Stable coin for Every Currency

[Chrystora123]

snip..

I personally predict that in the future, governments in all countries in the world will make their own country's cryptocurrency.  just look at the example of China which announced that they would circulate their own country's cryptocurrency and certainly, this will be followed by many countries in the future..  I am very confident, stable coins will circulate together with fiat currency in the future or even replace fiat currencies.

[Ozero]

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

Stable state coins cannot be decentralized. Stable coins of states are the same centralized currency of states, only in digitized form. Therefore, there will be no significant difference between the currency of states and their stable coins. The difference is only in the form and method of their use. However, stable state coins will be more convenient to use and I hope that their appearance will affect the overall improvement in cryptocurrency liquidity.

[slashz9]

of course if all countries have received crypto, of course the demand for crypto will increase in terms of any kind of trading, buying and selling or ico coming out will be more and more.
every country will certainly make their own stable coins whether they are made by exchanges in each country, or the government and local banks also make them.

[go1lo2va3]

of course if all countries have received crypto, of course the demand for crypto will increase in terms of any kind of trading, buying and selling or ico coming out will be more and more.
every country will certainly make their own stable coins whether they are made by exchanges in each country, or the government and local banks also make them.

I believe that most of govs won't keep up with crypto companies, so I think its more possible for govs to adopt crypto payment options, but not the cryptocurrencies itself

[vvu351]

of course if all countries have received crypto, of course the demand for crypto will increase in terms of any kind of trading, buying and selling or ico coming out will be more and more.
every country will certainly make their own stable coins whether they are made by exchanges in each country, or the government and local banks also make them.

I think that countries will not produce their coins. This makes no sense. It seems to me that only China is able to launch a national cryptocurrency.

[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.

Governments would only consider to generate their own stable coin only if the cryptocurrencies are been legalized globally. This seems a rare situation though. I think perhaps tether would launch many other stable coins which might be used for P2P transactions in each country. This might even get more reliable and a number of people who are not that aware about buying and selling cryptocurrencies would find a easier way to do so. This might be something which would be needed.

There should be a stable coin for each national currency which would have the price same as those currencies. This would allow us to easily convert bitcoins into our fiat currency without paying excess charges.

[Coyster]

I personally predict that in the future, governments in all countries in the world will make their own country's cryptocurrency.  just look at the example of China which announced that they would circulate their own country's cryptocurrency and certainly, this will be followed by many countries in the future..  I am very confident, stable coins will circulate together with fiat currency in the future or even replace fiat currencies.

This prediction seems impossible in the nearest future imo, cryptocurrencies have been used for years now, but till now how many countries have adopted their own cryptocurrency, none as of yet, China wants to, but till now that are yet to do so, government have no reason to be eager to create a national cryptocurrency, that energy would rather be employed in improving their fiat currency.

A stable coin for every currency is "asking too much", even if there are to be more stable coins they'll still be in the most popular currencies in the world and those of countries with the best economy.

[gundala]

It seems like it's not very effective. Does not every local exchange have a special lane for transactions using fiat in force in the country? Moreover, the use of stable coins is not too dominating, only used for strategies when market conditions are not possible and when transferring from one exchange to another exchange. So it is not an urgent matter in my opinion.

[asriloni]

of course if all countries have received crypto, of course the demand for crypto will increase in terms of any kind of trading, buying and selling or ico coming out will be more and more.
every country will certainly make their own stable coins whether they are made by exchanges in each country, or the government and local banks also make them.

I think that countries will not produce their coins. This makes no sense. It seems to me that only China is able to launch a national cryptocurrency.

It's not coins but that will be digital currency. that has already stated by so many countries if they are interesting to issue their own digital currency. The fact that another country was able to launching their own digital currency too. It's not so difficult to do that. Dude, national currency can be created easily.
Country has all of resources to do that even they can legalize their crypto easily.

[kayvie]

It seems like it's not very effective. Does not every local exchange have a special lane for transactions using fiat in force in the country? Moreover, the use of stable coins is not too dominating, only used for strategies when market conditions are not possible and when transferring from one exchange to another exchange. So it is not an urgent matter in my opinion.

At first yes, it won't be very effective.

But if the government is the one who initiates this, it's only a matter of time to widen its functions and this is when it will be effective to the public.
If every country will make their own stablecoin, this may become the standard crypto of each country.

[BlackFor3st]

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.

Of course government will make sure that they will create their own currency because they don't like to have no control to the currencies that they are using in their country. The same with China, they didn't adapt the usage of other currencies that were being launched by other team instead they decided to create and launch their own currency so they can control the usage of it and the most important is they will be the one to benefit at the end.

