F*CK BITCOIN. USELESS COIN BACKED BY NOTHING. Stablecoins are the future.

[Gyfts]

And don't you speculate with stable coins? Do you not speculate that the sustainability of stable coins will be prolonged and not collapse once it is discovered that the physical assets backed by the stable coin either do not exist or do not have integrity? Watch, all the governments of major banking systems (EU central bank, swiss banks, fed. reserve) will release their own stable coins within the coming years - and people will suck them right up because they foolishly believe that large countries are too big to fail.

[EdenHazard]

You're drunk, go home son.

we should not have to explain anything , should we?
if you mean by bitcoin is based on speculative interest then start with re-read the bitcoin whitepaper..

then learn the history from here

http://p2pfoundation.ning.com/m/discussion?id=2003008%3ATopic%3A9402

to
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the moon!

[Stablemoney21]

at least if you want to do a healthy argument and use language that is not too harsh, I know you just want to find a title that is indeed so that many people see and comment on your thread but by doing this you are not cool bro
if you call bitcoin speculative then how is it different from the stablecoin you want to sell?
at least bitcoin is still valuable compared to the clarity of the stablecoin you are promoting

My coin will be regulated and it will be subject to monthly attestation by  a CPA  to prove 100% cash reserves backing each coin issued. The coin will be initially issued on Ethereum. I recognise that there is a need for a genuine stable coin that is backed by cash. Not cash equivelents and speculativer commercial paper as is the case with USDC and Tether. These projects are essentially equivelent to risky fractional reserve bank deposits.

@Gyfts.

Central banks are captured by the interests of private banks. A CBDC would be a form of full reserve banking.  They will not issue a stablecoin because doing so would undermine the ability of private banks to attract retail deposits. As I am sure you are aware, private banks operate on the basis of fractional reserve. There is only around 10 percent of actual money M-O money (central bank reserves) backing private bank deposits (M1 money). A CBDC would be backed entirely by central bank reserves, because of this central banks fear that a CBDC would cause a run during periods of economic stress. Central banks will never release a cbdc in order to preserve fractional reserve banking. This is why the fed and so many g7 central abnks are so reluctant to release a cbdc.

[Stablemoney21]

You're drunk, go home son.

we should not have to explain anything , should we?
if you mean by bitcoin is based on speculative interest then start with re-read the bitcoin whitepaper..

then learn the history from here

http://p2pfoundation.ning.com/m/discussion?id=2003008%3ATopic%3A9402

to
.
.
.
.
the moon!

Fiat backed by faith in the economy and the integrity of public .  BTC backed by .... Its souce of value other than speculation. Fiat used as a legitimate means of exhange over the last century. Precious metals usedas a medium of exchange and a store of value for more than 2 milinea. BTC hmmm mumbo jumbo I guess. Buzzwords blahh blaahh blahhh. Hipster bullshit.

[Davidvictorson]

Bitcoin is useless. Nothing more than a tool for speculative idiots. Satshi who?  What is bitcoin backed by? Absolutely nothing. At least fiat is backed by a nations economic prowess. We are building a new stablecoin that will be 100% backed by dollars. A currency backed by the worlds largest economy. Unlike useless bitcoin. This is the future.  Reply for more info.

Bitcoin isn’t useless. Its fundamental purpose is both as a store of value and a hedge against fiat. On the other hand, Stablecoins, unless backed by gold or precious  minerals is useless. Some stablecoins carry their own risk. For instance, commodity-backed and crypto-backed stablecoins values are dependent on their underlying assets. Therefore they are prone to prices  instability when the market "shakes".

[Stablemoney21]

Fiat is backed by faith in the economy, millitary power, political power, global influence  the rule of law and the integrity of public instututions.  BTC backed by ....?  Its souce of value other than speculation. Fiat used as a legitimate means of exhange over the last century. Precious metals have been used as a medium of exchange and a store of value for more than 2 milinea. BTC hmmm mumbo jumbo I guess. Buzzwords blahh blaahh blahhh.

Governments can easily destroy the price of BTC by preventing banks from processing wires to crypto exhanges.

The chinese government did this and sent the price of btc crashing by nearly 50%.  Western governments can easily crash the price of btc if they want.

But they do not want to do this since btc is a shill coin for the masters of government. Billionaires.

