Stablecoins seem like they would achieve most of the goals of the original cryptocurrencies such as Bitcoin:
- Decentralized transactions
- 24/7 access
- Low fees
- Store of value
I suppose the only drawback here is that they're issued from a centralized authority. That said, for practical purposes the vast majority of Bitcoin holders didn't mine their own coins either.
Despite this, no one on Twitter[1] seemed excited. In fact they seemed upset that Coinbase didn't announce support for their cryptocoin du jour (mostly Ripple or Cardano). This is a recurring theme on all the subreddits I've visited: People rarely care about the usage of their cryptocurrency, they're only interested in its price.
A cryptocurrency that stays the same value is not very interesting to traders and therefore most of the cryptocurrency community.
- Decentralized transactions
- 24/7 access
- Low fees
- Store of value
I suppose the only drawback here is that they're issued from a centralized authority. That said, for practical purposes the vast majority of Bitcoin holders didn't mine their own coins either.
Despite this, no one on Twitter[1] seemed excited. In fact they seemed upset that Coinbase didn't announce support for their cryptocoin du jour (mostly Ripple or Cardano). This is a recurring theme on all the subreddits I've visited: People rarely care about the usage of their cryptocurrency, they're only interested in its price.
A cryptocurrency that stays the same value is not very interesting to traders and therefore most of the cryptocurrency community.
[1] https://twitter.com/coinbase/status/1054764504259543041