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1  Bitcoin / Bitcoin Discussion / More Debt, Buy Bitcoin on: November 03, 2019, 12:51:40 AM

The whole world is saddled with gargantuan debt. Countries right now are using debt facility to cover up their inefficiencies and inability to meet their financial needs due to rising number of programs yet decreasing stream of revenues. Aside from the printing of money, borrowing money from anywhere has become the accepted norm. The more money they can hoard from many sources inside and outside their country, the better they feel secured and safe.

But is debt a very secured thing to enter into? Debt can be a big trap and many countries are now starting to feel the heat...soon this on and off heat can be transforming into a fire and an explosion that can engulf not their own country's economy but also can be spreading to neighboring countries as well, just like what we witnessed in the 2008-2009 USA recession.

In the USA alone, national debt is now over $23 trillion, according to website U.S Debt Clock. The milestone has been pointed out on Nov. 1 by Bitcoin advocate Twitter personality Rhythm, who also said that every dollar of U.S. national debt is, in fact, a reason to buy Bitcoin (BTC). Another user presented another interesting take adding: “That’s more than $1,000,000 debt per 1 Bitcoin.”

Indeed, we will soon witness this whole thing explodes right before our eyes. And with this as the backdrop, we should be looking at cryptocurrency seriously as one of the many possible ways we can be protected.
2  Bitcoin / Press / [2019-10-26] Forget China—Is This The Real Reason Bitcoin Bounced? on: October 26, 2019, 04:28:03 AM

The bitcoin price is now at over $9,000 per bitcoin after dropping to lows of almost $7,000 on Thursday–and heading fast towards the psychological $10,000 mark, according to the latest prices from Luxembourg-based exchange Bitstamp.

Many bitcoin and cryptocurrency market analysts pointed to comments made by China's president President Xi Jinping that the country should "seize the opportunity" of bitcoin's blockchain technology as the reason behind bitcoin's rally.

Xi's comments, which referred only to blockchain technology and not to bitcoin and cryptocurrencies, might not have been the driver behind bitcoin's recovery. When the bitcoin price recovered a couple of hundred dollars per bitcoin in just a few minutes, some $150 million worth of short positions on the Seychelles-based BitMEX crypto exchange were liquidated.

This triggered what's known as a "short squeeze," where an asset rapidly increases in value due to short sellers trying to cover their positions, resulting in buying volume that drives the price up.

More of this news here...

While maybe the comment by the supreme leader of China did contribute something to the increased demand of Bitcoin, attributing this flash rise to him can make Bitcoin really in a weak position because we know that they guy was not talking about Bitcoin but the blockchain technology which has long been adopted, modified and exploited by China for years. In fact, soon China can be the blockchain capital of the world but still not a chance that Bitcoin can recognized and be openly traded in that big country and market.

Something else must be trigger and now we know how it came about. Are you in agreement with the article above or maybe you have your own and contrary idea and opinion?

3  Economy / Speculation / BTC Plunging to $6K before Big Recovery on: October 25, 2019, 04:30:40 AM

Joel Birch, founder of an investment platform for retail investors, Lunar, reckons that under $8,000 per BTC is a good price for purchasing. “I can’t tell you if bitcoin is going to hit $3,000 or $4,000 or $6,000, but I can tell you, to me it doesn’t matter because I believe that any price below $8,000 is good.”

However, Birch does believe that Bitcoin price is likely to plunge further down to $6,000 before soaring ahead of the upcoming halving in May 2020. Joel Birch is the founder of Lunar and a partner at Lunar Capital which manages digital currency portfolios for investors.

More of this here...

Many analysts are now saying that soon Bitcoin will be breaching the $6000 territory before the coin will have the chance for a remarkable recovery due to the coming halving next year. I don't want to believe that $6000 can be possible but I think this is now the consensus of many people so there is a big possibility for this to happen soon.

I understand that there are now many waiting orders in the $6000 range making this level a very good opportunity to enter Bitcoin again and add more coins. Will you wait until Bitcoin touches $6000+ before making any move? Should we consider $6000 as the bottom of this ongoing dip?
4  Bitcoin / Legal / Crypto Capital President Arrested For Money Laundering Operation on: October 25, 2019, 02:09:52 AM

Crypto Capital President Ivan Manuel Molina Lee was arrested by Polish authorities, accused of being part of an international drug cartel and involved in its money-laundering operations using Bitfinex.

Crypto Capital was a company with which Bitfinex allegedly entrusted $850 million, money the exchange said it was unable to access later. To cover the loss, the exchange conducted a $1 billion token sale in May.

