Quote from: Abiky on August 31, 2023, 11:10:46 AM

Quote from: wxa7115 on August 25, 2023, 05:22:21 AM

This is coming, governments are not going to allow for centralized stable coins to keep on existing much longer, if they can make them disappear then a lot of traders will switch and will begin to use their CBDCs, and this means they will be able to ask them all kind of questions about the source of their funds.

And if they do not like what they hear they can easily block them and keep their coins, but for this future to come to happen independent stable coins need to be destroyed, which is why we are seeing the pressure on stable coins increasing lately.

The only way stablecoins will survive is if governments adopt them as their own. Something like a partnership between the issuing company and the government itself. That would eliminate the need for central banks to reinvent the wheel by launching their very own digital currency (CBDC). But there's a small chance this will happen in the future, as governments always want control over everything. We can say bye-bye to Tether for good once governments decide (especially the US government) to hit the "kill switch". It would be easy enough to shut USDT down because of its centralized nature.

I'm pretty sure a USDT collapse would be a huge blow to the crypto market. Prices will decline for a prolonged period of time. No one can predict the future, so lets hope for the best. Just my opinion

Governments' involvement with stablecoins? Interesting, but a little too perfect. Why? Centralized groups could shut down something like USDT, but doing so could cause a big fuss among crypto fans.

Now, heres where you're missing the bigger picture - stablecoins are merely an intermediate step! If you will, a bridge. As cryptos spread around the world and develop, they will become the new stable. They will be the gold standard that all other currencies try to match. So, lets say that Tether goes down. Its just a step. The end of one stablecoin wont cause the crypto world to fall apart. Prices going down? Trouble in the short run.

This is how technology has changed. It is bigger than both USDT and government banks. Think big picture, not small. And yes, there may be mistakes in thinking here, but isnt that what forecasting is all about? So, while we're in the "what-if" limbo, lets not lose sight of the bigger picture.