Topic: Stable coins massive development and USA dollar (Read 304 times)

I only wish governments made their own stablecoins, that would mean that they actually care about crypto a bit more and they don't want their public to be scammed by places like Tether. However, I doubt it will become a reality, not now at least and thats why I think no decent government will make their own stablecurrency, maybe some small nations in debt may do it like how Venezuela tried their Petro for example but I don't think we will see USA government do stablecoin or UK or any major EU country neither.

Still, if they ever decide to do something like that we shouldn't just be against it, we should support it so that we would have something decent that won't be a scam in the end, sure it is governments and they want something obviously out of that but at least they won't scam us.

I don't know how true is it but it seems you are assuming that this same "elite" that's planning to crash the dollar is the same group that developed these dollar-tied coins. If it was the same people maybe they were using it to siphon money or some other laundering shenanigans. Then they can just exchange these coins for other crypto like BTC before they "intend" to crash USD.

I think the main purpose of making stable coins is not to kill the dollar. Stable coins are made to secure assets from cryptocurrency that has high volatility. so that with a stable coin we can store our money safely without worrying about price fluctuations. and if we want to buy more crypto then we can exchange stable coins for the crypto we want. and maybe indeed in the future cryptocurrency can reduce dollar dominance.

I don't think there is any truth as to this claim where some elite group are trying to kill or collapse the US Dollar as you put it. the US dollar is one of the major currencies in the world backed by a powerful economical country so how does these so called Elite group plan to kill the US Dollar when this same US has one of the best security and information systems in the world. I don't think there is any iota of truth in that.

Is there a good connection between the rise of dollar-based stablecoins to the future of the USA Dollar which you said many are working to be destroyed? I don't think there is really that connection. When we say that many are wishing and even planning towards the end of the international influence of the mighty USA Dollar, we are talking here of big countries like China, Russia and yes maybe even Germany and the Eurozone and it is because these countries also have ambitions to be the dominant players in the international and global economy. The rise of the stablecoins are not supported by these countries so there is really no connection at all.

Helps being born in another time and another place rife with propaganda and failed ideologies, and growing up on real-life horror stories of repressions and wars past. Nothing like watching a totalitarian empire fall apart before your eyes to make you numb to rhetoric and manipulation, while still being aware of it. Then spending a lifetime working with Psychological Marketing models and voila 

It is easier said than done

You begin to separate the wheat from the chaff after you learn it the hard way, in most cases. It is difficult not to fall victim to this kind of propaganda as it is aimed at your emotional side (as any such stuff), i.e. something which you feel as true and thus heavily forced to consider true from deep within even if you are fully aware that it is not. Try reading this stuff, and you instantly get caught up in this kind of thing. As they say, it ain't what you don't know that gets you into trouble as it's what you know for sure that just ain't so (read, what they put into your head)

There is a difference between a company using the US dollar pegged to come up with a stable currency but the plan to destroy the global use of dollar is from countries like Russia and China and it is a political concept and how successful they can be is to be seen as it is not that easy to throw the dollar as a global currency when you are trading globally.

Right, but in addition to purely scientific cant we have some mildly Machiavellian "enlightened self interest"? 
IMO the trick to healthy living is not to get caught up in the bullshit, but be aware of it, since it clearly impacts people and economy, and ultimately make some money on the swing of tides 

It is not about good or bad at all

With resources like ZeroHedge it is always about sensationalism. As per Wikipedia (no plagiarism intended), "events and topics in news stories are selected and worded to excite the greatest number of readers and viewers". Since most people are prone to overreacting, the stories like the impending collapse of the dollar system (aliens invasion, nuclear holocaust, global warming, whatever currently fits that purpose) are always finding their audience even if the events described should have happened long ago according to their sources


There's no basis for anything other than purely scientific interest in brainwashing, mind control, coercive persuasion, or whatever it is called these days

So much bullshit, hearsay and conjecture  in one post - wow! WTF are "They"?! If you mean the unwashed masses, well then "they" have no clue about what the "Elite Plan" is, because they are too busy living in debt and building pyramids for the masters.  No one is planning to destroy USD, they cant, they wont, they love it whether they admit it or not, they cant live without it.
Crypto, as much as we all love it is a pimple on the worlds ass in terms of global influence, just another small vehicle for speculative revenue generation and somewhat clandestine value exchange, no more no less. It is allowed to exist precisely for that. The few of "us" on the fringes who are making money off crypto are not on anyone's radar because in the greater scope of things even our collective market value in terms of fiat is mousenuts, let alone the lack of real global power. So calm down, and carry on with your existence.

