/biz/ - Business & Finance

Updated LINK: https://www.coindesk.com/occ-banks-stablecoin-payments

>>25527889
I hope you bought, fuckers. We're going straight to $200,000 with absolutely NO survivors.

>>25527957
USDT?

>>25527889
Yeah. im thingken were gunna make it

>>25527889
>>25527920
>>25527957
Imagine those that sold now, holy shit.
This is it, we can indeed see a pump of historical proportions.
It may even be so that, those that invested even 5K or something may become millionaires at this point.

Remember how the narrative was?
>Crypto is a scam
>Banks hate it
>Banks wont have anything to do with it

Fiat backed stablecoins: basically only USDC which is backed by real dollars.

It might mean they’re ready to crush USDT now, and exchanges can no longer openly print money from thin air.

If you think this is good for btc, you’re delusional. It’s only good for Circle.

>>25527889
MODS STICKY THIS. THIS IS THE BIGGEST FUCKING NEWS THAT WE'VE HAD BASICALLY EVER

Guess they will be using Parsiq wallets. Who's laughing now 'just a wallet' fags

>>25527889
>The President’s Working Group on Financial Markets recently articulated a strong framework for ushering in an era of stablecoin-based financial infrastructure, identifying important risks while allowing those risks to be managed in a technology-agnostic way. Our letter removes any legal uncertainty about the authority of banks to connect to blockchains as validator nodes and thereby transact stablecoin payments on behalf of customers who are increasingly demanding the speed, efficiency, interoperability, and low cost associated with these products.
I want to be wrong but this sounds a lot like,
>The banks will be able to use blockchain on your behalf goy, but allowing you to transact with it is too risky.

sauce: https://www2.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-2.html

>>25527889

Hope you hold XRP & XLM

Good luck, friend

>>25528326
No, if banks use crypto to store their reserves, we will have literally infinite liquidity.

>>25527889
All in on BTC?

Do you retards seriously believe they will use current stablecoins on this shitty eth blockchain?
They will create their own stablecoin and use either permissioned blockchain or fast l1 like avax

Why aren't we pumping bros ?

This is huge

https://www2.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-2a.pdf

>>25527889
>thinks the banks will still be around in 20-30 years from now.

>>25528422
>The banks will be able to use blockchain on your behalf goy, but allowing you to transact with it is too risky
That would be the most American shit possible so it’ll probably happen

>>25528485
You have no idea what the word "literally" means.

>>25528482
this. just went all in on xlm

>>25528538
Hahaha, could you be anymore naive? You act like they haven't positioned themselves to be an entity in crypto you have to deal with. Let me tell you something: they have. Now, they're slowly setting up making it not only legal, but making it standard. Banks are the ones taht are going to own most of the Crypto that exists. Keep up, kid.

>>25528681
keep dreaming glowie

>>25528609
Why xlm?

>>25527889
Look at me niggers, I'm the central bank now

>>25528845
Cheap coin that hosts USDC.

>>25528749
Nice argument. Let me ask you something. If you were a powerful financial system and it was as clear as could possibly be to you that the current financial system was going to collapse, taking you with it, what would you do?
>A) Collapse, give up
>B) Look at the current technological opportunities, at what is already working and people already want to use what huge financial power you already have to gobble up a huge supply of the new digital currency to hold on to your power, and then legalize it and abandon the old fiat while continuing to hold a majority of the wealth in a more modern financial system

Nah, your "keep dreaming glowie" comment was much smarter and more inspiring than mine, who am I kidding?

>>25528499
Checked. Yes.

>>25527889
How do I get rich off of this?

>>25528482

Don't forget XRP. Trust me on this, anon.

>>25529342
Buy shares in Circle

>>25528951
Once the system collapses the crypto they got with funny money will stop being used at some point. Another better blockchain technology will slowly take over. But this time they won't have funny money to save their asses. Their power level will be drained and distributed to the real value providers proportionately.

>>25528482
>>25529364
>Holding the Kikecoin they designed to take your BTC and Ethereum away from you
Lmao holy fuck /biz/ is the most retarded board on this whole fucking site and you fucking cucks prove it.

