The cryoti space is in need of a coin that will survive, despite all strives. Libra had only encountered the power at the helms of regulations, yet it cannot pull a string. The market would not have mind having Libra come on board, because it des not discriminate.
A lot of coins that were able to launch on a good note are making good success, without any witch, despite their different backgrounds.
Topic: Market is Not Ready for Libra - page 2. (Read 599 times)
Not a market that is not ready, but the subject. Most are still too idealistic to state that cryptocurrency must be absolutely decentralized. Why should it be so rigid if this is indeed a solution to give greater confidence to the general public? Precisely with its use which is closer to daily life, for example in social media, it will be easier to make cryptocurrency acceptable to the general public.
It looks like Libra is in big trouble after a few weeks their partners have resigned a lot and maybe this is caused by many world politicians who really don't support the launch of coin Libra by Facebook, I think Libra is not a good investment because it is which is more dominantly stable than other cryptocurrency, after all Libra is projected as one of the payments instruments that will use in various socials media applications and of course this is strictly prohibited by some countries that indeed apply regulations about not allowing cryptocurrency to be used as a means of payment so that later it can result a country's official currency will plummet.
Original Post: https://bitflate.org/post/2019/10/25/market-is-not-ready-for-libra.html
Facebook CEO, Mark Zuckerberg, recently appeared in front of the United States Congress for a hearing about Libra cryptocurrency. The hearing lacked substance. Most congress members did not inquire deeply about Libra. They instead delved into smearing Facebook and its credibility. Both sides point fingers at each other. Crypto aficionados laments the lack of openness from regulators to new technologies. Regardless, there is deep misunderstanding and distrust between the public and the tech community.
Emerging markets of cryptocurrencies
Since the birth of Bitcoin, crypto builders have been developing the wrong solutions. The first generation of cryptocurrencies were hard forks of Bitcoin. They tried to create so called better versions of Bitcoin. Then there were efforts to generalize Bitcoin to blockchain technology. These trends continue. But we still end up with no cryptocurrency that we can use for everyday transactions.
It’s time to resolve the ideological debate between centralization and decentralization. Historical trends in technology told us that we swerve between these two polars. We cannot completely settle into one place. That would be utopia or dystopia. We went from mainframe (centralized) to personal computers (decentralized). Then we made the transition to cloud computing (centralized). There is now effort to decentralize the cloud computing stacks. The cycles never end.
Each cryptocurrency makes their own design tradeoff. It it useful to think about monies in a spectrum.
As we move from Centralization and Decentralization, we get different kinds of currencies. Each comes with their own advantage and disadvantage.
The potential of semi-centralized cryptocurrencies like Libra
Libra is a semi-centralized cryptocurrency. It is a better version of centralized cryptocurrencies like Tether or USDC. These coins are issued by a single entity. There is no way to audit their record. We rather have a stablecoin issued by an association of companies. The Libra Association has a governing charter. It is beneficial for consumers having member companies audit the Libra record. These member companies have competing agenda. They serve as check and balance for consumers.
Libra is too early
Unfortunately, Facebook initiated the Libra project. The company was involved in many data and privacy scandals. Consumer’s trust in Facebook is low. Another hurdle for Libra adoption is the public’s misunderstanding. Bitcoin is difficult to understand. Most people don’t have time to dive into its details. Its price fluctuates wildly. They don’t see benefits of cryptocurrencies. Bitcoin has as many critics as believers. The public has not accepted a crypto future. To normal people, Libra is another effort by big corporations to intrude and control their lives.
Filling the gap with Bitflate, a decentralized stablecoin
Bitflate is a cryptocurrency with constant inflation rate of 7%. The project’s goal is to create a digital native and decentralized stablecoin. By adding inflation, Bitflate price will not rise forever. It will have less price volatility. Bitflate can be a gentler introduction for people to the world of cryptocurrency.
Cryptocurrency Future
A cryptocurrency future is inevitable. There will be many cryptocurrencies. Each will have a different design and tradeoff. Instead of thinking about zero sum games, we need to look forward to this future. We will have greater financial freedom. We can choose the best currencies for our financial goals. Governments and companies will soon join this vision. At the end of the day, we the people, are in control.
