Do you think that STABLECOINS are needed in the future of crypto payments?

[CP_Processor]

Comprehensive overview of Stablecoins — Part 5
Conclusion

Read the fifth and final part of the Overview! https://medium.com/@CP_Processor/comprehensive-overview-of-stablecoins-part-5-190024698bd8

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[CP_Processor]

Which STABLECOIN or Stablecoin project is your favourite and why?

We have compiled a list of 12 STABLECOINS and Stablecoin projects for you to choose:

1. Tether
2. MakerDAO
3. Havven
4. CP Processor
5. DigixDao
6. Globcoin
7. Minexcoin
8. TrueUSD
9. Fragments
10. Bitshares
11. Basiscoin
12. Aurora

LEAVE YOUR COMMENT, OR GO TO OUR TWITTER POLL - https://twitter.com/CP_Processor/status/1006463148176658435 AND VOTE!

[ArkiCrypto]

First there's no such thing as Stable Coins, as you can see in the market there's no such thing as stable even the Bitcoin itself didn't  maintain its price because it's the market/people are making the price of it.

Well in the image below you will see the volatility of Bitcoin in the past years until now, that's how the market works there's no such thing as stable.

[CP_Processor]

First there's no such thing as Stable Coins, as you can see in the market there's no such thing as stable even the Bitcoin itself didn't  maintain its price because it's the market/people are making the price of it.

Well in the image below you will see the volatility of Bitcoin in the past years until now, that's how the market works there's no such thing as stable.

The price of most cryptocurrencies is determined by the marketplace, where buyers and sellers exchange coins and a price is discovered by supply and demand. In contrast, stablecoins seek to achieve a fixed price, which happens through a variety of means

One of the primary factors driving merchants away from accepting cryptocurrencies is the volatile price coupled with rising transaction fees. This has caused several mainstream companies to drop bitcoin as a form of payment. In comparison, stablecoins can potentially serve as the backbone of financial applications on the blockchain, especially considering that some of them are compatible with smart contracts…

[mboot]

Stable coins are needed for the correct token sale on the ICO. If the price of the new token depend on ETH there is a possibility that its price will  change so much by the end of the ICO.

[CP_Processor]

Stable coins are needed for the correct token sale on the ICO. If the price of the new token depend on ETH there is a possibility that its price will  change so much by the end of the ICO.

Yes, that is an interesting point. Stablecoins could be used for that as well

[zeze18]

Do you think that STABLECOINS are needed in the future of crypto payments?

If you have an opinion on this subject, leave a comment, or follow this link and cast your vote https://twitter.com/CP_Processor/status/993797972860301312

There are already exist a stable coin called USD Tether.
The price is following the USD, but this coin is just for payment just like fiat, not for investment like other coins.
many people in crypto is aiming for investing, not for payment.

[Jpti]

As we have concluded that cryptocurrency are not just for daily transactions or payments, so we need to categorize them.
Current leaders of market are useless in daily payments and it's felt that we need some stable coins, something pegged to fiat like Tether to go on with daily payments.
For example a cent coin, 1 coin = 1 cent (USD) with a flat fees of 1 cent per transaction would make things easier.

[charlotte04]

Do you think that STABLECOINS are needed in the future of crypto payments?

If you have an opinion on this subject, leave a comment, or follow this link and cast your vote https://twitter.com/CP_Processor/status/993797972860301312

Yep, we need a coin to be at a stable price so that we can use it as a payment method. USDT is kinda stable but it really follows the dollar.

[senne]

Stable coins are needed for the correct token sale on the ICO. If the price of the new token depend on ETH there is a possibility that its price will  change so much by the end of the ICO.

Yes, that is an interesting point. Stablecoins could be used for that as well

But here we are taking about for general payment related system using crypto currency, in such instance I don't feel like the need of any stable coins as crypto payments generally uses a conversion rate on sites which helps to convert the required money in crypto currency. For example, if you wan to buy something for 10 USD you will pay more or less Bitcoin depending upon the present value of Bitcoin at the time of billing.This way even the most volatile crypto can be used for making payments.

[CP_Processor]

Do you think that STABLECOINS are needed in the future of crypto payments?

