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CryptoCurrency Discuss all CryptoCurrencies / coins and their use for personal or business purposes. Bitcoin (BTC) is possibly the best known but there are numerous crypto currencies, this is the forum to discuss them all.

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  #1  
Old 05-20-2018
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Default Circle USD Coin new cryptocurrency coin

Circle, a payment startup owned by Goldman Sachs, announced yesterday that it’s launching a new cryptocurrency called the Circle USD Coin.

looks like another offset of the us tether coin.........

what do you guys think of this?


basically digital money......no volatility......store of value......100% stable coin.....

https://blog.circle.com/2018/05/15/c...gic-financing/
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Old 05-20-2018
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Default Re: Circle USD Coin new cryptocurrency coin

Hmm based on the US Dollar.

https://themerkle.com/what-is-the-usdc-stablecoin/

I dont see much gain in the value of this coin then - just "steady Eddy"
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Old 05-21-2018
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Default Re: Circle USD Coin new cryptocurrency coin

Interesting..

Tether has a bunch of controversy/shady characters, the community would probably appreciate a more reputable company. But then again its coming from a centralized place and probably with strict us regulations. Competition to Tether is probably a good thing in the long run
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Old 05-21-2018
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Default Re: Circle USD Coin new cryptocurrency coin

Didn't they offer bitcoin some time ago and later pulled support? Or am I thinking of another payment processor?
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Old 05-29-2018
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Default Re: Circle USD Coin new cryptocurrency coin

Anyone that can print there own money is F#cked...

What do you think of our banking and federal reserve system in the US now?

When one of these dollar backed currency's fail because they printed out more USD than they have... Crypto will be in the worst bear market seen to date... Way worse than the Mt. Gox hack...

What do you think of Goldman Sachs printing out money to insert into Crypto exchanges? After all Crypto Currency is their only competition...

Last edited by nate; 05-29-2018 at 12:32 PM.
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Old 05-29-2018
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Default Re: Circle USD Coin new cryptocurrency coin

Quote:
Originally Posted by nate View Post
Anyone that can print there own money is F#cked...

What do you think of our banking and federal reserve system in the US now?

When one of these dollar backed currency's fail because they printed out more USD than they have... Crypto will be in the worst bear market seen to date... Way worse than the Mt. Gox hack...

What do you think of Goldman Sachs printing out money to insert into Crypto exchanges? After all Crypto Currency is their only competition...
So you're saying if they enter the crypto market, their (USD backed) crypto currency fails, it will have a detrimental impact on all other cryptos such as Bitcoin?

I would of thought it would (long term) give people confidence that Bitcoin is the bigger, better currency given its "finite" quantity. hmm...
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Old 05-29-2018
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Default Re: Circle USD Coin new cryptocurrency coin

Quote:
Originally Posted by Play View Post
So you're saying if they enter the crypto market, their (USD backed) crypto currency fails, it will have a detrimental impact on all other cryptos such as Bitcoin?

I would of thought it would (long term) give people confidence that Bitcoin is the bigger, better currency given its "finite" quantity. hmm...
Day traders come out of BTC, ETH, LTC ect... into a stable coin such as tether or this new circle based USD backed coin...

What would happen if the Government did a audit on tether or this new circle coin and came to the conclusion that Bitfinex or Circle printed out more tether than they had USD in the bank to back it... Essentially printing their own money out of thin air... The Government would shut them down and millions of traders would be left holding worthless coins... Which would in-turn drive those people away from the market with a very sour taste in their mouth...

The Mt. Gox hack didnt lose everyones BTC... Only the people that held their coins on the Mt. Gox exchange but it put the whole crypto market in a two year bear market...
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