Will stablecoins be the future of cryptocurrency?

[dingo25]

There is no difference between stable coin and the fiat currency, they both are centralized and they both can create currency our of thin air. So, I wouldn't call stablecoin as the future of cryptocurrency. They are only another form of fiat and no more use of them. No crypto enthusiast would be interested in stablecoin ever because of their cebtralized nature.

If you have a shop and you want to add crypto as payment what coins would you use? I think 99% of shops would go with stablecoins operated by blockchain technology. Dash and Polis both are trying to be the future of payments and they will succeed only if they are backed by a stablecoin. Most likely that's the reason PolisPay added stablecoins to help with the payments.

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[cytpoway121]

Everyday more and more payment providers accept stablecoins like USDT and USDC as payment. Will they be the future of crypto?

Yesterday PolisPay just added 3 stablecoins as payment for the first time.

https://twitter.com/PolisPayApp/status/1247319714130546689

I believe stable coins are good, rewarding and ensures that nothing happens to your stored funds just like fiat, but can it realy be the future of crypto currency ?
Firms/ agencies that i am aware of, prefer to accept bitcoin as a mode of payment because of its tendencies to soar and get increased in price and value.

With bitcoin atms around the corner, and fiat - crypto option via binance now in over 15 countries, i believe the best is yet to come.

[Japinat]

Bitcoin will be the future of crypto, without bitcoin crypto would not exist, so we owe that to the king.
Stable coins will just be part of the market as not all people are risk takers, some want to make their money safe and traders uses those stable coins when they are trading, so it's normal that there's a huge volume of transactions for stablecoins, and other purposes as well.

[ethereumhunter]

It could be possible, but that will depend on people who choose stable coins as the main crypto payment in the merchant, and the government agree with that. Without agreement from the government, the stable coins and the other cryptocurrency cannot be the payment method, and we cannot force people to use crypto as an alternative payment solution. But with the crisis that is happening in all country, the possibility to use crypto will be open, but still, we don't know if stable coins or other or both that will be used.

[xSkylarx]

Stablecoins are good for crypto but I don't think that it is the future of crypto currencies.
They are good for crypto adaptation but for me it is their only use for now for crypto to be accepted as a payment method for some companies and they are good to invest in when the crypto is crashing down.

[Febo]

Will stablecoins be the future of cryptocurrency?

Nope the future of crypto currencies will be coins like Bitcoin or Monero. Fulfilling the best block chain use case. A plain boring money.

[Samayuki]

The future of crypto is Bitcoin and privacy coins, all together the future belongs to volatile coins not stable coins, I won't invest if I can't make gains from them either

[Samayuki]

Stablecoins are good for crypto but I don't think that it is the future of crypto currencies.
They are good for crypto adaptation but for me it is their only use for now for crypto to be accepted as a payment method for some companies and they are good to invest in when the crypto is crashing down.

Stable coins are very useful and without them it will be extremely hard for crypto traders, if there is nothing to use as safe guard in crypto space it won't be good at all, look at BUSD from binance, the stable coin sees huge adoption since release, I'm so impressed

[srcarreira]

its yes because it is also a digital currency with a potential to minimize the volatility as a safebox of cryptocurrency which is commonly known as pegged, due to COVID-19 I think many investors also dive into stable coins use for digital payment for their daily needs.

However they do centralize funds in most of the cases so its not that all good about stablecoins.
I hope they could be better in the nearest future, and would be lovely if one great stablecoin would have an easy cheap way to pay with it through physical card.

[Bitcoinislife09]

I like them because there a good way to hold coins in crazy times for example in the crazy crash that happened due to the corona virus recently..
I converted all my bitcoin to tether and It saved me thousands of dollars

Stablecoin was just kind of a normal altcoin in my opinion it has a great potential in the market price but I don't think it was profitable for long term, in the other hand having a strategy in selling altcoins or bitcoin might get you a few profit.

