Is this a hint that BAC is looking at crypto as not a competition but rather both ecosystems can exist together? Your thoughts.
The banking sector is always looking for ways where they can cut cost, enhance profitability and just ride any innovation that can ensure that banks survive into the future. I am predicting that banks will be adopting to what they feel to be legitimate and viable technologies around. Now, does it mean they gonna adopt the cryptocurrency movement? Probably yes, but not quite aligned with the way we think they will. What I mean is that banks can also introduce their own cryptocurrency if they want and I think there is now a consortium of banks experimenting with this...all of these developments are of course pointing to the cashless society which is now partly happening. |
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There are a lot of crypto-related developments in Asia and even in China where the government banned bitcoin but we know that there is a strong underground movement supporting cryptocurrency. Japan is the leader and we also have Hong Kong, South Korea, Singapore. We should also not forget to mention countries like Thailand, Vietnam, the Philippines and even Malaysia. I am sure that there is a bright future awaiting for the cryptocurrency industry in the whole of Asia and soon we can see that many governments will have no choice but to allow a regulated environment where everybody should be allowed to play fairly and squarely.
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All I am wishing for this whole drama is that the bitcoin which UK-based Control-Finance Ltd defrauded from their victims can be recovered and be returned to the rightful owners and not just be confiscated by the government. There are strict laws on scams and agencies of the government have to act accordingly in order to protect the interest of the people. This case should be pursued to its successful completion so as to teach a big message to everyone never to concoct any similar evil scheme. There is no place for scams in the cryptocurrency industry and we should be helping kick scammers out of the community wherever we are in the world. Scams are actually the ones making the image of bitcoin and the whole cryptocurrency tainted.
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Technical innovations such as Lighting Network and SegWit are easing network congestion, particularly in terms of scalability and reduced transaction fees.
The infrastructure allowing for micropayments that will not add more congestion to the bitcoin network can be so critical in making bitcoin a real currency that people anywhere can use to buy anything anytime. While bitcoin is more of a store of value, the main vision for bitcoin is to make it a peer-to-peer electronic cash and now as it is evolving there are now ways for people to do so and for merchants to adopt the bitcoin ecosystem. The only remaining hindrance (though many also take it as an advantage actually) is the volatility of bitcoin which enticed many people to continue on speculate and hold and not using their bitcoin...but a time will come when this too can be changing. Let the evolution of bitcoin continue for the benefits of the people who are continually believing on its current use and future potential. |
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This and more similar incident are many big reasons why there must be a strong regulation on the cryptocurrency exchange industry...maybe even stricter than those implemented with stocks, forex, derivatives and similar investment vehicles. What I am concerned is the welfare of the people who laid their trust and confidence to the platform. We can never continue like this if we wanted respect from investors and ordinary guys who are involved with cryptocurrency. Solutions have to be drawn to avoid or at least minimize the chance for another QuadrigaCX fiasco which put a big dagger at the very heart and center of this industry.
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I am expecting bitcoin to finally get over the $10,000 range within the month of July as profit-taking can always occur when it reaches more than $9,000 within this month. Anyway, bitcoin can be unpredictable especially if it is hiding some energy within its sleeves. Things are getting exciting with bitcoin and I am sure that this can attract more players at this level. The whole marketplace can already feel the vibe and it is just a matter of time before bitcoin can make a big breakthrough.
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The combination of Artificial Intelligence and the blockchain technology can be the big game-changer in many industries and can influence and produce many new human innovations. Just like many believers, I am also excited for the potential of these technologies and though we should always be cautious with any man-made inventions, I am sure the benefits can outweigh any possible risks. Right now, AI is now being utilized in forex and cryptocurrency trading though nothing is perfect yet developments are pushing the evolution on these areas. Now, it would be good to discuss what are the possible "deadly" risks here...
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This is just another legislative inquiry and after the worries and concerns of "some" members of Congress are satisfactorily answered Libracoin can go on to fly into the sky roaring. There will be compromises, of course, as customary with the government. It is in fact good for the project to get the attention of those in the government when it is just starting so that a give and take exchange can be established at this early rather than have it when the project is already in full swing.
Mark and company should be worrying and concerned more if it will be the White House that will pull the strings on them. The whole cryptocurrency community should not be worrying on Libracoin as this is not going to be the main competitor of bitcoin -- yes, it is on a much lower and different level compared to bitcoin. But things depend so much on the rate of adoption.