...the Polish Ministry of Justice had seized bank accounts in name of Crypto SP. Z O.O. The seized funds, which amount to $350 million, reportedly belonged to Crypto SP. Z O.O. and NESP SP. Z O.O., two companies likely affiliated with Crypto Capital and Molina Lee, according to several financial documents. The seizure was a part of an anti-money laundering operation conducted by the Polish authority.

Read more of this development here...

The time has come to weed out the illegal operations conducted by this organization as this is a disgrace to the whole cryptocurrency industry. The message here is so clear: There is no place for a business like Crypto Capital in this industry and this should be serving a big warning to anyone doing the same thing or planning to do the same maneuvering.  Let's hope that Bitfinex and pother similar victims can be able to recover some funds they lost to this scumbag Crypto Capital.

5  Economy / Speculation / [2019-10-24] Bitcoin Price Crashed Today: 2 Reasons on: October 24, 2019, 04:05:49 AM

Why Bitcoin price crashed today? The moment most traders feared is upon us, Bitcoin price plummeted below $7,500 per coin. There are speculations that the bleeding may not stop anytime soon. It is expected that whales and daily traders will play wait-and-see and push the crypto market further down.

Let’s explore a few reasons why BTC price suddenly plunged.

1. Mark Zuckerberg grilled by Congress in Washington
2. Did Google Quantum computer results spooked investors?

Read more here...

This can be the "October Pest" we have been fearing to happen to Bitcoin. Instead of some celebration in line with the October Fest traditionally used as an excuse to drink a drum of beer, we are facing the probability of Bitcoin going lower further. To many, Bitcoin just fall out of flavor for now and they are waiting when it can get into the bottom of things so they can plan their entrance again, eyeing some more profits at the end.

I do not, however, agree with the two big reasons cited by this article as the possible reasons for the crash. These two reasons have been there already and I am sure already factored in with the price of Bitcoin weeks ago. What can be clear for me is that there is no solid grounds why this sudden "crash" is happening and this is not shocking as Bitcoin can move south or north for no reason at all...or at least not that visible for now.

We can convert this "October Pest" into an opportunity, however, just like turning lemons into lemonade. Cheers to that!

6  Economy / Speculation / "BTC Flash Crash Caused By Drop In Network Velocity" on: October 24, 2019, 03:03:21 AM

BTC slid from above $8,200 at the start of the day, down to $7,769.90, after hovering above the $8,000 range for a few hours. The Wednesday flash crash has worsened the decline, with BTC price pushing down to $7,540 as of 2:35 GMT.

This extends the loss of BTC to 8.70% on a daily basis, a significant downturn as the leading coin rarely made moves at above 5% per day. For BTC, this is one of the most dramatic price moves since September 23, when the launch of the Bakkt exchange coincided with a crash from the $10,000 tier down to $8,000, where prices stabilized for a while.

The most recent flash crash followed a period of slowing transactions and value transfers. The price loss was a result of lowered network velocity, believes Byte Tree CEO, James Bennet.

Read more here...

Many people were shocked and so concerned with the sudden dip of bitcoin because we were then assuming that it would go north, eventually the direction taken by Bitcoin was going south or down. The simple fact is that demand for Bitcoin dropped, clobbered by USDT which accounted more than 35% of all activities against that of Bitcoin which is just 29%.

Now, I am wondering what can be causes of this dampening of demand for Bitcoin? Can this be a big symptom that we can be going back to the $5000 which a level I really fear?

7  Bitcoin / Press / [2019-10-23] Winklevoss: Bitcoin Is ‘Source of Truth’ on: October 23, 2019, 03:39:07 PM

Cameron Winklevoss — one half of the eponymous family office Winklevoss Capital and co-founder of the Gemini crypto exchange — says Bitcoin’s (BTC) possibilities go beyond digital gold.

“Because Bitcoin is open source software, its possibilities are boundless. I often talk about gold as a target market cap, but that's really just the's digital gold, source of truth, etc…”

Cameron’s argument aims at going beyond the commonplace analogy of Bitcoin with gold, whose proponents compare the scarcity of the precious metal with Bitcoin’s finite supply to emphasize the cryptocurrency’s role as a digital store of value.

While accepting this perspective, his accent lies on the revolutionary potential of the cryptocurrency’s open-source software, which establishes a decentralized digital public record of transactions that is immutable, secure and anonymous: a shared, single source of truth.

