Cro cryptocurrency thread

[cherokeetroy]

I assumed because of the statements in section 4 that ALL stablecoins are to be backed by U.S. currency and Treasuries meant fiat U.S. dollar since it says ALL stablecoins. Are you suggesting instead that all stablecoins will be backed by U.S. stablecoin including U.S. stablecoin or? The wording seems to only make sense to me using fiat currency but im not infalliable who can say but I support it all the way whatever is chosen digital currency is definitely 100% the future no matter what for however long but currently my concern is that eventually AI tokenization and trading with Web4 will make crypto obsolete eventually except the the ones with extreme utility

I used the wrong term
I meant stablecoins are pegged to US dollar value

I don't know about the future but atm some stablecoins are backed by commodities like gold and other assets besides US dollar

The stablecoins that are backed by fiat currency, well...fiat currency is backed by the "full faith and credit" of the government 

As long as some type of government body exists, they can treat stablecoin like IOUs
The same way they treat fiat like debt notes

[ReturnofBroccoli]

I used the wrong term
I meant stablecoins are pegged to US dollar value

I don't know about the future but atm some stablecoins are backed by commodities like gold and other assets besides US dollar

The stablecoins that are backed by fiat currency, well...fiat currency is backed by the "full faith and credit" of the government 

As long as some type of government body exists, they can treat stablecoin like IOUs
The same way they treat fiat like debt notes

The U.S. dollar has yield and gold does not which makes fiat look appealing especially when the federal reserve talks of interest rates. Gold and the U.S. dollar typically move in opposite directions. A stronger dollar makes gold more expensive for foreign buyers (since gold is priced globally in dollars), which tends to decrease demand and price. Conversely, a weaker dollar makes gold cheaper abroad, increasing demand and price. So, they move into gold as the dollar falls and buy more dollars during the dip ;)


Agreed they will definitely treat a stablecoin like they do gold in their fiat-gold relationship but i dont think they will easily give up a system that makes them wealthy though but I can see them using that system to strengthen stablecoins like they do with gold and vise versa, savvy?

The stablecoins that are already priced in gold would already be a part of this system

[cherokeetroy]

The U.S. dollar has yield and gold does not which makes fiat look appealing especially when the federal reserve talks of interest rates. Gold and the U.S. dollar typically move in opposite directions. A stronger dollar makes gold more expensive for foreign buyers (since gold is priced globally in dollars), which tends to decrease demand and price. Conversely, a weaker dollar makes gold cheaper abroad, increasing demand and price. So, they move into gold as the dollar falls and buy more dollars during the dip ;)


Agreed they will definitely treat a stablecoin like they do gold in their fiat-gold relationship but i dont think they will easily give up a system that makes them wealthy though but I can see them using that system to strengthen stablecoins like they do with gold and vise versa, savvy?

The stablecoins that are already priced in gold would already be a part of this system

I think the hold up on passing the Clarity Act is a battle over stablecoin yield 
Legacy banks are trying to block it
Hopefully they don't win

I don't think the goal is to abandon the money system 
I think the objective is to move the entire system onchain
you can kind of see that's the trajectory with the push for tokenization of real world assets
And the beginning rollout of agentic AI

[ReturnofBroccoli]

I think the hold up on passing the Clarity Act is a battle over stablecoin yield 
Legacy banks are trying to block it
Hopefully they don't win

I don't think the goal is to abandon the money system 
I think the objective is to move the entire system onchain
you can kind of see that's the trajectory with the push for tokenization of real world assets
And the beginning rollout of agentic AI

Yeah thats pretty much what im saying the system has already started moving