RE: Can We Make HBD Better ?
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Honestly, despite all your reasons, I do think the USD is probably the most stable currency in the world... purely because it's used in almost all international trade. BRICS is the exception, obviously, but all the other countries combined still provide a ton of stability. Don't forget China devalued the Yuan in 2015. Totally open to changing this in 5-10 years if HBD is still around and things have changed dramatically, but if you want stability I think the USD is hard to beat.
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Thanks for your reply ! I agree that the USD appears to be the most stable fiat currency right now, and the Yuan has been subject to a lot of deliberate price manipulation.
But I believe we're getting really close to a tipping point for the US where the geopolitical and economic mess becomes impossible to hide and too big to unravel. Experience has shown me that when a currency goes south, it happens very, very fast.
So while I don't think we should necessarily drop the dollar as the HBD's peg, I think that at the very least we need a contingency for what to do if the dollar hyperinflates or drops too hard in value, and to me the ideal would be to have an additional supplementary stablecoin pegged to gold or something else relatively non-volatile.
Thanks!
I agree that it can all happen fast... I just have no concept of the 'when' - which to be fair to myself, no one does. It could be next year, it could be in 5 decades or 100 years, who knows?!? I don't personally believe we're near a tipping point - I imagine other currencies like the Pound, CAD and AUD would be underwater well before the USD will. When they start to fail then I'll start to get very worried.
I don't truly understand how a digital currency could be pegged to gold personally (who would we trust to physically hold the gold?) but I'd be open to a suite of cryptos to try and offer some stability.