Beware of this scam coin which is currently doing the rounds.
Known varyingly as the U.S. dollar, the American dollar or just the dollar, it has acquired the ticker USD. USD boasts an impressive network effect and has made real inroads in to both the payments and the trading markets. It also has attracted some high profile advocates from Presidents to business leaders.
To be fair, on the surface USD seems to have a lot going for it. Aside from its popularity (most people in the world have heard of, if not at some point owned, USD) it boasts an entirely off chain and fungible payments system based completely on printed bits of paper! These factors have led to USD becoming widely viewed as both a sound store of value and medium of exchange.
Sound too good to be true? I thought so to. So I did a little digging.
Superficially, the online payments system for USD seems pretty slick. It is utilised by some of the most widely accepted payment processers around, like MasterCard and Visa. From the consumer side it is a hassle free tap-and-go experience. But there is a hidden cost to this. Unlike regular currencies such as Bitcoin, the fees for USD via Visa are entirely merchant side. Fees for small payments can be in the region of 0.001-0.002 BCH. So while cheaper than BTC or ETH, it’s still higher than BCH, DASH or LTC. This can be a real problem for small merchants and can eat in to their already low profit margins.
It gets worse.
What the team behind USD don’t advertise is that it has neither a hard cap nor a steady emission rate. Basically, they can just mint as much or it as they like, whenever they like, and they do. This has led to currency inflation and an increasing drop in the buying power of the dollar.
Source: https://en.wikipedia.org/wiki/United_States_dollar
Worse still, by far the bulk of this new money went to the core development team and their partners (https://projects.propublica.org/bailout/list). It is of course ordinary users and small holders who are ultimately left to foot the bill for all this money printing.
…and here’s where it get really bad…
The USD has become the de facto currency for organised crime. I am not just talking about victimless black markets, but red markets too. In fact, the team behind USD have themselves been linked to corruption, attempted political coups and even full scale wars of aggression https://www.globalresearch.ca/why-america-needs-war/5328631
The verdict?
SCAM ALERT! USD is not to be trusted. Get out of this obvious and immoral scam while you can.
thanks for information