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There is a big media buzz (both mainstream and crypto-focused) on Libracoin and this is exactly what the team behind the project all wanted. Hopefully, they are hoping the popularity can be converted into adoption soon when the doors of Libra will finally open for public viewing and ownership. This alone is the big difference since bitcoin started like a seed of an acorn and there was no media blitz when it debuted to the world...in fact I would say that there were more pessimism on bitcoin than what Libra is getting now.
Of course, we know that many are accusing Libracoin to be centralized or basically that it is going to be controlled by Mark and his minions but how the final structure and the product will play that remains to be seen. Bitcoin will remains to be the king of the world of cryptocurrency and maybe perhaps he needs a queen with different traits and characters and that can be played by Libracoin.
I can see that Libracoin can be stablecoin as it is going to be backed by real and valuable assets unlike bitcoin which is truly what cryptocurrency is symbolizing. Well, the marketplace has big rooms for newcomers and with Libracoin having the backing of many and famous names in different industries I don't see why it can fail.
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Litecoin Halving is the biggest thing about LTC, not some random debit card.
Yup, Certainly that is the most important reason for the recent growth of LTC. Plus the well-prepared preparations from the LTC team, by injecting in valuable pool bonuses for holders and traders (Huobi). Perhaps that is a big premise for an upcoming launch of Halving. And hopefully we will see BTC at over 10k and LTC at $ 250 in August. That is interesting. I am actually planning to buy some Litecoin and hopefully hold until after the halving. Now, may I know. Do you think LTC can hold on to the momentum even after the halving is done? Or will there be an avalanche of sellers once it is finished? Let's just speculate here... |
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I am not a big fan and user of the Mozilla Firefox though I used to be years ago. I am more into Chrome and now also into Brave which is just using the Chrome open-source platform. This is quite alarming and good thing that the problem is now fully traced and hopefully already fixed as I am sure that many people into cryptocurrency are also using Firefox. This is just one of the many risks that those in the cryptocurrency industry are facing every day.
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This is just another normal oversight and they gonna conduct hearings for the sake of getting enlightened by the Libra people on many areas of concerns...afterwards nothing will happen. They know that Facebook is and will always be for coming years the most influential social media group and though there are some lawmakers who can opt to break Facebook nothing concrete has been decided. Eventually, there can be some changes on the Libra project as a result of lawmakers' inquiry but it does not mean that this is gonna be the end of the project. There is no visible angst or worry from massive members of the country about it...am sure that in between the government and Facebook many will choose Facebook and will thrash the government.
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Seems that more and more people are getting excited with this latest baby of the people behind Facebook. I also understand that just like a big project, there will be people who are making noises pointing the flaws and problems of the project, which is I guess just part of the dynamism that Libra is bringing to the marketplace.
Will this be a game-changer? YES and NO. Yes, it can be a big changer within the very ecosystem already established by Facebook conglomerate as it would mean smooth way to transact business to the social sites controlled by Facebook and members of those sites can do business efficiently and with a good speed which the market has been demanding. Now, this established Facebook network is the main star of the show as without it then Libra can just be another dead star in the heavens.
Now, will this be the game-changer that the whole cryptocurrency is waiting for? I would say NO. Considering the criticisms it is receiving right now, maybe it can take time for the whole industry and its established leaders and influencers to accept Libra. Just like how some people are viewing Mark Z. with distrust and skeptics, Libra is seen on the same way in some cryptocurrency circles.
In other words, let's all wait and see what can be. Only time can tell how Libra will eventually fare in the flow of things in the cryptocurrency market.
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The idea that Libra will be replacing or is meant to replace bitcoin is far from the truth. I think that should have been clear by now after the Libra people released some information. Libra is primarily meant to be the cryptocurrency and platform that will work with the social media sites controlled by Facebook and maybe if the market is responding well also with remittance or transferring money and payments. The captured market for Libra is quite big and if done well they can thrive and prosper within this market.
Just come to think about it...how come a stablecoin like Libra replace bitcoin? They are two different platforms and comparing the two is a big religious sacrilege. The cryptocurrency market is expanding...heck we have so many projects being introduced even as we speak via the popular IEO crowdfunding...it means there will always be room for expansion. And Libra being one of the new projects has nothing to worry about what others might say in the cryptocurrency industry because it is certain of its market...in the same way that Mark Zuckerberg never cared what others might say when he started Facebook.
At the end of the day, it is the marketplace that will determine which will win and which will lose but this time around to assume that one will die in between the two (Libra and bitcoin) seems preposterous to say the least.
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