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Author Topic: Stable coin for Every Currency  (Read 682 times)
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February 02, 2020, 01:26:24 PM
 #1

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
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February 02, 2020, 02:01:43 PM
 #2

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.

I think stablecoin for every country is a good idea. They all need to be decentralized stablecoin though, so we don't have the problem of abuse like we have on centralized/fiat currencies today.
Current government controlled stable currencies are less transparent and prone to abuses. The public don't know how these currencies are run. While their decentralized versions are more transparent and less prone to abuse. The public knows exactly how they are run



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February 02, 2020, 02:23:46 PM
 #3

They all need to be decentralized stablecoin though.
If it's decentralized, that means no one can interfere or manipulate. So, the price theory of stable coin will not exist, in fact, a decentralized coin can't be stablecoin. To keep the price stable, you need to have access to the coin chain which is referring to centralization.
I think it's not a good idea to have stable coin but I was focusing if tether or other stable coins are thinking of doing this in the future. If so, they are going to make fool a lot of people and make hell lot of money out of thin air.
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February 02, 2020, 02:35:45 PM
Last edit: February 02, 2020, 03:18:11 PM by Tash
 #4

You can create as many stablecoins as you like and "create money out of thin air" who will be stupid enough to have any money there if it devalues at x %  per year. If anyone likes it or not Bitcoin will cut new coin creation in halve ever 4 years. After next halving 1.6% of total coins will be created per year. If anyone creates more than 1.6% money out of thin air, move it to bitcoin, simple. 4 years later the new mark is 0.8%.....  
Smart investor will try to maintain as much purchasing power as possible. US Dollar is a better choice as Venezuelan Bolivar and Bitcoin in the past "only" inflating at 2.3% in 2019 Bitcoin created 3.23% of the 21M total in 2019 it will be somewhere around 2.15% in 2020

Some Inflation figures for 2019 (average 3.6% of whole world)
Iran 31%
China 2.4%
Australia 1.8%
Brazil 3.5%
Russia 3.5%
Saudi Arabia 2.2%
Sudan 62%
South Africa 5.2%
Turkey 12.6%
Venezuela 500000%
Japan 1.3%
Germany 1.7%
UK 1.9%
Spain 1%
Sweden 1.5%
Ukraine 5.9%
Poland 3.5%
.....

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February 02, 2020, 03:06:27 PM
Last edit: February 05, 2020, 06:32:46 AM by Kupid002
 #5

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.
Do you mean everh country has thier own crypto currency same thing as fiat?
Yes its possible to happen but they need to study first if this things will work and how secured it is, because they will make a money they need to be advance for the consecquences and possible problem they will get before creating thier own.

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February 02, 2020, 03:24:08 PM
 #6

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
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Damn , that might happen, just out of greed tho yupp Sad
i dont think they could back them all tho?   im betting 90% of countries and banks are running a fractional reserve, they COULDNT make a stablecoin
unless they bullshitted it being 100% backed i suppose? hmmm...
i hope to see a government do it yupp, the canadian gov was gonna do a crypto TWICE, but their main reason for not the first time was "it lacks consumer protection" and the second time "fiat remittance between different currencies was too complicated" Sad    would be awesome tho imo

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February 02, 2020, 03:37:50 PM
 #7

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.

As you already know, stable coins are basically based on reserving real money. At least that's what it should be. This way 1 stable coin = 1 $ (or a different coin). But not every stable coin works this way.
For example, DAI is a stable coin, but DAI is not equal to $ 1 by any mechanism. The market itself is expected to stabilize.

This way, I don't think there is a need to issue 1 stable coin for each currency. Each country will find its value against the USD in its own dynamics. However, if desired, 1 token can be generated for each currency. At Waves, there was a work in this direction for a while.