The government is always the slowest and the last to adopt new technology. I'm not sure if regulators are ready to give Libra project the light of day because I'm sure that it will change everything as we know it.Facebook CEO, Mark Zuckerberg, recently appeared in front of the United States Congress for a hearing about Libra cryptocurrency. The hearing lacked substance. Most congress members did not inquire deeply about Libra. They instead delved into smearing Facebook and its credibility. Both sides point fingers at each other. Crypto aficionados laments the lack of openness from regulators to new technologies. Regardless, there is deep misunderstanding and distrust between the public and the tech community.
Emerging markets of cryptocurrencies
Since the birth of Bitcoin, crypto builders have been developing the wrong solutions. The first generation of cryptocurrencies were hard forks of Bitcoin. They tried to create so called better versions of Bitcoin. Then there were efforts to generalize Bitcoin to blockchain technology. These trends continue. But we still end up with no cryptocurrency that we can use for everyday transactions.
It’s time to resolve the ideological debate between centralization and decentralization. Historical trends in technology told us that we swerve between these two polars. We cannot completely settle into one place. That would be utopia or dystopia. We went from mainframe (centralized) to personal computers (decentralized). Then we made the transition to cloud computing (centralized). There is now effort to decentralize the cloud computing stacks. The cycles never end.
Each cryptocurrency makes their own design tradeoff. It it useful to think about monies in a spectrum.
As we move from Centralization and Decentralization, we get different kinds of currencies. Each comes with their own advantage and disadvantage.
The potential of semi-centralized cryptocurrencies like Libra
Libra is a semi-centralized cryptocurrency. It is a better version of centralized cryptocurrencies like Tether or USDC. These coins are issued by a single entity. There is no way to audit their record. We rather have a stablecoin issued by an association of companies. The Libra Association has a governing charter. It is beneficial for consumers having member companies audit the Libra record. These member companies have competing agenda. They serve as check and balance for consumers.
Libra is too early
Unfortunately, Facebook initiated the Libra project. The company was involved in many data and privacy scandals. Consumer’s trust in Facebook is low. Another hurdle for Libra adoption is the public’s misunderstanding. Bitcoin is difficult to understand. Most people don’t have time to dive into its details. Its price fluctuates wildly. They don’t see benefits of cryptocurrencies. Bitcoin has as many critics as believers. The public has not accepted a crypto future. To normal people, Libra is another effort by big corporations to intrude and control their lives.
Filling the gap with Bitflate, a decentralized stablecoin
Bitflate is a cryptocurrency with constant inflation rate of 7%. The project’s goal is to create a digital native and decentralized stablecoin. By adding inflation, Bitflate price will not rise forever. It will have less price volatility. Bitflate can be a gentler introduction for people to the world of cryptocurrency.
Cryptocurrency Future
A cryptocurrency future is inevitable. There will be many cryptocurrencies. Each will have a different design and tradeoff. Instead of thinking about zero sum games, we need to look forward to this future. We will have greater financial freedom. We can choose the best currencies for our financial goals. Governments and companies will soon join this vision. At the end of the day, we the people, are in control.
Adopting Libra means adopting cryptocurrency world wide. Facebook already owns Instagram, WhatsApp, and occulus rift, if they were allowed to make a stable coin, they would have a very great deal of influence and power in every single country where Facebook is accessible.
Quote
I do personally think that market are ready to accept any coins.
Politicians reflect public opinion. I think crypto market is ready. But the general public is not ready. For example, look at Bitcoin adoption.
Quote
Maybe I should read more deeply about this if I want to invest with them.
I don't think coins like Libra is for investment. They are semi-centralized and designed to peg with assets. Maybe people can trade them to make money like forex.
The potential of semi-centralized cryptocurrencies like Libra
Libra is a semi-centralized cryptocurrency. It is a better version of centralized cryptocurrencies like Tether or USDC. These coins are issued by a single entity. There is no way to audit their record. We rather have a stablecoin issued by an association of companies. The Libra Association has a governing charter. It is beneficial for consumers having member companies audit the Libra record. These member companies have competing agenda. They serve as check and balance for consumers.
I dont know why, but I still dont understand this.