>>25529570
Can't wait for you kikes to rope yourself

Spoon feed me what does this mean, what should we be holding?

>>25528422
It just says the banks can do it also. You can also create a mortgage company and have safety deposit boxes for sale.

>>25529667
strap in

>>25529513
what

>>25529667

BTC, ETH, XRP, XLM

>>25527889
What will be more significant is when you can use your debit card to pay with USDC at major stores

>>25527889
Dude, did you miss when last year the Fed decided to put the reserve requirements at 0%? This literally does not matter, why would banks bother at all with reserves at this point?

>>25527889
Reminder for every faggot on this board USDC uses The Graph (GRT)

>>25528482
Doubled down on 30k more Xlm
This will kickstart the new revolution

Right after those weak-handed fools sold

>>25529667

Lcx
If it’s legit they won’t do anything
Wild West of crypto is coMing to its end

>>25530494
delet

>>25528358
i dont think many will connect the dots
probably very few can connect the dots as far as the neets spending 16 hours a day in the cryptoverse
give it a couple days and the nerds on wall st will tell the chads to buy the fuck out of ______ (redacted)
then the works slowly gets out

>>25529570
XLM is being used as the backbone for many countries own virtual dollar. Brazil, Ukraine and many others are already developing using the XLM network

>>25530585
If you hold any XLM or ALGO, you will make it

>>25528562
Not really.
The banks trade in stocks, bonds, and other financial assets and real world assets like real estate;
>All of which are available to purchase by the public
>ALL of which have some innate level of risk involved
Why would they restrict the public from affecting their crypto when public reactions are what99% of all investment funds use to make guarateed income
>eg, buying Amazon or ebay at the start of the pandemic knowing businesses need to shut

>>25527889
>can hold
Lmao, who cares?

>>25528326
TETHER BAD

>>25528326
this anon gets it

>>25530376
>t. has no clue how the monetary system works

>>25530764
Kek

>>25529667
ISO200202 coins
XRP, XLM, ALGO, ADA, LINK and there are probably more

>>25528951
Us is positioning itself to control the secondary market as least for the west cause they don’t have the cheap electricity nor control of the miner tech to control the mining side and they’re already way behind chinkna there, a digital yuan will roll out and be worse then tether who’s gonna audit China when they pump their bags with trillions of yuan and profit cause they’ve nationalised ccp mining

LINK will be KING. stablecoins made possible because of LINK middleware.

he doesn’t understand that countries will soon be screaming at each other for manipulating the market with their digital currency, the same way plebs yell at tether , he doesn’t understand just how big this is gonna be. He had literally 12 years to buy, he avoided buying into the scarcest asset in history, the only 24 hour highly liquid market in the world. He still thinks he’s gonna make it, kek

>>25528326
CZ is getting Colonized (And That’s A Good Thing)

so this is it... Adoption

>>25529570
Please don’t lump us in with these faggots they are a delusional minority of schizophrenics who are extra schizy due to the stress of their net worth bleeding out while actual crypto is mooning

>>25528326
this entire pump this past week was tether minting a shitload of last breath transferring it to bitfinex illegally so they can cover up their 850m$ fuckup, believe me this is going to burn way before the 15th, these next 10 days are going to be fucking insane

>>25527957
bought which coins?

>>25527889
Does this mean USDT will finally moon? I've been holding for over 3 years now, the most it's seen is 1 cent high. I got in early at 98 cents.

Most of my savings are in USDT, it feels terrible to watch all the other coins moon while mine literally does nothing.

What gives?

>>25532082
>straight to 200.000$
he's talking about link anon

>>25532138
I'm new here.

My buy list is:
- BTC
- ETH
- LINK

- AAVE
- SNX

- XRP
- XLM
- DOGE

>>25527889
Banks wont hold stablecoins pegged to the same fiat currency they already are forced to hold in reserves. Banks will buy BTC, everyone who thinks that their sub 5 billion MCap shitcoin is going to be their choice is delusional.
Bankers dont give a fuck about technology, they just wanna bet on the winning horse and BTC is winning by a long shot.

>>25532318
Very decent, but consider ALBT aswell

>>25532318
oh and forget XRP forever