Cryptocurrency - fiat currency

[KrisAlex18]

Well, there are positive and negatives sides with both cryptocurrency and fiat currency. For me cryptocurrency is only an alternative currency for fiat currency because fiat currency will still be the standard currency and it cannoy be replaced by the cryptocurrency
Positive of cryptocurrency:
1. Investing cryptocurrency is more profitable compared to fiat currency because of its volatility.
2. Can be used for faster transactions because it only happens online.
3. More helpful when economy crisis happens
Negative of cryptocurrency
1. Prone to hackers and scammers
2. Needs stable internet connection
3. Cannot be used for all the transaction payment.

[Coyster]

1. Investing cryptocurrency is more profitable compared to fiat currency because of its volatility.

It's not possible to invest in fiat currency, so I would not add this to the advantages of bitcoins(over fiat),you can only use fiat to invest in a business, buy stocks and even buy bitcoin itself. If you're holding 5 pounds today, it'll still be 5 pounds in a years time, it doesn't appreciate, though economical factors may play a part and what you can afford with that 5 pounds will either increase or reduce, but it still remains 5 pounds(so fiat is used to invest, not invested in)

3. More helpful when economy crisis happens

Bitcoin is not a safe haven in a situation of an economic crisis, in fact an economic crisis can lead to bitcoin crashing in price and people losing large chunks of their investments. For example in the case of this corona pandemic(which is an economic crisis), I think more people will consider fiat more helpful at this time, and will even sell their bitcoins to hold fiat,  for it's spontaneity in meeting their needs.

[Yatsan]

3. More helpful when economy crisis happens

Bitcoin is not a safe haven in a situation of an economic crisis, in fact an economic crisis can lead to bitcoin crashing in price and people losing large chunks of their investments. For example in the case of this corona pandemic(which is an economic crisis), I think more people will consider fiat more helpful at this time, and will even sell their bitcoins to hold fiat,  for it's spontaneity in meeting their needs.

I will disagree to this. Bitcoin is more popular that fiat right now considering that, the virus itself can transfer using fiat. And more people are using online currency or online banking right now to make a transaction cause of the gear of getting the virus. And actually a lot of gamblers right now are going to try online gambling cause all of the casinos in their place are close (if their country is on lock-down). Bitcoin and other online currency are more popular in this crisis cause it helps us to transact without having a contact to the other person.

[slackovic]

How about stable coins?  It's technically cryptocurrency but are pegged to a fiat currency's value. Any thoughts about where does stable coins really stand? Is it really cryptocurrency and is it really worth it?

Why wouldn't stablecoins be a cryptocurrency? You know that saying:

If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.

Something is not a cryptocurrency just because it's price is not stable. Something is a cryptocurrency because it's technology is based on cryptography. And every stablecoin's technology is based on cryptography. The only difference is that it's value is pegged to a fiat or some precious metal.

[cryptoaddictchie]

And taking BTC down one way or another will not stop this activity.

Agree with me or not, I'll always defend privacy and BTC! I'm now apparently officially obsessed with it

Of course cannot, even with this activities continously happening, btc still have a lot of users who are really value its worth ^{for the better of course.} well we dont really need to mind those criminals and just focus on what we have to do ^{nothing will change eventually}

I think I will agree with defending btc as its caught my interest but word _obsession is too much for me. Anyway, I observed that your very in love with BTC just continue your relationship dude. 

[KiloFoxtrot]

How about stable coins?  It's technically cryptocurrency but are pegged to a fiat currency's value. Any thoughts about where does stable coins really stand? Is it really cryptocurrency and is it really worth it?

Why wouldn't stablecoins be a cryptocurrency? You know that saying:

If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.

On that note, I see it loud and clear now... it's a duck alright!

Something is not a cryptocurrency just because it's price is not stable. Something is a cryptocurrency because it's technology is based on cryptography. And every stablecoin's technology is based on cryptography. The only difference is that it's value is pegged to a fiat or some precious metal.

Yes, cryptography is what they've all got in common. So I guess, that answers the cryptocurrency question I was asking about earlier.

How about your thoughts on whether stable coins are really worth it or not (whether it's pegged value to fiat or some other precious metal instead)?

[slackovic]

How about stable coins?  It's technically cryptocurrency but are pegged to a fiat currency's value. Any thoughts about where does stable coins really stand? Is it really cryptocurrency and is it really worth it?

Why wouldn't stablecoins be a cryptocurrency? You know that saying:

If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.

On that note, I see it loud and clear now... it's a duck alright!

Something is not a cryptocurrency just because it's price is not stable. Something is a cryptocurrency because it's technology is based on cryptography. And every stablecoin's technology is based on cryptography. The only difference is that it's value is pegged to a fiat or some precious metal.

Yes, cryptography is what they've all got in common. So I guess, that answers the cryptocurrency question I was asking about earlier.

How about your thoughts on whether stable coins are really worth it or not (whether it's pegged value to fiat or some other precious metal instead)?

I'm not sure what you mean when you say are they worth it? If you mean as an investment, than they are not worth it because you can't invest fiat money into stablecoins pegged to fiat in order to make a profit because their price is pegged to a fiat. It would be like buying ten dollars with ten dollars and expecting it's price to rise.

However, you can invest into stablecoins pegged to some precious metal (like gold). That would be like investing into a gold, but you don't have to worry about storing it.

Styblecoins (especially those pegged to a fiat currency) are mostly used to keep the value of your portfolio in fiat steady when you expect the price of crypto to fall. For example, you have 1 BTC and it's worth $9000. If you are expecting the price of Bitcoin to fall, you change that 1 BTC to USDT (or any other fiat stablecoin) and when the price of BTC falls below $9000, you can buy more BTC.

The biggest problem with stablecoins is that you have to trust their issuer that it holds the amount of fiat or gold in the same amount as the value of issued stablecoin.

[KiloFoxtrot]

I'm not sure what you mean when you say are they worth it? If you mean as an investment, than they are not worth it because you can't invest fiat money into stablecoins pegged to fiat in order to make a profit because their price is pegged to a fiat. It would be like buying ten dollars with ten dollars and expecting it's price to rise.

However, you can invest into stablecoins pegged to some precious metal (like gold). That would be like investing into a gold, but you don't have to worry about storing it.

Oh, I wasn't actually aware of this. And it does make perfect sense to invest and not worry about storing it as you've mentioned.

Btw, can you provide known stablecoins that's pegged to some precious metal (like gold)? I'd like to know more about it, in case you have any recommendations.

Styblecoins (especially those pegged to a fiat currency) are mostly used to keep the value of your portfolio in fiat steady when you expect the price of crypto to fall. For example, you have 1 BTC and it's worth $9000. If you are expecting the price of Bitcoin to fall, you change that 1 BTC to USDT (or any other fiat stablecoin) and when the price of BTC falls below $9000, you can buy more BTC.

Yes, I agree. And that's also what I know regarding how stablecoins are used so far.

The biggest problem with stablecoins is that you have to trust their issuer that it holds the amount of fiat or gold in the same amount as the value of issued stablecoin.

Are you referring to the stablecoins pegged to some precisious metal (like gold), like what you've mentioned earlier (above)?