Perhaps, it is because this is the first time I heard this kind of a project.
Maybe I should read more deeply about this if I want to invest with them.
But wait, investing with them means your Libra coin may get a higher value someday? Some say it will not, same with Tether.
Semi-centralized currencies: This type is new and emerging. It has potential of being more transparent than centralized currencies. Libra is an example. It is governed by the Libra Association. The ledger is likely to be public. Association members have different interests. They can serve as check and balance. From user standpoint, this type is an improvement from existing centralized currencies. Users get price stability and more transparency. But the main hurdle is competition with centralized currencies.
The correct proposition should be: The market does not need libra.
Bitcoin has been on the market for 10 years and has come to these days without anyone's help. Amazon, Facebook, IBM and more.
Blockchain and Bitcoin do not need any of these technology giants support. But they need blockchain support for growth.
Bitcoin has been on the market for 10 years and has come to these days without anyone's help. Amazon, Facebook, IBM and more.
Blockchain and Bitcoin do not need any of these technology giants support. But they need blockchain support for growth.
Thank you for being one of the few who thinks so. I really give up on crypto people these days. When Libra came out, so many socalled experts said this was going to be big for crypto,,, but I have no idea what they were thinking of. Bitcoin has never needed centralized crypto and people keep asking for banks and what not to come on and make bitcoin great or whatever.
They need us normal people to keep using them. That is all.
Original Post: https://bitflate.org/post/2019/10/25/market-is-not-ready-for-libra.html
Facebook CEO, Mark Zuckerberg, recently appeared in front of the United States Congress for a hearing about Libra cryptocurrency. The hearing lacked substance. Most congress members did not inquire deeply about Libra. They instead delved into smearing Facebook and its credibility. Both sides point fingers at each other. Crypto aficionados laments the lack of openness from regulators to new technologies. Regardless, there is deep misunderstanding and distrust between the public and the tech community.
Emerging markets of cryptocurrencies
Since the birth of Bitcoin, crypto builders have been developing the wrong solutions. The first generation of cryptocurrencies were hard forks of Bitcoin. They tried to create so called better versions of Bitcoin. Then there were efforts to generalize Bitcoin to blockchain technology. These trends continue. But we still end up with no cryptocurrency that we can use for everyday transactions.
It’s time to resolve the ideological debate between centralization and decentralization. Historical trends in technology told us that we swerve between these two polars. We cannot completely settle into one place. That would be utopia or dystopia. We went from mainframe (centralized) to personal computers (decentralized). Then we made the transition to cloud computing (centralized). There is now effort to decentralize the cloud computing stacks. The cycles never end.
As we move from Centralization and Decentralization, we get different kinds of currencies. Each comes with their own advantage and disadvantage.
The potential of semi-centralized cryptocurrencies like Libra
Libra is a semi-centralized cryptocurrency. It is a better version of centralized cryptocurrencies like Tether or USDC. These coins are issued by a single entity. There is no way to audit their record. We rather have a stablecoin issued by an association of companies. The Libra Association has a governing charter. It is beneficial for consumers having member companies audit the Libra record. These member companies have competing agenda. They serve as check and balance for consumers.
Libra is too early
Unfortunately, Facebook initiated the Libra project. The company was involved in many data and privacy scandals. Consumer’s trust in Facebook is low. Another hurdle for Libra adoption is the public’s misunderstanding. Bitcoin is difficult to understand. Most people don’t have time to dive into its details. Its price fluctuates wildly. They don’t see benefits of cryptocurrencies. Bitcoin has as many critics as believers. The public has not accepted a crypto future. To normal people, Libra is another effort by big corporations to intrude and control their lives.
Filling the gap with Bitflate, a decentralized stablecoin
Bitflate is a cryptocurrency with constant inflation rate of 7%. The project’s goal is to create a digital native and decentralized stablecoin. By adding inflation, Bitflate price will not rise forever. It will have less price volatility. Bitflate can be a gentler introduction for people to the world of cryptocurrency.
Cryptocurrency Future
A cryptocurrency future is inevitable. There will be many cryptocurrencies. Each will have a different design and tradeoff. Instead of thinking about zero sum games, we need to look forward to this future. We will have greater financial freedom. We can choose the best currencies for our financial goals. Governments and companies will soon join this vision. At the end of the day, we the people, are in control.
