Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: masterrex on December 09, 2019, 02:41:14 PM
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I don't know if its logical for others that the "cryptocurrency stablecoins is helping to stabilized/established the crypto market" Are you agree with this? For me i was agree 100% since most of the time, major crypto coins/tokens are often unstable in terms of market price and valuation,high volatility rate due to its weird fluctuation, while stablecoins that pegged to a stable assets like US$ dollars,gold etc. are not fluctuating much like Ethereum or BTC even if it was also called a cryptocurrency like USDT,USDC,PAX etc. that's why what will happen if those stablecoins will gone? drop your opinion below.
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In some way, yes it is I think. A coin like BTC,eth,ltc is not very stable like usdt,dai,usdc etc. so if a coin like usdt,dai was not there then it could be very risky for us to keep a coin like btc,eth in hand when the market volatility is very high. And also a stable coin backed by some assets. Like USDT was backed by USD. That's why the price of USDT stays stable in any condition.
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Stable coins are very difficult to attribute to cryptocurrency in general. They actually represent a completely different financial asset. States have finally realized the great advantages of stable coins and therefore they will not disappear anywhere. On the contrary, it seems that stable coins will develop rapidly and become serious competitors to a decentralized cryptocurrency. In my opinion, stable coins will not affect the price volatility of a decentralized cryptocurrency.
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-snip- In my opinion, stable coins will not affect the price volatility of a decentralized cryptocurrency.
Agree, stable coins cannot influence other coins. I think only Bitcoin that is able to influence other coins. Stable coins are the same as other altcoins, there is no way of them to give some impacts to others. Moreover, to stabilize crypto market is impossible to do.
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Stable coins cannot stabilize prices in the cryptocurrency market. Stable coins do their job, but this does not affect the volatility of a decentralized cryptocurrency. Stable coins are digitized ordinary currencies of various states, and the price of ordinary currencies in general does not affect the price of cryptocurrencies.
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Š”ryptocurrency market, stable coins do not stabilize, at least for the moment. They allow directly to the market participant to some extent go into stabilization, but this is also so-so.
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Stable coins will not disappear because they are definitely needed and stable coins will also be very good for investment or holding prices when all cryptocurrency that is unstable goes down in price to be bought at low prices by stable coins.
If the stable coin is lost, it is certain that many people will re-create it and it has been proven from USDT that it is slowly moving its blockchain from OMNI to TRC20 and ERC20.
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Yes it is but not much because people want volatility of cryptocurrency thats why they here in the first place. They knew they can make a lot of money on cryptocurrency. But its true that cryptocurrency stable coin is really big help in our industry since every cryptocurrency is volatile, it help stabilize the market.
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Š”ryptocurrency market, stable coins do not stabilize, at least for the moment. They allow directly to the market participant to some extent go into stabilization, but this is also so-so.
How would you say that when bitcoin price and other top altcoins was base on the US$ pegged stablecoin like USDT,USDC, PAX etc. majority of the cryptocurrency was traded directly with crypto stable coins, like USDT ,USDC etc. it means if the market has no stablecoin/BTC trading pair. it has no source of any stable valuation of price base on the US$ dollar. if the trading pair was just ex. ETH/BTC it was very hard to set its price base the uS$ dollar. because its not a stablecoin pegged to the dollar.
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I only use stable coins to reduce losses when BTC and other altcoins are really in a downtrend. This may be done by some traders to keep their crypto assets at a stable price from the profits they can from trading.Volatility Stable coins increase because there are good benefits to keeping crypto assets at the price we want, according to the price of each stable pair of coins
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Honestly, we will may regret to see more stabecoins been launch into the market. i think the usdt is enough and serve the purpose of it is meant for. it is of no use seeing more stablecoins flooding the market. i wonder what really are the use. maybe we might allow countries to invent their own stable currencies against the Usdt.
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In some way, yes it is I think. A coin like BTC,eth,ltc is not very stable like usdt,dai,usdc etc. so if a coin like usdt,dai was not there then it could be very risky for us to keep a coin like btc,eth in hand when the market volatility is very high. And also a stable coin backed by some assets. Like USDT was backed by USD. That's why the price of USDT stays stable in any condition.
If it is only for saving coins, you better keep it in local currency. Look for exchanges that support your country's local currency. Or suppose you invest your money in BTC or ETH. So you don't need to hesitate if there is no local currency in the exchange.
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Nope I dont agree with that statement. In my own view, stable coins are supressing the value of bitcoin. Imagine, there will be no stable coins, we will not see bitcoin at 8K levels, im pretty sure that bitcoin is very expensive.
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What I know, stable coins will never disappear because of the high level of need for these coins, I see a new project that makes coins stable every year, this proves that there is a lot of interest from traders and investors to make it easier for them to send crypto assets to several platforms exchange.
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Stablecoin is not to make crypto prices stable. Stablecoin was created to facilitate traders. Because crypto prices always change significantly, stablecoin is needed for transactions between altcoin. Altcoin exchanges it make to find cheap withdrawal fees.
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I'm not sure if it can help to stabilize the Crypto Market. But stable coins surely support the existence of crypto market. People also have another option to keep their money in more stable coin prices. But as the name of stable coins, the prices cannot move up significantly.
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I do not really understand what is stablecoin or whatever, but what I see is more profitable to invest in usdt. or dai karen I saw the price did not really fall when btc experienced a price decline from the beginning I knew what bitcoin and other crypto were
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Stable coins simplify and bring convenience when using the cryptocurrency, however they do not affect and are not able to influence the stabilization of the cryptocurrency market. The price of a decentralized cryptocurrency is also completely dependent on supply and demand in the cryptocurrency market. Stable coins got their name not because they are capable of stabilizing the price of the market by their purpose, but because they represent the digitized ordinary currency of the states and must consistently and stably correspond to its price.
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I don't think if Stablecoin can help stabilization on cryptocurrency. They have no power to make cryptocurrency be stable. But it is true that Stablecoin makes more options for investors/traders. This means that Stablecoins have a contribution to support the improvement of crypto world.
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Well probably. But, is that really? Market stabiity doesn't depend on the stable coins. It depends on the activity of the market itself. In this case, crypto is very volatile and it will still be that volatile.
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Stable coins are not called so because they help stabilize the price of the cryptocurrency market. They got their name because they stably duplicate the price of the ordinary currency of any state or group of states with which stable coins are provided. So, if a stable coin is provided with a dollar, then it will always be equal to the value of one dollar and can only slightly deviate from its exchange rate. This implies its stability. This has nothing to do with the stability of the cryptocurrency market.
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Stablecoin was created to avoid bad markets and secure crypto users when they were trapped in the bear market. I apply this when I want to secure the assets that I have when I experience loss when doing daily trading.
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I don't think that stable coins somehow affect the entire cryptocurrency market as a whole. With the help of stable coins you can make some purchases / sales. Therefore, if stable coins affect the roar, then equally like other cryptocurrencies.