Facebook Cryptocurrency

Is Libra As Good As It Looks? About this currency goes a lot of controversial opinions. One of them is that it will be blocked by the government. It makes me a little bit wary, even though I trust this cryptocurrency in general. The situation may change, so I recommend regularly to monitor how it develops Libra cryptocurrency.
 
I've looked through several Facebook cryptocurrency groups in order to find out other people's opinions about Libra. They were divided. Some people think that it is a bubble and don't predict a long future to it. Other people are not so skeptic and are really interested in it. Personally I don't know how to react. When Bitcoin appeared, most of us were against investing in, but now it is one of the most popular cryptocurrencies. So, I think, it is too early to judge Libra.
 
If you read through the whitepaper - It's not a blockchain, more a private database. It's not a cryptocurrency even though it uses the term.

The supply is infinite, and you do not have control over your private keys.

https://developers.libra.org/docs/the-libra-blockchain-paper


If you tuned into the hearings today, the underlying sentiment is that there is very little trust that FB will do what they say.

Given that they are establishing the Libra Association in Geneva, Switzerland, it's gonna be interesting to see how the jurisdiction juggernaut will be navigated. And then there is this:

https://www.cnbc.com/2019/07/16/fdp...t-contacted-about-libra-data-protections.html


Overall bullish for Bitcoin, even though today liquidated a lot of longs.
 
I think Facebook tokens will make the market go up. If Zuckerberg decided to release tokens, then probably in the crypt there is a point.
I do not know about Bitcoin. Many cryptocurrencies could not surpass it, although they had clear advantages over Bitcoin, such as anonymity.

I think that this will give a good impetus for the development of cryptocurrency in the future.
 
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