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Thepug

Why Stake urgently need stablecoins

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I have made a forum post about the idea of Stake needing to have USDT (Tether), which is always around $1, but I think that it is time that they really need to implement it, and introduce one.

Recently, I have been put off from doing any high risk bets because of the Bitcoin uncertainty. Today, the value is only at $6000, with it being $10000 only a couple months ago, as shown by the picture below:

image.thumb.png.76db5412603704ce90cfad7c55a26140.png

Being someone that doesn't like risking my bank roll, I would like to have money in my vault account on stake, but I'm finding that I'm simply having to store it externally in stablecoins. I think that this huge downturn in the price of bitcoin, ethereum, ripple and litecoin EMPHASISES that we need to have a stable coin on stake.

I haven't made any large bets for months because of this price uncertainty, and I really do hope that there are other people out there that also need stablecoins. It is just a shame that because of the bitcoin uncertainty, I just haven't been betting much here :/ 

Do you guys think that Stake need to act fast on this and introduce a stablecoin? If they don't, then there could be a worry that people will simply move back to fiat currency casinos. 

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Yes, like I said in this one: 

I thought about a token on Ethereum platform or something like that, still, I like this idea of yours, with all this volatility it'd be a good thing to have a Stake Coin - stablecoin!

People would like it, especially if it'd be listed on Binance right away! 🤑

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Yeah I totally agree. There has been lots of topics like this in the past few days when bitcoin was showing the sign of a huge dump. And now it's down to $6000 more or less. It has been down to $5500 and got back up in few minutes. It will take time getting back to $10,000. I'm still holding so let's see what happens. Hope stake adds some stablecoins.

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I also look forward to having a stable coin so that we can focus more on the game rather than on its value especially for people who play with high scores.  In recent days crypto has dropped like other assets.

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Yes I think this is a good idea if stake make his own coin. I saw few sites make their own coin and you buy this coin and play with this coin. This coin value not go up down just like a token. Maybe in future stake add this type coin.

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yes i read that post as well, and its right we damn need tether here today i was watching coinmarketcap and every crypto was down except tether because its stable at one rate, so in these times of crisis we must need tether here to store our money in this coin.

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It would be a good idea to add a stable coin in such situation. The fiat value of all cryptocurrencies have just gone down the roof and it will take time to recover, considering the amount of manipulation being done by the whales to create panic.

Gamblers cannot wait that long and I support your Idea. 

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I definitely agree with you @Thepug. The dramatic decrease in value of BTC and other cryptos were so abrupt that many players who have funds on Stake lost an ample amount of money. If your idea will soon be a reality, this could further be prevented in turn. Good suggestion and I am hoping this can be given consideration by the management. Cheers!

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Nah... no risk no fun.. If we want stablecoins, we can also just introduce $, € and other currencies... this is a crypto-casino, not a boring general online casino

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I am actually a person who likes the uncertainty of the bitcoin price, you can even make a profit out of that in some kinda way. But I understand how others might prefer the safety of a stablecoin, so yeah, I wouldn't have a problem if stake adds them, just wouldn't use it myself probably

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3 hours ago, cryptonesiac said:

Nah... no risk no fun.. If we want stablecoins, we can also just introduce $, € and other currencies... this is a crypto-casino, not a boring general online casino

I never said that the current crypto currencies were going to be removed, so adding one really shouldn’t be a concern for you. Some people want crypto in their stake vault, like myself, but I’m just not holding anything on the site at the moment because the price of everything on stake is decreasing. Having a stable coin will mean that I don’t have to worry about this, meaning that I will save more money on the site and gamble more.

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Its definitely a good idea for Stake to make his own coin. That will mean that there is no doubt a stability in terms of virtual currency, as well as it gives a good sense of security to players. Cryptocurrency is too volatile, since there is no central bank or authority governing the currency. Players should have the option to save money that is STABLE on site!!! 

Cheers and gl

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We talked about it for a long time. A stablecoin would be great!
However, in all this time, I have never seen any statement from the team or Eddie regarding this. Is that not in their plans?
The stake was supposed to have added a stablecoin around here since the beginning!

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Posted (edited)
23 hours ago, Dp10011 said:

We talked about it for a long time. A stablecoin would be great!
However, in all this time, I have never seen any statement from the team or Eddie regarding this. Is that not in their plans?
The stake was supposed to have added a stablecoin around here since the beginning!

I made a comment about in in the PrimeEdd stream before and he responded to it. He said how some people don’t like the risk with bitcoin and ethereum and they Stablecoin would be the solution to this.

Edited by Thepug

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49 minutes ago, Thepug said:

I made a comment about in in the PrimeEdd stream before and he responded to it. He said how some people don’t like the risk with bitcoin and ethereum and they Stablecoin would be the solution to this.

Oh, that's so great to hear, I'm  looking forward to the Stake token, since it's a no brainier to implement it, I hope they would do it this year, hell, even within a month or two!

Good news!

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We don't necessarily need a stable coin such as TETHER, they can add a few coins at once which aren't as jumpy, something like XLM, with a price similar to TRX, XRP or Doge, those aren't that bad as well.

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On 3/12/2020 at 5:12 PM, Thepug said:

I have made a forum post about the idea of Stake needing to have USDT (Tether), which is always around $1, but I think that it is time that they really need to implement it, and introduce one.

Recently, I have been put off from doing any high risk bets because of the Bitcoin uncertainty. Today, the value is only at $6000, with it being $10000 only a couple months ago, as shown by the picture below:

image.thumb.png.76db5412603704ce90cfad7c55a26140.png

Being someone that doesn't like risking my bank roll, I would like to have money in my vault account on stake, but I'm finding that I'm simply having to store it externally in stablecoins. I think that this huge downturn in the price of bitcoin, ethereum, ripple and litecoin EMPHASISES that we need to have a stable coin on stake.

I haven't made any large bets for months because of this price uncertainty, and I really do hope that there are other people out there that also need stablecoins. It is just a shame that because of the bitcoin uncertainty, I just haven't been betting much here :/ 

Do you guys think that Stake need to act fast on this and introduce a stablecoin? If they don't, then there could be a worry that people will simply move back to fiat currency casinos. 

You say right stake is a big online casino and crypto currency price up and down time to time even some times just within 1,2 hours 30 percent down. I think if stake lonch a token type coin this is better.

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Stablecoins have very strict measures which states that they will not allow their coins to be used in gambling. They also have KYC. All USDT, PAX and TUSD adheres to that so I don't think we will have one on the list soon.

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maybe a stable coin can be added but it's not popular so eddie doesn't want to take the risk of adding unpopular coins on the site, although eddie also loses when bitcoin prices go down but of course he can sell directly when he gets the profit of the site.

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Even we do, stablecoin providers will not allow their coins to be used in illicit activities such as gambling. I will agree than it will be very cool to have one, but it will never be if we cannot use it in time being.

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They have already started struggling with Bitcoin. Suddenly I do not see a lot post coming up because of the issue they had. I mean what were they thinking? Without the Bitcoin incentive I am sure many members will leave.

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