DO WE REALLY NEED MORE STABLE COINS?

[sarmrakib]

Some friends of mine always lament  that 'we  need more stable coins in the cryptosphere' and I think that is highly achievable looking at the promising prospects that has been achieved by tether. It seems some upcoming projects are also promising to introduce stable coins. Is it possible to have more stable coins on the crypto market? What would really happen if we get more stable coins on the crypto market, would the volatility reduce?

we can see lots of stable coin in the future .we have many stable coin on the market i thinks those coin are good to trade .

why do we need more stable coin?.

May be he needs more stable coin to increase his strategy and something new to show his friend concern .

most of the investor invest because of it.

Yes its a good point .Most of the trader trade on crypto platform as it is high volatile and easy to make profit .So i think there will be nothing need to reduce the volatility.

[1714990714]

1714990714

[miklesm]

I think we do need stablecoins as they make it easier the process to swap cryptocurrency to fiat equiwalent, but it is enough to have one stablecoin if it is 100% backed by USD and regulated by the govenment.

[Runbitup]

I think we do need stablecoins as they make it easier the process to swap cryptocurrency to fiat equiwalent, but it is enough to have one stablecoin if it is 100% backed by USD and regulated by the govenment.

In my opinion, there is no need for too many stable coins in the market because it can delay market development because people will use stable coins more often because they are safer and transactions will definitely decrease.
so I think it's quite 3 stable coins on the market.

[guoyu78]

No need more stable coins because theres a lot of stable coin in the market all we need is a good project that can run for long term. But personally if we add more stable coin some  investor can go on to cryptoworld because it have a chances tobe stable.

But, with stable coins in the market, cryptocurrency will be able to achieve the main purpose of which it was created, stables coins will make the market less volatile and people will start using crypto currency for other things it meant to be used for like payment and so on, it will also make cryptocurrency to be qualified for store of value.

Many people will be confident in holding it as digital asset they can rely on for storing for future and as saving. Many of us against stable coins now is because of what we are benefiting from the volatile market and probably because we see it as investment alone.

[Kiweikoo]

I personally don't think we need more stable coin for now in the market because the truth is that all of them has one purpose which is to look like fiat but yet still be a cryptocurrency that don't need KYC in order for one to make use of it, I think only one stable coin is very much okay for the market though as we all know that the crypto market is a free market and everyone has the power to come up with any kind of project they want without being questioned since the blockchain is owned by no individual or government.

[pixie85]

for now the community does not need stable coins. the reason is because the market still needs growth to be coins that have volatility preferred. stable coins it's hard to make a profit.

We do need stablecoins and their popularity proves it. They are being used every day by thousands of people. The problem with them is that we can't trust some of them and if one shows that it's vulnerable or shady people would have something to turn to.

USDT is still very popular even after they admitted to not having all the money to back up their coins. Who knows how much they are making out of nothing.

[Golstrim]

Yes, we do need more stable coins and from my point of view there is a reason to create euro coin as long as a lot of people use this kind of currency.

[CryptoKush]

I think that stablecoins are useful and improve the interaction of cryptocurrencies with fiat currency. By this, I think that in the future there will be a lot of new stablecoins/

[Indrawan77]

I think we got enough stable coin, tether already really useful, we do need some but we don't need a lot, volatility is the part of crypto, investors and traders like crypto because the price fluctuate a lot, so they can make profit and when the market situation is not supportive they can put the money into tether to avoid huge lost

[crenfrosck]

It depends on your definiton of a "stablecoin." It can be backed by fiat, other currencies or precious metals. However, a "stablecoin" is a myth. Nothing is stable in comparison with other commodities or assets as the free market decides what is more valuable at the current point. We can look back in the past when silver was a payment unit: its price decreased unbelievable even though it can not be created from a thin air: supply is limited and price fell down. Demand is to blame for this. In conclusion, I do not want to look like I am against them: in fact, I am in for as many of them as customers will demand. Freedom of choice is the best answer in a fast-changing environment of a modern world  .

