Topic: Goverment try to take advange over instabilty in prices of stable coins - page 2. (Read 241 times)
December 16, 2023, 06:45:10 AM
There are things about which we are concerned about government control through CBDC, but I think it will also be an inevitable part of the acceptance and scale of the crypto market in the future. There will be controversy, but imo we probably as a user - investor should learn to accept and adapt to its changes. Previously, I had high hopes that CBDC would launch soon, but not as expected, the government needed a lot of time to research as well as appropriate economic market conditions to deploy it, but it was clearly of interest. Their interest in blockchain technology or the crypto market is growing.
December 16, 2023, 06:32:14 AM
This will definitely have impact on existing stable coins because we he already been skeptical about the stablecoins and I think I would definitely go with CBDC instead of stable coin because anyway both are eventually centralized at the end of the day and CBDC will have advantage over USDT/USDC and atleast it wouldn't disappear from market. I know both CBDC and Stablecoins don't hold real asset to back up their supply but we have no other option if we have to go for stablecoin.
December 16, 2023, 04:53:49 AM
Stablecoins are never meant for long-term storage if that is the case would you prefer CBDC over USDT or other centralized stablecoins which always struggle to be close to USD's value?
Well, the difference is that the government can just give notice to the other stable coins that are not backed by the government. So, stable coins even if they are centralized but if they're not backed by the government then they might have some problems towards compliance. If there's a stable coin that's decentralized, that's what I'll use and that's DAI. If there's another one that proven to be decentralized, I might use it as well.That is the right choice as well but DAI is never preferred by traders as their go-to stable coin but my question is if we have to pick one from a centralized stable coin issued by someone or CBDC issued by your government.
December 16, 2023, 03:42:00 AM
Stablecoins are never meant for long-term storage if that is the case would you prefer CBDC over USDT or other centralized stablecoins which always struggle to be close to USD's value?
Well, the difference is that the government can just give notice to the other stable coins that are not backed by the government. So, stable coins even if they are centralized but if they're not backed by the government then they might have some problems towards compliance. If there's a stable coin that's decentralized, that's what I'll use and that's DAI. If there's another one that proven to be decentralized, I might use it as well.That is the right choice as well but DAI is never preferred by traders as their go-to stable coin but my question is if we have to pick one from a centralized stable coin issued by someone or CBDC issued by your government.
December 16, 2023, 03:09:05 AM
Bank of Korea Governor Sees CBDC Introduction as Case for 'Urgency:' Report
Not much to read in the report part from the fact stable coins like USDT, USDC is struggling to keep up their purpose of stable coins now governments may push their CBDC tokens now to the crypto community as an alternative which is good or bad in your opinion?
Stablecoins are never meant for long-term storage if that is the case would you prefer CBDC over USDT or other centralized stablecoins which always struggle to be close to USD's value?
The intentions of the governments are clear, they are not happy that investors on this market can avoid their fiat with the use of stable coins, as even if they are regulated they do not have the same level of control they would have with their fiat or a CBDC, so they are doing what they can to destabilize those coins and then claim their CBDCs are the best alternative, however those coins are incredibly dangerous as they will give governments control over your finances like never before, and personally I will never use them regardless of how much they promoted them. Not much to read in the report part from the fact stable coins like USDT, USDC is struggling to keep up their purpose of stable coins now governments may push their CBDC tokens now to the crypto community as an alternative which is good or bad in your opinion?
Stablecoins are never meant for long-term storage if that is the case would you prefer CBDC over USDT or other centralized stablecoins which always struggle to be close to USD's value?
December 15, 2023, 06:25:42 PM
Bank of Korea Governor Sees CBDC Introduction as Case for 'Urgency:' Report
Not much to read in the report part from the fact stable coins like USDT, USDC is struggling to keep up their purpose of stable coins now governments may push their CBDC tokens now to the crypto community as an alternative which is good or bad in your opinion?
This is long overdue and they've been on it, I think a year ago or two already.Not much to read in the report part from the fact stable coins like USDT, USDC is struggling to keep up their purpose of stable coins now governments may push their CBDC tokens now to the crypto community as an alternative which is good or bad in your opinion?
Stablecoins are never meant for long-term storage if that is the case would you prefer CBDC over USDT or other centralized stablecoins which always struggle to be close to USD's value?
Well, the difference is that the government can just give notice to the other stable coins that are not backed by the government. So, stable coins even if they are centralized but if they're not backed by the government then they might have some problems towards compliance. If there's a stable coin that's decentralized, that's what I'll use and that's DAI. If there's another one that proven to be decentralized, I might use it as well. 
December 15, 2023, 05:36:24 PM
So long as those CBDCs are pegged to a traditional currency of the state, it means that they will always serve as an alternative to each other base on the currency demand and availability at all time and among various exchanges, just like the USDT which is the most popular among stablecoins and is listed almost on all the exchanges because that is the only to increased the stable coins functionality and adaptability at all time.
And on taking a stable coin as a long-term investment, it is a bad idea because its value is already pegged which means it can't increase beyond a certain limit, so what makes stablecoins different from keeping your money in the bank, is both a theme in operations and outcome.
And on taking a stable coin as a long-term investment, it is a bad idea because its value is already pegged which means it can't increase beyond a certain limit, so what makes stablecoins different from keeping your money in the bank, is both a theme in operations and outcome.
December 15, 2023, 03:33:09 PM
Bank of Korea Governor Sees CBDC Introduction as Case for 'Urgency:' Report
Not much to read in the report part from the fact stable coins like USDT, USDC is struggling to keep up their purpose of stable coins now governments may push their CBDC tokens now to the crypto community as an alternative which is good or bad in your opinion?
Stablecoins are never meant for long-term storage if that is the case would you prefer CBDC over USDT or other centralized stablecoins which always struggle to be close to USD's value?
Not much to read in the report part from the fact stable coins like USDT, USDC is struggling to keep up their purpose of stable coins now governments may push their CBDC tokens now to the crypto community as an alternative which is good or bad in your opinion?
Stablecoins are never meant for long-term storage if that is the case would you prefer CBDC over USDT or other centralized stablecoins which always struggle to be close to USD's value?
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