Re: StableCoins might increase crypto adoption by big companies ?
You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
Yes. I think the advantage of a stable coin is that it can be used for exchange within a company, this can replace the USD. In this case, maybe a stable coin will be superior to Bitcoin. Bitcoin prices tend to be volatile. But in terms of investment and trading, people prefer Bitcoin. I don't even like stable coins in terms of investment.
stable coins can be very helpful if and only if they have true backing as claimed by the issuer or developers. but we already found out that most stable coins claimed to have certain fiat backing are not 100% true.
this type of coin can be of great use if they are true to their claims especially within the ecosystem of a big company.
but outperforming bitcoin? i highly doubt that.
But it is proven that currently stable coins are still able to maintain the value according to what was planned, even the development of stable coins is faster. We take the example of Tether, now it has beaten many other coins. Tether is already ranked 5. If you look at daily volume, Tether is higher than all coins, including Bitcoin.
