StableCoins might increase crypto adoption by big companies ?

[apoorvlathey]

You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?

[livingfree]

You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.

This is one of the saddest moments for those gamers that also knew about bitcoin. This didn't stayed for a long time but if it was able to stay, most of steam users now can finally purchase almost every game with bitcoin or at least they know about the existence of bitcoin.

Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?

I don't think so.

If they will consider using stablecoins then why they just don't use the usual payment methods like PayPal?

[glendall]

of course it can happen steam and amazon can support payments using cryptocurrency, like nordvpn which already supports many payments such as eth, ltc ripple and also btc, unfortunately i don't see stablecoin there,
and Stablecoin may not be able to defeat bitcoin, people trust bitcoin more than stablecoin, but that is just an alternative, so in my opinion it is not beating bitcoin but completing it.

[shinratensei_]

What're the differences between using online service payment like paypal or another kind of service?I see no differences, you must know that people are wanna seeing native crypto like bitcoin to be accepted by an online store company to increase the adoption of bitcoin.
If they are using stable coin doesn't mean a lot for crypto. They will buy stable coin instead of bitcoin.

The volatility is not the main reason because when you are using the lightning network and that's enough to complete the exchange from bitcoin to the fiat balance in a short time.

To accept the stable coin will not increase the adoption for crypto.
It's about how to make bitcoin to be bought by more and more new adopters.

[finzyoj]

Stablecoins? But bitcoin belongs on the much stable coins in the market, right? I mean, it is more stable than the newer alts because it already established a good foundation throughout the years. If Steam refused to support bitcoin, then who is more deserving to be chosen? Honestly, I can't think of another coin right now.

[Samboo]

I do not think any stablecoin would replace bitcoin anyway. Bitcoin has made its impact in the entire crypto space so much that people and any other business outlets are eager to use bitcoin even just for their publicity, apart from its usage like a method of payment. Some business hubs are allowing payments in bitcoin just for their publicity as people are taking interest in bitcoin.  

[zeze18]

You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?

I've bought a game currencies using bitcoins, but the transaction fee is out of my mind.
It takes like 5$ while i just buying 10$ worth in game currency. So i think crypto is not ready yet for game payment.
I'm not sure why it takes so much fees but it's not worth it to buy

[Beparanf]

Due to too much volatility of bitcoin, they can't accept yet the possibility loss or gain they can get thru this payment method, stablecoins can solve their problem if ever they will accept again since the value will no big difference in movement of price unlike in btc. However there are wallet apps that support electronic payment too that are applicable to buy games in different game outlets like steam, garena and etc , though you'll need to convert your crypto or btc into your currency first then pay in that wallet app to your steam wallet. I think that is much better since all transaction will be done in one wallet.

[Cakalasia]

Yes this have big impact in crypto like many will really adopt this by stable coins because many users,traders and investors want assurance like the price is not that volatile so some big companies will use this by that not like btc,alts and tokens that have volatile price so if you have this then you need to take the risk already still many want to invest so this is useful too like all cryptocurrency in crypto have different

and it will be difficult for them if they will transfer it directly to fiat -bank account the better way is to really use the stable coin as alternative.

[Youghoor]

The adoption of cryptocurrency has nothing to do with the value or market price of it.  Adoption can only take place when the entire world understand what cryptocurrency is, how it is different from physical fiats and the financial freedom it presents to anybody using it.  Knowledge and understanding are the only thing that can increase the adoption of cryptocurrency among the general public and companies.

[TheClownSong]

You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?

In my opinion, it's hard for stable coins to beat bitcoin in price. I welcome it if more and more big companies issue stable coins as long as the coins are backed up with large funds and properly audited. This will give traders the choice in choosing stable coins that are trusted and might make market conditions more attractive

[Insomnia family]

As far as I know, stable coins or other stable currencies only outperform in terms of prices such as (USD / dollar) the increase in this currency depends on the value of the stock. and if coins are stable like usdt, usdc only depends on increasing the value of the original currency (USD) and I don't think a stable currency can outperform bitcoin in all aspects.

[DaMut]

You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?

The main problem with Bitcoin and other cryptocurrencies are not only about volatility but legalization, risk, and authorization. And stablecoin does not solve this problem too, in stablecoin there is an authorization that could mint the money as much as they want, risking the company involved with it to get burned and a problem with security law that might force them to close their company. Until now we do not have a clear line in cryptocurrency legalization until then we are still far away from adoption.

[Free1bitco.in]

Due to too much volatility of bitcoin, they can't accept yet the possibility loss or gain they can get thru this payment method, stablecoins can solve their problem if ever they will accept again since the value will no big difference in movement of price unlike in btc. However there are wallet apps that support electronic payment too that are applicable to buy games in different game outlets like steam, garena and etc , though you'll need to convert your crypto or btc into your currency first then pay in that wallet app to your steam wallet. I think that is much better since all transaction will be done in one wallet.

Yaps, it could be that the stable use of coins will be accepted by large companies compared to bitcoin. we know that the fluctuation that occurs in bitcoin makes bitcoin itself quite difficult to accept in large companies. however, it is different from stable coins. some of the benefits that are probably best on stable coins are that they are easier to obtain, and may be integrated as cryptocurrency investments that have a large volatile price. unfortunately, in the use of cryptocurrency, I think people are more focused on bitcoin. but it is possible because, from all aspects, stable coins have met to be used as a means of payment.

[Kyraishi]

You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?

Yep, I'm not sure where I saw it, but there was an article that confirmed that that was the real issue of steam not accepting BTC was due to price changes and they didn't get a lot of volume from it anyway. You can use purse.io to spend cryptocurrencies on Amazon.

A centralised stablecoin would definelty see adoption, and it's the main reason why we are seeing goverments develop these sort of risk free cryptocurrencies where they'd have full control.

[GGmith]

until whenever stable coins will never be able to outperform bitcoin, even though the price of bitcoin is fluctuating, I think decentralized and non-decentralized coins differ from each other. so stable coins will only be used for payment systems by several large companies.

[crairezx20]

If they problem is unstable price when accepting payment why don't they use other services than bitpay where they can accept payment without the price fluctuates like coinpayments where you can set to auto convert or swap to any stable coins. Because mostly people use major coins like BTC if they push other people to use stable coin like USDT I'm sure they can only get less customer than BTC.

Here in my country this is not a problem when buying steam codes we have a local service here which accept crypto as payment like coins.ph if you are living in the Philippines you don't need to be worry on this. Im believe that there are the same services in other country like in India(zebpay).

[Aabcde]

I think it is impossible to outperform Bitcoin even though giant companies will use stablecoin for their payments. Bitcoin itself is a pioneer in the world of crypto. The originality is no doubt and the value of bitcoin itself can only be judged by the users themselves. In addition, almost everyone uses bitcoin to make a profit, whereas at Stablecoin where it is possible to get profits at a stable price. That is the reason why Stablecoin cannot compete with Bitcoin because it is not very attractive, its use is only to stabilize assets, or only as a payment medium.

[Samayuki]

You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?

It won't make a difference because, stable coins don't bring back profit, they are use to keep or hold a certain amount of dollars to avoid depreciation, people invest in bitcoin and other coins to make profit, thats a fact and their is no reason for them to invest in stablecoin since it can't appreciate in price

[lobat999]

You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?

While its technically feasible to address issues such as high transaction fees and high volatility inherent to Bitcoin, stablecoins also had its share of issues particularly with the most famous and well used of them all, the USDT (Tether), which may be the reason why some merchants such as Steam hadn't opted in integrating it into their platform aside from the fact that the token is very well centralized in nature which is naturally frowned upon by most of the crypto-community.