- Joined
- Jan 16, 2014
- Messages
- 7,282
- Points
- 113
fully backed? then why need to have XSGD?
-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Sure 1000% Huat Kah Liao…Singapore launches its first Stablecoin , samsters dun miss the Mega Huat Big Big Boat de woh
- Thread starter k1976
- Start date
- Joined
- Feb 15, 2025
- Messages
- 209
- Points
- 28
For transparency.
The main difference between traditional and digital transactions is that the former can take days or even weeks to process, often with higher fees, whereas the latter is instantaneous and typically incurs minimal or zero transaction costs.
- Joined
- Sep 22, 2008
- Messages
- 88,220
- Points
- 113
Different ftom Alipay?
Alipay still uses fiat currency and not stablecoin or cryptocurrency
- Joined
- Aug 6, 2008
- Messages
- 17,105
- Points
- 113
Nil
Last edited:
- Joined
- Jan 23, 2022
- Messages
- 2,273
- Points
- 83
Investments are the personal use of one's hard earned savings, thus may everyone perform CRITICAL ANALYSIS before any action taking on purchasing or rejecting cryptocurrencies, and not rely on the PERSONAL VIEWS of one person alone, such as from the insignificant nobody me....
A) The S$ingdollar is pegged by a basket of international currencies used, our GDP, revenues, reserves and confidence in our often boring but pragmatic stable political policies.
B) $Stablecoin is backed by the S$ingdollar 1:1.
C) However, as cryptocurrencies are often subjected to the vagaries of speculation, which anyone, from locals to foreigners, can SPECULATE on, and thus there will be differentiations between actual S$dollar and $Stablecoin from time to time.
D) Although $Stablecoin is on a value of 1:1, the amount that one has in the coin will be based up the MARKET VALUE of the coin at the time of exchange, where-else the S$ingdollar exchange rate will be based upon INTERNATIONAL FOREX EXCHANGE MARKETS DAILY.
A) The S$ingdollar is pegged by a basket of international currencies used, our GDP, revenues, reserves and confidence in our often boring but pragmatic stable political policies.
B) $Stablecoin is backed by the S$ingdollar 1:1.
C) However, as cryptocurrencies are often subjected to the vagaries of speculation, which anyone, from locals to foreigners, can SPECULATE on, and thus there will be differentiations between actual S$dollar and $Stablecoin from time to time.
D) Although $Stablecoin is on a value of 1:1, the amount that one has in the coin will be based up the MARKET VALUE of the coin at the time of exchange, where-else the S$ingdollar exchange rate will be based upon INTERNATIONAL FOREX EXCHANGE MARKETS DAILY.
The authority has the final say in determining which currency to be used, whether it's a fiat currency, a cryptocurrency, or a combination of both, regardless of local sinkies considerations regarding stability, privacy or security of the $$$.
The authority has long sought to maintain control over the flow of dollars from users, effectively dictating how and when individuals can access, manage, and utilize their funds. This level of control can significantly impact illegal use for washing money
Last edited:
- Joined
- Jan 23, 2022
- Messages
- 2,273
- Points
- 83
Just to add to the insignificant nobody me earlier post on SPECULATION on one's own hard earn life savings, which I had not done so in detail as I always did even if no one reads it....
A)Example of how SPECULATIVE cryptocurrencies can be:-
i) I bought 1000 stablecoins at a $1 for each coin at 3am on 30th Sept 2025.
ii)By 3pm 30th Sep 2025, the total amount of stablecoins available, based upon reserves held by banks and companies financing such a project which amounts to for example 300 Million coins, HAD BEEN SOLD OUT.
iii) By 3.10pm 30th Sep 2025, there were still BUYERS - to the amount of 1 Billion whom were either confident of Singapore's financial and political policies or just intuitive to the smell of money, are willing to offer $2 for each coin.
iv) By 3.15pm, thru speed of light FINTECH exchanges, millions of stablecoins were sold at $2 each.
v) By 5pm, the stock market closes, but the price of stablecoins had risen to $5 each.
Thus, at 4.59pm, should I had sold off my 1000 stablecoins, I would be $5000 richer.
Sadly, no Human would do what I would had done, but instead, hang on, as there are still Hundreds of Million buyers out there awaiting for our stablecoins.... without realizing the realities that the market CAN and WILL MOVE Opposite ways.......as there is NO algorithms that can predict Human behavior successfully each and every time.......
