Topic: With this possibly upcoming crisis in mind... - page 3. (Read 506 times)
the current crisis is because of the failure of dev critics to develop their coins and projects. people will definitely get bored with the same situation as this and not develop at all, so it only plays on crypto values only. it makes a significant decline in crypto enthusiasts and prices will be difficult to go back up and stable. that's just my analysis in person, maybe there are still many other things that make a crisis like this.
With this possibly upcoming crisis in mind, what you guys think about investing in stable coins standardised with fiats?
Is is even a thing, that they will sink like a stone, just like fiats will? Are there any mechanisms that can protect such stablecoins?
Or maybe, I have a misconception of the reasons for their existence and nobody is actually hoarding st.coins?
Why would you invest in stablecoins? Its pegged at a fixed value if you use for trading then it has a point but if its for long-term holding might aswell turn it into a real fiat and then invest it in a bank.Is is even a thing, that they will sink like a stone, just like fiats will? Are there any mechanisms that can protect such stablecoins?
Or maybe, I have a misconception of the reasons for their existence and nobody is actually hoarding st.coins?
There is no mechanism that protect stablecoins from losing its value, its just an imagination its not backed by something.
No one is hoarding stable coins, because there will be no benefits of holding them. we only buy stable coins when we want to switch our non-stable coins to the fiat price. because trading from BTC to USDT is convenience when you are worried about the sudden fall of the price. This is the only thing I see about the use of stable coins. other than alternatives for fiat, we find no other use for it.
Yes, there is no benefit at all in holding stanble coins, but they have also advantage, as we all know that crypto is volatile, so once the Bitcoin is dropping, most traders strategy is to convert their Bitcoin or any other altcoins to stable coins then buying again once the market is stable. So, stable coins has a big role too, or else, traders will incur a big loss. 
I believe that stable coins are needed only for traders in order to always have a safety pillow for the ability to place an order at lower levels. but stable coins as a means of payment are not needed to the cryptocurrency industry
I consider coins like USDT or USDC a digital fiat (USD) or whatever you want to call it, but there is no benefit of holding them for long since you will still get back what you spend on them, buying stable coins can't be called investing, its perfect for keeping digital money at a fixed price
There is a reason for fiat to sink like a stone and there will another reason for stablecoin to sink as well. There is no mechanism to protect it,
it has been like this for ages and we can not change it.
you can think this way that means somebody else out there might think like this too, there is a possibility for someone out there hoarding stablecoin because they are afraid of upcoming crisis.
it has been like this for ages and we can not change it.
you can think this way that means somebody else out there might think like this too, there is a possibility for someone out there hoarding stablecoin because they are afraid of upcoming crisis.
What is the point of investing in stable assets, but if you think that everything will drop, then I would choose the one and only right stable coin which is named DAI. In my opinion, this is the obvious choice, because such coins as TUSD are garbage.
If that stable is backed in any fiat currency, like in USDT(Tether) is backed by US Dollar (as they said), then it is almost the same with fiat US DOLLAR.
Since most of the stable coins is pegged with US DOLLAR, then for sure if the fiat currency will lost some value, then their digital stable coin here in cryptocurrency will also lost in value.
Since most of the stable coins is pegged with US DOLLAR, then for sure if the fiat currency will lost some value, then their digital stable coin here in cryptocurrency will also lost in value.
With this possibly upcoming crisis in mind, what you guys think about investing in stable coins standardised with fiats?
Is is even a thing, that they will sink like a stone, just like fiats will? Are there any mechanisms that can protect such stablecoins?
Or maybe, I have a misconception of the reasons for their existence and nobody is actually hoarding st.coins?
Is is even a thing, that they will sink like a stone, just like fiats will? Are there any mechanisms that can protect such stablecoins?
Or maybe, I have a misconception of the reasons for their existence and nobody is actually hoarding st.coins?
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