Facebook CEO, Mark Zuckerberg, recently appeared in front of the United States Congress for a hearing about Libra cryptocurrency. The hearing lacked substance. Most congress members did not inquire deeply about Libra. They instead delved into smearing Facebook and its credibility. Both sides point fingers at each other. Crypto aficionados laments the lack of openness from regulators to new technologies. Regardless, there is deep misunderstanding and distrust between the public and the tech community.
Emerging markets of cryptocurrencies
Since the birth of Bitcoin, crypto builders have been developing the wrong solutions. The first generation of cryptocurrencies were hard forks of Bitcoin. They tried to create so called better versions of Bitcoin. Then there were efforts to generalize Bitcoin to blockchain technology. These trends continue. But we still end up with no cryptocurrency that we can use for everyday transactions.
It’s time to resolve the ideological debate between centralization and decentralization. Historical trends in technology told us that we swerve between these two polars. We cannot completely settle into one place. That would be utopia or dystopia. We went from mainframe (centralized) to personal computers (decentralized). Then we made the transition to cloud computing (centralized). There is now effort to decentralize the cloud computing stacks. The cycles never end.
As we move from Centralization and Decentralization, we get different kinds of currencies. Each comes with their own advantage and disadvantage.
The potential of semi-centralized cryptocurrencies like Libra
Libra is a semi-centralized cryptocurrency. It is a better version of centralized cryptocurrencies like Tether or USDC. These coins are issued by a single entity. There is no way to audit their record. We rather have a stablecoin issued by an association of companies. The Libra Association has a governing charter. It is beneficial for consumers having member companies audit the Libra record. These member companies have competing agenda. They serve as check and balance for consumers.
Libra is too early
Unfortunately, Facebook initiated the Libra project. The company was involved in many data and privacy scandals. Consumer’s trust in Facebook is low. Another hurdle for Libra adoption is the public’s misunderstanding. Bitcoin is difficult to understand. Most people don’t have time to dive into its details. Its price fluctuates wildly. They don’t see benefits of cryptocurrencies. Bitcoin has as many critics as believers. The public has not accepted a crypto future. To normal people, Libra is another effort by big corporations to intrude and control their lives.
Filling the gap with Bitflate, a decentralized stablecoin
Bitflate is a cryptocurrency with constant inflation rate of 7%. The project’s goal is to create a digital native and decentralized stablecoin. By adding inflation, Bitflate price will not rise forever. It will have less price volatility. Bitflate can be a gentler introduction for people to the world of cryptocurrency.
Cryptocurrency Future
A cryptocurrency future is inevitable. There will be many cryptocurrencies. Each will have a different design and tradeoff. Instead of thinking about zero sum games, we need to look forward to this future. We will have greater financial freedom. We can choose the best currencies for our financial goals. Governments and companies will soon join this vision. At the end of the day, we the people, are in control.
That was way too detailed though. I do personally think that market are ready to accept any coins. May be libra is the one who was not ready for the market. Mark Zuckerberg ceo of Facebook stated that it was going to be deployed if United States regulatory do regulate Libra. Besides, I do not think it would be going to be as popular as Bitcoin.
Original Post: https://bitflate.org/post/2019/10/25/market-is-not-ready-for-libra.html
Facebook CEO, Mark Zuckerberg, recently appeared in front of the United States Congress for a hearing about Libra cryptocurrency. The hearing lacked substance. Most congress members did not inquire deeply about Libra. They instead delved into smearing Facebook and its credibility. Both sides point fingers at each other. Crypto aficionados laments the lack of openness from regulators to new technologies. Regardless, there is deep misunderstanding and distrust between the public and the tech community.
Emerging markets of cryptocurrencies
Since the birth of Bitcoin, crypto builders have been developing the wrong solutions. The first generation of cryptocurrencies were hard forks of Bitcoin. They tried to create so called better versions of Bitcoin. Then there were efforts to generalize Bitcoin to blockchain technology. These trends continue. But we still end up with no cryptocurrency that we can use for everyday transactions.