A)Example of how SPECULATIVE cryptocurrencies can be:-
i) I bought 1000 stablecoins at a $1 for each coin at 3am on 30th Sept 2025.
ii)By 3pm 30th Sep 2025, the total amount of stablecoins available, based upon reserves held by banks and companies financing such a project which amounts to for example 300 Million coins, HAD BEEN SOLD OUT.
iii) By 3.10pm 30th Sep 2025, there were still BUYERS - to the amount of 1 Billion whom were either confident of Singapore's financial and political policies or just intuitive to the smell of money, are willing to offer $2 for each coin.
iv) By 3.15pm, thru speed of light FINTECH exchanges, millions of stablecoins were sold at $2 each.
v) By 5pm, the stock market closes, but the price of stablecoins had risen to $5 each.
Thus, at 4.59pm, should I had sold off my 1000 stablecoins, I would be $5000 richer.
Sadly, no Human would do what I would had done, but instead, hang on, as there are still Hundreds of Million buyers out there awaiting for our stablecoins.... without realizing the realities that the market CAN and WILL MOVE Opposite ways.......as there is NO algorithms that can predict Human behavior successfully each and every time.......
- Joined
- Sep 2, 2023
- Messages
- 4,803
- Points
- 113
Cashless system copycat China
Understanding your situation, consider the recent incident on Sept 22, involving Bitcoin, which was manipulated for approximately 3 minutes, resulting in the loss of around of approximately few hundred of million dollars in 400K user accounts. This was orchestrated by a large-scale 'whale', who had the backing of some of the largest banks. These institutions have access to advanced tools and AI analysis, which they used to identify the optimal time to execute their short-selling strategy, exacerbating the situation for panicked sellers.
Similar incidents have also occurred in the foreign exchange market (forex), with numerous past examples available upon conducting a search online.
Similar incidents have also occurred in the foreign exchange market (forex), with numerous past examples available upon conducting a search online.
Last edited:
ApeX Protocol's recent study ranked countries based on their engagement with cryptocurrency, Singapore with a perfect 100 score and crypto ownership at 24.4% , and United Arab Emirates (UAE) emerging as the global leaders beating the US.
Individuals who invested in cryptocurrency early on have experienced substantial financial gains.
Individuals who invested in cryptocurrency early on have experienced substantial financial gains.
In Singapore, two prominent cryptocurrency conferences took place concurrently: TOKEN2049 and the Stablecoin Summit 2025. Notably, the OKX Alpha Summit Singapore, which focused on the development of Stablecoin 2.0 and CeDeFi, was held on October 1, 2025. This event took place during the TOKEN2049 Singapore conference, which spanned from October 1-2, 2025.
- Joined
- Jan 23, 2022
- Messages
- 2,273
- Points
- 83
XSGD = the name and term for Singapore's version of Stablecoin.
Last updated October 2. 2025 at 8.27pm. Link:- https://www.kraken.com/prices/xsgd
USD$0.78 = SGD$1.00
DO seek a professional and qualified investment banker for consultation before offering your hard earned life savings for investment as all investments comes with risks...
Last edited:
- Joined
- Jan 23, 2022
- Messages
- 2,273
- Points
- 83
Ultimately, the purpose of XSGD stablecoins is due to many whom uses online transactions, to purchase goods from ALL over the World, without the hassle and need for International FOREX exchanges and its fluctuating fees to be involved.
A) Bitcoin started the CASHLESS REVOLUTION, but unfortunately followed by many, many and some are outright scams for so called online DIGITAL wallets, and such currencies, are backed by NOTHING....which SPECULATORS with DEEP pockets will be laughing all the way to banks, rolex watches, homes on the Rivera, Ferraris, etc, as they manipulate the markets by their wealth....
i) HOWEVER, the only good thing about Bitcoin and Stablecoin is the promise of the BlockChain method, whereby EVERY transaction of a coin or even 0.0001% of that coin is RECORDED by Blockchain miners and their rewards are gifts of Bitcoins or such in manner.
Criminals, terrorists, drug dealers, etc are morons as they thought that Digital currencies leave no trace, so as to hide their funding sources, as there is NO outright handing over of funds or thru banks.
