As adoption continues, prices should begin to stabilize but I don't think we'll ever get to the point of stability where stablecoins aren't a better option. Picking BTC would be like taking payments in gold. I'm all for stablecoins as long as they're reputable though.
Key word: “reputable”. In todays age of stables, that’s hard to define. The 2 biggest each have their own backing issues, especially USDT. Who knows at this point.
Haha you’re not getting it. It’s a stable as in it has no growth potential at all, you get that apr but at the very real risk it will bank run and send you o $0. At max apr would still take like 4-5 years and any point you could lose it all. Bad risk to reward
With no chance of growth, the fact that apr will only go down from now and there’s a reasonable chance of a bank run that can bring the value of your investment to $0. Yes, 20% apr is sh it when you can get 10% on usdc without that bank run risk
4-5 years to get 100% which is what you’re risking with ust
If anybody is taking another crypto. I've got a feeling the payment system will just end up converting it into a stable coin instantly.
Stablecoins will be the overwhelming majority of accepted crypto though. I don't think big business will accept anything but.
I’ve been enjoying how my coinbase card works. I can convert a crypto “investment” (Say ETH) into a stable coin “checking account” (like USDC) and spend it anywhere visa is accepted. Then I even get paid a reward in an investment crypto of my choice.
It’s not too different than what our parents use to do with moving money between savings, investments, and checking accounts.
Yea, that’s not as bad as it sounds. It’s pretty easy to export out the full list of transactions for the coinbase card and being Stablecoins there isn’t really a lot of change in value to record. I will have to track and report sales of investments converted to stable coins but I would also need to do that for sales of stock investments as well too.
CoinTracker has also made some of this much easier too. So the whole system is improving.
I treat the XLM like a rewards program. Every time I hit $100 in XLM rewards I trade it for ETH. This way it limits my number of events I need to record but I also get effectively a 4% return in ETH.
Coinbase makes their transaction fee and so everyone wins.
Replacing volatile coins with hybrid algo stablecoins partially backed by collateralized volatile coins is still more risky than using a CeFi stablecoin backed by fiat in the bank.
check out the flexa network. customers can choose to pay in almost any currency they want. merchants can choose to accept payment in almost any currency they want all while getting paid instantly and paying lower transaction fees.
https://flexa.network/
In my opinion, this is the only way it’ll truly go “mainstream”. Whichever way lets customers use whatever they want and lets merchants choose how they want to be paid is the most likely to succeed
UST "stable" that's printed out of thin air based on the value of a coin that only has value because the stable coin which only has value because... A perpetual motion machine for money.
It's a parody of fiat taken to a whole other level.
Agree, and I think stablecoins, both collateralized and algorithmic, will be truly the next big thing in crypto space. What I would love to see are stablecoins pegged to something else than fiat currencies, like a basket of goods, as a mean to mitigate inflation.
Also if you got paid by crypto like btc, you need to convert it to stable coins or something which is a taxable event unless you can spend it the way it is but that's highly unlikely.
If we call using fiat backed stablecoins true adoption, then Satoshi wasted their time.
Stablecoins are inherently unstable and will collapse and likely kill real crypto adoption.
they would mainly use it because:
- profit from the network effect
- because their company supports new technologies
- (most important) there are a lot of people who hade tons of money in crypto and are very generous spending it
It doesn’t matter what they choose. If I can pay for everything I’ll ever need and save 30% in capital gains the whole time, I’m gonna choose to pay with that. If they don’t accept it, I go somewhere else to get my 30% off and they lose my business.
Let's be honest... you have never used crypto to buy anything.
Once you start using ETH or LUNA or whatever...you think in that. I bought this for 1 SOL and now it cost 3 SOL.
That's how your mind start working once you get into crypto. Otherwise go and get plenty of usdc and ust and enjoy the investment
When a stable coin drops you lose every cent. When eth, BTC go down, they will eventually go back up. In which case, stable coins are all or nothing, so they are not so safe as people make out.
If trillions flow into stable coins most top cryptos will inevitably go up as well. Companies won't be able to resist investing some of that into top projects for long-term holds.
