USD Coin?

USD Coin?

By trevorbalthrop | Trevor Balthrop | 29 Dec 2019


Why hello there!


USD Coin

Almost out of nowhere like living in a cave hibernating. New coins have emerged within the last year or so.

Many of them come in the form of stablecoins!

Except there is something strange happening behind the scenes that is going unnoticed.

What is strange is that these new coins sort of slipped into the marketcaps almost instantaneously and also received great backing by places like Coinbase for example.

All while places like US Congress slow down projects like Facebook's Libra.

Interesting call when they themselves already have their own crypto project now. 

Sooooooooooooo.... 

Where did USD Coin come from and how did this all of a sudden become a normal thing in the cryptoworld we know today?

It seems like yesterday we were just living in a world of fear that US Government would condemn such a thing from happening.

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USDT, TUSD, and USDC

That's right ladies and gentlemen, these three currencies are being openly adopted and backed by some of the biggest influencers in the United States. It is hard not to refrain from saying this is all hush news and a secret. This is because it is so obviously being adopted while so obviously being downplayed at the same time. It's no secret, it's just a bunch of rubbish we are being fed!

This confusion has caused difficulty for the public to see how the world has started to make up their minds on Cryptocurrency. As it slowly becomes the future that must be adapted to. Governments, banks, and businesses both in the US and worldwide are growing adoption quickly. Planning for 2020 to be the year that these new stablecoins become pushed and marketed more to the public than ever before. 

In particular, the largest three we have seen come about that seem to be backed by both the US Government and "too-big-to-fail" banks are Tether USDT, TrueUSD TUSD, and USD Coin USDC. 

These stablecoins all three serve the same purpose which is to mimic the value of a United States dollar except in digital blockchain form. Except that there is one small thing that not a lot of us are seeing here. Which is that our Government is now actively playing a role in and participating in this new digital economy they so famously have resisted for so long. 

Or maybe I have just been living under a rock for the past year or so? Missed an announcement maybe? I don't know!

The fact of the matter is this, which is that these coins are working for a lot of wallets now.

Now even Binance.us is up and operating under federally regulated standards.

Now these are coins that we must remember are not truly decentralized either.

Because these crypto currencies were derived by and forever managed by the very same groups that work in both our government and banking institutions. We must be weary but not be scared.

In fact, USDC is backed by the infamous Goldman Sachs and is likely a conglomeration between them, the Federal Reserve, and our many other branches of government in the United States that want in on this gold mine.

So what exactly is going on here?

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Now of course this is only speculation on apart of the author here on this publish0x website we are all loving so much.

So please hear me out! Take a second to think about how that means the future of bitcoin and cryptocurrency will go. 

We know for sure now there is not a dang thing anyone is going to do to take us down unless we are truly doing something beyond terrible and need to be taken down. Which means a little bit of freedom has just been won!

Meanwhile, while our freedom feels nicer, in reality what is happening is our reserves and confiscated currencies. Are now being slowly pumped back into circulation through these three currencies but also through other means such as printing more paper money. Looser banking laws for more investing right before a huge halving. A notoriously huge calendar year marking 2020. Then on top of that, not just one but three stablecoins that are suppose to represent the value of your traditional one dollar bill. 

Thought we had DAI for that!

Anyways... 

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The good news is it looks like some of the toughest critics of Bitcoin and cryptocurrency have finally come around. Still in the closet or at the very least are finally starting to come around as they show the ultimate patience.

Pulling around our emotions as they make more and more money off of us. 

This is likely why we have seen very interesting behaviors in the cryptomarket while at the same time also seeing hugely interesting stock market records nearly every week recently. It's almost like those at the top are experimenting or trying to balance things in their favor as much as they can. Trying to find a comfortable zone to make their best moves in. 

Which may be exactly why we never see bitcoin drop as low as 3 or 4 thousand ever again! Some may even go as far as to say bitcoin may never reach $5000 ever again or at least for quite a long time. If you were lucky enough to invest around the $6000 dip recently here in December and November. Hodl that with your life because it is going to be difficult for these scales to tip that low before the May halving. 

It seems the Bearish downward spiral that has plagued the markets recently has slowly but surely come to an end. Which means it's only a really volatile bumpy road up from here.

In the meantime if you're looking for a good place to save your money. These new stablecoins are a great way for people to get into investing safely and without losing so much money. TUSD, USDT, USDC and DAI among other stablecoins are great safehavens for you to deposit gains to! With the possibility too of them even gaining a little bit of interest while it sits there. 

Do you think it is a bad thing or a good thing Governments are experimenting with crypto?

Let us know in the comments!

I will be actively responding and would love to see all thoughts


trevorbalthrop
trevorbalthrop

Official Website: https://www.trevorbalthrop.com | Bitcoin ₿ | Blockchain | Author on Urban Dictionary | CEO of www.DrinkingGames.beer | First teenager hired to work for Google back in 2011 |


Trevor Balthrop
Trevor Balthrop

All about Bitcoin, the future of Blockchain, understanding Market Connections, and general Call Outs. Enjoy the hodl life!

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