Increase in stable coins adoption might just be the key to crpyto dominance.

[STT]

I'd rather bet all stable coins are due to fail, unless they are making enough money in the good times to cover the possible failures in their attempts to peg value to dollar or anything else.   They are using leverage and reliant on factors external to themselves, when volatility occurs its likely they are unable to stay perfectly stable.
  My number one prediction is volatility is increasing every year, if true stable is a failed meta imo.  The actual news headlines do not matter as much ultimately I presume we lead upto the failure of a major currency standard and/or fiscal budget with its national debt; much like Greek debt crisis but on a escalating scale nobody can catch its fall.

[KiaKia]

If CBDC does very well many stablecoins won't survive because there will be no need to use them, but I think that's not completely true, because CBDC seems like something that the government will use to monitor people, which can result in less adoption of CBDC, but if the government sees stablecoins to be a threat they can successfully kill each and everyone stable coins available, it will be easier because they aren't Bitcoin.

Even Visa and Mastercard payments are doing fine than stablecoins, the majority of people are used to real-world payment solutions, not stable coins, This is why I believe that CBDC will do very well in the real world, people care less what the government plan might be introducing CBDC, they are going to use it, only Bitcoin maxis won't.

[KingsDen]

The adoption of stable coins are already big, you can check in CMC where the top 6 trading volumes are dominated by 4 stable coins, the rest is BTC and ETH. This means most people use it for trading, but I don't think it's related to crypto dominance since no one want to hold stable coins where it's centralized, not making any profit and there's a risk of the project turn to be scam. Don't forget about UST and LUNA.

I was thinking the OP is saying about the adoption of CBDCs of different countries and not stable coins. Although CBDCs are stable coins but they are more of fiat than crypto. The government who is avoiding or fighting crypto is still in the crypto space. Whether with or without facilitation, crypto must be widely adopted and it will have high level of dominance.

[justdimin]

How is your country's currency different from stablecoins? Nothing, damn it! What could be a positive trend in this for currency users? Nothing. If the currency of your country is controlled by the government (central bank), but the stablecoins are controlled by a certain company, which, in both cases, can do whatever they want with their stablecoins, whether it be endless emission, and therefore inflation. Stablecoins are a very, very poor alternative for storing value, only valid for a short period of time. Stablecoins has the same disadvantages as any money - depreciation and unsuitability for storage. Stablecoins can't help countries beat inflation in any way, even though it is better than the national currency. Here need completely different tools.

The problem with stablecoins is that there are already several options on the cryptomarket, and new ones will be created. There was something similar in America, when each state had its own dollar. Which of stablecoins will win is unknown, but the losers will be useless to anyone.

Make a mistake with an investment of stablecoin and you are a beggar.

That is %100 true and this is why I do not use stablecoins at all. People who think that stablecoins are fine are people who are just kidding themselves. I just put my money in fiat and wait for the price to drop if that's what I want to do, which is rarely what I want to do to be fair because I keep all my investments in bitcoin and nothing else, but in rare cases that I rather have dollars, I do not use usdt, I just use usd and that way I know that it's the same thing.

Most places have a withdraw option to your bank, and in order to do that you need to have fiat, and then fiat in your account could stay there without you withdrawing it and then you could reinvest it. USDT has nothing over USD at all and people will eventually realize it.

[Synchronice]

Personally, this development brings me a lot of satisfaction, particularly because my home country's currency faces significant challenges, making stablecoins an attractive alternative for storing value.

You probably don't know what stablecoins are. Stablecoins, like USDT and BUSD represent American dollar in crypto world and to be frank, god knows whether they are really backed by dollar or not. So, one day, you met get surprised when you see your USDTs and they'll be 0.19238 in value.
Stablecoins don't keep the purchasing power at stable level, don't expect that if you were able to buy cookies for 1 USDT yesterday, don't expect that you'll pay 1 USDT tomorrow. They are just dollars, nothing else. If dollar gets inflated and purchasing power decreases, your USDT will also gets less purchasing power.

[DanWalker]

If CBDC does very well many stablecoins won't survive because there will be no need to use them, but I think that's not completely true, because CBDC seems like something that the government will use to monitor people, which can result in less adoption of CBDC, but if the government sees stablecoins to be a threat they can successfully kill each and everyone stable coins available, it will be easier because they aren't Bitcoin.