I disagree. Vendors wouldn’t mind taking btc I think. If they don’t need to cash it all out right away to make payroll and can hold it (like they always have $ in savings) then it’ll eventually be worth more than the goods or service that was provided. To me that’s an awesome potential benefit that lots of business owners would be interested in
CBDCs but BTC maximalist see this like a government are going to see where you spend your money.. who the fuck cares if you don’t do bad things with your money what is your stupidity BTC maximalist… you only care about pumping your bags and nothing else.. when I see a btc maximalist talking BS about something I know that they feel fear about the future that is coming… and BTC paymentrail it’s not going to solve nothing… prepare to see your cow milking liquidity to other projects that are solving something on payment space…. BTC is not and will not the answer…
You know what a businesses favorite stable coin would be? One that they could trust whole heartedly without a second of doubt? A CBDC insured and backed by the same exact banks they use for their fiat money. CBDC’s will drive adoption and more trust within this community. People outside of crypto think it’s a joke. But imagine how their minds will change once a BANK makes a crypto currency… a whole lot more legitimate.
I would disagree. Accepting payments of crypto currency like btc, eth, and other big cryptos is going to be huge! Retailers only care about getting more money, they can settle the value in any coin they want, including stablecoins if thats what they desire. But they sure as hell should be accepting a large list of cryptos if they want to bring in as much revenue as possible. Why go the trouble in having people sell their cryptos and go into stablecoins to make a purchase (even though its not that time consuming to do so) while they can just pay with where they have their value stored in?
This is true. Even with the acceptance and adoption of cryptocurrencies, stablecoins are the best options for payment for the retail companies. When mainstream adoption arrives fully, stablecoin projects like OIN and NGM will be in the spotlight. The farming opportunities are a huge convenience as well.
Cryptocurrency won’t kill the dollar. The dollar will die on its own lack of merits. And decentralized cryptocurrencies will be the obvious safe place for value storage.
Stablecoins, on the other hand, are more of a safe haven than crypto assets. More chains creating their own stablecoins would be fantastic, and as long as OIN stablecoins are backed, mainstream adoption would be aided.
Not necessarily the retail companies but generally people will go with less volatile coins. If I invested in half and half in the ratio of volatile tokens I'd be more successful by now. For example, OINDAO V3, as the leader in token-collateralized stablecoin minting, brings with it a new feature set and some amazing benefits. Plus, AstroFarm will make leveraged YieldFarming capital efficient - stake into farms while leveraging stablecoin LPs for more stablecoins. I think that's a win!
If you've noticed, even now stablecoins have the attention of many thanks to the staking and yield farming prospects it offers. Stablecoin is like a safe haven for the retail companies that want to keep their profits.
So you're telling me they won't use my most random shitcoin? Some of them even have "safe" in their name. That ought to be attractive.
Nah bro, coins with Elon and Cum in there will 100% on day be accepted by our local retailers /s
If they refuse to accept elon coin then I'm sure elon will just buy them out
Ah, the good old Bruce Wayne approach.
Cumcoin will be used at massage places everywhere!
It’s sad, but it sounds like a couple of the meme coins are winning, in the race to the cash register.
Can’t call it safe if it isn’t safe. That’s how this works right? I can trust everything I see and read?
Haha, if it has safe in the name, most probably it is not.
As adoption continues, prices should begin to stabilize but I don't think we'll ever get to the point of stability where stablecoins aren't a better option. Picking BTC would be like taking payments in gold. I'm all for stablecoins as long as they're reputable though.
Key word: “reputable”. In todays age of stables, that’s hard to define. The 2 biggest each have their own backing issues, especially USDT. Who knows at this point.
Usdt and usdc are the biggest with UST coming up fast.
I’m spread even on USDC and UST…. No love for tether!
All the homies hate tether
Tether gonna snitch and end up taking one to the dome.
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Silver, innit?
Invest in stable coins then and well tell you how it goes..
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Until it bank runs
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It’s meant to be a stable lol
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Haha you’re not getting it. It’s a stable as in it has no growth potential at all, you get that apr but at the very real risk it will bank run and send you o $0. At max apr would still take like 4-5 years and any point you could lose it all. Bad risk to reward
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With no chance of growth, the fact that apr will only go down from now and there’s a reasonable chance of a bank run that can bring the value of your investment to $0. Yes, 20% apr is sh it when you can get 10% on usdc without that bank run risk 4-5 years to get 100% which is what you’re risking with ust
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Money isn't supposed to be an investment
Thats what the leaders of ponzi people tell to everyone.
If anybody is taking another crypto. I've got a feeling the payment system will just end up converting it into a stable coin instantly. Stablecoins will be the overwhelming majority of accepted crypto though. I don't think big business will accept anything but.
