Do we really need stable coins?

[dragononcrypto]

Now there are a lot of stable coins.  It seems to me too much.  Each fund seeks to issue its stable coin - but what will it do?  Many still try to use the USDT in spite of any attacks.

I think the market is becoming saturated with stable coins because of the concerns and risk in using Tether, this is why there was such a demand (and therefore supply) of new stable coins late last year. It also goes to show that while we do not need dozens of different stable coins, a handful of them is preferable to having a monopoly led by the fraudulent token issuer, such as usdt. The sooner alternative stable coin volumes outweigh tether's volume the healthier it will be for the market in my opinion, but unfortunately the alternatives are only in the tens of millions of daily volume, whereas Tether daily volume is still in the billions. I think we still have a long way to go.

[Stalky]

yes for me stable coins are also good for us to preserve now, because I myself also believe that holding stable coins will also get many benefits in the future.

[Jokers]

I believe that stable coins should be something which cryptocurrency are leading to. But now this industry is still in develop and I think we have to wait for this to happen

It would be really strange, because stable coins are coins tied to other assets (USD, gold, etc). And cryptocurrencies should develop themselves as independent projects.

Can stable coins be useful? Definitely yes. But unlike real USD they are not secured by sovereignty of the country. A country would protect it's currency, because it is a part of national security. And why would a company protect a stable coin if they would fail? No reason, except possible income. So stable coins have much less guarantee then the assets they are tied to.

[Malibu]

I don't like stable coins. I like coins that grow and fall. You can make good money on them. Only because the market is alive and I came to him.

[cybersoft]

if we look at 5 years back, cryptocurrency can still run and develop even though at that time stable coins did not exist,
but now stable coins have appeared and many of them,
I sometimes ask, do we really need to have a stable coin?
because I feel stable coins are made one of them to enrich the team and dev,
because if they sell coins it won't affect the market because it's a stable coin,
this is only my opinion,
so give your opinion so that I have a lot of insight.

Of course, we need stablecoins. Have you ever witness the market crashing down on your face?
Trust me, we need them because they are the fastest way to get out of the market when the market is crashing down.
When the market is bad there is no need to cash out your money through banks due to some extra charges between the exchange and the bank. Just move your money to stablecoins you should be just fine and whenever you feel like trading again you might just exchange your stablecoins for the coin you want to trade.

[dragononcrypto]

if we look at 5 years back, cryptocurrency can still run and develop even though at that time stable coins did not exist,
but now stable coins have appeared and many of them,
I sometimes ask, do we really need to have a stable coin?
because I feel stable coins are made one of them to enrich the team and dev,
because if they sell coins it won't affect the market because it's a stable coin,
this is only my opinion,
so give your opinion so that I have a lot of insight.

Of course, we need stablecoins. Have you ever witness the market crashing down on your face?
Trust me, we need them because they are the fastest way to get out of the market when the market is crashing down.
When the market is bad there is no need to cash out your money through banks due to some extra charges between the exchange and the bank. Just move your money to stablecoins you should be just fine and whenever you feel like trading again you might just exchange your stablecoins for the coin you want to trade.

While I don't completely agree with the sentiment of selling when the market is crashing, I can't deny that the the market needs stable coins. The number of fiat based crypto pairs is few and far between, whereas there are many more pairs for stable coins. I'd advise against Tether though.

[GREENch85]

More necessary, it seems to me, will be a direct opportunity to transfer from the exchange to a card (for example, ETH with instant conversion to the currency of the cardholder

[gotbounty]

I think stable coins is just for store money without potential high profits. If we intend to gain profits through holding a crypto coin, then stable coins are not suitable. However, if someone wants to keep his money on crypto coins without a worry of losing, then stable coins are a good choice.

[gofunme]

I can not understand how these coins are stable. If someone can control the whole  market to make the coin stable, the control is horrible.

[Octoalts]

Basically a Cryptocurrency coin is a coin with an unstable value, because the value of Cryptocurrency is always up and down or what is called volatile.  However, to maintain the stability of the value of Cryptocurrency coins in general, indeed we need a coin with a stable value to maintain the balance of the value of the Cryptocurrency in the market exchange.  And a stable coin of course will also be a reference or benchmark for the value of other crypto coins.

[wizard]

I do not believe that the majority of stable сoins are 100 percent provided in dollars. We need real stable coins, not fraudulent ones.

[Jokers]

I can not understand how these coins are stable. If someone can control the whole  market to make the coin stable, the control is horrible.

Their price is tied to another asset. For instance, USD: when you buy one stable coin for one dollar, it is minted, when you sell your stable coin and get your dollar, the stable coin is burned. It should work so, in theory. How it does in practise... we can just belive, that so.

[Speaker]

Many stable coins have questionable provision with real assets , but I use them to buy coins in time during drawdowns.
 I do not think that before the adoption of regulation of the industry need to rely heavily on stable coins...today their price is -1$ , and tomorrow it can be "0".

[bitjudge]

I found 2 interesting articles on the topic, but they are in Russian.
1. Stable Coins: quiet cryptocurrency harbor - https://forklog.com/stable-coins-tihaya-kriptovalyutnaya-gavan/
2. Stable coins: smart banknotes - https://forklog.com/stable-coins-umnye-banknoty/

This is a good analysis of the current situation and trends in stable coins, and you can try to read articles using Google Translator.

[zilzylian]

The stable coin developers think of many things from the coins they create, like the products they offer, the types of long-term investments by getting bonuses while holding coins.
But what I least like is that there is no price increase like other coins because these coins cannot have high prices and always have almost the same price. Because of that I currently don't have this coin.