you can't "fully decentralize" a network where the token is centrally backed with custodied assets. libra is backed by a basket of assets like fiat currencies. what happens if those assets collapse in value? what happens if powerful governments like the USA shut them down or freeze their bank accounts?
not to mention that KYC is required from the get-go for every user. full AML controls. your account can be frozen or transactions reversed because there's only a few dozen validators on a permissioned network. how else do you expect them to comply with the USA nanny state laws? fully decentralized my ass!
not to mention that KYC is required from the get-go for every user. full AML controls. your account can be frozen or transactions reversed because there's only a few dozen validators on a permissioned network. how else do you expect them to comply with the USA nanny state laws? fully decentralized my ass!
I'd give the man a merit if I had any left, Libra is not going to be anywhere close to a proper crypto currency. It'll be of some interest from its basket of currencies and diverse population, it could even have an effect on wider finance. I dont think its going to be that important to crypto exactly, maybe in perceptions.
We seem to be a long way from talking about BTC finding a bottom price, Libra is not the reason for BTC price direction. Surely its not just jumping off headlines.
Quote
Is there is any technical analysis to find?
yea BTC has turned around just here. The most important factor I can see easily is the 50 day moving average, thats around 10,000. We keep that and its a positive development vs recent falls.
I'll name some levels to measure its progress in this recovery by
So the blue line is just 2 day average but the yellow line is the 8 day and I count that as far more indicative of a positive phase to BTC pricing medium term. If we recover $10,800 and confirm above that on a 4hr bar BTC has done well.
On the left of the chart, 11,000 is the previous top and old daily trend now at 11,200 and that would again be another important rung on the ladder to say BTC is stable and likely to keep rising again medium term.