[VanDeinsberg12]

It depends on your definiton of a "stablecoin." It can be backed by fiat, other currencies or precious metals. However, a "stablecoin" is a myth. Nothing is stable in comparison with other commodities or assets as the free market decides what is more valuable at the current point. We can look back in the past when silver was a payment unit: its price decreased unbelievable even though it can not be created from a thin air: supply is limited and price fell down. Demand is to blame for this. In conclusion, I do not want to look like I am against them: in fact, I am in for as many of them as customers will demand. Freedom of choice is the best answer in a fast-changing environment of a modern world  .

Well it is true that stablecoin itself actually is not stable but atleast it has fixed value to the commodities or real currency so that the volatility is not too much. That alone already helps alot of people saving their wealth rather than having the uncertainty of the market fluctiation.
it is always better than nothing right? the existence of stablecoin itself actually doesnt hurt the overall cryptocurrency market.

[daniel2023]

Competition bring the best in the market. When you know that someone want to overtake you; you will sit up. Mores stable coins will be a welcome development.

[kevinex]

Competition bring the best in the market. When you know that someone want to overtake you; you will sit up. Mores stable coins will be a welcome development.

I'm not sure there will be a stable coin. the crypto market may be very fast moving, compared to other investment markets. if you want to invest in a stable asset, maybe gold is the best choice for those of you who don't like risk.

[jakelyson]

Some friends of mine always lament  that 'we  need more stable coins in the cryptosphere' and I think that is highly achievable looking at the promising prospects that has been achieved by tether. It seems some upcoming projects are also promising to introduce stable coins. Is it possible to have more stable coins on the crypto market? What would really happen if we get more stable coins on the crypto market, would the volatility reduce?

I am sure we do. It will invite people to trust cryptocurrency if they see that there are a number of coins that is stable and not fluctuating all the time. It can also mean that those coins have real value because of their technology and more people are trusting them. It is just like mob mentality, they see a lot of people trusting crypto so more will be attracted to trust it. This will further stabilize the market for crypto.

[yakushev]

We certainly need stable coins, high-quality, fast, with a strong team, but in a large number of such projects, I do not see much sense, 5-10 pieces would be enough in full

[Litzki1990]

If we want the cryptocurrency being more popular in crypto industry we do not need stable coins it is because the traders and investors they will not getting any profit from stable coins, we need the market volatility so that we can buy cheap and sell high.

[10BTCaDay]

If we want the cryptocurrency being more popular in crypto industry we do not need stable coins it is because the traders and investors they will not getting any profit from stable coins, we need the market volatility so that we can buy cheap and sell high.

sounds like a cryptocurrency trader's dream. And so it sounds very easy, but in fact it is not easy

[UniversityCoin]

Some friends of mine always lament  that 'we  need more stable coins in the cryptosphere' and I think that is highly achievable looking at the promising prospects that has been achieved by tether. It seems some upcoming projects are also promising to introduce stable coins. Is it possible to have more stable coins on the crypto market? What would really happen if we get more stable coins on the crypto market, would the volatility reduce?

Not. We do not need stable coins, because they all turn out to be not stable, but some kind of shit. They cost exactly a dollar so long as you don’t need it, and as soon as you buy them in order to save your money, they immediately begin to fall in price. I already got into this situation, so I do not believe them.

[kkaroul4]

if the coin is stable I don't think but what I need is a stable market because if the coin is stable it will make it difficult for us to get the price of a coin at a low price and also difficult we get a big profit if the coin is always stable

[puremage111]

I think the purpose of stable coin is mainly for hedging purpose
Do we need more? No
But we do need a more transparent stable coin with great policies to protect investors

Is USDT good? imo no, from most of the news i read, seems like their coin is not backed by enough of real USD
One of the good stablecoin i seen recently shall be TrueUSD
It seems to offer more transparency