Stable coin can solve poverty

[laredo7mm]

Plan to solve
Create usd or other stablecoin like eur or why not gbp...
And make big airdrop.
So everybody will get nice ammount
And exchangers will pay apy like 40-50% to hold

Its instant plan to remove poverty you print money

So you want to increase the circulation of money to remove poverty. The idea you are providing will cause more inflation in our economy. The price of goods will be higher because people will have a lot of free money in their hands which they will use instantly to store valuable items from the market. This will create shortages of goods supply than demands which will increase the price instantly.

If govt really wants to stable the economy then it should have focused on holding the PPP of its currency by increasing or decreasing cash from the circulation. But what govt doing is adding more paper cash in circulation. This will never solve the inflation problem.

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[Cryptock]

~I believe bitcoin will solve the poverty in the future, that's why digital currency was created and if we continue to adopt it will surely be the answer we are waiting for.

Only when btc has been legalized worldwide, generally accepted as a legal tender, not being measured by fiat value.
But as long as btc fiat value is being speculated on, people are more interested in the profitability rather than the actual core value as an alternative payment option, price is still very volatile, it won't be able to fulfill that goal.

That's true - I am not sure if the stable coin can solve poverty - no -  not at all.
There are almost 90% of population in my country how are unaware of crypto - so I am not sure the stable coin can solve poverty.

[death_wish]

Plan to solve
Create usd or other stablecoin like eur or why not gbp...
And make big airdrop.
So everybody will get nice ammount
And exchangers will pay apy like 40-50% to hold

Its instant plan to remove poverty you print money

Please show this user the respect he deserves.  He is obviously an economist employed by a major government.

[martina14]

Plan to solve
Create usd or other stablecoin like eur or why not gbp...
And make big airdrop.
So everybody will get nice ammount
And exchangers will pay apy like 40-50% to hold

Its instant plan to remove poverty you print money

I don't about this, but I have a bad feeling with our opinion here to this topic anyway.
I know there are still some other way to resolve the poverty. Besides, there are a lot ways too for us
to get out of this situations. Your solutions won't work for this matter.

[ningrum]

Plan to solve
Create usd or other stablecoin like eur or why not gbp...
And make big airdrop.
So everybody will get nice ammount
And exchangers will pay apy like 40-50% to hold

Its instant plan to remove poverty you print money

I don't about this, but I have a bad feeling with our opinion here to this topic anyway.
I know there are still some other way to resolve the poverty. Besides, there are a lot ways too for us
to get out of this situations. Your solutions won't work for this matter.

I don't think it's the right solution and it has the potential to cause bigger problems.
indeed if we think simply poverty will disappear if they have money but poverty will not be solved by printing as much money,
it will only make inflation higher

[virasisog]

Plan to solve
Create usd or other stablecoin like eur or why not gbp...
And make big airdrop.
So everybody will get nice ammount
And exchangers will pay apy like 40-50% to hold

Its instant plan to remove poverty you print money

Everything should be put into balance and that's how the economy works. We can't eliminate gambling in just a glimpse of an eye or rather by printing money and distributing it to the poor because if that's not the solution though the intention is good. An increase in money printing would have a huge impact on the economy of a country that's why they limit and balance it. There's no easy solution to poverty, to be honest, and we could only do something about it personally.

[savetheFORUM]

Plan to solve
Create usd or other stablecoin like eur or why not gbp...
And make big airdrop.
So everybody will get nice ammount
And exchangers will pay apy like 40-50% to hold

Its instant plan to remove poverty you print money

I don't about this, but I have a bad feeling with our opinion here to this topic anyway.
I know there are still some other way to resolve the poverty. Besides, there are a lot ways too for us
to get out of this situations. Your solutions won't work for this matter.

You are right and if you look most of the replies in his thread, they too disagrees with the idea of the op. Indeed there are other much safer ways that people can do to get out of poverty. The first would be voting wisely because if our government officials are not corrupt, they can provide a better opportunity for the public which can help us improve our lives. Next is don't be lazy. Study hard and finish your studies.

