Can Stablecoins Promote the Mass Adoption of Cryptocurrencies?

[JessicaVL]

Stablecoins have existed in the cryptocurrency space for a few years, but only gained prominence in the last year or so. Stablecoins are cryptocurrencies that are backed by other assets or benchmarks, such as the US Dollar, and, as the name suggests, they are stable in nature — or are at least intended to be so. Bitcoin is known for its volatility and that has led some people to believe that, while it is a good store of value, it may not be the most convenient form of payment. Stablecoins that gained a lot of popularity, thanks to Tether’s USDT, are now flooding the cryptocurrency market. There are over one hundred different stablecoin projects that exist in the market today with several more still to be launched in the coming year. Cryptocurrencies are gaining traction not only from retail investors, but also from institutional investors, which makes it the most apposite time to discuss their role in mass adoption.

Read more here: https://www.etoro.com/blog/market-insights/what-role-will-stablecoins-play-in-crypto-mass-adoption/

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[Captain Corporate]

 I think there needs to be some sort of connection between stablecoins to crypto currency like now but also some sort of connection with stablecoins to regular fiat as well to improve the mass adoption. Just to give an example right now you can (or maybe even can't) exchange USDT to dollars on your bank account, thats a bit rough on the edges. However if Libra happened, you could put money from your bank account to facebook and use libra, get crypto if you want, basically do whatever you can, and reverse it by getting libra back and withdrawing to your bank account. We need a stablecoin that has connections with banks so we could make it easier. THAT would make adoption mass and very fast as well.

[nutriagrigia]

You must understand that stablecoins are not cryptocurrencies. this is the same as ordinary electronic money, only it does not belong to large banks but to some private campaigns. I see no reason to trust such currencies and they certainly will not be able to help the cryptocurrency market become more interesting for people. I use stablecoins only for trading

[alyssa85]

The answer is No.

As we've seen with Libra - claiming a peg to fiat brings in the regulators connected with that fiat. They will want to see audits of reserves. And the Americans in particular hate people pretending that their coin is really the US dollar. really annoys them and they always move to shut such coins down.

I wouldn't be surprised if stablecoins disappeared in the next few years.

[desticy]

I doubt it. Stable coins are a digital counterpart to conventional fiat currencies. They are convenient to use as an analog and no more.
Altcoin is interesting to people precisely because of their opportunity to earn money, they are interesting as an asset and have opposite properties compared to stable coins. So my answer is no.

[Little Mouse]

Stablescoin has no value in real crypto world because this coins are created out of nothing. Stable coins are centralized and it will never be accepted. People use this coin for liquidity but this coin are very much risky for long term holding. In long term, this coin may not have a value because of its centralized nature.

[mobilestrike]

The answer is No.

As we've seen with Libra - claiming a peg to fiat brings in the regulators connected with that fiat. They will want to see audits of reserves. And the Americans in particular hate people pretending that their coin is really the US dollar. really annoys them and they always move to shut such coins down.

I wouldn't be surprised if stablecoins disappeared in the next few years.

But I was thinking about libre that it will be more important for the bitcoin mass adoption because I believe that stablecoins are also created on blockchain technology so listed o crypto exchanges, the users of Libra will join these crypto exchanges and they all there will know that bitcoin is the king of the crypto community so they all will invest their money in bitcoin.

[target]

You must understand that stablecoins are not cryptocurrencies. this is the same as ordinary electronic money, only it does not belong to large banks but to some private campaigns. I see no reason to trust such currencies and they certainly will not be able to help the cryptocurrency market become more interesting for people. I use stablecoins only for trading

There isn't much option for traders but to trust stablecoin because its just the way to protect their money. To safeguard the money, is just to hedge it to USD pegged coins. Youdon't normally buy altcoin which price will also depreciates because people also dumped it. You wouldn't be worrying whatever they'd do or what will happen to the market if you hold stablecoins.

[Eternad]

This can give some insights that cryptocurrency exist in a different way how stable coins perform. There is an option depending on how much risk they are able to take. A lesser risk or the risky one. And stable coins can be use as parking area when we need to think and rest in cryptocurrency volatility.

[Dickiy]

if a stable coin adopts cryptocurrency in a mass then this will be the back of investment because stable coins maintain prices according to the original currency in the country and to my knowledge the company cannot issue a stable coin

[Tash]

Why on earth anyone not trading be in anyway interest in a stablecoin and lose 2%  (inflation) or more in value per year.
Zero benefit and only hassle or worse total loss when exchange do a runner with peoples money.
Why would anyone sent a passport copy to some entity somewhere in the world to be able to transfer money pay fees then pay fees again when transferring back and getting less money back (fees) as initially send. Mass of humanity is not that stupid.

[rizkyalhabsy]

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

[LbtalkL]

I don't think so, so many stablecoins are created from year 2017 until now. It seems like they are printing free money out of nowhere. I know stablecoin is useful on trading to preserve and maintain the value of your funds but it can be use to manipulate a certain assets too, previously USDT has been accused and behind the manipulation of bitcoin price I dont know if its real or not.

