Will stable coins take control of Bitcoin as crypto adoption in the future? - page 2.

TWW

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Quote from: husdemba on June 26, 2021, 08:43:57 AM

This idea is very useful, but it will take time to implement. In such a case, cryptocurrencies become very valuable and Bitcoin dominance decreases. Not now, but stable coins will be popular in the future. We will monitor these changes over time.

stable coins are assets to secure the money that we use in investing or trading in certain situations.
while altcoins have a very fast development, so does bitcoin.
I doubt its popularity will overtake bitcoin in the future. the use of cryptos other than stable coins, such as altcoins and bitcoins may in the future get better trust. even in its use in payment instruments such as digital fiat.

S3300

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Can't make a dime from stable coins that's why no one cares about them much as highly volatility coins like BTC, I think they can co exists side by side just like today in future, the reason why coins like BTC makes lot of sense if the profit and loss feature.

Xinarae*

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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.

Yes bitcoin is decentralized so there is no government control here so it will take a long time to become a stable currency. Even if the government supports it in the future it will take time to control the digital currency and make it easy for the people.

husdemba

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This idea is very useful, but it will take time to implement. In such a case, cryptocurrencies become very valuable and Bitcoin dominance decreases. Not now, but stable coins will be popular in the future. We will monitor these changes over time.

pinoycash

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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.

You mean USDT in ETH platform, I did it once and i paid more fees than the amount i paid for Grin

I see more of DOGE getting mass usage in the future that bitcoin. Since bitcoin will remain as a store value comparable to gold in the future.

QueenVera

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Quote from: awakpane on June 19, 2021, 04:09:48 AM

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.

Stablecoin could overthrown Bitcoin at the most valued coin according to market capitalization but that won't be happening anything soon. Maybe when Bitcoin has exhausted it's hyped then the stablecoin can come in to have a piece of the cake but until then no altcoins van be said to overthrown Bitcoin as without Bitcoin, there's no cryptocurency.

Several altcoins has tried but will keep failing since they're yet to understand how the space was meant to function. Stablecoin has potential in them to get global adoption since they're less volatile than other cryptocurency currently in existence although there has to be billions stored in them for that to be achieved.

LimLims

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Quote from: awakpane on June 19, 2021, 04:09:48 AM

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 can give you mixed opinions on this matter OP.
There are equal possibilities that stablecoin can overcome BTC and tbh, the potential can be seen in ETH and LTC.
But still BTC is father of all coins.
To come to the level of Bitcoin, the stable coin need to be stand out from the crowd.
If the coin’s marketcap increases gradually and overcome BTC’s rule, then no doubt it will take control of Bitcoin.

poodle63

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Quote from: bluebit25 on June 26, 2021, 04:04:20 AM

Quote from: revilo on June 25, 2021, 03:47:46 AM

Quote from: bluebit25 on June 24, 2021, 10:30:41 PM

It will impact in many ways, the role of stablecoins in this market has been an integral part.
I think stablecoins will have a positive or negative effect depending on the current market trend.

The market trend has absolutely nothing to do with the situation of stable coins. I would love to hear your reasoning that led you to your post... Nah, better keep it to yourself.

Stable coins are a perfect bridge between crypto and Fiat and they will be forever. Just the technology that those stable coins are based on will vary and change over time. There are already several approaches to providing a stable coin, most of which are centralized.

Despite being hit hard lately, the nascent DeFi sector has held its own with decentralized exchanges. Overall, stablecoins have done their job well and held steady across the ecosystem with on-chain stablecoin transfers hitting record levels during the peak of the sell-off. Personally, I think the impact will be more obvious in the future when the CBDC issue is deployed into this market.

If you truly hoping that when CBDC is rolling out it's gonna be available in decentralized market then be prepared to be disappointed
the point of government making CBDC is to take advantage of crypto technology while also preventing it from conquering their economy.
I can't imagine the government letting CBDC running wild without their control, but one thing for sure CBDC not gonna replace stablecoins.

bluebit25

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Quote from: revilo on June 25, 2021, 03:47:46 AM

Quote from: bluebit25 on June 24, 2021, 10:30:41 PM

It will impact in many ways, the role of stablecoins in this market has been an integral part.
I think stablecoins will have a positive or negative effect depending on the current market trend.

