Central Banks Versus Stablecoins

[Shami-Amourae]

Stablecoins are a crypto invention that are making central bankers shit themselves. They are taking away their power and they think they can regulate them out of existence.



Thankful the people running Central Banks are retarded Boomers who don't understand what crypto is.
They plan to possibly tax stablecoins out of existence (they're words), or regulate the shit out of it. They will absolutely blow up in their face as there are already algorithmic stablecoins like XHV Haven. That will increase too.


From the Federal Reserve:
tl;dr: https://twitter.com/CaitlinLong_/sta...75410663182339

Long Version: https://papers.ssrn.com/sol3/papers....act_id=3888752


It's amazing the Central Bankers took since 2014 to realize Stablecoins were a threat (they're that stupid) and their primary response is
"LET'S TAX IT OUT OF EXISTENCE AND EVERYONE WILL USE OUR SHITTY CBDC!!!!"


I'm going to start looking into investing heavily into Privacy Stablecoins. Those things are possibly going to be HUGE. Haven XHV had a hack recently so is significantly down but that or something like that could be one of the best investments of your lifetime.

[ziero0]

"Central Banks are retarded Boomers who don't understand what crypto is"

By "understand" I believe you mean consent.

By "retarded Boomers" I believe you mean "my father's generation".

Your statement becomes: Central Banks are my father's generation who do not consent to what crypto is.

This still does make much sense because the statement suggests "crypto is" or "crypto has being". When does the solution of a math problem have a claim to existence.

It is similar to reading a Superman comic and then expecting him to knock on your door. Pure fantasy.

[cheka.]

i dont know much about this stuff. but arent stablecoins designed/promoted to track the value of the federal reserve note?

the place where crypto traders store their 'cash' between trades? so the stablecoin operators must hold federal reserve notes (or derivatives of same) to achieve their goal?

the anti-crypto propaganda says stablecoin operators dont have the frn's they say they do -- ponzi

[Bigjon]

I posted a horror story about Tether a couple of weeks ago where the supposed dollars backing the Tether were no where to be found.

Sounds like another fractional reserve story, come to the crypto land.

[EE_]

Cryptos (aka air coins) are sucking shit!

But gold is shining!

[vacuum]

How would you invest in a stable coin? Since it’s pegged to something like the USD, you can’t really have a price go up situation.

One possibility is to invest in an oracle that the privacy stable coin would use to stay pegged. Would that be Chain link or something else?

[Shami-Amourae]

How would you invest in a stable coin? Since it’s pegged to something like the USD, you can’t really have a price go up situation.

One possibility is to invest in an oracle that the privacy stable coin would use to stay pegged. Would that be Chain link or something else?

Buy USDC on Coinbase. There's no fees when you do this so its basically a free way to get from fiat into crypto. You can then move it to a Metamask wallet and swap it for other things on UniSwap.
USDC currently earns 0.15% APY and soon will earn 4% APY + usable with a debit/credit card. That card will also let you earn more USDC. Coinbase is effectively a bank, and this is far superior to the 0.01% interest you get at your bank now.
https://blog.coinbase.com/sign-up-to...e-cdad79e5f5eb


There are other services that give you higher staking rewards (like interest), but they are riskier, and many are unregulated or automated (you can lose everything).

-----

Another option is Paxos Gold $PAXG which is an Ethereum token backed by physical Gold that is audited and regulated:
https://www.coingecko.com/en/coins/pax-gold


The only stablecoins I'd recommend are $USDC, $DAI, and $PAXG.

[Shami-Amourae]

Cryptos (aka air coins) are sucking shit!

But gold is shining!

Some price changes in $USD over the last year:

Bitcoin: +330%
Lumber: +265%
WTI Crude: +210%
Gasoline: +182%
Heating Oil: +107%
Corn: +84%
Copper: +83%
Soybeans: +72%
Silver: +65%
Sugar: +59%
Cotton: +54%
Platinum: +52%
Natural Gas: +43%
Palladium: +32%
Wheat: +19%
Coffee: +13%
Gold: +3%

Gold doesn't even keep up with INFLATION!
Boomer Economics™, Ladies and Gentlemen!

[Shami-Amourae]

I posted a horror story about Tether a couple of weeks ago where the supposed dollars backing the Tether were no where to be found.

Sounds like another fractional reserve story, come to the crypto land.

Everyone is shifting to USDC right now. It's mostly foreign exchanges that are still using Tether. Most Americans and American exchanges don't touch Tether (it's trash).

[EE_]

Some price changes in $USD over the last year:

Bitcoin: +330%
Lumber: +265%
WTI Crude: +210%
Gasoline: +182%
Heating Oil: +107%
Corn: +84%
Copper: +83%
Soybeans: +72%
Silver: +65%
Sugar: +59%
Cotton: +54%
Platinum: +52%
Natural Gas: +43%
Palladium: +32%
Wheat: +19%
Coffee: +13%
Gold: +3%

Gold doesn't even keep up with INFLATION!
Boomer Economics™, Ladies and Gentlemen!

You're a kook!
Going back four months, lumber is down -75%, bitcoin is down -50%
Gold is up and gold is real money!
Millennial Air-Head Economics™, Ladies and Gentlemen!

None of the things you've listed can be held in your hand...not even Millennial Air-Head coins.