from Hacker News

Could the US Dollar Be Crypto's Killer App?

by benmdi on 4/14/20, 10:17 AM with 32 comments

• by 0x8BADF00D on 4/14/20, 3:06 PM

  The killer app was supposed to be DAOs, ICOs, and decentralized finance/web 3.0. Instead we got another asset bubble. This is why we can’t have nice things.

• by luxuryballs on 4/14/20, 3:02 PM

  Increasing the number of people using the dollar is at least a clear goal considering how often we inject it into countries and governments around the world. In 2020 you don’t conquer with guns, you conquer by economic dependence.

• by coinward on 4/14/20, 2:27 PM

  Arent stable coins just an appeal to central banks expansionary policy? Bitcoin was created as an alternative set of values and seems like cryptos killer app to me

• by solotronics on 4/14/20, 2:25 PM

  I have been wondering why the US doesn't make a trial crypto dollar. If it doesn't work out what is the cost? Relatively nothing. If it does work out? it would strengthen the USD position as the global settlements layer and give the US control over a new monetary domain.

  For examples of this see LIBOR/"Eurodollar"

• by SideburnsOfDoom on 4/14/20, 2:22 PM

  At guess, "No"

  https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headline...

  after reading the article ... still "No".

• by tw04 on 4/14/20, 2:15 PM

  No, it couldn't. Unless the rest of the western world is ready to roll the dice on whether China and Russia want to expand their empires - they aren't moving away from the dollar.

  I have no doubt after the Trump administration they are all taking a long, hard look at building up their military power to be self-sufficient, but those timelines are measured in decades, not months. Anyone who thinks that moving away from the dollar is a simple matter of currency is naive, delusional, or both.