Stable Coins are a Threat for Bitcoin?

[micalith]

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.

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[Pearls Before Swine]

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. 

[micalith]

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.

[serjent05]

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 that these stable coins is a threat to Bitcoin.  They have the deflationary tendency just like USD and EUR that is  where Bitcoin is proven superior.  Any advantage of Bitcoin against inflationary currency will be the same advantage it will have to all stable currency pegged to USD oe EUR.

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.

We already use Bitcoin as it is, items are priced in Bitcoin with equivalent of USD price of the item, or usd converted to Bitcoin amount.  We cannot remove this USD, EUR or any fiat currency pricing because it is the known universal unit of price of an item.

[BrewMaster]

they are all centralized and highly risky, there is no threat in that for a decentralized bitcoin like bitcoin. specially from dozens of them that keep popping up like mushrooms these days.
the only thing that could only cause a short term drama and that only in price of bitcoin is tether and that is only because it is oldest and biggest otherwise they have nothing to do with bitcoin.

[CryptoBry]

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.

Right now, we are not seeing stablecoins as threats to the dominance of Bitcoin. In fact, I read weeks ago an article which stated that Libra as a stablecoin can in fact be helping Bitcoin be more valuable. Well, I am hoping that it can be that case if we find Libra will be operational already after battling it out with many opposing regulators and politicians. A week ago, there was this another article which posited the idea that  a certain stablecoin actually propped up the value of Bitcoin. In trading, we know that there seems to have a mutual relationship between stablecoins and Bitcoin. However, stablecoins are considered to be threats to the global economy, says some regulators and this has become the basis for their strong stance against Libra.

[avikz]

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.

Can you give me a valid reason for these stable coins becoming a threat to the crypto economy? I don't think so! These stable coins are made for good reasons! it helps immensely in trading, especially the day traders are benefited the most from it. It is an arguable statement, if these are coins or not! But they are definitely a digital representation of fiat currencies like USD or EUR. It certainly helps protect your capital during a bearing market. I personally don't think they are any threat to the crypto economy rather it helps in growing the crypto economy by allowing the traders to have a straight forward calculation and faster execution!

[mk4]

I definitely don't see them as a threat. If anything, these stablecoins are just fiat that are easily tradable through exchanges. Sure, they're stable in value. But isn't one of the reasons bitcoin was created is for us to have something that's deflationary? In contrast to fiat stablecoins that has values that are still controlled by the fed. Don't get me wrong; stablecoins are definitely useful; but I won't hold them for more than a few months.

[Eugenar]

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 so, because stable coins are a possible conversion of the USD and EUR at the same time, and in that case, once these coins are being converted, people can easily buy bitcoins and other coins as well. Being a threat to bitcoin isn't much likely to happen, as we know how capable they are in saving investors and traders from being eaten up by the falling market trend.

[Murat]

Stable coins are not a threat to bitcoin. These stable coins were created because the price of bitcoin is not stable. So investor can move to stable coins when market becomes riskier. The situation right now is a suitable time to move on to a stable coin. We don't know which way the price will go so investors who don't want to gamble and want to be safe with their investment can move to a trusted stable coin like USDC or TUSD(I don't recommend USDT). Even sometimes when you work online and get paid in Bitcoin things can be unusual when the price of bitcoin moves too much. I get paid last month in BTC but the price went down $2000 in a few weeks So Stable coin solve this problem as well. A stable coin is helping people who work on crypto space and is using crypto regularly & is not a threat to bitcoin in any way.

[LUCKMCFLY]

I think not, because stablecoins are currencies that are backed in some way by fiat currencies, some by the dollar, others by dollar, euro, I think that for Bitcoin it would not be any threat, I see it as an opportunity for people to finish adopting bitcoin, recently what I think that if they can bring consequences is for some countries that may endanger their local economies, such is the case of China with Libra, because they know that Libra will not be present in the Chinese Yuan but if the US dollar, thus representing a dominion over them, particularly over the United States also represents a type of threat to its economy.

