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Crypto-giants Coinbase & Circle launch dollar-backed USDC stablecoin (GoldmanSachsFed $ replmt)
CNBC ^ | 10/23/2018 | Kate Rooney

Posted on 10/23/2018 6:46:47 PM PDT by MarchonDC09122009

Cryptocurrency giants Coinbase & Circle launch dollar-backed USDC 'stablecoins' (Goldman Sachs Fed Reserve NWO Fedcoin)

https://www.cnbc.com/2018/10/23/cryptocurrency-giants-coinbase-and-circle-form-a-joint-venture-to-boost-adoption-of-dollar-backed-stable-coins.html

The “CENTRE Consortium,” as it’s being called, will establish standards for listing fiat currencies in a digital form.

The group is aiming at mainstream adoption of cryptocurrencies known as “stablecoins,” which are backed by a government currency like the dollar.

Goldman Sachs backed Circle and Coinbase, which is reportedly valued at $8 billion, are among the best-known and most well-funded cryptocurrency companies.

A stablecoin known as "USD coin," which Circle says is pegged 1:1 with the U.S. dollar, will be available to buy and sell on Coinbase’s popular trading exchange as of Tuesday.

Kate Rooney | @Kr00ney

10/23/2018


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: cryptocurrency; fedcoin; goldman; usdc
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To: BlackAdderess

The Fed has been working on this for quite sometime.

https://www.uscybersecurity.net/fedcoin-fedwire/

Cybersecurity and the Modern World Fedcoin: Should the Federal Reserve Have a Cryptocurrency?

Sam Mercaldo 

Blockchain, Public Ledger, and Peer to Peer Sharing


21 posted on 10/23/2018 7:10:08 PM PDT by MarchonDC09122009 (When is our next march on DC? When have we had enough?)
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To: MarchonDC09122009

Give this 10 years to grow and infiltrate economics then say goodbye to cash. Then you will be tracked and recorded every penny you make and spend. All you need then is a mark on the back of your hand, hmmm sounds familiar.


22 posted on 10/23/2018 7:11:11 PM PDT by IVAXMAN
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To: JPJones
What the hell is the point of that?

I assume so people who want to speculate on bitcoin or other CCs can trade in and out of dollars more easily. Right now to exit CC temporarily you have to sell them for real dollars with a high commission than trading CC for other CC.

23 posted on 10/23/2018 7:12:11 PM PDT by palmer (...if we do not have strong families and strong values, then we will be weak and we will not survive)
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To: MarchonDC09122009

Fiat backed by fiat. Blatant attempt by central banks to create their own crypto in hopes to skew the crypto markets.


24 posted on 10/23/2018 7:22:40 PM PDT by Chauncey Gardiner
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To: ResponseAbility

LOL crinkle-cut!


25 posted on 10/23/2018 7:37:34 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: MarchonDC09122009

is a transfer, peer-to-peer,
or is goldmansacks involved?


26 posted on 10/23/2018 7:39:38 PM PDT by RockyTx
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To: Chauncey Gardiner

*****Blatant attempt by central banks to create their own crypto in hopes to skew the crypto markets*****

The central banks will control ALL of crypto faster than anyone thought possible. It will only happen because they have been able to prop up current fiat by debt for so long that people still trust the current fiat money. Now people(and banks) can plunge headlong into crypto. Try demanding total transparency of government transactions that will be demanded of individuals transactions since all transactions can now be traced. Good luck with that one.


27 posted on 10/23/2018 7:46:58 PM PDT by ResponseAbility (The truth of liberalism is the stupid can feel smart, the lazy entitled, and the immoral unashamed)
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To: SaveFerris

Crinkle-cut and sandwich slices my friend, am I wrong?


28 posted on 10/23/2018 7:57:56 PM PDT by ResponseAbility (The truth of liberalism is the stupid can feel smart, the lazy entitled, and the immoral unashamed)
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To: ResponseAbility

Yeah, dill, right?

Great stuff.

I never really cared for sweet pickles. Must admit they worked on the $6 Burger at Hardee’s (Carl’s Jr. for some). (I think it was actually $3.99)

BUT I had them add regular pickles to mine.

I use those crinkle-cut dills on burgers, dogs, sandwiches.

