Bitcoin Forum

Can Altcoin & Bitcoin wallets be made compatible with USDT (or any other stablecoins)? if  no, why not find ways to make any of the available stable coin compatible with the normal Cryptocurrencies Wallets?

I think a perfect Wallet should contain both a Cryptocurrency and a Stable coin pair. For example:
* Bitcoin Wallet: Bitcoin and USDT.
* Monero Wallet: Monero and USDT.
* Ethereum Wallet: Ethereum and USDT.
* Zcash Wallet: Zcash and USDT
etc..
This should enable people switch between a Cryptocurrency and its stable pair easily. The stable coin has to be thesame for other Cryptocurrencies you wish to pair with so that when you have $5 in the stable coin it will also reflect on all Crypto wallets with the stable coin.
So instead of trading on Centralized dinosaurs aka Centralized exchanges you could easily download as many Wallets as you want on your mobile phone and trade in them. A unified Widget could even be developed ( floating widgets?) for the Wallets to make Exchanging the Crypto "lightening" fast.

   In theory I think it could be a good idea, but practically when you want to buy or sell, there also should be the opposite order.
And you forget about one the purposes of cryptocurrency is to burn such shit like centralized money emission.
If you need to sell your btc or alts, you always can use online exchange, local bitcoin, or telegram bots.

The better way for resolving this problem is implementation of crypto in our everyday life, lightning (https://bitcointalk.org/index.php?topic=3192330.msg33086786#msg33086786) could be the first step.

P.S. It is extremely unsafe to hold your alts on mobile wallets.

Tether is a token on Omni. Omni is a layer on top of Bitcoin. I believe Omni's wallets already allow for transaction in both BTC and Tether.

https://www.omnilayer.org/

Thanks bro!
I guess the Creation of a stable Coin that is compatible with most Cryptocurrencies is the best way to start. Or the creation of a system that easily allows Tether  exchange value with other Cryptocurrencies. Stuff like Atomic swap will do but I read that it has lots of limitations.

Ethereum platform is probably the best place (for now) to create a stable Coin and experiment with that sort of idea due to the numerous amount of tokens it offers.

   And what you think about a steemit where  the cryptocurrency is given in steemit dollar (SD) from action in social network. SD can be accumulated on an internal wallet and after it can be exchanged on Bittrex to the bitcoin or ethereum. The last cryptocurrency tests already at full capacity the Ropsten Test Network which to increase even more the competition among altcoins.
   Also quite good service for accumulation of classical cryptocurrency and altcoins is qoinpro which now has been considerable upgraded. He has the stable currency which can be exchanged on the bitcoin. One more example of a stable coin and a bitcoin in one wallet is the system which is based on waves tokens.

As far as I know tether is also pretty centralized.
Decentralized exchanges like Bisq makes most sense to me.

I think this is possible when crosschain network like Quant Network (QNT) or EXRT Network go live. These Networks exchange a coin for another coin with the help of a third coin (their coins). The process works like this: Coin A - QNT or EXRT - Coin B. This is their plan. Sounds good but I don't know if this is possible ::)

Wouldn't it be possible to implement once Atomic Swaps will be working for all cryptocurrencies?

I think something very similar is already working on Bancor Wallet webapp, but only for selected ERC20 tokens. You can convert all tokens listed on Bancor Network to DAI stablecoin using automated price discovery without any third parties.

The downside of this system is you don't make sell order so you can't choose the exact price.

usdt is a scam, tether doesnt even have the money to back up the printed tethers and they have no obligation to trade money for their tethers. So the tethers are pretty much worthless and they will be exposed soon and it will collapse.

Are you kidding. USDT is a stablecoin? I always thought they would just print coins.

@Dart315

Maybe they print those coins without covering it with real US dollars. It is highly probable, because they are avoiding any audits which could prove it. But that doesn't mean USDT isn't stable coin - it still always cost $1.