[bitkanu]

It has already called as a coin and remember the stable coin will always try to use the blockchain as the core system to be operated. The fact that the stable coin can bring more awareness to the ordinary people. Remember about facebook coin which has been giving a lot of awareness to the ordinary people even if that is not yet launched.
But sometimes a small scale of stable coin can't promote the mass adoption to attract more users as it's rarely to be mentioned to the news or article that published by mainstream media. I just take the main point should be the company behind the stable coin project that can bring massive adoption. Remember media will try to catch any news from the big company as a hot news .

[sheenshane]

Stablescoin has no value in real crypto world because this coins are created out of nothing.

I think you are wrong here, a stable coin probably can be pegged to a fiat currency like the US dollar. It is viable monies that provide the real means of payment and a store op value which is conventional to cryptocurrencies like Bitcoin and other altcoins. I dont agree that stable coins were created for nothing, they are very useful in trading to control your losses during the high volatility of bitcoin.

Since stable coin support dollar rate and it is 1:1 value, this is very useful for traders to store value, it is also achieving their price stability via collateralization of selling and buying value. Stablecoins are also part of cryptocurrency and they dont have nothing to do in promoting mass adoption.

[airdnasxela]

This can give some insights that cryptocurrency exist in a different way how stable coins perform. There is an option depending on how much risk they are able to take. A lesser risk or the risky one. And stable coins can be use as parking area when we need to think and rest in cryptocurrency volatility.

Absolutely. Stablecoins is still different however it can be a passage to bring people to cryptocurrency. Starting with stablecoin, they can gain knowledge there while they are still learning the environment. Not everyone is capable of adopting that fast with volatility. So I think stablecoin is a good start for those who are afraid of volatility and risk before going to the real thing in crypto. It can still bring an impact to the adoption of cryptocurrency.

[tsaroz]

One of the reason why people are not easy with using cryptocurrencies is the price volatility. With the introduction of stable crypto coin, people now can easily use crypto for day to day trade and buying and selling of goods and services. Though bitcoin too is widely accepted as a payment, it's not an ideal payment coin.

[aomakun]

maybe if you think about it realistically then Stablecoin could be one of the best digital currencies for this industry that is used by people, because the stable price makes me speculate about the mass adoption of crypto from Stablecoin. but for bitcoin and other decentralized altcoins it might just be a place for special transactions.

[Xardasim]

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

I think so.  Stablecoins are a coin far from the cryptocurrency rules. They cannot represent this market. They're not much different from digital money. Bitcoin is the most worthy representative in this regard: the founder of the market and the strongest coin.

[bttmember]

I think yes and especially when a stablecoin will be launched by any big country or a big organization like fb etc that will definitely be the driving factor for the market to boom, not only it will increase the trust factor but also it will make it easy to invest in real crypto, so market will boom with ever increasing demand of cryptos due to surge of new people and money in the market.

[perla]

I think yes, there are actually nothing wrong with stablecoin. And for adoption or maybe make people know about cryptocurrencies, we must make good approach to make it success. Which bad is make people know about cryptocurrency with something that they must invest like "bad" people always do.

[SlimShadyMmp]

lets just say one of these coins get a way of direct conversion to actual currencies not only dollars but support even local ones By that am sure you will have mass adoption of the coins and crypto but the issue here is getting the licence might not be that simple or just outright impossible so basically that will take some development and time

[magneto]

It's very unlikely.

Stablecoins can help institutions as well as traders in terms of hedging their bets, but at the end of the day, it doesn't necessarily promote decentralized cryptocurrencies to the extent that people seem to make it to be.

After all, that's not what fundamentally motivates people to adopt crypto. The intrinsic value of crypto comes from being a long term store of value, as well as a means of payment without substantial fees associated with it that can be used across the world. Stablecoins do not necessarily tackle either of these issues.

[X-ray]

One of the reason why people are not easy with using cryptocurrencies is the price volatility. With the introduction of stable crypto coin, people now can easily use crypto for day to day trade and buying and selling of goods and services. Though bitcoin too is widely accepted as a payment, it's not an ideal payment coin.

Volatility is not a problem anymore really. Maybe there are chances of our crypto to decrease in value if we hold it for long but with the presence of payment processing gateway like what coinbase and many more offer the volatility is not a thing anymore because they convert the crypto to fiat or stablecoin. Most of people are also using this method and implementing it to their store.

[CjMapope]

Stablecoins have existed in the cryptocurrency space for a few years, but only gained prominence in the last year or so. Stablecoins are cryptocurrencies that are backed by other assets or benchmarks, such as the US Dollar, and, as the name suggests, they are stable in nature — or are at least intended to be so. Bitcoin is known for its volatility and that has led some people to believe that, while it is a good store of value, it may not be the most convenient form of payment. Stablecoins that gained a lot of popularity, thanks to Tether’s USDT, are now flooding the cryptocurrency market. There are over one hundred different stablecoin projects that exist in the market today with several more still to be launched in the coming year. Cryptocurrencies are gaining traction not only from retail investors, but also from institutional investors, which makes it the most apposite time to discuss their role in mass adoption.