I can't understand how people make such strong statements.
Anyway, I don't believe USA will develop its own stable coin in couple years from now on.
However there is a chance that we'll see China developing its own digital stable coin soon

There has never been an aim to destroy dollar, that wasn't the intention of bitcoin at all, that is why most of the time it is based on dollar and how much one bitcoin costs is pegged to dollar valuation.

This was again the banks and wall street in order to fight against them and how they are fighting the war on financial world, right now wealthy is trying to get even richer while they don't care about how many people hurt from it, we are literally in a world where BP could spoil oceans and pay a fine, wall street could get greedy and get bailed out and basically all the horrible things and just get away with it whereas a single human could be jailed for not paying their mortgage on time. So, bitcoin is against the system and not the currency the system is using.

Bullshit or not bullshit, doesn't matter. Media always does good and bad things as long as they can have huge traffics and everything about money.

At least, with the actual source we can have same basis to discuss about.

I wonder why the US is not publicly announcing their own project like stablecoins. only China is very proactive about it. I hope the US to join the game, but we don't know they are already involved in some projects that we don't know. China is very aggressive and even other countries, hope they have another game plan to counter this.

Crypto and stablecoin can actually exist side by side. Nothing is 100% reliable or too big to fail though. I'd rather diversify my funds than put everything in one basket.  
If fiat currencies collapse, true stablecoins will likely collapse too. So we'll move to reliable and stable alternatives. What could that be? Gold, natural resources, foods,? I'd go for things that are stable, healthy, legal, useful at anytime and difficult to control or monopolized. If markets are flooded with our preferred asset to affect its stability, I guess we could switch to something else or constantly modify it to make it more unique.

There are solutions prepared for that. And if they haven't implemented it yet, just means that they lack the preparations for it and/or the world isn't ready for it. Most likely it is the former reason, but you never know. As for the USD based tethers, if a USD based crypto currency is made, they would just need to swap it over to that, but in the end their existence would honestly turn into nothing. It'd pretty much become over redundant if US made a USD crypto currency and at the same time tethers that are USD based retained its existence.

Also, the collapse of USD may be too early to say tbh. I mean, it has stood for a long time already, and I'd think another decade or so is needed to actually completely uproot it from the world.

what the circle consortium is doing with usdc etc. only pure business to counter usd tether version with a more transparent system. they fill in the blanks because the US is not active with stable coin plans like China. actually this is an advantage for the US government because they can at any time carry out the acquisition stage without having to research everything from the initial phase, I'm sure the fed has also been involved in it. conspiracy must also be seen in terms of strength for them, not just the opposite.

Where did you knew such thing as stablecoins being made by the 'Global Elite', a source link might be helpful to establish your point.

Almost all stablecoins existing are reflecting the US Dollar since it is one of the most used international currency, and thus reflecting it would be easier and more sensible. Almost all currency have trading pairs with USD, and US has ever since most dominant in the world, even in language.

Don't believe everything that you hear in the Internet

I've been reading about the imminent collapse of the dollar for at least 20 years on end. Somehow, the dollar is still alive and kicking. But there is a very simple approach you can use to gauge the strength of a currency. The strength of a currency is determined by the strength and might of the underlying economy. So while the American economy remains the most powerful and developed in the world (whether you like it or not), rest assured that the dollar is not going to kick the bucket any time soon


You don't need to go any further than ZeroHedge. That's the ultimate source of all such bullshit


And before anything else they should develop their own economy, and then there'll be no need for dedolarization in the first place. Basically, all these countries you mentioned are putting the cart before the horse and making their citizens suffer terribly due to mismanagement of their own economies

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?