oh another thing, did you know that due to regulatory requirements in order for the stable coin to be used in x country, the stable coins have in their code an option which can actual freeze your stable coins. Even BUSD has this code option, it just needs to be set to enabled and can be frozen for a specific person, but this would be mostly likely done at a request by x government. However these days we know that you don’t even need to break the law to have your accounts/money frozen!

From my research USDT is not fully backed by dollar, some of it was back by investment in the chinese markets including evergrand which has recently collapsed, they have been involved in some shady stuff.

As of yet I think I am more concerned about the simulated global cyber attack on the finance sector, and even though the dollar will collapse in the coming years I know it wont happen this year. The purchasing power will decline over the coming years, as it already has when you compare gold price: dollars required, we need more dollars now to buy the same amount of gold. I think for now my main concern is that if the global financial system came under attack e.g. wiping out peoples banks accounts, then my BUSD is stored on my hardware wallet, so would I still be able to redeem it. As I dont think that a cyber attack on the financial system will make the goverments do a currency reset over night, although they have a CBDC ready and FED coin and have been testing cryptos but it just wont happen just yet. The cyber attack may also be an inncentive to be used to move to a new systems and get the people to agree reason being for the peoples security.

I guess  BTC may be safer in the future when it isnt so volatile, as store of value.

Is stable coin BUSD which is 1:1 dollar backed via PAXSO safe when stored on a hardware wallet vs keeping money in the banks. Recently countries have been doing cyber attack simulations, as they see it as a potential threat close to the future. They stated it can effect the global financial system, there even being potential of wiping out peoples banks accounts. Not sure if people are aware that there were virus breakout simulations done by USA late 2019 also and then we had a covid breakout (just saying).

I am just thinking BUSD is backed by the dollar, and dollars are stored in banks and if/when the banking system is affected then how would that affect stable coins which are fully backed by the dollar. Even if you do have your balance proof on your hardware wallet, will you ever get that money?

Please dont tell me the goverment will ensure your money/saftey etc...we know what happen in the USA in 1971..the great depression, bank closures and bank runs etc.

I would appreciate thoughts from people who actually understand this topic. Thanks.