In information systems, a Source of Truth (SOT) is a term used to denote a trusted data source that gives a complete picture of the data object as a whole.

Read here from the source...

So we are not talking about Bitcoin's scarcity but also its integrity. The article above is talking about the "roughly 1,000 fake gold kilogram bars were found in the vaults of major banks such as JPMorgan Chase..." which is not astounding to me but considering that we are talking about a big and reputable institution like that then this can really be raising many eyebrows higher.

With Bitcoin, it would be so hard (or maybe impossible) to make a fake one and have it circulated and be accepted as genuine. Maybe the best reason why CW is using all the opportunities he can to hammer the message that BSV is the genuine article.

With Bitcoin, we are standing with the truth, the whole truth and nothing but the truth. May the source be with us...

8  Bitcoin / Press / [2019-10-23] New Bitcoin ETF Proposal Filed by Gold Fund Veteran on: October 23, 2019, 01:37:18 PM

Delaware-based asset manager Kryptoin Investment Advisors applied with the United States Securities and Exchange Commission (SEC) to launch a Bitcoin (BTC) Exchange Traded Fund (ETF) on Oct. 15.

The company plans to hold Bitcoin and value the shares of the trust according to the Chicago Mercantile Exchange Bitcoin Reference Rate. The cryptocurrency will be held at an unspecified third-party insured custodian that is also regulated under the Investment Advisers Act of 1940.

The SEC filing also details that the Trust will hold Bitcoin “in seeking to ensure that the price of the Trust’s shares is reflective of the actual bitcoin market.” However, the Trust will not purchase or sell bitcoin directly but will acquire it via shares called “baskets.”

Read more of this news here...

Of course, winner never quits and quitter never wins. After many rounds of rejections of ETF applications suffered by different proponents, here comes another entry and this time around by the Kryptoin Investment Advisors and is going to be called Kryptoin Bitcoin ETF Trust. The strategy here has become throw all the gel you've got and soon one will eventually stick on the wall.

But are we really that excited of the prospect of this getting approved or has this become just another routine and a boring one? And in the first place, do we really need an ETF?

9  Economy / Speculation / Bitcoin is going at $7,654.85 on: October 23, 2019, 01:11:32 PM

I am not actually expecting this because I was thinking that if Bitcoin can go higher than #8,300 then it will be moving sideways in the next few days. Today, Bitcoin plummeted to lower than its support level and is standing at $7,654.85 per CoinMarketCap figures. The whole cryptocurrency market is on the decline and is painted with red juice color.

Where is the next direction of Bitcoin is everybody's guess but I am a firm and strong believer with this coin that I am predicting that it can in hours be heading south. I am still inclined to believe in many analysts' prediction of it to soon breakout the $8800 zone.

Am I just over optimistic and blinded by things happening the market today?
10  Bitcoin / Press / [2019-10-22] Bitcoin Sidechains To Send Altcoins Prices to ZERO? on: October 22, 2019, 04:13:58 PM

Tomorrow (a few hours from now), it will have been exactly five years since the original white paper on Bitcoin sidechains (PDF) was released. The basic idea explained in the paper was that Bitcoin users would be allowed to move their coins between multiple, completely different blockchains that could enable a wide range of new cryptocurrency features.

The end result of this functionality would theoretically be an end to the many altcoins that existed on the market at the time, as there would no longer be a legitimate reason to create a new cryptocurrency in an effort to experiment with new features. Instead, new features that were sufficiently complex could come to Bitcoin by way of sidechains.

Today, sidechains do exist, but they come with trade-offs in the areas of centralization and censorship resistance – at least for now. At the recent Transylvania Crypto Conference, a panel of experts on the topic, including Blockstream CEO and sidechains white paper co-author Adam Back, discussed the current state and future potential of sidechains for Bitcoin.

The source is here for more reading...

The claim is that Bitcoin Sidechains can eventually make all altcoins lose value and purpose as this functionally can easily adopt all the features that altcoins may have rendering them, in essence, very worthless and inutile. " features that were sufficiently complex could come to Bitcoin by way of sidechains."

Now, whether this claim can happen or not depends a lot if Sidechains can be implemented soon and if the market will be reacting in the way it is expected.

Do you think that Sidechains has this potential or maybe the guys behind this proposition is just imagining things? Please share here what you may know about this Sidechains...

