Stable Coins Necessary?

[Svarora]

Stable coin is the need of hour. Crypto market can attract investor now only by providing stability. The onus is on crypto manager to proove the utility of crypto industry to the international govt and to common people also. They should promote self financed funds and allow investor to come at later sragen only when coin showing stability and that too at optimum price 

[raven7886]

But do you think it's really necessary to have so many stable coins?

It is a free and open-source based world hence you cannot blame to have many or repeated things. It happens and we alone need to be careful on choosing the right one and securing ourselves. I am not having any problem to have so many stablecoins and they are all more useful for traders to move fiat value across exchanges. There are one or few real world application then obviously such coins will come in more numbers and their future and survival are subject to its utility and promotions.

[jack107]

I think the competition of cryptocurrencies is really good but I don't know if we need all of these stablecoins. Have you ever looked into Ampleforth? Their elastic supply protocol promises a stable unit of account so they aren't technically a stable coin. It looks like they have a pretty badass team too

[harrypotpot]

Currently seems every project or crypto company wanna create a stable coin now, except USDT, currently we have GUSD, TUSD, PAX.

But do you think it's really necessary to have so many stable coins?

Yes really! they area actually my savior in times of market falling. When the market falls basically I just trade it on stable coins which I find good in order to cut loses in the market. then sell and buy again btc for profits.

[PlusOne88]

Today as I could read most of the post, I think everybody have their eyes set on cryptocurrency. Though the market is a bit low but there are indications of a possible sudden increase given the recent inventions or plans of big companies who wanted to set their own digital coins. If this speculations could become true those who have bought coins while it was very low in price will earn a lot in the future. I think everybody who is into this business wanted to make their own cryptocurrency as stable as it gets to make it a better storage for money and most of all a preparation for the idea as I have said could be their main concern as of now.

[itasannah]

The market is stable, I think it will be difficult. We can see that there are many types of coins and they must work hard to increase price growth. Now the competition between coins is getting tougher and many coins are zero. They lose investors because the developer is no longer active.

[louisBSAS]

We saw how stable these coins were when USDT was dropped in price at the end of 2018. A stable coin is a dollar. If you want to change cripto coins for something stable, then it is better to exchange them for dollars.

[chanc3r]

Currently seems every project or crypto company wanna create a stable coin now, except USDT, currently we have GUSD, TUSD, PAX.

But do you think it's really necessary to have so many stable coins?

Yes really! they area actually my savior in times of market falling. When the market falls basically I just trade it on stable coins which I find good in order to cut loses in the market. then sell and buy again btc for profits.

Lol saviour my ass. Those stablecoin cant even help to hold he price when market falling. It is just like when people are cashing out to their bank. so i cant see what make it more different than ordinarily withdraw your money.

[Emilyp]

Sincerely, I'm yet to understand the need for stable coins. I prefer to liquidate my assets in fiat if and when I want to, and to me it's far better that way than exchanging coins for stable coin.

[concitta]

Stable coins will benefit the exchanges. If an exchange has a well respected stable coin, then that exchange is likely to draw more customers, and in turn generate more income from trading fees. The profit doesn’t come from the stable coin itself but from generating greater transaction volume and trading fees.

and stable coins in my opinion are very influential because if the coin is stable then the coin can move well to produce and coin not benefit from unstable coins.
most people choose stable coins to trade, invest, or survive on their own, because they are clearly stable and have good potential.

[Lumberjack1935]

In my opinion it's the same thing that you are buying fiat or participating in Forex! This stability is misleading because at the cost of this fixed price an inflation and printing of these papers at all time! Tether is basically endless and other stablecoin too! If you are not a trader, it does not make sense to buy or have deals with it.

[Wipangga]

I think with a lot of stable coins for me, it can also help many investors to get better profits, because stable coins are also a profitable investment in the short and long term.