Unfortunately for them and fortunately for Humankind, EVERY movement of Digital currencies LEAVES A TRACE, - as each online transactions leaves a signature - IP addresses, even if VPN as they too know where signal ORIGINATES from and WILL have to reveal to authorities under Court Orders. Even if a FRADULENT purchase had been made,
Blockchain methods WILL STILL be able to track from which bank account that the digital currency had been used, and so much more, so much that others are unaware of.....
B) For speculators, of course there will be profits to be made on the daily Forex and coin markets, just on the movements, the more money one speculates on, the more the profits, but do bear in mind, there are those whom have MILLIONS more to throw into such markets, to gain for their own personal goals.....
C) Ultimately, it is about STABILITY and ease / progress of trade methods that Singapore seeks, with the introduction of XSGD Stablecoins backed at least by banks assets rather than nothing like other digital currencies.
Each citizen STILL have the freedom to use fiat currencies - real dollars and coins for daily life which are BACKED by our GDP, our revenues, our stable political and social policies, and more....
A) Bitcoin started the CASHLESS REVOLUTION, but unfortunately followed by many, many and some are outright scams for so called online DIGITAL wallets, and such currencies, are backed by NOTHING....which SPECULATORS with DEEP pockets will be laughing all the way to banks, rolex watches, homes on the Rivera, Ferraris, etc, as they manipulate the markets by their wealth....
i) HOWEVER, the only good thing about Bitcoin and Stablecoin is the promise of the BlockChain method, whereby EVERY transaction of a coin or even 0.0001% of that coin is RECORDED by Blockchain miners and their rewards are gifts of Bitcoins or such in manner.
Criminals, terrorists, drug dealers, etc are morons as they thought that Digital currencies leave no trace, so as to hide their funding sources, as there is NO outright handing over of funds or thru banks.
Unfortunately for them and fortunately for Humankind, EVERY movement of Digital currencies LEAVES A TRACE, - as each online transactions leaves a signature - IP addresses, even if VPN as they too know where signal ORIGINATES from and WILL have to reveal to authorities under Court Orders. Even if a FRADULENT purchase had been made,
Blockchain methods WILL STILL be able to track from which bank account that the digital currency had been used, and so much more, so much that others are unaware of.....
B) For speculators, of course there will be profits to be made on the daily Forex and coin markets, just on the movements, the more money one speculates on, the more the profits, but do bear in mind, there are those whom have MILLIONS more to throw into such markets, to gain for their own personal goals.....
C) Ultimately, it is about STABILITY and ease / progress of trade methods that Singapore seeks, with the introduction of XSGD Stablecoins backed at least by banks assets rather than nothing like other digital currencies.
Each citizen STILL have the freedom to use fiat currencies - real dollars and coins for daily life which are BACKED by our GDP, our revenues, our stable political and social policies, and more....
Last edited:
- Joined
- Apr 26, 2011
- Messages
- 12,945
- Points
- 113
- Joined
- Jul 10, 2008
- Messages
- 35,975
- Points
- 113
The stablecoin sector is trying to establish itself as a store of value in the digital fiat economy.
- Joined
- Jul 19, 2011
- Messages
- 28,200
- Points
- 113
There will be so many stablecoin soon. Which one will you buy?
- Joined
- Jan 23, 2022
- Messages
- 2,273
- Points
- 83
1. Profits are often only a matter of perception. Basically, one gets a windfall thru a choice made, or had saved substantial funds from an undertaking which would had cost more.
2.XSGD is back by banks with REAL assets and based upon the performance of the S$ dollar on its GDP, economic and political stability, which is about confidence and trust, such gives rise to the value of both S$ and XSGD. Such takes time, and will see the rise of XSGD in months if not years. Thus holding on to the coin for long term will one realizes profits.
For each Stablecoin/XSGD issued, there is a S$1 value in real bank reserved assets, the meaning of 1:1 ratio. Unlike Bitcoin, which is backed by nothing.
Should anyone who has doubts or empirical evidences and facts on where Singapore is heading, one can quickly sell the coin at its current MARKET VALUE. For 1000 coins bought at S$1 each, should it goes down to 10cts, one would still be able to sell it to the participating bank to get S$100 back, to buy a couple of beers to drown in one's misery.
