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[NoLimits15]

What if the policymakers decided to create a fully digitized version of the US dollar? What do you think would happen then? If you look at the current situation where the US is printing so much money to save the economy is just madness. One of the big problems of the digital US dollar is privacy and I'm not sure privacy can be maintained and moreover it would also have a lot of competition with bitcoin. What do you think?

 

[SCAMEXPOSER]

If the US decided to embark on digital dollar, they might be doing that to cushion the effect of crypto currency on their currency, in a way they are building protective fences for their "most powerful Fiat currency " a title US is not willing to let go

 

[Brain]

I don't think it will be a bad idea as well. It will help to boost their economy as well as help their currency which is the dollar. There might just be a stiff competition with crypto currency. In the first place Trump is never for Bitcoin.

 

[westmania]

At first glance I thought you were talking about USD equivalent cryptos where price nearly stable to $1 (USDT USDC PAX etc.). But now I see its different and complex evolution of United States Dollar.

 

[SCAMEXPOSER]

I don't think it will be a bad idea as well. It will help to boost their economy as well as help their currency which is the dollar. There might just be a stiff competition with crypto currency. In the first place Trump is never for Bitcoin.

Your last statement might be the major reason US wants to embark on digital dollar just to out shine bitcoin and crypto currencies as early as possible.

 

[westmania]

I cant see a clear pictute on how US dollar can be mapped virtually? is that like paypal balance we are viewing day "100 USD" or what can bd the implementation? will it be another crypto cause nit all digital currencies are necessarily cryptos.

 

[kaleembilal]

I seriously don't understand it how this digital dollar is going to work so that is something they will need to decide and I don't think such thing is possible because before taking a decision the president will have to take back all of his statements

 

[westmania]

Yes this is totally unclear and then how this digital dollar going to be traded with real Euro ? Main USD is also showing as balance in many sites so it will conflict adding confusion with digital dollar.

 

[westmania]

I think if the US happen to create a digitalized coin it'll be good for the market especially in the crypto market and will be a great competition for bitcoin as many people love using the US dollars but the thing is it could cripple their economy as they'll be many more illegal transactions using a decentralized coin which cannot be tracked

your last lines are very true friend. Already many coins are set up as $1 mark value like USDT, USDC, PAX, NAX etc though they are not USD. Now if USD enters digital world it might be dangerous for USD paper notes cause it can affect it vastly.

 

[Balint098]

Maybe it will be good for crypto, but also a threat for crypto. Because if that happens then Crypto has to fight against the digitized version of USD, which is backed up by the US government.

 

[brent_abella]

What a move & decision buy the US. Maybe because trumps doesn't want cryptocurriences to excel in the market or they wanted to control the market thru digitize US Dollar.

 

[Coolvibez]

I think us are really planning for the future , and want to make sure other popular crypto such as bitcoin does not rule over the use of their cryptocurrency. Creating their own digital currency can boost their economy

 

[Wisdom01]

I think us created digital dollar to outshine the use of crypto, but creating their own digitalize dollar dosent mean it can surpass the use of other crypto

 

[Balint098]

I think us created digital dollar to outshine the use of crypto

It's impossible to outshine crypto since this digital dollar will be most likely be backed up by US government and not decentralized like other cryptocurrencies.

 

[Wisdom01]

It's impossible to outshine crypto since this digital dollar will be most likely be backed up by US government and not decentralized like other cryptocurrencies.

Sure is usdt (digital coin) created by the us,because the coin is stable and not fluctuating like other type of crypto , have seen the coin several times on binance

 

[ElSombrero]

Hmm, difficult question. To be honest, I would like to use stables like usdt, eurg and more

 

[Balint098]

One huge drawback crypto in general has is the fluctuating price. And it's very hard to stabilize it. Heck, I'm not even sure if it can be stabilized, considering there's no central regulator that can control its price.

 

[Balint098]

If USA creates a digital US dollar, I think that will be a threat to crypto currency because us dollar is one of the most powerful fiat currency in the world but stabilizing the price will definitely be an issue.

Nah, it won't be a threat to crypto since dititized USD is centralized and monitored by government, unlike the very nature of crypto, which are decentralized and unregulated.

 

[Wisdom01]

but stabilizing the price will definitely be an issue.

USA have created their own digitalized dollar (usdt),and its stable and easily convertible to cash unlike bitcoin which isn't stable but is easily convertible to cash

 

[Roysnickz]

Personally I will see that as a welcome development. I learnt Japan is on the verge of achieving a similar feet. Digitalize currency is the way to go.