Europe wants to turn Digital Euro (CBDC) into a stablecoin

https://antongolub.substack.com/p/europe-wants-to-turn-digital-euro

by AvG_DXB • 10 months ago

19 23 10 months ago

antongolub.substack.com

NoahZuniga• 10 months ago

The digital euro is just so bad

robertlagrant• 10 months ago

Why? I've never heard of it.

HelloUsername• 10 months ago

Pretty good video explaining it: https://m.youtube.com/watch?v=CzkVBXDhTwY

ranguna• 10 months ago

Care to elaborate why?

I used to think they'd use this to track citizens, but it seems like that's not the case at all, we'll even have offline transfers.

wolvesechoes2• 10 months ago

It is necessary if EU wants to stop relying on US payment companies.

ebalit• 10 months ago

It seems like wero [0] is making some progress on this front without relying digital euro or on crypto.

0: https://en.wikipedia.org/wiki/Wero_(payment)

pjc502• 10 months ago

Why does Europe want a stablecoin when it has PDS2 and near-instant clearing?

AvG_DXB5• 10 months ago

Exactly, you don't really need stablecoins (or digital Euro=CBDC) because you have SEPA in EU

marcosdumay• 10 months ago

The goal of money is to be used for trade. All of the examples on the article are failures, and the market cap is at best useless information.

The EU at least had a honest attempt of making money, instead of a ponzi scheme.

wolvesechoes2• 10 months ago

The goal of money is to be used for trade.

Actually, to quantify debt.

AvG_DXB5• 10 months ago

Nobody is using stablecoins for trade, especially not in Europe. Stablecoins are used by world's largest traders to rebalance liquidity between trading venues - that's 99% of all stablecoin transfers

latexr• 10 months ago

What confusing writing.

Every sentence is a paragraph.

And look like disconnected ideas.

Like bullet points without bullets.

Exhausting to read.

Looks like memes written by LLMs.

Why do cryptocurrency-focused people tend to write like this?

add-sub-mul-div• 10 months ago

Cryptocurrency is the intersection of tech bros who think they know more than everyone else and finance bros who think they deserve more than everyone else. In this era of tech the bigger the opportunity, the worse the people who flock to it.

euroderf• 10 months ago

the bigger the opportunity, the worse the people who flock to it.

Isn't that the case almost everywhere ? I mean, look at the people that go into politics when there's little-to-no control of corruption.

AvG_DXB5• 10 months ago

not at all, crypto crowd is very nice & humble on average

M95D• 10 months ago

And acronyms everywhere.

AvG_DXB5• 10 months ago

It's quite straighforward, not sure what's confusing you

JumpCrisscross3• 10 months ago

I recently got pitched stablecoins as a way to lower government borrowing costs. I’m sort of on board with this.

If I am investing $1mm of my own money, I care about the yield. If I’m investing $1mm of someone else’s money, and I don’t need to pay them a return, I mostly care about never losing it. This creates price-insensitive demand for safe assets. If you require those safe assets be government bonds, you’ve created pools of price-insensitive demand for your government’s debt.

Put another way, we’re financing our deficits with crypto bros. Compared with taxation, that seems like a win-win.

ab5tract• 10 months ago

How is it “instead of”?

JumpCrisscross3• 10 months ago

You’re quoting a phrase that never appears. That’s confusing.

pjc502• 10 months ago

As with so many bits of crypto, I have to ask: who's taking the other side of this trade? Who wants their money held with no yield when they could have yield?

JumpCrisscross3• 10 months ago

who's taking the other side of this trade? Who wants their money held with no yield when they could have yield?

Dumb money, criminals, folks selling to the foregoing and a narrow slice of the technically curious.

AvG_DXB5• 10 months ago

That's an accurate description what's happening. New administration gets that, hence they're pro crypto & stablecoins

Europe wants to turn Digital Euro (CBDC) into a stablecoin

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