Read more here: https://www.etoro.com/blog/market-insights/what-role-will-stablecoins-play-in-crypto-mass-adoption/

Etoro! theres an old classic site haha
i DO believe stablecoins are pretty sweet, but sadly they have been a fav for scammers and thieves in this space : /
meaning alot of people and govs have a sour taste for them already..
Therefore i dont believe they will have much of a place in mass adoption, it will be something like ETHs PoS imo that does it

[gundala]

Can be. If the expected mass adoption is cryptocurrency functionality for daily activities, paying electricity bills, to paying coffee. If that is expected, stable coins play an important role here because stable prices are more profitable to be labeled as prices of products and services. At this time it might not be the maximum, but if Libra with the support of Facebook which has many users around the world might be able to open a new page for the next step in the cryptocurrency world.

[inoes]

there are many stable coins that already exist such as usdt, BITUSD, SPANDEX.HKD, STABLE.PHP, BEI, PHX and many others. I think that stable coins can be adopted en masse, by making each stable coin represent one country's currency. then it will become a world wide adoption

[thottum]

I don't think the stable coin as itself will increase the cryptocurrency adoption maybe for that to happen the process should be easy to convert fiat in their bank account to stable coin and vice versa right now it's not that easy. But I think the stable coins can be used for the merchant adoption of cryptocurrency if we buy a product through cryptos the merchant is exposed to volatility risk as cryptos are more volatile so they can opt to convert the payment received to the stable coin before the cashout.

Agree with your view as the stable coins are just one factor for the adoption but not the major one so there are lot of other factors that are to be considered for the cryptocurrency adoption. The major use of stable coins is to hedge their portfolio against the downtrend by parking the money on it.

[mrdeposit]

Can Stablecoins Promote the Mass Adoption of Cryptocurrencies?

In any case, they will help in terms of adoption, but not as much as the others. Would not it be more efficient if "normal" crypto was used instead? Stablecoins are the digital face of usd or gold. Even stablecoins themselves are backed up by valuable assets in the world. While crypto was created to get away from these assets, but stablecoins are the only assets that bring them closer to us.In any case, they will help in terms of adoption, but not as much as the others. Would not it be more efficient if "normal" crypto was used instead? Stablecoins are the digital face of usd or gold. Even stablecoins themselves are backed up by valuable assets in the world. While crypto was created to get away from these assets, but stablecoins are the only assets that bring them closer to us.

[puremage111]

Well, let me share my opinion here

It could, but its back to how your country current financial system doing
Let me put in this way
The current Fix deposit rate in my country were 3-4% Max, and our currencies are depreciating over time

Thus, excluding lending/loaning the Stablecoins, even the stablecoins itself could hedge the depreciation of my country's currency
Moreover, lending in Stablecoins like USDT/TUSD and more, does provide at least 5% Interest P.A (Which the minimum of it is already higher than the rate of our Fix deposit)
Some even offer up to 8-12% (Depends on how much you lend and who you lend to)

So yeah, it could really promote mass adoption despite most people don't like the idea of stablecoins (including me in the past)
However, we must agree stablecoins does serve it's purpose in the cryptocurrencies industry itself

Converting crypto into fiat and vice versa takes alot of time to do it

[freedomgo]

there are many stable coins that already exist such as usdt, BITUSD, SPANDEX.HKD, STABLE.PHP, BEI, PHX and many others. I think that stable coins can be adopted en masse, by making each stable coin represent one country's currency. then it will become a world wide adoption

Stable coins is like adopting into the current centralized system, but actually it's useful since it has its own blockchain and it's also transparent, however, in terms of adoption, it should not only be focus on stable coins as there's a lot of coins in the market.

[Bezobraznike]

there are many stable coins that already exist such as usdt, BITUSD, SPANDEX.HKD, STABLE.PHP, BEI, PHX and many others. I think that stable coins can be adopted en masse, by making each stable coin represent one country's currency. then it will become a world wide adoption

Stable coins is like adopting into the current centralized system, but actually it's useful since it has its own blockchain and it's also transparent, however, in terms of adoption, it should not only be focus on stable coins as there's a lot of coins in the market.

   It's just easier to start with a stable coin, to buy that first with your credit card and only after to exchange those stable coins
for some crypto-currency. Stable coin is good for traders, if you wish to avoid certain drops and keep your dollar value intact you
can exchange any coin for a stable coin while the bear market lasts.
   As an investment stable coins will remain stable and bond to certain value, that's why they are not the objects of my interest.
I am interested just in long-term investments that can be very profitable in years to come.

