Can Stablecoins Promote the Mass Adoption of Cryptocurrencies?

[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.                       

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[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.