What do you think? Is it necessary or possible to control a decentralized cryptocurrency or not. let's take it from the meaning of it all, we called something a decentralized network, having the full understanding of what the word decentralized means it has made the whole explanation of itself without any need to further stress, Bitcoin is a decentralized digital currency and can not be controlled by any third party, we all understand many attempts from government to regulate and control cryptocurrency but all moves turns void as bitcoin has its system controlled and regulated by itself, only the crypto industries and exchanges can't escape the regulation on tax among others from government since they are centralized. The main thing is to understand what Bitcoin control is for you. If you mean in this concept that no one can take it away from you or forbid you to dispose of it, then this is true, but you are mistaken! Bitcoin is controlled by its main holders. They manage its volatility and control it very well, while making good money on it. By managing volatility, they become monopolists, and monopoly is the main control over the crypto market. |
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Decentralized finance especially Bitcoin needs no central control. It is a crypto currency that is left in total control of it's holders. You own entirely every single BTC in your wallet without any third party interference. Stable coins has no intention of controlling your Bitcoin rather as centralized as they all appear it is only a tool for fighting volatility
Stablecoins are not a tool to combat volatility, they cannot affect it, but they can affect uncontrolled inflation, since they are printed uncontrollably. |
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Decentralized control of cryptocurrencies.The existing monetary financial system of the USA has strict control allowing to regulate the issue and creates rules for centralized financial regulation. One way or another, all countries of the world build their financial policies on the same principle, focusing on the $ USD exchange rate because the world does not yet know another better system. With the advent of BTC and other crypto currencies, there was a similar issue of control, but there was a problem, how and who will exercise control? All the developers, focusing on the dollar in various ways and options, decided to invent a square wheel (cryptocurrency Fiat) in the end, a dollar called centralized stablecoins USDC, USDT and BUSD and supposedly decentralized stablecoins (UST, DAI, FRAX, FEI, OHM) turned out again. The example of LUNA showed the inconsistency of such ideas. An attempt to link centralized finances with decentralized ones leads to what Satoshi Nakomota refused by inventing BTC. Satoshi's idea is to create decentralized finance, which should and will exist in parallel and complement each other by transforming. What do you think? Is it necessary or possible to control a decentralized cryptocurrency or not.
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What is the main problem you want to solve with this? What makes you think more problems won't be created trying to solve the problem.
Do you have examples of assets that do not or will not lose value?
Your idea is very interesting though
Good question. In my opinion, the main problem is that everyone is trying to solve the new decentralized financial system within the framework of the old proven monetary system. This mistake is made by everyone who is trying to come up with another stable coin by tying it to the dollar or another Fiat. Satoshi proposed another solution for the development of a new decentralized economy and everyone together undertook to link Bitcoin to the Dollar, everyone began to print their own stable coins without understanding the basics of the value of decentralized finance, this is the same as the treasury began to print dollar No. 1, No. 2, No. 3, etc. as much as necessary and we will do. I solved this problem with my project by creating an example of an asset that under no circumstances can be devalued because it is not tied to Fiat, which means it cannot be reset. Give me some time to go through your work and understand exactly what it's about. Are you a programmer? Central means controlled specifically by someone. The World Bank is a Decentralized Bank with no center, managed simultaneously by all its co–owners, wherever they are. This bank, accumulating the financial asset of its owners, brings profit to everyone. Its main advantage is that it cannot be bankrupted. Decentralization has no center. |
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What is the main problem you want to solve with this? What makes you think more problems won't be created trying to solve the problem.
Do you have examples of assets that do not or will not lose value?
Your idea is very interesting though
Good question. In my opinion, the main problem is that everyone is trying to solve the new decentralized financial system within the framework of the old proven monetary system. This mistake is made by everyone who is trying to come up with another stable coin by tying it to the dollar or another Fiat. Satoshi proposed another solution for the development of a new decentralized economy and everyone together undertook to link Bitcoin to the Dollar, everyone began to print their own stable coins without understanding the basics of the value of decentralized finance, this is the same as the treasury began to print dollar No. 1, No. 2, No. 3, etc. as much as necessary and we will do. I solved this problem with my project by creating an example of an asset that under no circumstances can be devalued because it is not tied to Fiat, which means it cannot be reset. Give me some time to go through your work and understand exactly what it's about. Are you a programmer? My project was developed to show that you don't need to reinvent the wheel, you just need to look at the problem from the other side. Why does ETH have unlimited volatility, what does it depend on and is it possible to manage it? Yes, it is possible, you just need to create conditions under which it will be beneficial for everyone to participate in the management of this. Management consists in creating the liquidity of the ETH and creating its deficit, as does the "Office of the Comptroller of the Currency of the United States (OCC)". This role is played by a smart contract. It rewards those who agree to participate in the management. It would seem that everyone can agree and lock their financial asset ETH in their stockings for a while and stop financial activity, but this is nonsense, no one will go for it, what's the point? So my project allows you to do this not just to lock up the ETH, but to make it very profitable for everyone at the same time, without stopping financial activity. By placing ETH in a deposit on your account, you receive its financial equivalent, which you can sell, mortgage or reverse at any time, which is beneficial primarily for you, and at the same time, the ETH equivalent can only grow in price and cannot depreciate under any circumstances. |
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Yes, it's possible to make a stable coin without even real back up of fiat.
