Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Annalise on March 29, 2019, 09:00:14 PM
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There are so many projects that want to create their own stable coin backed by Fiat currency these days.
Do you think that stable coins will have any effect on the volatility of cryptocurrency?
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Stable coins increase convenience when working with cryptocurrency. It is convenient to withdraw funds from a coin or token, which began to fall in price. It is always a kind of buffer between cryptocurrency and fiat, or between separate types of cryptocurrency, if there are no direct trading pairs or funds, for various reasons, you need to hold it for a while until a certain date or event.
However, stable coins can not affect the stability of the price of cryptocurrency. They have nothing to do with it.
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I believe that if the projects that want to create stable coins do everything accordingly,that stable coins can reduce the volatility of cryptocurrency while supporting mainstream adoption.
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There are so many projects that want to create their own stable coin backed by Fiat currency these days.
Do you think that stable coins will have any effect on the volatility of cryptocurrency?
Stable coins can not affect the stability of the price of cryptocurrency. Stable coins are intended for cryptocurrency service, they are not a full-fledged cryptocurrency, since they are not intended for profit.
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Yes of course, the creation of stable coins will affect cryptocurrency positively ...... considering that it would help reduce the volatility of cryptocurrency which could encourage increased participation.
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In my thinking, stable coins are there for those that easily gets panicked by the negative moves in the market. Stable coins has nothing to do in affecting the price of crypto currencies.
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I do not know, why need very many stable coins and tokens. In any case, traders use only few stable coins from many - usdt usually.
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Stable coins have the right to exist in an unstable crypto space. It is very convenient to work with exchanges to fix profits and then create a new order to buy. Investing in stable coins makes no sense, the risks are the same as investing in any other coin and there is no profit.
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This is the hope for all traders. Thus traders will be calmer in carrying out activities without having to be wary of the altcoin movement which leads to a decline or red market.
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I actually really support the existence of stable coins,
but strongly disagree that there are a lot of stable coins that appear, should 1 or 2 stable coins be enough,
but now there are a lot of stable coins, this is very dangerous if a lot of stable coins appear because it causes unstable market movements later.
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I will choose two stable coins that I use to trade, for me I will hold bitcoin, and ethereum, because now the price growth is also faster to crawl up, so I think both of them are good we last longer.
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If I see BTC prices going up, a stable coin will remain at the price determined by fiat.
the use of stable coins is better for use on their own platform, because this coin has no effect on the prices of other altcoins.
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What is meant by stable coins here is about prices that do not fluctuate in the exchange market. Is not as part of cryotocurrency will experience price volatility if it has started to enter the market. And the price can go up and down quickly and a lot of volume. Hopefully this coin stabe will always be intervened by Dev by buying back if the price drops a lot. So that it doesn't drop too long and becomes stable.
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now stable coins are not particularly isolated,because prices are rising after a major stagnation,so you should wait until everything is normal
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They have a potential, but they are not like usual crypto. It's more like a backup for fiat money, and some kind of bridge which is connecting it with cryptocurrency world. But I think stable coins begin to be more popular. Few days ago I noticed that CoinDeal (https://coindeal.com/news/true-usd) has added TrueUSD on their market, and it didn't do so with any stablecoin before
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If it is not stable then the name Collapse will occur.
I still remember when the USDT was dumped by the Core Team but it was returned again to a stable price and I still remember that.
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I think the coin is good and has a good concept and also the price tends to be stable for me bitcoin, because bitcoin is also the number one coin and also has promising potential in the future.
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Do you think that stable coins will have any effect on the volatility of cryptocurrency?
What effect do you mean? I think stable coins cannot influence the volatility in crypto space. I don't see something from stable coins that is worth to stop volatility. Although it is a coin like USDT, it also has volatility, but the volatility is not really high.
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Stable coins increase convenience when working with cryptocurrency. It is convenient to withdraw funds from a coin or token, which began to fall in price. It is always a kind of buffer between cryptocurrency and fiat, or between separate types of cryptocurrency, if there are no direct trading pairs or funds, for various reasons, you need to hold it for a while until a certain date or event.
Very true
Reasons People Use Stablecoins
1. Exchanges: Cryptocurrency traders can reduce their exposure to Bitcoin by selling their Bitcoin for stablecoins. This allows traders to keep their wealth on an exchange without converting back into fiat. This is useful for two reasons.
First, many exchanges take days to convert fiat into crypto, which means investors must wait to trade.
Second, converting back into fiat means a tax bill is coming soon, since most exchange on- and off-ramps now require KYC-AML.
2. ...
3. ...
https://ingoldwetrust.report/wp-content/uploads/2019/05/In-Gold-We-Trust-2019-Extended-Version-english.pdf
p247
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There are so many projects that want to create their own stable coin backed by Fiat currency these days.
Do you think that stable coins will have any effect on the volatility of cryptocurrency?
the stable coins at this time is news that is currently being discussed, especially when US president gives a stable coin opinion, most likely this is a signal because a large adoption at stable coins will occur in the future.
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I think stable coins are needed to increase profits more easily by using trading every day on the market, because for me stable coins are also a great way for us to last longer, seeing stable coins also has good developments in the future.
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Stable coins are needed for ease of use of conventional cryptocurrency. It makes no sense to buy it and simply hold it, since, unlike the usual decentralized cryptocurrency, they do not make a profit. We still need stable coins, especially those that are issued by states, and not by individuals.
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coincidence needed in this market will avoid treder from very high market volatility I myself hold a few stable points on the exchange that I follow....