Topic: Will stable coins take control of Bitcoin as crypto adoption in the future? (Read 553 times)
July 24, 2021, 01:31:31 AM
In the cryptocurrency market, we use stablecoins mainly as a tool for the convenience of working with cryptocurrency. However, they cannot replace the cryptocurrency itself, since stablecoins cannot bring us profit, as we do with cryptocurrencies. Therefore, cryptocurrency and stablecoins are completely different financial assets that practically do not compete with each other.
July 12, 2021, 10:57:11 PM
To answer your question, whether stable coins take control of Bitcoin as crypto adoption in the future or not, I don't think the stable coins will go further like that. As we know, stable coins are pegged to some underlying asset that in practice is ruled by centralized hands. It will be more adopted in the future, yes. But to replace bitcoin I don't think that will happen in this world where decentralization being magnified.
July 12, 2021, 03:46:10 PM
A stablecoin is a cryptocurrency that is backed, added, or backed by an underlying asset. low volatility with stablecoins being the main benefit to continue to attract both individual and institutional interest. Exchange rate stability is useful for both holders and those trying to integrate Bitcoin and other cryptocurrencies into the wider financial system.
I don't see that happening because I believe the main purpose people invest in cryptocurrencies is because they want to make a profit and Bitcoin has proven and other Alts have proven this to be so over the years, Stablecoins, as we know them, are mainly to save loss in investment when the market dips and people will not naturally invest in stablecoins over Bitcoin except for the fact already stated and if this is the case, Investors will continue to invest more in the volatile coins for the profits instead of investing in stablecoins that is more STABLE, so stablecoins taking control of Bitcoin is a no for me. 
July 12, 2021, 11:52:50 AM
Stablecoins only one part of this growing ecosystem, but their influence and use is growing rapidly. They are now backed by more cryptocurrency service providers, with a market cap of under 25 billion US dollars.
July 12, 2021, 11:38:05 AM
What I can understand is that investors are attracted to cryptos because of their high volatility. For stable coins, for me personally, it's just as a safety when the market is bearish to secure assets so they don't fall too sharply. so i think stable coin can never take over bitcoin. because of the large volatility that makes investors interested in investing in order to get profits in it.
We need to remember why stable coins were created on the first place, before them if you wanted to cash out or as you say to avoid holding your coins during a crash you had no other option but to sell for fiat and this had the problem of having to pay huge fees and you run the risk of your account being blocked for dealing with cryptocurrencies.Stable coins help with this as you can get out of volatile coins and get some stability without having to go directly to fiat and they allow you to get back in the market immediately if you want, so they are useful but they have no potential at all to take control of the market as their volatility is way lower and the fact they are centralized is a real problem as governments could eventually close down the exchange which owns the stable coin and make it disappear that away.
July 11, 2021, 11:45:56 PM
A stablecoin is a cryptocurrency that is backed, added, or backed by an underlying asset. low volatility with stablecoins being the main benefit to continue to attract both individual and institutional interest. Exchange rate stability is useful for both holders and those trying to integrate Bitcoin and other cryptocurrencies into the wider financial system.
What makes you think stable coins can take control of Bitcoin ?Stable coins can not help you richer. I know some few days, you can get profit from stable coins but as investors, it is not the best to invest.
Bitcoin is a speculative asset and can help you to get richer in bull trend. Bitcoin can rise 50% but you can see the same thing with stable coins. If stable coins rise 50%, they are not stable and they won't be called as stable coins.
July 11, 2021, 11:34:32 PM
What I can understand is that investors are attracted to cryptos because of their high volatility. For stable coins, for me personally, it's just as a safety when the market is bearish to secure assets so they don't fall too sharply. so i think stable coin can never take over bitcoin. because of the large volatility that makes investors interested in investing in order to get profits in it.
