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10303355 No.10303355 [Reply] [Original]

IBM Is Helping Launch a Price-Stable Cryptocurrency Insured By the FDIC

The latest attempt to create a cryptocurrency pegged to the U.S. dollar, or "stablecoin," combines 21st-century technology with an invention from the Great Depression.

Announced Tuesday, a startup called Stronghold is launching USD Anchor, which will run on the rails of the Stellar blockchain and use its consensus mechanism to verify transactions. The token will be backed one-for-one with U.S. dollars held at a Nevada-charted trust company called Prime Trust, which in turn will deposit the cash at banks insured by the Federal Deposit Insurance Corp.

>> No.10303365

>>10303355
https://www.coindesk.com/ibm-is-helping-launch-a-price-stable-cryptocurrency-insured-by-the-fdic/

>> No.10303394

>>10303355
So, a centralized Tether then? How are tokens gonna be distributed? 1-1 ratio for what I have in the bank, or are a select group of whales gonna baghold and dump it on the goyim?

>> No.10303427

>>10303355
Holy shit xlm is such is a comfy hold

>> No.10303430

>>10303394
stfu and buy before it hits 1$ fucking brainlets

>> No.10303477

post gets shoved to the back cause u not uspose to see this shit u fucking tard nuggets

>> No.10303518

xlm set to takeoff, almost there

>> No.10303571

Rip jcash/jnt. Another day another stable coin.

>> No.10303823

>xlm will never get back to the ath where I bought it

Free me from these bags stellar snek

>> No.10303841

>>10303823
You made me laugh anon stellar snekky snek

>> No.10303887

>>10303430
ahh...how the fuck could you buy something that requires a $1 deposit for less than a dollar?

>> No.10303947
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10303947

>tfw this coin cannot stop winning
is this what it's like to be trump?

>> No.10304241

>>10303355
rocket to the fucking end of galaxy faggots

>> No.10304371

i want to buy XLM but it makes me nervous as fuck with the low circulating supply. if they release the lumens over a 10 year period like they said that's crazy hidden inflation with 8 billion added to the circ supply every year.

this would add inflation (aprox.) at these rates:
1st year = 30%
2nd year = 25%
3rd year = 20%
4th year = 15%
5th year = 10%
6th year = 8%
and so on..

and that's not counting the fact that those tokens given out may be sold which doubles the inflation if they do. lets say half of the new tokens that are distributed for free are sold off, you're looking at a loss of 80-90 % over the next few years.

I would wait until the supply is at least 50% in circulation before buying lumens

>> No.10304421

>>10303355
>>10303427
>>10303518
>>10304241

If its stable how is it supposed to moon?

>> No.10304482
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10304482

>>10304371
Dont forget stuff like this here

>> No.10304516

>>10303355
>TFW you're backed 1:1 with a dollar that isn't backed by anything.
So everything in this world that involves money pretty much is backed by just faith we have in it? HAHAHAHAHAHA. Life is the fucking matrix.

>> No.10304556

>>10304371
Thanks anon, you've unironically convinced me

>> No.10304566

>>10304516
>backed by nothing
>backed by worlds largest military snd nuclear Arsenal magnitudes larger than the next ten countries combined.

Pick one

>> No.10304567
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10304567

THIS SHIT WILL DUMP SO HARD!

>> No.10304582

>>10304567
Keep holding those unbacked tethers anon.

>> No.10304595

>>10304582
Tether is backed by ING bank unironically

>> No.10304621

>>10304566
>muh military
its backed by nothing

>> No.10304652
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10304652

Stellar is led by a fraudster

>> No.10304658

>>10304621
Human beings are actually backed by nothing
>muh recursive argument

>> No.10304711
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10304711

>>10304658
What the hell are you saying

>> No.10304724

>>10304566
That's not what fiat is backed by jackass. Its literally worthless paper if no one accepts it.

>> No.10304828

>>10304658
>the dollar is backed by human beings