Post
Topic
Board Nigeria (Naija)
Re: Why was bitcoin not created as a stable coin?
by
Wiwo
on 08/04/2023, 22:24:53 UTC


 the ideal of stablecoins emerges after Bitcoin was created and its sole purpose was to solve issues related to volatility.


Just to add to what you already stated about the reason why the stablecoin was created, aside from solving the issue of volatility with Bitcoin, stablecoins are also created to aid and solve the many scalability problems associated with Bitcoin.

E.gstablecoinss are more suitable for payments and fast also with fewer fees although not on all networks since we all know the network congestion and hyke in the transaction fees each time there is a significant price increase in bitcoin,  because of this scalability concern stablecoins were created to serve as an alternative to bitcoin in time of emergency that is why most stablecoins are pegged to the US dollar and can not be taken as an assent rather as spendable coins.

I won't find Bitcoin interesting if it were a stablecoin BTW of what use would Bitcoin have been if it were a stablecoin no matter the price, the ability to speculate the price of Bitcoin is what makes Bitcoin more fun, satoshi has a perfect plan for Bitcoin and he knows there will be other development that their protocol will either work to enhance Bitcoin network or compete with its development but whichever ways, bitcoin has been successful being a decentralized digital currency and an asset.