But those type of stable coins are likely to get exposed when someone audits and look at its history. Well, those that are backed for real, they're audited and said that they've been registered and verified that they've got an actual backing fiat.
This is what's scary in stable coins lately, even they're reputable, it cannot be removed in the minds of everyone on what happened to UST.
The main value of a stable coin is its liquidity, this quality should be possessed by the cryptocurrency itself. All artificial stablecoins based on Fiat or tangible assets do not use the main purpose of a decentralized cryptocurrency. |
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“Stablecoins” is just a surrogate of an imaginary Fiat, which in essence is practically no different from electronic debit cards, the only difference is that not all exchanges work directly with Fiat and cards yet. If the US Treasury issues an electronic Dollar, then the meaning of all surrogates will simply disappear. But that's not the main thing! Is it possible to refuse to stabilize the cryptocurrency with Fiat at all? What is the point of “Stablecoins” pegged to the dollar or to any Fiat currency if they can be printed as much as you want? A condition is necessary, on the contrary, that the Fiat issue depends on the total real volume of the decentralized world economy, and not on the whim of the local government. There is nothing more stable than the decentralized cryptocurrency itself, such as Bitcoin or open source Ethereum, which can stabilize themselves. |
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Plan to solve Create usd or other stablecoin like eur or why not gbp... And make big airdrop. So everybody will get nice ammount  And exchangers will pay apy like 40-50% to hold Its instant plan to remove poverty you print money I assume that the teacher of the Faculty of Economics voiced the proposal of his students who want to feed the whole world with three loaves, so you should not take this seriously. Better think about whether it is possible to do without artificial “Stablecoins” based on Fiat, which in essence create a financial pyramid. https://bitcointalk.org/index.php?topic=5394397.msg59848010#msg59848010 |
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My issue with Stablecoins are the validity of the statement that $1 = 1 Stablecoin  It is almost impossible to trace the dollars that are supposedly backing the value of the tokens. I am curious to see some of these so called pegged stable currencies publish their audit report and for the most part USDT finally published a report recently which claims 83.74% of its reserves in cash, cash equivalents, short-term deposits and commercial paper, 4.61% in corporate bonds, 5.27% in secured loans to unaffiliated entities, and 6.38% in other investments including digital tokens but the fact remains that it is not clear how much dollar they pegged and my belief is that majority are commercial papers and cash equivalent. In the coming years i am expecting the validity of centralized stable currencies will be questioned and it might change the complexion of the overall cryptocurrency market.Absolutely right! To introduce a Fiat monetary system into a decentralized economy with the help of artificial stablecoins is absurd. The very principle of a decentralized economy is based on its stability. An open source cryptocurrency is transparent and predictable, it can stabilize itself and manage the Fiat economy, the collapse of imaginary stable coins is an example of this. I have been working in this direction for a long time and no one has yet been able to refute the project proposed by me. |
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My issue with Stablecoins are the validity of the statement that $1 = 1 Stablecoin It is almost impossible to trace the dollars that are supposedly backing the value of the tokens. If that was the case, then I think Stablecoins are actually helping inflation ...because more toilet paper money needs to be printed to back the Stablecoins in circulation.  That's right, stablecoins are toilet paper, but it also devalues Fiat itself. |
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Any stable linked to fiat automatically increases inflation by the amount of its issue.
Do you mean anyone can simply create a stable coin without a backing equivalent asset? Nope, regulations regulate how to issue stable coins especially fiat or other tangible commodities reserves where it cannot be withdrawn as long as its stable coins are in circulation (unless they are renewed when obsolete), and issuers must report their reserves every period. Then coin-stable inflation occurs as fiat represents it. The total capitalization of stablecoins has exceeded $180 billion and further growth is endless. https://coincodex.com/cryptocurrencies/sector/stablecoins/ |
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investment borrowing? how is it going?
