what OP is trying to say is the time will always come for stable coin, buying back when time is down with stable coins will earn you double or even triple of more coins

Yes, obviously that is a good strategy for now, because storing assets in stable coins also benefits everyone, and will also give more coins if someone buys coins using stable coins when prices decline again.

thisnewcoin

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I got your point and honestly, I agree with you! Converting crypto into stable coins in on time is a great idea! I saw many people converted their Bitcoin to USDT/USDC when the price was 8000$, then suddenly the price dumped highly and became 3800$! That time some of my brothers bought back Bitcoin at 4000$! and they were holding till yesterday! So, you see they already doubled their money! My strategy is same here, I just need more money to do so!

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

Do you mean that USDT is good to hold than BTC? I think you are in the wrong perception. Stable coins are not good for holding in the long term because they are stable and you maybe will not earn profit from it. Unlike BTC, it will fluctuate every now and then, if you know how to manage this, for sure you will gain profit than holding USDT. Commonly traders are use stable coin in trading not for holding.

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Quote from: mdzahed134 on May 10, 2020, 09:25:02 AM

Quote from: Crypto_lion on May 10, 2020, 04:05:36 AM

Ideally stable coins are usually backed by physical nassets equal to the value of them in circulation so that they can safeguard the holders against the volatility of the crypto markets.

Which assets backed by these stable coins i did not heard ever. Even though a lot of contradictory are behind all of such coins. These can support in the bear market to replacing in safe place, it’s a potential role of stable coins, without this case i don’t see other usefulness in the market.

I don't think there is any certainty what kind of coin has the support of a stable coin but I feel we have a semi-stable coin system which means it only has price movements depending on the movement of USD from exchanges in all countries.

mdzahed134

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Quote from: Crypto_lion on May 10, 2020, 04:05:36 AM

Ideally stable coins are usually backed by physical nassets equal to the value of them in circulation so that they can safeguard the holders against the volatility of the crypto markets.

Which assets backed by these stable coins i did not heard ever. Even though a lot of contradictory are behind all of such coins. These can support in the bear market to replacing in safe place, it’s a potential role of stable coins, without this case i don’t see other usefulness in the market.

Ryushin

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It's good to have some stable coin just in case, but OP is not different from having Fiats who can use to invest in crypto, no difference, if Bitcoin goes down to unpredictable price it's a good time to buy, either with stable coin or Fiat they serve same purpose

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

Yeah holding stable coin is a good idea, even if their prices decrease it doesn't beyond reasonable or acceptable one. This is what investors make use of most of the times. They hold stable coins, wait for the bearish market and buy a lot of coins with those stable coins.

Iyeman

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Quote from: Mighty_crypt on May 10, 2020, 07:23:59 AM

For day trading stable coin is the right choice, what OP is trying to say is the time will always come for stable coin, buying back when time is down with stable coins will earn you double or even triple of more coins

I thought that he meant about the usefulness of stable coin to be a safe place to secure our money from the bearish market and then try to take the bearish market as an entry point to generate a lot of profit instantly.
he wanna say that to us but he forget if the bounce after the bearish market can't be predicted easily.

People are still betting on it.

yazher

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Stable coins are a huge help when it comes to safely convert your BTC to it. because as you can see when a Bull run comes, there will be huge traffic in the crypto market. that will make your transactions pending in a long time. this has happened before so we need to take an initiative on how we can counter such scenario and this will be when stable coins became a huge help for us because we will no longer need to convert out coins into fiat rather convert it first into stable coins and later on convert into fiat when the crowds are gone.

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Stablecoin is one of the best things that have ever happened to crypto sphere. Stablecoin has saved so many faces during bear. Many of us have been able to cut our loss by converting our coins to stablecoins. Every smart crypto enthusiasts will know that Stablecoin is the real deal.

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Stablecoin is more like a reserved fuel. that fuel you use to restoring the strength of your portfolio. It has both its advantages and disadvantages. It will not be advisable to make all your reserve as Stablecoin, because that is not the mindset of an investor. Whether the market is down or not, you should always take advantage of every moment.
If the market is dumping, you right not be able to tell the extent to which it will fall. Just buy when you see a good dip and reserve some. If it dips again, by ore and reserve and do that continuously. Although, this will be more effective for bitcoin and when any of the stages of buyer pump above the buying price, you can now start selling.