[just_Alice]

Your message only shows that you don’t understand Bitcoin and cryptocurrencies as a concept. Bitcoin isn’t backed up by anything because it doesn’t need to be that way. What is “backed up”? It means centralisation, which essentially is against what Bitcoin is about.

Stablecoins are backed up by dollar, but why do you see that as something good? How can a cryptocurrency serve as a hedge against inflation if dollar is inflationary? They’re nothing but a digital fiat, while Bitcoin is special and gives much more promises.

[Stablemoney21]

Bitcoin is useless. Nothing more than a tool for speculative idiots. Satshi who?  What is bitcoin backed by? Absolutely nothing. At least fiat is backed by a nations economic prowess. We are building a new stablecoin that will be 100% backed by dollars. A currency backed by the worlds largest economy. Unlike useless bitcoin. This is the future.  Reply for more info.

Bitcoin isn’t useless. Its fundamental purpose is both as a store of value and a hedge against fiat. On the other hand, Stablecoins, unless backed by gold or precious  minerals is useless. Some stablecoins carry their own risk. For instance, commodity-backed and crypto-backed stablecoins values are dependent on their underlying assets. Therefore they are prone to prices  instability when the market "shakes".

BTC is a poor store of value because it is too volatile. Also there is no authority to stop manipulation within the BTC markets. Making it the best asset for insttututional investors to scam unsuspecting retail investors. Gold (Physical) is the best hedge against inflation. This is why gold is recognised as both a supranational currency (ISO 4217) and a commodity. BTC is barely recognised as a comodity in the US  and no stable country recognises btc as currency. It is too volatile to be currency.

Your message only shows that you don’t understand Bitcoin and cryptocurrencies as a concept. Bitcoin isn’t backed up by anything because it doesn’t need to be that way. What is “backed up”? It means centralisation, which essentially is against what Bitcoin is about.

Stablecoins are backed up by dollar, but why do you see that as something good? How can a cryptocurrency serve as a hedge against inflation if dollar is inflationary? They’re nothing but a digital fiat, while Bitcoin is special and gives much more promises.

Wrong. Backing does not mean centralisation stablecoins can be backed by precious metals such as gold. (PAXG) Gold is a supranational currency under ISO 4217. It is a store of value that is not controled by any authority. Gold is deflationary.  BTC is not special. it is the play thing of Bilionaires who can use it to scam dumb money. There is literally no authority to stop them from doing this. The perfect means of market anipulation and scamming.

Your message only shows that you don’t understand Bitcoin and cryptocurrencies as a concept. Bitcoin isn’t backed up by anything because it doesn’t need to be that way. What is “backed up”? It means centralisation, which essentially is against what Bitcoin is about.

Stablecoins are backed up by dollar, but why do you see that as something good? How can a cryptocurrency serve as a hedge against inflation if dollar is inflationary? They’re nothing but a digital fiat, while Bitcoin is special and gives much more promises.

Wrong. Backing does not mean centralisation. Stablecoins can be backed by precious metals such as gold. PAXG for example. Gold is a supranational currency under ISO 4217. It is a store of value that is not controled by any authority. Gold is deflationary.  BTC is not special. it is the play thing of Bilionaires who can use it to scam dumb money. There is literally no authority to stop them from doing this. The perfect means of market manipulation and scamming.

[moderator's note: consecutive posts merged]

[omone1]

Son, be careful because you are on a self destruction mission. It cost a huge loads of work to mine just a bitcoin which is heavily backed by technology and it's an anti-inflation currency. Bitcoin has never been bailed out and will never be bailed. Son, the days of US dollars are numbered. 

[Stablemoney21]

 Your currency is a plaything of billionaires and the financial elites. The amount of money it takes to mine btc proves this. Stable coins = money creation by the people. The US dollar is backed by  nukes, global hegenomy, millitary supremacy, leading jurisprudence and the worlds largest economy, which is fueled by the best and the brightest minds. Unlike btc which is backed by still waiting on a credfible explanation of its value.

However, its creation is controlled by central banks and a cabal of private banks. Stable coins shatter their contrrol and allows  anyone to create currency. It is literally economic power to the people who want to transact in USD without paying extortionate bank fees. BTC is a tool of billionare scammers and a speculative asset for hipster idiots who are too stupid that they are being played by institutional investors.  If anything stablecoin realise the goals espoused in the btc white paper than btc itself. But HODL MAAAN. TO THE MOON until Elon or some other billionaire parasite scammer decides to tweet some bullshit to manipulate the price.