This brings you knowledge and certificates which you can use to find a career. Last would be learning how to manage money. The op's plans looks so good to be true. Only if there are no downsides of doing this, this was already done long time ago.

[wxa7115]

Plan to solve
Create usd or other stablecoin like eur or why not gbp...
And make big airdrop.
So everybody will get nice ammount
And exchangers will pay apy like 40-50% to hold

Its instant plan to remove poverty you print money

So you want to increase the circulation of money to remove poverty. The idea you are providing will cause more inflation in our economy. The price of goods will be higher because people will have a lot of free money in their hands which they will use instantly to store valuable items from the market. This will create shortages of goods supply than demands which will increase the price instantly.

If govt really wants to stable the economy then it should have focused on holding the PPP of its currency by increasing or decreasing cash from the circulation. But what govt doing is adding more paper cash in circulation. This will never solve the inflation problem.

Correct, and this is not a theory that we are formulating on our own, this is a historical fact, we have seen this scenario many times in which a government for some reason or another begins to increase the money supply to the point inflation goes out of control.

And things get so bad the only way they see for solving the problem is to keep printing money, but this is only a temporary solution as we know that the more money is printed the more inflation grows, and it gets to the point in which no one wants to hold fiat and some even begin to use barter as a way to exchange among them for goods and services.

[Cryptock]

Correct, and this is not a theory that we are formulating on our own, this is a historical fact, we have seen this scenario many times in which a government for some reason or another begins to increase the money supply to the point inflation goes out of control.

And things get so bad the only way they see for solving the problem is to keep printing money, but this is only a temporary solution as we know that the more money is printed the more inflation grows, and it gets to the point in which no one wants to hold fiat and some even begin to use barter as a way to exchange among them for goods and services.

I think nothing can solve the poverty issue - the countries which have developed have progressed - those which are left behind will remain behind.
In our country there are so many issues - people are tired and sick of inflation. One thing ends and a new issue is standing with open arms. I see not end to  poverty.

[Hamphser]

Correct, and this is not a theory that we are formulating on our own, this is a historical fact, we have seen this scenario many times in which a government for some reason or another begins to increase the money supply to the point inflation goes out of control.

And things get so bad the only way they see for solving the problem is to keep printing money, but this is only a temporary solution as we know that the more money is printed the more inflation grows, and it gets to the point in which no one wants to hold fiat and some even begin to use barter as a way to exchange among them for goods and services.

I think nothing can solve the poverty issue - the countries which have developed have progressed - those which are left behind will remain behind.
In our country there are so many issues - people are tired and sick of inflation. One thing ends and a new issue is standing with open arms. I see not end to  poverty.

Inflation is something that every country do encounter but it do only differs in terms of on fast or slow with those changes which would really giving out that headache into its citizens.When it comes on solving poverty

then this is a global problem which had been tried to be resolved out through ages and yet we dont able to solve it out and now we are claiming about stable coins to solve out poverty?

On what sort or possible way that it could really do such thing? I dont see any relevance on why having this kind of input which we know that it doesnt really have any connections imho.

[dbc23]

Plan to solve
Create usd or other stablecoin like eur or why not gbp...
And make big airdrop.
So everybody will get nice ammount
And exchangers will pay apy like 40-50% to hold

Its instant plan to remove poverty you print money

This is a big plot for higher inflation rate and never a poverty handling solution. You will only come to discover that after the airdrop with nice amount as you stated the poor who benefitted will not see any useful value for the stable coin because more money printing is a way of invoking higher inflation rate

[tadamichi]

Plan to solve
Create usd or other stablecoin like eur or why not gbp...
And make big airdrop.
So everybody will get nice ammount
And exchangers will pay apy like 40-50% to hold

Its instant plan to remove poverty you print money

You can check out Germany in 1923 to understand why this won’t work, everyone was a billionaire yet poor.

https://alphahistory.com/weimarrepublic/1923-hyperinflation/

[Cookdata]

Correct, and this is not a theory that we are formulating on our own, this is a historical fact, we have seen this scenario many times in which a government for some reason or another begins to increase the money supply to the point inflation goes out of control.

