Stable coin for Every Currency - page 4.

Coyster

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Quote from: Chrystora123 on February 23, 2020, 01:37:06 PM

I personally predict that in the future, governments in all countries in the world will make their own country's cryptocurrency. just look at the example of China which announced that they would circulate their own country's cryptocurrency and certainly, this will be followed by many countries in the future.. I am very confident, stable coins will circulate together with fiat currency in the future or even replace fiat currencies.

This prediction seems impossible in the nearest future imo, cryptocurrencies have been used for years now, but till now how many countries have adopted their own cryptocurrency, none as of yet, China wants to, but till now that are yet to do so, government have no reason to be eager to create a national cryptocurrency, that energy would rather be employed in improving their fiat currency.

A stable coin for every currency is "asking too much", even if there are to be more stable coins they'll still be in the most popular currencies in the world and those of countries with the best economy.

TheGreatPython

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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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Governments would only consider to generate their own stable coin only if the cryptocurrencies are been legalized globally. This seems a rare situation though. I think perhaps tether would launch many other stable coins which might be used for P2P transactions in each country. This might even get more reliable and a number of people who are not that aware about buying and selling cryptocurrencies would find a easier way to do so. This might be something which would be needed.

There should be a stable coin for each national currency which would have the price same as those currencies. This would allow us to easily convert bitcoins into our fiat currency without paying excess charges.

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Quote from: slashz9 on February 23, 2020, 01:49:18 PM

of course if all countries have received crypto, of course the demand for crypto will increase in terms of any kind of trading, buying and selling or ico coming out will be more and more.
every country will certainly make their own stable coins whether they are made by exchanges in each country, or the government and local banks also make them.

I think that countries will not produce their coins. This makes no sense. It seems to me that only China is able to launch a national cryptocurrency.

go1lo2va3

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Quote from: slashz9 on February 23, 2020, 01:49:18 PM

of course if all countries have received crypto, of course the demand for crypto will increase in terms of any kind of trading, buying and selling or ico coming out will be more and more.
every country will certainly make their own stable coins whether they are made by exchanges in each country, or the government and local banks also make them.

I believe that most of govs won't keep up with crypto companies, so I think its more possible for govs to adopt crypto payment options, but not the cryptocurrencies itself

slashz9

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of course if all countries have received crypto, of course the demand for crypto will increase in terms of any kind of trading, buying and selling or ico coming out will be more and more.
every country will certainly make their own stable coins whether they are made by exchanges in each country, or the government and local banks also make them.

Ozero

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Quote from: Ucy on February 02, 2020, 09:01:43 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?
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I think stablecoin for every country is a good idea. They all need to be decentralized stablecoin though, so we don't have the problem of abuse like we have on centralized/fiat currencies today.
Current government controlled stable currencies are less transparent and prone to abuses. The public don't know how these currencies are run. While their decentralized versions are more transparent and less prone to abuse. The public knows exactly how they are run

Stable state coins cannot be decentralized. Stable coins of states are the same centralized currency of states, only in digitized form. Therefore, there will be no significant difference between the currency of states and their stable coins. The difference is only in the form and method of their use. However, stable state coins will be more convenient to use and I hope that their appearance will affect the overall improvement in cryptocurrency liquidity.

Chrystora123

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

snip..

I personally predict that in the future, governments in all countries in the world will make their own country's cryptocurrency. just look at the example of China which announced that they would circulate their own country's cryptocurrency and certainly, this will be followed by many countries in the future.. I am very confident, stable coins will circulate together with fiat currency in the future or even replace fiat currencies.

Free1bitco.in

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I believe that the government will make their cryptocurrency at the end, just like China. however, I don't think they will let a company like USDT take control of the city. if the world starts to see cryptocurrency as a very good alternative, then the government needs to make its own crypto to meet people's needs. I am not sure that the government will recognize a stable coin beyond their control.

TheGreatPython

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Quote from: oscarftw on February 22, 2020, 06:49:55 PM

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.

Government could create own currency but you can't call it cryptocurrency. Digital currency already available in several country. Next situation is about stable coin, why any government could do that where government can't control it or monitoring it. Almost 6-7 stablecoin already exists in cryptocurrency but any coin couldn't put control on government.