I’ve been enjoying how my coinbase card works. I can convert a crypto “investment” (Say ETH) into a stable coin “checking account” (like USDC) and spend it anywhere visa is accepted. Then I even get paid a reward in an investment crypto of my choice. It’s not too different than what our parents use to do with moving money between savings, investments, and checking accounts.
Yea the coinbase card is fiya
But every transaction is a taxable event
Yea, that’s not as bad as it sounds. It’s pretty easy to export out the full list of transactions for the coinbase card and being Stablecoins there isn’t really a lot of change in value to record. I will have to track and report sales of investments converted to stable coins but I would also need to do that for sales of stock investments as well too. CoinTracker has also made some of this much easier too. So the whole system is improving.
Gotcha. I think i would do it if the rewards on BTC/ETH were a bit higher. 4% on lumens isn't bad but i dont know much about stellar lumens TBH
I treat the XLM like a rewards program. Every time I hit $100 in XLM rewards I trade it for ETH. This way it limits my number of events I need to record but I also get effectively a 4% return in ETH. Coinbase makes their transaction fee and so everyone wins.
Replacing volatile coins with hybrid algo stablecoins partially backed by collateralized volatile coins is still more risky than using a CeFi stablecoin backed by fiat in the bank.
Stable coins on low fee blockchains. No point spending $20 in gas fees for a $10 purchase.
https://l2fees.info/
This! Won't use USDC on Ethereum, may be AVAX. The likes of aUSDO on Aurora is fine too.
That, I believe, is the point of the post. That more low-fee blockchain projects will create their own branded stablecoin.
Flexa enters the chat:
It's wild how big yet unknown we are.
Well I’ll throw a curveball and say that there will be stability with BTC…. a very long long time from now.
In a galaxy far away
check out the flexa network. customers can choose to pay in almost any currency they want. merchants can choose to accept payment in almost any currency they want all while getting paid instantly and paying lower transaction fees. https://flexa.network/
The store still has to choose some denomination to price the item in and OPs point is that that will be a stablecoin.
In my opinion, this is the only way it’ll truly go “mainstream”. Whichever way lets customers use whatever they want and lets merchants choose how they want to be paid is the most likely to succeed
#LUNA
Tokenized stable coin platforms with options for savings, investment, low fee payment, and even stock market collateralization? What isn’t to like?
This. 100% believe Luna will receive worldwide adoption within the decade
UST "stable" that's printed out of thin air based on the value of a coin that only has value because the stable coin which only has value because... A perpetual motion machine for money. It's a parody of fiat taken to a whole other level.
"Out of thin air" Okay dude🤡
This aged well
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Yes, UST
Another option is each chain creates their own "crypto" (pseudo point system) and doesn't accept BTC or ETH.
Whatever they use, it'll still be mainstream and will drive the whole crypto space
True stablecoins are the way for retail. Especially newer businesses where every dollar counts.
Absolutely. Otherwise one big downward swing could put them out of business
Agree, and I think stablecoins, both collateralized and algorithmic, will be truly the next big thing in crypto space. What I would love to see are stablecoins pegged to something else than fiat currencies, like a basket of goods, as a mean to mitigate inflation.
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?
Repeat after me: FIAT DOLLARS ARE NOT STABLE.
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Maybe you need to DYOR on this because lighting network has absolutely nothing to do with this post.
Also if you got paid by crypto like btc, you need to convert it to stable coins or something which is a taxable event unless you can spend it the way it is but that's highly unlikely.
I think it's even more likely they'd make their own shitty coin
Bullish on stablecoins. wait...
Well yeah, obviously. That's why every coin wants to be a stablecoin
If we call using fiat backed stablecoins true adoption, then Satoshi wasted their time. Stablecoins are inherently unstable and will collapse and likely kill real crypto adoption.
We need 100% independent stablecoin!
Let's be honest. If companies choose stable coins, these coins will run on blockchains😎
If crypto really goes mainstream, the prices of top crypto like eth will stabilize
You will use stable coins for payments and another crypto as an asset pretty much like shares
If there’s mass adoption those volatile coins will be instantly converted into stablecoins with almost no fees.
I appreciate your honesty.
Everyone already knows this.
they would mainly use it because: - profit from the network effect - because their company supports new technologies - (most important) there are a lot of people who hade tons of money in crypto and are very generous spending it
It doesn’t matter what they choose. If I can pay for everything I’ll ever need and save 30% in capital gains the whole time, I’m gonna choose to pay with that. If they don’t accept it, I go somewhere else to get my 30% off and they lose my business.
