Will stablecoins be the future of cryptocurrency?

[StephenJH]

In my humble estimation stable coins are so useful for everyone, that is why if there is some crisis like Corona, stable coins can save your money from the crisis. l mean if you realize that there is some problem, you can convert your money to stable coins and just can relax. It will save you thousands of dollars. But it doesn't mean stable coins will be the future of cryptocurrency. Maybe BTC and other altcoins can be the future of cryptocurrency like ETH, XRP, BNB, etc. But absolutely not stable coins.

[tanjiran]

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For payment system, stable coin is really better since it's not volatile, no everyone who transact online can take the risk of volatility so we are seeing this happens. Actually I am happy with this kind of development because these stable coins are still just part of the crypto market, when they get popular and grow, the effect would result on the entire market.

Moreover, cryptocurrency is more effective if it is used as a commodity of trade and investment, rather than just being used to make payment transactions. Stable coins function the same as e-money, only that e-money is adopted more and more legally because it is based on official fiat currencies.

In my humble estimation stablecoins are so useful for everyone, that is why if there is some crisis like Corona, stable coins can save your money from the crisis. l mean if you realize that there is some problem, you can convert your money to stable coins and just can relax. It will save you thousands of dollars. But it doesn't mean stablecoins will be the future of cryptocurrency.

It is indeed effective as a strategy to secure assets in an extreme market. But you should not save it for the long term, the risks are high, especially regarding the freezing of funds: https://github.com/OmniLayer/omnicore/releases/tag/v0.3.0#freezing-tokens-for-managed-properties

[TimeTeller]

In my humble estimation stablecoins are so useful for everyone, that is why if there is some crisis like Corona, stable coins can save your money from the crisis. l mean if you realize that there is some problem, you can convert your money to stable coins and just can relax. It will save you thousands of dollars. But it doesn't mean stablecoins will be the future of cryptocurrency.

This is somehow true but you need to know that these stable coins might collapse anytime.
What if the owners of this stable coin decided to sell off their coins?
And how sure are you that they are still back 100% by the fiat currency that they are supporting at any given time?
You still have to be careful dealing with stablecoins, because we don't know the truth behind their existence.

[chmod755]

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

It's best to get something stable when to trade if we don't have time to be looking all the day into prices and analysis the best scape is to hold our money is something that we can sleep without worrying about.

[ancafe]

stable coins are indeed a very good tool to be a transaction tool, but not as an investment tool. however, crypto such as bitcoin or ethereum is not only used as a transaction tool, but also a business and investment tool. in addition, stable coins can still be replaced with fiat on the internet such as PayPal or something similar. but, for the development of larger cryptocurrency, I think a decentralized crypto is needed and is more than just a stable coin.

[Ozero]

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 fact, stable coins with great difficulty can be classified as cryptocurrencies. These are digitized currencies of states and less commonly other financial assets. In any case, they do not belong to a decentralized cryptocurrency and therefore cannot be its future. These are completely different branches of digital currency that will compete with each other as a means of payment.

[unusualfacts30]

with more and more business getting onboard I would say it is in the future. it cant be used for investing and people who wants to invest still find safe haven in other crypto. it will probably be used for digital transactions in the near future but there is something lacking thats keeping that from happening.

[shoreno]

with more and more business getting onboard I would say it is in the future. it cant be used for investing and people who wants to invest still find safe haven in other crypto. it will probably be used for digital transactions in the near future but there is something lacking thats keeping that from happening.

stable coins are already being used on online transactions because of thier stable value but how can you say that they lack of something ? what would would that be  . maybe support for online platforms  because even if they are stable , i cant still find usdt on most sites that ive been visited before . i heard usdt have some legal issues too and that could be true because usdt is linked to fiats/banks . maybe in the future those restrictions or known issues can be permanently sorted out then it safe to claim that stable coins are the future .

[Vitalicus]

with more and more business getting onboard I would say it is in the future. it cant be used for investing and people who wants to invest still find safe haven in other crypto. it will probably be used for digital transactions in the near future but there is something lacking thats keeping that from happening.

stable coins are already being used on online transactions because of thier stable value but how can you say that they lack of something ? what would would that be  . maybe support for online platforms  because even if they are stable , i cant still find usdt on most sites that ive been visited before . i heard usdt have some legal issues too and that could be true because usdt is linked to fiats/banks . maybe in the future those restrictions or known issues can be permanently sorted out then it safe to claim that stable coins are the future .

