Digital stable coins are useless without Crypto currencies.

[ahmedo24]

Countries of the world like China, India with few other countries are working hard to launch a digital version of their national Currency. To me these coins will be useless without crytpo currencies been in place because people won't use them as they had no value to their Investment. Share your thoughts.

 

[Ralphjoe]

This is just the plain old truth, people won't use these government digital version of fiat currencies, this is because they are not volatile and people cannot make profit on stable currencies. The volatility of a coin is what makes people to invest on that coin.

 

[Akinwale701]

Countries of the world like China, India with few other countries are working hard to launch a digital version of their national Currency. To me these coins will be useless without crytpo currencies been in place because people won't use them as they had no value to their Investment. Share your thoughts.

That's very true. The performance of digital stable coins are measured against the level of increase or decrease in other cryptocurrency like bitcoin and Ethereum, so should there be no other cryptocurrency, automatically digital stable coin will be usless

 

[ahmedo24]

That's very true. The performance of digital stable coins are measured against the level of increase or decrease in other cryptocurrency like bitcoin and Ethereum, so should there be no other cryptocurrency, automatically digital stable coin will be usless

Yes of course , Crypto currencies are the basis on which even USDT has such a huge market capitalization it has currently, the moment Crypto currencies seize to exist all sable coins volume will be drastically reduced because very many people don't engage online to use this Stable coin.

 

[Jlife]

It is true, most of this coin may not have value because usdt is the only stablecoin that are used all the time, the only function is of the stablecoin is that it will make people to carry out online transaction easier and payments in digital currency.

 

[GIFTMICHAEL]

They're simply serving a purpose of their own. Since not everyone enjoy the volatility in other Cryptocurrencies they just store their assets using stable coins.

 

[Ub40]

I don't really know much how stable coins work with crypto currencies so I have come in to check people's opinion on it. In fact, I have really learnt from all the comments so far. I have always believed that there are so much to be learnt here while earning. Thanks for sharing.

 

[Hena101]

This is just the plain old truth, people won't use these government digital version of fiat currencies, this is because they are not volatile and people cannot make profit on stable currencies. The volatility of a coin is what makes people to invest on that coin.

You are right Sir, the main reason why peoples invest in crypto is because of it's volatility and this is what make them to make profit, so who will invest in what will not give him profit so to me is just a waste of time and resources that the government are doing because it will not yield a good results.

 

[Lordfalcao]

Not necessarily,it's all depends on the crypto currency or currencies involved and also the coin or coins in question as they both have there own strength and weaknesses too.

 

[Lens]

I think they are the same. Both digital and cryptocurrency are the same. Both are traded in the cryptocurrency market

 

[Fizzy_boi]

Actually I would have love to say much on this thread but I have little knowledge about the digital stable coin I don't really get them at all I will read more on them and get back here.

 

[eLdavis]

You are saying the truth though, majority of the persons into crypto trading or one from of crypto investment or the other would not be interested in holding such coins, there is actually no need investing in them since the price is stable. The only use i see of such coins is just for savings.

 

[Ralphjoe]

You are right Sir, the main reason why peoples invest in crypto is because of it's volatility and this is what make them to make profit, so who will invest in what will not give him profit so to me is just a waste of time and resources that the government are doing because it will not yield a good results.

The only thing that will make people to utilise any government digital currency is the fact that you can use it for most online transactions as the value is always stable and as it does not fluctuate. It will only be used as a payment currency.

 

[Nomad]

CBDC or Central Bank Digital Currency are not cryptocurrencies, it is the digital version of the fiat currency of the respective countries. They have nothing to do with crypto currency.

 

[Dowenship]

Countries of the world like China, India with few other countries are working hard to launch a digital version of their national Currency. To me these coins will be useless without crytpo currencies been in place because people won't use them as they had no value to their Investment. Share your thoughts.

You are wrong, if countries like India eventually launch digital version that doesn't make it useless but assurance that the coin as more potential than private ones.

 

[Nurudeen]

Those countries don't even know what they are getting their hands into. You said the truth and the countries are only doing that so that crypto currency won't take over the Fiat currency and render their Currency useless

 

[Snazzy001]

We should not be far for concluding and being over judgmental in cases like this, I could remember that bitcoins and all these cryptocurrencies had the same fate as the stable comes that are about to be launched

 

[ahmedo24]

You are wrong, if countries like India eventually launch digital version that doesn't make it useless but assurance that the coin as more potential than private ones.

You need to clarify or build your point on why you feel I am wrong because I gave reasons to support my opinion , I could be wrong if you can prove it

 

[Dowenship]

You need to clarify or build your point on why you feel I am wrong because I gave reasons to support my opinion , I could be wrong if you can prove it

My point is countries you mentioned just like China already have the digital currency and its not useless at all, some other countries are following suit and its never useless.

 

[GoldenLady]

Countries of the world like China, India with few other countries are working hard to launch a digital version of their national Currency. To me these coins will be useless without crytpo currencies been in place because people won't use them as they had no value to their Investment. Share your thoughts.

I think so too, but for a different reason. The most attractive feature of cryptocurrency is it's universal nature. It's anonymous and can be to any part of the world without paperwork and long procedures.

That's one thing national currencies will not have