Can Stablecoins Promote the Mass Adoption of Cryptocurrencies?

[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. 

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[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.