Topic: Stable coins massive development and USA dollar - page 2. (Read 304 times)

US dollar is one of the strongest world currency, it is even the most recognized and that is why stable coin mimic dollar to an extent. Despite this, this can not cripple dollar, not possible this time or in future. Dollar is also and always stronger than any stable coin.

What do you mean by kill is the effort of the countries of China, Russia, and some Islamic countries to discard dollar or dedolarization. If what you mean is that you are wrong to draw correlations because those who want to kill the dollar are not Americans and those who are pro dollars, who want to kill the dollar are countries that want to break away from dependence on the dollar and who realize that fiat money is a mistaken system.

https://www.ccn.com/russian-gold-backed-crypto-slams-the-global-us-dollar-standard/
https://www.kitco.com/news/2019-11-01/China-s-secret-gold-backed-cryptocurrency-to-destroy-U-S-dollar-skyrocketing-gold-prices-Max-Keiser.html
https://cointelegraph.com/news/iran-wants-to-create-crypto-to-confront-economic-hegemony-of-us

But the process of dedolarization is also not extreme when it happens. The dedolarization program must be managed carefully so as not to backfire for a country. Before making a total dedolarization, the government of a country must ensure several things between it.

- Changing the country's foreign exchange reserves, which are majority in US dollars, to gold or other currencies. but this is very risky because currently, the world economic barometer is still American, foreign exchange reserves in the form of large dollars can fend off the adverse effects of domestic and global economic conditions. For now, the greater the foreign exchange reserves in the form of dollars, the higher the bargaining power and stable foundation.

- The government must educate the private sector not to use dollars in transactions, the private sector in all countries, including anti-dollar countries, are interested in international money transfers using swift compared to other currencies.

- Major foreign debt in US dollars, the more debt the more the country depends on the country providing the loan. If foreign debt is high, the bargaining position of a country will be very weak.

does it really meam it is a dollar as well? As far as I know, stable coins dollars market price is just inclined with the USD but is way totally different in auch a case that it is decentralized and not owned by any central banks.

I knew, sorry if it looks like off topic for you but any stable coins are built under decentralized economy which is always related to Bitcoin, so to understand the fruit you should know the quality of the root.

Stable coin itself however could be a threat to fiat not only USD, especially to those corrupt government because everything is traceable, but doesn't always mean it against fiat.


Also, It would be better if you could add the rumour source here and it is only you that knew the rumour then we don't need to discuss cause we don't have the same issue to discuss.

It wouldn't get dropped just like that you know. A proper plan of procedures is needed if ever a huge change regarding the currencies of the world is done. Just like how China did with their crypto yuan, US would likely make one to change the USD fiat type to crypto type, thereby creating a system that would mesh together with the integration of crypto to the world. There's also the point that if we lost USD and wanted BTC to change it as global currency, everyone must know about how to use it and must acknowledge of it's existence, such that every possible store out there has the capability of integrating BTC to their transaction systems.
Also, the collapse/crash news about US dollar these past few months is about how the global debt has accumulated that the banks/governments in US.  There could be a possible crash in the market, but they have prepared possible solutions regarding that such as the accumulation of gold, but it still is in question whether that is enough to survive the crash or not.

We need some real currency to give a price to cryptos. If that coin crash then the bitcoin or the crypto coin will crash, and this is fun because in the end, the stable coins are a lie... Nothing is stable in the long run when we talk about economics.

i want to know first , who want to kill usd .
the only logic reason why all of stablecoins backed usd because , usd is well known FIAT in this world for long time .
and that why , people choose stable coins based usd, rather than any fiat, such as yen , euro ,etc.

People cash out to stablecoins when they don't actually want to exit completely. If you hold stablecoins, that can be to sit out a bear market you expect to tank the price, or to exploit arbitrage opportunities between exchanges, hence the reason Tether decided to issue USDT on faster networks like Ethereum, EOS, TRON.

Moving actual fiat between exchanges is very time consuming and burdensome, while moving stablecoins between exchanges takes a few minutes at most through aforementioned networks.

People may not like stablecoins, but they prop up the price of every single crypto. It's capital that doesn't leave the market as quickly and regularly as actual fiat does, especially during bear markets.

Things could get a little messy if the US follows a tight dollar policy. I don't think it makes sense to get a stable coin out. Already dominated over the US dollar. China is storing dollars for independence. However, the US may return to loose currencies. Cryptocurrency does not yet offer a solution for states.

You're asking this question, but your assumptions are all wrong.  Stablecoins aren't created to compete with the USD or any other fiat currency as far as I know, and their purpose isn't to destroy fiat at all.  They basically function as a substitute for fiat on crypto exchanges, so instead of cashing out your bitcoin for USD, you trade it for Tether or some similar stablecoin--so you're never really dealing with fiat currencies at all.  I'm not sure what the advantage is of this, because I've never read a good explanation anywhere.  Those are just my own thoughts.

Kind of makes me think of Libra and why Facebook wants to create a stablecoin.  My guess is that it would allow them to collect data on users' financial transactions, which they can't exactly do right now when people are doing transactions through their banks.  I don't know what people are supposed to use Libra for, but I'm assuming it would be for FB-related stuff.  I'd love to hear somebody's input on that if they know something.

Elite is guys who are rich and have interests to keep their wealth good in any regime!!
Weather its communism socialism or capitalism they Want to be same well and live rich no matter what is the situation Economic or political.

They know one regime or one power Can't rule for Long so they want to be ready wheb changes occures.


But If the USA dollar Will be so doomed?
Why They waste resources and time to Work with USA stable coins?

Can anyone exolpain that for US?

Who are these Global elite?  

Its not going to be destroyed what ever they are going to do if there really is a plan. But I think by creating a new standard and not honoring USD will bring that plan to life but not destroy it.  If by chance in the next 100 years China dominates and continues to be an economic giant, YUAN will probably replace USD as the global currency.  Digital Yuan rather

Im not asking about crypto Killing USA dollar
The topic was about Global elite Plan to destroy USA dollar but the Same the elite is develope stable coins together with instutions like circle and so


Topic was about if the rumours as they Want to destroy USA dollar... Then why they work so much with develope the stablecoins USA dollar coins




Thts is topic about...

Stablecoins haven't got any plans to kill the USD. Neither have normal cryptocurrencies.

The aim of stablecoins is to surf on the popularity of the USD and to pretend that their coin is just the digital version of the USD.

As soon as the Americans create their own digital version of the USD, stablecoins will all die.

The topic is about stable coins!

Basically,  Bitcoin is invented not to destroy anything. For me it is more about an option to be your own bank, control your own money and be totally free. Regarding the creation of stable coins through partnership with government, IMO it is a business and the pressure of law. I do believe most of people here love to talk about investment, money, profit from Bitcoin and decentralized products, so they are. They think can make money easier by working with government, under the government's law, and it is their choice.

If they Plan to kill and drop the USA dollar then why they work with so many USA dollar based stable coins like usdc thether and pax....

How does it make any sense? 
They say that world Elite Plan is to destroy the USA dollar but the Same time all the big guys working on USA dollar token based stable coins?



Is that means the collapse and crash about USA dollar is hoax?