Why would we need a number of stable coins over here? We already have some which are enough I guess. We crypto enthusiasts need coins having high volatility which would allow us to make enormous profits in minimum times. Such stable coins might only be useful to cash-out funds or shift onto some other coin but when it comes to trading, it would never be worth trading with these stable coins.

This coins would be best if ever the government launches them but they might not really gain that demand if they are been launched in the decentralized space. We need highly volatile coins and not stable coins. Forex trading is always a option if you ever like stable coins.

Henrytrust

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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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Your question is quite funny, tether can't be creating stable coin for all the currencies in the world. It would interest you to know that we have several stable coin in the cryptocurrency space, though tether is the most popular. Any country can choose to digitize their national currency and they could do that without the assistance of any project including tether.

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Quote from: whyrqa on February 23, 2020, 03:20:29 AM

I think that it is possible that each country will be able to create its own national cryptocurrency, which will be supported by real fiat money. But there is a very big problem, because of which the value of this cryptocurrency will be a big question. If the government always uses manipulations in the state financial system, printing new money, and the cryptocurrency must have a certain amount of its coins, then the national cryptocurrency will lose value Not because of poor demand in the cryptocurrency market, but because of poor indicators of the value of the national currency .

This might not make the crytocurrencies work along with the centralized currencies. This would always be a major drawback. If we ever want stable coins which could be similar to various centralized coins than we would need to copy the centralized financial monetary system and build various stable coin onto that system which might than keep the price for each stable coin and the centralized currency equal which is needed into the crypto space.

This might majority of times fail but considering some major changes we might soon see it possibly happen. USDT is an live example for this concept and I am sure that there would be a lot of such stable coins in the future.

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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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I think in the end the government will issue the stable coin because the government would want security for its citizens from scam coins and protect the stable coins with laws so that the era of digital currencies will begin
and there is also the possibility that a bank will launch a stable coin
this is just my opinion

whyrqa

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I think that it is possible that each country will be able to create its own national cryptocurrency, which will be supported by real fiat money. But there is a very big problem, because of which the value of this cryptocurrency will be a big question. If the government always uses manipulations in the state financial system, printing new money, and the cryptocurrency must have a certain amount of its coins, then the national cryptocurrency will lose value Not because of poor demand in the cryptocurrency market, but because of poor indicators of the value of the national currency .

oscarftw

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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.

Government could create own currency but you can't call it cryptocurrency. Digital currency already available in several country. Next situation is about stable coin, why any government could do that where government can't control it or monitoring it. Almost 6-7 stablecoin already exists in cryptocurrency but any coin couldn't put control on government.

stadus

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If they'll create out of thin air then they'll be like our corrupt banking system,.. I said no, not gonna happen as long as the control is on the government, when we speak of stable and centralized currency, that function is done best by the government.

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

Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?

I think it is possible that all countries over the world hold Tether since it is reflecting the dollar itself. Moreover, Tether has a quite stable value that most countries require for a safe currency. But I think some countries will also try to have their own digital currency if cryptocurrency becomes mainstream in the future.

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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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I don't get it. What's the point of having every currency pegged to tokens? We already have usd and gold pegged tokens that are pretty stable and we can use them if we want less fluctuation, but introducing it to other less stable currencies with uncertain future would just create more fluctuation and that's exactly what stablecoins are avoiding.

betty11

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If Stable coin is created for all currency and nations of the world, my question here is how will consuming corrupt nations maintain the standard of their currency to keep off inflation.

vvu351

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Quote from: pakhitheboss on February 22, 2020, 10:26:59 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.

The global currency is USD all international fiat transactions are made using USD. When you create a stable coin you peg it to a fiat currency which is internationally accepted and doest not have a fluctuating rate. I do not think it is possible to create a stable coin for each currency as it might be accepted locally but not globally.

This is how you can create a lot of stable coins for the dollar. And these coins will continue to strengthen the dollar used by the whole world.

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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.

The global currency is USD all international fiat transactions are made using USD. When you create a stable coin you peg it to a fiat currency which is internationally accepted and doest not have a fluctuating rate. I do not think it is possible to create a stable coin for each currency as it might be accepted locally but not globally.

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