Bitcoin - the future "stable coin"

[disappear4ever]

In the past two months, bitcoin's fluctuation very small except for 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth, at the same time, many investors dumped their USDT & bought bitcoin instead - hence in fact, bitcoin took the responsibility of acting as a stablecoin, which is very interesting.

Why did they change to pursue bitcoin in such a panic situation? Which kind of true value bitcoin can bring to them? Will bitcoin turn into a real stablecoin in the future? Is it possible for bitcoin to be a popular tool in the payment industry? .....


PS:

1) I am not talking about NOW, it is for long-term consideration (maybe 10-20 years). In this period, bitcoin still keep going up & getting very valuable;
2) My assumption based on the mass adoption of bitcoin in global payment sector, together with the development of blockchain & bitcoin itself;
3) "Stable coin" does not mean bitcoin's price is fixed or pegged with fiat currency, it is more like an independent currency beyond any national digital currency which will be the main stream in next 10 years because it is evitable that big economy will issue their own digital currency in the coming future.

[pooya87]

~ 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth,

there was no bitcoin price increase! you were mistakenly looking at Tether/Btc and thought that is bitcoin price. instead you should have checked USD/bitcoin to see the price did not change.

at the same time, many investors dumped their USDT & bought bitcoin instead - hence in fact, bitcoin took the responsibility of acting as a stablecoin, which is very interesting.

that is not what happened and that is not what a stablecoin means!
a stable coin is a term that is used for coins that are pegged to another currency so that they are always having the same value as that other currency. for instance Tether (USDT) is supposed to be pegged with USD and 1 USDT should be equal to 1 USD.
there are other stable coins that are pegged to gold, other fiat,...

[QuestionAuthority]

In the past two months, bitcoin's fluctuation very small except for 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth, at the same time, many investors dumped their USDT & bought bitcoin instead - hence in fact, bitcoin took the responsibility of acting as a stablecoin, which is very interesting.

Why did they change to pursue bitcoin in such a panic situation? Which kind of true value bitcoin can bring to them? Will bitcoin turn into a real stablecoin in the future? Is it possible for bitcoin to be a popular tool in the payment industry? .....

Exactly what is making BTC so stable right now?

“Why did they change to pursue bitcoin in such a panic situation? Which kind of true value bitcoin can bring to them? Will bitcoin turn into a real stablecoin in the future? Is it possible for bitcoin to be a popular tool in the payment industry? ..... ”

They fell back to bitcoin in a panic because bitcoin is propped up by investors that have a lot to lose if it fails.

Bitcoin doesn’t bring value to them. There’s safety in numbers, i.e., if I lose a little then you lose millions.

Bitcoin was on the way to becoming a popular tool for the payment industry thanks to Tony Gallippi and crew at BitPay. The problem is when major businesses started accepting bitcoin no one was using it for purchases because everyone feels they have to hodl. That result forced the major businesses to stop accepting bitcoin.

[disappear4ever]

~ 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth,

there was no bitcoin price increase! you were mistakenly looking at Tether/Btc and thought that is bitcoin price. instead you should have checked USD/bitcoin to see the price did not change.

Yes, you are right. I forgot to mention that I am talking about BTC/USDT pair, when USDT dropped dramatically in comparing with USD, bitcoin's reaction is quick & its value stands firm. That is what I mean - when the stable coin getting unstable, bitcoin getting more stable, why this happening?

at the same time, many investors dumped their USDT & bought bitcoin instead - hence in fact, bitcoin took the responsibility of acting as a stablecoin, which is very interesting.

that is not what happened and that is not what a stablecoin means!
a stable coin is a term that is used for coins that are pegged to another currency so that they are always having the same value as that other currency. for instance Tether (USDT) is supposed to be pegged with USD and 1 USDT should be equal to 1 USD.
there are other stable coins that are pegged to gold, other fiat,...

That is what happened that many people changed their USDT to Bitcoin & stable coin does not mean it must pegged with another currency.

Stable coin is a definition for one coin which can prevent people's asset from loss when something big or negative effect happens. I do not believe those coins like USDT will inherently be a stable coin, they were manipulated by a company, also it is not possible for any one company to support the world class stable coin volume.

From this perspective, I rather believe bitcoin will be a universally accepted stable coin in the world when it is getting acquainted by everyone on the earth.

