Need not just stimulus but usdt stimulus - page 2.

Dragonfund

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Quote from: cryptoboss2020 on December 14, 2020, 08:10:20 PM

To help crypto we need usdt stimulus.

Exchangers should do air drops of usdt to active traders. Yes the government do stimulus and cheap loans but yet this funds are not going in crypto economy so fed should directly start working with USDT and Every time fed printing money there will be USDT airdrops also for crypto traders and active traders rewards

What do government need USDT for? They were even against the idea of USDT as digital currency, I don't think they need solicitor like Usdt before they distribute stimulus to every citizen.
If that happens, I wonder how Bitcoin will react to such a large amount of minted USDT, it has always been market tradition that bitcoin tend to gain value when Usdt is minted on blockchain because traders believe that will bring inflow of money.

disconnectme

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Quote from: cryptoboss2020 on December 14, 2020, 08:10:20 PM

To help crypto we need usdt stimulus.

Exchangers should do air drops of usdt to active traders. Yes the government do stimulus and cheap loans but yet this funds are not going in crypto economy so fed should directly start working with USDT and Every time fed printing money there will be USDT airdrops also for crypto traders and active traders rewards

Are you a dreamer or what, if exchange start airdropping USDT, then what do you think you happen, bubble of the bubble and the crash will likely end the space, can you buy Doge for $1. There are several ways to get free money in the space and this is areas you need to exploit.

el kaka22

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Free money in crypto should not exist, we have seen airdrops and how successful they are (they are mostly not) and that means if we do airdrops of USDT, that means tether would have to pay, how could we back something up 1to1 ratio if we do not pay for it?

If Tether company prints out 1 billion dollars worth of USDT, they sell it for 1 billion dollars, which means they have a 1to1 backing ratio, if we end up with printing 1 billion USDT and not pay them for it, how are they going to manage to back that up?

There is no way they could pay for something like that, they would basically be failing to back it 1to1 ratio and that would mean usdt will worth less than 1 dollars. This is the reason why we do not have usdt stimulus, because usdt is not the government and they always need to back it with real money that they got from us and if they get nothing, they can't back it.

cryptoboss2020

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Quote from: slapper on December 23, 2020, 07:53:11 AM

Lol. You can't expect people to give you free money like that. No one in this world is insane enough to send you usdt without having any requirement. It is you who need to work and earn money yourself. Don't beg anyone for tips like that. Airdrops are often but they are only for new projects or small coins. An exchange can likely have more than a million customers. If they spent 1 buck for every trader, it would cost them 1$ million usdt for a big stimulus

The stimulus is necessary to push our economy forward. But the responsibility is for the government. An exchange has nothing to do but operate its business for any trader who wants to make money from buying/selling coin. By this action, they will earn usdt by themselves. In spite of a high number of losers, learn to trade is not very hard. I guarantee that in a month, you will have fundamental knowledge if you are willing to learn mostly every day.

Or at least find a job, it is the easiest thing to do on this planet. Then, buy bitcoin

Its not free money!!
I put it back in the crypto economy!

slapper

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Lol. You can't expect people to give you free money like that. No one in this world is insane enough to send you usdt without having any requirement. It is you who need to work and earn money yourself. Don't beg anyone for tips like that. Airdrops are often but they are only for new projects or small coins. An exchange can likely have more than a million customers. If they spent 1 buck for every trader, it would cost them 1$ million usdt for a big stimulus

The stimulus is necessary to push our economy forward. But the responsibility is for the government. An exchange has nothing to do but operate its business for any trader who wants to make money from buying/selling coin. By this action, they will earn usdt by themselves. In spite of a high number of losers, learn to trade is not very hard. I guarantee that in a month, you will have fundamental knowledge if you are willing to learn mostly every day.

Or at least find a job, it is the easiest thing to do on this planet. Then, buy bitcoin

cryptoboss2020

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Quote from: davis196 on December 23, 2020, 07:03:05 AM

Can cryptocurrency exchanges create USDT coins out of thin air and giveaway those coins just like that?
What will be the value of USDT since the newly created USDT coins won't be backed by actual USD?
Is USDT an actual cryptocurrency,or is it just a pseudo-coin,that can be created by anyone?
If creating USDT is so easy,then I would like to create and sell around 100M USDT,then go on a vacation and live a millionaire lifestyle in Monte Carlo. Grin

Anyway,if such airdrops really happen,USDT will turn into another dead altcoin,that is worth 0.0001 cents on coinmarketcap.

