StableCoins might increase crypto adoption by big companies ?

[ChrisPop]

Well.. it is not really stable coins we're trying to implement here isn't it? Because we already have the electronic payment methods which are pretty much the same as using a wallet to send money & you only need to swipe your card. I think that Bitcoin's mission is much bigger than that - to become a worldwide universal currency that is not governed by banks and people control it, not governments or central entities. The current stable coins have many reliablility problems. DAI sometimes has some brutal volatility spikes that are not a good sign at all. USDT is shady and the other stable coins are rarely used. I've noticed that crypto enthusiasts don't manifest much interest for them.

[PuertoLibre]

I do not know why most the popular company not accept payment in stablecoin, if they do not like to accept bitcoin due wide range price, stablecoin not.

The problems of stable coins don't let popular companies accept stable coins as a payment method. Stablecoins lost the popularity after the Tether scandal and the big crypto exchanges especailly Bitfinex was sued by the investors AFAIK. I don't guess the formal payment methods will be ignored and the preference will be given to the stable cryptocurrencies.

[Cryptoletsgo1]

100% agree with that. I think stablecoins are already doing that actually, they are light and mobile friendly for future apps and payment channels 👍🏼✌🏼

[tenakha]

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?

Accepting crypto as payment gives hope to other options. But it is a bit suspicious that it is stablecoin, not crypto. What is the difference between controllable stablecoins with paper money? It is useful to pay less fees in cryptotrade. But what does it mean to be accepted as a payment? Stablecoins are not real cryptocurrencies. Besides why should they use it, when we even thought it is scam? Stablecoins are useless outside this area.

[gunhell16]

If stable coin will get more investors and those companies will just have that then what is the main purpose of cryptocurrency?
crypto is designed for freedom of currency and the anonymous gaining and saving of your wealth!
Crypto is here and the stable coin will not add anything but the demand is the best way to get more demands from people!

[lobat999]

Well.. it is not really stable coins we're trying to implement here isn't it? Because we already have the electronic payment methods which are pretty much the same as using a wallet to send money & you only need to swipe your card. I think that Bitcoin's mission is much bigger than that - to become a worldwide universal currency that is not governed by banks and people control it, not governments or central entities. The current stable coins have many reliablility problems. DAI sometimes has some brutal volatility spikes that are not a good sign at all. USDT is shady and the other stable coins are rarely used. I've noticed that crypto enthusiasts don't manifest much interest for them.

Actually, there are mechanisms that could overcome sudden effects of crypto volatility and with it, we could even disregard the use of stablecoins as a payment option to foster merchant adoption! And I think one way that could do this is to replicate what local exchanges are doing or adopt strategies in their business model to mitigate volatility.

I am not an expert on this field and I assume this local exchanges are doing the right way combating volatility because if they were not performing right on this field, then they would have been gone out of their business and succumbed to the competition a long time ago! So  its up to the merchants if they really want to adopt crypto into their businesses and should find ways to further grow their business through crypto adoption, but no stablecoins please.

[plast555]

I think Stable coins prevent the price of Bitcoin or other altcoins from increasing at large rates. If Stable coins had never existed, the price of Bitcoin would probably be much more than that now.

But for the adaptation, I agree with the author's opinion. Firms can adapt to blockchain more quickly with the help of stable coins. That's because fluctuations in the price of altcoins outside stable coins can pose an element of risk for large firms.

So I think it's right that stable coins should be preferred more for adaptation.

[numizmat]

There are also some new investment tools, allowing to get returns on stablecoins investing, for example, Invictus Margin Lending (IML) Fund that aims to provide investors with exposure to margin lending returns. Average annualized daily rates for USD in this capacity on Bitfinex have been in excess of 16% for the past 12 months.

The fund only holds USD or USD-equivalent TrueUSD (TUSD) stablecoins. Fund capital is lent out to traders, who borrow these assets primarily for leveraged trading. There is on-demand liquidity for IML token holders, who are able to invest or redeem from the fund on a daily basis. Traders borrow these assets primarily for leverage trading via major cryptocurrency exchanges.
Because the demand is strong and growing while several platforms have recently introduced margin trading functionality or increased the maximum leverage available to traders. Returns have exceeded the hurdle rate since inception, with consistent net returns at rates of approximately 11%.

[Questat]

If stable coin will get more investors and those companies will just have that then what is the main purpose of cryptocurrency?

The major purpose of cryptocurrency actually is decentralization and a store of value for your money, that's what I understand as that concept is coming from bitcoin which is the most popular, stable coins are just created later, or use for trading to hedge from volatility.

Now, there's a lot of stable coin with different purpose, and the most anticipated was Libra was is being criticize but once it will be launch it will gain a lot of users that would help to increase adoption in crypto space.

crypto is designed for freedom of currency and the anonymous gaining and saving of your wealth!
Crypto is here and the stable coin will not add anything but the demand is the best way to get more demands from people!

That was the original purpose but this market is growing and its normal to see more coins created, and stable coin and volatile coins are both useful as in real world, most of the things and services are still bought through fiat.

