Post
Topic
Board Economics
Re: Stable coin or having USD in bank
by
legendbtc
on 15/09/2023, 10:14:53 UTC
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Anyway, when I need to convert my Bitcoin, I think it is better to convert it to dollars or my national currency (Rupiah). I can't use Bitcoin for any transactions in my country, that's why I need to convert it. I think convert it to stable coins won't be a good idea. Stable coins can drop its price, it is not totally stable in price. Even you know that the price can free fall if there is something wrong with the coin in the future.



Indeed, stablecoins are not as safe as many people think, they are no different from altcoins on the market, they can decrease in price and lose their pegs at any time. Stablecoins are just an intermediary when we convert bitcoin to fiat currency and vice versa, and I've never held too many of them.
If I had to choose, I would still choose USD over stablecoins, because they have never been fundamentally safer than USD. Stablecoin of the Terra ecosystem has taught us a lesson and let us not forget that lesson.