StableCoins might increase crypto adoption by big companies ?

[TGD]

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.

This can depend on a company, we have store here that accepts BTC though it's just a small store since the owner is a believer of bitcoin, apparently only few pays in it. My point is if the owner of a company is somehow believes in the future of Bitcoin they can probably sustain it even its drops in value, however if not like Steam then stablecoins can be a solution since they already have idea on how crypto works same with other big companies that may find crypto system difficult to maintain in finances. But, if ever I'll have a company I will be happy to accept BTC as a payment, it will depends on me if I will use it as Investment and the fiat payment that is left will be the circulation money to upkeep the business.

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[Vitamin_52]

Well, bitcoin jumps up and down, of course it will not be convenient for the company when it falls. You can accept payments in USDT currency, it is a stable cryptocurrency

[rahmatullah9305]

The crypto industry is still in its infancy, so many things can and will continue to happen. I believe adopting Stablecoin is a step in the right direction, not only as a technology in itself, but also because it can expand education about cryptocurrency and access to other cryptocurrency like Bitcoin substantially. Stablecoin is still very useful for more interoperability across businesses and markets.

[lousie9]

talking about volatility and liquidity differ from each other, like the stable coins you said above can increase crypto adoption, but it is not possible to outperform the price of bitcoin. bitcoin is a cryptoqurrency currency and one of the top coins in the crypto industry. so I don't think Stablecoin will outperform bitcoin in terms of price but stableCoin can only increase crypto adoption.

[Questat]

How would this help the crypto market to grow? Actually IMO, we don't more more stable coin and what we really need are coins that will provide new innovation helpful to improve this market. Maybe this kind of news that big companies stopped accepting bitcoin even through 3rd party is what entice the facebook to launch its libra coin, but it's facing some problems now, so I think no stable coin that would generate massive adoption.

[SistaFista]

Im not sure about that. Stable coins are not belong on cryptocurrency, it is kind a centralized coins i think.
To increase cryptocurrency adoption, we must create more legit and profiting crypto projects.
With some good projects, peoples will come to using cryptocurrency and big companies start to using it as well.

[Arsenyo]

For me stablecoins are like a bridge between the traditional and the crypto financial worlds. I am sure it will bring more adoption for cryptocurrencies and reduce risks associated with government regulations. But it will never replace bitcoin, neither in value or prices or volume.

[Kyraishi]

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).

Thinking back on it, I don't think having a stable price is the issue, bitpay and other payment processers charge a decent chunk of change and they have the ability to instantly exchange it to USD.

Stablecoins isn't really what BTC was meant to be about to be fair though, makes things a lot more boring and goes against everything

[cudora]

What is the point in using Stablecoins, it does not make sense to me at all. Furthermore, it is pretty hard to find a trustworthy stablecoin, because Tether is manipulated the whole time, DAI is backed by ETH which is unstable as well.

[Maturnuwun]

like most others, I'll just say a little about this.
that stablecoin is included in the fixed price category.
so if you mean stablecoin in real assets like dollars (USD) it is a stable currency in real life
while stable coins in cryptoqurrency assets can be like USDC or USDT including stable digital currencies that exist in this cryptoqurrency market.
so, I think stable coins cannot outperform bitcoin more than what they have produced so far such as (USDT, USDC etc.)

[o48o]

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?

Doesn't the bitpay service convert the bitcoin to fiat-money automatically for the retailer? So volatility shouldn't be the issue, i think that they just want to stay away from cryptos for now because of other reasons.

[NathanJB]

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?

First, why would they use stablecoins when they can use cashless transactions? That is basically the same for me. Stablecoins are pegged on the US Dollar and so if I buy stuff from Steam and Amazon I could very well use my card instead. There is no sense buying stablecoins for this sake. It is just adding another layer of transaction when it is not really necessary. If they incorporate cryptocurrency, it should be Bitcoin first and foremost. Let the volatility issue turn out beneficial to them. They can do that of course. 

[dothebeats]

Doesn't the bitpay service convert the bitcoin to fiat-money automatically for the retailer? So volatility shouldn't be the issue, i think that they just want to stay away from cryptos for now because of other reasons.

AFAIK Steam abruptly ended the partnership with Bitpay due to reasons unknown up to this point. It's not due to volatility since Bitpay handles all the conversions from crypto to fiat in a seamless manner. And no, I don't think stablecoins would have a say/part in e-Commerce knowing that they are basically just tools used to transfer value from one exchange to another and not necessarily as a currency per se. And with what Steam did to the payment option of bitcoin last 3 years ago, I can say that no change of heart has happened even though bitcoin and the whole cryptomarket went to the sky and fell down to where it is right now.

[qiwoman2]

Stablecoins really were just created for people to park their money and not lose their profits in times of high volatility. Tether was created by Bitfinix to protect first the interests of the big Whales and to help those market makers in their initial dumping sessions, to dump before everyone else can do anything, so they can keep the wealth for themselves again. Of course, many people don't know how to trade and to be honest stablecoins don't have much other usage at the moment. They are good for those who have them and if they don't want to use money in their bank they can use it to buy things if a merchant allows. I don't think that's a bad thing for those who actually only earn or own crypto and not fiat.

[TrevorS]

In fact, stable systems are no different from ordinary national currencies such as dollars and euros.
It may well become a gateway through which the crypto community and simply cryptocurrency users can use bitcoin as a means of payment.
However, the question arises from which side Bitcoin - stablecoin and vice versa will be exchanged.

[Seghokendil]

what I know is stable coins are centralized coins and do not have advantages like other decentralized crypturrency and the price is very volatile. so if I say about profits in investing the answer is fluctuating coins like bitcoin and some other altcoins that are not stable coins. but if you rely on stable coins as an investment tool, it will not give you more profit.

[lobat999]

First, why would they use stablecoins when they can use cashless transactions? That is basically the same for me. Stablecoins are pegged on the US Dollar and so if I buy stuff from Steam and Amazon I could very well use my card instead.

A wise decision indeed! I guess using cards for online purchases could be  more handy and comfortable than using a stablecoin! On the contrary, stablecoins specifically with Tether have known risks associated with it that is why most merchants could not be easily convinced in adopting it - one reason mainly because it has been controversial with regards to the integrity of fiat backing and until this date, the holding company of Tether hasn't provided any verifiable proof that Tether has indeed a 1:1 backing for U.S. dollar!

So in essence, if you buy goods or services using your  cards, the merchants are assured it has fiat backings courtesy from the bank of financial institutions that issued it whereas if you use a stablecoin such as Tether, merchants are not really sure if it indeed has fiat backing - the reason why stablecoins would not get a wider audience and adoption in the long run. Imho.

[electronicash]

businesses always want stability. one would understand that they are for profit, holding btc in their wallets are just going to risky for them since they know the prie could just drop to a hundred to thousands in a single day, who wants that.

those who has the mind to really look at the future and where is cryptocurrency going to go, they are looking into it and must have seen it that way that stability of a cryptocurrency will make them accept it like fiat.

[crypoco]

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.

[beerlover]

I think stablecoins will not but those big companies may make their own ones. We already know that most stablecoins like usdt are scamming people anyway, you can't even withdraw dollars right now so I have no idea why people still use it, big companies will definitely not adopt something like USDT that worth zero, they are not that idiots, huge companies are bigger than most nations, if they make their own currency slowly then people may start to use that.

Think about it, applepay or whatever is already a good thing, how about applecoin? Facebook is big enough, how about Libra? Starbucks is huge everywhere, what about stars bucks or whatever. I mean stablecoin idea itself is good for companies to make their own but they will definitely not use the scam ones we have now.