And things get so bad the only way they see for solving the problem is to keep printing money, but this is only a temporary solution as we know that the more money is printed the more inflation grows, and it gets to the point in which no one wants to hold fiat and some even begin to use barter as a way to exchange among them for goods and services.

I think nothing can solve the poverty issue - the countries which have developed have progressed - those which are left behind will remain behind.
In our country there are so many issues - people are tired and sick of inflation. One thing ends and a new issue is standing with open arms. I see not end to  poverty.

There is one beauty ( scam I mean) of being a government, you can print as much as more quantity of fiat out of thin air and when you spend them, it continues to depreciate the value of that country and the most interesting about this is that the citizens are very well aware of this but would panic and shout that there is inflation when they already know where the problems emerge, the central banks know that this the main problem of inflation but they will close eyes and put the blames over small factors that contribute to inflation.
Increasing a supply of currency wouldn't do it good in the long term, only when it is deflationary that is why Satoshi made Bitcoin with a simple supply system that will never cross above 21m.

[Xampeuu]

Correct, and this is not a theory that we are formulating on our own, this is a historical fact, we have seen this scenario many times in which a government for some reason or another begins to increase the money supply to the point inflation goes out of control.

And things get so bad the only way they see for solving the problem is to keep printing money, but this is only a temporary solution as we know that the more money is printed the more inflation grows, and it gets to the point in which no one wants to hold fiat and some even begin to use barter as a way to exchange among them for goods and services.

I think nothing can solve the poverty issue - the countries which have developed have progressed - those which are left behind will remain behind.
In our country there are so many issues - people are tired and sick of inflation. One thing ends and a new issue is standing with open arms. I see not end to  poverty.

There is one beauty ( scam I mean) of being a government, you can print as much as more quantity of fiat out of thin air and when you spend them, it continues to depreciate the value of that country and the most interesting about this is that the citizens are very well aware of this but would panic and shout that there is inflation when they already know where the problems emerge, the central banks know that this the main problem of inflation but they will close eyes and put the blames over small factors that contribute to inflation.
Increasing a supply of currency wouldn't do it good in the long term, only when it is deflationary that is why Satoshi made Bitcoin with a simple supply system that will never cross above 21m.

with the classic problem, which continuously prints money indefinitely from time to time, it makes its value decrease and results in inevitable inflation. and the emergence of bitcoin actually provides an answer to the unlimited supply, but the problem is that the government is the ruler, on the pretext that because it is decentralized, the government has not been able to legalize it. but in the future no one knows that developments will corner fiat currency to use

[laredo7mm]

Plan to solve
Create usd or other stablecoin like eur or why not gbp...
And make big airdrop.
So everybody will get nice ammount
And exchangers will pay apy like 40-50% to hold

Its instant plan to remove poverty you print money

So you want to increase the circulation of money to remove poverty. The idea you are providing will cause more inflation in our economy. The price of goods will be higher because people will have a lot of free money in their hands which they will use instantly to store valuable items from the market. This will create shortages of goods supply than demands which will increase the price instantly.

If govt really wants to stable the economy then it should have focused on holding the PPP of its currency by increasing or decreasing cash from the circulation. But what govt doing is adding more paper cash in circulation. This will never solve the inflation problem.

Correct, and this is not a theory that we are formulating on our own, this is a historical fact, we have seen this scenario many times in which a government for some reason or another begins to increase the money supply to the point inflation goes out of control.

And things get so bad the only way they see for solving the problem is to keep printing money, but this is only a temporary solution as we know that the more money is printed the more inflation grows, and it gets to the point in which no one wants to hold fiat and some even begin to use barter as a way to exchange among them for goods and services.

I do not know if there is any proven formula for managing inflation or not but I saw a concept about elastic supply in the crypto space which got my attention. I think the theory is risky to implement in our economy but some crypto project is bringing this concept into their ecosystem to control the PPP rate of their token. Theoretically, it looks desirable but I am not sure if this will work or not.

Some will say this concept is like rebase token but it is not. There are many differences between them.

[uneng]

Correct, and this is not a theory that we are formulating on our own, this is a historical fact, we have seen this scenario many times in which a government for some reason or another begins to increase the money supply to the point inflation goes out of control.

