Stable coin for Every Currency | Bitcointalksearch.org

imoet

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Quote from: Pffrt on February 02, 2020, 08:26:24 AM

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
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In my opinion to make stable coin for every currency needs hard effort. Because it is really difficult to make it as their own digital money. Bitcoin absolutely will occur in every part of the country but to exist as digital money of every country will need big changes.

thisnewcoin

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Actually, I don't think any country will allow Tether or other stable coins as their national digital currency! If the government likes the crypto idea and if they want to imply it then I am sure all those governments will create their own crypto stable coins to keep the money inside the country!

zuziekatee

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Every country will probably want to work towards a stable coin. At least to make people want to use a lot use it. I am not sure if Bitcoin will much be able to achieve it's goal of being a currency if this happens. People will just be using it as investment.

thesmallgod

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It is no meaning if every country started having their stablecoin because it is just an alternative to a stable currency just like the name suggest. It does not depreciate or appreciate. It has a fixed price compare to other cryptocurrencies

omone1

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Why will tether help nations to creat their stable coins? Various nations should do that themselves and see to it that it doesn't become another problem for the economy because of political affiliation.

CrownMade423

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I think it's important to make a decision before taking any action. Because it is not just a privileged part of a few or a nation, but the entire nation is demanding it. Therefore, the key word of all decisions will be the happiness of the greatest amount of people.

hulla

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Quote from: Pffrt on February 02, 2020, 08:26:24 AM

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.

Tether or others statblecoin (like Gold stablecoin) in the market will only create stablecoin for all currency in the world if only they have an agreement with each country government just like the Angullia government and Temtum project did and i dont see that happening due to the government centralization, they will prefer to issue their national cryptocurrency by themselve.

hiburak

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Eventually the governments will start their own stable-coins. These stablecoins will not be decentralized, but they may be using the blockchain technology, which will help cryptocurrencies and stablecoins gain some more traction. Usdt as a centralized stablecoin may face some pressure from governments though, because it's getting too big.

tyoA7X

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A stable coin is perfect for every altcoin because with a stable pair of coins will make the price of altcoin awake I prefer to trade altcoin with USDT pairs, it's easy to guess and it's easy to get profit

Bagiira

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Quote from: Pffrt on February 02, 2020, 08:26:24 AM

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.

I don’t quite understand how the stable coin differs from the real currency accepted in the country. And why will they be in great demand?

Skieleton

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Quote from: Pffrt on February 02, 2020, 08:26:24 AM

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.

What is stability? Those present cannot be guaranteed. The whole economy is glorious. The fact is that such a currency would be surest but would also be regulated ... and dependent. This is already changing the form of things ...

Ucy

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Quote from: @baoli on May 02, 2020, 11:36:01 AM

If that happens and it is not decentralised then we go back to what currency used to be before cryptocurrency came. Hitherto, the block chain idea also comes with other concepts on it like data sharing and App management. It is not all about currency exchange

Exactly. The decentralization part is what makes real crypto unique and good.
I think I am a abit ok with countries having their own coins, as long as the coins share thesame/similar principles with Bitcoin/Blockchain. They'll need to be very decentralized, transparent, immutable, privacy-friendly/anonymous, deflationary, safe/secure, permissionless/trustless,etc for the safety of global users. Small autonomous nations (that adhere to the principles) can fill the gap if the current nations don't.

poodle63

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Quote from: Crypto_lion on May 06, 2020, 03:18:46 AM

We must be aiming at a place where the decentralized currency replace the existing centralised currency and not creating a new stable currency for every available Fiat

people get too used with fiat they can't stray away from it and consider other option as a blatant scam while it's actually not. stablecoin could become a bridge for people that wants to use crypto but are too afraid due to the circulating rumour about how bad crypto by some uneducated people.

Bonwin

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Quote from: rathaha10 on April 28, 2020, 11:25:18 AM

Quote from: Pffrt on February 02, 2020, 08:26:24 AM

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.

I believe once cryptocurrency gets more adoption, every country that fully legalizes the activities of cryptocurrency will create their own digital currency. This point is validated by the proposed cryptocurrency to be created by china. I believe other countries will follow suit as governments will always want to dominate any sector as much as possible. However, let's wait for what the future holds

This is more like the normal fiat that every country has and if such should happen, it will reduce the relevance of tether. However, tether and other stablecoins that are currently in the system will still have more influx if users prefer them to those issued by their countries.
One of the problems that will be associated with the stablecoins created by individual countries is that the governments will have too much control over them because they are fully centralized and there will be lots of limitations for users.
Tether might have its own issue too, which is also associated with centralization, but there are still fully decentralized stablecoins.

TastyChillySauce00

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Assuming the company that's going to create stablecoin across the world with various currency could overcome all the legal problems and the hurdle it's still quite risky, the recent rumours says that the authorities considering to enforce strict law toward stablecoin or even worse banning them, not to mention that stablecoin could be a double-edged sword, it could either contribute to the economy or making a fragile economy becomes even fragile.

Crypto_lion

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We must be aiming at a place where the decentralized currency replace the existing centralised currency and not creating a new stable currency for every available Fiat

Ozero

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Quote from: Damjay101 on February 22, 2020, 04:54:08 AM

Will that make any sense if all coin have stable coin? I feel it will be a means of have too many other shit coin and even more scam projects. There are too many projects already which now makes it difficult to know the real ones. Greed is really setting into the game. This was not the reason for Crypto initially.

I think that soon we will have many stable coins in the form of digitized currencies of various states, that is, stable coins of the central banks of these states. They will play the leading role among stable coins. Of the various private and commercial stable coins, only those that have worked well will remain.
This month, a stable coin of the central bank of China should already appear. If it will be a good success, and most likely it will be so, then a boom of similar coins of other states will come. The digitized coins of states to a large extent should supplant the paper money of these states, which cease to be effective due to their high cost, quick wear and other circumstances. However, paper money will remain in circulation for a long time to come.

7788bitcoin

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Quote from: DarkDays on May 05, 2020, 03:36:19 PM

That said, Tether did just release tether gold (XAUT) and will likely release a tether euro soon. Beyond that, I can't imagine we'll get stablecoins for less prominent cryptocurrencies in the next year, due to the aforementioned lack of demand.

There are many projects that claim that they are physical gold backed crypto but is there any transparency to their claims is to be verified, with tether they were not transparent with the decisions they made, they claimed every tether was backed by US dollar but later we all found that it was not true and i have to think twice before trusting them with anything.

As for having a stable coin for every currency, is it even viable and there is no point in doing so.

andycarrol

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Quote from: GreenStox on May 05, 2020, 03:56:50 PM

Of course, the government wants to participate if crypto advances in the future or is accepted in all countries.
They compete to make their own coins so they can control the market or participate in the plan.
but coins made by the government will later become centralized because there is a center that governs them.

but if there is a coin that is easily manipulated by the government itself then I think it will only make worse of the coin itself because it will certainly have a negative impact on the users of the coin, as happened to usdt which in my opinion is the only stable coin that can manipulated.

GreenStox

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Of course, the government wants to participate if crypto advances in the future or is accepted in all countries.
They compete to make their own coins so they can control the market or participate in the plan.
but coins made by the government will later become centralized because there is a center that governs them.

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