[pooya87]

That is what I mean - when the stable coin getting unstable, bitcoin getting more stable, why this happening?

it is mostly a coincidence. bitcoin had a certain trend. look at 2013 till 2015 as a trend that is already over. the price shoot up to a bubble by the end of 2013 then the bubble burst and price came down. a bear market started and finally came to an end. in 2015 (end of bear market of that time) price became stable and that lasted a couple of months. Tether wasn't having troubles back then. it wasn't even that big.
same is now. it is the trend that bitcoin is on which made it stable. it is one of the stages! it has nothing to do with Tether.

Stable coin is a definition for one coin which can prevent people's asset from loss when something big or negative effect happens. I do not believe those coins like USDT will inherently be a stable coin, they were manipulated by a company, also it is not possible for any one company to support the world class stable coin volume.

From this perspective, I rather believe bitcoin will be a universally accepted stable coin in the world when it is getting acquainted by everyone on the earth.

that is not a wrong definition. but as i said price being stable doesn't make it a "stable-coin" because that term is usually used for certain coins like Tether which are pegged.

[MainIbem]

If the volatility remains this way, it will be for the good of bitcoin and cryptocurrency. It will be more attractive to more people, especially institutions. It will assure the future of bitcoin. Yes. It will be the future secure currency.

[Dexion]

forever, bitcoin will never be a stable currency.
1. Bitcoin is not backed up by anything.
2. Bitcoin is decentralized
3. Bitcoin is anonymous
4. Bitcoin is not a national digital currency.
bitcoin is not the same as XRP, not the same as USDT. and bitcoin has a different projection from other crypto. bitcoin is special.

[eann014]

Hahaha, Maybe that's true because as of now, bitcoin is still around $6k to $6.5k, and nothing change until now maybe its been 2-3months from now since we have a stable amount of bitcoin.

[richan]

A stable coin is a coin that do not fluctuate up and down regardless of the market condition. Bitcoin been bought as a results of investors selling their Tether does not make bitcoin a stable coin. Bitcoin isn't pegged to a particular fiat currency on 1:1 ratio hence cant be  a stable coin.

[DJ_Rick]

I think that btc has great chances to win on the market and remain the leader for long. In my opinion, it will be great if to invest in btc now and then sell it later when the price increases twice

[LeGaulois]

In the past two months, bitcoin's fluctuation very small except for 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth, at the same time, many investors dumped their USDT & bought bitcoin instead - hence in fact, bitcoin took the responsibility of acting as a stablecoin, which is very interesting.

Why did they change to pursue bitcoin in such a panic situation? Which kind of true value bitcoin can bring to them? Will bitcoin turn into a real stablecoin in the future? Is it possible for bitcoin to be a popular tool in the payment industry? .....

No way Bitcoin as a role of a stable coin and it will never happen unless some took over the BTC control. A currency can't be considered stable (coin) of behind the scene it's backed by a fiat currency. So your analysis is wrong already. Also it's the whole crypto market that is currently in a "stablemarket".

[Agilth@mail.ru]

In my opinion it can become a stable coin among private persons or companies, when it comes to dealing with government.. I doubt that government will ever except it.

[disappear4ever]

That is what I mean - when the stable coin getting unstable, bitcoin getting more stable, why this happening?

it is mostly a coincidence. bitcoin had a certain trend. look at 2013 till 2015 as a trend that is already over. the price shoot up to a bubble by the end of 2013 then the bubble burst and price came down. a bear market started and finally came to an end. in 2015 (end of bear market of that time) price became stable and that lasted a couple of months. Tether wasn't having troubles back then. it wasn't even that big.
same is now. it is the trend that bitcoin is on which made it stable. it is one of the stages! it has nothing to do with Tether.

It is a coincidence, but why most of people who cash out their USDT to bitcoin, I do not think the coincidence can explain it.

I did not mean bitcoin is a stable coin for now, but it started to show to us there is a potential to be a stable coin and it is not important at all that we read from the past record as it is still in an early stage and only recognized by people in cryptocurrecy sector. Their fluctuation in the past leads to the birth of USDT。

You think Tether has no trouble, but I guess the root of it is not solid enough to last for another 10 years, it is only because they have first mover advantage & their market share over 92% and its competitors still too small, none of them can replace it in a very short time.

Also I guess main economy bodies are planning their own digital currency backed by national credit, like USA & China, which will be the mainstream in a long time, but they are still national & under regulations (maybe USA digital currency will be global, but still under regulations), then there is one opportunity coming for bitcoin.

Not sure if you already know that VISA's new credit card can be used for bitcoin payment, that is a good start & smart companies are embracing bitcoin to help them as one powerful tool to defeat their enemies with the popular use of bitcoin in our daily life.