It’s time to resolve the ideological debate between centralization and decentralization. Historical trends in technology told us that we swerve between these two polars. We cannot completely settle into one place. That would be utopia or dystopia. We went from mainframe (centralized) to personal computers (decentralized). Then we made the transition to cloud computing (centralized). There is now effort to decentralize the cloud computing stacks. The cycles never end.
Each cryptocurrency makes their own design tradeoff. It it useful to think about monies in a spectrum.
As we move from Centralization and Decentralization, we get different kinds of currencies. Each comes with their own advantage and disadvantage.
The potential of semi-centralized cryptocurrencies like Libra
Libra is a semi-centralized cryptocurrency. It is a better version of centralized cryptocurrencies like Tether or USDC. These coins are issued by a single entity. There is no way to audit their record. We rather have a stablecoin issued by an association of companies. The Libra Association has a governing charter. It is beneficial for consumers having member companies audit the Libra record. These member companies have competing agenda. They serve as check and balance for consumers.
Libra is too early
Unfortunately, Facebook initiated the Libra project. The company was involved in many data and privacy scandals. Consumer’s trust in Facebook is low. Another hurdle for Libra adoption is the public’s misunderstanding. Bitcoin is difficult to understand. Most people don’t have time to dive into its details. Its price fluctuates wildly. They don’t see benefits of cryptocurrencies. Bitcoin has as many critics as believers. The public has not accepted a crypto future. To normal people, Libra is another effort by big corporations to intrude and control their lives.
Filling the gap with Bitflate, a decentralized stablecoin
Bitflate is a cryptocurrency with constant inflation rate of 7%. The project’s goal is to create a digital native and decentralized stablecoin. By adding inflation, Bitflate price will not rise forever. It will have less price volatility. Bitflate can be a gentler introduction for people to the world of cryptocurrency.
Cryptocurrency Future
A cryptocurrency future is inevitable. There will be many cryptocurrencies. Each will have a different design and tradeoff. Instead of thinking about zero sum games, we need to look forward to this future. We will have greater financial freedom. We can choose the best currencies for our financial goals. Governments and companies will soon join this vision. At the end of the day, we the people, are in control.
Facebook CEO, Mark Zuckerberg, recently appeared in front of the United States Congress for a hearing about Libra cryptocurrency. The hearing lacked substance. Most congress members did not inquire deeply about Libra. They instead delved into smearing Facebook and its credibility. Both sides point fingers at each other. Crypto aficionados laments the lack of openness from regulators to new technologies. Regardless, there is deep misunderstanding and distrust between the public and the tech community.
Emerging markets of cryptocurrencies
Since the birth of Bitcoin, crypto builders have been developing the wrong solutions. The first generation of cryptocurrencies were hard forks of Bitcoin. They tried to create so called better versions of Bitcoin. Then there were efforts to generalize Bitcoin to blockchain technology. These trends continue. But we still end up with no cryptocurrency that we can use for everyday transactions.
It’s time to resolve the ideological debate between centralization and decentralization. Historical trends in technology told us that we swerve between these two polars. We cannot completely settle into one place. That would be utopia or dystopia. We went from mainframe (centralized) to personal computers (decentralized). Then we made the transition to cloud computing (centralized). There is now effort to decentralize the cloud computing stacks. The cycles never end.
Each cryptocurrency makes their own design tradeoff. It it useful to think about monies in a spectrum.
As we move from Centralization and Decentralization, we get different kinds of currencies. Each comes with their own advantage and disadvantage.
The potential of semi-centralized cryptocurrencies like Libra
Libra is a semi-centralized cryptocurrency. It is a better version of centralized cryptocurrencies like Tether or USDC. These coins are issued by a single entity. There is no way to audit their record. We rather have a stablecoin issued by an association of companies. The Libra Association has a governing charter. It is beneficial for consumers having member companies audit the Libra record. These member companies have competing agenda. They serve as check and balance for consumers.
Libra is too early
Unfortunately, Facebook initiated the Libra project. The company was involved in many data and privacy scandals. Consumer’s trust in Facebook is low. Another hurdle for Libra adoption is the public’s misunderstanding. Bitcoin is difficult to understand. Most people don’t have time to dive into its details. Its price fluctuates wildly. They don’t see benefits of cryptocurrencies. Bitcoin has as many critics as believers. The public has not accepted a crypto future. To normal people, Libra is another effort by big corporations to intrude and control their lives.