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

But how do you find out there is huge dump is coming to the market? You will convert into stable coins when it reaches certain price or you are doing it in random process or just go with your own analysis?

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

stablecoin doing a great role if Bitcoin down about $ 3500 for stablecoin it will rise as stablecoin usdt and USDC coin is almost as if the same. Bitcoin around $ 10k price will drop dramatically only stablecoin I experienced this when I bought stablecoin when the price of Bitcoin $ 9k- $ 10k to this day I still hold around 500 usdt. usdt with a price reduction of around 1% to the USD exchange rate.

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

The fact that you might get lucky holding stablecoins and the market dumps hugely, and then you buy coins cheap doesn't make you the best crypto trader. I agree with you that it's good to have a part of your portfolio in stablecoins, which I've been doing but at a point I feel the market is leaving me behind, then I enter BTC or ETH to ride the uptrend. This happened to me last week. Its never easy to just hold stablecoins, well a nice strategy 👌

Mighty_crypt

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For day trading stable coin is the right choice, what OP is trying to say is the time will always come for stable coin, buying back when time is down with stable coins will earn you double or even triple of more coins

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Quote from: Janus101 on May 10, 2020, 07:17:02 AM

Don't know, stablecoin sure is great to flip between it and bitcoin when there is a dip but 'brah, money printer goes'. Honestly, stablecoin has a risk too so we will never know it crashing down. Also, you either a veteran trader with good sense of timing or a seer to actually know when to buy, when to sell and at what price. That takes a lot of effort and not easy as you said.

Stable coins are good only for that, to flip between with some crypto and stable coins when the market is going down. In the dip, you spend all stable coins for some cryptocurrency and you got yourself more coins. I do that after days of the green market, it happens often after greed weeks to come red days, sell in the peak of the green and buyback when it's red.

XCANA

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Most of us here make use of the stablecoins because of market volatility when has been the major problem around some major cryptocurrency. As a trader I will speak my point of view from this regard: while trading on an unpredictable situations, its demand you should always take your profit on stablecoins, with this method you will be rest assured that your profit are save than putting them up in volatile coins. Always, during the bear market, I used to move my coins to stablecoins to avoid huge lose in the process. Although, I won't encourage any to use USDT for huge amount because of their reputation among it community.

Janus101

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Don't know, stablecoin sure is great to flip between it and bitcoin when there is a dip but 'brah, money printer goes' meme. Honestly, stablecoin has a risk too so we will never know when it crashing down. Also, you either a veteran trader with good sense of timing or a seer to actually know when to buy, when to sell and at what price. That takes a lot of effort and skill, not easy as you said.

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

There is sense in your statements, but how many people just hold stablecoins when they are aware it won't benefit them if there is an uptrend in the market. I actually picked something from this post and I'll start keeping reserve USDT just in case there is a significant market downtrend to key in. I trade on USDT pairs but its hard to just hold usdt or other stablecoins. I always have open orders on my stablecoin pairs (to buy or sell).

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

I don't know if you understand the word "volatility" which means there is a fluctuation of the coins which is a good opportunity if you know how to ride on it. Stable coins are good when the market shows drastically down, diverting your high volatile assets into the stable coins is the best option if you see market in red colors.

You will never gain profit on stable coins because it is a dollar base and stable price. It is means the value is stable.

Did you know that, Proving That Tether Manipulated Bitcoin 2017 Bull Run Won’t Be Easy.

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

I feel confused with your OP "Holding Stablecoin is the best strategy ever in crypto space" what do you mean about it? Are you holding a Stablecoin just to wait another bearish moment to buy Bitcoin? I think it was not the best strategy mate, your money will be idle and unproductive for a long period because if you hold a Stablecoin in a long period the price still the same, so it has no returns. Why just use it to buy and sell cryptocurrency and after you have done convert it again back to Stablecoin, in that case, you can earn. But that was only my suggestion.

michellee

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I think by holding a stable coin, you can buy any coin even bitcoin when the price is down. You will get much amount of the coin, so you can sell when the price increase later. Hold stable coins at the bear market will give you benefits because you don't have to afraid of the decreasing of the money value so you can buy the coin at a low price.

