Bitcoin Forum

Stable coins, asset backed tokens, lambo backed coins...it's the fashion of the moment.
I was trying to find out if there are tokens/coins pegged to BTC. And I know there are some "single purpose" BTC pegged coins like LBTC (Liquid Sidechain).

Added value BTC pegged token could be a nice product?

An system where you can buy and sell without the need of exchange is something that is we are not going to very soon. even then how much that system will attract the incestor or how mch reliable it will be is aburning question, Hopefully it will be helpful for us in the long run.

The crypto is the coin of the future so any idea which will help it to evolve will be welcomed. Also, btc pegged coins would stick to the bitcoin and it might not fall back, so this would be better for crypto exchange too.

crypto is a land where all digital financial developments are always well received, BTC as the most popular cryptocurrency is now the largest developer and largest distributor in the world of crypto, so if BTC experiences good development, it is an improvement in the world of crypto itself, so it's not a bad idea if the value of BTC tokens increases, it can certainly be a very good product

The purpose of the stable coins are to tackle the volatility in the market and give assistance or relief to investors on stability of their investment. That is why stable coins are pegged with another stable assets like US dollar, gold etc. In terms Bitcoin, IMO Bitcoin and most of the altcoins are volatile and are not stable they can go higher or lower in price as per the market conditions, so chances are very very low that we will be able to see stable coins pegged to BTC in future.

People are maybe looking for more value and stability but still in the framework of cryptocurrency and this can be the big reason why we have stablecoins taking the spotlight. And i think this is going to be a good development for the whole cryptocurrency market...we need more projects pegged to things we know can be valuable or solid like gold, diamonds, fiat money or as what you are stating here to Bitcoin which I find really interesting. Let's see how this trend can be influencing the whole market in days to come. Personally, though, I welcome this development with open arms which is showing us that we are now evolving.

It is a tough question really. USDT showed a lot of potential initially, but now it is not doing so well. Its a bit early to tell. Lets just see how LBTC works out.

Cryptocurrency enthusiasts are always at the mercy of price volatility. When Bitcoin goes down in value in fiat, the aktcoins rise in value against bitcoins. The relationship of altcoins with bitcoin is direct and never be independent.

Linking a stable koin to bitcoin is not the best idea, since it is a virtual currency and the meaning of the stable koin, so that it would be tied to the usual assets of institutional investors. For example dollar, pound or gold

No, I don't think this is a good idea. It seems to me that there are some coins that are tied to the dollar and no longer need other coins like these. it makes no sense

 Pegged crypto currency usually indicates a coin or asset issued on a blockchain that is linked to a specific value of a bank based currency. In usual cases, these coins are pegged to the US Dollar, as it is the one currency that has the most control over the financial sector. Tether is an example of this as their USDT is pegged at 1$ at all times. In regards to BTC having something like this remains to be seen as nothing can be said for sure that something like this can be considered or not. Maybe if more people want something like this the idea might come to reality but for now it is unsure.

I could agree with you.
But my idea is that stable coin is an added value technology, so that an old asset can gain new features.
So Bitcoin, an "old" and single purpose cryptocurrency, could get different features (for example smart contracts, more speed, and more) just adopting a BTC-pegged stable coin

Well, your idea is that stable coins are useful only if they are pegged to the US dollar.
I don't think so.
For example, gold or diamond can be considered stable, but have got some volatility if traded vs USD. So gold pegged stable coins can't be real?

And the volatility can be interpreted in the two opposite directions, just flip the BTC/USD table  ;D ;D

My idea is: stable coins are useful not only because they are "stable", but mainly because they are coins.
For example, USDT gives to USD the superpower to be a cryptocurrency.
If you want to give to BTC the superpower to be traded faster than 10 min, you could create a BTC pegged stable coin...stupid idea?

Due to the volatility of Bitcoin and other crypto assets, institutional investors will be more interested with crypto that are pegged to established fiats like the  USD, EURO, POUND, etc. BTC pegged alts will suffer the same volatility that BTC suffers

It is always good and it is the safest electronic currency ever. Bitconnect may crash, Tether may lose value but Bitcoin is not. It's a legendary electronic money and there are a lot of people trading everyday. always has the highest market capitalization in the Crypto market and has the highest volume in the market. That is a sign that it is one of the great electronic coins.

Nah, those don´t make sense at all. You can just get bitcoin and it will save you having to trust a thrid crypto. The only real application is leveraged buys and sell if you are in that business.

These BTC pegged Altcoins are rarely sucessful. It is better to invest in independed coins as the partnership in pegging deteriorates after a while.

Bitcoin pegged altcoins usually makes a lot of buzz at the beginning and later thrives to survive. We can learn from this coins that using a big name only does not help to survive, innovations help.

BTC pegged Altcoins are not successful most of the times as bitcoin cannot maintain them; backing by the name Bitcoin, does create a buzz initially, but never do good for themselves. Actually there is none that I can suggest yoo.

There are many bitcoin pegged altcoins there in the market but none has the value grade as the bitcoin. Only bcaked by bitcoin can give them the initial name for them but most of them does not have the potentiality to go by or stay put. Bitcoin pegged, to advise according to me, is a great loss. Oneshould keep away from it.

The stable coin USDT is the US dollar. Because it is relatively stable. It can encrypt when the market fluctuates too much. Maintain market stability. Because BTC is unstable. So it is very difficult to match it.

I don't think there are any coins that are backed by BTC and neither do I think there will be because bitcoin is itself a decentralized currency meaning nobody has the control over it.
If nobody has the control over it how come can it back any other asset or currency ?
I think you got your answer now. Also, there are coins that are a modified version of bitcoin i.e., the forked coins like Bitcoin cash, bitcoin gold etc.. which claims to be a better version of bitcoin but you see that none of them are actually better then bitcoin. So the point of a coin being backed by Bitcoin is actually pointless.

Pegged Altcoins can be useful if these altcoins carry some meaning for the common good and are used in current life.

Bitcoin is not tied to altcoins themselves. They follow it not because bitcoin is the main coin in the cryptocurrency world. But because traders are engaged in transfusion of money from one to another and Vice versa. This is the most common mechanics of the market

Unless they actually solve some issue they're completely pointless, people can just buy or sell bitcoin there's no need for a pegged coin. Even the some with uses I am highly skeptical of because it can easily end up in a similar situation to tether where no one is really sure if they will honour their commitments. Stick to normal BTC and you'll be fine.

There is no way that a coin can be useful unless it has some kind of product that can be useful to humans when they are using the coin, If the coins are not solving some kind of problem or are not being incorporated into some kind of system to make it better then it is just another useless coin that has been put into the market, nothing more