July 11, 2021, 11:30:04 PM
We're still seeing legitimacy looking to build stable coins that are pegged to fiat currencies to further limit the risk and less transparency of cryptocurrencies, while minimizing reliance into fiat currencies and intermediaries. In general, the way for cryptocurrencies in general, or Bitcoin in particular, to become a legitimate currency and a safe asset will still be an open question.
July 11, 2021, 10:34:57 PM
A stablecoin is a cryptocurrency that is backed, added, or backed by an underlying asset. low volatility with stablecoins being the main benefit to continue to attract both individual and institutional interest. Exchange rate stability is useful for both holders and those trying to integrate Bitcoin and other cryptocurrencies into the wider financial system.
Bitcoin will remain the main attraction in Cryptocurrencies, because by its very nature the value of Bitcoin continues to grow. Stable coins are a complement in Cryptocurrency, when Crypto traders make transactions required stable assets or coins, making it easier for traders to take profits if traded with Bitcoin or other cryptocurrencies, besides Stable coin is also an option to store assets when the market is down or hard to predict. However Stable coin is not the right choice for investment. 
July 11, 2021, 09:39:06 PM
Just incase people haven't noticed, one of the reasons bitcoin is so popular is because it's speculative and volatile.
So what does this mean, if you are a trader and want to make money off an asset, you need one that has big moves and bitcoin fits in well, unlike the stable coins you comparing it to which have unnoticed moves.
So what does this mean, if you are a trader and want to make money off an asset, you need one that has big moves and bitcoin fits in well, unlike the stable coins you comparing it to which have unnoticed moves.
I agree that the purpose of people buying Bitcoin is because the price is volatile, so it can provide an opportunity to make profit. Therefore Bitcoin is
very popular quickly, because it has been proven to provide a lot of profit for people who buy it. Very much different from stable coins which are
the same as fiat, the price does not move too far, it is very difficult to make a profit from stable coins. Most people use stable coins to secure profits
from trading and also avoid losses when the market is bad. So it is impossible for stable coins to take over from Bitcoin, it is too difficult for other coins
to beat Bitcoin.
July 11, 2021, 09:18:46 PM
Stablecoins support crypto market. They are part of cryptocurrency. But people prefer the crypto because the changes in price. Stablecoins can be part of investments, But will never take control of Bitcoin.
July 04, 2021, 01:19:44 PM
No way. stablecoins are like fiat money. there is a reason why they are called stable coins. there value increases due to purchasing power and decreases when not in use. bitcoin is a store of value just like Gold where any one can invest and wait for long term. it is an investment and a long term. Also it depends on what na dhow the investor tends to use it.
What I am worried also about these stablecoins, is their actual assets that are pegged to it. How do we know if the team behind such stable coin is saying the truth about their assets? Because one admittance from this platform that they are not fully backed, you will also lose your funds. It may help in the volatility issue when it comes to payment method, however, you need to make sure that you are dealing with trusted stable coin.
With this in mind I think it is going to be impossible for stable coins to ever take control of bitcoin and this market regardless of what happens.
June 27, 2021, 06:28:11 PM
From a trader's point of view, I guess stable coins don't offer much because the price like you said is stable and bring no value in holding them for longer periods.
It is funny you have contrasting statements, you are telling that as a trader you are using Altcoin USDT or BTC/USDT trading pair which is a stable currency and you still think that it is not offering anything to a trader 
. The reason why everyone is using stable currencies as a trading pair is to hold the valuation when they book their profit and when you are trading in a highly volatile market like cryptocurrency stable currencies are necessary and USDT is not the solution as we need more secure and transparent stable currencies.Earlier most of my trades used to happen in the altcoins/BTC market but now I usually trade in altcoins/USDT and BTC/USDT so indeed stable coins are useful but not from a holder's point of view but as a payment option.
As i mentioned, to hold the valuation you need a stable currency and merchants might like a stable currency but they can always covert payment using payment processors instantly. June 27, 2021, 06:17:34 PM
No way. stablecoins are like fiat money. there is a reason why they are called stable coins. there value increases due to purchasing power and decreases when not in use. bitcoin is a store of value just like Gold where any one can invest and wait for long term. it is an investment and a long term. Also it depends on what na dhow the investor tends to use it.