[BitDane]

Simple answer: No.. it won't promote Mass adoption of Cryptocurrency.  Stablecoins removed the hyped of volatility, which in the early phase of a adoption attracts investors.  They removed the the possible profit of the incoming investors thus taking their interest away.  Investors are the first explorer of any ventures, removing their profit means shutting them out. 

   It's just easier to start with a stable coin, to buy that first with your credit card and only after to exchange those stable coins
for some crypto-currency.

Why do I need to bother 2 steps when I can make a 1 step moves, it even saves me from extra fees. 

Stable coin is good for traders, if you wish to avoid certain drops and keep your dollar value intact you
can exchange any coin for a stable coin while the bear market lasts.

Doesn't this method incur losses? 

   As an investment stable coins will remain stable and bond to certain value, that's why they are not the objects of my interest.
I am interested just in long-term investments that can be very profitable in years to come.

And this is just an indirect way of saying it won't help in Adoption of cryptocurrency.

[Bezobraznike]

Simple answer: No.. it won't promote Mass adoption of Cryptocurrency.  Stablecoins removed the hyped of volatility, which in the early phase of a adoption attracts investors.  They removed the the possible profit of the incoming investors thus taking their interest away.  Investors are the first explorer of any ventures, removing their profit means shutting them out. 

   It's just easier to start with a stable coin, to buy that first with your credit card and only after to exchange those stable coins
for some crypto-currency.

Why do I need to bother 2 steps when I can make a 1 step moves, it even saves me from extra fees. 

Stable coin is good for traders, if you wish to avoid certain drops and keep your dollar value intact you
can exchange any coin for a stable coin while the bear market lasts.

Doesn't this method incur losses? 

   As an investment stable coins will remain stable and bond to certain value, that's why they are not the objects of my interest.
I am interested just in long-term investments that can be very profitable in years to come.

   

And this is just an indirect way of saying it won't help in Adoption of cryptocurrency.

   BitDane I don't use stable coins, from my reading I found out that stable coins have the lowest fees. Some
wallets have options for buying stable coin first, which is easier and that to swap it from the wallet. Now there
are many stable coins!
   Trading is a risk! That method can incur losses!
   What I am saying that some people use stable coins. If it's used than it helps in adoption. It can't help more
than some top coin, but it contribute to crypto-eco-system.

[BitDane]

   BitDane I don't use stable coins, from my reading I found out that stable coins have the lowest fees. Some
wallets have options for buying stable coin first, which is easier and that to swap it from the wallet. Now there
are many stable coins!

Isn't those who bought stablecoins already knows about cryptocurrency?  How can they buy it if they don't in the first place.  Especially using you mentioned that a "wallet" have an option for buying stable coin first.  Thus it is an indirect way of saying a person is already involved in a cryptocurrency community and is just finding a way to lessen fee by using stablecoins.

[o48o]

Stablecoins have existed in the cryptocurrency space for a few years, but only gained prominence in the last year or so. Stablecoins are cryptocurrencies that are backed by other assets or benchmarks, such as the US Dollar, and, as the name suggests, they are stable in nature — or are at least intended to be so. Bitcoin is known for its volatility and that has led some people to believe that, while it is a good store of value, it may not be the most convenient form of payment. Stablecoins that gained a lot of popularity, thanks to Tether’s USDT, are now flooding the cryptocurrency market. There are over one hundred different stablecoin projects that exist in the market today with several more still to be launched in the coming year. Cryptocurrencies are gaining traction not only from retail investors, but also from institutional investors, which makes it the most apposite time to discuss their role in mass adoption.

Read more here: https://www.etoro.com/blog/market-insights/what-role-will-stablecoins-play-in-crypto-mass-adoption/

All i can see them to be good for is swing trading against cryptos. There were times when you could avoid regulatory oversight with them, but that i think is long past now. If they aren't already considered as fiat currency by regulators, they will be soon.

[seleme]

Over the hundred stablecoins still in the market but there is no real use case except the 5 top stable coins. The mass adoption can be realized after the full release of Libra projects but I doubt the alternative stable coins will be able to compete with the Libra project. This time everything is different from 2017 when there was a demand by newcomers.

[Doranile432]

Look, if all what crypto is all about is stable coin people won't have much interest in them, yes they can be used by traders but its not life changing like bitcoin and other coins that aren't stable coins, the rise and fall of value is a huge advantage over stable coins

[isaac_clarke22]

I don't think it will.
Common people won't get used to these stablecoins like USDT even if it gets adopted.
It's like that everyone uses credit card as well as debit card in some sense.
We're getting slow adoption of Bitcoin anyway, so I don't think we need to look into the other side anymore.

[travwill]

I think they can. Indeed, if stable coins gain popularity as a type of fiat currency asset only in digital format, this will in any case direct the attention of stable coins users to cryptocurrencies,
because buying them will become an extremely simple task for them. Add to this the crypto market growth spurt, and we get the second full-scale bull run.

