Stable Coins are a Threat for Bitcoin?

[qiman]

Stablecoins were primarily created so that the big whales would park their wealth in there as and when they decide to short the Bitcoin market. This is what happened ever since Bitcoin futures and Tether were brought to the scene. They wrecked the little people and small traders by introducing stable coins. Now of course they are still a good hedge for the general instability and volatility of the market. Nexo for example give 8% a year APR annual interest given out daily for those who hold stablecoins in their NEXO wallet, so that is a stable income if say you have parked like 100k USD worth. You make a wage just by doing that, passive income.

[Eclipse26]

Obviously no. The volatility of bitcoin makes it unique compared to stablecoins just like usd and euro. That's one of the factor why bitcoin is gaining more attention. Although it encompasses high risk, it can also be something positive which stablecoins don't have. I just don't really see stablecoin being a threat to bitcoin.

[micalith]

Let me be more clear. People shouldn't think that they can 'convert' to usd or eur anytime. This is not bitcoin. We shouldn't be using traditional money. With stable coins, we will have a way for changing to these traditional money. If we are to use them, why do we need Bitcoin and other altcoins?

[suvo05]

People always want to make profit from their investment, and the people who are investing in crypto are  risk-takers. Also, there is always a discussion about the BTC price going to the moon. So I think more people will choose bitcoin over the stable coins. The stable coin will also bring the people in the crypto market who were afraid of the volatility of the crypto-coin prices and eventually it will be good for the total crypto market as well.

[Dreamr]

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 don't think stablecoins are a threat to bitcoin at all because they are just safe coins to short bitcoin during harsh market conditions. Stablecoins pose no threat to bitcoin or any altcoins rather threat to each other "stablecoins" in the name of competition.   

[vladimirhf]

they are more likely to be adopted for commerce while bitcoin is seen as "investment". They are not a threat but a step towards the future cryptocurrency adoption. Bitcoin price won't go up forever, it tends to stabilize as the number of users and volume grow up.

[Expecto]

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.

To my mind, stable coins (e.g. Libra) won't be a threat for Bitcoin. Bitcoin will continue to develop and be among the top currencies in the future. Besides, stable coins can be used by governments after fiat money loses its worth.

[ReiMomo]

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.

To my mind, stable coins (e.g. Libra) won't be a threat for Bitcoin. Bitcoin will continue to develop and be among the top currencies in the future. Besides, stable coins can be used by governments after fiat money loses its worth.

I don't think so because how they will earn from it if the price is stable? If investing is their only way to ear will It's too bad for them. Well, I don't think it's a threat for bitcoin since it still has a lot of investors now since the value dragging down so investors might earn some profit when the value rises again. Stable coins are the same ecosystem with fiat I guess.

[skarais]

I don't think so because how they will earn from it if the price is stable? If investing is their only way to ear will It's too bad for them. Well, I don't think it's a threat for bitcoin since it still has a lot of investors now since the value dragging down so investors might earn some profit when the value rises again. Stable coins are the same ecosystem with fiat I guess.

Fluctuations and volatility are two things that will support the trading and investment system. Both of these things work well and also not because they can make you lucky and also lose. Without fluctuations and volatility, I think we only save money there, which is the same as saving money in a bank or vault. I think without these two things, trade and investment are no longer attractive.

[barabarian1]

I think stable coins will not be a threat to bitcoin because they are different. stable coins are centralized while bitcoin is decentralized. and bitcoin now has a large community and trading volume so I think it will be difficult for other coins to beat bitcoin. and I think stable coins and bitcoin have different functions and uses.

[Jating]

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.

Only stable coins are going to be threat to other stable coins, simply as that. I don't think that bitcoin will be affected negatively in any way. If I'm not mistaken though, there are rumours that Tether are being used to manipulate the price of bitcoin as early as 2017, but we all know that crypto market is always based on news and speculation so I don't know if this is true or not.

And maybe that is the closest argument you can say about stable coins being a threat, using them as a sort of tool to manipulate the price to favour whales or big entities from behind.

[henmark]

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.

Most stable coins are not decentralized and people understand those, this is one of the reasons that will make people to easily choose it over bitcoin and if you look at stable coins, they are pegged to dollar or euro which make them not to have additional benefits for using them or holding them, and truth be told, people wants what will give them additional benefit which we know that the increase they get in using them is the additional benefit here, of which use will stable coin be to me when they act just like fiat.

With all these functions of stable coin that is stated, do you know that I have never even for once use stable coin before? and most of the payment I have even received from companies in cryptocurrency has all been bitcoin, so with the existence of stable coins people still hold bitcoin far more than that hold all these so called stable coins.

[Colt81]

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 is a threat for bitcoin because bitcoin has already prove it's superiority that even it decreased it's price, it still has a chance to recover it's price back up again. And if bitcoin increases it's price most coins like ETH decreased it's price due to popularity of bitcoin that a lot of people are buying it.

