Will stable coin be the necessary thing in public chain?

[Jennifer1023]

Public chain with 'Bitcoin or ETH'(which price will keep going high) can support its ecosystem business going scale, Clearly the costs to the DAPP developer and the customers is going high along with.

Maybe every public chain without a stable coin will vanish eventually. Any ideas my friend?

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[DooMAD]

The problem is that you generally have to compromise on decentralisation to achieve it.  The arguments in support of "stablecoins" generally hit the same wall as the arguments in support of greater throughput, except that stablecoins hit it right away.  With things like increasing blocksizes, centralisation creeps in gradually over time.  But with stablecoins, right from the offset, there's generally a central entity keeping funds in reserve to (supposedly) back the digital tokens 1:1.  While not everyone would agree, many would argue that's too high a cost to pay just to keep the price steady.

[oleg681010]

In the future, perhaps not, stable coins are rather needed for the transition from fiat to crypto.

[Jennifer1023]

The problem is that you generally have to compromise on decentralisation to achieve it.  The arguments in support of "stablecoins" generally hit the same wall as the arguments in support of greater throughput, except that stablecoins hit it right away.  With things like increasing blocksizes, centralisation creeps in gradually over time.  But with stablecoins, right from the offset, there's generally a central entity keeping funds in reserve to (supposedly) back the digital tokens 1:1.  While not everyone would agree, many would argue that's too high a cost to pay just to keep the price steady.

I have heard some decentralized stable coin solution,and I was convinced by their ideas,check this out:meter.io Glad to hear your opinion.

[Tipstar]

Public chain with 'Bitcoin or ETH'(which price will keep going high) can support its ecosystem business going scale, Clearly the costs to the DAPP developer and the customers is going high along with.

Maybe every public chain without a stable coin will vanish eventually. Any ideas my friend?

They are at least for now. Our economy is totally revolving around fiat that's why the fiat are relatively stabler than crypto. One of the reason why people are not accepting crypto as a currency is due to it's volatility and stable coins could solve that problem to some extent.

[pooya87]

Maybe every public chain without a stable coin will vanish eventually. Any ideas my friend?

there is no relationship between these stable coins and cryptocurrencies. so this question doesn't make much sense to me. the fact that these coins using another chain (like Tether using bitcoin blockchain) doesn't mean the main chain is relying on them!

stable coins are only satisfying a need that exists right now. the need to first transfer money between exchanges without needing banks and second the need for something stable in market that is extremely volatile specially altcoin market.
if some day that purpose could be achieved with banks (like having faster bank transactions with lower fees and little to no KYC) then stable coins would die overnight.

[dothebeats]

I don't think there would be any need for a stable coin in the future if cryptocurrencies are widely accepted as-is on every corner of the world. Currently, stable coins are good for one thing--and perhaps even in their foreseeable existence: a vehicle for easy transfer of funds from exchange A to exchange B. They have no real use-case aside from that, and once bitcoin or any other cryptocurrencies sees widespread adoption, eventually these coins/tokens/whatever will fall and the need for them would disappear.

[imutlinda]

for me maybe a stable coin is needed but its function is always used to hold capital when the market is in bad condition, so I think its current position is quite important because of that. because for me it's better to hold a stable coin when it goes down then buy bitcoin or other altcoin when it has potential to go up

[kryptqnick]

Public chain with 'Bitcoin or ETH'(which price will keep going high) can support its ecosystem business going scale, Clearly the costs to the DAPP developer and the customers is going high along with.

Maybe every public chain without a stable coin will vanish eventually. Any ideas my friend?

This idea seems to presuppose a couple of things. #1 is that Bitcoin's main purpose is being money. While this idea is attractive, we have to take into account that in reality, it's not really the case. Many people keep holding Bitcoin, hoping that one day it will cost way more. Another category lives off the price volatility (traders). I bet these two categories would not consider that only stable coins should survive. #2 is that volatility is the biggest hindrance to Bitcoin adoption by retailers. While it's a big problem, I think that scalability is a bigger one. And then there's another thing a coin loses by being a stable coin (apart from decentralization, because it's been mentioned and you've answered to that), which is resistance to inflation.

[Ucy]

Public chain with 'Bitcoin or ETH'(which price will keep going high) can support its ecosystem business going scale, Clearly the costs to the DAPP developer and the customers is going high along with.

Maybe every public chain without a stable coin will vanish eventually. Any ideas my friend?

Stablecoins serve very useful purposes. They help traders or crypto users escape volatility . They don't necessarily have to be backed by fiat currencies. They can be backed by lots of stable but "decentralized" things.
I think it's important to have stablecoin on Blockchains especially if there are demands for them.
I guess a cryptocoin can be algorithmically controlled to behave more better than stablecoin and typical cryptocoins in the area of price. It could be controlled to move up or down gradually. If this is achieved, stablecoin probably wouldn't be necessary

[mirrasel]

In a word, in the upcoming future, it's not necessary.

[Jennifer1023]

In the future, perhaps not, stable coins are rather needed for the transition from fiat to crypto.

that could be a bigger scenario,but the public chain ecosystem may still need a stable coin to support the ecosystem?