Stablecoins don't have to depend on fiat money. They can depend on other things like gold or real estate. If we get coins 100% backed by real assets instead of fiat they will be very useful and can take over that part of the market that now is XRP.
For now I don't see how fiat backed stablecoins can be anything but a trader's safe haven.
June 27, 2021, 06:13:49 PM
No way. stablecoins are like fiat money. there is a reason why they are called stable coins. there value increases due to purchasing power and decreases when not in use. bitcoin is a store of value just like Gold where any one can invest and wait for long term. it is an investment and a long term. Also it depends on what na dhow the investor tends to use it.
What I am worried also about these stablecoins, is their actual assets that are pegged to it. How do we know if the team behind such stable coin is saying the truth about their assets? Because one admittance from this platform that they are not fully backed, you will also lose your funds. It may help in the volatility issue when it comes to payment method, however, you need to make sure that you are dealing with trusted stable coin.
June 27, 2021, 05:57:49 PM
No way. stablecoins are like fiat money. there is a reason why they are called stable coins. there value increases due to purchasing power and decreases when not in use. bitcoin is a store of value just like Gold where any one can invest and wait for long term. it is an investment and a long term. Also it depends on what na dhow the investor tends to use it.
June 27, 2021, 04:54:34 PM
A stablecoin is a cryptocurrency that is backed, added, or backed by an underlying asset. low volatility with stablecoins being the main benefit to continue to attract both individual and institutional interest. Exchange rate stability is useful for both holders and those trying to integrate Bitcoin and other cryptocurrencies into the wider financial system.
No it will not, it will against the main idea of cryptocurrency, being Decentralized. The idea of Stablecoin is only for trader who want to trade their coin.
June 27, 2021, 04:24:59 PM
Just incase people haven't noticed, one of the reasons bitcoin is so popular is because it's speculative and volatile.
So what does this mean, if you are a trader and want to make money off an asset, you need one that has big moves and bitcoin fits in well, unlike the stable coins you comparing it to which have unnoticed moves.
So what does this mean, if you are a trader and want to make money off an asset, you need one that has big moves and bitcoin fits in well, unlike the stable coins you comparing it to which have unnoticed moves.
June 27, 2021, 04:18:40 PM
Although it may possible but I think it won't happen. Because we all know how Bit coin behave in the market. Whenever Bitcoin swing, everybody's coins are almost affected. Stable coins are stable and cannot give much excitement and x20 profit in my point of view.
From a trader's point of view, I guess stable coins don't offer much because the price like you said is stable and bring no value in holding them for longer periods.But from a service provider or marketplace point of view, I guess stable coins can easily take over the market because a lot of service providers I talk to, often tell me that they don't accept crypto because of the price volatility and with stable coins they can easily accept crypto while not even worrying about price swings at all.
Earlier most of my trades used to happen in the altcoins/BTC market but now I usually trade in altcoins/USDT and BTC/USDT so indeed stable coins are useful but not from a holder's point of view but as a payment option.
June 26, 2021, 01:41:42 PM
although bitcoin was the first crypto and had the goal of being a decentralized currency but it would lose if the government released their own stablecoin. A fully legal stablecoin will be easier to accept, which is why it will be fast for mass adoption.
Not really, a stable coin created by a government will be even worse than the fiat currencies we are using at the moment, maybe the average person is going to fall on this and adopt those coins as the sheep they are but for people like us this is going to be impossible.We know the differences between fiat and bitcoin and it is because of this we choose bitcoin, I only keep enough fiat on hand for my everyday needs and for an emergency fund, everything else goes to bitcoin as it does not really make a lot of sense to keep holding fiat when just during the last year governments printed so much money that they are even putting the whole economy at risk with this experiment.
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