The billionare parasites cannot do this with genuine stable coins. Thats why stablecoins = power to the people and btc = power to billionaire parasites.

[Johnyz]

Bitcoin is useless. Nothing more than a tool for speculative idiots. Satshi who?  What is bitcoin backed by? Absolutely nothing. At least fiat is backed by a nations economic prowess. We are building a new stablecoin that will be 100% backed by dollars. A currency backed by the worlds largest economy. Unlike useless bitcoin. This is the future.  Reply for more info.

You may not see the usage of Bitcoin but people respect it especially the crypto enthusiast and nobody forces you to buy Bitcoin. Have you seen the value of your fiat money today? Its decreasing because of the inflation while Bitcoin is not affected by that, and its growing even if you throw shit on Bitcoin. Anyway, your opinion is not important because we know the real value of Bitcoin, and for sure it will continue to grow.

[Stablemoney21]

Stablecoins can be backed by gold and can by gold  which has appreciated and gold is deflationary. BTC is only respected by the establishment controlled media. They will not tell you the truth. Stablecoins allows anyone to create currency whether backed by inflationary assets or deflationary assets such as precious metals. It is economic power to the people unlike btc which is increasingly being controlled by a cabal of billionaires and institutional investors.

What do you support, economic power to the people or some bullshit speculative asset that is the plaything of billionaires?

I say fuck the central banks. Fuck the private banks.  Fuck the cabal. Economic power to the people. Create stablecoins whether bacjed by gold, or fiat. Smash the economic control of the eilites. Fuck the billionaire parasites. Their power will only be preserved with btc, since they hold most of the issued btc supply.

Econiomic freedom for all. The power stablecoin issuance for all.

[decodx]

Stablecoins can be backed by gold and can by gold  ...

Stablecoins are so boring. Nobody wants that.

[Stablemoney21]

They are a stable currency alternative.Not speculative garbage that can easiliy be manipulated by the elites. That is why prostitute politicians and puppet  central banks are trying to supress the adoption of stablecoins.  They stand to loose.

[Handsome Boy]

Bitcoin is useless. Nothing more than a tool for speculative idiots. Satshi who?  What is bitcoin backed by? Absolutely nothing. At least fiat is backed by a nations economic prowess. We are building a new stablecoin that will be 100% backed by dollars. A currency backed by the worlds largest economy. Unlike useless bitcoin. This is the future.  Reply for more info.

go away, we don't need your stabilcoin, because we already have USDT and BUSD, so of course your stabilcoin will be useless and just a waste of your time, then in my opinion if you say Bitcoin is useless, so why are you interested in cryptocurrency? means you are an idiot, because the originator of cryptocurrency is Bitcoin, so without Bitcoin there would be no such thing as cryptocurrency and without you knowing that you are a Bitcoin fan .

[Stablemoney21]

Not going to repeat myself. I have repeatedly addressed this point. Lock through my post history or through this thread. Also as i have said many times before stablecoins can be backed by gold.  PAXG  is an example. Gold is deflationary. Are you so eager to shill for billionaire's that you could not be bothered to look through the post history of this thread?

Stablecoin = economic power to the people

BTC = economic power to institutional investors and billionaire parasites.

[brooksby]

Idiot what is bitcoin backed by? It is speculative nonsense. USD stablecoins are pegged to a currency that is backed the greatest economy in the world.

Bitcoin is a disgrace to crypto. Stablecoins  and ehereum smart contracts are the realisation of crypto's potential. Unlike bitcoin stablecoins are not created by a pussy who cannot reveal who he is. "Satoshi the pussy" realised he was troling the world when he made idiots give up actual currency to buy a speculative garbage backed by nothing.

It is backed by several characteristics that haven't been achieved before. It is backed by the common belief that those characteristics are valuable. It is backed by the belief that the technology will further advance, much like any other technology will further advance. Are you still sitting at your Amiga 500 or do you own a decent machine that serves today's purposes and fulfills the hardware requirements?

Go and develop your stable coin, not that there weren't several already.