You're right. Fiat money is the best method of payment right now due to the wide recognition. That's also the problem that crypto money is facing right now. In order to be an effective currency, a currency has to keep it value stable overtime and also have the wide recognition. In my opinion, the reason why many nations don't accept crypto money as a method of payment is that their citizens aren't familiar with this kind of payment. Also, governments have to keep their fiat money in order to control their economy.

[TastyChillySauce00]

with more and more business getting onboard I would say it is in the future. it cant be used for investing and people who wants to invest still find safe haven in other crypto. it will probably be used for digital transactions in the near future but there is something lacking thats keeping that from happening.

tbh if USDT is not "that" opposed by the authority up there and don't need to face the legal hurdles if it about to become popular these stablecoins are actually the most suitable for digital payment among merchants. Although, if decentralized crypto could instead take over that place it will be even better.

[lobo13hf]

with more and more business getting onboard I would say it is in the future. it cant be used for investing and people who wants to invest still find safe haven in other crypto. it will probably be used for digital transactions in the near future but there is something lacking thats keeping that from happening.

china has already launched its digital stable coin and that makes sense if the stable coin will be the future of cryptocurrency, we must think to avoid the volatility and stable coin is the best solution.

We will see there will be a lot of stable coins in the market backed by real money.

[beerlover]

I am not seeing people to start using stablecoins instead of fiats unlike what OP is trying to emphasize here. Stablecoins may stay with us and may serve us for trading and easy moving funds across exchanges/borders and other than these I am not seeing any other applications from stablecoins to have brighter future like bitcoin is having. Hence, I believe it must be inappropriate to call stabelcoins to be the future of cryptocurrencies.

[Nitt371]

I think yes.

Stablecoins allow for practical usage of cryptocurrency, paying for things in your daily life, but bitcoin has a similar feature.
In my opinion, cryptocurrencies will still exist in the future, not only stablecoins, but bitcoin, ethereum, and so on.
If the value of stablecoins is not affected by the rapid change in the crypto market, it’s very likely that stablecoins can be trusted to replace the fiat money we predominantly use today.

[posporo]

In my opinion, the future is very unpredictable so we could say stablecoins or new coins is the future of cryptocurrency. Stablecoins is good to invest especially to those who want to avoid a major loss so they chosde safe path but there are possibility that s new coins could have a big potential.

[Pecunia non olet]

No because thez do not solve anything new. Bitcoin is an alternative to the dollar, banks and other financial instituions, it is completelz a new ecosystem. But stable coins are not pretty diffrent from classic FIAT currencies.

[7788bitcoin]

Private coins face resistance from regulators in various countries.
The SEC recently filed a ton of lawsuits against exchanges and ICO projects.
I do not think that cryptocurrencies will be able to make a real mass adaptation without the approval of regulators, for whom private coins are a bone in the throat.

In hindsight it is a good move by the SEC to protect people from scam projects, we had billions of dollars worth of scam in the past 5 years and if the scammers are still coming up with projects that are aimed at collecting money and dumping the coins and then walk away without any repercussion nor do they return the funds if the project fails to achieve the success they set out and how long do you think that the government will have a blind eye on a market like these.
Mass adoption is possible and you cannot coin bitcoin and the rest of the ICO projects as they are completely different.

[republicrypto]

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

nobody know, what will happend with cryptocurrency in the future,
but, in my opinion i choose bitcoin as the first and the king of cryptocurrency rather than any crypto inlcuding all pf stablecoins
regards

[irixo10]

Every platform out there adopts the cryptocurrency they think will meet their needs and thats the way I see it. All these platforms adopting stablecoins knows what they are after; some gambling platforms also uses Bitcoin, some other platforms also uses ETH, thus it can be seen the team knows what they are after. Therefore, I say vividly, stablecoins can't be seen as the future of this space, the only cryptocurrency which is seen as the future of the crypto space is Bitcoin and it won't change.

[Smitty Werben Man Jensen]

in my opinion stable coins are very meaningful to the world of cryptocurrencies,
especially now that Tether has entered the third rank in Coinmarketcap and shifts Ripple, surprisingly

[Alohadanc3]

It's hard to give a statement that stable coins will be the future. But at this moment they have a great impact in the market. Cause people like and also need stable coin in market. And that's why you will see that there are in the market a lots of stable coin available. And in my opinion like now in future stable coins will be take a great role in market.