Bitcoin Forum

Pls I'd like to be enlightened on the importance of stable coin in the crypto space... I hear Facebook coin will be a stable currency... what are the use of stable coins??

The advantages of stable coins are that they are very good in long-term investments. You can get a stable and good income with them.

For Facebook, it is the ability to use your payment system and on the basis of it use a whole ecosystem, within which you can develop not only applications, but your personal blockchain.

Well, a stable coin has the only price always. A company like FB should make a stable coin. It will be used as a platform for payments. This is not bad. I think this is caused by regulators in the inside of the country.

stable coin is a coin covered by something.  stable coin prices are determined by the utility that supports it.  This stable coin is always used to store and save assets from a bad economy such as the monetary crisis.

Stable coins in my opinion are none investment coins, because they are said to have fixed prices and are just used to fix the price of one's portfolio without increase or decrease in value of price.
It has t's own advantages as well as disadvantages. You should not  expect profit by investing in a stable coin. expect in special cases where dividends are given to its holders.

Stablecoins is a coin where they were not pretended to pump or dump the coins, so it would be more stable for its price just like usdt and usds and much others.

I just see stable coin as the name implies, coins that are stable at a particular price, apart from this I don't think there is any investment attachment to any stable coin in existence since the price is static and doesn't fluctuate like that of Bitcoin and other cryptocurrency, the only good thing about stable coins is that you can use them in place of fiat and not get monitored by any government body or individual making it easier to use in any part of the world, no kyc is required for any reason whatsoever.

Well, for example, traders use stable coins as a tool for trading. It is one of the possible applications of stable coins.

The current basic use of most stable coins in the crypto ecosystem is trading them against other cryptocurrencies like Ethereum and Bitcoin. Due to how stable they are, most crypto traders prefer trading other coins with stable coins.

Stable coin's price would be fixed with any fiat currency in circulation. It would make it's price highly stable. Being stable in price, users can anytime convert it into fiat of vice versa without have to deal with the exchange rates.
As for why do we need stablecoin, fiat currency is troublesome to transact digitally and moreover troublesome to transact internationally. One of the reasons facebook is having trouble getting advertisement is the payment processor integrated in it are not supported worldwide.

Use of stable coins? Hmm??? I don't see any use for the stable coin other than for trading purpose.

Didn't know much about facebook coin,if it is real then better to avoid on these kind of centralized crypto currency which have stable or volatile value.

They are useless, honestly stable coins are just centralized coin that they have a fixed release price that doesn't change, and it is created for the reason to be used on a specific platform, like what is happening with facebook, they are creating the new coin GlobalCoin in 2020 that is going to be used on Instagram, whatsup and Facebook, stable coins are not that popular among the crypto community because they are centralized and have no profit from them.

In the crypto space, they are useful for exchanges that don't deal with fiat. Also useful when trading, as it can be quicker to send crypto than cash.

As for Facebook, don't know exactly how they plan to use it. I expect to buy something they'll benefit from. There won't really be investment potential with it, unless they institute some sort of rewards system. But then they may be getting into securities territory, so I expect that won't happen.

Facebook will not have a stable coin. The course should be linked to: dollar, euro, bitcoin. Ordinary money is also not stable, since it is subject to inflation. The most stable at the moment - bitcoin, although sometimes it falls very low. But you can only earn on it.

But they will claim that they have more usability than the volatile decentralized crypto currencies.But centralized are more danger and we don't need any of them when we already have fiat in the digital form.

stable coins price are fixed. if you want to invest then stable coins are not a good choice. they can be use in trading but you won't get profit from it.

Based on personal experience, I used it to hedge my self from losing, especially when the price is falling.
We certainly have a lot of stable coins in the market, facebook coin would only be one of the many, but probably the biggest.
It was not launch yet, so we cannot tell what's its purpose really.

I'd like to share this article I just found, you can read it as it exchanges what is stable coin.

https://cryptocurrencyfacts.com/what-is-a-stable-coin/

Stable coins are generally used to hedge your fund. It may be during the bearish or bullish time. Say you think price of a coin will be decreased, you traded that coin for a stable coin. The same when a coin's price increase a little you can hedge your coin with a stable coin.

I do not like stable coins it is not usually giving to me a nice good profit because their prices is minimal to increase in the crypto market usually it is using for trading most of the time that stable coins, maybe stable coins was also good for long term.

The advantage of stable coin to me is that price fluctuations do not affect it like it does to the entire market. Stable coins are pegged to FIAT currencies like USDT, TUSD, USDC pegged to USD, so 1USDT for instance is approximately 1usd, there might be slight fluctuations but almost negligible. Facebook coin will be a stable coin to ensure the volatility of crypto market doesn't affect it.

For a business that is very stable in the stock market, they will certainly not want their prices manipulated in the crypto market. That's the first reason.
The second reason is that they just want to establish relationships with many businesses and want to pay more easily with advertising costs and many other services.
they will also have their own strategies to earn more revenue in the crypto market. and the US economy has risen again thanks to Facebook.

Stable coins are not exposed to price volatility like other coins such as Bitcoin and Ethereum. Therefore the price of your stable coin holdings will remain same anytime.