[r32godzilla]

I wasn´t a big fan of stablecoins because I didn´t understand it. But now, I can´t imagine the crypto-wrold without them. Thanks to stablecoins you can survive the bearmarket without leaving the crypto-world. You can stake your stable coins on NEXO platform and get interest. You can take a loan and back it with stablecoins. You can easily transfer stablecoins around the world with almost zero fees and with incredible speed comparing to bank transfers. 

[duuuuude]

At least they are moving in this direction. I saw the news that Pornhub launches payments in the stable Tether coin and I think this is a big step forward.

[nicolas1979]

I still don't understand with stable coin because I only see who's behind the project and they only guarantee about supply not the value. If only to promote the answer is " YES " but to make people stay is difficult, crypto already pass the golden moment. Investor will think twice before replace money, market is not helping right now. Promotion and adoption can be doing by anyone who know the system but for powerful position need regulation, only government can do that not us.

[Sassee]

Well, sable coins build on ethereum or btc blockchain can't really attain mass adoption. However if governments and top organization create sable coins, true mass adoption is possible. Libra will be a good example. with the Calibra wallet connected to various social applications used by billions of people mass adoption will happen soon and quick. 

[the rise]

I still don't understand with stable coin because I only see who's behind the project and they only guarantee about supply not the value. If only to promote the answer is " YES " but to make people stay is difficult, crypto already pass the golden moment. Investor will think twice before replace money, market is not helping right now. Promotion and adoption can be doing by anyone who know the system but for powerful position need regulation, only government can do that not us.

regulation for stable coins is still open but for the current trend still coins must come from the government, China is almost implementing them in real terms and their coins are planned to take effect in 2020. For coins like Tether, if adopted for new investors it is indeed difficult because there are no cases in real use, but at least they will learn that it is an important asset that is often used in the crypto world, and will automatically open their minds better.

[naikturun]

Of course, in addition to that Stablecoin can also help people who do daily trading activities or short-term, where they exchange their coins when not trading or waiting for the right time to sell / buy.
I recently also heard that one of the largest adult pornhub sites accept payments using Tether (USDT). I think this will soon begin to do mass adoption.

[FanEagle]

At least they are moving in this direction. I saw the news that Pornhub launches payments in the stable Tether coin and I think this is a big step forward.

That might be possible. Tether is an stable coin and has price equal to the US dollar so starting to accept payments in such coin would not be an difficult task for the firms like pornhub, etc. I think, more firms might also start USDT as a mean of payment on their platform if in the coming future, cryptocurrencies are been considered to enter the main payment streamline. This might be a huge step for cryptocurrencies and hence we can expect a brighter future in these markets.

Pornhub is an global company with a lot of users. They have premium accounts which can now be bought with USDT which would really increase their sale as there are a lot of peoples who like to pay with cryptocurrencies due to the ease of payments.

[jazmuzika217]

Honestly it is hard to talk about adoption and acceptance because all we know that even bitcoin had a acceptance and adoption problem and issue from the start. And I think as of now bitcoin experience that problem. But the advantage of stable is as a new project it is very flexible like tether that can be used even in pornhub. But I hope it will happen because all of us can have benefits.

[BitcoinHunt3r]

Honestly it is hard to talk about adoption and acceptance because all we know that even bitcoin had a acceptance and adoption problem and issue from the start. And I think as of now bitcoin experience that problem. But the advantage of stable is as a new project it is very flexible like tether that can be used even in pornhub. But I hope it will happen because all of us can have benefits.

Maybe at least stablecoin have something that people afraid in bitcoin, volatile. With stable coins, people don't need to be afraid if be seller or buyer so they not afraid to lose when price down. Because with stablecoin, at least price will be stable and it can really be used as payment.

[BitDane]

I think they can. Indeed, if stable coins gain popularity as a type of fiat currency asset only in digital format, this will in any case direct the attention of stable coins users to cryptocurrencies,
because buying them will become an extremely simple task for them. Add to this the crypto market growth spurt, and we get the second full-scale bull run.

That is an "if" situation.  People tends to know stablecoins after knowing about cryptocurrency.  Since people who are into cryptocurrency wanted a less volatile crypto asset then they convert their volatile crypto into a stablecoins.  Then after sometimes people will then convert the stablecoin back to that volatile crypto to get profit.  It is just a tool to preserve the value of cryptocurrency in fiat money, and normal people will just hold fiat money than stablecoin if that is their purpose.  So I still think stablecoin will not promote mass adoption of cryptocurrencies.

[huu78]

Indeed a lot of stable coins that is in the cryptocurrency but everything is not really stable because there are some problems exchange a quiet Buy and sell orders make selling it so hard and far from the stable estimate of the coin. But a good stable coin is also a lot so we can make a solution if the bear market occurs because of the stable price that makes our money remain intact.

