Bitcoin Forum

As of now, the only "mainstream" stablecoin is Tether and people only use it to "temporarily hide" from crypto volatility until the storm calm a little bit (aka end of bearish market). So let's not talk about it..

Let's talk about the potential of cryptocurrencies and why we need another (and more transparent) stablecoin. I do think that 2018 is the year of stablecoin but I don't know which stablecoin will be adopted by real businesses in real life. But here's the thing. I do believe that stablecoins are the only way for blockchain and crypto industry to be widely adopted by real businesses and governments.

Let's be honest. conservative businesses do not like volatility. if they get $1,000,000 today, they want that money to stay $1,000,000 the next month. They want to have that peace of mind. A lot of companies don't want to adopt cryptocurrencies because they know the value can change a lot and it takes a lot of time to withdraw their cryptos back to fiat if they earn hundreds of millions of dollars (which they are going to need to do anyway because they can't operate without fiat - at least, for now). But imagine if they have stablecoins...they would feel calmer even if it takes awhile to withdraw their millions of dollars in crypto because they know the price would stay the same

Blockchain technology is awesome but a lot of companies see crypto volatility as a huge risk. even if a specific company accepts bitcoin (look at Valve in the past), most of the users/community in that company itself still wouldn't use it anyway. why? again, a lot of people don't want to take that risk. Average people outside crypto industry do not want to take that risk. They want conservative approach to their business. They want their spending to stay the same every month. They don't want "X value" to change from $10,000 to $5,000 in a matter of 1-2 months. They see the risk before they see the potential.

Once again, idk which stablecoin will finally come out on the top, but I do have a strong feeling that we need stablecoin in order for crypto to get widely adopted by big businesses and governments. If one or two stablecoins can be widely adopted by big businesses, there will be more interest in crypto industry in general. and indirectly, the likes of bitcoin and other volatile cryptocurrencies will have more investors as well.

We have a lot of crypto companies creating stablecoins. TUSD from Bittrex, Havven, MakerDAO, DigixDao, etc. etc. but I just dont understand why they never try to target big companies in real life to use their stablecoin. It seems like their main target is to simply replace Tether. They are not trying to promote their stablecoins to the world outside crypto industry itself. Their target is for crypto day traders to stop using Tether and use their stablecoin instead.

If those businesses or merchants do really want stability then they wont bother themselves on seeking out stable coin on what you are mentioning on here but they would rather stick out to traditional local fiat currencies since theres no point on putting up money into other coin which would make things complicated when it comes to withdrawing it out.This is the common issue been talking for how many years. This is why bitcoin adoption is slowed down because of volatility matters.

The volatility nature of crypto is really causing setback to it.... As people are scared of loosing money when the price deep.

I don’t seem to comprehend if we do like stablecoin in investing, why do we go in crypto. Stock market is open for any investment opportunity for everyone who want a more stable and not volatile unlike others. Why? Because we don’t want it or maybe half of the new or old investors came here for big profits and an unstable or unsteady bitcoin price is perfect for it.

It’s not the volatility that will loss investors money, it is the players to blame. Good strategy makes big profit.

That's right, Having a powerful CryptoAsset will help the whole market to boom again

Stablecoins and crypto is a cognitive dissonance. I don't understand why we need for the stablecoins in crypto world. If you can't stand with price volatility, then crypto is not for you.
Just tell me one reason, why these big would need to use stablecoin, instead of common fiat currency? What's the point?

Are you trying to propose a coin where it's value based on Gold or Silver? ( If I'm not wrong there is a one in order to solve volatility issue)
What I am trying to point out is that too hard to replace bitcoin as mother and leader of the cryptocurrency even though you have a best one. If the stable coin that you mean is widely accepted by big business and government I bet it's decentralized and it's clearly against the concept that Satoshi has been proposed.

Some altcoins are real and trusted but stable is what i can't guarantee you. I don't even think that any cryptocurrency will ever have a stable price.  And you should also bear in mind that the growth of cryptocurrency do not depend on it stability. For cryptocurrency to grow, they need constant pumping not dumping, there shouldn't be FUD and it should be accepted.

Yes for sure and today bitcoin is that booming currency. Holding bitcoin in wallet for long time will increase the market value of bitcoin. it is very modern age where everyone want bitcoin and something exciting so bitcoin is the only thing that can help the marker in this regard, price of bitcoin right now is getting high because people are holding bitcoin they are not ready to sell it right now till it become very high in price.