Stable coin is a definition for one coin which can prevent people's asset from loss when something big or negative effect happens. I do not believe those coins like USDT will inherently be a stable coin, they were manipulated by a company, also it is not possible for any one company to support the world class stable coin volume.

From this perspective, I rather believe bitcoin will be a universally accepted stable coin in the world when it is getting acquainted by everyone on the earth.

that is not a wrong definition. but as i said price being stable doesn't make it a "stable-coin" because that term is usually used for certain coins like Tether which are pegged.

Tether is arranged to be a so-called stable coin, but we all saw it is not so stable - more than $1 billion cash out to USD in last month and $2 billion worth is not enough at all together with the development of blockchain, also it is not a transparent business and people will give up it when they have a better option.

[PsylockReborn]

Is it possible for bitcoin to be a popular tool in the payment industry?  

Even if bitcoin's value isn't stable yet, bitcoin is already popular when it comes to mode of payments.
There are some people who really used bitcoin as a currency not just as an investment vehicle.
When we talk about the fluctuations of bitcoin's value, its not really certain that people dumped
their alt coins that's why bitcoin's value increased. The fluctuations are unpredictable and please
don't believe on people claiming to be experts in predicting crypto values and reading the trend of
the crypto market's performance for no one can predict the future.

[disappear4ever]

In the past two months, bitcoin's fluctuation very small except for 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth, at the same time, many investors dumped their USDT & bought bitcoin instead - hence in fact, bitcoin took the responsibility of acting as a stablecoin, which is very interesting.

Why did they change to pursue bitcoin in such a panic situation? Which kind of true value bitcoin can bring to them? Will bitcoin turn into a real stablecoin in the future? Is it possible for bitcoin to be a popular tool in the payment industry? .....

BTC is hard to become a stable currency. currently it is being manipulated and make price by so many rich man .
Although BTC  is listed on the stock market and is limited to one day fluctuations of 20% but to Saturday and Sunday when the stock markets closed, inflation occurred again. And Saturday and Sunday are the days when it's most unsettling.

BTC listed on stock market? I do not understand it. Regarding manipulation, I think it will get more and more difficult when bitcoin market cap growing to be big enough and mass adoption in our daily life, then it will reach it is dynamic balancing & meet people's expection.

[disappear4ever]

If the volatility remains this way, it will be for the good of bitcoin and cryptocurrency. It will be more attractive to more people, especially institutions. It will assure the future of bitcoin. Yes. It will be the future secure currency.

No worry, STO is going to bring institutional investors to cryptocurrency world, and the most important thing is it can be used in our real & daily life, as mentioned above that VISA is embracing for bitcoin.

[disappear4ever]

forever, bitcoin will never be a stable currency.
1. Bitcoin is not backed up by anything.
2. Bitcoin is decentralized
3. Bitcoin is anonymous
4. Bitcoin is not a national digital currency.
bitcoin is not the same as XRP, not the same as USDT. and bitcoin has a different projection from other crypto. bitcoin is special.

1. Bitcoin is not backed up by anything. A stable coin must be backed by something? USDT backed by USD, USD backed by US national credit, so I think those stable coin are fake one as they have no roots.
2. Bitcoin is decentralized  Is it not an advantage for bitcoin?
3. Bitcoin is anonymous  I guess with the development of blockchain & bitcoin getting popular, KYC/AML will get popular as well.
4. Bitcoin is not a national digital currency. No worry, there will be national digital currency, the governments are planning for it.

[disappear4ever]

A stable coin is a coin that do not fluctuate up and down regardless of the market condition. Bitcoin been bought as a results of investors selling their Tether does not make bitcoin a stable coin. Bitcoin isn't pegged to a particular fiat currency on 1:1 ratio hence cant be  a stable coin.

Why a stable coin must pegged to a fiat currency to be a stable coin?  neither gold nor USD. I think only the unique one trusted by most of the people have this opportunity.

[Sandus_Cryptolover]

If the volatility remains this way, it will be for the good of bitcoin and cryptocurrency. It will be more attractive to more people, especially institutions. It will assure the future of bitcoin. Yes. It will be the future secure currency.

My thoughts exactly. I feel with stable volatility, more people will have confident in investing in Bitcoin and cryptocurrencies as a whole. The stable volatility will serve as an assurance that their capital won't lost suddenly.

[worldofcoins]

 I think bitcoin has the potential to grow and therefore act as a main industry payment but all of this is logged back by these regulations and unless these are addressed in my opinion we won't see any BTC explosions.