StableCoins might increase crypto adoption by big companies ?

[BintangBuleun]

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?

Yes. I think the advantage of a stable coin is that it can be used for exchange within a company, this can replace the USD. In this case, maybe a stable coin will be superior to Bitcoin. Bitcoin prices tend to be volatile. But in terms of investment and trading, people prefer Bitcoin. I don't even like stable coins in terms of investment.

[Absolutep]

Mant organisation will still prefer coins like BTC, Eth, and some other good coins to stable coin because they have more benefits than stable coins. Personally i also prefer BTC to stable coin, so i don't see stable coins increasing crypto adoption.

[AmoreJaz]

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?

Yes. I think the advantage of a stable coin is that it can be used for exchange within a company, this can replace the USD. In this case, maybe a stable coin will be superior to Bitcoin. Bitcoin prices tend to be volatile. But in terms of investment and trading, people prefer Bitcoin. I don't even like stable coins in terms of investment.

stable coins can be very helpful if and only if they have true backing as claimed by the issuer or developers. but we already found out that most stable coins claimed to have certain fiat backing are not 100% true.
this type of coin can be of great use if they are true to their claims especially within the ecosystem of a big company.
but outperforming bitcoin? i highly doubt that.

[JeffBrad12]

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?

Yes. I think the advantage of a stable coin is that it can be used for exchange within a company, this can replace the USD. In this case, maybe a stable coin will be superior to Bitcoin. Bitcoin prices tend to be volatile. But in terms of investment and trading, people prefer Bitcoin. I don't even like stable coins in terms of investment.

stable coins can be very helpful if and only if they have true backing as claimed by the issuer or developers. but we already found out that most stable coins claimed to have certain fiat backing are not 100% true.
this type of coin can be of great use if they are true to their claims especially within the ecosystem of a big company.
but outperforming bitcoin? i highly doubt that.

Most of the stablecoins that have undergone inspection by the SEC has proven to have the reserve funding and it's even being informed on many medias. There might be some stablecoins that are utter bullshit or in otherwords is just a scam but there are many stablecoins that is legit aswell.
If you don't believe just find some reliable stablecoins in the news they usually inform about the inspection done by SEC for certain stablecoins company and you can also see how much fund they have reserved.

[laskybok]

If what they want is what has lesser volatility, that means that stable coin will be the best option for them. The reason being that, at the moment, the market is not yet in a stable state, although there is also little fluctuation in stable coinss' prices. The companies that are also working towards mass adoption will go after already established cryptocurrency.

[crzy]

Every coin moves depends on the demand and supply and it will be hard if to find a stable coin not unless they created their own coin to use on their platform just what Facebook is planning. Bitcoin volatility will continue because of future updates like the halving and many more, if those companies start adopting other coins, it will still be good for the whole cryptomarket so nothing to worry.

[Tylev]

Stable coins have recently been very well developed and supported by society. Although this is not entirely a cryptocurrency, however, due to the fact that they are often created by states and supported by their authority, people have great confidence in a decentralized cryptocurrency and in this connection it becomes more recognizable and popular. Therefore, I believe that stable coins as a whole positively affect decentralized cryptocurrency, however, on the other hand, they take away potential users from them. However, this is a manifestation of market laws. The strongest survives here. Stable coins create real competition with conventional cryptocurrencies as a means of payment, forcing cryptocurrencies to improve.

[maxreish]

You have a great point there, OP. Since companies current problem accepting and adopting crypto payments is about the volatility of it, stable coins will be a great options because of it's volatility-free characteristic. If one certain company will gonna accept stable crypto coin as a payment, others may follow and will lead to success adoption by many merchants. It can be pegged or pair by other assets so i dont think there will be a problem at all.

[efxtrader]

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?

If the problem is use as a direct payment tool, I think we can use a credit card instead of a stable coin. Bitcoin and other cryptos should be used as digital assets and might be used as a means of payment. In my opinion, stable coins should only be used in exchangers and when exchangers have received deposits and withdrawals with fiat, then actually stable coins can not be used

[Wysi]

You have a great point there, OP. Since companies current problem accepting and adopting crypto payments is about the volatility of it, stable coins will be a great options because of it's volatility-free characteristic. If one certain company will gonna accept stable crypto coin as a payment, others may follow and will lead to success adoption by many merchants. It can be pegged or pair by other assets so i dont think there will be a problem at all.

This is a new revolution which we are awaiting as this gives the companies security from any volatility as they don't have to bother about the pump or dump with crypto as stable coins don't go through the fluctuations which other crypto does and moreover they have the benefit of being decentralized and definitely this will be a game changer and more organizations will adopt similar policy towards stable coin it's like a boom for them but I hope they don't use it to evade taxes.

[justdimin]

Stablecoins have one big major problem tho. They are not really backed 1 to 1 and they are centralized in that regard. For example usdt used to claim that they were 1 to 1 backed, now they claim they are not backed at all, now you can't even actually cash out your usdt into dollars. So, you are trusting one company to be legit about what they are doing when you are using USDT, that is not really acceptable in a world where decentralization is the whole purpose.