[ethereumhunter]

That could happen because stable coins don't have any issue with the bitcoin price. Besides that, the price of stable coin is not fluctuating or moving up and down too fast like the bitcoin or altcoin. Maybe soon, the stable coin will be used as a bridge for e-commerce so people will interest in cryptocurrency.

But stable coin cannot outperform bitcoin because bitcoin will still be the leader of the cryptocurrency. It is hard to compete with bitcoin, and I don't think that any coin can do that.

[jessyj48]

Your point makes sense because stable coins are the only digital currencies that can be used as real store of values, from trading to means of payment but on the other part i think bitcoin and eth will gain investors mind than stablecoins, bitcoin is not a stable coin but its capable of bringing back profit to investors, this is a big step forward

[Pearls Before Swine]

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.

Not being a gamer myself and never having used Steam, I wonder if many users were actually using bitcoin for purchases there.  It seems weird to me that volatility would be the main issue with them dropping bitcoin support, because the payment processor is supposed to ensure that the merchant doesn't suffer any of that.  Bitcoin is converted to fiat before the merchant gets paid, so it shouldn't have been an issue and if it was then there wouldn't be anybody accepting bitcoin at all.

I don't think stable coins are going to have any influence on businesses accepting crypto, except for facebook obviously, and only if Libra sees the light of day.  Why would anyone bother to pay with a stable coin instead of fiat?  People might find themselves owning some bitcoin they bought or earned, but the same cannot be said of something like Tether or the like.  Nobody is going to be buying that in order to spend it on something. 

[audaciousbeing]

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 real question is if bitcoin is stable, would it encourage companies you mention to start accepting crypto into their payment systems. Acceptance of crypto goes beyond being stable. If you look at the alt market, you will realize that there are certain coins that have not moved significantly over the last few months or hovering in a particular range, which can be said to be stable but does that mean it will be adopted? Of course not because it goes beyond that. What is the degree of acceptance or the ease of exchange to fiat, the control, the sustainability, the spread among other test that it must pass before being considered by any company.

[Getmon]

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 is very possible but only if the likes of Steam will start allowing its clients to use USDT. If companies as well as their customers will prefer stable coins over Bitcoin, they will outperform it. What I doubt is that these companies will adopt stablecoins more than Bitcoin. Stable coins are not the cryptocurrencies that the crypto supporters truly wanted. Stable coins are like extension of fiat.

[Sithara007]

The solution to reduce volatility is not to use stablecoins such as USDT. The volatility issue can't be resolved by the usage of stablecoins. The real solution is to use a payment processor which would convert the Bitcoin (or any other cryptocurrency) to fiat in real time. Direct payments using Bitcoin is always problematic, because there will be a delay in getting confirmations and by the time we get confirmation, the exchange rate would have changed. Using a cryptocurrency payment processor would alleviate these issues and take the volatility factor out of the equation.

[dnprock]

I'm working on a coin experiment, Bitflate. Instead of limited supply, it has constant inflation. I think inflation can reduce price volatility. When price fluctuate less, I think business can accept it. Bitflate is digital native and decentralized like Bitcoin.

https://bitflate.org/post/2019/04/14/bitflate-cryptocurrency-with-constant-inflation.html

Even though the chain inflates at 7%, if adoption rises faster, I think the coin may gain value. Do Your Own Research.

Join our discord community: https://discord.gg/utnEyp8

[Aabcde]

What do you mean outperform? in what way? price? speed? safe? hype? So many meanings.
If we talk about prices, then obviously Stablecoin won't be able to compete with bitcoin. Speed ​​& safe? already available lightning network for sending bitcoin quickly, cheaply and of course safe.
If the problem is volatility, I don't think this is a big problem. Because this could be a boon for the company because of the price difference when it gets bitcoin from consumer payments.

[Drai]

Whenever I see the news that Ripple fan are circulating about how XRO would be used for cross border payments by banks, I just laugh because there is no way I can see that working out, imagine if a bank were to make transfer of 1000 XRP worth $300 at the time of sending and when the customer receives the funds and tries to withdraw, there was a slight dip and the dollar value has reduced to $290, do you think that would be sustainable? Whenever I envision big cooperations using Cryptocurrencies, I always envisioned it to be stablecoins. I think they are the future of payments.

[Landak]

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.

ouch, sad news
it's been a long time since I logged in Steam. it turns out that now payments using bitcoin are no longer available? I last filled a steam balance in 2017 to buy a battle pass.

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 think stablecoin existence cannot replace Bitcoin. although it is possible stablecoin can be available as a payment option other than bitcoin.
until now I have never found a merchant store/steam store or other stores using payments other than bitcoin (cryptocurrency), USDT which is considered stable but has never been used as payment

[2tang]

Is it possible some stablecoin might outperform bitcoin regarding this?

it can happen but it is still a discourse if official stablecoin is used by large companies as a means of payment cryptocurrency.bitcoin has a strong foundation from any sector, enthusiasts, adoption.  and bitcoin as the strongest market predator. Large companies must be brave to risk if they are afraid of price volatility