Even Visa and Mastercard payments are doing fine than stablecoins, the majority of people are used to real-world payment solutions, not stable coins, This is why I believe that CBDC will do very well in the real world, people care less what the government plan might be introducing CBDC, they are going to use it, only Bitcoin maxis won't.

The future of stablecoins will be shaken if the government rolls out CBDC and forces people to use it so they can easily control us. One more thing, if cryptocurrencies are widely recognized and the government requires exchanges to cooperate with local banks to create a gateway for direct trading in local currency, then the stable future of money cents would also be a question.

To answer what the OP is referring to, I don't think increased adoption of stablecoins will be the key to crypto dominance. In my opinion, bitcoin represents cryptocurrency and only when bitcoin is widely accepted and used can it be said that cryptocurrency will dominate.

[avp2306]

How is your country's currency different from stablecoins? Nothing, damn it! What could be a positive trend in this for currency users? Nothing. If the currency of your country is controlled by the government (central bank), but the stablecoins are controlled by a certain company, which, in both cases, can do whatever they want with their stablecoins, whether it be endless emission, and therefore inflation. Stablecoins are a very, very poor alternative for storing value, only valid for a short period of time. Stablecoins has the same disadvantages as any money - depreciation and unsuitability for storage. Stablecoins can't help countries beat inflation in any way, even though it is better than the national currency. Here need completely different tools.

The problem with stablecoins is that there are already several options on the cryptomarket, and new ones will be created. There was something similar in America, when each state had its own dollar. Which of stablecoins will win is unknown, but the losers will be useless to anyone.

Make a mistake with an investment of stablecoin and you are a beggar.

That is %100 true and this is why I do not use stablecoins at all. People who think that stablecoins are fine are people who are just kidding themselves. I just put my money in fiat and wait for the price to drop if that's what I want to do, which is rarely what I want to do to be fair because I keep all my investments in bitcoin and nothing else, but in rare cases that I rather have dollars, I do not use usdt, I just use usd and that way I know that it's the same thing.

Most places have a withdraw option to your bank, and in order to do that you need to have fiat, and then fiat in your account could stay there without you withdrawing it and then you could reinvest it. USDT has nothing over USD at all and people will eventually realize it.

Maybe some think about they are safe from more dumps but they don't realize that their ability gor regaining back what they lose is gone by exchanging their holdings to stable coin. So maybe they should forget about that stable coin option since this is actually not a safe crypto to have whatever scenario we are facing on and this is also not the strongest reason why adoption will possibly happen since they already have those bank provided payment gateway and I think this is more better than stable coins so government will just likely ignore the possibilities of adoption due to those matters. Bitcoin still the strongest currency to have and for sure this is the main reason why the adoption happen.

[DrBeer]

The thing about stablecoins is this.... it was developed to mimic fiat currencies and that is it's ultimate downfall. Other Crypto coins have good volatility and that help people to make good profits, if they use Crypto currency as an investment. (A lot of them even beat inflation)

The stablecoins are used to park money, when there are too much volatility and that does not increase it's utility. There are also more benefits to other Crypto currencies, like Smart contracts and side chain developments.

I'm going to disagree a little and add a little
1. The purpose of stablecoins is to provide a mechanism to quickly and costlessly "jump" from full-fledged crypto as it were to fiat. 
2. Volatility allows you to make money of course. But you forgot about the second side of volatility - losses. Therefore, the volatility of crypto is a "two-way stick". Someone earns and someone loses !

[irhact]

I stumbled upon a captivating news piece online titled 'Stablecoins Settled as Much Value as Visa in 2022.' It's quite intriguing. Lately, I've been engaged in discussions with my friends about the implications of the growing adoption of stablecoins as a payment option in the current global landscape. To me, it appears to be a positive trend for the world of cryptocurrencies and us crypto users. More individuals are becoming acquainted with crypto, and it's increasingly becoming a preferred choice for many.

If stablecoin gets adopted it's a wrong representation of the industry because most popular stablecoin are as centralized as the fiat currency therefore it won't make any difference as they can easily regulate the stablecoin and take control of it but they can't do that if bitcoin get adopted as the more preferably alternative payment currency. Stablecoin adoption only gives way for the government to increase their development of CBDC and that won't be good for decentralized finances.

