Cryptocurrency is proving to be best kept as standalone liquid asset and NOT as a liquid asset that mirrors and gimmicks a FOREIGN CURRENCY.
The concept of stablecoins has created a disaster of gimmick cryptocurrencies. Many of which have been spectacular failures. Shotgun shells for crypto critiques.
USDT, USDC, BUSD, DAI, TERA USD, USDD, AUSD, USDN and others. The algorithms and reserves they have are failing to keep up with the demand and trading orders. All of these have depegged at least once or forever. Meaning the lost value against the foreign currency they claim to be parallel to. 1 USD must equate 1 USD STABLECOIN in theory.
In my opinion most if not all stablecoins currently don't have any reserves and are proving to be Ponzi schemes.
The biggest is allegedly USDT without proving $70 billion of assets it claims to hold that back each and most USDT with usd and other assets. USDT is currently the most popular and currently over 10% of the entire Cryptocurrencies market capitalization. Over half of The top 10 cryptocurrencies are stable coins gimmicking USD.
Stablecoins are necessary in cryptocurrency tho the methodology being used are destroying the concept. USDT became the largest because they supplied the demand for people to instantly trade their cryptocurrencies for a gimmick or surrogate to FOREIGN CURRENCIES.
CBDCs (central bank digital currency) are being made to mitigate the perceived digital counterfeiting. They are too regulated with too many limitations on how much you can hold, spend, send/receive, where you can do so and with who within certain time period s. NIGERIA, CHINA, JAPAN, EUROPE, USA all have and are testing stablecoins.
I'm curious to if they use their own Blockchain forks or other information system like hashgraphing centralized ledgers similar to union pay or swift.
Charity begins in mi casa!
Donations of all cryptos always accepted ask me for my address for any other crypto I will peovide:
Bitcoin
bc1qytflk8gz5umluhxhf5pfq7q5qcym3unja3d9hq
Ethereum
0x42c11F246d443af5C1A9aFD856382aEF32439886
Litecoin
ltc1qh80nalyrunyvrsvw6mpe2tzn4pt0s4lycprewy