Posted on 08/26/2025 12:37:20 PM PDT by EnderWiggin1970
Imagine if some of us still drove horse-drawn carriages for our daily commutes while others zoomed around in the newest-model cars. That is the gap — in terms of speed, technical innovation and consumer benefit — between how we use money today and what stablecoins promise.
Recent analysis suggests that many Americans still have no idea what stablecoins are. But now that Congress has passed the bipartisan GENIUS Act — the first federal framework for stablecoins — rapid adoption is likely. Understanding how these digital dollars work will be not just helpful but necessary.
Put simply, a stablecoin is a digital version of the dollar (or euro or yen) in your wallet. Easy, right? But because stablecoins are a type of cryptocurrency, built on advanced blockchain technology, some people still find them opaque. Separately, some might assume that stablecoins act like Bitcoin or comparable crypto tokens, which they do not.
A major difference between stablecoins and tokens is stability. Unlike digital assets such as Bitcoin or Ethereum, which can swing in price based on supply and demand, stablecoins are pegged one-to-one to real-world currency. That means one digital dollar is always worth one actual dollar (or a dollar equivalent, such as a Treasury).
This stability is, ironically, what makes stablecoins so potentially disruptive. Because they behave like traditional money but can be moved on a more flexible digital infrastructure that is faster, cheaper and always accessible, stablecoins offer an upgrade to how we send, store and use dollars. That’s exactly why some banks and policymakers are uneasy: Stablecoins don’t just fit into the existing financial system, they challenge parts of it.
But for anyone who uses money — which is to say, all of us — stablecoins could be a very good thing.
(Excerpt) Read more at thehill.com ...
Merchants won't have to worry about counterfeiting, forged checks, stolen credit cards, credit card fees, employees taking from the till and so on. While there will be concerns about self-custodying (no FDIC to save you if you lose your own password/seed), the avoidance of bank/credit card fees and 24/7 service offered by crypto backbones will more than offset them for most people. And once most people are accustomed to using stablecoins daily, the final shift to non-inflationary currency will be that much easier.
It is stupid... Plain stupid...
Yeah, I look forward to yet another way of denying me commerce and tracking my every move. Yes, if there is a way to track us they will.
Back to the 1870s. Will have a Walmart coin, a target coin, a Costco coin. And they are all wonderfully stable, because they’re pegged comically to the US dollar! You can’t make this crap up. Nothing good in this exists for regular guys. Just one more step on the path to a digital currency. The globalists got Trump to position America for another azz rape. BOHICA
I used to hate paying credit card fees as a merchant. Yes, I understand they need to make money too. But Stablecoins cuts those folks out of the market. If you have a smart phone, you can accept stabecoins. 4-6% doesn’t seem like much, but cutting that in half would have improved my bottom line by about $10k a year.
And the banks will integrate them to move money faster and cheaper than they do now.
Can the gov’t just come in and grab it because you burned a Pride Flag in your backyard?
Wow! Now we all get paid in stable coin dollars and nobody has to use the bank anymore! The bankers are stymied, mystified, it’s the end of the banking industry! Lol. Do I really need the sarcasm tag?
There will be a bunch of them at first. After a little while, the field will drop down.
And places like Walmart can tie discounts to them, so it will enhance everyone’s bottom line.
Just as the days of new cars in the 1890-1900 era, there were a bunch of manufacturers. Over time that whittled down to the core group we have today.
No, that is the Central Bank digital coin. This is a “coin” that is privately created by the “bank”. They need to have a 1:1 relationship between the dollar and the coins issued. They run on an independent blockchain. So, no…the government isn’t shutting these down.
Buy BTC.
This man is already dead. He just doesn’t know it yet.
Just sounds like using your debit card.
“No more waiting for “bankers hours” to move money or make a payment.”
That statement was made decades ago.
Since then I have been able to move money and make payments any hour of any day.
Adoption will only grow over time as the old farts die off. With stable coins and Bitcoin a financial system sans banks actually is possible. If that’s good or bad remains to be discovered but private money is certainly an intriguing idea
Yes. Except the debt card costs the vender a per transaction fee AND the network (MC/Visa) takes a bite. The consumer doesn’t always see it, but the vendor sure does.
Yes. Except the debt card costs the vender a per transaction fee AND the network (MC/Visa) takes a bite. The consumer doesn’t always see it, but the vendor sure does.
Stablecoins are an electronic representation of something which is already backed by nothing - fiat US dollars, Euros or Yen.
Social credit scores, here we come!
None of the articles I’ve read tell me HOW I’ll be able to use Stablecoin. With cash, it’s in my hand. With credit or debit cards, it’s tied to an account where I can see the transactions after the fact. This says something about ‘on your phone.’ Is it an App? Which I’ve avoided like the plague!
I still don’t understand.
And that GENIUS act should’ve included a death penalty for anyone who tries to track where dollars are spent, or try to limit when & where & on what they’re used. Otherwise, there aren’t many likely takers on our side of the aisle.
As a former banker, I half agree with you. I ran a 24/7 operation in our call center. We could “do transactions” 22 hours a day. They would be pending “posted” transactions.
I was stunned that we were still “batch processing” ACH transactions overnight. It’s been a few years, but that part hasn’t changed.
And as far as “banker hours”, that crap ended in the 1980’s most places. I WISH they had kept them.
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