A crucial year ahead for cryptocurrencies, from the Economist - 27 Jan 2020[/url]
This is a good article from the Economist - each of you should read it.
What concerns me though, is that as we stand on the edge of global acceptance of cryptocurrencies we risk the definition of cryptocurrency being violated by the corporate or government sponsorship needed to drive that global acceptance.
This article highlights, Libra, Facebook's cryptocurrency. To their credit, The Economist is referring to it as a "digital currency"...which is helpful, but i fear the public will forever confuse the difference. Lybra isn't a decentralized currency built on the blockchain. It's an investment vehicle, backed by a "basket of other currencies" traded over the blockchain (maybe?) but more specifically traded over the US stock markets.
I will always be a huge fan of evolution and innovation in the crypto space, i just want to make sure that these innovations don't cast a shadow within which all original cryptocurrencies are forced to live.
How can we support and fight this sentiment?
Of course centralized altcoins are garbage, and can be made to submit to whatever goverments wish. Bitcoin is immune to that, it doesn't need no one's approval, it simply is, and exists.
Libra seems like it will never exist unless Zuckerberg moves it out of the country and hopefully the receiving country doesn't kill it. His business model probably depends on America so unless he can make the politicians bend, its probably worthless to him too.
Libra and Bitcoin are on opposite poles, Libra represents everything that is done wrong and by itself its showing the world why. I cannot even be born.
You see Bitcoin doesn't care if the politicians approve it, therefore is more valuable.