Yes the stablecoins are pegged to some currency like USD. They're not their own currency. Why bother using them then when you can just use the original currency they're pegged to.
All else being the same the tech does matter, that's true, but the ambition of cryptocurrencies is (was?) not to be the same, so don't come arguing with stablecoins.
Replies (5)
I only bring up stable coins because you mentioned that the primary issue was being able to stabilize the price, right? I personally don’t need a stable coin. I’m fine with just being more frugal if the coin has less inflation than, say, gold.
They're only as stable as the pegged currency. Like USD which could do better in terms of stability -- past, present and future -- as we all know. Show me one that's more stable and I'll drop my dollars instantly.
Are you running a business? Do you have skills you are selling? Do you plan ahead financially?
If yes you care about stability, up or down either way.
I think stables can be useful. If it's difficult to access USD where you're from and/or your local fiat is even more garbage. Or to avoid crypto volatility in short/medium term. Can also be more anonymous than digital fiat.
True that.
It's not the main selling point of Bitcoin though. Bitcoin wants to be more stable than USD.
Good luck with that.