11  Alternate cryptocurrencies / Altcoin Discussion / Banks May Cut Tie with Facebook if Libra is Launched on: October 22, 2019, 01:41:23 PM

Banks may be bound to stop working with social media giant Facebook if the firm launches its Libra stablecoin, according to ING CEO Ralph Hamers. Bank can choose to “not accept the client”

Financial news outlet Financial Times reported on Hamers’ remarks on Oct. 22. Per the report, he explained that institutions like ING have to guard the financial system to prevent criminal activity. Because of this, concerns over Libra’s potential for illegal use may result in a response from the banks:

“We can take measures and exit the client, or not accept the client, so those are discussions you would have to have.” The money laundering concerns are spurred by the fear that Libra may allow criminals to quickly move funds across national borders without any oversight. more here...

Actually this is just a concern of one bank and may not necessarily reflects that of the other nor can be the stand of the whole banking industry in regard to Facebook's Libra. However, this sentiment can spread to other big banks and Facebook can have a little problem here. Now, I am thinking will this concern not lead to Mark Zuckerberg create his own real bank discreetly? The idea must be preposterous but knowing Mark, who knows...

12  Economy / Speculation / Bitcoin’s Rise Neutralizes Bearish Mood on: October 22, 2019, 12:15:47 PM


Bitcoin’s price bounce has shed some of the recent bearish pressure, but there’s still a way to go before a bullish reversal is confirmed. After hitting $8,314 on Sunday, the top cryptocurrency by market value is now trading around $8,200 on Bitstamp, representing a 3 percent gain on a 24-hour basis.

BTC was operating on slippery grounds last week with the Chaikin money flow index, used to gauge buying and selling pressure, reporting the strongest bearish bias in eight months. The downside, however, was restricted near $7,800 on Friday and prices bounced back above $8,000 over the weekend.

Read more of this here...

I was actually nervous for the past two days as I was watching Bitcoin teetering towards the $7,000 level. Right now, Bitcoin just made a small bounce back reaching the $8300 zone with a possibility for the coin to hold on into the same range for the next few days. However, there remains the danger that it can get back to the fear level zone. In other words, Bitcoin is not out of the woods, yet.

Are you also one of the many hoping for a bullish rally ahead by Bitcoin? Would you recommend for others to enter Bitcoin right now?

13  Alternate cryptocurrencies / Altcoin Discussion / Jamie Dimon On Libra: ‘A Neat Idea That Will Never Happen’ on: October 19, 2019, 02:51:45 AM

Essentially, this is a matter of JPM Coin vs. Libra because while the man doused some ice-cold water on the Libra project he at the same time promoted his own firm's native coin. He must be a marketing "genius"...getting free promotions for his own "cryptocurrency" by just commenting on something. Okay, I am just kidding on that genius comment.


JPMorgan Chase CEO Jamie Dimon has said that Facebook’s not-yet-released Libra stablecoin is “a neat idea that will never happen.” Dimon delivered his comments during a speech at the Institute of International Finance conference on Friday, BNN Bloomberg reported on Oct. 18. Dimon said that the idea behind Libra is not unique and further turned the conversation to his company’s own stablecoin, JPM Coin, revealing that JPMorgan is spending over $11 billion on technological developments this year.

Dimon thus cemented his previous statements about Facebook’s coin, when he claimed that Libra does not pose a threat in the foreseeable future. Dimon specified at the time that “to put it in perspective, we have been talking about blockchain for seven years and very little has happened. We are going to be talking about Libra three years from now.

Read more of this topic here...

I guess we have to accept that sooner or later we can experience a big avalanche of may forms, sizes and types of centralized cryptocurrencies. Are you then convinced that JPM Coin is a lot better than Libra or are they just two birds of the same feather and flocking (even laughing) together?

14  Alternate cryptocurrencies / Altcoin Discussion / Libra Just Got Its First Major Supporter in Congress on: October 18, 2019, 06:41:54 AM

And this good news for Facebook's Libra even if there is only one showing up with the party. Mark Zuckerberg is hoping that an avalanche of support from legislators can suddenly and magically appear right before his eyes...


Amid a sea of scorn, one U.S. Senator is praising Libra.Sen. Mike Rounds (R-S.D.) wrote a letter to Libra Association member Anchorage, a South Dakota-based trust company, endorsing the Facebook-led project and citing it as an example of a technological advance he feels is needed to aid U.S. consumers.

Rounds also pushed back against a more “ominous” letter penned by Senators Brian Schatz (D-Hawaii) and Sherrod Brown (D-Ohio), warning the CEOs of Mastercard, Visa and Stripe that they may come under increased regulatory scrutiny should they continue participating in Libra. (All three, alongside PayPal, eBay, Mercado Pago and Booking Holdings, later quit the project.)