The theter is controlled by USA officials.
They make sure it don't exeed too much.
If for Some misstake it will they just froze usdt in wallets.
Everything in are organised by our world leaders.
You just sit Back relax and enjoy the show.

nemey

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In my opinion, the existence of USDT is expected to be able to stimulate the progress of the crypto economy. however, between USD and USDT are different, different in the sense that they are not made by the same company. In the real world maybe USD as a global currency. And tether companies in crypto want to do something similar by issuing this USDT. But in my opinion the USDT has succeeded in becoming a stable coin.

davis196

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Can cryptocurrency exchanges create USDT coins out of thin air and giveaway those coins just like that?
What will be the value of USDT since the newly created USDT coins won't be backed by actual USD?
Is USDT an actual cryptocurrency,or is it just a pseudo-coin,that can be created by anyone?
If creating USDT is so easy,then I would like to create and sell around 100M USDT,then go on a vacation and live a millionaire lifestyle in Monte Carlo. Grin

Anyway,if such airdrops really happen,USDT will turn into another dead altcoin,that is worth 0.0001 cents on coinmarketcap.

cryptoboss2020

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Quote from: The Sceptical Chymist on December 22, 2020, 03:08:07 PM

Quote from: cryptoboss2020 on December 14, 2020, 08:10:20 PM

Exchangers should do air drops of usdt to active traders.

What? First of all, I think the government (I'm talking the United States here) is being irresponsible by sending out even more stimulus checks instead of trying to get people back to work. Who do you think is going to pay for all of that money? You guessed it, the taxpayers.....eventually.

Second, crypto doesn't need any stimulating, because even a cursory glance at bitcoin's price chart would tell you that it's thriving and isn't exactly in need of more speculation, which is exactly what would happen if exchanges started throwing money at their customers. Then we'd be in a real bubble that would probably put 2017 to shame.

You've got some seriously crazy ideas, OP. This one in particular doesn't make a hell of a lot of sense.

I dont care who's gona pay!
I dont live in USA and if i would well instead of complaining ill educate myself USA not so much now but it was Long ago Land of opportunities.

Let them make printer go brrrrrr........ thats the style of fed.
Thank god they think same way i do

The Sceptical Chymist

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Quote from: cryptoboss2020 on December 14, 2020, 08:10:20 PM

Exchangers should do air drops of usdt to active traders.

What? First of all, I think the government (I'm talking the United States here) is being irresponsible by sending out even more stimulus checks instead of trying to get people back to work. Who do you think is going to pay for all of that money? You guessed it, the taxpayers.....eventually.

Second, crypto doesn't need any stimulating, because even a cursory glance at bitcoin's price chart would tell you that it's thriving and isn't exactly in need of more speculation, which is exactly what would happen if exchanges started throwing money at their customers. Then we'd be in a real bubble that would probably put 2017 to shame.

You've got some seriously crazy ideas, OP. This one in particular doesn't make a hell of a lot of sense.

dothebeats

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This does not guarantee that the money would go back to the economy. The purpose of the stimulus fund is to actually stimulate the economy and make sure that money is revolving around the domestic economy to help some of the main industry/sectors. Traders would just make money out of money, and it will only go amongst themselves and not help the immediate economy, so why should they be given free money?

Fortify

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Weird how this thread was dug up from nowhere a week after it was first posted. Probably due to the fact that a bill that has just passed through Congress which will end up giving a $600 handout to every American tax payer for free if it is signed off by the President. It sounds more dollars will be printed to pay for it, but the average American has lacked government support which was present in many other countries across the last 9 months of Covid. A little bit late and probably a lot less than required, but it is a good start because people need help right now and it's always possible to pay it off later. Some of this money will inevitably feed into Bitcoin.

wxa7115

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Quote from: cryptoboss2020 on December 14, 2020, 08:10:20 PM

To help crypto we need usdt stimulus.

Exchangers should do air drops of usdt to active traders. Yes the government do stimulus and cheap loans but yet this funds are not going in crypto economy so fed should directly start working with USDT and Every time fed printing money there will be USDT airdrops also for crypto traders and active traders rewards

They are doing that already albeit indirectly, if you receive a stimulus check then use it to buy stable coins and boom you have your stimulus in stable coins, there is no need to try to reach exchanges to make this a reality, if we let people decide by themselves then a lot of money will come to this market, some money will go to other markets but that is fine too.