I think bitcoin will be the future of cryptocurrency. Bitcoin is the most famous coin in the cryptocurrency. Many people are already using bitcoin and many people are supporting it. Because in bitcoin someone can gain and earn so much money. Someone can make their time and effort productive because of bitcoin. Someone can be very productive in their own way and in their desired time. These are all because of the most famous coin in the cryptocurrency, the bitcoin. You may have much money which you may use in paying your bills.

[VDraci]

It's certain that stable coins will always be in existence side by side with coins like Bitcoin and other very good altcoins in crypto space, most especially traders, they can't do without these stable coins, watching coins charts on coinmarketcap you can easily notice that stable coins aren't lacking behind it's because of their usefulness

[VDraci]

I think what OP is referring to is Central bank stable coins, like each countries coins that will back their Fiat, hmm yes they will be useful for those who like digital payments, some might even find these stable coins as the best safer option since it's from CB but people want life changing opportunity, this is where coins like Bitcoin will always comes first

[omone1]

Stablecoins play an important role in Cryptocurrency trading, without which it would have been more of a war zone in a very volatile market. There is no problem for payment system accepting a stable coin so as to mitigate or escape the volatility with cryptocurrency but they don't get to gain from the profit in a bull run.

[isaac_clarke22]

We can't speculate in terms of utilization yet OP.
Although traders practically use USDT mostly in storing their profit from their trades to stabilize it rather than hodling it in another currency to avoid losses from volatility.
I see it being a stable payment system over Bitcoin, but I don't think Bitcoin will stay volatile for a long time so we never know just yet.

[TheGreatPython]

Stable coins might gain adoption, but Bitcoin will always remain at the top and gain more adoption than every other cryptocurrencies.

Libra coin by Facebook would have been a worthy competition, and that’s only because Facebook is already a big platform and they will promote their coin to their users who will quickly adopt it, and plus they had big partners such as PayPal, eBay, and so many of them, but since it’s not a successful project, I don’t see any other coin that will be able to compete with Bitcoin as of right now. It will be leading while others keep following, none of them is crossing that line.

[jahepahit]

because the price of the real value of usdt goes up, people are very fond of this coin. we all know that people now need cash for their needs during the lockdown period is not over. because for the people now, safety is the most important thing, so the public demand for usdt is very high

[gundala]

Stablecoins are good for crypto but I don't think that it is the future of crypto currencies.
They are good for crypto adaptation but for me it is their only use for now for crypto to be accepted as a payment method for some companies and they are good to invest in when the crypto is crashing down.

Thats true.
Alternative payment by cryptocurrency is effective if we use stable coins, low volatility and the price tends to be constant. However, as most members above explained, this is no different from using fiat payments, just different forms and methods. Whereas the principle of cryptocurrency is generally, with high volatility, high-risk investments, stable coins are not included.

[Shallow]

Everyday more and more payment providers accept stablecoins like USDT and USDC as payment. Will they be the future of crypto?

Yesterday PolisPay just added 3 stablecoins as payment for the first time.

https://twitter.com/PolisPayApp/status/1247319714130546689

In as much as this is true, but a question still remains, is it better to hold or invest in something which is stable or that which appreciate in value? I believe most people if not all will go the one that appreciates in value.  This is just the difference between stablecoins and other coins. Just imagine Bitcoin is showing signs of uptrend, many who are in stablecoins won't hesitate to convert to BTC after which they can still move back to USDT etc, if they want. Therefore in my opinion, stablecoins are just doing that which they are created for and with its restricted growth reduces its chance of being the future of cryptocurrencies. On the other hand, coin like Bitcoin is highly seen as the future of cryptocurrencies because of its value and potentials.

[coolcoinz]

Stablecoins aren't giving us anything new or better than cryptocurrencies. They are only used by people who want to go around fiat exchange laws in their countries and/or not go through full KYC, as exchanging into a stable coin is like doing a crypto-crypto transaction that gives you a feeling of escaping into fiat. In reality, you are not really getting fiat and you are not escaping volatility as you're exchanging a real useful coin like BTC into a coin that mimmics fiat stability, but at the cost of centralization and lack of privacy.

[mr.robot8]

I really like stable coins you can make good profits by putting them in stakes and with this crisis for the virus they are an excellent safe haven alternative to cash / fiat