[Sadlife]

Well of course can help promote crypto currency this is needed for institutional investors and big companies to not get scared of crypto because it is also some the as fiat but better in many ways.
Stablecoins is proof that you can customize your own crypto currency as you like this will also benefit the adoption of Bitcoin and other altcoins.

[uray]

However if Libra happened, you could put money from your bank account to facebook and use libra, get crypto if you want, basically do whatever you can, and reverse it by getting libra back and withdrawing to your bank account. We need a stablecoin that has connections with banks so we could make it easier. THAT would make adoption mass and very fast as well.

We need a stable coin that can be trusted and for that we need a legal coin with regulation and insurance that it will maintain the valuation, the current stable coins in the market especially USDT cannot be trusted and you never know when the entire market vanishes, they had their fair share of legal troubles in the past and how long they will survive is to be seen.

[red4slash]

Stable coins have the high interest by the crypto investors but there is no concrete reasons why the mass adoption will start with the stable cryptocurrencies. Maybe the latest decision of Pornhub will affect this industry and everything can happen after this.

we really won't know to what extent stable coins will develop, maybe what happened to pornhub is one of the good developments and we have to support it. maybe there will be a time where stable coins will be widely adopted in the settlement of transactions with this technology, I hope other crypto can also be used elsewhere mass.

[TastyChillySauce00]

However if Libra happened, you could put money from your bank account to facebook and use libra, get crypto if you want, basically do whatever you can, and reverse it by getting libra back and withdrawing to your bank account. We need a stablecoin that has connections with banks so we could make it easier. THAT would make adoption mass and very fast as well.

We need a stable coin that can be trusted and for that we need a legal coin with regulation and insurance that it will maintain the valuation, the current stable coins in the market especially USDT cannot be trusted and you never know when the entire market vanishes, they had their fair share of legal troubles in the past and how long they will survive is to be seen.

If the stablecoin is already audited by the authority it could be said that the stablecoin is "safe" although there's news regarding tether that proves the USDT is not entirely backed up by dollar and that what makes me hesitant to trust that stablecoin. Maybe we need to wait until some countries release their stablecoin if we want a really secured centralized crypto for mass adoption.

[cytpoway121]

In my own opinion, i think stable coin will promote whatever adoption they are backed with.

For example, if you look into digital gold stable coin, it is said to be backed by real physical gold, and that if you get gold tokens, you automatically own ample size from the real gold.

The gold stable coin therefore is promoting investing in physical gold,

Stable coin definitely, will ensure that investors keep their funds in fixed price (99% because tether has sold for 0.9$ before)

[CarnagexD]

I think they can. Indeed, if stable coins gain popularity as a type of fiat currency asset only in digital format, this will in any case direct the attention of stable coins users to cryptocurrencies,
because buying them will become an extremely simple task for them. Add to this the crypto market growth spurt, and we get the second full-scale bull run.

But there has to be some form of reliable connection that can connect stablecoins to cryptocurrencies, and cryptocurrencies to fiat. We can't just say that stablecoins in itself can promo the mass adoption of cryptocurrencies without that vital part that would entice people to switch over to cryptocurrencies. But I think that with all of that in the mixture, we have a good chance of spurring a mass adoption of cryptocurrencies

[pawanjain]

Stablecoins have existed in the cryptocurrency space for a few years, but only gained prominence in the last year or so. Stablecoins are cryptocurrencies that are backed by other assets or benchmarks, such as the US Dollar, and, as the name suggests, they are stable in nature — or are at least intended to be so. Bitcoin is known for its volatility and that has led some people to believe that, while it is a good store of value, it may not be the most convenient form of payment. Stablecoins that gained a lot of popularity, thanks to Tether’s USDT, are now flooding the cryptocurrency market. There are over one hundred different stablecoin projects that exist in the market today with several more still to be launched in the coming year. Cryptocurrencies are gaining traction not only from retail investors, but also from institutional investors, which makes it the most apposite time to discuss their role in mass adoption.

Read more here: https://www.etoro.com/blog/market-insights/what-role-will-stablecoins-play-in-crypto-mass-adoption/

I think yes indeed. Stable coins have gained more traction these days and most popular stable coin Libra coin by Facebook gained a lot of popularity.
Libra coin proved that mass adoption can be attained for cryptocurrencies as well.
If only it didn't have to face all those judiciary issues, crypto would have already been globally adopted by now.

[Tash]

Why would a healthy non trading individual get involved with a stablecoin, there is zero reason for it.
Absolutely no benefit, only risk and a lot of hassle.

[Muhammad Muneeb]

Stablecoins have existed in the cryptocurrency space for a few years, but only gained prominence in the last year or so. Stablecoins are cryptocurrencies that are backed by other assets or benchmarks, such as the US Dollar, and, as the name suggests, they are stable in nature — or are at least intended to be so. Bitcoin is known for its volatility and that has led some people to believe that, while it is a good store of value, it may not be the most convenient form of payment. Stablecoins that gained a lot of popularity, thanks to Tether’s USDT, are now flooding the cryptocurrency market. There are over one hundred different stablecoin projects that exist in the market today with several more still to be launched in the coming year. Cryptocurrencies are gaining traction not only from retail investors, but also from institutional investors, which makes it the most apposite time to discuss their role in mass adoption.