For example: I borrow crypto for investment, where I do not issue any money or collateral, and when the price of the investment that I enter or borrow continues to decline, won't the project owner actually lose with that? it may be profitable for the borrower, but detrimental to the owner of the loan project.
This project allows you to borrow Fiat against the security of your ether, and your ether remains at the address of your wallet in the smart contract, and the bank will have smart contract tokens as collateral. Tokens are very attractive to the bank because they are secured and cannot be devalued and have a positive growth trend, unlike ETH, which has uncontrolled volatility. The bank can issue an interest-free perpetual loan secured by the client's tokens-bonds (an Islamic lending option), although there may be other conditions. The bank does not have access to the client's ETH deposit and in case of non-repayment of the loan can only sell tokens, and ETH will remain in the deposit blocked at the address (account) assigned to the client. Such a scheme of insurance against losses in case of atr volatility is very profitable and can attract ETH owners to become owners of a crypto bank, which in turn will increase the total deposit of ETH and, accordingly, the cost of tokens. |
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Become a co-owner of a world bank high qualifications are needed, the current economic challenges are very difficult, the inflation rate continues to increase and makes economic growth very slow, the most important thing from co-owner of a world bank is to be able to determine policies that are profitable for companies so that they can survive in difficult economic conditions.
Let's first figure out what a World Bank is. This is a bank in which there is no management and administration. All these functions are performed by the smart contract program. Anyone who wants to connect to the bank becomes its co-owner. You can place your financial assets as authorized capital in the form of a deposit to your bank account. The Bank guarantees the safety of financial assets by giving you an equivalent value (smart contract tokens). The Bank accumulates the financial assets of all co-owners and accrues income for the placement of funds. You can earn money by helping others become co-owners of this bank by providing the opportunity to connect to the bank. You can always return your asset at any time by returning its guarantees (smart contract tokens) to the bank. Now the main thing is that investments transforming into a decentralized financial liquid asset of tokens-bonds tend to grow and under no circumstances can be frozen, zeroed-devalued, there is the possibility of direct placement of any Fiat in a decentralized crypto economy through the crypto currency Ethereum. Investing and lending software secured by token bonds will become very profitable and safe. Tokens-bonds produced by a real financial asset replacing the turnover of ETH in the deposit becomes a reliable settlement coin between counterparties. |
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The very nature of cryptocurrency itself is decentralized. Maybe your idea is good because with a cryptocurrency bank like this you can not only manage existing assets, but maybe you want to guarantee the security of assets that are stored in your bank. However, we all believe in ourselves, we enter here of course with a risk that we are aware of, this is not only a matter of trading risk but also the risk of getting hacker attacks. Even though we store assets in a strong vault bank, if a virus enters virtually that vault then it's the same. How do you ensure the safety of your customers' assets?
I doubt that hacker attacks are worrisome as much as it used to be. Crypto wallets themselves are very hard to crack into and I am pretty sure it can be done, so how do they hack into stuff? They hack into projects, not people individually but into projects, which means they will be capable of stealing tens of millions of dollars worth of money collected by many people all invested into one place, imagine if binance got hacked, similar thing. However, it is not just you and me getting hacked, that rarely happens, that is where scammers start to work on, they realized that they can't hack into one wallet, but they can convince the owner of that wallet to give them that money somehow. There is no common storage in this project, each cell is an independent bank. The cell is accessible to everyone. Anyone can put ETH or a cryptobank token in it. In the first case, the one who deposited ETH will receive ETH-WORLD tokens, in the second case, by unlocking ETH in the smart contract, the bond tokens are extinguished and burned, while an identical clone of the new smart contract is formed with the address of the next co-owner of the crypto bank. Deposits of all clones of individual smart contracts are summed up and taken into account in the generation of the total issue of tokens–bonds (Stablecoins). |
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 It might be fair to say governments of the world hold monopolies over fiat currency. Which could be improved by introducing free market competition to the equation. The venezuelan bolivar and zimbabwe dollar could be better managed, and appreciate in value. If there were competing currencies incentivizing regulators to do a better job.