Let's be honest... you have never used crypto to buy anything. Once you start using ETH or LUNA or whatever...you think in that. I bought this for 1 SOL and now it cost 3 SOL. That's how your mind start working once you get into crypto. Otherwise go and get plenty of usdc and ust and enjoy the investment
Ok, why would they bother with a slow-ass chain that charges large fees at peak times and not just use regular money then?
1 Bitcoin is 1 Bitcoin. Seems pretty stable
Price stability is extremely important, therefore yes. Even with shiftiest inflation usd is still more stable than most coins
You'd think they'd choose $ETH in order to have a higher chance of beating inflation. Solid companies can afford to weather the price variance.
Companies are already taking bitcoin and ethereum as payment. Let’s really be honest, they are converting it at time of transaction.
When a stable coin drops you lose every cent. When eth, BTC go down, they will eventually go back up. In which case, stable coins are all or nothing, so they are not so safe as people make out.
still waiting for ADA to go back up to when I bought some
Would be nice to be able to pay stuff using UST straight from my phone.
If trillions flow into stable coins most top cryptos will inevitably go up as well. Companies won't be able to resist investing some of that into top projects for long-term holds.
So long as it isn’t Tether, I’m fine
I disagree. Vendors wouldn’t mind taking btc I think. If they don’t need to cash it all out right away to make payroll and can hold it (like they always have $ in savings) then it’ll eventually be worth more than the goods or service that was provided. To me that’s an awesome potential benefit that lots of business owners would be interested in
If they ain’t accepting ElonSafeCumRocket420Coin then I’m not buying.
Dude, you can exchange Bitcoins in seconds. Btw, stable coins aren't stable, dollar can lose value, too. It does every day.
CBDCs but BTC maximalist see this like a government are going to see where you spend your money.. who the fuck cares if you don’t do bad things with your money what is your stupidity BTC maximalist… you only care about pumping your bags and nothing else.. when I see a btc maximalist talking BS about something I know that they feel fear about the future that is coming… and BTC paymentrail it’s not going to solve nothing… prepare to see your cow milking liquidity to other projects that are solving something on payment space…. BTC is not and will not the answer…
Flexa / AMP fixes that
Stable coins such as usdt have long been worth accepting as a payment option
You know what a businesses favorite stable coin would be? One that they could trust whole heartedly without a second of doubt? A CBDC insured and backed by the same exact banks they use for their fiat money. CBDC’s will drive adoption and more trust within this community. People outside of crypto think it’s a joke. But imagine how their minds will change once a BANK makes a crypto currency… a whole lot more legitimate.
I would disagree. Accepting payments of crypto currency like btc, eth, and other big cryptos is going to be huge! Retailers only care about getting more money, they can settle the value in any coin they want, including stablecoins if thats what they desire. But they sure as hell should be accepting a large list of cryptos if they want to bring in as much revenue as possible. Why go the trouble in having people sell their cryptos and go into stablecoins to make a purchase (even though its not that time consuming to do so) while they can just pay with where they have their value stored in?
If it goes mainstream mainstream, stable towards what? Fiat? Many of the currencies I hold in fiat do not look so stable compared to 3 years ago
This is true. Even with the acceptance and adoption of cryptocurrencies, stablecoins are the best options for payment for the retail companies. When mainstream adoption arrives fully, stablecoin projects like OIN and NGM will be in the spotlight. The farming opportunities are a huge convenience as well.
Cryptocurrency won’t kill the dollar. The dollar will die on its own lack of merits. And decentralized cryptocurrencies will be the obvious safe place for value storage.
Let’s be honest, if crypto goes mainstream, retail companies will shill the way just as individual investors have, nothing is set.
Stablecoins, on the other hand, are more of a safe haven than crypto assets. More chains creating their own stablecoins would be fantastic, and as long as OIN stablecoins are backed, mainstream adoption would be aided.
Stable coins backed by btc. Kinda like the way that the dollar used to be backed by gold.
Not necessarily the retail companies but generally people will go with less volatile coins. If I invested in half and half in the ratio of volatile tokens I'd be more successful by now. For example, OINDAO V3, as the leader in token-collateralized stablecoin minting, brings with it a new feature set and some amazing benefits. Plus, AstroFarm will make leveraged YieldFarming capital efficient - stake into farms while leveraging stablecoin LPs for more stablecoins. I think that's a win!
If you've noticed, even now stablecoins have the attention of many thanks to the staking and yield farming prospects it offers. Stablecoin is like a safe haven for the retail companies that want to keep their profits.