[CryptoKush]

In my opinion it's the same thing that you are buying fiat or participating in Forex! This stability is misleading because at the cost of this fixed price an inflation and printing of these papers at all time! Tether is basically endless and other stablecoin too! If you are not a trader, it does not make sense to buy or have deals with it.

I do not agree with you. I think that stablecoins are well suited for profit taking and are very important for traders. It is important that steamers pass the audit and are really provided with dollars in a bank account.

[Jordens]

Currently seems every project or crypto company wanna create a stable coin now, except USDT, currently we have GUSD, TUSD, PAX.

But do you think it's really necessary to have so many stable coins?

Yes really! they area actually my savior in times of market falling. When the market falls basically I just trade it on stable coins which I find good in order to cut loses in the market. then sell and buy again btc for profits.

Lol saviour my ass. Those stablecoin cant even help to hold he price when market falling. It is just like when people are cashing out to their bank. so i cant see what make it more different than ordinarily withdraw your money.

Need coins that even in a strong bear market will be stable and will not fall in price, of course such coins may not be very interesting in the bull market, but ordinary people will like them, because so you can store your money

[STASISNET]

In my opinion it's the same thing that you are buying fiat or participating in Forex! This stability is misleading because at the cost of this fixed price an inflation and printing of these papers at all time! Tether is basically endless and other stablecoin too! If you are not a trader, it does not make sense to buy or have deals with it.

I do not agree with you. I think that stablecoins are well suited for profit taking and are very important for traders. It is important that steamers pass the audit and are really provided with dollars in a bank account.

Or euro for EURS. That's why we at STASIS focus on transparency by providing 4 streams of reserves verification: https://stasis.net/transparency/

[singlecrytpo]

I think we need a solid stable unit of account but we haven't been able to find that by pegging it to fiat or crypto. I would maybe look into Ampleforth because of their elastic supply policy which helps with inflation and deflation.

[LbtalkL]

Yes of course but for me there are so much stablecoins that exist looks like there are just making money. But as long as it is back by something why not. If banks will use a stablecoin as utility token it is really good you dont have to worry of downfall thats why some traders convert their profit on Stablecoins and preserve its value.

[Moiyah]

Currently seems every project or crypto company wanna create a stable coin now, except USDT, currently we have GUSD, TUSD, PAX.

But do you think it's really necessary to have so many stable coins?

I used TUSD whenever the market is really unpredictable. It works and help my fund at least be safe for a while. It is really necessary especially when you are aware that the market will eventually fall and you have to save your coins. I must say that it is very useful for a trader like me who wish to stay calm when their price fall.

[TelolettOm]

Currently seems every project or crypto company wanna create a stable coin now, except USDT, currently we have GUSD, TUSD, PAX.

But do you think it's really necessary to have so many stable coins?

I used TUSD whenever the market is really unpredictable. It works and help my fund at least be safe for a while. It is really necessary especially when you are aware that the market will eventually fall and you have to save your coins. I must say that it is very useful for a trader like me who wish to stay calm when their price fall.

Well coin USDT It's good enough for us to save when bitcoin is decreasing we don't need to look for exchange with a pair of currencies because usdt has been very stable as a coin

[X-ray]

Currently seems every project or crypto company wanna create a stable coin now, except USDT, currently we have GUSD, TUSD, PAX.

But do you think it's really necessary to have so many stable coins?

I used TUSD whenever the market is really unpredictable. It works and help my fund at least be safe for a while. It is really necessary especially when you are aware that the market will eventually fall and you have to save your coins. I must say that it is very useful for a trader like me who wish to stay calm when their price fall.

Well coin USDT It's good enough for us to save when bitcoin is decreasing we don't need to look for exchange with a pair of currencies because usdt has been very stable as a coin

He was talking about do we need many kinds of altcoin in these days. So many small or even big companies just like JPmorgan are interested to create their own altcoin. This will be a problem in the future and he was asking about the potential of the problem caused by this.