Goverment try to take advange over instabilty in prices of stable coins

[jrrsparkles]

Not much to read in the report part from the fact stable coins like USDT, USDC is struggling to keep up their purpose of stable coins now governments may push their CBDC tokens now to the crypto community as an alternative which is good or bad in your opinion?

I don't think it's good. What they should do is to embrace the already existing stable coin, in other not to have a replicated or duplicate stable coin. In the cryptography currency market. It will surely give scammers the opportunity to create there own stable coin, that will have a resemblance of the newly created one, in other to attract people. Which if they are not careful people will fall victims. Because this same thing has cause many to send cryptography to a wrong wallet address.

Stablecoins are never meant for long-term storage if that is the case would you prefer CBDC over USDT or other centralized stablecoins which always struggle to be close to USD's value?

I prefer USDT  over CDBC because is more reliable, popular trustworthy and faster way of transactions and has gain popularity over time.  It takes time to build reputation and which should no be compromised.

Cryptocurrency is already a free market, anyone can create their own crypto/stablecoin and whatever they want but now we are talking about CBDC issued by the government for example digital Yuan which was issued by China back in couple of years ago.  USDT isn't trustworthy nor reliable, if can go to zero the next day when you wake up and you can't find someone to point your fingers but if the same happens to government-issued stable coin then your country iself broke.

[justdimin]

I do not know how the CBDC will be distributed, but most likely you will need a KYC verified wallet and it contains all the information about you. Therefore, USDT is still an attractive option for those who want not to provide their data or to send their money between countries, as it is expected that you will need a bank or a system such as SWIFT that can These CBDCs are used to transfer money between each other and basically determine the exchange rate, so USDT and stable cryptocurrencies will be with us for a while until the whole system is based on identity verification, and then they will disappear.

I think it won't be distributed just like that, like a relief goods that the governments are giving whenever there is a calamity, but picture out CBDC like a typical crypto. You will also need to pay in order to obtain them. But, maybe some employers will pay using it. I'm not only sure if they are also mineable. But if so, then this is another way of obtaining them. CBDC's are centralized because governments or the banks are behind them. So yeah, the possibility of KYC must be there. I think USDT has no difference to them.

If you will only say stable coins, maybe it is acceptable since there are also a decentralized type of it, like for example DAI. BTC is still the best option though. Most cryptos are decentralized. They are new way of paying or the future of money, so I don't think the last thing that you said is going to happen. But even if let say it is, I think that people are still free to choose whichever payment they want to use and some or most of them will still prefer the decentralized cryptos.

[Mate2237]

CBDC will end in the scop Le of stable coin  if they are coming to the cryptocurrency ecosystem market space and their patronizing will be very low because of the government control coin. And probably it is only the government officials will even use it. I have heard a news from the main board that USA government is trying to control the cryptocurrency world and by starting it from the altcoins and Centralized Exchanges.

Op I might not agreed with you on the bases that stable coins are not for long term investment. There are some coins that have been in the system for a long period now and they are still existing. And those early investors of the those coins are making profit. Though not all.

[yazher]

And on taking a stable coin as a long-term investment,  it is a bad idea because its value is already pegged which means it can't increase beyond a certain limit, so what makes stablecoins different from keeping your money in the bank, is both a theme in operations and outcome.

Instead of stablecoins, they can go with bitcoins for assurance and they just need to buy it when the price is low because they will have a chance to increase their money and at the same time they will also make it more secure and don't need to worry about getting block or freeze by the government or the owners of stablecoins. Yes! the chance to get his money frozen by the owners of the stablecoins whenever they see some animality and involvement in hacking or something like that.

[tjtonmoy]

A healthy competition is always the best if you want to bring out the best in something. Without the CBDC, stable coins were stable coins without any competitions. Now that there is one, I think people will be able to compare them and choose what they think is the best. I don't see any difference between CBDC and stable coins as they are both centralized coins but one is controlled by the government and the other is by some centralized company.
Maybe you will get more freedom with stable coins but they are not the best option by any means. If people realize that the government is using the CBDC as a weapon to control them, surely they will move towards something more free like stable coins. And once they understand the power of freedom, I am sure they will also leave stable coins and move towards the king of all cryptocurrency, Bitcoin.

The CBDC pose a threat towards the crypto community but if other people also realize which one is the best, I am sure it will be in the favor of cryptocurrency in the end. Most likely Bitcoin.

[Belarge]

And on taking a stable coin as a long-term investment,  it is a bad idea because its value is already pegged which means it can't increase beyond a certain limit, so what makes stablecoins different from keeping your money in the bank, is both a theme in operations and outcome.

The outcome of investing in stable coin can be dissapointing most times so I preferred we just use our normal fiat currency instead of going through all these stress and at the end of the day, no solid pay or gigantic profits. Keeping our money in the bank doesn't warrant any risks but storing our crypto in exchanges, to be precise, stable coins that wouldn't make any massive pump from year to year. Stablecoin exists in the space and they've served quite numerous chances in the market. I would never advised any newbie or pro investor to invest in altcoin regarding reaping gigantic profits in the system.

[Silberman]

And on taking a stable coin as a long-term investment,  it is a bad idea because its value is already pegged which means it can't increase beyond a certain limit, so what makes stablecoins different from keeping your money in the bank, is both a theme in operations and outcome.

The outcome of investing in stable coin can be dissapointing most times so I preferred we just use our normal fiat currency instead of going through all these stress and at the end of the day, no solid pay or gigantic profits. Keeping our money in the bank doesn't warrant any risks but storing our crypto in exchanges, to be precise, stable coins that wouldn't make any massive pump from year to year. Stablecoin exists in the space and they've served quite numerous chances in the market. I would never advised any newbie or pro investor to invest in altcoin regarding reaping gigantic profits in the system.

Stable coins do not really serve the function of an investment vehicle for most investors, the only exception to this are the people that are holding a fiat currency that is suffering a high level of inflation, as in that case stable coins could give them some protection against it, however for the rest of investors stable coins are just a way to get out of their open positions but do so without sending their money to a bank account, an action which could get your bank account closed if you are not careful.

[jrrsparkles]

Op I might not agreed with you on the bases that stable coins are not for long term investment. There are some coins that have been in the system for a long period now and they are still existing. And those early investors of the those coins are making profit. Though not all.

This is especially about the stable coins not altcoins in general, and what does stable coin do that can bring profit to its investors?

In no way it is going to make profit because it always stays to the pegged value which is supposed to be $1, but many stable coin went to zero because of various reasons so why not trust something issued by the government over centralized and completely controlled private stable coin?