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February 02, 2020, 03:46:44 PM
 #8

The realization is still too far for stable coins in each country, because not everyone in the government wants decentralization, so something transparent. People from banking and influential people in government who are cons to the crypto industry are also very opposed to this, surely they will do anything to keep the business going.
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February 02, 2020, 03:55:04 PM
 #9

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.
Your post doesn't make any sense, how will tether create other stable coins? please kindly find time to do research more on tether and know how it was created, the only thing that I know will work out on governments part is Central bank digital currency and yes they will be stable coins

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February 02, 2020, 04:01:06 PM
 #10

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.
If you talking about the digital version of the worlds fiat currency, I think it is not making money out of thin air usually if the stable coin came from any countries central bank I'm sure that it was back or pegged for the countries local fiat currency, while in the cryptocurrency stable coin like Tether, Pax, USDC, etc. most of them were pegged to US$ dollar but I'm not sure if that coin that minted was backed with a dollar in 1-1 bases.

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February 02, 2020, 05:02:00 PM
 #11

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
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Tether dont create tokens out of thin air. Central banks does that. Tether take those USD that central banks creates from thin air and store them safely when they create stable coin tokens.
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February 02, 2020, 06:06:36 PM
 #12

The stable currency for all currencies is the currency that everyone can use to pay and all countries regulate and recognize their value.  It is difficult to create such a currency because the biggest problem is who will issue the currency and based on what criteria to determine the value.  Which countries have to use this currency to be obligated to prove assets or have a certificate to use this currency?  This is a very difficult and difficult problem.  I think it will take many years for the world to create such a currency.

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February 02, 2020, 06:14:16 PM
 #13

It all depends on the regulation of that country.

If they can accept the payment system using other currency in their country, should be no problem and someone must be responsible for the currency it's self because the government also thinking about consumer protection. In my country, even USD cant be used as the transaction payment all the transactions should be used the currency from my country the solution on this problem only can be used a third parties apps who have integration transactions directly to my local currency for the output transaction. Need thinking about the regulation/laws on those countries first, before transaction using other currency.

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February 22, 2020, 09:54:08 AM
 #14

Will that make any sense if all coin have stable coin? I feel it will be a means of have too many other shit coin and even more scam projects. There are too many projects already which now makes it difficult to know the real ones. Greed is really setting into the game. This was not the reason for Crypto initially.
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February 22, 2020, 10:04:44 AM
 #15

Someone has opinion that it is useless to have backed cryptocurrencies, that it doesn't solve anything. For me ot is a way how to store it on your person wallet without having a bank account. Smiley

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February 22, 2020, 10:08:37 AM
 #16

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.

I think every government eventually has plans to create a separate digital currency under their control. Money/finance is the important way in which a government wields control over it's citizens and I don't think a government will be willing to hand over that control to normal people . We will see this happen.

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February 22, 2020, 10:11:29 AM
 #17

Stable coins are playing key roles in cryptomarket especially during bearish season and i think it is not possible yet that these stable coins used worldwide . It will take time.

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February 22, 2020, 10:18:48 AM
 #18

What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?

I dont think even tether wants that to happen. I doubt that this will be supported my many crypto enthusiasts. Tether is one of the crypto that hasnt much reliable when in terms of trust. We all know that it is a solution for continuously inflation and volatility that is happening in the crypto space right.

The realization is still too far for stable coins in each country, because not everyone in the government wants decentralization, so something transparent. People from banking and influential people in government who are cons to the crypto industry are also very opposed to this, surely they will do anything to keep the business going.

Agree with this. Maybe not feasible at all and not just too far IMO. Tether is useful but not in the league where they will be the sole stablecoin around the world.
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February 22, 2020, 10:49:11 AM
 #19

maybe if all countries in the world have accepted cryptocurrency, each country will make its own stable coins, in my country it is also twlah making our currency stable coins.
so it is not impossible the government will take part in this, if indeed this is booming in the future.

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BubbleButtBabe
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February 22, 2020, 10:59:05 AM
 #20

Stable coin is a great idea for adoption but it is really exciting if it can be achieved in a decentralized process.
Only one project has achieved something like this. I would say it reduces wild fluctuations but no precisely a stable coin
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