If you have an opinion on this subject, leave a comment, or follow this link and cast your vote https://twitter.com/CP_Processor/status/993797972860301312

There are already exist a stable coin called USD Tether.
The price is following the USD, but this coin is just for payment just like fiat, not for investment like other coins.
many people in crypto is aiming for investing, not for payment.

We know that Tether exist, but we are hoping that some other stablecoin project will take the lead, because so much controversy surrounds Tether and it is giving stablecoins a bad name

[CP_Processor]

Which STABLECOIN or Stablecoin project is your favourite and why?

We have compiled a list of 12 STABLECOINS and Stablecoin projects for you to choose:

1. Tether
2. MakerDAO
3. Havven
4. CP Processor
5. DigixDao
6. Globcoin
7. Minexcoin
8. TrueUSD
9. Fragments
10. Bitshares
11. Basiscoin
12. Aurora

LEAVE YOUR COMMENT, OR GO TO OUR TWITTER POLL - https://twitter.com/CP_Processor/status/1006463148176658435 AND VOTE!

Only one day left for you to vote for your favourite stablecoin project!

[Joemzz31]

I think yes, stablecoins are needed in the future of cryptocurrency in payments because they are the one that can use regarding this
because this is the only coins that available and safe because they are stable.

[$Darkloard$]

Stable coins are not only tokens provided by national currencies and precious metals. The search for a stable crypto currency, which will minimize the costs and risks of storing its security, led to the creation of much more original applicants for the role of money: BitAssets, Labor-Hour Tokens and dai.

[Shenzou]

I mean it is not what we think its what the market needs, because why would anyone would spend their bitcoin for example like to buy a 10$ worth of bitcoin item that they know that tomorrow its is going to be 5$ worth of bitcoin, having an unstable coin used for trades is not something that is not good for neither the merchant or the customer, if we really want for the cryptocurrency to go further and be used as payment method we need to have some kind of stable coin.

[CP_Processor]

Here is an example how CP Processors Stablecoin would work:

Example - Dollar Token (DoTo) Stablecoin

100 dollars = 100 DoTo (Always)
1ETH = 500 DoTo* (current exchange rate ETH/USD)
1cPROtoken* = 1 DoTo* (current exchange rate cPRO/USD)

*cPRO token is a Utility token for CP’s Payment Processor

What is DoTo Stablecoin used for?

You can exchange your volatile cryptocurrency to a stable one (DoTo) and maintain your assets and/or make digital payments.

Cryptocurrencies = volatile price
Stablecoin = always stable price (1 dollar = 1DoTo)

How we maintain DoTo’s price stability?

Our formula is simple as this:

STABLE COIN (DoTo) = ETH & ERC20 TOKENS DEBT COLLATERAL +
ETH & ERC20 TOKENS CONVERSION + SUPPLY-DEMAND ADJUSTMENT BY SUPPLEMENTS

Technical explanation:

STABLE TOKENS SYSTEM WITH PERSONAL LOAN & CONVERSION
ERC20 tokens minted with smart contract functions on public Ethereum network,
Guaranteed by personal ETH & ERC20 tokens change (collateral + conversion) on smart contract custodian on Ethereum network.

Users can send when they want and how much they want ETH to personal conversion smart contract to change them for minted Stable Tokens ST.

Convertibility can be a personal conversion on the smart contract ETH to ST and ST to ETH

A user can do buyback of all ETH on personal conversion smart contract by the same peer if he sends Stable Tokens ST to burn them on the smart contract and no one else can buyback his ETH.

High external reserve at the margin can be ST=ETH+derivative1+derivative2...derivativeN on the smart contract.

[ApocalypseNow]

Definitely, yes. Any market or business would close down completely because of losses whenever the value of any crypto they have accepted have became less and less and value. And having a budget is very essential to a family so that's why crypto payments needs to be stable.

[daviost]

The answer is definetely yes.

Because it for safety reason when market is not good and we can use it as a payment method.

[CP_Processor]

Here, you will find everything about the current state of all Stablecoin projects!
https://medium.com/cp-processor/comprehensive-overview-of-stablecoins-819d183f6ac7

[Lannie25]

Yes, the cryptocurrecy which can be used in future payments is really great because it will make the cryptocurrency group more wider range in terms of services that they provide in the public market.