Bitcoin Forum

Recently many bounties started ICO based on stable coin, my question now is; do you think stable coin can bring about the desired change in the fluctuation in the crypto market? What is stable coin in the first place? If we dont fully know the advantages, the acceptance may not be much. what is your thought on this?
This headline draw my attention and i needed to share: https://www.ccn.com/stablecoins-are-a-game-changer-says-aussie-crypto-exchange-founder/

At least they can, they will contribute to increase the total market cap of the market.

It has a stable price which is $1 but it still moves a bit from $1<-> $0.99 or few lower cents.

There's a wide acceptance for stable coins just so you know.
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)
Introducing Gemini Dollar, The First Regulated Stable Coin (https://www.investinblockchain.com/gemini-dollar-launch/)

what distinguishes it is the existence of the smart contrak in the coin and also the coin product is successful in the market and growing.

Stable coins were created to back crypto currency with the fiat money, so we do not need to deposit our funds in fiat. Moreover, if you want to stay safe that simply convert your crypto deposit into stable coins and you will be safe from a dump.

it will have no advantages, especially coins that are estimated at less than one dollar. then what is the coin, the only one can be used for gas

IF we finally can see a truly stable coin which is also decentralized then we can see a huge difference in the market because that can effectively make the market stand alone and no longer require the centralization that fiat brings to the market.
traders can use that coin to easily go in and out of altcoins without any worries of dumps or the scam that the stable coin can pull if it were centralized.
but the current ones are all centralized to a company that can scam you so we will continue to see the problems.

Yes! that's true thats why we call it a stable coin. But usually stable coins are backed by fiat currencies like US$ dollars, etc. But we must remember that this so called stable coins are still paired and rely with traditional cryptos like Bitcoin,Ethereum and other crypto's in term of trade volumes without the tradional cryptos the so called stable coins are nothing!

Too bad if the bounty hunters receive stable coins, they can't feel being a token holder and get up to 10x 100x. yes, maybe stable coins are in the first place because of its fair function for some blockchain users ... to transfer money, for payments, for loans and much more.

is it not "undermining" them if every exchange launches their own? is there any reason for it?  ???

Where can we find a truly decentralized coin that would be stable, because stability as we know it, comes with some measure of central control, which is why all the so called stablcoins out there, have a company at their center. I think having both decentralization as well as stability can be more of an illusion or wishful thinking at best.

Stable coins bring the way of making crypto money trading in the simplest way to our lives. Leaving aside its technical aspects, it allows the exchange to avoid holding a bank guarantee during the transition between FIAT and crypto during trade. If each exchange attempts to secure a collateral, the crypto currency exchanges will close half.

the name of the prize is obviously not much, unless we also invest and get the bonus, it will be useful, but it depends on the price on the exchange, if the price of the pump will be an advantage but if not, it is just hope

First, the stable coin is easily influenced by small problems, so, a stable coin is determined by a value behind it. examples such as USDT, Petro, and XRP.

but, a coin stable is bad for crypto trading, the stable coin is better used for a digital transaction, buy coffee, buy pizza, and others.

so, I think that stable coin usage for transactions is easier than bitcoin.

To me it means that you can pull your crypto assets temporarily from the volatile currencies into the stablecoin. What difference does it bring? In what sense? I think there are going to be too many, a few should be sufficient, but ICOs see opportunity, because they are becoming a hit.

In terms of profitability, I cannot see such reason how stable coins can provide opportunities. If you buy a known stable coins and its value isn't changing in time, I think you just like keeping your money in the bank to save and protect it.

I think stable coin bring the most important thing is create a measure of intermediate value, which help altcoins do not depend too much on the value of bitcoin.

My idea is that if an organization or organization wants to issue a stable currency, it must have strong funds behind it to support it, otherwise it will be easy to break the situation when it is online.

It is not.

I don't know the sole reason but the competition is extending up to that point, they aren't only into operation but also with the coin that they are producing. Which causes them to think that they have come up with a better coin that has the solution to its current problem.

In fact, they have come with the same idea without any differences. None of them even publish their audit if each of their coins backed by a real dollar. This is why the price of the stable coin can go even lower. Remember when tether and any other stable coin go below $1. Just like $0.9 for example and it doesn't make sense.

A lot. I for one believe Tether has done so much for the space than people are giving it credit form, if you look at the success rate of Tether and that of BTC it has a positive correlation and because people see it as a cool money and what do you do to have a cut of the marketshare, FUS the project. I know for sure that Tether do not have all the billions of USD in their account but I know they have a sufficient amount to support the marketcap and that is how a banking system work, how many Stablecoins in the space now has open up their account to public, for what I know none so far

Yes they have same idea but it has difference.

AFAIK the thing that made them different is that they are backed up with real money - US dollar. And they are registered to the government and was authorized to have this type of coin. They will not be supported by the government if they aren't really backed up with dollar.

Stable coins are not a must. However, it is clear that it provides convenience for the market. A lot of exchanges have a big trade volume.

I highly doubt stable coins are something that will stay for a long time. They bring nothing to the table regular money can't and can be replaced by fiat right away. I think they are used for traders ease right now but we are in a bear market and there is not much volume for anything right now so they seem like good fits considering they do not have volume as well.

When the crypto world skyrockets and goes up and when the stablecoins stay the same there will be a reaction to how their volume is still low compared to rising crypto volume and than they will become obsolete. Until that time we have to live with them but they will be here for a short time. People will prefer regular fiat over fiat based token any day of the week, there is no point of using the token version when you can have the real one.

      Stable currency cryptocurrency offers some advantages compared to fiat money. Many invest in stable currencies (those in TOP cryptocurrency), so they can not deposit their money in the bank. It is much safer in the crypto market and any increase in the coin brings substantial profit. There are certain currencies in which you invest and receive interest. For example, if you invest in onthology, long-term Onthology GAS (ONG) is generated. The stable, top coins offer the investor certain security. That's why the investment in the crypto market must be seen as a long-term investment.

in my opinion, stable coins are very important in crypto because we can feel the impact when other coins experience a dump we can secure our funds into stable coins first because if it is to be made fiat money certainly requires a little longer time.

A stable coin can help the cryptocurrencies to be used as actual currencies since people do not want to use the cryptos if they are not sure that their coins are going to stay the same value. Although now the stable coins that we have do not seem to be very stable and a stable coin has to remain at the same price for all time for it to be a useful coin

The Crypto market cap is supposed to increase significantly in the coming years, as well as the number of users and traders. With a lot of doubt around Tether, it can not serve the whale taders in the future, so many companies took the advantage and created their own stable coins to serve different kinds of traders. That how I see stable coins.