Topic: Europe Will be first to use Stablecoins and btc crypto - page 2. (Read 254 times)

I'm not sure where you got this theory or information from or this is just a random claim you have but I strongly disagree with you. First, you have a baseless claim and seem to only post according to your personal perception and feelings regarding the Euro. Second, please do not expect a fruitful smart discussion by posting something like this without being backed up or citing credible sources as most of us will only find your post ridiculous, if this is an opinion on your end then it would have been better to revise your words and use proper terms to deliver your message or opinion more accurately as opposed to what your post is doing now, as if you are claiming that what you have stated is true and credible.

In fact, to backed my own answer as to why I disagree with your baseless claim, that Euro is doing just fine here is an article by the European Central Bank: https://www.ecb.europa.eu/pub/ire/html/ecb.ire202306~d334007ede.en.html

In this article it was stated that despite the effects of the war between Russia and Ukraine, as well as the effects of inflation, the Euro remains the second most important currency in the international monetary system. Moreover, according to the same article the share of Euro in global official holdings of foreign exchange reserves increased from 0.5% to 20.5%.

For more understanding and actually knowing the current state of Euro, I suggest you visit the link.

As most users mentioned what OP have said is a baseless claim. Being the official currency of 19 member states of European union is much more stronger than USD. It is the second largest in terms of reserve and the most traded currency next to USD. European countries were facing bad economic situation, just on that we can't be conclusive on bitcoin and other cryptocurrencies getting adopted as the primary currency. The strength of currency is determined by the purchasing power and it is not than down as OP had compared with Zimbabwe currency.

I am aware that Germany has gone into recession. I don't think the whole of Europe is in that bad shape. Of course the war has its own repercussions, that doesn't mean Euro is slowly dying. Our own petro dollars might face an issue after Saudia joined the BRICS group. That doesn't mean USD is in bad position at the moment. I doubt Europe will come into such a situation wherein they have to be dependent in cryptocurrency. It would take many many years for the economic situation of Europe to crumble. For now it is still okay and we don't need to panic.

Even if we consider your theory is right then can you please explain why would they use stable coins as back bone for the euro? What made you to come to that conclusion because it is itself has no basis at all. Just because we have crypto currency around doesn’t mean any government would just jump out of nowhere and start considering stablecoins as the back ups. I mean there are traditional precious things such as gold, oil, or may be treasure like gold bonds and what not. Stablecoins are more dangerous and risky to Back national currency. That’s lot to process like that. Financial ecosystem does not work like that mate.

That makes no sense!
Governments look for control, specially on the economy and the currency people use. They will always fight tooth and nail to keep that control. Which means they are not willing to accept a decentralized currency like bitcoin which they can never exert any form of control over its price, its network or to apply any form of censorship like they do in centralized fiat system.

When it comes to cryptocurrencies (specifically altcoins) they are too useless, flawed and with a short life to be accepted by any government least of which Europe that needs that authoritarian rule over civilian's money.

This is even more true when it comes to stablecoins that are centralized but in the control of a company that is usually not under a jurisdiction that they can control.

LOL
Europe's economy is facing a crisis for sure but it is not yet as big as the last one's like the one in the 70's and even when it grows to be just as big or even bigger, it still won't "kill euro", it will just weaken it.
And the solution is not to use bitcoin or any of the shitcoins you listed here.

Europe's economy is dumping but it won't be a few months.

It's not the war, the war is just he catalyst. The real reason is US milking Europe for all its worth so that US can survive.

LOL
Your whole comment sounds like someone who is bag-holding the shitcoins you listed here and are too shy to only list them as the replacement for euro so you also included bitcoin

your statement looks like it was written by this gentleman:



So either it's all a bait or you really have a lot of points to refine in your analysis. The fact that the euro is collapsing is certain, the fact that the currency that is used by probably 400 million people every day and is the reserve currency of many countries will not collapse in a few months is even more certain and it is even more certain it will not switch to USDT or BUSD that don't even have licence to mint new coins.

This is ridiculous! Euro can't disappear completely, let alone in several months. And I don't think crypto/stablecoins could be the replacement as any government is afraid of something they cannot control. And they surely can't control crypto.

EU countries will allow the use and use of cryptocurrencies and stablecoins based on the recommendations of the FATF and the development of their own experience on the conditions for their circulation, but they will never replace their own currency, the euro. The European Union is not looking for an alternative to the euro, as there is no need for it. Moreover, they will not replace the euro with cryptocurrency or stablecoins. Difficulties sometimes arise with all the currencies of the world, but this phenomenon is temporary.

Due to Russia's military invasion of Ukraine and the need to impose various economic sanctions against the aggressor, the costs of the EU countries have increased. However, this is a working moment and they are compensated by other introduced measures and mechanisms. Therefore, I see no reason to panic.

I have to strongly disagree with your post. Your argument is riddled with baseless claims and a lack of understanding of basic economic principles. First, Europe adopting cryptocurrencies like Bitcoin, or stablecoins as the primary currencies is highly unlikely and unrealistic. The euro is a well-established currency and it has proven its resilience over the years. Furthermore, your claim that Binance, or any other private company, holds enough power to replace national currencies in Europe is complete nonsense. On what facts are you basing that?


Only a complete fool can claim to know EVERYTHING!

Yes europe Will be first one who Will use crypto and btc and Stable coins.
Becouse euro can not survive any longer it's impossible and soon only legit currencies in Europe Will be btc eth or usdc usdt or busd becouse binance have enourmous power in Europe.

Many of you dont Even know but all the data and everything shows euro can not survive  If they hike eu rates that's useless If they lower rates then it Will be Zimbabwe dollar anyways
I give euro about life time few months maximum time then it Will be replaced first with USDT

NOW you asking how it could be happening? What's the trigger? It's war off course ... But actually main reason is that euro don't have backer.

You see i know everything with me you guys are smart Also i Will make my School and start teach the real knowledge about everything becouse there is barerly things what existing what i dont know.