[Shasha80]

Did tablecoin is a threat, in principle, btc is no longer a P2P transaction tool but an investment tool, if you compare it to a stable coin it will not be the same. I assume stable coin is the same as fiat, only its form has changed, and the purpose of its creation is not for investment but for P2P transactions, stable coins are created to meet the needs of people transacting at a stable rate.

I agree with you that bitcoin and stable coins have different usage functions. Because bitcoin is used for investment tools, while stable
coins have the same function as fiat which is used as a payment instrument. Therefore stable coins are not a threat for bitcoin. Instead,
they can walk side by side and benefit from each others. Aside from being a stable coins payment tool, it is used to store profit trading
results, so that the money not affected by volatility. And can be used to buy more bitcoin when prices are low. Stable coins are also used
to attract digital money into cash.

[GideonGono]

By writing threat, I didn't mean issues like tether's issue. I mean, they are not coins, they are just usd and eur.

If you realize that point, then the question is moot.  Bitcoin derives a lot of its popularity from the fact that its value is subject to the free market, meaning that its price moves according to supply and demand.  Stable coins don't do that, and there is never going to be significant interest in them other than using them as a substitute for cash on exchanges.

So no, there isn't a stable coin in existence or one to be yet created that will present a threat to bitcoin, or to any altcoins. 

What if we use bitcoin without these backup stable coins? We may need to learn that we can do without these stable coins, we don't need usd or eur or other traditional money. We should start using directly bitcoin rather than its usd value. For example, an apple may cost some satoshi not cents. Apple's cost depends the traditional way, demand and supply and its price can change in return for satoshis. We should remove usd eur and others, stable or not.

I think by that case, the price of an apple or maybe other product may depend on the value of bitcoin. If the bitcoin was higher or pump then the price of an apple was too expensive? It may affect the economy of the country by using the bitcoin as they use of transaction.

[Ryan Dugan]

A stable coin reminds me of a fiat coin and it really misses the point of crypto since you still tyinf down its value to fiat. A stable coin is just a digital version of say a dollar. Bitcoin is a whole new story and has its own economy. We only compare bitcoin to USD because it is all we know so far. It is all we have to compare it and the closest measure of value we can find. Stable coin is as much a threat to bitcoin as fiat is.

[STT]

Threat for Bitcoin?

Nothing is a threat for Bitcoin except itself ultimately.    A poor craftsman blames his tools, blames his competitors, blames the materials perhaps but its just going to be that BTC survives on its own two legs not by the blame or benefit of what opposes it.
    The main deal as I see it is every economy will attempt to destroy itself, I forget what they call it maybe creative destruction but you get the basic idea that every kind of money has some corrupt forces accidental and malicious that will always be present.   Thats the greatest threat for BTC going forward not a stable coin.
   Stable coin is basically a centralised entity, we might as well blame FIAT itself being too much of an alternative to Bitcoin.    I dont take the excuse, if Bitcoin doesnt have enough utility to it then it'll decline and not continue and it is the captain of its own destiny.

[Leyss]

Of course, there are no threats to the existence of bitcoin from stable coins, but stable coins, in my opinion, have a definite negative and positive impact on bitcoin.
Stable coins attract the attention of new people, which will inevitably increase the popularity of the entire decentralized cryptocurrency. However, stable coins play the role of a means of payment, they are more convenient in calculations than bitcoin, and therefore some people will use stable coins instead of bitcoin as a means of payment.

[TinaK]

Not only stablecoins all the centralised cryptocurrencies are really thread for the decentralized market. They were trying to the other cryptocurrency leads into banking investment and push them away from the decentralized community.
everyone try to give the maximum support to the decentralize market and the cryptocurrencies relay on that. We may use centralised kryptos only to exchange it as Fiat.

[crossabdd]

By writing threat, I didn't mean issues like tether's issue. I mean, they are not coins, they are just usd and eur.

If you realize that point, then the question is moot.  Bitcoin derives a lot of its popularity from the fact that its value is subject to the free market, meaning that its price moves according to supply and demand.  Stable coins don't do that, and there is never going to be significant interest in them other than using them as a substitute for cash on exchanges.

So no, there isn't a stable coin in existence or one to be yet created that will present a threat to bitcoin, or to any altcoins. 

What if we use bitcoin without these backup stable coins? We may need to learn that we can do without these stable coins, we don't need usd or eur or other traditional money. We should start using directly bitcoin rather than its usd value. For example, an apple may cost some satoshi not cents. Apple's cost depends the traditional way, demand and supply and its price can change in return for satoshis. We should remove usd eur and others, stable or not.

it is not easy to do that, because there are many differences between USD / EUR (fiat currency) and Bitcoin. all goods in the country have been managed by the state. including currency. the government must know all financial transactions. where the money comes in, and where it will come out. and what it is used for. while bitcoin, the government can't control that. basic bitcoin is privacy, anonymous, without a middle man. and free. so both are needed to keep transactions safe.