Crypto New Media
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • People
No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • People
No Result
View All Result
Crypto New Media
No Result
View All Result
Home Bitcoin

Satoshi Nakamoto Dollar: A Stablecoin Dreamt to Soar on the Wings of Bitcoin

Butalik by Butalik
March 13, 2023
in Bitcoin, Blockchain, Market, People
Reading Time: 2 mins read
56 3
A A
0
191
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

In the midst of regulatory scrutiny, the cryptocurrency community continues to innovate and explore new horizons for stablecoins beyond the conventional peg to the US dollar. Arthur Hayes, co-founder and former CEO of BitMEX, has now proposed a revolutionary stablecoin concept that promises to shake off any reliance on the US dollar and instead take flight on the wings of Bitcoin.

Hayes envisions the Satoshi Nakamoto Dollar (NUSD), or NakaDollar, to be a stablecoin that is not tied to any traditional financial services or banks. Instead, it will rely on the power of derivatives exchanges featuring liquid inverse perpetual swaps of BTC against USD, and maintain its 1:1 peg to the US dollar through mathematical exchanges facilitated by the NakaDAO.

This proposed stablecoin will be built upon a foundation of short BTC positions and USD inverse perpetual swaps, making it independent of any fluctuations in the value of the US dollar. While the NakaDollar may not be decentralized, it aims to be free from any USD transactions that require the assistance of banks.

Hayes acknowledges that centralized crypto derivatives exchanges may be a potential weak spot for the NakaDollar solution, as decentralized exchanges lack liquidity in comparison. Nonetheless, he remains steadfast in his belief that the NUSD will be a game-changer in the world of stablecoins.

As regulatory pressure mounts, with even major players such as Paxos facing scrutiny, Hayes is not alone in his pursuit of USD-independent stablecoins. Binance CEO Changpeng Zhao has also predicted a shift towards stablecoins based on other fiat currencies, such as the euro, yen, or Singapore dollars.

The Satoshi Nakamoto Dollar, with its bold vision and reliance on the power of Bitcoin, could potentially lead the way for a new era of stablecoins, one that is not tethered to the traditional fiat currencies of the past. Like a phoenix rising from the ashes, the NakaDollar may just soar to new heights and revolutionize the world of stablecoins as we know it.

Tags: BitcoinCryptocurrencydollarInvestmentSatoshi Nakamotostablecoin
Share76Tweet48

Related Posts

Bitcoin: The Digital Gold Rush

The Curious Case of Euler Finance’s Hack: A Tale of Unverified Claims, Generous Thieves, and Uncooperative Allies

March 16, 2023
Bitcoin: The Digital Gold Rush

Bitcoin: The Digital Gold Rush

March 14, 2023
Blockchain Revolution: How Algorand’s Technology is Disrupting Traditional Banking Systems

Blockchain Revolution: How Algorand’s Technology is Disrupting Traditional Banking Systems

March 14, 2023

Ackman’s dire warning of a looming financial cataclysm, as Silicon Valley Bank sinks

March 12, 2023

Cathie Wood’s Cryptocurrency Conviction: A Metaphorical Journey Through Innovation and Perseverance

March 12, 2023
Bitcoin vs Gold: Why Bitcoin is Winning the Race for a Better Store of Value

Why USDC’s Depeg is not a Reason to Panic: An Analysis of Stability and Risks

March 12, 2023

Crypto Investors Flock to Silicon Valley Bank, But at What Cost?

March 11, 2023
NFTs will act as high-end property during boom cycles: Real Vision CEO

Bitcoin Bulls and Bears: Crypto’s Wild Ride through the Ages

March 11, 2023
Building Bridges and Unifying Web3: The Onus on dApps Developers in an Interchain Future

The Great Whale Trade: A Tale of Risky Cryptocurrency Trading

March 11, 2023

Crypto Industry Regulation in the US: A Pincer Movement Against Innovation

March 9, 2023
0 0 votes
Article Rating
Subscribe
Login
Notify of
guest
CommentLuv badgeShow more posts
guest
0 Comments
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest
schiff.

“Economist Peter Schiff’s dire warning of an impending financial crisis and the historical lessons we should heed”

February 24, 2023

Ackman’s dire warning of a looming financial cataclysm, as Silicon Valley Bank sinks

March 12, 2023

Cryptocurrency Goes Hollywood: Celebrities Embrace Digital Assets

February 25, 2023
Bitcoin vs Gold: Why Bitcoin is Winning the Race for a Better Store of Value

Biden’s Crypto Tax Proposal: A Historical Parallel to Roosevelt’s New Deal

March 11, 2023

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

3

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

3
schiff.

“Economist Peter Schiff’s dire warning of an impending financial crisis and the historical lessons we should heed”

3

US Commodities Regulator Beefs Up Bitcoin Futures Review

2
blockchain-firm-jvh-acquires-crypto-platform-nft-inspect

Staking Protocol EigenLayer Raises $50M Amid Crypto Winter

March 28, 2023

Polygon Partners With Salesforce for NFT-Based Loyalty Program

March 18, 2023
Bitcoin: The Digital Gold Rush

The Curious Case of Euler Finance’s Hack: A Tale of Unverified Claims, Generous Thieves, and Uncooperative Allies

March 16, 2023
Bitcoin: The Digital Gold Rush

Bitcoin: The Digital Gold Rush

March 14, 2023

Crypto New Media




We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.





Categories tes

  • Bitcoin
  • Blockchain
  • Business
  • Ethereum
  • Guide
  • Market
  • People
  • Regulation

Tags

Altcoin Andreas Antonopoulos Banks Bitcoin Bitcoin drops Bitcoin Wallet blockchain Cardano celebrities celebrity Coinbase Cointelegraph community crypto cryptocurrencies Cryptocurrency decentralized digital asset digital assets Elon Musk Ethereum Exchange financial gold ICO IMF Investment investors JP Morgan Lending Mark Cuban market Market Stories Massachusetts mining Mining Bitcoin money potential regulators risks social stablecoin transactions United States Vitalik Buterin



  • About
  • FAQ
  • Support Forum
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

wpDiscuz
0
0
Would love your thoughts, please comment.x
()
x
| Reply