JessicaVL (OP)
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January 20, 2020, 07:38:36 AM |
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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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networks like Napster, but pure P2P networks like Gnutella and Tor seem
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Captain Corporate
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January 20, 2020, 09:16:09 AM |
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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.
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nutriagrigia
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January 20, 2020, 01:02:45 PM |
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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
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alyssa85
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January 20, 2020, 01:05:39 PM |
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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.
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desticy
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January 20, 2020, 01:07:02 PM |
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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.
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Little Mouse
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January 20, 2020, 01:10:30 PM |
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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.
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mobilestrike
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January 20, 2020, 01:11:39 PM |
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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. |
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target
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January 20, 2020, 01:23:00 PM |
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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. |
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Eternad
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January 20, 2020, 01:31:05 PM |
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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.
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Dickiy
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January 20, 2020, 01:49:39 PM |
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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
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Tash
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January 20, 2020, 02:01:55 PM |
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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.
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rizkyalhabsy
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January 20, 2020, 02:02:40 PM |
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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.
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LbtalkL
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January 20, 2020, 02:21:05 PM |
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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.
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bitkanu
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January 20, 2020, 02:24:35 PM |
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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 .
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sheenshane
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January 20, 2020, 02:49:39 PM |
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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. |
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airdnasxela
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January 20, 2020, 02:56:12 PM |
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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. |
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tsaroz
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January 20, 2020, 02:58:59 PM |
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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.
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aomakun
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January 20, 2020, 03:06:34 PM |
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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.
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Xardasim
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January 20, 2020, 07:27:28 PM |
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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. |
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bttmember
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January 20, 2020, 09:43:03 PM |
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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.
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