Theoretically there are competing currencies, as there are different countries with different currencies. Peopple could just move to a better country, or a country where politicians do what they would like. "Vote with your feet". But the costs of moving to another country are so high that people often do not move just because the government is doing a terrible job. When people really that the government is really fucking up it is usually too late. For example, Venezuelans cannot move now, because their economies are worthless, as their currency is no longer accepted anywhere due to inflation. 11. Anyone can freely open their deposit and become a co-owner by connecting their Ethereum wallet address to a smart contract (cryptobank). Your ETH always remains blocked at your address in the smart contract and can be unblocked at any time. You can also transfer your asset (ETH) to any other holder of the bank cell (smart contract). The bank will issue you its guarantees in the form of tokens, ETH-WORLD equivalent to the value of the deposited assets of the deposit. In this case, you do not have a deposit burdening ETH, and you have the right to do with it at your discretion. I wonder who blocks and unblock the coin, and what condition does the account owner have to meet before his/her coin is unblocked... I prefer a setup where the account owner has complete control over his/her fund, even when the account is attached to the bank/smart-contract. The smart contract could only be executing pre-programmed contract, like paying of interest into the account, deduction of fee from the account, etc at certain times after tasks have been performed. Good question. Etherium is blocked in your cell (account) in the smart contract, this is the address of your wallet. In order for etherium to become available to you, an appropriate number of contract tokens from any other address must be sent to this address. By unlocking ETH in a smart contract, the bond tokens are extinguished and burned, while an identical clone of the new smart contract is formed with the address of the next co-owner of the crypto bank. Deposits of all clones of individual smart contracts are summed up and taken into account in the generation of the total issue of tokens–bonds. |
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The very nature of cryptocurrency itself is decentralized. Maybe your idea is good because with a cryptocurrency bank like this you can not only manage existing assets, but maybe you want to guarantee the security of assets that are stored in your bank. However, we all believe in ourselves, we enter here of course with a risk that we are aware of, this is not only a matter of trading risk but also the risk of getting hacker attacks. Even though we store assets in a strong vault bank, if a virus enters virtually that vault then it's the same. How do you ensure the safety of your customers' assets?
Security is the basis of the project. 1. Your financial asset is always locked in a separate cell at your address in the smart contract and is accounted for in the total balance of the crypto bank. 2. To get access to the contents of the cell, it is necessary to send the appropriate number of contract tokens to this address. 3. The crypto bank consists of millions of such cells, so if one wallet address is hacked, hackers can steal only what is stored there. http://prosh.info/smart_eng.html  |
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Basically the best thing about the crypto market is that it is always volatile, if the market is not volatile we can hardly make money from it.
Besides, Bitcoin is the king of the crypto market and it is very difficult for any coin to surpass it, and all the currencies in the market must depend on bitcoin.
So I think a project of a coin that is not volatile, and that could make ETH number one is not viable.
Volatility is the life of the crypto market and it will always be, and the higher it is, the more necessary a reliable place to save your investments, which this project will be. |
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I propose to consider a platform project in which I used the principle of preserving any financial assets through the ETHEREUM cryptocurrency or a similar one in which a smart contract can be used. The platform allows all ETHEREUM holders, when connected to it, not only to save their assets, but also to multiply them. There is nothing new in my project, everything that I offer has already been partially used by someone in their projects earlier. So for example, the developers of the BAEX Token using a smart contract with parameters similar to my idea, which I published back in 2019. They tied their project to the existing Fiat financial system Decentralized Finance (DeFi), which is based on a monetary system focused on “Stablecoins” with administrative management based on the exchange rate value of the dollar, and which is subject to the risks of financial asset losses with large and sharp volatility of ETH.
I took into account all these fundamental mistakes in my project. A crypto bank created on the basis of a smart contract converts ethereum's financial assets into liquid tokens that cannot be devalued under any circumstances. For the fireproof gold tokens-bonds of the crypto bank, each of their owners paid specific funds, so they have their own value, the same as bitcoin, unlike it, this price cannot be less than the cost of acquisition and it is impossible to create them in any other way. The maximum number of fireproof tokens cannot be more than 10 million, and unlike Bitcoin, their value cannot be devalued since it is not tied to the Fiat exchange rate, but is measured by the quantitative content of ETH. This is the main reason that makes me continue this project and no one has been able to refute it yet. The project is really complex and large-scale, I am ready to communicate with any analysts, developers who are able to help implement or refute this idea.
Hoping to see exactly what formula or method will be used to keep the liquid tokens from being devalued without depending on fiat. Anyway, I wish this isn't deviating from this thread topic which is simply to have AI convert my idea into a working product Hope your idea can be discussed on a new thread (on this or any other section) that is specifically meant for the problems you intend to solve it is possible here https://bitcointalk.org/index.php?topic=5264440.60 |
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