I have found that grand announcements like these that aren't accompanied by "you can use this for starting today" are likely not going to amount to much.
Cloudflare Introduces NET Dollar
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Re: Cloudflare Introduces NET Dollar
#32I have found that grand announcements like these that aren't accompanied by "you can use this for starting today" are likely not going to amount to much.
Does Cloudflare have a history of bullshit announcements? (Serious question.)
Re: Cloudflare Introduces NET Dollar
#33Anyone know whether they already have approval of the current US executive administration? (Which might smooth the regulatory challenges.)
Re: Cloudflare Introduces NET Dollar
#34Is US dollar backed a good thing? At this point we should be backing things on gold, platinum. The Australian dollar has gone up about 20% vs the American dollar since Trump.
If you don't hold it as an investment it doesn't matter.
Re: Cloudflare Introduces NET Dollar
#35Re: Cloudflare Introduces NET Dollar
#36Make it stop
Re: Cloudflare Introduces NET Dollar
#37Is US dollar backed a good thing? At this point we should be backing things on gold, platinum. The Australian dollar has gone up about 20% vs the American dollar since Trump.
A basket of currencies and value stores seems like it would be the least volatile.
> basket of currencies and value stores seems like it would be the least volatile
For whom? The least volatile asset relative to dollars are dollars. The moment you start building a money-market fund you have novel risks, from credit to rates and FX. (And, in the extreme, legal.)
Re: Cloudflare Introduces NET Dollar
#38Earlier quoted context omitted.
Presumably because it's really super duper convenient for the single for-profit entity that possesses an outstanding majority of the minted coinage. Woohoo! I freaking love coinslop!
yay for coinslop! transparent usage of currency by robots... no way is it better than a bunch of rolled up swift transfers/wires..... coinslop not routed through the bankslop rail is still an improvement.
> no way is it better than a bunch of rolled up swift transfers/wires
I non-sarcastically agree.
What's wrong with same day ACH?
The risk of having the money be not in a FDIC bank makes this a nonstarter.
Re: Cloudflare Introduces NET Dollar
#39Is US dollar backed a good thing? At this point we should be backing things on gold, platinum. The Australian dollar has gone up about 20% vs the American dollar since Trump.
> Australian dollar has gone up about 20% vs the American dollar since Trump
Which makes it garbage for transacting if you’re paid in or pay with any other currency.
Modern currencies split their store of value and medium of exchange components. Stablecoins (and credit cards and checking accounts) seize on the latter. Bitcoins (and Treasuries and money-market funds) the former.
Re: Cloudflare Introduces NET Dollar
#40Anyone know whether they already have approval of the current US executive administration? (Which might smooth the regulatory challenges.)
> Anyone know whether they already have approval
No indication they have.
“Stablecoins could be issued by banks and credit unions (through subsidiaries) or nonbanks. Nonbanks would be restricted to financial firms unless the Treasury Secretary and chairs of the Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC)—referred to as the Stablecoin Certification Review Committee (SCRC)—unanimously find they do not pose risks to the banking or financial system and will comply with certain requirements.”