Millions of Crypto Investors Got Duped Into Buying US Debt 😱
You're probably one of them! Even Polycub got indirectly involved! At a point I was one of these unsuspecting victims too 😵 1st of all funds are SAFU 💸👍 This deep dive is more about open conspiracies for financial domination of US & USD. It all starts with stablecoins!
Why Would Anyone Do This!
I used to wonder why companies would sink so much resources to making and maintaining stablecoins. Bitshares had over-collateralized bitUSD, bitEUR, bitCNY, bitGold etc. Ethereum has DAI. These solve a real problem. They are maintained with smart contracts. It's kind of like its own Dapp.
Centralized stablecoins like USDT & USDC aren't like this. I thought they'd be making ton on Tx fees. That doesn't seem to be the case either. But there's so much competition in this space! So where's the money???
You Were Buying US Debt All Along
Imagine you had $100 million. What if you buy bonds with it and make $6 million on it?
BOOORING!!!
That's not even a good ROI. What if you instead use that $100 million to convince millions of people to buy $40 billion in bonds and in return... you give them nothing! That's right - NOTHING! That'll be $2,400,000,000 in free money to you! Calculate ROI on that!
It's like giving $1 and getting back $24 at later date. What the hell if you loose few more extra dollars more. You'd still be up by several times! It's all because crypto traders needed to track prices against USD!
Yeah! Even FUD about USDT is dying down because they are buying more US debt. It's good to have funds to redeem when customer return USDT to get fiat. But think of all things funded by US debt. Do you want to fund those things?
Few More Alarming Trends With Governments & CeFi
Even DAI Is Partially Backed By US Debt!
DAI us supposed to be a "decentralized" stablecoin. But assets backing it are not so decentralized. Only fraction of it is backed by real decentralized assets like ETH. https://daistats.com has all the info you need.
BUSD Is 4% Treasury Bills
My source is CNBC. I'm not leaving backlinks to them. Search on your own if you want. At least it's the best centralized stablecoin so far.
Polycub Kingdoms
Polycub Farms
CUB Kingdoms
CUB Farms
HBD: Best Refuge I Know
bitUSD is cool. I like Market Pegged Asset (MPA) they've made. Link is for the docs. Current poblem is availability. HBD is on
- Hive
- Hive-Engine
- Polygon
- BNB Chain
We'd have more EVM chains like AVAX, FTM, Evmos (hopefully) Soon™
We need decentralized stablecoin backed by decentralized assets with huge availability across blockchains. Other good decentralized stablecoins aren't doing well in availability so far. Correct me if I'm wrong on that.
What Can You Do?
- Don't use US debt backed stablecoins
- Avoid centralized stablecoins in general
- At least minimize their use if total exit is unavoidable
- Preach against USDC, USDT etc.
- Get more folks to use HBD, bitUSD etc.
- Redeem centralized stablecoins to reduce their supply!
Reducing supply is very important! Lower supply = lower impact on crypto market. Low supply means these companies will hold less US debt or any government/corporate debt. That's a win!
What Can CUB - Polycub Do?
More pools from centralized stablecoin to decentralized stablecoin can be good. That makes switching easier for investors. It's more liquidity for decentralized stablecoins.
- More pairs with HBD
- More APR for HBD pairs not coupled with centralized stablecoins
- Minimize future inclusion of centralized stablecoin pairs
- Have a link on website to educate users on stablecoins
Knowledge = Power
Now you know more about how USDC, USDT, BUSD, DAI. They are helping to fund all kinds of dubious activities of US government. Do you want that? If you do... that's cool. You're just an investor among many others who buy US debt.
Many crypto investors want to move away from banking cartel. They want freedom. Using centralized stablecoin will work against that goal.
Spread This Knowledge!
I don't care what people do with this info. I want them to know about this. I was glad I manage to dig enough to find all this. If you guys can help share this as much as possible it'll help lot more people make better INFORMED decisions.
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Interesting point and take.
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Thanks!
Watch the videos If you don't have time watch 1st one. There's lots of fine details in them.
I'm already out of all centralized stablecoins. I only have HBD and DEC. I'm gonna try and keep things that way. Other decentralized stablecoins might get added. Time will tell ⏳
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Thank you very much for posting this. Far more people need to be aware of it, that is for sure! 🙏 💚
Wow! So they're more or less dumping the US debt on crypto? This is really serious....
Yep! Most of USDC & USDT is just US Debt. DAI despite being decentralized is mostly backed by US debt by proxy. BUSD is at least just keeping their USD in bank for the most part.
The consequences will be unheard of. DAI will soon be in trouble.
Let's hope people will realize it's a bad idea to support your crypto protocols with government debt!
The devil is most certainly in the details here. USDC and Circle's other products seem to be attemtping to be soft CBDCs controlled by a private entity that does bend the knee to governments. This is not something cryptocurrency investors should support. Unfortunately most people will not learn the lesson until some cataclysm happen such as Tornado Cash or UST.
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All fiat currency is debt-- USD, EUR, GBP, JPY, ad nauseam. Stablecoins backed by fiat currency are therefore backed by debt. Stablecoins backed by commodities such as precious metals or oil are less popular, but they are safer.
Where's the best place to buy bitUSD? I thought I was doing the right thing by purchasing BUSD first before using that to buy the cryptocurrencies I really wanted. I need to send my cash somewhere, so it may as well be with a decentralized stablecoin.
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