Chuky92

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Holding stablecoins is good but I don't think it is the best strategy. My reason is, it is good to hold stablecoins during bear market but what about during bull market or bull run, which is now the best? Stablecoins or coins like BTC, ETH and so on? I believe the answer is clear enough. I would say, the usefulness of stablecoins is during trading (which some people still finds other pairs good enough) and during bear markets and it ends there; when one wants to hold for long term, then BTC is the best.

hushpupppy

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

Holding stablecoins is never the best solution, it is more or less a perfect strategy during specific times in profit.

Stable coin. Helps you to exit bitcoin or etherum quickly enough before a dump, and likewise makes it easy for you to get in and buy the dump too.

It is not an investment threshold but an escape route

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Quote from: Python Master on May 10, 2020, 03:11:37 AM

You say as it's very easy but it is not. Problem here is how we know Bitcoin will stop decrease at 3500, then bounce up. Would you take the decision to buy at that price that time? When Bitcoin was around 3500 most people scare and afraid that it will continue go down.

Haha so true. The whole issue for an average crypto user who doesn't know how to study charts is when the bull and bear will dominate. Sometimes bear cycles go on for so long that you lose hope of your coins appreciating again. Like it is really difficult to imagine Bitcoin shooting up to 20,000 and beyond right now.

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stable coins like USDT, USDC are often considered safe investments. or at least you don't have to worry about investing in stable coins. for me personally using stable coins depends on needs such as for daily trading.

ballerin and giroud

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You can split your capital, it is not work if you just store your money on USDT if your intention is investing. You can split your money, behalf to buy some coin and behalf you can keep it in case the price of cryptocurrency fall down so as you can buy some of them at the lower price. But you don't need to do that as long as you have a good prediction. You can spend all of your money to invest or for trading so as you will be profitable for it instead of you just store your money on USDT because you will not be profitable.

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Quote from: Crypto_lion on May 10, 2020, 04:05:36 AM

Ideally stable coins are usually backed by physical nassets equal to the value of them in circulation so that they can safeguard the holders against the volatility of the crypto markets.

where is the physical asset backing USDT?? I've been asking this very question for sometime now.. it like when a project claims they raised 10m usd during ico or private sales.. but theres no proof to back this claim

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

holding stable coin is like a two edged sword.. first of all, how do you know it's a bear market.. there are time when you hold on stable coins.. thinking this is the end of the deep and when you buy into btc or other coin.. the price of btc will suddenly plummet further.. before you know it you're already running into a huge loss which will take you time to recover

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

The problem is people will be so difficult when will be the correction to hold or convert our coins into the stable coin dude. You can say that it's so easy to do that but the real implementation will be much more difficult than it.
We can't sure how long the bearish market will go and this also the point why it's very difficult to determine the bottom.

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Ideally stable coins are usually backed by physical nassets equal to the value of them in circulation so that they can safeguard the holders against the volatility of the crypto markets.

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That is the actual use of the stable coin. You trade bitcoin to a stable coin when it's on the peak then wait for the further drop so that you can use that stable coin of your choice and then re-buy those sold bitcoins you had for a lower price.
Ideal for traders and somehow for long term holders.

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Holding stable coin is not a great idea unless you want to get interest on your dollar from some platforms like youhodler or nexo. Stable coins are trading material and you should not hold them very long even in a falling market. They should be used as intermediate only as they don't themselves increase in value. They are a good tool for day traders.

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Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Learn to hold stablecoin and wait for the right moment

You gave USDT as example. Not a good one.
If you want to hold stable coins you better go for coins/tokens with proper 3rd party audit (which USDT doesn't have) to make sure the coins/tokens are actually backed by something real, not just empty words.

PS. It's hard to tell now if Bitcoin is again in a bear market or not. We may need some 10 days for that (i.e. halving day + 1 week).

Python Master

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You say as it's very easy but it is not. Problem here is how we know Bitcoin will stop decrease at 3500, then bounce up. Would you take the decision to buy at that price that time? When Bitcoin was around 3500 most people scare and afraid that it will continue go down.

Samayuki

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Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

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