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re: Why bitcoin is worse than a Madoff-style Ponzi scheme

Posted on 12/26/21 at 6:27 pm to
Posted by rocket31
Member since Jan 2008
41819 posts
Posted on 12/26/21 at 6:27 pm to
quote:

It's the opposite? Cryptocurrency is to strengthen the USD?


stablecoins are backed by dollars (generally speaking..)

so if cyrpto becomes the dominant medium of exchange globally, that means dollars become more prominent

for example: someone in turkey would rather hold a USDC stable coin over the turkish lira, if given the option between the two. everyone wants dollars.

so giving access to dollars on stablecoin rails is a huge deal for those in countries with weaker currencies.

this is why the US is focusing so strongly on regulation of stablecoins.
Posted by Billy Blanks
Member since Dec 2021
3824 posts
Posted on 12/26/21 at 6:55 pm to
Stablecoins meaning btc, eth etc?
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