Still, this stimulus checks are going to cause inflation, while to stock market is happy with those measures because it means it keeps the party going on the rest of the economy keeps suffering and you cannot solve an economic crisis that was caused by cheap credit and printing money with more loans and money out of the printing machine.

loopes

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Quote from: bittreo on December 21, 2020, 11:46:52 PM

Exactly my point. Yes, government provides stimulus in various sector like housing, agriculture, local businesses but for traders? I never heard of that, at least in my countries.

Goverment provides stimulus for those kind of sector because those are productive sector to earn money that make the economic cycle keeps turning. But what about stimulus for trader ? I am sure that trading is very risky to do, so if goverment give stimulus for this sector they will only spend their treasury cash fund for a very potentially risk things. It will not make significant growth of economy however the goverment especially the federal reserve give stimulus for property, agriculture etc to help economic growth.

cryptoboss2020

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Quote from: Kupid002 on December 22, 2020, 11:52:56 AM

Quote from: cryptoboss2020 on December 14, 2020, 08:10:20 PM

To help crypto we need usdt stimulus.

Exchangers should do air drops of usdt to active traders. Yes the government do stimulus and cheap loans but yet this funds are not going in crypto economy so fed should directly start working with USDT and Every time fed printing money there will be USDT airdrops also for crypto traders and active traders rewards

What will be the purpose of giving free money? They open an exchange to earn from it's users so why they will give it?You want to get some free money just because you are active traders ? Nah that's not how it works if you want to earn money do trade and never ask any to give it you or from government unless you are in situations need to be helped .

Its good for crypto traders!
Crypto traders are business minded people and it can help the crypto adoption for some countries like Zimbabwe Venezuela nigeria.
But business minded indviduals should get always More money becouse thanks for business minded people the world is running its like in your blood you active and want to trade and do deals or either you dont want.
When the society start stopping to support the business minded indviduals its always bad for Economics and business activity!

cryptoboss2020

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Quote from: Darker45 on December 22, 2020, 07:51:28 AM

If the government-- I honestly don't know which government (perhaps China, being the one in control of Hong Kong where USDT is based)-- can do something good in relation to USDT, it is that it should compel USDT for an honest third-party audit. If the private company behind USDT will resist or avoid it, then the government should just shut it down. That's the best thing the government can do now.

Come again, did you say every time the Fed prints money out of thin air there should also be a 1:1 equivalent of USDT minted out of thin air? For goodness' sake! Your mind seems to be made of thin air.

USA dollars of 25% reserve gives right to mint 75% of USDT.

Kupid002

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Quote from: cryptoboss2020 on December 14, 2020, 08:10:20 PM

To help crypto we need usdt stimulus.

Exchangers should do air drops of usdt to active traders. Yes the government do stimulus and cheap loans but yet this funds are not going in crypto economy so fed should directly start working with USDT and Every time fed printing money there will be USDT airdrops also for crypto traders and active traders rewards

What will be the purpose of giving free money? They open an exchange to earn from it's users so why they will give it?You want to get some free money just because you are active traders ? Nah that's not how it works if you want to earn money do trade and never ask any to give it you or from government unless you are in situations need to be helped .

Darker45

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If the government-- I honestly don't know which government (perhaps China, being the one in control of Hong Kong where USDT is based)-- can do something good in relation to USDT, it is that it should compel USDT for an honest third-party audit. If the private company behind USDT will resist or avoid it, then the government should just shut it down. That's the best thing the government can do now.

Come again, did you say every time the Fed prints money out of thin air there should also be a 1:1 equivalent of USDT minted out of thin air? For goodness' sake! Your mind seems to be made of thin air.

cryptoboss2020

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Quote from: Dead_M on December 22, 2020, 05:30:15 AM

How do you compare government and usdt drops I think it’s two totally different things

If they are different things so much there would not have USDT allowed.
USDT is pegged to 1:1 to USA dollars then it need to comply with USA laws not with all but with some of them.

Even bitcoin is allowed to be used by government so they cant ban the btc but they can shut off the Mining and cash/fiat to btc transactions.

But they keep bitcoin alive becouse its new money system and when the time right the btc and crypto Will have bigger use case.

We dance the tune of government either we know this or not.

Dead_M

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How do you compare government and usdt drops I think it’s two totally different things

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