And things get so bad the only way they see for solving the problem is to keep printing money, but this is only a temporary solution as we know that the more money is printed the more inflation grows, and it gets to the point in which no one wants to hold fiat and some even begin to use barter as a way to exchange among them for goods and services.

I think nothing can solve the poverty issue - the countries which have developed have progressed - those which are left behind will remain behind.
In our country there are so many issues - people are tired and sick of inflation. One thing ends and a new issue is standing with open arms. I see not end to  poverty.

A country can solve the poverty issue since there is a majority of honest, conscious, patriot and educated people in the region, so their ideals and ideas will prevail, overcoming difficulties and challenges that keep the country miserable. That is how rich countries reached the financial level they are right now and it shouldn't be impossible for others, once they follow the same formula.

I can't say about your country specifically, because I don't even know which one it is, but generally poor countries are on this condition because citizens are hostile to each other, try to take advantage of their countrymen (and foreigners), and consequently put people of this same character and behavior at leadership positions. And the minority who have principles and values are put aside from the society, because that is not the majority's lifestyle.
About OP's idea, I think stablecoins can partially help to ease the poverty issue, because with access to a strong fiat currency like dollar for a fair exchange fee price, these people can at least avoid high inflationary local currencies. Before stablecoins, to acquire dollar we had to go physical exchanges houses where the official rates displayed on the TV news and internet weren't respected by the exchanges. Let's say if 1$ was equal to 3 units of my local currency officially, at exchanges I would have to pay 5 units of my currency for 1$. This way only the rich had access to dollar for travelling, touristic reasons, while the average citizens had to stick themselves to national currency only, like a castaway restricted to a tiny island surrounded by sharks (government) which prevented him from going to a closer ship for confort, help and rescue.

[Gyfts]

If govt really wants to stable the economy then it should have focused on holding the PPP of its currency by increasing or decreasing cash from the circulation. But what govt doing is adding more paper cash in circulation. This will never solve the inflation problem.

No, government should not be in the business of modifying their money supply. It never works. The centralized authority that the government-backed banking institutions have, at the direction of the federal reserve or whatever financial body, have proven themselves to drive economies into downward spirals.

The inflation pre-Ukrainian war was a result of money printing and COVID lockdowns. Government knew they could shut down the economy if they just asked the banks to print more money.

[laredo7mm]

If govt really wants to stable the economy then it should have focused on holding the PPP of its currency by increasing or decreasing cash from the circulation. But what govt doing is adding more paper cash in circulation. This will never solve the inflation problem.

No, government should not be in the business of modifying their money supply. It never works. The centralized authority that the government-backed banking institutions have, at the direction of the federal reserve or whatever financial body, have proven themselves to drive economies into downward spirals.

The inflation pre-Ukrainian war was a result of money printing and COVID lockdowns. Government knew they could shut down the economy if they just asked the banks to print more money.

There is some serious setback to a fully decentralized economy. How you will implement law and orders in such an environment where no one is in control? Hackers and Drug deals have been made through privacy cryptocurrency nowadays. Money laundering, arms dealing, terrorist funding, and target killing can be easy through privacy cryptocurrency. There needs to be some involvement of the government to maintain law and order to prevent any negative activity.

The government has failed to stabilize the economy but that doesn't mean they can not. A semi-decentralized economy should be tested to get a better result.

[Lubang Bawah]

I think stable coins are not the best solution for solve the poverty, the stable value of coins will not increase as in decentralization, so that the decentralization of coins is more realistic for solve the poverty, as did El Savador, Panama and several other countries that are currently open tender for legalization Bitcoin is a very smart solution.

[Cryptock]

I think stable coins are not the best solution for solve the poverty, the stable value of coins will not increase as in decentralization, so that the decentralization of coins is more realistic for solve the poverty, as did El Savador, Panama and several other countries that are currently open tender for legalization Bitcoin is a very smart solution.

Me too - I don't think that this will do any service to the community - because in my country 30% of the population do not have smartphones. And 20% of the population do not have internet connection. 50% people live below the poverty line. So what do you think the coins would be beneficial to my country to solve poverty problems.