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Thread: New York State Approves 2 Dollar-based Cryptocurrencies

  1. #1

    New York State Approves 2 Dollar-based Cryptocurrencies

    https://news.slashdot.org/story/18/0...yptocurrencies

    Today, New York approved the first digital currencies that are tied to the US dollar, called "stablecoins." From a report:

    These cryptocurrencies avoid the price volatility of their brethren by being pegged to stable assets. The digital currencies in question, from Gemini Trust Company and Paxos Trust Company, are available to trade on their respective exchanges. The Winklevoss twins, who rose to fame with a lawsuit suing Mark Zuckerberg for stealing the idea for Facebook from them, have become major players in the cryptocurrency world. They are behind Gemini Trust Company. The currency is pegged to the US dollar on a one-to-one basis; the company will hold US currency that corresponds with all issued Gemini dollars at a bank eligible for the FDIC's pass through insurance.
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    Belief, Money, and Violence are the three ways all people are controlled

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    Our central bank is not privately owned.



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  3. #2
    the company will hold US currency that corresponds with all issued Gemini dollars at a bank eligible for the FDIC's pass through insurance.
    So it will probably be worthless eventually too..
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

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  4. #3
    Quote Originally Posted by dannno View Post
    So it will probably be worthless eventually too..
    Worthless to us, but a powerful weapon of the Elite.
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    Belief, Money, and Violence are the three ways all people are controlled

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.

  5. #4
    Ya , I do not need more digital dollars . No thanks .
    Do something Danke

  6. #5
    The currency is pegged to the US dollar on a one-to-one basis
    So what exactly is the advantage of buying them? Can I use them in more places than I can dollars?
    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

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    I am Zippy and I approve of this post. But you don't have to.

  7. #6
    Quote Originally Posted by Zippyjuan View Post
    So what exactly is the advantage of buying them? Can I use them in more places than I can dollars?

    Right, whats the point of these if its pegged/backed to the dollar.
    - SUPPORT FREE TRADE, SMUGGLE -

    2 + 2 = 5.



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