Bitcoin Forum

So far USDT/TUSD and many other stable coins do a great job for crypto holders. but always there is a cost for transfer them. today USDT transferring cost is 4 USDT from the exchanges and 0.5 USD in BTC (0.00010546 BTC) from OMNI wallet.

and TUSD cost is 0.9 TUSD from Exchanges and 0.05 USD in ETH (0.0003722 Ether) comparing TUSD and USDT, TUSD transferring cost is less but if Ether price rise this will be more expensive.so I think BTC based and ETH based Stable coins will fail in near future if a neo-based stable coin comes the market.

So anyone can transfer stable Tokens free and it will generate more powerful fund flow through all the exchanges. This is only my thought and I will more happy if you can add your thought and suggestions about this topic.
Thanks

i really don't understand the point of stable "tokens". a stable coin is a standalone blockchain that doesn't rely on any other coin and its blockchain. for example although Tether is a layer on top of bitcoin you still mine its blocks individually and it has its own blockchian. but a token will reply on another chain forever and if anything happens to that, they will be affected to. not to mention that they will be limited because development-wise you are limited to what the platform offers you.

As far as i understand, stable coins are created in order to neutralize possible losses and the likes, but i think as the time goes by. this stable coins would increase their fees as well, making it more stable but as the new emerging technology is created, i dont know what will happen, hopefully not like the other alts.

Tether was discussing a period. Currently, each platfrom coin creates its own stable coin. This is not pleasant. There will be difficulties in the future.

And how can this change the stable coin history when any stable coin has the same advantage and usefulness to neutralize the possibility to get lost by converting our profit to the stable coin. I don't see any point how it can give a lot of changes.

I am focusing on transferring fees,USDT and TUSD fees are already high..if btc above $20,000 this will be very high. that is why I prefer neo-based stable token.

Hey. what do you think about this forecast?

Neo Price Prediction 2019 - Neo Price To Touch $200 USD by 2019 End
https://coinswitch.co/news/neo-price-prediction-2019-neo-price-to-touch-200-usd-by-2019-latest-neo-price-update (https://coinswitch.co/news/neo-price-prediction-2019-neo-price-to-touch-200-usd-by-2019-latest-neo-price-update)

how realistic is that?

No, I don't think that NEO based stable coin will disrupt the current system.

Obviously it is pegged to USD as well so how can it re-shape the existing ecosystem of a lot of stable coins right now?

This is just another hype, I don't know what's the exact reason for them to jump right now. Funds is already flowing, and more investors are hedging their funds into any stable coins right now. My only suspect is that NEO or the team behind just wanted to compete with the rest of the stable coins and take some piece of the pie.

So this Neo based stable coins advantage over the existing and established stable coins is zero transfer fee? What is this Neo based stable coin anyway?

Indeed, neo-based stable token transferring fee will be ''0'' just like other tokens (gas,nex,etc) on neo blockchain. but still no stable token based NEO..I think in the near future someone will build one..

There will be no or only minimum effect on the transfer fees when you transfer your funds from the centralized exchanges with use of stable Token Pegged to US Dollar using Neo Blockchain. Most of the exchanges charges trading fees & as well as cut on the withdrawal fee along with the network fees based on their services. It will be great to see NEO based Stable Coin as we have already heard USDT is Moving to tron blockchain in Q2.

I still don't understand what is the advantage of having a stablecoin...if I need to have $ or Eur I think it's better to change crypto to FIAT. Also there is no stablecoin that is guaranteed by a trusted third party escrow.

From my point of view, all these stable tokens or coins that are tied to fiat funds will in any case have the same effect. Sooner or later they will have to dry out. Therefore, I think that cryptocurrencies do not need them.

You got the point  ;) ;)

It doesn't matter which platform a stable coin is listed, the most important thing here is trust, do people trust that the tokens you offered are being backed by assure asset, we have many stable coins in 2018 and none so far as big influence in the space as Tether. Again remember if you are moving 10USDT and 1000USDT you pay themsame transaction fees, so your argument here seems faulty in its premiss

Lately, it seems most people are interested in projects that seeks to create stable coins. You need to understand that the high volatility on the crypto markets does not allow room for more stable coins. Although tether and co have achieved high level of success as stable coins, many projects have failed to produce stable coins.

every time a moderately new coin comes out people think the same thing, they always say this is going to change everything and be the number one. but each time we are only left with a big disappointment as we see these new coins are no different than the older versions of themselves. they just have a new name and a new face but they are exactly the same everywhere else that counts.

Not all exchanges offer fiat trading pairs, so stablecoins are quite handy to trade on decentralized exchanges for example.
Now, whether it's safe to hold your funds in those stablecoins is a whole different story...

Well OP, that is an opinion you have just given. We must have to wait for stable coin to be lunched on  NEO platform and see if it will disrupt those that already exist on other platforms, such as ethereum's.
Transferring USDT might be expensive, but let's also take cognisance of others, since there are several of ten.

I am unaware that NEO will innovate on this. But I have a question that interests me. How much fee will NEO charge? Perhaps the current price is less, but will it be less when the price will the same as BTC?

maybe, It already touched $180 feb 2018. touching again will be very easy when bull market starts.

99% crypto exchanges use crypto/crypto trading pairs not crypto/FIAT. so can you change your Crypto to FIAT every day or on every exchange when you need, That is the advantage of having Stable coins


you are right here this is still a real problem.

It will be ''0'' when transferring among neo blockchain

It totally depends on how transparent the neo team are towards the stable coin, because I can tell you that 80% of the stable coin in the market lie about how they come about their market being stable.

Stable coin are mostly centralized and the only difference between stable coin and the bank itself is that unlike financial institutions, stable coins don't ask for verification before making purchase which is a very good thing because one can hold all his/her funds in a stable coin that will never lose its value or gain more value.

I believe that this is another useless coin that no one needs at this stage of market development. I think that now there are too many stablecoins.

Well if the Neo network is coming up with an instant transaction and zero fee stable coin then obviously it is going to be massive because it will stand out from the competition i hope this will be launched soon and also it will bring massive gains to neo holders as well.

I think you have some wrong idea about stable coin. First of all, stable coins are for the liquidity of your investment and taking some instant profit. There's no other reason. If you are referring to the fee, it's nothing. You will not liquid $10 with tether. It will be a big amount where $4 is a tiny amount.

I think this whole Vaznya with stable coins just because investors are thrown at money. Who wants a stable coin without growth. I need something that will change my life 1 once and for all.

There is lots of different stable coins on different blockchains.

I don't think any of them did or will change the history neither neo-based stable coin won't.

you are in a wrong idea too..fee will be a very big problem if BTC passes the $50,000 mark. No one will use BTC/USDT/Crypto if they need to pay $10-$20 fee per transaction.

I never used stable coins but as far as I know, exchange charges btc as fee when you send btc, eth when you send eth and USDT when you send USDT. If that's the case, how can the fee turn into $10-$20. Looks like I have missed a little to some part of your theory.

Fee will increase when unconfirmed transaction increase and btc/eth value increased. It happened last crypto boom(2017 dec). and you can see another up movement last week.Here is the link for block details (https://www.blockchain.com/charts/mempool-count?timespan=all)

So maybe people can convert their bitcoin to another coin before they can send it into another wallet. That is what they can do if they don't want to pay with a high fee. Luckily, we have so many coins that we can choose, and many of them don't have a high fee for the transaction fee so we can easily choose one coin to be converted from bitcoin.