Stablecoins are the future. The volatility of traditional fungible cryptocurrency make it lousy for merchants.
In this video I discuss how we need to focus upon the stability of these coins. This is where the future of crypto payments resides. With that, we can develop a system that enjoys the network effect that comes from billions of people.
▶️ 3Speak
HBD is trading at $0.86 on bittrex and even lower on Blocktrades. Doesn't sound very stable to me.
Cg
What is the volume on Bittrex? Can Hive wallets even be accessed on there?
As @forexbrokr pointed out, HBD is showing a lot more stability on the DeFi applications.
Posted Using LeoFinance Beta
It's a low volume (but regardless of volume the other real stable coins are still $1) and of course you can access wallets there, which is why my HBD is sitting on that exchange.
Don't know anything about the DeFi apps, but again, if HBD was a real stable coin, I'd be able to sell it for $1 on all apps.
Cg
Now check the HBD price on the internal market and the bHBD price on Pancake.
Looks pretty stable to me ;)
Posted Using LeoFinance Beta
The internal market is worthless if when I then go to convert my sold HBD I get less than $1.
I shouldn't have to learn about bHBD and Pancake, I have no idea what those two things are. All I know is when I try and sell Tether or USDC I can do so for one dollar, the same price I bought it for. I cannot do that with HBD, you guys can carry on deluding yourself and circlejerking your way to oblivion, but don't expect me to be a sheep just because I want votes. I'll tell it like it is, HBD is not and never will be a stable coin, so leave it the fuck alone and allow it to go up as much as it wants.
Check out this list of actual stable coins (though there are a couple of imposters on there)
What do you notice? Have you sprained your wrist from scrolling to find HBD on the list? :)
Cg
Yep, you got us cj.
All the best.
Posted Using LeoFinance Beta
Once again you have extremely honest and knowledgeable answers to this entire situation. And absolutely stable coins are going to be absolutely needed for Market transactions.
A lot of the fees are going to have to be microscaled for a lot of people to really start using all this technology in day to day transactions.
We still have a lot of work ahead of us. However, there is a great number of people looking at making it reality.
Posted Using LeoFinance Beta
I absolutely agree the future is looking very bright for us
I think there needs to be a lot more HBD before HBD can really take place. I wonder if there is any stablecoin that will be backed by a token but will have enough liquidity to transact in. Then again, who knows how much HBD will be there in a decade.
Posted Using LeoFinance Beta
The difference is that $HIVE can be converted to create HBD. Right now, there is no incentive to do that since the use cases are still rather limited.
Posted Using LeoFinance Beta
The rewards earned on this comment will go directly to the people( @rzc24-nftbbg ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
Short Summary:
In this video, Task discusses the potential of stablecoins to become a crucial component of the future digital economy due to their stability and familiarity. He highlights the importance of regulatory compliance and network effects in determining the success of stablecoins. Additionally, Task delves into the evolving digital world, mentioning the possible integration of virtual realms, AI, and the need for a significant expansion in the money supply. Task emphasizes the necessity of stablecoins in reducing volatility in transactions and foresees a widespread adoption of cryptocurrency in the near future.
Detailed Article:
The video centers around Task's analysis of stablecoins and their pivotal role in the mainstream adoption of cryptocurrency in the emerging digital economy. Task refrains from predicting specific winners among stablecoins like Tether, USDC, and HBD due to the numerous variables influencing their success. However, he expresses optimism about HBD, especially if the Hive community continues to develop effectively.
Task highlights the significance of algorithmic stablecoins, particularly those backed by assets like Hive, in providing stability and value. He stresses the importance of regulatory compliance, noting USDC's advantage in this aspect due to Circle's demonstrated commitment to adherence. Task critiques Tether's uncertain stance on compliance while pointing out the potential success of BUSD given Binance's establishment as a platform default stablecoin.
Moreover, he discusses the exponential growth of the digital economy, emphasizing the need for tens of trillions of stablecoins to facilitate transactions in virtual realms like the metaverse. Task underscores the necessity of stablecoins' stability in contrast to the volatile nature of other cryptocurrencies like Bitcoin, mentioning transaction delays and potential loss factors that hinder wide-scale adoption for daily transactions.
Task also touches on the network effect's pivotal role in the adoption of stablecoins, especially as the digital population expands globally. He envisions stability in the digital economy through the growth of stablecoins, anticipating a shift towards cryptocurrency usage by the majority of internet users in the future. Task predicts a move towards digital integration in commerce, necessitating the reliance on stablecoins to mitigate volatility risks associated with traditional cryptocurrencies like Bitcoin.
In conclusion, Task expresses his enthusiasm for the potential of stablecoins, particularly mentioning Hive and HBD, to revolutionize the digital economy. He emphasizes the crucial role stablecoins will play in reducing transaction volatility and facilitating widespread adoption of cryptocurrencies in various digital transactions and virtual realms. Task's comprehensive analysis provides valuable insights into the future landscape of stablecoins and their pivotal role in shaping the digital economy.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.