Bitcoin Forum

In many parts of the world there are finance related constraints that feed into economic difficulties which fuel global challenges such as illegal migrations and wars. Some of the difficulties include basic cross-country financial transactions, access to payment gateways, e-commerce, banking and fund raising. Cryptocurrency is seen as a promising avenue to empower such societies and eliminate some finance related constraints. Cryptocurrency volatility as well as speed remain a disincentive for utility and rapid mass adoption. It is at this point that stablecoins get into the picture.

Can they provide the much needed stability while also offering the benefits associated with cryptocurrency?
Can they eliminate the constraints associated with country specific currencies?
Can they improve economic activities for disadvantaged societies in the short-term?

While there are many exchanges with forex-styled trading, escrows and casino related projects, I find this particular project https://crowdfundit.live/ which attempts to build a crowd funding platform integrating a cryptocurrency (tether USDT) interesting.

I have been wondering what other applications could be built on tether or other stablecoins to enable societies that may otherwise be excluded.

What are some of the ideas and what is your take on the potential of tether and other stable coins in this regard?

Though tether will not be good enough for long term investment I believe sake of its stability it will be good to hold some tether so that in times decline in the value of bitcoin and the other cryptos you will be a bit secured.

I don't think it is good to hold tether for a long time because it is same as living your money in the bank, the only difference is that you are not going to pass through any KYC whatsoever to hodl USDT, except from this, it is best to hold other crypto coin then USDT.

I believe USDT should be mainly used for trading on exchange because it's a stable coin and does not lose value or gain value like other coins we have in the market thereby making it a good way to make profit when carrying out a swap on exchange.

USDT is currency which is necessary to store your money stable for a short time. As a matter of fact, I never use the USDT. Perhaps devs will disappear one day. The daily volume is so big and this is the only convincing thing.

A fiat based cryptocurrency is a solution to many of the problems.
One of the reason why people are not readily using crypto is their unpredictability of value. The only reason many lending and investment site failed is due to the price change which outshadows the interest.

I don't trust stablecoins because they are provided with Fiat funds and depend on them. Imagine how many dollars are printed in the United States. If there is another financial crisis, it will affect stablecoin USDT.