Post
Topic
Board Altcoin Discussion
Re: The use of stable coins or no?
by
Barbarian
on 11/01/2020, 03:25:32 UTC
On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?


You are describing precisely the reason why we have stable coins to begin with, exchanges realized that if you wanted to go from fiat to bitcoin or from bitcoin to fiat that could take a lot of time, time that you do not have when the price is moving really quickly, and this is especially true if you are a day trader in which a few seconds can be the difference between getting profits or getting losses, in order to solve that issue they decided to create stable coins that function very much like fiat but without many of the problems that come with it.