Filling the gap with Bitflate, a decentralized stablecoin
Bitflate is a cryptocurrency with constant inflation rate of 7%. The project’s goal is to create a digital native and decentralized stablecoin. By adding inflation, Bitflate price will not rise forever. It will have less price volatility. Bitflate can be a gentler introduction for people to the world of cryptocurrency.
Cryptocurrency Future
A cryptocurrency future is inevitable. There will be many cryptocurrencies. Each will have a different design and tradeoff. Instead of thinking about zero sum games, we need to look forward to this future. We will have greater financial freedom. We can choose the best currencies for our financial goals. Governments and companies will soon join this vision. At the end of the day, we the people, are in control.
The market is ready for Libra, it just doesn't need it, apart from raising awareness, imo. Libra is not a super-innovative crypto, it is just a way for Facebook and Mark to get more money.
Many are critical of my semi-centralized label for Libra. Let me explain the design tradeoff from user perspective.
Centralized currencies: These currencies are issued by centralized authorities. Their governance is often opaque, driven by political agenda. There are few public guidelines. We rely on proxies (e.g. political representatives) to voice our opinions. Examples of this type are obviously fiat currencies. The US Fed operates under dual mandate: maximum employment and stable price. These guidelines are vague, very difficult for normal people to understand. Tether and other pegged stablecoins are also centralized currencies. They're controlled by the issuing companies. We don't have independent audit. From user standpoint, we have little control and transparency. It's hard to get audit and insight.
Semi-centralized currencies: This type is new and emerging. It has potential of being more transparent than centralized currencies. Libra is an example. It is governed by the Libra Association. The ledger is likely to be public. Association members have different interests. They can serve as check and balance. From user standpoint, this type is an improvement from existing centralized currencies. Users get price stability and more transparency. But the main hurdle is competition with centralized currencies.
Decentralized currencies: These are cryptocurrencies starting with/inspired by Bitcoin. They are decentralized and governed by consensus. Most aspects are public and transparent. Users understand rules of engagement. They can also inspect the currencies. But consensus change requires all users to buy in. It is very difficult to alter these currencies. Because they are decentralized and digital native, they are detached from the financial system. They rely on market for price. Examples include Bitcoin, Litecoin, Dogecoin. My coin design, Bitflate, has a 7% inflation rate. It is set for the chain. Nodes are already running the software. It'll be difficult to change. With decentralization, user gets transparency, but need to live with price volatility.
Centralized currencies: These currencies are issued by centralized authorities. Their governance is often opaque, driven by political agenda. There are few public guidelines. We rely on proxies (e.g. political representatives) to voice our opinions. Examples of this type are obviously fiat currencies. The US Fed operates under dual mandate: maximum employment and stable price. These guidelines are vague, very difficult for normal people to understand. Tether and other pegged stablecoins are also centralized currencies. They're controlled by the issuing companies. We don't have independent audit. From user standpoint, we have little control and transparency. It's hard to get audit and insight.
Semi-centralized currencies: This type is new and emerging. It has potential of being more transparent than centralized currencies. Libra is an example. It is governed by the Libra Association. The ledger is likely to be public. Association members have different interests. They can serve as check and balance. From user standpoint, this type is an improvement from existing centralized currencies. Users get price stability and more transparency. But the main hurdle is competition with centralized currencies.
Decentralized currencies: These are cryptocurrencies starting with/inspired by Bitcoin. They are decentralized and governed by consensus. Most aspects are public and transparent. Users understand rules of engagement. They can also inspect the currencies. But consensus change requires all users to buy in. It is very difficult to alter these currencies. Because they are decentralized and digital native, they are detached from the financial system. They rely on market for price. Examples include Bitcoin, Litecoin, Dogecoin. My coin design, Bitflate, has a 7% inflation rate. It is set for the chain. Nodes are already running the software. It'll be difficult to change. With decentralization, user gets transparency, but need to live with price volatility.
