Will stablecoins be the future of cryptocurrency? - page 3.

Vitalicus

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Quote from: shoreno on May 21, 2020, 01:32:05 AM

Quote from: unusualfacts30 on May 21, 2020, 01:16:55 AM

with more and more business getting onboard I would say it is in the future. it cant be used for investing and people who wants to invest still find safe haven in other crypto. it will probably be used for digital transactions in the near future but there is something lacking thats keeping that from happening.

stable coins are already being used on online transactions because of thier stable value but how can you say that they lack of something ? what would would that be . maybe support for online platforms because even if they are stable , i cant still find usdt on most sites that ive been visited before . i heard usdt have some legal issues too and that could be true because usdt is linked to fiats/banks . maybe in the future those restrictions or known issues can be permanently sorted out then it safe to claim that stable coins are the future .

You're right. Fiat money is the best method of payment right now due to the wide recognition. That's also the problem that crypto money is facing right now. In order to be an effective currency, a currency has to keep it value stable overtime and also have the wide recognition. In my opinion, the reason why many nations don't accept crypto money as a method of payment is that their citizens aren't familiar with this kind of payment. Also, governments have to keep their fiat money in order to control their economy.

shoreno

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Quote from: unusualfacts30 on May 21, 2020, 01:16:55 AM

with more and more business getting onboard I would say it is in the future. it cant be used for investing and people who wants to invest still find safe haven in other crypto. it will probably be used for digital transactions in the near future but there is something lacking thats keeping that from happening.

stable coins are already being used on online transactions because of thier stable value but how can you say that they lack of something ? what would would that be . maybe support for online platforms because even if they are stable , i cant still find usdt on most sites that ive been visited before . i heard usdt have some legal issues too and that could be true because usdt is linked to fiats/banks . maybe in the future those restrictions or known issues can be permanently sorted out then it safe to claim that stable coins are the future .

unusualfacts30

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with more and more business getting onboard I would say it is in the future. it cant be used for investing and people who wants to invest still find safe haven in other crypto. it will probably be used for digital transactions in the near future but there is something lacking thats keeping that from happening.

Ozero

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Quote from: dingo25 on April 07, 2020, 01:21:33 AM

Everyday more and more payment providers accept stablecoins like USDT and USDC as payment. Will they be the future of crypto?

Yesterday PolisPay just added 3 stablecoins as payment for the first time.

https://twitter.com/PolisPayApp/status/1247319714130546689

In fact, stable coins with great difficulty can be classified as cryptocurrencies. These are digitized currencies of states and less commonly other financial assets. In any case, they do not belong to a decentralized cryptocurrency and therefore cannot be its future. These are completely different branches of digital currency that will compete with each other as a means of payment.

ancafe

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stable coins are indeed a very good tool to be a transaction tool, but not as an investment tool. however, crypto such as bitcoin or ethereum is not only used as a transaction tool, but also a business and investment tool. in addition, stable coins can still be replaced with fiat on the internet such as PayPal or something similar. but, for the development of larger cryptocurrency, I think a decentralized crypto is needed and is more than just a stable coin.

chmod755

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Quote from: adamistraybar on April 07, 2020, 01:24:41 AM

I like them because there a good way to hold coins in crazy times for example in the crazy crash that happened due to the corona virus recently..
I converted all my bitcoin to tether and It saved me thousands of dollars

It's best to get something stable when to trade if we don't have time to be looking all the day into prices and analysis the best scape is to hold our money is something that we can sleep without worrying about.

TimeTeller

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Quote from: StephenJH on May 19, 2020, 06:08:20 PM

In my humble estimation stablecoins are so useful for everyone, that is why if there is some crisis like Corona, stable coins can save your money from the crisis. l mean if you realize that there is some problem, you can convert your money to stable coins and just can relax.

It will save you thousands of dollars. But it doesn't mean stablecoins will be the future of cryptocurrency.

This is somehow true but you need to know that these stable coins might collapse anytime.
What if the owners of this stable coin decided to sell off their coins?
And how sure are you that they are still back 100% by the fiat currency that they are supporting at any given time?
You still have to be careful dealing with stablecoins, because we don't know the truth behind their existence.

tanjiran

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Quote from: Japinat on May 02, 2020, 04:31:48 AM

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For payment system, stable coin is really better since it's not volatile, no everyone who transact online can take the risk of volatility so we are seeing this happens. Actually I am happy with this kind of development because these stable coins are still just part of the crypto market, when they get popular and grow, the effect would result on the entire market.

Moreover, cryptocurrency is more effective if it is used as a commodity of trade and investment, rather than just being used to make payment transactions. Stable coins function the same as e-money, only that e-money is adopted more and more legally because it is based on official fiat currencies.

Quote from: StephenJH on May 19, 2020, 06:08:20 PM

In my humble estimation stablecoins are so useful for everyone, that is why if there is some crisis like Corona, stable coins can save your money from the crisis. l mean if you realize that there is some problem, you can convert your money to stable coins and just can relax.

