Quote from: South Park on April 17, 2021, 07:25:45 PM

Quote from: lixer on April 15, 2021, 06:01:04 PM

Quote from: Abiky on April 03, 2021, 12:35:08 AM

will stablecoins replace Fiat currencies in the future? If not, why? Is there a possibility governments will adopt stablecoins as their own instead of launching digital currencies from scratch? Your input will be greatly appreciated.

I still believe that there is a big chance that we may see stablecoins created by governments that became corrupted like fiat, which will disturb the crypto market. How? Well if one government creates a stablecoin, backs it up with their nation treasure, then uses it to buy bitcoin, there is no end to it, how? They could use all the tax money to show they are good for it and sell stablecoins of their creation and buy bitcoin with it, most nations have 100+ billion dollars to do that, not ready to spend, but ready to show as proof they are holding it.

This is why it is quite dangerous to let them buy bitcoin with it, they would be rich overnight while people would be holding worthless stablecoin that they hope to use in their nation but that's as bad as it gets, if this idea is used for evil, it could destroy all of crypto market and make things crash very quickly.

Unfortunately there is nothing to do, bitcoin can be bought by anyone, in fact I would be surprised if governments have not accumulated bitcoin in secret for years, this is why despite the brilliant and advanced technology made by satoshi we still depend on the financial IQ of the average person, if they cannot understand why something like bitcoin that is scarce and that cannot be printed at will and in any amount desired by the governments is superior to fiat currencies then the future of bitcoin is not going to be as bright as we think it could be.

This! Absolutely, I am sure governments own Bitcoin as well. For almost any government a billion or even half a billion is nothing. Why not buy some of that chap junk and see what happens later on. I believe a lot of governments bought into Bitcoin long ago.