-A stable coin that is backed up with gold will definitely rise and fall according to the price of gold, right?
A stable coin that is backed up with gold will definitely rise and fall according to the price of gold, right?
Or what kind of coins will be created, will they be like USDT, USDC and DAI coins?
A stable coin that is backed up with gold will definitely rise and fall according to the price of gold, right?
To be honest, I do not believe in such statements, especially from countries in which the entire government consists only of corruption, it is just another duck), which develop once again, now not even one fiat currency is not backed by gold, or anything else, and here they will provide cryptocurrency with gold ;DRussia Mulls Gold-backed Stablecoin, Lawmaker Confirms After Iran Visit(https://i.imgur.com/O06RPoXm.jpg)
Russia may issue a stablecoin backed by gold to use in international settlements, a high-ranking member of the Russian parliament has admitted. The matter has been discussed during a recent visit to Iran... See more for yourself here (https://news.bitcoin.com/russia-mulls-gold-backed-stablecoin-lawmaker-confirms-after-iran-visit/).
Your opinion is greatly appreciated.
To be honest, I do not believe in such statements, especially from countries in which the entire government consists only of corruption, it is just another duck), which develop once again, now not even one fiat currency is not backed by gold, or anything else, and here they will provide cryptocurrency with gold ;D
It is not the first time we all hear that the dollar will soon depreciate and no one will use it, but in fact it is the most popular currency in the world.To be honest, I do not believe in such statements, especially from countries in which the entire government consists only of corruption, it is just another duck), which develop once again, now not even one fiat currency is not backed by gold, or anything else, and here they will provide cryptocurrency with gold ;D
Hi Wiseman
They don't need to back up that new currency with gold.
They only need to peg its value to gold.
This is the problem: those countries trade with each other,
on a regular basis they have to settle their balance,
they don't trust each other's currency,
Russian don't trust Yuan,
Chinese don't trust Ruble.
Until today these countries settled their trade balances with $,
today we are in the process called de-dollarisation = countries don't trust the $ anymore so they leave it aside,
so they need a new currency which is more stable than $.
Which currency is more stable than the $, is internationally liquid like $, and doesn't create political dependancy like the $?
Gold.
This new currency - which will be used only for international trade settlement, not as a means of payment within countries - doesn't need to be backed up by metal stocks stored in a vault some place.
This new currency will simply have its value pegged, linked to the price gold.
but in fact it is the most popular currency in the world.
It is not the first time we all hear that the dollar will soon depreciate
If we talk about what to replace it with, now it is the euro, its stability is ensured by the entire European Union.
Its stability?
Do you mean this stability?
(https://de.goldbroker.com/media/image/cms/media/images/since-inception-euro-has-devalued-by-85-against-gold/value-euro-vs-gold.png)
Don't change the subject Wiseman
The point of my posting was your statement that that new currency needed to be backed up by metal stocks stored some place.
I explained why that's not true.
That said, let's turn to the points you are making nowbut in fact it is the most popular currency in the world."The global de-dollarization campaign is gaining momentum, as countries around the world seek alternatives to the hegemony of the US dollar.
China, Russia, Brazil, India, ASEAN nations, Kenya, Saudi Arabia, and the UAE are now using local currencies in trade."
I will put it simply, I do not believe in providing something with gold, not only fiat currencies but also as in the title of this topic in providing cryptocurrency with gold
but I know that if I have it I can go to any country and even use it there, or in extreme case I will exchange it, which is not the case with other currencies.