It will save you thousands of dollars. But it doesn't mean stablecoins will be the future of cryptocurrency.

It is indeed effective as a strategy to secure assets in an extreme market. But you should not save it for the long term, the risks are high, especially regarding the freezing of funds: https://github.com/OmniLayer/omnicore/releases/tag/v0.3.0#freezing-tokens-for-managed-properties

desticy

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Quote from: Samayuki on April 10, 2020, 10:10:15 AM

The future of crypto is Bitcoin and privacy coins, all together the future belongs to volatile coins not stable coins, I won't invest if I can't make gains from them either

Private coins face resistance from regulators in various countries.
The SEC recently filed a ton of lawsuits against exchanges and ICO projects.
I do not think that cryptocurrencies will be able to make a real mass adaptation without the approval of regulators, for whom private coins are a bone in the throat.

StephenJH

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In my humble estimation stable coins are so useful for everyone, that is why if there is some crisis like Corona, stable coins can save your money from the crisis. l mean if you realize that there is some problem, you can convert your money to stable coins and just can relax.

It will save you thousands of dollars. But it doesn't mean stable coins will be the future of cryptocurrency. Maybe BTC and other altcoins can be the future of cryptocurrency like ETH, XRP, BNB, etc. But absolutely not stable coins.

Japinat

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Quote from: $anounimus$ on May 02, 2020, 01:54:54 AM

Quote from: dingo25 on April 07, 2020, 01:21:33 AM

Everyday more and more payment providers accept stablecoins like USDT and USDC as payment. Will they be the future of crypto?

Yesterday PolisPay just added 3 stablecoins as payment for the first time.

https://twitter.com/PolisPayApp/status/1247319714130546689

The name is also stable coins, if the others show red color when the weak condition of the coint does not have a big effect on market pressure. It means that investors are more comfortable investing their investment in conditions that are affordable. A safe choice in my opinion.

For payment system, stable coin is really better since it's not volatile, no everyone who transact online can take the risk of volatility so we are seeing this happens. Actually I am happy with this kind of development because these stable coins are still just part of the crypto market, when they get popular and grow, the effect would result on the entire market.

in addition, we have Libra coming, not sure when but they are a big thing in the market.

desticy

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Quote from: Samayuki on April 10, 2020, 10:10:15 AM

The future of crypto is Bitcoin and privacy coins, all together the future belongs to volatile coins not stable coins, I won't invest if I can't make gains from them either

Private coins face resistance from regulators in various countries.
The SEC recently filed a ton of lawsuits against exchanges and ICO projects.
I do not think that cryptocurrencies will be able to make a real mass adaptation without the approval of regulators, for whom private coins are a bone in the throat.

$anounimus$

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Quote from: dingo25 on April 07, 2020, 01:21:33 AM

Everyday more and more payment providers accept stablecoins like USDT and USDC as payment. Will they be the future of crypto?

Yesterday PolisPay just added 3 stablecoins as payment for the first time.

https://twitter.com/PolisPayApp/status/1247319714130546689

The name is also stable coins, if the others show red color when the weak condition of the coint does not have a big effect on market pressure. It means that investors are more comfortable investing their investment in conditions that are affordable. A safe choice in my opinion.

TastyChillySauce00

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Quote from: dingo25 on April 16, 2020, 06:52:31 AM

Quote from: MCobian on April 14, 2020, 06:55:04 PM

I strongly agree with the opinion that stablecoins will be the future of cryptocurrency. Can be seen on the coinmarketcap site the USDT has
the largest volume, even exceeding the volume of bitcoin. This is proof that demand for stablecoins is very large, I also really like stablecoins
because it can protect our funds from the influence of volatile cryptocurrency markets. So it's no wonder that many companies have adopted
stablecoins, some countries also legalize stablecoins as payment. With all this evidence, I'm sure stablecoins will be the future of cryptocurrency.

Right now Bitcoin has a volume of $43,446,508,860 and USDT has $57,618,099,365. That's saying something...

doesn't mean a thing if all those USDT are used for buying bitcoin or the other way around anyawy. Though stablecoin might indeed dominate the market but without the regular cryptocurrency it's just kinda pointless. the same as using paypal although the benefit of using stablecoin to save wealth amid to volatile market really helps a lot.

dingo25

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Quote from: MCobian on April 14, 2020, 06:55:04 PM

I strongly agree with the opinion that stablecoins will be the future of cryptocurrency. Can be seen on the coinmarketcap site the USDT has
the largest volume, even exceeding the volume of bitcoin. This is proof that demand for stablecoins is very large, I also really like stablecoins
because it can protect our funds from the influence of volatile cryptocurrency markets. So it's no wonder that many companies have adopted
stablecoins, some countries also legalize stablecoins as payment. With all this evidence, I'm sure stablecoins will be the future of cryptocurrency.

Right now Bitcoin has a volume of $43,446,508,860 and USDT has $57,618,099,365. That's saying something...

