Topic: Stablecoins or CBDCs? - page 2. (Read 867 times)

If the option are only those both, I will always pick CBDCs, and I think most of people too. If Governments actually release CBDCs, the Stablecoins company need to found added value to their product, or else they will just die. Why you would buy a dollar from an unauthorized company when you get it from the official, the official is absolutely more secure.

Over time, the only alternative for CB DC will be decentralized stablecoins, which will be provided not with a fiat dollar, but with cryptocurrency. Thus, there will be a real separation of the cryptocurrency and the real world, in which everyone will be able to choose what suits him better - decentralization or centralization.

Of course they can if they want to. But I don't think they will do it anytime soon, because there are a lot of obligations here, it's a matter of security. And in many countries cryptocurrency has not yet been legalized. Then there are the various political reasons involved.

I don't think it will be completely extinct but yes there will be came out a competition and I think it will be good for us.

I believe stable coins will have tough competition if traditional banks launch their digital currencies on blockchain. Although we know that stable coins have been trusted by many people for a long time but we also know there are limitations that stable coins cannot do when compared to coins related to bangs. For example, if it concerns the liability of the customer's assets, perhaps the bank will have the upper hand in this regard.

Some countries that want absolute power over their citizens will use CBDCs, the other will use stablecoins. If stablecoins are regulated they can act as CBDCs but will have more reach because anyone in the world will be able to use them. For the USD, that's a better solution than a closed CBDC, because it can still remain on top of the economic pyramid. These stablecoins will run on top of L1 blockchains, like Algorand, XRP, and ICP.

I'm sure behind the stable of unofficial coins from the world's central banks, they will feel stifled when they can't grasp the flow of money wherever it comes from, if USDT can't be controlled well the banks will prefer to get another way by making their own coins ready to compete with other countries another stable coin. Unfortunately USDT has earned a more privileged platform in the cryptocurrency community, our trust is so high in USDT.

It should be borne in mind that states are now issuing their digitized currencies (CBDC) not for the purpose of developing cryptocurrency. They do this out of their own interests, namely to improve the efficiency of their cashless transactions. Private stablecoins were created mainly to provide convenience when working with a decentralized currency, and governments create CBDCs to improve the efficiency of their centralized financial system. How private stablecoins and state coins will coexist depends largely on the states. After all, private stablecoins use fiat for their work, and states can prohibit them from doing this.

As we know, central banks in various countries have announced the intention to launch various volations against digital currencies. And can be said as the first step towards the world where all our money is in the digital world.

But many people do not know this, ok....we who often dive in the crypto world, know this, but for those who do not know, whether they believe it, although literally the development of the world of stablecoin is a cryptocurrency that has price stability that can be used as a digital world asset and as well as the fiat.

in my opinion stablecoin is not only issued by the government, some are launched or created by private companies with underlay installing cash as collateral.

As in the first question the creator of the discussion, about stablecoin, in the tether sector is no longer a new thing for us, regarding the big influence and has achieved success in the financial sector of fiat money submission and gain large profits, therefore many new events have sprung up or new style and coins Only CBDC, which applies the same steps as tether, basically only the advantage that becomes the main patron of each launch, is none other than a little different concept, the stablecoin strategy is nothing but providing convenience for balanced asset storage.

And all of that we can be a part of minimizing the losses of the cypto assets that we save, a lot of new stablecoins have sprung up, but according to saving my writing language, it feels hard to compete, maybe because of the influence of the influence that is already strong in the crypto world, but the new stablecoin is in making a competition Against enthusiasts, but the length of time.

Along with the developments and strategies and brilliant concepts, we just wait how the new CBDC power stablecoin.

Actually nobody knows if the stable coins are backed by anything. Nobody audits those tokens. Nobody ever did. They are (the issuers of those stable coins) probably running a fractional reserve banking scam with the money they don't have and that's a very dangerous game. Everything will be fine as long as people don't cash out large sums and buy real stuff like homes, cars etc. but once they do, the whole stablecoin chain will collapse.

Stable coins will forever remain the best, because most of them are being backed up by the real country currency. CBDC can't take over the market because it's going to be centralized and anything that's monitored can't go any far in the crypto space because it's against what the vision and mission of crypto currency stands for.

You are right when you say that in terms of functionality not a lot may seem to change, however stable coins have a huge volume and market cap, so if many governments at the same time announced their desire to get rid of them then it is to be expected those coins will crash hard.