[Jennifer1023]

Maybe every public chain without a stable coin will vanish eventually. Any ideas my friend?

there is no relationship between these stable coins and cryptocurrencies. so this question doesn't make much sense to me. the fact that these coins using another chain (like Tether using bitcoin blockchain) doesn't mean the main chain is relying on them!

stable coins are only satisfying a need that exists right now. the need to first transfer money between exchanges without needing banks and second the need for something stable in market that is extremely volatile specially altcoin market.
if some day that purpose could be achieved with banks (like having faster bank transactions with lower fees and little to no KYC) then stable coins would die overnight.

I think one reason people don't think stable coins related to cryptocurrencies is that most stable coin solution is centralized.But if we have decentralized table coin solution using PoW to produce every stable coin and only with market to balance the stable coins' price and supply.I think that would be a good solution.What do you think of this solution?

[pooya87]

Maybe every public chain without a stable coin will vanish eventually. Any ideas my friend?

there is no relationship between these stable coins and cryptocurrencies. so this question doesn't make much sense to me. the fact that these coins using another chain (like Tether using bitcoin blockchain) doesn't mean the main chain is relying on them!

stable coins are only satisfying a need that exists right now. the need to first transfer money between exchanges without needing banks and second the need for something stable in market that is extremely volatile specially altcoin market.
if some day that purpose could be achieved with banks (like having faster bank transactions with lower fees and little to no KYC) then stable coins would die overnight.

I think one reason people don't think stable coins related to cryptocurrencies is that most stable coin solution is centralized.But if we have decentralized table coin solution using PoW to produce every stable coin and only with market to balance the stable coins' price and supply.I think that would be a good solution.What do you think of this solution?

obviously if someone could come up with the idea for a truly decentralized cryptocurrency with a stable price then it would be a great thing as it would fulfill a big gap in the cryptocurrency market. the problem is that so far nobody has been able to come up with something like that and i don't think it is even possible without centralization. i'll be glad to hear if you have any idea for decentralization of stable coins.

it still has nothing to do with coins like bitcoin depending on stable coins or vanishing without them though.

[gocryptowise]

Of course when going in and out from your more volatile crypto stablecoins makes perfect sense. And during times of high volatility when you are unsure when the crypto might move. And stablecoins will be traded by most popular trading pairs in the future so don't see the need for a specific chain to have its own stablecoin really.

[arimamib]

I always thought that a stable coin was needed because investing in the crypto world would be needed to hold our funds when not investing or  daily trading. so I think stablecoin solves the problem when holding our funds when the market hasn't given potential yet

[Jennifer1023]

Maybe every public chain without a stable coin will vanish eventually. Any ideas my friend?

there is no relationship between these stable coins and cryptocurrencies. so this question doesn't make much sense to me. the fact that these coins using another chain (like Tether using bitcoin blockchain) doesn't mean the main chain is relying on them!

stable coins are only satisfying a need that exists right now. the need to first transfer money between exchanges without needing banks and second the need for something stable in market that is extremely volatile specially altcoin market.
if some day that purpose could be achieved with banks (like having faster bank transactions with lower fees and little to no KYC) then stable coins would die overnight.

I think one reason people don't think stable coins related to cryptocurrencies is that most stable coin solution is centralized.But if we have decentralized table coin solution using PoW to produce every stable coin and only with market to balance the stable coins' price and supply.I think that would be a good solution.What do you think of this solution?

obviously if someone could come up with the idea for a truly decentralized cryptocurrency with a stable price then it would be a great thing as it would fulfill a big gap in the cryptocurrency market. the problem is that so far nobody has been able to come up with something like that and i don't think it is even possible without centralization. i'll be glad to hear if you have any idea for decentralization of stable coins.

it still has nothing to do with coins like bitcoin depending on stable coins or vanishing without them though.

Check this out buddy:meter.io, and tell me what do you think about this object,Want to discuss if this is a good solution

[Jennifer1023]

for me maybe a stable coin is needed but its function is always used to hold capital when the market is in bad condition, so I think its current position is quite important because of that. because for me it's better to hold a stable coin when it goes down then buy bitcoin or other altcoin when it has potential to go up

Yeah,Exactly

[Jennifer1023]

I always thought that a stable coin was needed because investing in the crypto world would be needed to hold our funds when not investing or  daily trading. so I think stablecoin solves the problem when holding our funds when the market hasn't given potential yet

But may the USDT can fit this need in this purpose?

[Jennifer1023]

Public chain with 'Bitcoin or ETH'(which price will keep going high) can support its ecosystem business going scale, Clearly the costs to the DAPP developer and the customers is going high along with.

Maybe every public chain without a stable coin will vanish eventually. Any ideas my friend?

They are at least for now. Our economy is totally revolving around fiat that's why the fiat are relatively stabler than crypto. One of the reason why people are not accepting crypto as a currency is due to it's volatility and stable coins could solve that problem to some extent.

Yes,The purchasing power which the crypto represents matters