[BubbleButtBabe]

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.

Of course government will make sure that they will create their own currency because they don't like to have no control to the currencies that they are using in their country. The same with China, they didn't adapt the usage of other currencies that were being launched by other team instead they decided to create and launch their own currency so they can control the usage of it and the most important is they will be the one to benefit at the end.

But this centralized digital currency can not compete against somwthing like bitcoin with global appeal and no currency exchanged or conversion.

The same applies to the method used to ensure stability. It must be fully decentralized or it has a single point of failure.

[ufaiz50]

based on your initial references and thinking from economists. stable coins are used with real asset investments such as USDT, from here due to crypto volatility which is considered by economists to be unsuitable for currencies. then as the growth of blockchain technology and indeed there are some government banks want to make a digital currency, it is likely that the concept of making digital currency by the government has a big chance.

Back again, I'm sure crypto users will find it difficult to accept the centralization of digital currency.

[memed97]

But this centralized digital currency can not compete against somwthing like bitcoin with global appeal and no currency exchanged or conversion.

The same applies to the method used to ensure stability. It must be fully decentralized or it has a single point of failure.

Centralized currencies can not compete with bitcoin globally, but a stable currency will continue to be used by many people unintentionally, because the name of the currency is clearly always needed by all people even though they cannot compete with the king of coins namely bitcoin.

[julius caesar]

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?Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.

Of course it is possible for the cryptocurrency to be accepted by every other countries. But I do not think that it will become stable since we all know that cryptocurrency has its volatile characteristic meaning it will continuously move depending on the supply of the coin and the demand of the consumer. But of course it is possible. I am just wondering how it will be implemented. Maybe, they can create a global coin that can be used by every other countries in terms of their transaction.

[darewaller]

There is a huge difference between a private company doing something like that and a whole government doing something like that. USA for example has over 20 trillion dollars in debt, do you really think they can't just back 5-10 billion dollars worth of stablecoin?

They can create a stablecoin that will take care of all stablecoin needs of the whole world by themselves and take over the stablecoin market while at the same time keep printing money out of nothing and just sell it to us, not like everyone will keep on asking fiat back for their stable coin so that they would be basically getting money in return of nothing, sure there would be some people who will ask for it but they have so much they are getting that they could literally build a whole ponzi on that and still be fine.

[rahmatullah9305]

I believe that most of govs won't keep up with crypto companies, so I think its more possible for govs to adopt crypto payment options, but not the cryptocurrencies itself

We also have to think logically and realistically, friends, because all countries have different governance rules, so that when they make new steps in adopting the crypto payment option, of course there must be deliberation or consensus first, because we cannot decide personally

[BubbleButtBabe]

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?Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.

Of course it is possible for the cryptocurrency to be accepted by every other countries. But I do not think that it will become stable since we all know that cryptocurrency has its volatile characteristic meaning it will continuously move depending on the supply of the coin and the demand of the consumer. But of course it is possible. I am just wondering how it will be implemented. Maybe, they can create a global coin that can be used by every other countries in terms of their transaction.

There Is only one decentralized stable coin but it can only greatly reduce fluctuations not hold at a rock solid single value.
This is the best solution one can implement in a truly decentralized way. This gets more stable or to reduce volatility more with stronger and wider adoption. Tether is more stable but is centralized.

[bitkanu]

of course if all countries have received crypto, of course the demand for crypto will increase in terms of any kind of trading, buying and selling or ico coming out will be more and more.
every country will certainly make their own stable coins whether they are made by exchanges in each country, or the government and local banks also make them.

I believe that most of govs won't keep up with crypto companies, so I think its more possible for govs to adopt crypto payment options, but not the cryptocurrencies itself

As long as it will not be security and the government will bring a lot of ways to adopt crypto. The problem is so many crypto has no utility value. This problem is not yet fixed by the companies. The regulation has been putting the token that can be categorized as security as the main problem.

[Tylev]

It seems like it's not very effective. Does not every local exchange have a special lane for transactions using fiat in force in the country? Moreover, the use of stable coins is not too dominating, only used for strategies when market conditions are not possible and when transferring from one exchange to another exchange. So it is not an urgent matter in my opinion.

If we are talking about a stable coin for each ordinary currency, then here, most likely, we are talking about the issue by states of their national stable coins in parallel with their existing ordinary types of money. This process is now very relevant, since many states are now working on the issue of their national stable coin. Therefore, I do not see anything bad and surprising in the fact that each state will have its own national stable coin, which at a price will be equal to their usual currency. This process is ongoing and irreversible.