Quote
I don't think that it is all about crypto regulations the government holds Libra to be in the market but because of lack back-up support and a questionable act of the owner bringing Libra as a stable coin. The regulatory board tried to look deeper on and help that this coin couldn't be another tool to compromise the people.
https://hackernoon.com/facebook-and-libra-coin-what-you-need-to-know-bc9296921d8f
https://hackernoon.com/facebook-and-libra-coin-what-you-need-to-know-bc9296921d8f
Many people are conflating the need for a semi-centralized crypto like Libra and Facebook. It is absurd that we are ok with Tether/USDC but we don't want Libra. The Libra Association has members with reputation. If we need to regulate the Libra, we should discuss about regulations. Opposition to Libra comes from tainted Facebook reputation and public misunderstanding.
Quote
The correct proposition should be: The market does not need libra.
Why does the market need Tether/USDC? Semi-centralized crypto is a better alternative.
To be honest, Libra's troubles highlight the need for my coin design, Bitflate, a decentralized (somewhat) stablecoin. But crypto would be more successful if we have more choices.
The correct proposition should be: The market does not need libra.
Bitcoin has been on the market for 10 years and has come to these days without anyone's help. Amazon, Facebook, IBM and more.
Blockchain and Bitcoin do not need any of these technology giants support. But they need blockchain support for growth.
Bitcoin has been on the market for 10 years and has come to these days without anyone's help. Amazon, Facebook, IBM and more.
Blockchain and Bitcoin do not need any of these technology giants support. But they need blockchain support for growth.
I don't think that it is all about crypto regulations the government holds Libra to be in the market but because of lack back-up support and a questionable act of the owner bringing Libra as a stable coin. The regulatory board tried to look deeper on and help that this coin couldn't be another tool to compromise the people.
https://hackernoon.com/facebook-and-libra-coin-what-you-need-to-know-bc9296921d8f
https://hackernoon.com/facebook-and-libra-coin-what-you-need-to-know-bc9296921d8f
I think many people see cryptocurrency purely about narratives. Bitcoin is digital gold. Fiat is government money. I suggest you see currencies from its design. The design is how these currencies will work. We can decide whether they fit our needs. We won't fall into bogus narrative and marketing that people throw around.
Each design comes with tradeoff. You can't get everything you want in one design. I come up with this model to help others understand where the designs fit in.
Fiat <==> Bitcoin
Centralized <==> Decentralized
Centralized <=> Pegged/Centralized Stablecoin (Tether, USDC) <=> Semi-centralized Stablecoin (Libra) <=> Decentralized Stablecoin (Bitflate) <=> Decentralized
Libra's main obstacle is regulators. They reflect the public opinion. From engineering and operational, I don't see a big challenge. After 10 years of cryptocurrency development, we have many options to chose. Libra is a digital ledger shared and audited by the Libra Association. It's not difficult to implement. It's probably easier to implement Libra than Bitcoin. Libra is ready to go.
Another criticism is Facebook started Libra. If Libra succeeds, other big companies will try to do their own. I'd be excited to see other big tech companies creating their own cryptocurrency. That's big corporations working for the people.
Yes, I'm promoting our coin, Bitflate. It has a 7% inflation rate. Our goal is to create a digital native, decentralized (somewhat) stablecoin. I think Libra and Bitflate are on the same boat. The market has not fully understood the needs for Libra and Bitflate. Bitflate is ahead of Libra. We're live on mainnet now.
Each design comes with tradeoff. You can't get everything you want in one design. I come up with this model to help others understand where the designs fit in.
Fiat <==> Bitcoin
Centralized <==> Decentralized
Centralized <=> Pegged/Centralized Stablecoin (Tether, USDC) <=> Semi-centralized Stablecoin (Libra) <=> Decentralized Stablecoin (Bitflate) <=> Decentralized
Quote
Is the market not ready for Libra? Or is Libra not ready for the market?
Libra's main obstacle is regulators. They reflect the public opinion. From engineering and operational, I don't see a big challenge. After 10 years of cryptocurrency development, we have many options to chose. Libra is a digital ledger shared and audited by the Libra Association. It's not difficult to implement. It's probably easier to implement Libra than Bitcoin. Libra is ready to go.