However, with bitcoin when it falls to 10cts per coin, nobody will buy it or press the price even further to 1cts, or else one will be stuck with such coins as such cannot be even be eaten or buy a glass of water....
3.XSGD is meant for online purchases, as such digital coin can move at the speed of light without the usual encumbrances of banking red tape delays, or the high transaction fees for conversion of different currencies. While a USD$10 purchase will not cost much in such transaction fees, for traders and merchants whom buys in BULK will save hundreds of thousand dollars and time per transaction made using Stablecoins than thru the usual banking system.
4. When the confidence and trust in Singapore's economic and political system rises, eventually, the S$ and XSGD rises along, thus it is the Purchasing Power of such monetary system in trade benefits compared to other poor performing nations and their currencies.
5. If one is looking for GET RICH QUICK SCHEMES with XSGD, then such does not exists.
One can still venture into the Forex Market where such coins are traded, HOWEVER, if one has limited knowledge of Forex Market trading, perhaps due to focus on other issues such as career in other fields, or family, etc, thru lack to time, then it would be better to gain such information thru consultation and training from professional and qualified bankers then trying out on one's own.
Forex Market is not about looking out at indicators such as candle sticks, or crocodile's mouth, etc....there is much more to learn, and the best word for it is - gamble. Such are not investments. There is NO maths or algorithms that can predict shrewd Human Behavior....
The worst one must avoid is to NEVER, EVER reply to a scam call from Cambodia, with the person claiming to an ex-Director of Monetary Authority of Singapore, who will show you the ropes and guide you online thru a shared connected computer to show how to profit on XSGD. One will not only lose one's hard earned life savings, but even one's pants as one's account will be WIPED OUT, with no money left to buy a new pants to go to work.....
2.XSGD is back by banks with REAL assets and based upon the performance of the S$ dollar on its GDP, economic and political stability, which is about confidence and trust, such gives rise to the value of both S$ and XSGD. Such takes time, and will see the rise of XSGD in months if not years. Thus holding on to the coin for long term will one realizes profits.
For each Stablecoin/XSGD issued, there is a S$1 value in real bank reserved assets, the meaning of 1:1 ratio. Unlike Bitcoin, which is backed by nothing.
Should anyone who has doubts or empirical evidences and facts on where Singapore is heading, one can quickly sell the coin at its current MARKET VALUE. For 1000 coins bought at S$1 each, should it goes down to 10cts, one would still be able to sell it to the participating bank to get S$100 back, to buy a couple of beers to drown in one's misery.
However, with bitcoin when it falls to 10cts per coin, nobody will buy it or press the price even further to 1cts, or else one will be stuck with such coins as such cannot be even be eaten or buy a glass of water....
3.XSGD is meant for online purchases, as such digital coin can move at the speed of light without the usual encumbrances of banking red tape delays, or the high transaction fees for conversion of different currencies. While a USD$10 purchase will not cost much in such transaction fees, for traders and merchants whom buys in BULK will save hundreds of thousand dollars and time per transaction made using Stablecoins than thru the usual banking system.
4. When the confidence and trust in Singapore's economic and political system rises, eventually, the S$ and XSGD rises along, thus it is the Purchasing Power of such monetary system in trade benefits compared to other poor performing nations and their currencies.
5. If one is looking for GET RICH QUICK SCHEMES with XSGD, then such does not exists.
One can still venture into the Forex Market where such coins are traded, HOWEVER, if one has limited knowledge of Forex Market trading, perhaps due to focus on other issues such as career in other fields, or family, etc, thru lack to time, then it would be better to gain such information thru consultation and training from professional and qualified bankers then trying out on one's own.
Forex Market is not about looking out at indicators such as candle sticks, or crocodile's mouth, etc....there is much more to learn, and the best word for it is - gamble. Such are not investments. There is NO maths or algorithms that can predict shrewd Human Behavior....
The worst one must avoid is to NEVER, EVER reply to a scam call from Cambodia, with the person claiming to an ex-Director of Monetary Authority of Singapore, who will show you the ropes and guide you online thru a shared connected computer to show how to profit on XSGD. One will not only lose one's hard earned life savings, but even one's pants as one's account will be WIPED OUT, with no money left to buy a new pants to go to work.....
Similar threads