Stablecoin are not as stable as we think and those that are holding strong are been manipulated like Tether USDT. There are allegations against them yet they're still functioning like nothing happened but if similar allegations were against small stablecoin they'll be died.

[Mate2237]

What value stablecoins settle? Go to any supermarket in the world and you'll see people paying with Visa or Mastecard every single minute. But where are the stablecoin payments?  I never encountered a business, even a small one, that accepts stablecoins.

My guess is that most of the activity on stablecoin network is speculative trading, especially by bots. If someone shut down stablecoins tomorrow, the world wouldn't notice. If someone shut down Visa tomorrow, that would be Armageddon.

You have said it all, I have not seen any super store or boutique that has accepted stablecoins in anywhere but I have seen bitcoin being accepted in the city mega stores. People have not confident on stablecoins. Even online shopping people use verve, Visa and Master Cards. Stablecoins are not reliable because their value is not even appreciated. Any business that is accepting stablecoins as their payment methods is on their own risk.

Stablecoins is just like airdrop. I am not advising anyone or business owners to accept stablecoins in their payment methods of goods and services. Because they might lose all their money. Stablecoins are centralized projects which can be collapsed at anytime.

[GeorgeJohn]

What value stablecoins settle? Go to any supermarket in the world and you'll see people paying with Visa or Mastecard every single minute. But where are the stablecoin payments?  I never encountered a business, even a small one, that accepts stablecoins.

My guess is that most of the activity on stablecoin network is speculative trading, especially by bots. If someone shut down stablecoins tomorrow, the world wouldn't notice. If someone shut down Visa tomorrow, that would be Armageddon.

Many countries are actually adopting crypto as a legal means of payment the only reason visa is still more in use is because many firms are not accepting crypto payments yet and I mean your supermarkets and other physical business that uses faits. And for now there isn't much demand for crypto payments for offline vendors. And I think you haven't read the article yet to see what I'm really talking bout

Can you make a proof whereby countries make a payment or accept cryptocurrencies as a legal tender, we all know that cryptocurrency especially bitcoin have not been accepted worldwide as a currency, but the news or information have had it already that their an existence of cryptocurrency and it have not be officially legalized as a legal tender, what I know about bitcoin is that has influenced across the countries as digital currency that is decentralized. For the aspect of a stable coins, its well known that stablecoins have regards and have no value compared to visa, when stable coins is out of the world it won't be noticeable, I believe someone has said something contrary to my point of views towards the existence of stable coins.

[Captain Corporate]

I can't really believe that it would come down to that, but there is both a right part about it and wrong one. Correct part is the fact that we are talking about a place that would be quite different, I mean stable would make all the companies all around the world pay each other easily, better than Paypal, and it would work amazingly. However, the wrong part is the fact that what if the stablecoin crashes? I mean is there a guarantee that USDT will not crash to zero tomorrow? There is absolutely no guarantee. This is why we need CBDC or whatever they are called, a stablecoin that is made by the government, at the very least you would be guaranteed it will not crashed.

[icalical]

~

What I don't understand in the OP's position is that he is trying to connect the dominance of stablecoins in the digital asset market with the dominance that crypto will have as a direct result of that. This assumes that stablecoins are considered cryptocurrencies when they are just another form of digital fiat currencies.

Though most (or maybe all) of stable coin is centralized, and backed by fiat, as long as they are using Cryptographic encryption and blockchain technology, they still can be considered as cryptocurrency, a centralized crypto currency but still cryptocurrency, and it might sound weird, but there are actually some people who are never learn Bitcoin or Crypto, but they are familiar PayPal, Skrill and other online payment method, with PayPal releasing a cryptocurrency, it might be their first step to learn about crypto. I don't fully agree to every statements by OP, but some part of his opinion actually make sense.

[Doan9269]

I don't know the connection between bitcoin and stablecoin that has to be something we look on to for increase in bitcoin adoption, i see stablecoin as an alternative to hold down your money when you're yet to decide on what and were to invest on, i think it's more secure having it in stablecoin than fiat, but any decision does not make an increase or decrease in bitcoin adoption, what the people needs is bitcoin and not other other form of crypto or digital currency.