Another criticism is Facebook started Libra. If Libra succeeds, other big companies will try to do their own. I'd be excited to see other big tech companies creating their own cryptocurrency. That's big corporations working for the people.
Quote
OP is promoting his own shitcoins. Cant you all see? This is a topic from bitinflate, another shitcoin going down the drain but some noobs attempt to pick it up and try to make money from it. They are using Libra for the SEO that is has gained recently thus trying to market their opinion.
Yes, I'm promoting our coin, Bitflate. It has a 7% inflation rate. Our goal is to create a digital native, decentralized (somewhat) stablecoin. I think Libra and Bitflate are on the same boat. The market has not fully understood the needs for Libra and Bitflate. Bitflate is ahead of Libra. We're live on mainnet now.
I think the main problem of Libra is the connection with Facebook, which has huge problems with public confidence. In my opinion, the market is ready for Libra, but not ready for a Facebook coin. I hope we see something similar to Libra, but not under the guidance of Mark.
The government is not prepared for libra to once again sign contract to the biggest company who will just ignore them soon when this libra is approved. Facebook will a lot powerful than US government when facebook become bank itself. There is going to be a fight for it but I think the government itself must also decide to adopt blockchain because China is advancing in this industry.
I think the main problem of Libra is the connection with Facebook, which has huge problems with public confidence. In my opinion, the market is ready for Libra, but not ready for a Facebook coin. I hope we see something similar to Libra, but not under the guidance of Mark.
These who are are fans to decentralization are again Libra coin. Also, those who are fans to centralization are again Libra. So Libra seems to be on the fence, with lesser number of people to defend it, particularly those at the elms of affairs. Although, if Libra should eventually launch, it will get supporters.
Unfortunately, Facebook initiated the Libra project. The company was involved in many data and privacy scandals. Consumer’s trust in Facebook is low. Another hurdle for Libra adoption is the public’s misunderstanding. Bitcoin is difficult to understand. Most people don’t have time to dive into its details. Its price fluctuates wildly. They don’t see benefits of cryptocurrencies. Bitcoin has as many critics as believers. The public has not accepted a crypto future. To normal people, Libra is another effort by big corporations to intrude and control their lives.
Is this really a problem?
People don't understand fiat money and use it every day. They don't understand quantitative easing but does that stop fiat in any way?
The Internet also had as many critics as believers.
Somebody has to be the first to pave the way.
The market being ready or not is not the issue here. The market is just there. Sell something to the market to test whether your product is acceptable or not. There are so many products and projects that did not make a good outcome in the market. So be it. The good thing there is that they were allowed to enter the market. Let the market players decide. The problem with libra is not the market. It is the government stopping it. If libra is bad enough for being associated with Facebook then let the market decide that by not adopting it. Let the project die naturally just like a lot of crypto projects.
I don't know why some people don't like libra specially big bitcoin investors. Well i am still learning about this technology and libra could make more awareness about this technology. So it's good for crypto industries. As I saw many cryptocurrency already exist and actively trading over top crypto currency exchanges who don't solve any real problems in crypto world so why not we should encourage libra who have a lot of possibilites. And ofcourse Bitcoin is the king. Noone can ignore it.
You can say libra maybe a good motivation for Crypto Industries but can it be useful in our social life? Nowadays FB has already given us so many ways for payments, and it is getting more convenient than cryptos, moreover, Libra itseft is a stable coin and no one accept to use a currency lying on words of FB since they already have so many bad reputations recently. So a crypto like Libra has no trust from community will surely dead if its own foundations has too many problems. Unfortunately, Facebook initiated the Libra project. The company was involved in many data and privacy scandals. Consumer’s trust in Facebook is low. Another hurdle for Libra adoption is the public’s misunderstanding. Bitcoin is difficult to understand. Most people don’t have time to dive into its details. Its price fluctuates wildly. They don’t see benefits of cryptocurrencies. Bitcoin has as many critics as believers. The public has not accepted a crypto future. To normal people, Libra is another effort by big corporations to intrude and control their lives.
Is this really a problem?
People don't understand fiat money and use it every day. They don't understand quantitative easing but does that stop fiat in any way?
The Internet also had as many critics as believers.
Somebody has to be the first to pave the way.
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