On a next bull run for #Bitcoin and the birth of Facebook’s (NASDAQ: $FB) Libra; @GenesisBlockch
On
a next bull run for #Bitcoin and the birth of Facebook’s (NASDAQ: $FB) Libra;
@GenesisBlockch
We
had explored volatility these past articles, as well as how the market
should/world evolve eventually. During the last week, events unfolded and justified
previous words.
Facebook
Inc. unveiled it’s plans on the creation of a new cryptocurrency called Libra.
According to the information provided, it will be offered as a stable-a digital
currency that will not fluctuate due to it’s aspiring effort to be supported by
government-backed currencies.
\
Since
it was announced, Bitcoin has spiked over $11.000 per token. Enthusiasts and
professionals say Libra has has no influence over Bitcoin’s sudden growth.
Though
there’s a growing sentiment of “carefullness” when it comes to the new almighty
Libra, and a “rising support” towards Bitcoin; when using the term “digital
money” for both we’re talking about two entirely different animals.
Read this in full
at https://www.investorideas.com/news/2019/cryptocurrency/06251Bitcoin-Libra.asp
Facebook’s
Libra has been identified as a cryptocurrency by most of the concerned public;
existing cryptocurrencies such as Etherium or Bitcoin are the common mental
model associated to the subject. But referring to Libra as a peer-to-peer
payment network is more accurate. This is a digital currency that will be
backed by traditional money in the banks, guaranteeing a stable price and
regulation from diverse financial institutions.
Where
services such as PayPal, Venmo, Square, WeChat, or even Western Union, in some
way layered on top of the traditional financial systems aren’t interoperable,
Libra’s answer creating payment unification in a global scale, at a much lower
cost (transaction fees). Theoretically, anyone should be able to build payment
applications on top of it.
Consider
transferring money from standalone iOS and Android apps, Facebook’s WhatsApp
and Messenger services, and a bunch of other apps that will emerge constantly
to aid you in doing almost anything that involves managing expenses.
All from the comfort of your mobile phone.
Libra will not only benefit from the already financially organized individuals; but its main target lies on the 1.7 billion unbanked around the world. And get this: You won’t need a Facebook account to use Libra.
All from the comfort of your mobile phone.
Libra will not only benefit from the already financially organized individuals; but its main target lies on the 1.7 billion unbanked around the world. And get this: You won’t need a Facebook account to use Libra.
The Libra Association group of 28 founding members includes Visa, Master Card, PayPal, Uber, Lyft, Spotify, Coinbase and others. Libra is expected to go live in 2020.
Libra
will be sold as a cryptocurrency and a totally “blockchained” technology.
Sentiments around the crypto market have been mixed. Still, something worth mentioning
happened last Sunday evening: Bitcoin managed to hit a high of $11,307.69; the
highest price the token has achieved since 2018. This translates into a 20%
growth in value while the rest of cryptocurrencies growth remained relatively
flat.
Market
capitalization rose to a high of $331.8 billion, its highest point since July
31, 2018, while the market capitalization for altcoins is down $3.8 billion
over a 24-hour period pointing to a preference in holding BTC above all else
amongst the trading elite.
Some
blame Libra for the rise in price argumenting that the rise of this hybrid
cryptocurrency is a positive step towards a total digitalization of asset and
securities transactions. Libra is to be supported by financial institutions, most of them government-backed.
This worries authorities such as the US House of Representatives which called
for a hearing on Facebook’s Libra this coming July.
Libra’s
appearance may have appealed to those who were curious about BTC but needed a
push. Facebook’s token can bring a sense of “legal authentication” or that of a
“secure investment” to potential consumers.
Add
the continuous growth in value BTC has achieved this year and the numbers
involved. Analysts are bold enough to predict that Bitcoin’s price could hit $
21,000 during the next Bull Run. According to Naeem Aslam’s predictions Bitcoin
already hit $10,000 as he forecasted on June 17. He remarks that in the last
two months there is a huge spike in price for BTC and gold, which he attributes to a lack of confidence
in the stock market along with the ongoing U.S.–China trade war.
Technology,
economy, trading, security, usability and the common Joe without a bank account
will determine the future of both coins. Make your own resolutions and invest
where you see a good opportunity, this is the time when you say: Go with your
guts!
Genesis Exchange and Wallet App by
Genesis Blockchain Technologies (GBT)
@GenesisBlockch
GBT is
a powerful cryptocurrency centralized / decentralized exchange which will
include a broad range of services and benefits from cryptocurrency and
blockchain markets development, while avoiding complications and risks arising
from crytocurrency ownership, transfer, and exchange.You can Download
the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
For more information on the Genesis
Exchange App please refer to:
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