Bitcoin Forum

Stablecoins bring the best of both worlds by combining the stability of Fiat and the versatility of crypto. Ever since the first stablecoin came into inception (Tether), other stablecoins emerged with the aim of taking the world by storm. We now have a wide variety of stablecoins to choose from each with their limitations and unique features. Depending on the blockchain network in question, a stablecoin can be much cheaper to use than traditional credit/debit cards for online purchases. Imagine if online retailers began accepting popular stablecoins like Tether (USDT) and USD Coin (USDC). There might be no need for credit/debit cards other than using them to pay at physical stores.

Do you think stablecoins will replace credit/debit cards in the future? If not, why? What could be the reason online merchants are avoiding stablecoins in the first place? Your input will be greatly appreciated. Thanks in advance. :)

Its inevitable for Crypto to replace fiat completely. But still 10-20 years imo

Doubt it will happen. Basically, a stable coin is created as a solution to the problem of volatility in the market. The traders were in demand to use the stable coin to get a stable income from their trade.
The stable coin has no different from the fiat money and it's quite different from the credit and debit card. The stable coin will be the potential to be used as a way to your pay your credit or funding your debit and this is it.

probably right but lets be honest, no one knows whats coming

It could be an alternative but I dont think it could totally replace the debit credit system. It will take a while before the mass community adopt this blockchain thing. Yrs blockchain is good but its not centralized and people are too scared to be bound by not regulated system where their fund can be compromised. If you loss fund on a bank and you have valid reason to claim it they will return yours.  But if you loss fund on decentralized, then its gone for good.

As long as a stablecoin has to be "backed" by fiat or some physical asset, then no.
Once we decouple from the old system, then possibly yes

It is better we start understanding that no monetary system will be replaced by cryptocurrencies or crypto system, this is because to a good extent a lot of them have the backing of the government and we know what that means. Stablecoins are cryptocurrencies which have a stable value and as such good to use against the volatility of this space, which is to say it will be limited to this space alone unless the team are ready to surrender their platforms to the government which I don't see happening.
Secondly, the crypto space has come a long way, it has developed in all ways and has become more Interesting and valuable than ever, that is to say, it has come to stay, thus since the world keeps Innovating, crypto and fiat will work together; moreover it's already happening as most payment systems like Visa are already looking into working with crypto. No debit or credit card will be replaced by stablecoins, that is my opinion.