I do not totally agree with the above you concluded with. For me it is the volatility that leads to either profit or losses. For example, bitcoin price has dropped to below $8,000 and investors who bought above $8,000 are now at loss with the difference .

By simple explanation, volatility could be said to be fluctuations in market price which is either for profit or loss.

Stable coin will not gain enough profit. And profitable cryptocurrency like bitcoin is of course very volatile - it is both advantage (you earn more) and disadvantage (you can loss and need more time to come to break even point.

volatility makes investor attract and afraid... they attract because it will create big profit and afraid at the same time for it may loss in just single moment.

in this kind of business, it needs a lot of knowledge and understanding about the market movement. one will be able a make a huge profit or the other way around.

So far, we haven’t experienced any such coin which is having stable market value and that the entire crypto currency is this much popular and is known in the entire world as the most volatile currency. I don’t really think so that this will result in anything good for any of the crypto currency or even the crypto market because the investors are demanding to have such coins which can help them in having more profit.

Read more https://hackernoon.com/stablecoins-designing-a-price-stable-cryptocurrency-6bf24e2689e5 (https://hackernoon.com/stablecoins-designing-a-price-stable-cryptocurrency-6bf24e2689e5)

why we need stablecoin, I think that's not necessary.
if a business really wants stability then he will not bother looking for a coin, he will definitely choose to use fiat currency, because it would be useless to put money on coin if the ends of his money will remain stable even make complicated if you want to withdraw if the money is made into a coin.

But in crypto currency there is no stable price can be obtained because it can be used by world wide so it will not reach a stable coin until all of the world people using it.So what we need to do is encourages the people to use crypto as a currency not as an investment.But already we have a stable coin tehtee but still we have not attained full growth in it.

If there is stability on the crypto currency no one will survive with the profit and loss theory dude. We will find the bitcoin and ethereum will be dumped more for few days so guys whoever expect the fluctuation for making profit.
This is the right time invest on your any favourite coins. All the coins will be bumped backed to the moon with in 5 days. So I am hodling the bitcoins I have in my electrum wallet. There are very option to invest the money in cryptos. If the any coin stable in the market no one can make profit or else thing.

We do not need a stable crypto currency, if we do not want to use it as the main money in a certain state. We need not so much the stability of the crypto currency as its independence and independence from bitcoin. To bitcoin did not dictate to the altkoynam how to behave in the price charge on the crypto-currency market. Each digital coin or token must have its own plan and its price growth strategy. And on this plan bitcoin should not influence in any way.

What is the reason for hiding your funds in a stablecoinwhen you’re very sure that the price of Bitcoin will still rise up? Does it make any sense at all? As for me, I don’t really have such time. Whenever I invest into any cryptocurrency, I set a target price and whenever it comes to reach that price, I will just withdraw my money. And if it happens to go down instead of rising, I will still leave my money, cause I’m very sure that the price will go up in anytime. You might withdraw and lose the opportunity.

Yes bitcoin will be bump back in the market mate. There are people still looking to invest the bitcoin and price changes happening because of fake news has been spreaded widely through out media and other medium what are all reaching to laymen people.
I always trusted on bitcoin and we will find the bitcoin to reach around 20k USD as every speculators view.
If you need a coin with out big fluctuations there is no one crypto currency here in the market.

So, how many stablecoins do we have now out of the 1600 or so cryptocurrencies out there? I know Tether really well and you could probably credit them a little for helping the industry to grow - giving people and bears alike the chance to short bitcoin as they please. I've seen at least two out of Asia recently, but their idea kind of sucks since it also engages some kind of "overseer" organization to help steer prices towards stability.

My "stable" coin will always be good old Bitcoin. Or how about Doge (joke?) which never strays from a 100 satoshi range;)

A globally used stable coin and for it to be more widely accepeted, less for investing more for the day to day usage.
That would change the whole cryptocurrency world from end to end, global economy and many things we cannot forecast.

Two contradictory concepts, cryptocurrencies mean decentralization and stablecoins need to be centralized to ensure their stability.
The industry is benefiting from digital currencies in introducing a new market that can not be investing for traditional methods and the use of bitcoin will remove distrust between the parties.
I agree with you, cryptocurrencies are bad at keeping their value but generally high in value which dispels fears about their use.
Perhaps new models of stable, decentralized coins may be accepted as an intermediate solution

Stablecoin? That does not sound as crypto at all but we'll never know. Maybe a government-backed crypto can make it happen but I'm wondering if people will use it unless the government forced it to us.

Not only do companies want stability, the common people want stability, I want a little more stability in the market; but it is clear that this is just being born and it will take a while to settle down.