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TGD
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October 21, 2019, 06:49:13 AM |
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In trading, stable coins are very useful for storing values or locking profits. And stable coin is not a threat for Bitcoin. Stable coins are only a complement to support the needs of traders. And there is nothing to lose if you hold or deposit a portion of a stable coin to store trading profits.
It's more of a standby area to be able to buy bitcoin in our desired price. I don't think it affects Bitcoin too much since we all have different prospect amount. It allows us to trade any time we wanted without the hassle of converting and cashing in our fiat. They both help traders in different way since in bitcoin will be able to earn unlike in stable coins so no rivalry needed. |
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mdzahed134
Sr. Member
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Activity: 2142
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Vave.com - Crypto Casino
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October 21, 2019, 12:00:24 PM |
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Let's discuss the potential effects of stable coins which are bound to usd or eur. We usually use them to avoid the volatility or short bitcoin in a way. There are many stable coins in the last year. By writing threat, I didn't mean issues like tether's issue. I mean, they are not coins, they are just usd and eur.
No, i don’t think that stable coins are a threat for Bitcoin or Ethereum. Yeah, a lot of controversy regarding stable coins specifically Tether (USDT) is the most using currency that's why all of the people’s used it for many different purposes. In the trading it’s highly used. Actually, stable coins can be protect your losses when the crypto market is very badly go to downtrend. This one is really big advantages in the crypto space. How it will be threat for Bitcoin i don’t know. |
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tungaqhd
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October 21, 2019, 01:00:56 PM |
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Let's discuss the potential effects of stable coins which are bound to usd or eur. We usually use them to avoid the volatility or short bitcoin in a way. There are many stable coins in the last year. By writing threat, I didn't mean issues like tether's issue. I mean, they are not coins, they are just usd and eur.
No, i don’t think that stable coins are a threat for Bitcoin or Ethereum. Yeah, a lot of controversy regarding stable coins specifically Tether (USDT) is the most using currency that's why all of the people’s used it for many different purposes. In the trading it’s highly used. Actually, stable coins can be protect your losses when the crypto market is very badly go to downtrend. This one is really big advantages in the crypto space. How it will be threat for Bitcoin i don’t know. Yes, stable coins are good and it is suitable for every user to be able to trade and transfer money to each other in this area, even looking further, this could be a connection between the crypto world and the outside world but even though everything has such great points, it's still not likely to threaten bitcoin. Because if stable coins are the connection and make every transaction easier without volatility, Bitcoin is the dominant place, it creates money, creates jobs and changes for people to make money, Bitcoin is the center of interaction, while stable coins are just a small bridge |
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nicecrypto
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October 21, 2019, 02:03:13 PM |
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how can stable coin be a threat to bitcoin when they don't even grow in price? the only reason why people patronize stable coins is because of the high volatility in market, if btc price was not fluctuate too much and a bit steady nobody will think of preserving their money in stable coin because you don't need it, stable coin are only there for one purpose only and that is not enough reason to be a threat.
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pilot1970
Newbie
Offline
Activity: 14
Merit: 0
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October 21, 2019, 03:24:04 PM |
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I really don't think they are a threat, although there are several Stable Coins that have grown substantially like Theter, TrueUSD, and so on. The truth is that most people prefer projects where there is the possibility of obtaining higher returns, assuming the risk of volatility, most cryptocurrency projects have grown in the medium and long term, people know it and are more inclined to This type of projects.
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xiboothrezi
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October 21, 2019, 04:06:02 PM |
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Stable coins are often used to overcome unpredictable price changes so that greater losses can be avoided but still have the control to change strategies. In short, stable coins are digitalization of the price of a currency (such as USD -> USDT), valuables (such as gold -> GOLD Tokens), and various other subjects whether they have real value or not.
I'm still confused, how can that be a threat to BTC? while stable coin itself has a function and purpose of creation that is clearly different from bitcoin. Both are in different ecosystems.
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senin
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October 21, 2019, 06:13:50 PM |
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I think that stable coins have both a positive and a negative effect on cryptocurrency, including bitcoin. Stable coins, since they work like a cryptocurrency, will attract people's attention to a decentralized cryptocurrency. However, most likely, stable coins will be in great demand and trust of people, especially if they are created by governments, and will draw on themselves monetary resources as a means of payment. Therefore, with the advent of stable coins, one should expect a decrease in the number of transactions of a decentralized cryptocurrency as a means of payment.
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ILuckyGuyI
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October 21, 2019, 07:03:38 PM |
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I don't see stable coins as a threat for Bitcoin. Instead, I see stable coins can be alternatives for fiat money. Governments don't like volatile money. So, stable coins can be better than fiat money as a choice. As for Bitcoin, I think it will be one of the best payment methods for a very long time.
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darkangel11
Legendary
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Defend Bitcoin and its PoW: bitcoincleanup.com
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October 21, 2019, 08:30:26 PM |
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Stable coins are a threat but only in the eyes of the general public which is not familiar with cryptocurrencies. USDt and the rest of them aren't cryptocurrencies but they are calling themselves this way. An average person will not see the difference and when these "cryptos" become known as the quantitative easing of the bitcoin world the FUDding will begin. Bitcoin can't be weakened by money printing but when exchanges are trading Bitcoin for freshly printed stablecoins like they're dollars (which they are not, not even close) you'll literally selling your BTC for nothing.
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micalith (OP)
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October 21, 2019, 11:06:40 PM |
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how can stable coin be a threat to bitcoin when they don't even grow in price? the only reason why people patronize stable coins is because of the high volatility in market, if btc price was not fluctuate too much and a bit steady nobody will think of preserving their money in stable coin because you don't need it, stable coin are only there for one purpose only and that is not enough reason to be a threat.