[Unbunplease]

I would not attribute the increase in the share of stablecoins to the accelerating spread of cryptocurrencies. Stablecoins are a convenient means of storing and transferring data without losing value (the cryptocurrency rate jumps every second, while the stablecoin rate jumps once a day). For many people, it is.

[darkangel11]

Centralized stablecoins that have an issuer? So just like fiat money in digital form? CBDC? Hell no!
What problems do they solve? In what way do they help bitcoin? If you want bitcoin, buy bitcoin. If you want to hold fiat - hold fiat. A stablecoin is like a fiat wannabe that allows people to skip paying taxes in countries where every transaction is a taxable event. I don't see any other use for them. Nobody transacts with them and nobody uses them as a store of value.
If you can explain to me why a person like me, who already owns bitcoin, needs to own a stablecoin, I'm all ears.

[Cryptomultiplier]

~

What I don't understand in the OP's position is that he is trying to connect the dominance of stablecoins in the digital asset market with the dominance that crypto will have as a direct result of that. This assumes that stablecoins are considered cryptocurrencies when they are just another form of digital fiat currencies.

Though most (or maybe all) of stable coin is centralized, and backed by fiat, as long as they are using Cryptographic encryption and blockchain technology, they still can be considered as cryptocurrency, a centralized crypto currency but still cryptocurrency, and it might sound weird, but there are actually some people who are never learn Bitcoin or Crypto, but they are familiar PayPal, Skrill and other online payment method, with PayPal releasing a cryptocurrency, it might be their first step to learn about crypto. I don't fully agree to every statements by OP, but some part of his opinion actually make sense.

These days it is rather hard to find any one who uses the internet who doesn't know or haven't heard of cryptocurrencies or BTC. Check. 
Online browsers like opera mini, Firefox have crypto wallets that would make users wonder till findings that it is meant for cryptocurrencies.
Also, anyone using payment apps like PayPal, Skrill and the others as mentioned will at some point encounter cryptocurrency for payments, because the solution to huge transaction fees, certain level of anonymity and privacy is crypto.
Tell me what better way to make crypto more dominant if not the campaign of decentralized stable coins competing with each other to do and deliver better returns.

[Gozie51]

What value stablecoins settle? Go to any supermarket in the world and you'll see people paying with Visa or Mastecard every single minute. But where are the stablecoin payments?  I never encountered a business, even a small one, that accepts stablecoins.

My guess is that most of the activity on stablecoin network is speculative trading, especially by bots. If someone shut down stablecoins tomorrow, the world wouldn't notice. If someone shut down Visa tomorrow, that would be Armageddon.

I like the analysis of stablecoin and Visa to see that even Visa is valid and valued for P2P transaction more than stablecoin that is pegged with another fiat and bitcoin the most of all decentralized coin with freedom, privacy and dominance on all other coin .

So why not go direct and use your card and at least avoid the primary stress of accessing the internet.

[arallmuus]

I would not attribute the increase in the share of stablecoins to the accelerating spread of cryptocurrencies.

It is actually one of indicator that some people use though and wether people hate it or not, stablecoins have been part of crypto and it is going to be as well in the future. Does anyone even remember how chaotic back then when UST crashed? it was chaotic and frankly speaking, it shouldnt really affect bitcoin / crypto in any dominant way but it did so the increase in share of stablecoins are actually correlated to the spread of cryptocurrencies in a sense

[coupable]

~

What I don't understand in the OP's position is that he is trying to connect the dominance of stablecoins in the digital asset market with the dominance that crypto will have as a direct result of that. This assumes that stablecoins are considered cryptocurrencies when they are just another form of digital fiat currencies.

Though most (or maybe all) of stable coin is centralized, and backed by fiat, as long as they are using Cryptographic encryption and blockchain technology, they still can be considered as cryptocurrency, a centralized crypto currency but still cryptocurrency, and it might sound weird, but there are actually some people who are never learn Bitcoin or Crypto, but they are familiar PayPal, Skrill and other online payment method, with PayPal releasing a cryptocurrency, it might be their first step to learn about crypto. I don't fully agree to every statements by OP, but some part of his opinion actually make sense.

Stable currencies are mainly used in trading platforms, where a novice user cannot understand the basics of their development and will most likely treat them as if they were fiat dollars. PayPal, Neteller, and other financial institutions never have a priority to spread blockchain culture and educate their users, and they do not even provide users with the ability to make payments except through a payment gateway.