The market trend has absolutely nothing to do with the situation of stable coins. I would love to hear your reasoning that led you to your post... Nah, better keep it to yourself.

Stable coins are a perfect bridge between crypto and Fiat and they will be forever. Just the technology that those stable coins are based on will vary and change over time. There are already several approaches to providing a stable coin, most of which are centralized.

Despite being hit hard lately, the nascent DeFi sector has held its own with decentralized exchanges. Overall, stablecoins have done their job well and held steady across the ecosystem with on-chain stablecoin transfers hitting record levels during the peak of the sell-off. Personally, I think the impact will be more obvious in the future when the CBDC issue is deployed into this market.

Ararbermas

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Quote from: aprilnot on June 19, 2021, 06:25:08 AM

why not, if people want more stable coins then stablecoins are the right choice. and bitcoin can be an option other than a means of payment. but still even if stablecoins are mass adopted, bitcoin will still be the number one crypto.

yes you're right bitcoin will be the number one as always and no other assets can take control on it.. Wherein stable coin is just for the volatility but of course we need more some of that kind of asset in the space because they're are very useful if we want keep our money safe, especially when there's a problem in the market they're very reliable.

CokeCoin

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Stablecoins have not yet been properly audited and it is still not known exactly how these assets are secured. Although Tether claim that USDT is tied to dollar, the big part of crypto community doesn't trust it. It may turn out as a governmental attempt to destroy cryptomarket from inside but even if it's true I don't think it will work out.

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what make people interested in crypto is its volatility, or more like stocks where your money could grow from it, meanwhile with stablecoin as it's pegged with dollar it's not gonna grow as much as crypto or stocks, then if that's the case why take the hard way to use stablecoin as payment method if it's rather centralized and more complicated than using centralized services like paypal?
I doubt stable coin will take control in the future crypto adoption, it's a coin owned by a company where they can freeze your money, no point in using that kind of coin for making payment.

revilo

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Quote from: bluebit25 on June 24, 2021, 10:30:41 PM

It will impact in many ways, the role of stablecoins in this market has been an integral part.
I think stablecoins will have a positive or negative effect depending on the current market trend.

The market trend has absolutely nothing to do with the situation of stable coins. I would love to hear your reasoning that led you to your post... Nah, better keep it to yourself.

Stable coins are a perfect bridge between crypto and Fiat and they will be forever. Just the technology that those stable coins are based on will vary and change over time. There are already several approaches to providing a stable coin, most of which are centralized.

bluebit25

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It will impact in many ways, the role of stablecoins in this market has been an integral part.
I think stablecoins will have a positive or negative effect depending on the current market trend.

DapanasFruit

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Stablecoins are playing a very vital role in managing risks and controlling the usual volatility of top cryptocurrencies. And they are doing good business as well but I don't see a future where stablecoins are taking the most control and wading out Bitcoin or any other coins. We have to remember that stablecoins can be compared to the fiat money but digitalized and that is why they are usually backed by values outside of cryptocurrency so they can be stable. Now, we have to be honest, that all of us here in the world of cryptocurrency are not actually here to enjoy stablecoins because there is limited returns in there and overtime since their value is fixed in US Dollar then that means that you are also fighting the usual inflation associated with fiat money. Do we think that if BTC has fixed value, most of us will be here?

kidbounty

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Quote from: awakpane on June 19, 2021, 04:09:48 AM

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.

adoption in what?, investment or decentralized currency?. when it comes to currencies, stablecoins will be far superior and they will be adopted more quickly than any other type of crypto. but when it comes to investing, bitcoin will always be the number one choice. institutions will make bitcoin the first choice.

revilo

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Quote from: traderethereum on June 23, 2021, 02:15:17 AM

Quote from: revilo on June 22, 2021, 07:55:10 AM

Quote from: traderethereum on June 22, 2021, 06:55:36 AM

Quote from: wajik-tempe on June 21, 2021, 11:16:01 PM

I think no, people are hooked up into crypto because the volatiliy of the coins is so agile. A stable coin adoption could be possible but i think not so many people will use it as a daily transaction method due to already many digital wallet that already there nowdays. So i think the unique things about crypto that hooked many people are their price are volatile and people are loving it.