[Stablemoney21]

Bitcoin is useless. Nothing more than a tool for speculative idiots. Satshi who?  What is bitcoin backed by? Absolutely nothing. At least fiat is backed by a nations economic prowess. We are building a new stablecoin that will be 100% backed by dollars. A currency backed by the worlds largest economy. Unlike useless bitcoin. This is the future.  Reply for more info.

go away, we don't need your stabilcoin, because we already have USDT and BUSD, so of course your stabilcoin will be useless and just a waste of your time, then in my opinion if you say Bitcoin is useless, so why are you interested in cryptocurrency? means you are an idiot, because the originator of cryptocurrency is Bitcoin, so without Bitcoin there would be no such thing as cryptocurrency and without you knowing that you are a Bitcoin fan .

USDT is not backed on a 1:1 basis with cash. It is a fractional reserve. Like the cabal banks. USDT is backed by unrated commercial paper. A true stablecoin is needed. Who cares if BTC is the original coin. Ethereaum has massively improved crypto in terms of potential. Stablecoin issuace gurantees the practical ussage of crypto as a currency alternative. I am interested in crypto because I recognise that stablecoins can give economic power to the people. Anyone can create a stablecoin. It smashes control of the banking cabal over money creation. Stablecoin issuance is the path to true freedom from the cabal. Unlike btc which preserves the power of the financial elites.

Idiot what is bitcoin backed by? It is speculative nonsense. USD stablecoins are pegged to a currency that is backed the greatest economy in the world.

Bitcoin is a disgrace to crypto. Stablecoins  and ehereum smart contracts are the realisation of crypto's potential. Unlike bitcoin stablecoins are not created by a pussy who cannot reveal who he is. "Satoshi the pussy" realised he was troling the world when he made idiots give up actual currency to buy a speculative garbage backed by nothing.

It is backed by several characteristics that haven't been achieved before. It is backed by the common belief that those characteristics are valuable. It is backed by the belief that the technology will further advance, much like any other technology will further advance. Are you still sitting at your Amiga 500 or do you own a decent machine that serves today's purposes and fulfills the hardware requirements?

Go and develop your stable coin, not that there weren't several already.

Backed by speculative nonsense. I am sure tulips during the period of tulip mania were pumped up by " agreed characteristics of value" much like any speculative asset. It has no sound fundamentals because its adds value to nobody. It is just a hyped asset so gamblers can make money. BTC is pumped up and manipulated by billionaires. BTC strenghens their control. Stablecoins shatters their control.

[moderator's note: consecutive posts merged]

[brooksby]

Bitcoin is useless. Nothing more than a tool for speculative idiots. Satshi who?  What is bitcoin backed by? Absolutely nothing. At least fiat is backed by a nations economic prowess. We are building a new stablecoin that will be 100% backed by dollars. A currency backed by the worlds largest economy. Unlike useless bitcoin. This is the future.  Reply for more info.

go away, we don't need your stabilcoin, because we already have USDT and BUSD, so of course your stabilcoin will be useless and just a waste of your time, then in my opinion if you say Bitcoin is useless, so why are you interested in cryptocurrency? means you are an idiot, because the originator of cryptocurrency is Bitcoin, so without Bitcoin there would be no such thing as cryptocurrency and without you knowing that you are a Bitcoin fan .

USDT is not backed on a 1:1 basis with cash. It is a fractional reserve. Like the cabal banks. USDT is backed by unrated commercial paper. A true stablecoin is needed. Who cares if BTC is the original coin. Ethereaum has massively improved crypto in terms of potential. Stablecoin issuace gurantees the practical ussage of crypto as a currency alternative. I am interested in crypto because I recognise that stablecoins can give economic power to the people. Anyone can create a stablecoin. It smashes control of the banking cabal over money creation. Stablecoin issuance is the path to true freedom from the cabal. Unlike btc which preserves the power of the financial elites.

So if you don't want to work with banks I assume as you call them cabal, where are you going to store the billions of dollars backing your stable coin? While you USD baked stable coin can be stopped by governments easily, algorithmic stable coins an't be stopped. They can be hindered, but not destroyed.

Ok let's assume the billions are going to be deposited at a bank, which bank is going to ensure low barriers to entry, full privacy and low KYC requirements at maximum? The bank doing that businesses is getting in a whole lot of trouble if they don't use your stable coin as a data producing machine that is providing governments with information about every step a person makes. Who are you interacting with, when, and where, etc. Welcome China. Are you also all for social scoring? Would fit your plans well.

[Stablemoney21]

Stable coins can be based on precious metals. Banks are not needed for that.  Also there are ways to bypass banks.