Quote from: Ozero on February 25, 2024, 09:11:43 PM

Quote from: Thehallows on August 27, 2023, 07:47:17 PM

I stumbled upon a captivating news piece online titled 'Stablecoins Settled as Much Value as Visa in 2022.' It's quite intriguing. Lately, I've been engaged in discussions with my friends about the implications of the growing adoption of stablecoins as a payment option in the current global landscape. To me, it appears to be a positive trend for the world of cryptocurrenciesand us crypto users. More individuals are becoming acquainted with crypto, and it's increasingly becoming a preferred choice for many.

Stablecoins are a buffer connecting fiat and cryptocurrency. At its core, it is fiat, but in the world of cryptocurrency. Therefore, although stablecoins are a great help for participants in the cryptocurrency market, they are not cryptocurrency. The proliferation of stablecoins cannot increase their value. But since they make it easier to work with cryptocurrency, people's trust in cryptocurrency should increase. But stablecoins cannot dominate over cryptocurrencies. These are completely different financial assets.

stablecoin exist just to give convenience of bridging fiat to cryptocurrency and thats fine also most of these stablecoin are either transparent or audited anyway.
I think they are good for people that tries to trades or invest after all we need some form of asset that doesn't have as much volatility as cryptocurrency in general and stablecoin just works for that.
the fact that tether USDT so popular and even has that big of a market cap thanks to the fact that people keep using it across various exchanges whether its cex or dex its the same stablecoin are still being used widely for those that tries to avoid the volatility, it utilizes cryptocurrency at its core so its fine I guess it goes to demonstrate that the technology of a blockchain could definitely be used for digitalizing current conventional and traditional fiat's paper money.
considering that many countries are preparing their own CBDC i think i can see the future where many governments are trying to go that way also to reduce carbon footprints.
it indeed cannot dominate even if it has big market cap its just digitized fiat at the end of the day.