“Technologies like Libra … have the potential to help unbanked and underbanked consumers right here at home...”

Read more of this here...

Well, its good to see that a good senator is bucking the trend. From time to time, it is also nice to hear a different opinion, conviction and conclusion in relation to the launch and subsequent operation of the Libra coin platform which Mark's minions are hoping can be done as soon as possible. Maybe Mark and Marcus can conduct an information and PR campaign to convince more members of Congress and Senate to allow Libra operate maybe provisionally before they make a conclusion that it can severely affect the traditional systems of the land.

Assuming that you are in the big shoes of Mark Zuckerberg, what are the changes you plan to execute with Libra to make it more digestible and palatable with the angry regulators and legislators?

15  Bitcoin / Press / [2019-10-18] Winklevoss: Buy BTC to Escape Negative Yield Bonds on: October 18, 2019, 03:39:22 AM

Bitcoin (BTC) bull and co-founder of Gemini crypto exchange Cameron Winklevoss has noted that the volume of negative interest bonds accounts for $17 trillion and has urged the public to buy Bitcoin.

Earlier in October, Tone Vays, a veteran trader and Bitcoin expert, expressed a stance similar to Winklevoss’ saying: “As more and more Developed nations try to eliminate cash and implement negative interest rates, this can drive many people into Bitcoin.”

In mid-August, Deutsche Bank reported that 27% of global bonds traded were negative yield at the time, so expected to pay out less than their initial cost. This represented $15 trillion worth of debt, or as VanEck digital asset director, Gabor Gurbacs, commented, that was 75 times the total Bitcoin market cap. “It’s time for Plan ₿!” Gurbacs added.

Read more here...

I am not an expert on "negative interest bonds" so this definition can help us understand: "Bonds have a negative yield when the total amount of interest an investor receives over the life of the bond is less than the premium they paid for it. Investors who purchase bonds with a negative yield and hold them to maturity end up losing money on their investment." In essence, if your investment is classified as a negative interest bond then you are essentially losing money.

Why would anyone invest (or continue holding) in a bond that can make him lose money, in the first place? And in that case, according to Cameron, you should be shifting to Bitcoin and cryptocurrency because, even with its extreme volatility, the yields can be much better. Now, we are hoping many would be listening to this guy as he is surely speaking based on his experience and wisdom as a longtime Bitcoin supporter and billionaire.

Assuming that you are holding "negative interest bonds," will you consider this suggestion pushed by this man?

16  Economy / Economics / Bitcoin: "Maybe Is a Partial Store of Value" on: October 17, 2019, 12:52:51 PM


Economist Nouriel Roubini — also known as “Dr. Doom” for his prediction of the 2007-2008 financial crisis and a notorious critic of cryptocurrencies — has conceded that Bitcoin (BTC) is “a partial store of value.” Roubini made the concession during a panel together with a host of high-profile crypto industry figures such as Brock Pierce, Bobby Lee and Tone Vays — during the CC Forum 2019 conference in London on Oct. 16.

As Tone Vays suggested in a tweet on Oct. 17, Roubini’s admission arguably represents “baby steps” forward in his stance towards cryptocurrencies — notwithstanding the fact that Roubini swiftly followed his comment with a suite of criticisms:

“Maybe Bitcoin is a partial store of value but it’s not a unit of account, it’s not a means of payment, it’s not scalable [...] in spite of its rally earlier this year, it’s lost 60% in value since it’s peak, so I don’t see it going anywhere frankly.”

Read more here...

This is a little bit funny. While admitting that Bitcoin can be a store of value -- at least partially -- Mr Roubini remains adamant on his old position against Bitcoin, in other words nothing has changed despite his admission which can just be influenced by people he was with in that conference. Well, as they are saying, there will always be two sides to the coin and in any human innovations there will be people whose role is to warn of possible impeding doom if we continue the change we are into. I have a great respect for this man because he is actually making some sense in many areas and I think we should also give space for people like him as their inputs can still be useful. However, don't get me wrong, it does not mean we have to follow what he is saying.

So is it really partial or full?

17  Economy / Economics / Bitcoin: People Empowerment on: October 17, 2019, 03:37:11 AM


Before the advent of cryptocurrency, all financial transactions were facilitated through the world’s central banks. Now, thanks to bitcoin, the scenario is changing, and the power is shifting from the central banks and world governments to the population. This radical change in the handling of monetary transactions can potentially change the entire world’s economic structure. To enable scrutiny and provide security, financial institutions maintain records of every transaction. Now, with cryptocurrencies, the people have a way to challenge the banks’ economic power. If it’s adopted on a global scale, Bitcoin can cause money to become highly politicized.

