I do not understand the meaning of such cryptocurrency. Why base something on the dollar ? A large amount of dollars is produced and this is bypassing state standards. If you tie an altcoin to the dollar, such a coin will not be in demand.
Topic: Altcoin tied to USD? (Read 1510 times)
Altcoin if it is tied to the dollar, this will have a positive effect on the cryptocurrency as a whole, because you and I will be able to have cash in the first currency in the world, the US dollar. In this way we will become more confident.
The need to convert to the proper coin and navigate through multiple exchanges can make cashing out a confusing process. However, the middle of the week saw the market plummet nearly five percent in six hours before regaining that loss nearly as quick about a day later.
However, I am wondering if anyone has proposed an altcoin that was purely based upon the dollar/euro?
If you believe the white paper of the ROCKZ project, the cost of their token is supported by the Swiss franc. As an option for investment is suitable?
This is an old topic from 2012 well if you don't know bitcoin is still alive and kicking ass, this is 2019 and everything seem normal ,bitcoin won't die easily ,about the altcoins that are tied to USD are usdc and haven ,there are still many more
There will be some problem if every coin support USD or Euro but this will be great if altcoins based on USD. Now all top coin directly directly can convert to the USD.
I've never looked into altcoins, it seems like most of them aren't really offering anything new. However, I am wondering if anyone has proposed an altcoin that was purely based upon the dollar/euro?
I understand that many people may hate this idea because the "dollar is going to DIE DIE DIE!!" but bear with me and just forget about that for a minute.
What would be the challenges of an altcoin being entirely based on the dollar?
I can see a future where bitcoin fails, but the technology behind it implemented into a nations currency.
I understand that many people may hate this idea because the "dollar is going to DIE DIE DIE!!" but bear with me and just forget about that for a minute.
What would be the challenges of an altcoin being entirely based on the dollar?
I can see a future where bitcoin fails, but the technology behind it implemented into a nations currency.
Well, they just keep on creating altcoins that is Dollar based, meaning to say that they still care about the value of dollars and not about the value of cryptocurrency that might even replaced our fiats.
Seriously? USDT? I mean what is the tether if not an altcoin that is tied to usd ?
It is basically your money all in dollar but in crypto shape. You are getting dollars no matter what but with this way you can trade your coins from and to dollars anytime you want in multiple exchanges and its all tied to dollar. Do you want it in a different shape, do you want it to go up or down somehow ?
Because, dollar is not going up or down, inflation is something else, if you want an altcoin that is pegged to dollar but with inflation in mind that is not really that much acceptable, how are you going to make people trade on the inflation prices ?
The current tether is already chasing couple percent every single day, it is impossible to calculate inflation on top of the current system tether has.
It is basically your money all in dollar but in crypto shape. You are getting dollars no matter what but with this way you can trade your coins from and to dollars anytime you want in multiple exchanges and its all tied to dollar. Do you want it in a different shape, do you want it to go up or down somehow ?
Because, dollar is not going up or down, inflation is something else, if you want an altcoin that is pegged to dollar but with inflation in mind that is not really that much acceptable, how are you going to make people trade on the inflation prices ?
The current tether is already chasing couple percent every single day, it is impossible to calculate inflation on top of the current system tether has.
It is great to know that even 6 7 years ago people were so interested in fiat backed coins and now itis a reality with so many fiat backed to tokens most are backed by usd. I think next phase will bring fiat backed tokens representing other currencies like euro, gbp, dinar etc.
Yes you are right the next thing to be followed by us will be most crucial for all of the nearest altcoins to tied up with some of them good currencies and we can definitely say this will be a right move for the next generation.
It is great to know that even 6 7 years ago people were so interested in fiat backed coins and now itis a reality with so many fiat backed to tokens most are backed by usd. I think next phase will bring fiat backed tokens representing other currencies like euro, gbp, dinar etc.
I like cash more. And I exchange Bitcoins for cash. So I feel calmer and more confident.
It is great to know that even 6 7 years ago people were so interested in fiat backed coins and now itis a reality with so many fiat backed to tokens most are backed by usd. I think next phase will bring fiat backed tokens representing other currencies like euro, gbp, dinar etc.
I think regardless of bitcoin fail it will maintain its dominance and even be better considering it’s level of development
When it comes to been tied with usd, I think that’s only be on a short term basis as wel already have a lot of stable coins
Soon, we will need no stable coins anymore
When it comes to been tied with usd, I think that’s only be on a short term basis as wel already have a lot of stable coins
Soon, we will need no stable coins anymore
The investors who just invest on any crypto currencies to make money is the reason why USD influencing the altcins more.So it will be same until we are going to stop the trading for USD and just start using as means of payment.
I've never looked into altcoins, it seems like most of them aren't really offering anything new. However, I am wondering if anyone has proposed an altcoin that was purely based upon the dollar/euro?
I understand that many people may hate this idea because the "dollar is going to DIE DIE DIE!!" but bear with me and just forget about that for a minute.
What would be the challenges of an altcoin being entirely based on the dollar?
I can see a future where bitcoin fails, but the technology behind it implemented into a nations currency.
Interestingly, this topic was written in February 2012. Even then, they thought about having a cryptocurrency based on the dollar. Now this idea has come true and we have the so-called stable coins - USDT, TUSD, which are pegged to the dollar. True, this is not a fully-fledged cryptocurrency, it cannot be profitable and practically plays a supporting role in cryptocurrency, however it cannot be otherwise. I understand that many people may hate this idea because the "dollar is going to DIE DIE DIE!!" but bear with me and just forget about that for a minute.
What would be the challenges of an altcoin being entirely based on the dollar?
I can see a future where bitcoin fails, but the technology behind it implemented into a nations currency.
Was this firstever idea of a "stablecoin"?
Interesting find!
I somehow think that this guy was not expecting neither the level of centralization certain coins have, neither the number of stable coins that'll rise.
Or maybe at least the centralization and the fact they rely on other blockchain (ETH) to survive could be thought as "challenges".
The OP was done 7years ago but he must he a seer, a Nostradamus of a sort. I think we have the dollar altcoins now -Tether and the rest of them. Again, while bitcoin suffers the impact of the market, its blockchain tech thrives and has been adopted by several big firms.
For an altcoin to have USD as it's base, it will face so many challenges. What do you mean when you said dollar will Die? Or was that a mistake? Hmmm..
After seeing op got 7 merit with that post, i said wtf?
Later i saw it was on 2012 and he had a good vision.
Later i saw it was on 2012 and he had a good vision.
haha, this post is from 2012, and OP might be the first person to have the idea to make cryptocurrency backed up by fiat money. If only OP was the one who make his/her idea into reality, he might be a billionaire right now. Or maybe the founder of those stable coin read this OP post and implement this idea, lol 
it is certain that if bitcoin dies, the technology will be utilized for a country's bank system. Because of what? bitcoin has not yet been legalized, so it's still possible to disappear, while the dollar is the official currency that will never be replaced.
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