Stable Coins Are Killing Bitcoin Through Starbucks!

Stablecoins are cryptocurrencies designed to minimize the effects of price volatility. To minimize volatility the value of a stable coin can be pegged to currency, or to exchange-traded commodities. An optimal cryptocurrency is supposed to be stable, scalable, private and decentralized.  This is what stable coins aim to do.

Bitcoin is hated for its price volatility. By the virtue of being the first crypto, it is also not as scalable as yet as the more advanced ones. It is not as private as people would like it to be. The currency is decentralized and thus praised for its concept that came out in a time when it was most needed that is after the 2008 financial market crash.

The House of Bitcoin, Best Brand Ever!

The number of cryptocurrencies expanded to a massive 2000+ in 2018. This meant that the coins and tokens in place are huge, the aggregate value is a big whopping amount of dollars that nobody would have thought when the breakthrough first happened.

Bitcoin is loved. It is celebrated as the first crypto. It is called the original one. Bitcoin Maximalists are people who think that bitcoin is the only real stuff. They call other coins altcoins when they are somewhat okay and shitcoins when they are absolutely terrible.

Bitcoin rings a sweet bell that touches upon notes of love for tech, advanced complex engineering and a vision to change the world. Other coins are simply not there yet, Ethereum is best known for its games and Smart Contracts. Litecoin is best known for its wannabe status in defeating bitcoin as the king and so forth.

Buying Coffee With A Coin, Losing Essence?

Owning bitcoin is a statement. Rebels do it. People hate the currency and only the ones with acquired taste buy it. It is not the kind you spend on coffee or pizza, it is not the everyday coin, it is a prized possession for enthusiasts and a jackpot that could be hit for financial traders.

Doing everyday things with bitcoin will dry out the beauty of it. It will evaporate the glory and convert it into a very ordinary thing.

What is Better? Bitcoin or Stable Coins?

Stable coins do aim to change the problems and to convert them into the strengths of cryptocurrency, they are an attempt to take us to a crypto singularity leading to a clean and stable environment for all to use and enjoy cryptos in any fashion that we like. That is when we can use it to store value and without having to worry about it diminishing. That is when bitcoin will not be a bubble, but until then, stable coins are a weak attempt, nothing more.

Khunsha Javed

A Filmmaker, PR enthusiast & Editor of BlockPublisher-Unfiltered. I like things that make my brain tingle. Email: khunsha@blockpublisher.com or editor.unfiltered@blockpublisher.com

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