EXARRPEE 39 Posted June 20, 2019 Share Posted June 20, 2019 How many new stablecoins did we see in 2019? Now that FB has thrown its hat into the ring, I expect a flood of new stablecoin whitepapers to drop in 2020. Get ready for the stablecoin Bubble! What does it take to make a stabelcoin? Not much, I suppose. https://sifted.eu/articles/monerium-challenges-facebooks-coin/ There is going to be a land grab in the not too distant future, Libra may not even be a top contender. All the big players are going to choose sides or create their own. Consumers will start shopping around for the ‘Best’ Money. The public will become increasingly more aware of how their money functions in the economy and the the risks associated with the money in their wallets. All these stablecoins are going to have to start offering users benefits other than accommodating value transfer IE passing interest on deposits onto the holder. Good-bye traditional banks! The competition for money will be intense. The flood of new entrants will cause a call for regulation. Expect central banks to hop on the bandwagon. There will soon be a flood of old money into the new IoV. And it’s going to happen quick. Best news of all is… I know this great bridge asset that will help exchange value between all these new networks. GiddyUp, pucksterpete, Julian_Williams and 1 other 2 2 Link to post Share on other sites
Popular Post XRP-JAG 3,981 Posted June 20, 2019 Popular Post Share Posted June 20, 2019 17 minutes ago, EXARRPEE said: What does it take to make a stabelcoin? I did some research on this (thank me later). The main criteria would seem to be it's a coin, and it's stable. bloodhound, Johno, ADingoAteMyXRP and 7 others 1 9 Link to post Share on other sites
EXARRPEE 39 Posted June 20, 2019 Author Share Posted June 20, 2019 8 minutes ago, XRP-JAG said: I did some research on this (thank me later). The main criteria would seem to be it's a coin, and it's stable. lol... I was going for what does it take regulation wise. From the link: Quote "Monerium has become the first company to win an e-money licence that operates on the blockchain, which means that it can create e-money (effectively digitised fiat currency) which can also be traded cross-border without a financial intermediary. Having received the Financial Supervisory Authority of Iceland’s blessing to provide fiat payment services on a blockchain across the European Economic Area, it could create an explosion on the use of e-money across the continent." The e-money licence makes it look like it's not a high bar. Link to post Share on other sites
XRP-JAG 3,981 Posted June 20, 2019 Share Posted June 20, 2019 Probably not a lot I suppose. Biggest challenge is probably convincing people to pay $1 (or whatever) for your coin in the first place. People need to have a reason to buy it in the first place, and confidence they’ll honour the conversion back to FIAT. I think what Binance have done is very interesting with BNB to pay fees at a discounted rate. Maybe something eBay or Amazon could do at some point, either as a stablecoin or something with floating exchange rate. Link to post Share on other sites
dr_ed 8,204 Posted June 20, 2019 Share Posted June 20, 2019 Wen stable coin moon? jlr, tar, DarthTrader and 1 other 4 Link to post Share on other sites
Truckdriver 21,073 Posted June 21, 2019 Share Posted June 21, 2019 FB , JPM ....... entertaining themselves at XRP, we know how this turns out GiddyUp, EXARRPEE and cryptoxrp 1 2 Link to post Share on other sites
Danny 724 Posted June 21, 2019 Share Posted June 21, 2019 (edited) On 6/20/2019 at 8:56 PM, XRP-JAG said: I did some research on this (thank me later). The main criteria would seem to be it's a coin, and it's stable. And is able to lose purchasing power, I would add. Edited June 21, 2019 by Danny GiddyUp and dr_ed 2 Link to post Share on other sites
Toroth 410 Posted June 21, 2019 Share Posted June 21, 2019 Reminds me of early American history when almost every state had their own "dollar". jag216 1 Link to post Share on other sites
cryptoxrp 1,123 Posted June 21, 2019 Share Posted June 21, 2019 (edited) On 6/20/2019 at 8:56 PM, XRP-JAG said: I did some research on this (thank me later). The main criteria would seem to be it's a coin, and it's stable. My research completely endorses this excellent and elaborate study of the stablecoin. The stability of the stablecoin has earned it’s place in high finance because as stated earlier... the coin is very stable and (now for the hidden feature) creates a huge centralised ‘stable pool of fiat’ for the controller/supplier of the stablecoin to invest at it’s own discretion. A perfect technical solution for by example JP Morgan or Facebook. This huge ‘pool of fiat’ will be used to stabilize itself by investing in stable assets predetermined (and/or selected) by the supplier to be stable at all time. The solution is ideal in a sense that whenever a stable asset within the stablecoin value depreciates the supplier of the stablecoin remains unaffected and automatically the coin’s value resets to a lower value and stability is regained. Hence stability can allways be guaranteed at incidental lower values. Both JP Morgan and Facebook are renowned for their good practices in relation to trust, security and financial practices as a whole. We hail them for their creative and inspirational leadership. In Europe you can buy stablecoins at house parties. We call them (plastic) party tokens with which you can buy all sorts of retail stuff and drinks during the party. When the party is over the tokens which you have not spend become worthless. Also you cannot get your money back when you have bought tokens. You have to spend them at the party (party ~ JP Morgan / Facebook). The resemblance is uncanny.... Edited June 21, 2019 by cryptoxrp tar, dr_ed and EXARRPEE 1 2 Link to post Share on other sites
GiddyUp 4,029 Posted June 21, 2019 Share Posted June 21, 2019 I'm going to issue an unstable coin; it will be backed by a basket of depreciating currencies... oh wait... Truckdriver, Danny, cryptoxrp and 1 other 1 3 Link to post Share on other sites
tar 946 Posted June 23, 2019 Share Posted June 23, 2019 You cannot get more stable than this: cryptoxrp 1 Link to post Share on other sites
GiddyUp 4,029 Posted June 23, 2019 Share Posted June 23, 2019 Giddyup Link to post Share on other sites
EXARRPEE 39 Posted June 24, 2019 Author Share Posted June 24, 2019 The news is a few months old (04/25/2019) but. https://www.coindesk.com/payments-firm-wirex-launching-26-stablecoins-on-the-stellar-blockchain And this one (04/16/2019) https://www.coindesk.com/etoro-launches-full-crypto-exchange-and-8-custom-stablecoins The Stablecoins are coming... Link to post Share on other sites
Guest Posted June 26, 2019 Share Posted June 26, 2019 https://wirexapp.com/global/wirex-token anyone looking into this token launch? i can't see a HUGE amount of utility unless wirex really takes of, and it still seems pretty niche to me however, it IS a UK regulated money services business... which actually goes a bloody long way you can't screw around with financial products in the UK the way you can on F*cksville Island somewhere Link to post Share on other sites
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now