Since there are unlimited usd printings, we may have plenty of stable coins in the environment. They may start to buy bitcoin with these centralized traditional money. So, we will probably have less Bitcoins in our hand because with these traditional money, the governments will have a lot of Bitcoin. This is a risk. |
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Reid
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October 22, 2019, 04:29:51 AM |
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No worries. Those stable coins wont change in value. They will just be the same even if we talk about it forever.
Even with a great hype there wont be any changes.
Better calm down and just use them.
Somehow you could make profits out of it if done right. That is what they are for now. A scapegoat. Instead of doing it like before where we sell bitcoin for altcoin where there is a risk for the price to fall in just a manner of time.
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Docnaster
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October 22, 2019, 05:29:18 AM |
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No I do not see them as a thread but as a boon for the crypto economy. Stable coins can do things that Bitcoin or most major altcoins cannot do. That is to take care of the day to day transaction of everyday people and to provide a stable vehicle for people to park their money in times of instability.
Think of it like, if Bitcoin is a Bus, Altcoins are the steering and stablecoins are the wheels. They are not a threat but a necessity for the bus to run.
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Herbert2020
Legendary
Offline
Activity: 1946
Merit: 1137
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October 22, 2019, 08:26:57 AM |
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it is funny how people make up theories without checking any facts!
the relationship between stable coins and bitcoin is so little that it might as well not even exist. if you ignore the bitfinex (the creator and owner of the biggest stable coin) volumes you can see that practically zero. now if you check the volume of altcoins you can see the only usage it has is in altcoin trading.
so how can something that is only being used for altcoin trading even be threat to bitcoin?!!! it is like saying when Cryptsy or Bittrex scammed their users or when an ICO scammed they threatened bitcoin!!!
on top of that, people who choose bitcoin are choosing it because it is decentralized not because they need stable price.
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Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
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Ashong Salonga
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October 22, 2019, 08:31:42 AM |
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Since bitcoin is inconsistent, any stable coin can really be a threat. A stable coil can be asked by a lot of people due to the assurance of value; unlike bitcoin, they can only offer high value but not consistency.
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Casdinyard
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October 22, 2019, 11:27:48 AM |
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The word threat is understatement base on your point. I guess you should rephrase it by being a rival when it comes in mode of payment. However, that just constitutes your point. Don't get me wrong; stablecoins are definitely useful; but I won't hold them for more than a few months.
And even not for years tho. Personally, stablecoins are just a saver when taking profit. No more, no less. |
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Astvile
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October 22, 2019, 01:32:11 PM |
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Stable coins aren't still a threat for bitcoin because further development will be needed for stable coins to be on par with bitcoin. Not even those big altcoins like ethereum and litecoin can't beat bitcoin and these 2 coins are more likely to be more popular and powerful than any existing stable coins now on the market.
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EdenHazard
Legendary
Offline
Activity: 2674
Merit: 1048
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October 22, 2019, 01:48:56 PM |
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Stable coins are not used to short Bitcoin, but rather to give traditional investors that are used to more stable commodities a safe option to invest in Crypto currencies. A lot of the more traditional investors are not used to the crazy volatility of Bitcoin and are hesitant to invest in something with high volatility, so they opt for asset backed Stable coins.  Most of the money invested in those coins are just converted back to fiat currencies, so it has no impact on the Bitcoin price. Tether might be a trading pair with Bitcoin in some way.  This stable coin concept is something that most of crypto stakeholders aware that its threat is not to beat bitcoin popularity or even its functionality, as you said the stable coin vision is as a safe investment... i mean a traditional investors at some point looking for a place to custody their funds, they are looking for a place where you don't need to cash the money out but store it on a safe investment which at this point stable coin is the preferred one. The real threat about this stablecoin is that nobody knows whether the 1 USDT is really pegged to 1 USD ... 1 PAX, is it really pegged to 1 ounce gold? Can they prove it all? These market is surely manipulated to keep the price stable , let's see how long it will last. There's nothing to do with bitcoin. |
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Youghoor
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October 22, 2019, 02:07:13 PM |
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Let's discuss the potential effects of stable coins which are bound to usd or eur. We usually use them to avoid the volatility or short bitcoin in a way. There are many stable coins in the last year. By writing threat, I didn't mean issues like tether's issue. I mean, they are not coins, they are just usd and eur.
First and foremost, stable coins are no threat to Bitcoin. Why will you ever think Stable coins are a threat to Bitcoin? People in the crypto space hardly use stable coins for their transactions online. Stable coins are basically used as a trading coin and do not have the qualities that can threating the existence of Bitcoin. You need to provide us with enough reasons why you think stable coins have good potential than Bitcoin. People will rather prefer to invest in crypto coins which are volatile than stable coins. |
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rachmat5893
Jr. Member
Offline
Activity: 182
Merit: 2
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October 22, 2019, 02:10:25 PM |
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Stable coins in my opinion are not investment coins, because they are said to have a fixed price and are only used to fix someone's portfolio price without adding or reducing the value of the price.
This has advantages and disadvantages. You should not expect profits by investing in stable coins. expect in special cases where dividends are given to the holders. may have no effect on bitcoin and I would not believe that stable coins would be a threat to bitcoin.
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star99
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Activity: 11
Merit: 0
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October 22, 2019, 02:40:17 PM |
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Let's discuss the potential effects of stable coins which are bound to usd or eur. We usually use them to avoid the volatility or short bitcoin in a way. There are many stable coins in the last year. By writing threat, I didn't mean issues like tether's issue. I mean, they are not coins, they are just usd and eur.
I dont think Bitcoin has threat with any stable coin. Bitcoin is way difference from fiat. |
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