Bitcoin Forum

Lot of stablecoin projects coming out in the space. Coinbase added USDC and Bancor went Live with Peg network today! https://twitter.com/Bancor/status/1057571877064003584 (https://twitter.com/Bancor/status/1057571877064003584)

after the bad surprise experienced by tether yesterday, then there are many stable coin variants born and each exchange tries to make their own stable coin version. this is just hype and they are trying to take advantage of the trends that occur. but everything will return to normal and btc will remain the main pair in every crypto exchange, because that's what is worth it.

Can i trust them all? and i can't. Most of them are not transparent and i can't even believe them all. In fact that even tether as the biggest stable coin still can't even prove the result of its audit about the reserved funds to backed tether stable coin. This needs a lot of effort to determine which is the best stable coin from all of them.

I don't know if they will, really. I don't see the advantages of investing in stablecoins. Maybe just to safe funds from any fiat connected unrests. If there will be some such situations with dollar than yes - people will enter stablecoins, and it will be good for bitcoin - some will buy it to diversify risks so the price can rise.
But I'm in doubt with dollar instability - I think everything will be calm in next few years

stabletokens - can not be a new advantage of cryptocurrency, as most people invest in cryptocurrency for profit.

If you invest in stabletokens, then the profit is difficult to get)

I don't think so, these tokens have no utility outside exchanges and there are too many doubts about their reliability. At the end, only one or two of them will be adopted by exchanges and in a few months we will not hear about them anymore.

Actually these tokens definitely have utility which is for money transfer and really good at that. No volatility whatsoever and the token is backed up with real world money.
It's a crypto that was created for reserving wealth and it will lasts long because the existence of reserved money behind that token making people less paranoid.

There can be only one

bitbay

the project basically has all you need to have a trustless decentralised market place with a smoothing pegging system.

most other pegs are not comparable in the true spirit of this arena

Price stability is somewhat good for the cryptocurrency. But, investors look at this stability as less profit. This might not be attractive to investors at the start, however, in the long run the stability of any cryptocurrency will be good for its adoption.

yes they are, i think stable coin will made crypto growth more progressive and will bring more investors to the platform, so stable coin was a positive

I agree with you.
I think that many investors like the risk of investing so they can make a profit, not just save money in crypto alone.

In general, stable coins are very convenient to use. Especially if they are already backed by the currency they are digitizing. However, of course, there may be, as always, a bust in their numbers. However, the market will still remove those that are not in demand.
In principle, I am pleased with the appearance of stable coins.

Many stabletokens appeared when there were doubts about the security of tether. Even exchanges issue their own stabletokens. But yesterday we saw the news that tether has been audited and has a sufficiently large amount of collateral 1.8 billion dollars.

Well for investors and traders new stablecoins does not bring anything attractive other than more transparency and security and as an alternative of usdt and fiat, i do not think these coins are profitable as their value is fixed.

If token turns to be stable then it's more or less like FIAT. Base on my knowledge, I don't think cryptocurrency should be stable in value at all.  Stable tokens would only help in savings not gonna work out as assets base on my understanding. I would love to know much about stable tokens though 

Exactly my point buddy! They are not profitable in any sense, if all cryptocurrency is stable, then it won't work as asset anymore but savings measure.  What would traders gain?

They may be the new hype but that does really matter?

The one that will be hyped are the ones that will be backed up with real dollars. Like USDC, the recent news is a good one for it.

The USDC Stablecoin is launching on Coinbase Pro (https://blog.coinbase.com/the-usdc-stablecoin-is-launching-on-coinbase-pro-b2b3352d65b9)
Coinbase and Circle announce the launch of USDC — a Digital Dollar (https://blog.coinbase.com/coinbase-and-circle-announce-the-launch-of-usdc-a-digital-dollar-2cd6548d237)

I don't like too much stabletokens. I only like USDT. As long as USDT keeps its openness and transparency. Then everything is not a problem. I would love to see many competitors in the encryption market. These stabletokens will generate competition to maintain market stability.