Eclipse26

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Quote from: Lhaine on April 07, 2020, 01:37:53 AM

Quote from: dingo25 on April 07, 2020, 01:21:33 AM

Evreyday more and more payment providers accept stablecoins like USDT and USDC as payment. Will they be the future of crypto?

Yesterday PolisPay just added 3 stablecoins as payment for the first time.

https://twitter.com/PolisPayApp/status/1247319714130546689

Future stable crypto ,not a future crypto this coins is only use as alternative to usd so people can trade normally without the need of having it in fiat money. The good thing about usdt is if you have that amount in a moment that the market crash you can easily buy back the coins you want to buy. Without the needs of deposting your fiat money traders like it because in time like unexpected crash there is always a problem depositing using bank transfer and other method.

Well, yes there is a tendency for both stable cryptos and fiat to co-exist in the future. But the bottomline is that those stable coins are more likely to be used as a currency and those which are having volatile market value, could remain more of an investment.

Quote from: mahilchii on April 14, 2020, 06:42:26 PM

Quote from: TopT3ns on April 14, 2020, 05:34:09 PM

Quote from: mr.robot8 on April 11, 2020, 12:55:36 PM

I really like stable coins you can make good profits by putting them in stakes and with this crisis for the virus they are an excellent safe haven alternative to cash / fiat

indeed only stable coins can still survive when there is an outbreak of this corona virus, but I am sure stable coins will not be able to provide much profit like bitcoin and other altcoins because the price increase depends on fiat price movements.

Yes stable coin is immune from market fluctuations as its value depends on fiat i.e USD, but I don't think fiat will ever be used for investment purpose as it's just used to store value during uncertain market situations to avoid losing money or while trading stable coin can be used but it can never gain status of other crypto coins.

Fiat will more likely remain as a currency being used by countries wherein cryptos and other digital currencies are not yet being accepted. There are still governments as of this moment, who are not yet trusting digital method of payments as well as services being offered. But as development continues, chances are high that massive adaptation will happen.

imstillthebest

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Quote from: mahilchii on April 14, 2020, 06:42:26 PM

Quote from: TopT3ns on April 14, 2020, 05:34:09 PM

Quote from: mr.robot8 on April 11, 2020, 12:55:36 PM

I really like stable coins you can make good profits by putting them in stakes and with this crisis for the virus they are an excellent safe haven alternative to cash / fiat

indeed only stable coins can still survive when there is an outbreak of this corona virus, but I am sure stable coins will not be able to provide much profit like bitcoin and other altcoins because the price increase depends on fiat price movements.

Yes stable coin is immune from market fluctuations as its value depends on fiat i.e USD, but I don't think fiat will ever be used for investment purpose as it's just used to store value during uncertain market situations to avoid losing money or while trading stable coin can be used but it can never gain status of other crypto coins.

still an investment as long as you start purchasing and hodling them but not a kind of a profitable investment due to thier stability .

stable coins can withdstand any crisis even the toughest ones like corona , thats why they can be a future aside from that . they are also stable and as good as fiat money that is best for purchasing items and for paying/recieveing money . still other unstable cryptos are a good option if we want to earn

MCobian

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I strongly agree with the opinion that stablecoins will be the future of cryptocurrency. Can be seen on the coinmarketcap site the USDT has
the largest volume, even exceeding the volume of bitcoin. This is proof that demand for stablecoins is very large, I also really like stablecoins
because it can protect our funds from the influence of volatile cryptocurrency markets. So it's no wonder that many companies have adopted
stablecoins, some countries also legalize stablecoins as payment. With all this evidence, I'm sure stablecoins will be the future of cryptocurrency.

rathaha10

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Quote from: dingo25 on April 07, 2020, 01:21:33 AM

Everyday more and more payment providers accept stablecoins like USDT and USDC as payment. Will they be the future of crypto?

Well, with the current developments seen today as the central bank suggests a ban or heavy regulations to be imposed on the use of stablecoins, i doubt if there's much of a future for the emerging industry of stablecoins, i personally hope the ban proposal won't pull through though becuse stablecoins have help traders and investors in getting an edge against the volatility of the cryptocurrency market, just imagine how risky the whole market would be without the presence of stablecoins, one will see his asset getting burn down without much of a thing to do to stop it as virtually every cryptocurrency will be going downward during a strong bearish market period

mahilchii

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Quote from: TopT3ns on April 14, 2020, 05:34:09 PM

Quote from: mr.robot8 on April 11, 2020, 12:55:36 PM

I really like stable coins you can make good profits by putting them in stakes and with this crisis for the virus they are an excellent safe haven alternative to cash / fiat

indeed only stable coins can still survive when there is an outbreak of this corona virus, but I am sure stable coins will not be able to provide much profit like bitcoin and other altcoins because the price increase depends on fiat price movements.

Yes stable coin is immune from market fluctuations as its value depends on fiat i.e USD, but I don't think fiat will ever be used for investment purpose as it's just used to store value during uncertain market situations to avoid losing money or while trading stable coin can be used but it can never gain status of other crypto coins.

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