Read more here: https://www.etoro.com/blog/market-insights/what-role-will-stablecoins-play-in-crypto-mass-adoption/

Indeed. stablecoins can promote the increase in the adoption of crypto as there will be answer to the price volatility of bitcoin. i did not know about the stablecoins in last bullrun did not sell the tokens now i am in heavy losses.

[Spider A4]

Indeed a lot of stable coins that is in the cryptocurrency but everything is not really stable because there are some problems exchange a quiet Buy and sell orders make selling it so hard and far from the stable estimate of the coin. But a good stable coin is also a lot so we can make a solution if the bear market occurs because of the stable price that makes our money remain intact.

Stable coins indeed need to control daily traders fund. All of those stable coins are real but spreading FUD can happen in any coin. Tether is dumped below 1$ when it’s was huge FUD after printed version coin. USDT experiencing this kinda situation. Recently PornHub industry announcement make me happy to regarding tether gateway. I hope mass adoption will start from this roadmap.                       

[bitvalak]

Stablecoin can be an alternative to mass adoption because stablecoin is always directly related to fiat like USD. This makes it easy for people to be able to buy it.
Just imagine if they can't buy it using Fiat, then everyone is required to buy a rig mining tool whose price is certainly not cheap for some people.

[stephanirain]

Stablecoins have existed in the cryptocurrency space for a few years, but only gained prominence in the last year or so. Stablecoins are cryptocurrencies that are backed by other assets or benchmarks, such as the US Dollar, and, as the name suggests, they are stable in nature — or are at least intended to be so. Bitcoin is known for its volatility and that has led some people to believe that, while it is a good store of value, it may not be the most convenient form of payment. Stablecoins that gained a lot of popularity, thanks to Tether’s USDT, are now flooding the cryptocurrency market. There are over one hundred different stablecoin projects that exist in the market today with several more still to be launched in the coming year. Cryptocurrencies are gaining traction not only from retail investors, but also from institutional investors, which makes it the most apposite time to discuss their role in mass adoption.

Read more here: https://www.etoro.com/blog/market-insights/what-role-will-stablecoins-play-in-crypto-mass-adoption/

For mass adoption to take place, a good advertising and more relevance to the current trends in the market is what this industry needs. The crypto industry is well known for its volatility that is why some people cannot risk their money for it. But mass adoption will give more sense of security since it shows that cryptocurrencies are indeed useful in this era. Hopefully, more crypto, not just stablecoins, will be highlighted for adoption to expand to other markets. 

[fuer44]

there is a possibility. we can see the progress of the usdt which becomes payment at pornhub, if the platform mentions that usdt can be a good option for payment, then it is not impossible that other platforms will also adopt it. in addition, libra which is a coin from the facebook platform might also do the same thing, considering that their platform is also a potential media for marketing and payment using their own crypto is also not impossible in the future.

[wozzek23]

Stablecoins are actually good for those people who do not feel secure with the high volatile coins like btc, etc. Stablecoins does not have much volatile price and hence there is no much risk of excess loss holding in stable coins.

But, what I think is that stablecoins are good for trading pairs or to store our funds in bearish markets but they are not actually good for trading purpose. They might be used in a lot of technical ways like sending or recieving payments so I think they might promote the mass adoption of cryptocurrencies by serving as a mean of payment. Stablecoins would not have higher growth in the market but yet they would be in demand keeping a lot of people in close chain.

[worle1bm]

In order to make stablecoins valuable and ensure that they hold the value equal to USD, it is necessary that equal reserves are maintained in fiat currency. In short, we are locking the supply of fiat currency in order to release the supply of equivalent valuable cryptocurrency. If fiat currency vanishes, value of stablecoin will also decrease to zero.

In order to increase the use of stablecoin, we have to lock more and more fiat currency which doesn't make any sense to me. Only use case of stablecoin should be to provide instant liquidity in crypto market, that's it.

[red4slash]

In order to make stablecoins valuable and ensure that they hold the value equal to USD, it is necessary that equal reserves are maintained in fiat currency. In short, we are locking the supply of fiat currency in order to release the supply of equivalent valuable cryptocurrency. If fiat currency vanishes, value of stablecoin will also decrease to zero.

In order to increase the use of stablecoin, we have to lock more and more fiat currency which doesn't make any sense to me. Only use case of stablecoin should be to provide instant liquidity in crypto market, that's it.

but the level of use of FIAT in the community is still high so it's possible to see lost stablecoin will be difficult. but in the case of its use it is not much different from FIAT but the difference is access, and this is an advantage in my opinion. because its use can cover the world, although access to buying and selling is still minimal.