 The case of Libra seems interesting because it would reach all parts of the world through Facebook and in every corner of the world most people have an account there, when they begin to know that through that Stablecoin they can skip dollar bans. Euro, among others, will use the stablecoin to then change it to Bitcoin, the fact is simple, bitcoin represents money, a money that can inflate at any time to triple, although it may fall, it represents a deflationary economy.

[YuginKadoya]

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.

If you think that Stable coins will be a threat in the future then stop using it as a way to avoid the volatility of Bitcoin, Eventually, this type of coins may become a threat if people are always using it, And maybe you are right that these Stable coins are just mere USD and Euro but they are here cloaking and disguising themselves as cryptocurrencies and many investors and traders that didn't know are then thinking that these stable coins are like decentralized ones its crucial to the market because some people are trusting it,

But I don't think this could be a threat to the market of Bitcoin or becoming the top in the crypto world.

[noormcs5]

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.

Stable coins have zero threat to the bitcoins. Coin is stable only if is artificially controlled by a central body and hence stable coins are centralized ones. You should not compare the centralized coins with decentralized ones. Tether has already big issues associated with it and i do not understand why people still keep their money in tether.

[micalith]

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.

Can you give me a valid reason for these stable coins becoming a threat to the crypto economy? I don't think so! These stable coins are made for good reasons! it helps immensely in trading, especially the day traders are benefited the most from it. It is an arguable statement, if these are coins or not! But they are definitely a digital representation of fiat currencies like USD or EUR. It certainly helps protect your capital during a bearing market. I personally don't think they are any threat to the crypto economy rather it helps in growing the crypto economy by allowing the traders to have a straight forward calculation and faster execution!

One of the reason we use bitcoin is because it is fast and cheap, well, there are other altcoins cheaper and faster surely. Stable coins provide fast and low fee transactions too. On the other hand, daily total max volume is not on bitcoin, it is with tether.

[electronicash]

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.

that might not be possible. the only way it could happen is if we trade items base on the intrinsic (BTC) value i'm asking for the apple you wanna buy.  but since we can always agree on the market price we can just do it base on USD which acceptable for all. there will be no haggling when we do it this way. its never a threat but its best to just trade with stablecoins,  most of us use it for that purpose.

[royalfestus]

Stable coins could see more ETF approval in the future than the volatile coin. We could see more stable but the strategy of profit making could different for investor, maybe through staking etc. After such a long bear market, Investors with low risk capacity but want to benefit from the space might need a stable coin with a use case that drive volume trade. An annual profit of 20% could be enough for staking for long term investors in stable coin. We need to reduce volatile coins in the market.

[micalith]

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.

Stable coins have zero threat to the bitcoins. Coin is stable only if is artificially controlled by a central body and hence stable coins are centralized ones. You should not compare the centralized coins with decentralized ones. Tether has already big issues associated with it and i do not understand why people still keep their money in tether.

Well, actually, I wasn't mentioning tether is an issue but for Bitcoin, it is a threat and we have seen it. We may have new tether examples in the future with other stable coins. This is another part of the threat.

[hatshepsut93]

They are not a threat because they are different from Bitcoin, hence they will attract different audience. Bitcoin is for people who don't trust centralized organizations like banks and payment companies, stablecoins are for people who don't understand how crypto works or for some reason trust the companies behind the stablecoins. I don't care if stablecoins will take some users from Bitcoin, that would mean that those users weren't good bitcoiners in the first place, and probably wouldn't have stuck for long anyway.

[Emmycool]

in my own opinon i think the stable coin pose as a little threat to bitcoin BTC

http://thanks

[Kyraishi]

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.

This is great topic that's pretty on par with the recent G7 article that was released? I'm assuming that is what prompted this thread - right?

I believe comparing stablecoins and Bitcoin is basically comparing apples and oranges. They both have different functions and are used for different things. The only correlation they might have is when Bitcoin investors want a safer option and therefore convert their funds to USDT or other stablecoins to hold the fiat value of those coins.

Otherwise, it doesn't really impact the market and won't change Bitcoin - completely different things here.