Goldman Sachs introduces dollar backed crypto

Bad choice to choose ETH as the blockchain to build the coin on as it scales quite badly. Stellar Lumens would have been much better.

Secondly, these stablecoins tied to USD or other fiat are the new ICO, most will fail and now they are starting to be too many to count... why would anyone need 10 different stablecoins tracking the price of USD?

Thirdly, what happens if the USD goes under and ends up hyper inflating? The point of cryptocoins is to replace the fiat system not mirror it.

Alas, curious to see if institutional coins will fare better than others such as USDT.

Last Edited by Alma99 on 10/01/2018 07:47 AM

It just makes the adoption of cryptos easier. They get old money to latch into these new FedCoin's, which can then be used on the crypto exchanges to buy BitCoin, XRP or LiteCoin, etc.

"Investors and traders need seamless on and off-ramps for fiat currency into the exchange ecosystem, and need to be able to hedge in and out of volatile crypto assets, as well as move stable value across exchange venues to seek arbitrage and liquidity opportunities. "


See source:
[link to blog.circle.com (secure)]

Which also includes this dandy:


"“In the next 12 months, cryptocurrencies will finally start getting mainstream adoption as decentralized applications like Origin-powered marketplaces start competing head-on with traditional web and mobile applications. Stablecoins like USDC will be absolutely essential in enabling everyday buyers and sellers to easily and instantly transact with each other across homesharing, ridesharing, contractor services, and many other categories without currency volatility risk. Origin is thrilled to partner with Circle to provide a reliable medium of exchange cryptocurrency on our platform and our partner applications as we aim to reduce transaction fees, promote free and open commerce, and redistribute value from corporate monopolies back to individual buyers and sellers."
-Matt Liu, Origin Protocol Co-founder





In other words, they are warming up the mainstream engines to get cryptos into the hands of big institutional and old school money.

Evil Corp introduces E-Coin

bad idea .

[link to usdebtclock.org]

Yep, whoever buys this backed by the dollar is ONLY buying for the anonymity of the crypto, not as an alternative store of value. ITS A TARP!!! A list of people likely to be engaging in nefarious transactions

Pine!