One important use case of stable coins is that you can enjoy to keeping your wealth in the the digital form instead of traditional fiat money in the form of  physical cash without exposing to any change of your wealth. This means, you don't have to keep them in a safe locker or bank or any other physical location.

Another use case of stable coins is that it can be used for trading. In a bear market/trend, value of regular cryptocurrency such as Bitcoin goes down against traditional fiat currency. Therefore, keeping your digital currency in the form of stable coin which is pegged to USD or EUR will help you to not to become unprofitable in a bear market.

I trade crypto coins every day. By utilizing price changes in a coin that every day happens to generate profit. But if this coin of Facebook will be a stable coin will certainly be very difficult to generate profit. And it will be difficult to attract the attention of investors because of the absence of developments in the coin.

Stable coins can be used only for trading, right now I don't know any other ways to use stable coins

the importance of stable coins for us as investors can to save coins as a safe thing to avoid losses, for example USDT stable coin prices and can be an alternative deposit such as gold.
If Facebook coins can be like that, I think it's useful for safe deposit coin choices.

It may not be so much pointless for stable coins. We make a profit because the price of the coin has increased price. So the changes that happen to the coin and especially Bitcoin will have an impact on all the coins. If Facebook coins exist, I think the price will be threaded. And if it stabilizes it will be difficult because we see from this long already happening inside the market.

Honestly, stable coins only becomes useless because these are just centralized coin that they have a fixed release price that doesn't change. Stable coins are not that popular among the crypto community because they are centralized and only gives you a minimal amount of profit. Unlike bitcoin, ETH and Dencoins token that has a highly rate and well known.

Perhaps the stability of the cryptocurrency, in the actual use process, more convenient for us to operate, more practical, BTC now slowly feel the replacement of gold status, there are storage functions, I hope that BTC can small transactions, increase operational.

BTC already allows you to make small transactions using the lightning network. in the future, we will all see that bitcoin can be used by a lot of ways and then many cryptocurrencies will simply go away

Stable coins are used to move crypto assets such as eth and xrp so that the value of fixed assets even though the market is bearish,
and for Facebook coins I don't know whether or not to set a coin or not.

I think the primary purpose of stable coins is to protect crypto holders from the effects of high volatility of cryptocurrency and thus making their investments more secure by providing it with a safe haven crypto. Though there has been debated and outstanding issues with regards to its nature, stable coins did have a very important use case in cryptoverse.

Stablecoin is used for pegging crypto based currency to fiat currencies.  So Facebook currency will  be pegged to the USD and probably other fiat currencies. 
Also stablecoin is mostly used by traders to protect their funds from cryptocurrency volatility.

The advantage is that we can use stable coins to hold money on and when we want we can buy crypto coins with, but i think is risky to hold a lot of money on stable coins because if they are not backed up by real money they can drop.

A stable coin can be used to pay for something and not be afraid that its price can change greatly in a short period of time. That's what Facebook needs. It will be much more convenient for them.

now we have seen too much stabilcoin and will stable coins have an impact on the growth of the cryptocurrency world or vice versa?
I can't imagine if there is a lot of stablecoin on one market and there will be other crypto pairs.

A stable coin is exactly what it sounds like, a coin with stability, whereas stable =  an almost static price. If you buy Bitcoin and are afraid the bear might attack (downtrend), you could then lock your balance away with a stable coin and keep relatively the same amount of money you had before the bear attacked.
    If a stable coin is worth $1, the price will most likely stay very close to being a dollar, without fear of it crashing to $0, hence it being stable!
   Many stable coins are backed by real dollars, or assets in order to achieve stability.

The use of coins is stable, usually future coins can be used as legitimate payments and can be accepted by many spaces in all institutions and it is clear that if the coins are stable, prices will continue to be stable like Bitcoin Then stable coins are suitable for investment? of course not if we want prices and profits quickly, so it's better to invest in unstable coins but vice versa if we want a long-term not wrong if we choose a stable coin.

in terms of usage, which is often used by many people is using stablecoin as security assets if there is a decline in the crypto market, so they exchange their bitcoin or altcoin so that the value in $ does not go down and from what I see there is also one of payment. because the price resembles the dollar rate and certainly there are many other uses. perhaps stable coin is also used as collateral to borrow money

Once people have earned their profits from crypto, they want to use it for other purposes. For example, to pay for any services. Facebook releases its coin for this purpose.

Is facebook launching a stablecoin? As far as I know it's not a stablecoin but however they will maintain the price movement and will not be volatile. They will controll it. That's why I would definitely not like this kind of coins.

Excuse a question, Facebook will have a currency or will it be a token?
I think it could not be a stable currency, because many enthusiasts of social networks will certainly acquire the currency,
 but if they do it as a cryptocurrency it would be much better, because it gives more
 credibility to the technology along with the decentralized economy that can be managed on Facebook.

A stable cryptocurrency can be used much more widely than the cryptocurrency that exists at the moment.
Now the majority of altcoins remain in the hands of investors who want to earn billions on the growth of their exchange rate.
The emergence of a publicly available decentralized digital currency with a fixed exchange rate can become a welcome alternative to the dollar for residents of countries with unstable economic systems (Venezuela, for instance).