I'm guessing it would affect the Bitcoin price before the Altcoins. In the meantime, according to a report I read a new stable coin is coming today. The name is Stable USD (USDS). I guess it's not gonna end. We were talking about the number of ICOs but the number of Stable coins will catch ICOs in a short time.

I don't like stablecoin, they are trying to launch their own stablecoin after tether scandal, i don't like this because there is no true insurance for the stablecoin they created. Why we need stablecoin, why we don't use real usd to trade with cryptocurrency.

I don't think it will be. There are too many stablecoins now. So if we have a too many options, it may be less valueable ever has be.

I don't think so, with all of the things that is going on with tether right now there is no way that people are going to be able to trust stable coins any more. There just is no way that a coin can boast to stay at the same price through out its entire life span and that is a fact. Then add the fact that cryptocurrencies are very volatile and then you have a recipe for disaster

I think that the role and the level of availability of the stablecoins on the crypto market are overrated. Too many nuances stablecoins have. And lots of people do not trust such kind of coins nowadays. And the amount of them on the crypto market is rising. So I even don't know, will it be a new hipe or not. May be some day in future, but not nowadays.

Stablecoins would never have such a hype and such a potential as altcoins. Because stable coins are backed by the fiat currencies and theoretically, they cannot overcome the fiat price of a currency on what they are based on.

that is mandatory after the price drop of tether also the benefit is restricted of keeping your money value only as these coins are not for invest

Stable coins are necessary and they are basically there for investors when it comes to their ability to hedge their assets in the case of a bear trend.

Tether lost it a long time ago when a lot of shady things started popping up and the team refused auditing and that is an act that is questionable and worrying which has made a lot of investors to get worried using it. Now, that there are alternatives that solve that problem, I believe it is just a matter of time, we will see USDT losing that spot as a stable coin in the long run.

As long as the investors get what they need when it comes to transparency, then there is no problem. It is not like an investor will be investing in a stable coin for the long term anyway, it is just to hedge for the mean time and in that mean time, at least, I want to be sure I am not in the wrong hands.

I do not think they provide anything worthy aside from using on their own platforms. For example using USDC on circle or poloniex makes sense because there are people who can withdraw that directly to their bank accounts, of course it doesn't make any sense to use it if you are living in a country where you can't withdraw the money but if you can cash it out to your bank directly than it definitely is a useful coin.

Aside from helping with that the idea was to keep your cash in fiat while crypto is on a drop and if you wanted to do that on multiple currency exchanges you had to usually withdraw bitcoin to your local website and cash it out which took time and effort and cost you, with the stabletokens it is simple but it is also dangerous because it is not actually backed by dollar but only symbolizes it.

There is nothing like hype when it comes to stable coins and may be you are not getting it, stable coins are pegged to something that is physically backed and there is no way we can see an increase in value since it is controlled. So the being valuable of a thing is not at all some necessary factor to be looking at, considering that the main reason they are available is to be able to hedge funds that is all.

As long as the stable coins’ popping up does not end up like tether in the long run, and they give room for transparency, which is an edge most of them are having over tether, then there will be no cause for alarm.

Yes, it should be a new trend and I see this tendency.
4-5 new stable coins have appeared this year.
More will appear soon.

I personally don't think you can consider it a pretty good coins around which is to create a hype, but the fact remains and this is not the first theme which is created to ask about these "stable coin."

It seems that in these stable tokens at the moment there is a prospect for trading. And many traders are looking for an opportunity to earn in this area.At the moment, there is a resistance to the drawdown of many such coins.

That I can not understand why do we need these coins. I personally will not invest in them and I do not see them to be stable.

perhaps and advertisements. this is an attempt to look at the cryptocurrency from the other side, as, for example, different States try to look at the cryptocurrency.