Stable coin for Every Currency

[VDraci]

Stable coins backing all countries currency will work as we think, this is the best thing that will happen about digital currencies adoption and coins like Bitcoin and altcoins won't be used as money because they are volatile, I hope people start seeing things this way

[livingfree]

It will be the task of every country to make their own stable coin if they wish to get in to cryptocurrency. Tether will be out of their choice because it's still unknown if it can really prove the back up that it has with dollar.

China and Japan I think is trying to do it soon.

But if we have all the countries to own their stable coin, this is just a digital currency and upgraded version of fiat unless they will allow it to be pairs in different exchanges.

[bitcoin-shark]

stable coins are a certainty a brake on inflation, a safe exit from day trading, all altcoins should be guaranteed by a stablecoin or vice versa, and I am sure that their introduction in everyday use will take place before that of altcoins traditional...

[Sanugarid]

Stable coins backing all countries currency will work as we think, this is the best thing that will happen about digital currencies adoption and coins like Bitcoin and altcoins won't be used as money because they are volatile, I hope people start seeing things this way

Stable coin is possible to happen if a particular country will develop their own digital currency that is being used all of the citizen. It is way better and faster to use and the adoption to digital currency is easy on them.

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.

Indeed, there are government who really recognize the goodness of digital currency, there is not doubt if they developed a new one and regulate on their own and they can give some taxes to that.

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

Definitely, it is an awesome idea to do adoption to a particular country as long as the government is involved and they are regulating to the citizens who are using it.

[leea-1334]

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.

You have not heard of Tether obviously. There are so many stablecoins already in the world and USDT is the one used on every single exchange that you and me can access.

That is the state of the normal fiat too! US dollar used almost everywhere in the world so stablecoins reflect exactly the currency they represent,,, at least to me.

[ChrisPop]

Stable-coins pegged to a fiat curency is not going to solve the world economic and social problems. The governments will still print money on-demand. Stable coins are pretty much like using electronic currency through the bank, only it is more decentralized.

[kindbtc]

I think the world is moving towards cashless money system and also towards stablecoin based digital currencies but personally i think that we do not need so many stablecoins or we can say that there is no meed for stablecoins for every traditional currency. I think we need only 1 stablecoin and that should be accepted globally without any issue.

[pakhitheboss]

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.

The global currency is USD all international fiat transactions are made using USD. When you create a stable coin you peg it to a fiat currency which is internationally accepted and doest not have a fluctuating rate. I do not think it is possible to create a stable coin for each currency as it might be accepted locally but not globally.

[vvu351]

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.

The global currency is USD all international fiat transactions are made using USD. When you create a stable coin you peg it to a fiat currency which is internationally accepted and doest not have a fluctuating rate. I do not think it is possible to create a stable coin for each currency as it might be accepted locally but not globally.

This is how you can create a lot of stable coins for the dollar. And these coins will continue to strengthen the dollar used by the whole world.

[betty11]

If Stable coin is created for all currency and nations of the world, my question here is how will consuming corrupt nations maintain the standard of their currency to keep off inflation.

[o48o]

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 don't get it. What's the point of having every currency pegged to tokens? We already have usd and gold pegged tokens that are pretty stable and we can use them if we want less fluctuation, but introducing it to other less stable currencies with uncertain future would just create more fluctuation and that's exactly what stablecoins are avoiding.

[Rengga Jati]

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 think it is possible that all countries over the world hold Tether since it is reflecting the dollar itself. Moreover, Tether has a quite stable value that most countries require for a safe currency. But I think some countries will also try to have their own digital currency if cryptocurrency becomes mainstream in the future.

[stadus]

If they'll create out of thin air then they'll be like our corrupt banking system,.. I said no, not gonna happen as long as the control is on the government, when we speak of stable and centralized currency, that function is done best by the government.

[oscarftw]

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.

Government could create own currency but you can't call it cryptocurrency. Digital currency already available in several country. Next situation is about stable coin, why any government could do that where government can't control it or monitoring it. Almost 6-7 stablecoin already exists in cryptocurrency but any coin couldn't put control on government.

[whyrqa]

I think that it is possible that each country will be able to create its own national cryptocurrency, which will be supported by real fiat money.  But there is a very big problem, because of which the value of this cryptocurrency will be a big question.  If the government always uses manipulations in the state financial system, printing new money, and the cryptocurrency must have a certain amount of its coins, then the national cryptocurrency will lose value Not because of poor demand in the cryptocurrency market, but because of poor indicators of the value of the national currency  .

[taufik0911]

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 in the end the government will issue the stable coin because the government would want security for its citizens from scam coins and protect the stable coins with laws so that the era of digital currencies will begin
and there is also the possibility that a bank will launch a stable coin
this is just my opinion

[sana54210]

I think that it is possible that each country will be able to create its own national cryptocurrency, which will be supported by real fiat money.  But there is a very big problem, because of which the value of this cryptocurrency will be a big question.  If the government always uses manipulations in the state financial system, printing new money, and the cryptocurrency must have a certain amount of its coins, then the national cryptocurrency will lose value Not because of poor demand in the cryptocurrency market, but because of poor indicators of the value of the national currency  .

This might not make the crytocurrencies work along with the centralized currencies. This would always be a major drawback. If we ever want stable coins which could be similar to various centralized coins than we would need to copy the centralized financial monetary system and build various stable coin onto that system which might than keep the price for each stable coin and the centralized currency equal which is needed into the crypto space.

This might majority of times fail but considering some major changes we might soon see it possibly happen. USDT is an live example for this concept and I am sure that there would be a lot of such stable coins in the future.

[Henrytrust]

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 question is quite funny, tether can't be creating stable coin for all the currencies in the world. It would interest you to know that we have several stable coin in the cryptocurrency space, though tether is the most popular. Any country can choose to digitize their national currency and they could do that without the assistance of any project including tether.

[TheGreatPython]

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.

Government could create own currency but you can't call it cryptocurrency. Digital currency already available in several country. Next situation is about stable coin, why any government could do that where government can't control it or monitoring it. Almost 6-7 stablecoin already exists in cryptocurrency but any coin couldn't put control on government.

Why would we need a number of stable coins over here? We already have some which are enough I guess. We crypto enthusiasts need coins having high volatility which would allow us to make enormous profits in minimum times. Such stable coins might only be useful to cash-out funds or shift onto some other coin but when it comes to trading, it would never be worth trading with these stable coins.

This coins would be best if ever the government launches them but they might not really gain that demand if they are been launched in the decentralized space. We need highly volatile coins and not stable coins. Forex trading is always a option if you ever like stable coins.

[Free1bitco.in]

I believe that the government will make their cryptocurrency at the end, just like China. however, I don't think they will let a company like USDT take control of the city. if the world starts to see cryptocurrency as a very good alternative, then the government needs to make its own crypto to meet people's needs. I am not sure that the government will recognize a stable coin beyond their control.