[btcdie]

Stablecoin has high liquidity because remembering that traders often use this it is easier to use and move between exchanges. Not infrequently also investors who will come out of the average market using stablecoin, until the volume is very large, even beat the volume of bitcoin. But the thing to remember is that Stablecoin is not a true crypto, it's just that it makes it easier for traders and those who don't like high volatility to store value.

[rizkyalhabsy]

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

I think so.  Stablecoins are a coin far from the cryptocurrency rules. They cannot represent this market. They're not much different from digital money. Bitcoin is the most worthy representative in this regard: the founder of the market and the strongest coin.

yes i am, btw about most worthy on this case, is monero , their decentralized blockchain and their privacy is the really imposible for tracking. but the sad news , goverment already block their way.
i dont think monero have a long life for future.

[worle1bm]

In order to make stablecoins valuable and ensure that they hold the value equal to USD, it is necessary that equal reserves are maintained in fiat currency. In short, we are locking the supply of fiat currency in order to release the supply of equivalent valuable cryptocurrency. If fiat currency vanishes, value of stablecoin will also decrease to zero.

In order to increase the use of stablecoin, we have to lock more and more fiat currency which doesn't make any sense to me. Only use case of stablecoin should be to provide instant liquidity in crypto market, that's it.

but the level of use of FIAT in the community is still high so it's possible to see lost stablecoin will be difficult. but in the case of its use it is not much different from FIAT but the difference is access, and this is an advantage in my opinion. because its use can cover the world, although access to buying and selling is still minimal.

We can argue that using stablecoin can promote universal application of same currency but again the problem is that the value of two currencies are relative, not absolute. If we are using USDT then it may have different value for my Euro worth good on one day than the other. This will affect the use of stablecoin across nations. It will be equivalent to using any other cryptocurrency.

[criket]

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

I think so.  Stablecoins are a coin far from the cryptocurrency rules. They cannot represent this market. They're not much different from digital money. Bitcoin is the most worthy representative in this regard: the founder of the market and the strongest coin.

yes i am, btw about most worthy on this case, is monero , their decentralized blockchain and their privacy is the really imposible for tracking. but the sad news , goverment already block their way.
i dont think monero have a long life for future.

I hope monero developers get a way out to survive and continue to grow in the crypto market. this is related to the misuse of monero for crime and of course there will be strict regulations and limit the use of this blockchain.

[tvplus006]

For mass adoption to take place, a good advertising and more relevance to the current trends in the market is what this industry needs. The crypto industry is well known for its volatility that is why some people cannot risk their money for it. But mass adoption will give more sense of security since it shows that cryptocurrencies are indeed useful in this era. Hopefully, more crypto, not just stablecoins, will be highlighted for adoption to expand to other markets. 

If issues with the SEC are resolved positively, all doors will be open for Libra. Facebook, Instagram and WhatsApp can provide this kind of advertising support. And stablecoin Libra will have to fulfill its mission of mass implementation of the crypt in everyday life.

[bgaf]

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

What you mean there is no fun here? Cause the value has no direct movement in the market? You dont get the advantage of stablecoin? These are primarily used for direct peer to peer trading for some countries which is restricted by some third party exchange or company. Imagine there is a a coin that your allowed to trade with other crypto but restricted in your country? How can you handle that?

[electronicash]

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

What you mean there is no fun here? Cause the value has no direct movement in the market? You dont get the advantage of stablecoin? These are primarily used for direct peer to peer trading for some countries which is restricted by some third party exchange or company. Imagine there is a a coin that your allowed to trade with other crypto but restricted in your country? How can you handle that?

the stablecoins own by government will be the one that will promote the mass adoption. but those stablecoins that are meant for traders like the USDT are just going to be used for hedging of the money you got in trading. you wouldn't want to hold you BTC in times of bear market but keeping your coins in tether will best keep your funds in USD.

[posi]

indirectly yes, but it's no more than centralized value, i mean there is no fun anymore.
we bring cryptocurrency to the world , but if everything will be centralized, better still like this.

What you mean there is no fun here? Cause the value has no direct movement in the market? You dont get the advantage of stablecoin? These are primarily used for direct peer to peer trading for some countries which is restricted by some third party exchange or company. Imagine there is a a coin that your allowed to trade with other crypto but restricted in your country? How can you handle that?

the stablecoins own by government will be the one that will promote the mass adoption. but those stablecoins that are meant for traders like the USDT are just going to be used for hedging of the money you got in trading. you wouldn't want to hold you BTC in times of bear market but keeping your coins in tether will best keep your funds in USD.

You're right and wrong because stablecoins will does help to boost mass adoption cause the volatility in nature of crypto make it hard for some people to invest or hold cryptocurrency as an asset.
The reason why i said you wring is because the perspective of some governments is that cryptocurrency is a threat to their national currency so i believe it will all start from the stablecoins not issue by the government.