So a lot of people would lose their money in that scenario as I doubt many of those coins actually back their tokens in a one to one relationship to their fiat counterparts, also your privacy will become heavily compromised by the use of CBDCs and maybe in the future the government will forbid to buy cryptocurrencies with them, limiting what you can do with funds that you planned to use to invest in this market.

I am not really sure what i should think about CBDC's. I mean if there will be a official digital USD or a digital Euro in the future then i would think that those are really safe and really always pegged 1:1 to their corresponding currency. The thing with the crypto stablecoins so far is that some of them are not really stable so far, like USDNeutrino which was at like 0,70 USD a few weeks ago and even though it is now again at 0,976 USD it is still more than 2% off it's peg, which is just to much in my opinion. In addition to that we can not really know if every stable coin that is minted is really backed by a real currency, for example we don't really know if the company behind USDT can back bevery Tether that they are minting.

If you think that a government can ban stable currencies and you do not have any issues rather than moving on with the stipulation, it wont be that easy as billions of dollars are held in these stable currencies and it is not practical to think that there will be a global ban. If they can ban stable coins they can control the rest of the markets that easily and it will have an profound affect on the entire cryptocurrency space as they will start targeting token projects next and it will continue like that.

The basic aspect all these governments want is to have more control over the cryptocurrency space.

They can't since they are not the one that initiated it in the first place. Maybe due to the limitation of their control to stablecoins out there, that's why they can't back it up.
Pretty sure that they just wanted an absolute control over the whole stablecoins.
I had personally never went too much with stablecoins, but I don't think we should be worried in stablecoins in the future of CBDC's launch. It is the same thing as worrying cryptos future after bank cards had launched as well as digital payments out there.

People are afraid that government will be forcing us to use CBDC but at the end of the day why wouldn't we? I mean think about it, stablecoins are not really that much of a big deal neither to me, and they are not really changing much of my life as a company behind it, the product is great and wonderful and it is loved by many but the team behind it does not matter to me.

So, if the government says stablecoins are illegal but crypto is legal, only CBDC is legal to use along with crypto, then it would not change a single thing in my life. I would just move all my money from stablecoins to CBDC and they will be listed on exchanges just like stablecoins are.

Exactly. Centralized stablecoins are doomed to failure as governments will do their best to help promote the use of CBDCs. There will be no major differences between the two (stablecoins vs CBDCs) except that one will be backed by companies while the other will be backed by the government. People will prefer the latter option (a CBDC) because it's much more legitimate than the former. We don't need to worry if CBDCs will take over the world since it was expected banks and governments would do everything in their power to avoid losing control over the economy. As long as decentralized cryptocurrencies exist, people will be able to enjoy true financial freedom. Who knows if CBDCs live alongside crypto for generations? Just my thoughts

Only decentralized stable coins have a chance of survival, centralized stable coins can easily be killed by governments at any moment and they know it, and the reason for this is simple, the coins are centralized.

Governments are experts at fighting centralized enemies as they can easily concentrate their resources and use any legal and illegal means to force a centralized institution to comply, but the same is not true for a decentralized entity, so if at some point governments decide they want to get rid of centralized stable coins they can do so with ease.

Isn't CBDC just a discourse to be launched right, but even if it is launched and has full support from the government, I don't think they will easily be able to beat the popularity of stablecoins which have very strong fundamentals in the market. , I don't think they can grow side by side in the future, especially because CBDC is a new token, of course it takes time and a process to gain the trust of traders and investors,

I think the current stablecoin is better than CBDC, because stablecoin is one of the tokens that has very secure privacy and is the safest alternative tool to keep assets caused by the price inflation of btc on the market, where the price is equivalent to USD or money. Fiat is of course very helpful for its users, but I still have doubts about the development of CBDC because until now this token still does not have significant value, even though it is predicted that it will become a transformation of banking, but I think they still need time and processing to be able to compete with tokens that already have the full trust of crypto users.

The future is still uncertain for the Stablecoins market, but whether the trend will continue to grow, I think we can answer that. It won't die in the end or it will co-exist with CBDCs because Stablecoins provide many advantages over fiat currency. Personally, I think bothStablecoins and CBDCs will have a purpose in the world of cryptocurrency. Stablecoins are more likely to be used as a trade-off between privacy and public access, while CBDCs will likely be used as a settlement mechanism by banks and large corporations.