I don't care how much people say it's not, it is. Why? one word: money. There's just too much money involved for it not to happen, and god knows our governments can be bought. That being said, it's too risky not to do it, not to allow for Libra to happen. What if the US get's left behind?
dittotrade.com
You see, it's a race, just like going to the moon. What country, what world power is going to take the next technological steps? Will it be us, will it be china? Wait... I think China is already taking the steps. Oh wait.... we are losing already......
Well, you get my point, this is nothing, absolutely nothing in the big picture. As a matter of fact, those who are capitulating right now are helping. Why? Because more weak hands need to be shaken off anyways. The recent upticks have been to weak and too fast. The volume not being there, and most of the rally just being people exiting their alt positions tell us one thing: new all time highs are still far away.
I fully realize some voices on crypto just went bearish, and do not worry, I'm not joining them. I'm still bullish because this is obvious to me, this was obvious. As a matter of fact, if you follow Omar (@crypt0) you knew the content of today's discussion already. Why is anyone surprised?
Libra is happening and BTC will benefit from it, I guarantee it. The easy ramp off/on will usher in the new digital age, and if the US wants to stay relevant, it won't stand in the way of this innovation. No matter how many Roubinis you throw at it, we can't afford to lose. Not with the geopolitical climate.
So my friend, don't get shaken off so easily.
MenO
The thing which is bearish is Bitcoin is now taking clues from outside sources like Facebook, Donald trump etc etc. This is Bad for crypto big time, but its only because crypto is completely driven by popular opinion anyway. I thought Libra was going to be a stable coin anyway and not anything to invest in, am i wrong?
Libra will be a stable coin, but we can assume on/off ramps with a BTC/Libra pair and a strong legislative infrastructure for it all.
So, even thought BTC is not dependant on Libra directly, it does affect the speculation aspect in the short term. That being said, there's not only one path to mass adoption, and this is important to point out as well.
I am not a fan of facebook but I was happy to hear their thoughts on the potential of the technology! It is not a matter of IF but WHEN instead!
Posted using Partiko iOS
Dear @newageinv
Discussions regarding Libra and Facebook are very intense lately and I personally don't know yet what to think about it.
I'm mostly interested how FED and other central banks will react if they will realize that Libra is a threat for current financial system.
Personally I will not put my trust in Facebook and I don't think I will ever use Libra. However I will surely pay attention to this project as it may turn our financial world up-side-down....
Important questionI would like to ask you, and hopefully you would share your own opinion:For that reason alone I cannot see monetary system being changed much. Neither by libra or bitcoin or any other crypto. Debts, goverment expenses, trade oil - all of it will still require $$$.
What do you think?
Yours
Piotr
Crypto developments is the new "arms race" of present technology era and financial regime. A race to world supremacy and mass recognition.
Libra is not yet in the battle. Compared to steem, we are already battle tested.
Hello,
Thanks for the inspiring words, crypto the the moon 🌝!!
-pf
Libra can be a game changer but it should have to spend sometime in the market to get some strong value.
Exactly....Steve Mnuchin doesn't know this. lol
Dear @meno
Indeed. That's enormous war about influence and control over money. However I wouldn't think that Libra and FB can ever win if FED would decide to take them down. Governments can be bought, but FED does not belong to any goverment. Neither european central banks.
Discussions regarding Libra and Facebook are very intense lately and I personally don't know yet what to think about it.
I'm mostly interested how FED and other central banks will react if they will realize that Libra is a threat for current financial system.
Personally I will not put my trust in Facebook and I don't think I will ever use Libra. However I will surely pay attention to this project as it may turn our financial world up-side-down....
Important questionI would like to ask you, and hopefully you would share your own opinion:For that reason alone I cannot see monetary system being changed much. Neither by libra or bitcoin or any other crypto. Debts, goverment expenses, trade oil - all of it will still require $$$.
What do you think? Upvote on the way.
Yours,
Piotr
Well, the answer is quite complex, but to keep it as simple as possible.
Fiat currencies are as you pointed out debt backed for the sole purpose of giving governments the ability to tweak said debt.
It's literally as if you've entered a contract to purchase a home for example, but the APR is adjusted up constantly.
Quantitive easing is nothing more than the sneakiest way of overtaxing the constituency without them even realizing it.
The point behind Bitcoin unlike Libra is to remove this tool of financial oppression. an economic system with rigid supply cannot be used to privatize gains and socialize losses as Fiat currency economic models do.
libra is just a digital representation of the Fiat system, but I consider it a net positive because it normalizes the concept of digital money.
Posted using Partiko Android
Great comment. I really appreciate your kind reply @meno
Isn't true, that whoever control debt - will control economy?
I tried to understand QE and I'm failing. I've learned that new money can be "printed" only once there is debt to back it up. But QE doesn't seem to follow that rule ....
Indeed. Especially if we take into consideration that it will be 100% backed by FIAT reserves. So those two will go hand to hand.
I also wanted to make some suggestion.
My impression is, that the hardest part of attracting attention on STEEMIT is the fact, that our audience have very little chance to actually find our publications. Lack of solid notification system is an obvious issue. And regardless how hard I would try - there is very little chance I would find out about your new interesting publications (my feed is just flooded with to many posts).
Please allow me to share some suggestion with you. If you would ever publish content related to blockchain, crypto, artificial intelligence, psychology etc. then perhaps you could simply send me memo with link to that post.
This way not only I would have a chance to read your publication, drop a comment but I will also `upvote it right away with almost 20k SP voting power (I also have almost 10k PAL tokens, which may give you some extra benefits is you're using PALnet.io)
Please let me know what do you think. This surely should sound like a interesting offer :))
Cheers, Piotr
One more question @meno
How many tokens daily are you receiving from PALnet? It does look like 20 PAL a day. I've similar stake and I'm making half of it and I'm trying to figure out why ....
for a while I was posting 4 articles a day, so I was growing pretty fast... I've slowed down this week as I've been doing some house remodeling.
But that's "the trick" so to speak.
I theorize that FB paid the leaders of Steemit for secret information and data during the great hardfork of 2018. FB took the info to help work out the bugs of their new Libra coin. If you take note of the corresponding dates and immediate toilet flush of Steemit you will realize what I am trying to communicate. I agree with this poster in that its all about the money. Libra will happen and Steemit will be a memory along with other trailblazing coins who sold their souls to the devil.
it aint a matter of IF but WHEN... ;P