(September 30, 2018)
“This is the Fedcoin”
Goldman Sachs startup Circle, the Boston-based crypto finance company, has gone live with its stablecoin called the US Dollar Coin, or USDC.
This is the first cryptocurrency released by a major financial institution.
In order to avoid instability and inflation inherent to other unregulated cryptocurrencies, the value of the USDC will be tied to the dollar, according to CNBC.
“It unlocks an incredible amount of power for the dollar,” said Jeremy Allaire, CEO of Circle. “It’s basically a dollar that operates on the (Ethereum) blockchain.”
“Ethereum is the best bet but it’s not necessarily the end game,” he said. “For now it’s specifically on Ethereum.”
The USDC will be regulated as a registered Money Services Business under U.S. money transmission laws, and as a virtual currency, it will be regulated under its New York BitLicense. Furthermore, the company said it will hold deposits on a 1:1 basis in accounts that would be audited on a monthly basis. Each entity that wishes to enroll and issue USDC is held to the same regulatory-compliant standards.
Circle has said that the USDC will initially be available on its native trading platforms like the Circle Trade and Circle’s Poloniex exchange, and later available on other platforms like KuCoin, OKCoin, CoinEx, and others.
6 thought on “Goldman Sachs Launches ‘US Coin’ Cryptocurrency”
Goldman Sachs, den of vipers. They were the ones that built a somewhat mysterious headquarters on Wall Street and received 115 million in tax breaks as if they need it. It took four years to build the 44 floor structure. that cost 2 billion. They had a couple of major accidents during construction. There was a bizarre crane accident that dropped 7 tons crushing contraction trailers and crippling an architect inside. In another crane accident they dropped a piece of steel onto a baseball field that was being used by kids. They have an interesting set of rules posted outside. /Users/davidkraft/Desktop/rxg4q9jejxe11.jpg
This sounds really good for our country. This will stabilize our economy and bring many good jobs with fine living wage, and the sovereignty of our country will be made stronger and much more secure with each new FedCoin released. And then we have that paragon of highest financial banking ethics in the wonderful Goldman Sachs company. These financial giants of our banking and industry and our Federal Reserve bank, though are deeply connected to international banking and finance interests, and though the prime financiers of world wars that they incite, and though primarily concerned with building up the military industrial complex and the entanglement of our government with foreign interests, are really very nice people with the highest values of concern for the welfare of all U S citizens and the sovereignty of our great nation.
This is not about greedy international money worshippers wanting to more quickly establish a one world death and slavery system for all.
You are apparently being facetious. Of course, the central banks will never fully convert their money printing prowess to blockchain technology as such tech would, if properly executed, provide a public ledger through which the peons can easily see exactly how little such a “coin” is worth.
Yes, I was being facetious and I tried to be transparent about that by putting ‘Not’ at the end.
It is becoming increasingly difficult for the “little guy” participant in these crypto-currencies because the Exchange entities are now reporting cash-in transactions to the IRS taxing entity so the advantage of avoiding taxes only works, most likely, for the “big guys”. The big guys mainly want to use their large crypto holdings to manipulate the market or other markets and to take larger and stronger control of the entire world economy.
“Crypto-currencies” are “… nothing but a scam for people to get their surplus taken, and then if you want to try to get out you gotta wait, you gotta pay fees. It’s not exactly utilitarian. It’s just a big old scam by these somewhat cult leaders.”
7 minute 22 second video
Here are the negative uses of the “wonderful” blockchain. And to my way of thinking, you can take this at face value and see the efficient fraudulent uses of the blockchain, and more importantly, you can look more deeply and see how Deep State USA intelligence operatives can use this whole scheme to SET UP a U S presidential election, and U S president elect as the preliminary step to play out what we the people have been subjected to for the last twenty months. Aside from those grim facts is the reality that the regular operations of U S intelligence has been using the exact kinds of foreign elections sabotage techniques over many many years.
here is an interview of E. Michael Jones wherein he makes some good comments about the basic nature of these “currencies” that are not currencies at all.
https://www.youtube.com/watch?v=t_Z3_WyPIe4 interview was in January of 2018
21:31 to 24:29
This recording was in January of 2018 pm TradCatKnight YouTube Channel
“Coinbase is owned by DCG, an investment arm of the Federal Reserve. They are the Federal Reserve. “…
Frankly many of the sociopolitical critiques I’ve seen concerning blockchain & cryptocurrencies are waged by Individuals with somewhat dim and archaic understandings of the technologies themselves and their use cases. There’s actually nothing to fear of a “distributed ledger” equally shared on thousands of computers across the internet, which is in essence what bitcoin and its successors are.
As with any tech, these can be deployed and crafted for good or ill. The FedCoin may in fact be an example of the latter depending on how its rolled out, and since it’s being administered by a major investment bank, Government Sachs. But it’s not the first “stable coin” either, only one that will likely be more widely adopted than its future peers.