When it is launched by facebook then it will not be a decetralized crypto because they are not going to give control of their network to the community so it might be a stable coin or not but it is going to be a centralized cryptos like ripple.

Stablecoins (https://coincodex.com/stablecoins/) will surely play an important role in the future. We need them in order to do some serious business in the payment sector.

They may or may not play an important role in the future. But their reliability will always be under question. Even if a particular stablecoin manages to get 100% backup with fiat cash, there is no guarantee that these assets will not be either seized or stolen in the future. And that is the problem when you deal with fiat cash instead of decentralized crypto.

Stable coins make it possible to fix profits at the beginning of the market correction. What then gives you to buy at the lowest price. So same win fiat money better through stable coin.

There are no stable coins in the world of cryptocurrency.  As for me, the most stable coin is bitcoin.  Because he often fixes his price.

Stable coins are an important part of the world of cryptocurrency, it is important to be stable as a means of transferring pure currency to crypto, crypto money is very unstable, investors will choose stable coins as the first exchange tool before trading in other coins. and the prices of their assets remain stable in the form of stable coins.

You know why people love stability because they want not to see the price going in the down direction. In stable sources there is hardly any decrease in the price and with the passage of time as long term the investor gets its profit. On the other hand, crypto coins are not stable and that is why utmost profitability occurs here but it is necessary to learn and understand each and everything to do so.

Stablecoin is a coin where they do not pump a lot or throw coins and increase the price of coins is not too much, many examples of coins that are already on the market with stable coins

We're not sure about it and in me I don't know where will the facebook coin will be used or what it's used. You are looking for a stable coin? USDT is the most stable coin on the market it's a stable coin that is alternative to bitcoin it was used to facilitate the transfer of national currency.

You can also refer to fiat in regards with the stability compare them all to cryptocurrency such as Bitcoin and Ethereum which is really volatile.

Stablecoin should be at a value with the same point, different reality on the stablecoin dude IMO is not a necessity invest it to get profit in the long term. Well Important or not depending on your needs right, all crypto high risk including stablecoin my advice is better to take in the crypto space that is unstablecoin for long term ;).

in my opinion the most stable coin to date is only USDT USDT rarely once dump and pump and when you buy a stable coin maybe you will long get very little profit and loss

Most stable coins are usually pegged to a static value like dollar. 1 stable coin will equal to 1 usd, so they don’t usually fluctuate that much and can be useful to retain the value of one’s fund. I also think Facebook coin will be a stable coin which will be more useful for those that are running their business through Facebook.

I don’t think it will be of any use that much to investors since it will have like zero volatility. Moreover, the coin will be more used internally, the way ripple is being used more by bankers since it is a banking product, while Facebook will be used more by its user and not for general people.

The importance or stability of coins depends on the needs of a user. stable coins that are specifically created or addressed as anti-volatility crypto or avoid volatility. If someone is a trader who likes high volatility, chances are they will not choose stable coin as their trading tool. I have never bought it until now.

Use of stable coin is like dollars, you have exact value although it moves but it's just lessening into few cents which is still good to save the value of your portfolio into fiat which you can convert easily again if you want to take back into bitcoin, etc.

Stable coins are great to wait until the market wills stabilise. If the market is falling and you want to cash out your money, but want to stay on your exchange, you are exchanging your money into stable coins without any need to withdrawal cash.

We already know that stability in the crypto coins is not much founded so far but you can see the less potent coins are stable and you can have great time with it if you are an investor with less assets or capital. Don’t be so hurry in investing in Bitcoin and other good precious coins, invest in less potent ones and slowly upgrade with its experience. Ethereum is a good option if you want to make profit here.

I agree completely, we have to find an undervalued coin and ETH should be in the top of the line.
ETH at below $500 is pretty cheap, so we should not hesitate buying it at that price as it has achieved a great price already and as ETH is bound to succeed, price will eventually rise and break its ATH.

The Facebook coin is still a rumor and I am still waiting for Facebook to directly clarify the air on their intention to launch this coin in future officially, but if the rumor is true, their coin will also be more like a stable coin, which I believe will be a centralized one, which will make people not to really accept it because of their belief that Facebook has zero confidentiality when it comes to client’s data.

Tether to me is still the best stable coin I have seen around for now, but they still have their own issue too, I learnt that they illegally do print coin that they don’t have the value in the bank, which is making them to resist being audited.

Stable coins are categorically digital fiat. Its a helps in management of funds in times of high cryptocurrency volatility. When you are not sure of your coins movements as regards to dips or rise, its advisable to convert to stable coins to retain value or worrh

I don't understand why there's so much fuss about their coin. It's not the fact that it will be released but so many people say is just ridiculous.

Stablecoins are cryptocurrencies designed to minimize the volatility of the price of the stablecoin, relative to some "stable" asset or basket of assets.

In my opinion, stablecoin can be pegged to a currency, or to exchange traded commodities such as precious metals or industrial metals.