Taken from this source.

I personally believe that one of the big reasons why we have to be a part of the Bitcoin bandwagon is that this is a tool for people empowerment and that can means we are getting back the power that should have been in our hands long time ago. Now, I am not saying that Bitcoin is the be-all and end-all of all our problems but certainly this can be a start of something revolutionary.

No wonder then that many governments and central banks are uneasy on Bitcoin because they know the possible implications but for some governments who are not lead by myopic leaders and allowing Bitcoin those are the leaders who are recognizing that they are not there in the pedestal for the lifetime.

Aside from volatility, what are the biggest obstacles for Bitcoin to be adopted on a global scale?

18  Economy / Speculation / "Bitcoin: Bearish Mood Strongest Since February" on: October 16, 2019, 03:59:17 PM


Bitcoin is facing strongest selling pressure since February and has potential to drop below recent lows near $7,750.

The top cryptocurrency by market value fell from $8,326 to $8,086 in the 60 minutes to 17:00 UTC on Tuesday, confirming a downside break of the recent trading range of $8,450–$8,250, as expected.

Since then, the cryptocurrency has stabilized around $8,100. Some observers are of the opinion that BTC has carved out a temporary bottom near $7,750 and the drop from levels above $8,300 could be a bear trap.

That argument is logical if we take into account the seller exhaustion signaled by a bullish divergence of the 14-day relative strength index – a widely used technical indicator – confirmed last week.

Read more here...

What many expected the past few days is now happening with Bitcoin. The mood is now bearish and there is a chance that the dip can even go lower. Lacking any positive development that can push the price upwards, the bear is taking over. As i am writing this post, Bitcoin stands at $8,004.22 according to figures supplied by CMC.

However, as always, this can be an opportunity to get in but many are, of course, waiting on the side line figuring our where is the bottom of this movement is.

So take a good guess...where can we find the bottom of this dip before Bitcoin go back running towards the sky?

19  Bitcoin / Bitcoin Discussion / 10 Years From Now: Bitcoin Overtaking PayPal? on: October 15, 2019, 04:17:06 PM

There is no question that bitcoin is evolving and whether it is in the direction that it should be or not that can be subject to some discussions and debates. Soon we may witness bitcoin to be the viable platform leading the way in the global payments industry and possibly diminish the strong leadership of PayPal.

However, this road will not be a walk-in-the-park because for now, is the lack of interest of people who have bitcoin to use their cryptocurrency to pay someone or to pay for products/services. Of course, we know why this is so. The answer is speculation. And speculation is always appealing to our natural greed...that idea that soon bitcoin can go as high as $20,000 so I will do everything possible to hold on to my bitcoin no matter what.

We are all generally greedy and speculative...something that no technology has no cure at all. However, I am still hoping that one day bitcoin will have less volatility and by then can fully play its role as a real currency and hopefully can overtake PayPal...but for now let's just enjoy the roller-coaster ride anyway there is no deadline so why worry or complain.
20  Alternate cryptocurrencies / Altcoin Discussion / Libra unveils official backers, future uncertain on: October 15, 2019, 10:25:08 AM

Facebook has managed to officially sign up 21 organizations to its Libra Association following several high-profile departures from its controversial ‘cryptocurrency’ project.

According to a press release, Andreessen Horowitz, Ribbit Capital, Spotify, Coinbase, Uber Technologies, Vodafone, and Xapo are among those who signed the Libra Association’s charter.

Additionally, the Libra Association also appointed its board of directors and its consortium executive during the same meeting, held in Geneva, Switzerland.

Interestingly, Facebook will continue to play a key part in the project, as David Marcus, Calibra’s CEO and the tech giant’s former blockchain lead, is taking a seat on the five-person board.

Read more here:

One of the hallmarks of successful people is they give up even if they can be facing a very strong opposition from the whole world. Once they believe that what they are doing is right and there is a big future awaiting it or that they are offering something that the world really needs, they  will go for it no matter what the odds are. We have a guy like that in the person of Mark Zuckerberg, thus Facebook's Libra has to go on despite what its critics and detractors wanted to say.

I am not on the side of Mark and his minions nor am I another member of the Libra Association but even for just this one aspect alone he has my admiration. It would be interesting to watch the many developments to unfold right before our eyes in respect to Libra development and its deployment.

Come on Libra, prove your mettle right before my eyes...

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