They want to make fast money from the volatility and they will try to search for profitable coins because they know that the stable coins can not give them the profit.
Stable coins help them reduce the losses that can happen anytime, so when they see the price is down, they will convert the coin to stable coins.
Maybe people can also use stable coins as the payment system because the price will not have too volatile compare to bitcoin and altcoins.
The volatility of the bitcoin and altcoin tempt them to make money and convert it into stable coins to save their money.

No, when they see the price is down they do NOT convert to stable coins. They convert to stable coins when they see the price is high and could drop. If you think the price is low you want to get out of stable coins in order to reap the benefits from any increases in coins like Ethereum or Bitcoin.

Some traders do that to save their money value because if they still hold while the price is going down, they will see the value will follow down.
But if they convert it into a stable coin, they can buy back with more amount instead of just seeing the price is going down and decrease their money value without doing something.
But well, every trader will have their way to prevent the loss, but the stable coin will not replace bitcoin adoption because people will see bitcoin for the first time than to see stable coins.
People join in cryptocurrency because of bitcoin and not stable coins.

Stable coins are a tool for Bitcoin to see more adoption, not Bitcoin is a tool for stable coins to see more adoption. Stable coins are so far a centralized necessary evil to get cryptocurrencies into the mainstream. Bitcoin is tool volatile and it can't be expected that volatility will go down anytime soon. It may not go down forever because it is a traders' toy by now. You can short it, you can leverage it, you can lend and borrow it and what not. It just isn't stable enough to meet the requirements for a daily medium of exchange.

imstillthebest

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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.

its not easy because btc have gained the trust of the many and they are here because they are into decentralization but there are investors that still buys a stable coins because they are securing the profits that they have in btc .
btc helped stable coins and they want btc to die ? but there would be some demand left to their stable coins because it can be used for shoping or for sending money .

traderethereum

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Quote from: revilo on June 22, 2021, 07:55:10 AM

Quote from: traderethereum on June 22, 2021, 06:55:36 AM

Quote from: wajik-tempe on June 21, 2021, 11:16:01 PM

I think no, people are hooked up into crypto because the volatiliy of the coins is so agile. A stable coin adoption could be possible but i think not so many people will use it as a daily transaction method due to already many digital wallet that already there nowdays. So i think the unique things about crypto that hooked many people are their price are volatile and people are loving it.

They want to make fast money from the volatility and they will try to search for profitable coins because they know that the stable coins can not give them the profit.
Stable coins help them reduce the losses that can happen anytime, so when they see the price is down, they will convert the coin to stable coins.
Maybe people can also use stable coins as the payment system because the price will not have too volatile compare to bitcoin and altcoins.
The volatility of the bitcoin and altcoin tempt them to make money and convert it into stable coins to save their money.

No, when they see the price is down they do NOT convert to stable coins. They convert to stable coins when they see the price is high and could drop. If you think the price is low you want to get out of stable coins in order to reap the benefits from any increases in coins like Ethereum or Bitcoin.

Some traders do that to save their money value because if they still hold while the price is going down, they will see the value will follow down.
But if they convert it into a stable coin, they can buy back with more amount instead of just seeing the price is going down and decrease their money value without doing something.
But well, every trader will have their way to prevent the loss, but the stable coin will not replace bitcoin adoption because people will see bitcoin for the first time than to see stable coins.
People join in cryptocurrency because of bitcoin and not stable coins.

Luqman

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stablecoin is chosen because they are commonly used as pairing in most exchanges. And many people likely prefer to use stablecoins in order to trade, For, stablecoin is clearer to accumulate and more stable if we have been selling or holding.
However, I don' think that it is good to compare with Bitcoin and also take control of Bitcoin. BTC is not controlled by stable coins and also altcoins.
I agree that stablecoin is important, but this is not the center of crypto.

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