Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Crypto_Somrat on October 16, 2020, 07:39:38 PM
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Bitcoin’s white paper was originally released in 2008, with the first Bitcoin being mined in 2009. Today you can buy, sell, and trade Bitcoin on a variety of different exchanges and with millions of individuals privately, all over the world.
Facebook released the white paper for its Libra cryptocurrency in 2019 but has yet to release the currency itself or the network to back it. It has projected that Libra will become available in 2020, though it has received substantial pushback from lawmakers and organizations.
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Zuckerberg wanted to create a too ambitious project and this logically frightened the world's governments and their regulators. It will be very interesting if they, following the example of the Chinese government, prohibit the use of their national currencies as collateral for other private and various kinds of commercial stablecoins. This will lead to the fact that only the stablecoins of the central banks of the states and their regional stablecoins can remain in the market. In this case, Libra may not appear at all.
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In order to somehow compare these cryptocurrencies with each other, Libra needs to be released first. After all, the conditions for its release and characteristics are constantly changing. So far, one thing is clear: Libra will no longer play the big role that was originally prepared for it. Nor could it have had a significant impact on Bitcoin. Libra is one of the many stablecoins, albeit a bit special. With the emergence of numerous central bank stablecoins such as the digitized yuan, such stablecoins will lose their value. Especially if, following the example of the Chinese government, they prohibit others from using their currencies as collateral for other stablecoins.
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The history of Bitcoin is very difficult to weaken or remove because no single pure Bitcoin has created the alias Anonym.
Then came LIBRA again, which was so famous for the hype from Facebook and the hype was not accompanied by real work.
Until now there is only a white paper from LIBRA and the project just dies.
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For a long time, news about the Libra project has mainly consisted of the appointment and dismissal of persons related to the team of this project. We see no practical activity in preparation for the release of this stablecoin. This project is now more dead than alive. Earlier, the finance ministers of the countries of the European Union strongly stated that they would not allow Libra to travel on their territory. There was no further information about changing this position. Without the European market, this stablecoin would not be full of value in circulation.
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Bitcoin price is high so much this time and the Libra coin still not launched and the BTC run the amrket so this is not possible that the Libra coin will cross the price of the BTC.
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Libra may hit the scene in January 2021, albeit in a limited way.Approval pending from Swiss financial regulatory agency FINMA for LibraFacebook was planning to pin this fixedcoin to several different fiat currencies. I think they gave up on that.Libra will actually enter the market strongly.
Why, if you say?It is being developed together by 27 different partners. Among them are giants such as Uber, Spotify, Andreessen Horowitz.
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have there been no developments about this coin? 2020 will end but no news about Libra Coin has been heard yet
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Really !
You're absolutely right and you should feel the deepest frustration of developing LIBRA, right?
Facebook Libra is so strong for the news that it broadcasts but the result is zero big without a single drop of content.
Bitcoin has no news and only a handful of people know but has more content than LIBRA.
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have there been no developments about this coin? 2020 will end but no news about Libra Coin has been heard yet
Back on December 1st, it was announced that there would be no Libra coin and in January a Diem stablecoin should be issued instead, backed only by the dollar. This coin is registered in Switzerland and it is planned that by this time its authorities will issue all the necessary permits for this. Let's see how Diem will be connected with Facebook, because Zuckerberg promised at a meeting of the US Senate that there would be no relationship between his stablecoin and Facebook.
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Bitcoin’s white paper was originally released in 100% with the first Bitcoin being mined in 100%. Today you can buy, sell, and trade Bitcoin on a variety of different exchanges and with millions of individuals privately, all over the world.