Oh yeah.


29 posted on 10/23/2018 8:01:10 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: RockyTx

*****The “CENTRE Consortium,” as it’s being called, will establish standards for listing fiat currencies in a digital form.

The group is aiming at mainstream adoption of cryptocurrencies known as “stablecoins,” which are backed by a government currency like the dollar.*****

Establish standards, backed by a currency “like the dollar”. You tell me if GS will be involved.


30 posted on 10/23/2018 8:08:59 PM PDT by ResponseAbility (The truth of liberalism is the stupid can feel smart, the lazy entitled, and the immoral unashamed)
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To: ResponseAbility

if its not peer-to-peer.

nobody will bother with it


31 posted on 10/23/2018 8:15:35 PM PDT by RockyTx
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To: MarchonDC09122009

I heard that gold is backed by gold


32 posted on 10/23/2018 8:22:05 PM PDT by Mount Athos (A Giant luxury mega-mansion for Gore, a Government Green EcoShack made of poo for you)
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To: MarchonDC09122009

why not just buy real dollars instead and stuff them in your mattress instead of buying these fake 1:1 crypto dollar-backed thingies?


33 posted on 10/23/2018 8:25:38 PM PDT by catnipman ((Cat Nipman: Vote Republican in 2012 and only be called racist one more time!))
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To: MarchonDC09122009

“Elimination of cash and US Federal Reserve DEBT note.”

wouldn’t it be kind of hard to eliminate the thing that “backs” crypto dollars 1:1?

besides, cash is already easily eliminated by those stupid enough to want that ...


34 posted on 10/23/2018 8:28:03 PM PDT by catnipman ((Cat Nipman: Vote Republican in 2012 and only be called racist one more time!))
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To: MarchonDC09122009

You guys are missing the point by concentrating on the US. That isn’t what this is aimed at. This is to give people in countries with less stable currencies a chance to ditch their Bolivian or Angolan or Turkmenistani bills and do business in dollars, right down to taxi rides and burgers (or whatever the fast food is there). This is much like those countries which use US dollars now, or those that use French francs or pounds sterling, except without the paper currency.

In addition to adding stability to consumers in those places, it will undermine those countries with even worse budget habits than the US, forcing them to be more responsible. It also will make huge profits for the US banks doing it, at least until the foreign governments figure out how to shut it down.


35 posted on 10/23/2018 8:37:06 PM PDT by VanShuyten ("...that all the donkeys were dead. I know nothing as to the fate of the less valuable animals.")
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To: MarchonDC09122009

The whole point of Crypto was to cut out the banks.


36 posted on 10/23/2018 9:21:44 PM PDT by Shadow44
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To: MarchonDC09122009; Swordmaker

If I understand this correctly, this runs the risk of backfiring bigtime. A run on the crypto-bank could crash it just like a regular bank.

Hacked, scammed, on own: Cryptocurrency ‘wild west’...

https://www.reuters.com/article/us-crypto-currency-crime/hacked-scammed-and-on-your-own-navigating-cryptocurrency-wild-west-idUSKCN1MS0F7


37 posted on 10/23/2018 9:22:17 PM PDT by Arthur Wildfire! March (News and poltiicians who ignore James O'Keefe are fake and evil.)
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To: nutmeg

.


38 posted on 10/23/2018 9:41:26 PM PDT by nutmeg
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To: JPJones

They want to move you to digital currency so they they monitor literally everything you do... they can use fbook and google to monitor your spending habits ... they can implement negative interest rates... they can introduce minimum liveable wages ... and most of all they can hide the fact they stole all the social security money and they have no way to pay any of the unfunded pensions that are about to bankrupt 100 cities!!!!

When the currency reset happens... they need negative interest rates to be able to force you to spend... as everyone will naturally be hoarding money.


39 posted on 10/23/2018 10:07:38 PM PDT by willyd (I for one welcome our NSA overlords)
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To: MarchonDC09122009
Goldman Sachs backed Circle and Coinbase..

I thought the point of having a "crypto currency" was to keep Goldman Sachs out of it.

40 posted on 10/24/2018 12:10:56 AM PDT by AAABEST (NY/DC/LA media/political industrial complex DELENDA EST)
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