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.
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.
The idea has always been to replace the middleman. Banks will eventually fail as people begin to lose trust in them. With rising inflation rates, and economic uncertainty, we might see a future where decentralization will be the cornerstone of the mainstream economy. This means no banks and no evil corporations behind everything. People would be in-control of their money via the use of decentralized cryptocurrencies such as Bitcoin and Litecoin. The odds of this happening are very slim, especially when the world is still stuck with the "Fiat standard". Expect stablecoins to be relevant in the time being. Crypto is still in its early days, so let's give it some time and see what happens. Who knows if USDT's rise to glory will be short-lived? Just my thoughts