There could be some stablecoins that get attention from the big companies and gets huge and everyone starts using it (for example if LIBRA starts out and everyone uses it on instagram/whatsapp etc) but the moment that company turns out to be fiddling with peoples money then there could be some sort of trouble.

[alexsandria]

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?

Such idea may only imply if the company are willing to take the risk that crypto currency can offer. In a sense of stability stable coins are on the top over bitcoin but the profit in this is literally the price itself the clients would pay which on the other hand bitcoin could definitely out run if and only if the market would be in favor. Well bitcoin is totally in the edge here in terms of stability but if the company would to make it more out of it but as well willing to take the risk then bitcoin wins over here.

[SamarasLoch]

Stablecoins like everything have their own demerits send drawbacks. They aren't even 100% stable to start from. Although, I believe that for Crypto to be widely accepted and utilized we need less volatility that boy coin is a master at. Stablecoins might just be the way forward but its going to take a lot of delegation and support for one of the big guys to go into cryptocurrencies.

[Convery]

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.

But when you are the merchant you would like stability. Imagine that you accept payments for goods and in few hours you have lower value than you received. Is this what you want? Is this something what helps the adoption? No! Stable coins use the blockchain technology and have all the cool features while their price is stable in a time. So why not to use it, if you prefer stability before speculation?

[BintangBuleun]

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?

Yes. I think the advantage of a stable coin is that it can be used for exchange within a company, this can replace the USD. In this case, maybe a stable coin will be superior to Bitcoin. Bitcoin prices tend to be volatile. But in terms of investment and trading, people prefer Bitcoin. I don't even like stable coins in terms of investment.

stable coins can be very helpful if and only if they have true backing as claimed by the issuer or developers. but we already found out that most stable coins claimed to have certain fiat backing are not 100% true.
this type of coin can be of great use if they are true to their claims especially within the ecosystem of a big company.
but outperforming bitcoin? i highly doubt that.

But it is proven that currently stable coins are still able to maintain the value according to what was planned, even the development of stable coins is faster. We take the example of Tether, now it has beaten many other coins. Tether is already ranked 5. If you look at daily volume, Tether is higher than all coins, including Bitcoin.

[Dellosoft]

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?

No stablecoin can outperform bitcoin when it comes to acceptance in this regard, but obviously mainstream companies might prefer to accept stable coins due to the market volatility. For instance, an online store in my zone previously accepting BTC, ETH and USDT now accepts only USDT, for same volatility reasons.

[irixo10]

You made good points but at this juncture in the crypto space, I think it will be hard for any coin to outperform Bitcoin. Yes the value of Bitcoin is volatile and stablecoins plays a vital role in this space, but over the years none has been able to even challenge ETH let alone BTC. One thing is, every coin has its specific role which makes it relevant; stablecoins are mostly used for hedging funds for traders and they are more than 1, the question is why? Because each believes it can offer more. Bitcoin will always be seen as a universal coin while others will play their role in different aspects of this space.

[iv4n]

But in the end stable coins will stay stable, tied to a dollar value!

But it is proven that currently stable coins are still able to maintain the value according to what was planned, even the development of stable coins is faster. We take the example of Tether, now it has beaten many other coins. Tether is already ranked 5. If you look at daily volume, Tether is higher than all coins, including Bitcoin.

Who makes volume? That volume comes from pairs USDT/BTC, USDT/ETH, USDT/anycoin...What kind of development usdt have? Centralized coin, made with just one purpose to be a dollar substitute, about supply to not even talk, and you talk about some progress.

In this times stable coins are making things easier for traders and for some services, that is a fact. But that is now, will we need tether in the future?  

[sikke]

I think that is purely a myth.

Stablecoins aren't allowing institutions to adopt more. What they are allowing is people to access and trade cryptos more easily, circumventing fiat related regulations when it comes to trading because of the fact that it is a blockchain based token, retaining fungibility and anonymity to a degree of traditional cryptos.

In terms of institutions, I find it highly unlikely they'll favour stablecoins for their day to day operations as opposed to simply using existing banking services.

[stepwilli]

Stablecoins like everything have their own demerits send drawbacks. They aren't even 100% stable to start from. Although, I believe that for Crypto to be widely accepted and utilized we need less volatility that boy coin is a master at. Stablecoins might just be the way forward but its going to take a lot of delegation and support for one of the big guys to go into cryptocurrencies.

Stable coins might actually thrive because of the absence of volatility and this is volatility is what has actually been scaring people from using cryptocurrency for the main reason of its creation by satoshi which you will agree with me that is peer to peer, but I don’t want a situation whereby a friend, customer or relatives will send money to me now, and before it could even drop into the market, the value would have dropped already.

In the case of stable coins, what you send is what you get and no matter how little the fluctuation is, it may still not have very much impact on the sender and the receiver, but the challenge I have is if those companies handling it are really trustworthy? Would they be able to maintain the stable coin and not have issue with people’s fund in future?