Farts
Rubber ducky you're the one
You make bath time lots of fun
Rubber ducky I'm awfully fond of you
I once heard of a case where a Bitcoin ATM was stolen, and the one covering the story was scoffing about the thief not finding any Bitcoin in the ATM.
But then. If a thief is able to crack open the cash box, and get the machine plugged in and running, maybe they can keep feeding the same $100 bills. But probably not, the ATM probably has that covered.
About that Facebook coin.
Yesterday Jim Cramer's take on this.
Today facebook announced their new cryptocurrency for 2020
27 companies supporting this project.
Right now the business news and crypto news outlets are going on about this.
Libra will be a stable coin backed by the USD and it will be used around the world.
The Wallet is called Calibra and it will come in the form as a stand alone application, or it will be available in facebook messenger and Whatsapp.
I like it cause it'll be yet another project that spreads the mass adoption of cryptocurrency.
A world currency like this will solve a lot of problems in places like Venezuela and parts of Africa, where the currency has gone up in smoke.
Grocery stores, gas stations, restaurants, parking meters. Everywhere will get into the habit of accepting Libra as payment as Libra is set to be usable anywhere VISA and Mastercard is present.
I like it cause it'll be yet another project that spreads the mass adoption of cryptocurrency.
A world currency like this will solve a lot of problems in places like Venezuela and parts of Africa, where the currency has gone up in smoke.
Grocery stores, gas stations, restaurants, parking meters. Everywhere will get into the habit of accepting Libra as payment as Libra is set to be usable anywhere VISA and Mastercard is present.
I'm with you on the mass adoption thing, I suspect it'll take off like apple pay.
For me it's an optics problem, I despise facebook and will not do business with them.
On another note, I find it really interesting how these mega-corporations are involving themselves in finance and in this case going so far to actually create a currency. It's similar to those old company scrips miners used to get because their mining towns were so far away from civilization that the companies created their own currencies they'd pay their employees.
last edit on
6/18/2019 3:24:52 PM
Yes Alice. About those corporations. There really is no way for them to turn a profit on this project considering each coin will have to have it's own reserved currency to keep it's value stable. Unless maybe they hold cryptocurrencies. There are rumors of Zuckerberg investing in Bitcoin behind the scene, and this project could be their way of increasing the value of their investment.
This is also a bold move, creating reserves in the US and Europe and a few other countries ( as some of the Libra will be backed by EURO and various other fiat money ) the coin will then go online for use around the world. The beauty is that it's not money laundering.
Aside from the charitable aspects and use cases across the globe, they really are giving people the power to buy cryptocurrencies with ease too, and for many it will be credit card>Libra>Bitcoin/altcoins>Libra.
Bitcoin Cash was intended to be exactly this as it's founder considers it a payment coin for everyone based on it's speed, but stable coin rules for payment.
In the end volatile coins rule in my opinion cause they are too good to live off of on a daily basis. If I hold Libra that's where it'll come from, for this reason I think the Calibra wallet will have mechanisms in place that identify the user and maybe.... report their income, if not, Calibra might turn into a tool that makes it easier to evade tax, and if it's blockchain tech with people invested, it will never go down.
credit card>Libra>Bitcoin/altcoins>Libra.
This is the only potential that may convince me to use it.
If it has low fees and there's no wait time like coinbase I'd be interested in using it to easily and reliably gain access to alt-coins. I think the biggest difficulty with the crypto market is the barrier to entry. A lot of people aren't comfortable or willing to deal with exchanges do to the amount of information needed to begin and hassle that comes along with it. This could lower that barrier and its coming from a brand name everyone already knows and trusts with their data.
But still....not comfortable with facebook having anything on me.
credit card>Libra>Bitcoin/altcoins>Libra.
This is the only potential that may convince me to use it.
If it has low fees and there's no wait time like coinbase I'd be interested in using it to easily and reliably gain access to alt-coins. I think the biggest difficulty with the crypto market is the barrier to entry. A lot of people aren't comfortable or willing to deal with exchanges do to the amount of information needed to begin and hassle that comes along with it. This could lower that barrier and its coming from a brand name everyone already knows and trusts with their data.
But still....not comfortable with facebook having anything on me.
Use the stand alone wallet.
Bitcoin has been reported to be the 8th largest world currency. Bigger than Russia.
With the currently mined 17,770,625 BTC in circulation including those lost forever. Just wow.
To match the US ( not including newly mined coins ) Bitcoin will have to jump 17 times. A 160k-ish Bitcoin.
Gold's value with it's known supply ranks it at the top, but as no one has access to the grand scheme of any of this, Bitcoin is by far better than gold.
Bitcoin $9569 with 57.8% market dominance ( up 1% in dominance ). it's a slow crawl upward while not affecting the prices of others much if at all.
As usual anything could happen. Maybe from 10k to 19k will be a slow crawl as people who got wrecked in 2018 will finally be able to break even with Bitcoin, so there will be a lot of selling going on there. I don't think it will take too long to go from 10k to 20k before moving on to break all time highs.
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Libra
Yesterday the US government ordered the Libra project to stop. It will be heavily scrutinized before it's release in 6 months to a year from now. Their concern would be data, but I doubt it. The project itself is not the facebook platform where people willingly share their data with the service. The reality is the US government will probably accept cryptocurrency, they are already behind the Saudi's on this one.