I recently stumbled upon a rather interesting article or better review. The coins of social networks will soon be received by billions of people and the monsters of the crypto market may fall soon. I will be glad to hear your thoughts on this subject.
I don’t understand the question unfortunately. Will Libra and Gram what now?
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Governments will step in and regulate, heavily. They, the social networks, are already being called monopolies, and scrutinized because of privacy issues. And that’s without taking into account cryptocurrencies and banking and money services, which I imagine is on the horizon for these companies.
Sorry for that. Fixed.
Aha. There you go. Thank you for the edit. And to answer, I don’t know. Too early to tell. However, I did find this.
Libra is not really a crypto-currency but rather a Facebook wanna be currency. It is highly centralized (as opposed to decentralized, which should be the goal for a true crypto-currency).
Libra’s tech, apparently, is not that impressive neither. In short, all Libra has going for it is the huge Facebook potential customer base. But if we think about it, what is the point of having a huge customer base if the tech can not even manage to handle a sizeable / scalable solid number of transactions per minute?
A large customer base alone does not guarantee the success of a tech project, let’s not forget about the recent fiasco of Google +1.
Use case wise, what is really the point of a Facebook coin? There is no need for it whatsoever. All the current transactions within FB can be easily accomplished via Paypal or Credit Cards in a very fast manner, without any need for a crypto-currency.
On top of all that, Libra is being heavily regulated, which will probably limit its (already quite limited) capabilities a lot.
Will Libra go far? It is very hard to predict the future but if Libra ever makes it, it will certainly have to overcome a very rocky start.
My own bet is on the 3rd generation crypto-currencies. I have my eyes set on Cardano (ADA).
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Cardano is also not bad. But I nevertheless bet on Telegram.
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We all have our favorite horses to bet on. Some of them should win, at some point:)
From the latest developments, there is a strong chance Libra will never even exist, as regulations might block it completely. The future will tell…
I am trying to have positive perspective to Libra. I think that it might only have positive implication on future development of crypto market. Certainly, nobody can be sure what actual market implications will be, but it will help many people to become familiar with concept of crypto currencies
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Not bad at all, but development has been EXTREMELY SLOW…Things should begin rocking with Cardano this next December (2019) with the delivery of the Shelley upgrade (and staking capability), assuming they actually fulfill their delivery promises in time this once.
Breaking! The development of the core TON technology is almost completed, according to sources close to Telegram. The release should be rolled out by 1 September 2019. It will include the code of a node and the network validation module.
The TON team is finalizing the documentation for these instruments. This will be the final release before the launch of the main network. The main network will go live after public tests.
Source - @tonboard at Telegram
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It seems to be moving fast. Good to know. Very informative.
Will it offer staking as well?
I really can’t see Bitcoin being overthrown anytime soon, specially by Facebook.
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I totally agree with you. The key word here being “anytime soon”.
Bitcoin dominance is 68.4 % right now. It seems impossible to overthrow.
Bitcoin is widespread, a very strong and well known brand and fully decentralized, which is important as the worldwide governments would have an incredibly hard time to shut down Bitcoin should they turn against it (like they did against Libra). We are also fairly certain that there is not a single entity/company that will ruin Bitcoin as it doesn’t really belong to anyone in particular, but to us all.
Also, right now, Bitcoin is the only crypto currency that is actually needed for something: It is used daily to purchase and sell all other alts.
Since its max supply of BTC 21M is relatively small, Its price can only go up in time, reinforcing its value and appeal to investors.
In short, Bitcoin has a lot going for it. The main concern I have about Bitcoin is its relatively “old technology” being replaced by a more modern one that would produce faster transactions, lower fees and offer increased programming capabilities.
Bitcoin could actually be replaced by a much more efficient crypto-currency. Those crypto-currencies are not a vague futuristic dream, they actually already exist.
Will Bitcoin ever be replaced by a more efficient token? Maybe not and it will keep its status of top notch coin and store of value forever, a digital equivalent of gold.
However, we do need to consider there is a very strong possibility that a more modern and capable coin will replace Bitcoin as the market cap leader in the future. It makes a lot of sense to move from a slower, more expensive and limited technology to a much faster, cheaper, more powerful and modern one.
Old technologies usually thrive until they are replaced by better ones. Examples are all around: Electricity vs candles, cars vs horses, digital photography vs analogical photography (where is Kodak today?), etc, etc, etc…
Will it ever happen with Bitcoin? It is very difficult to be sure, as it will depend on a lot of events that have not even been produced yet.
If Bitcoin is ever replaced as N1 by a much more capable crypto coin, it will never be in the next couple of years. It might take somewhere between 5 and 15 years for it to happen, and that doesn’t mean Bitcoin will ever lose its role as store of value (digital gold), it will still be very valuable just not the N1 undisputed coin anymore.
Who knows for certain what the future will bring? It is certainly fun to think about it.
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I hope that they will release it in time. Great news
My thoughts exactly!
It all fits together! Telegram launches test net, Blackmoon launches the exchange. So the rumors were true!! Telegram will definitely be listed on Blackmoon among the first exchanges.
Is anyone here still holding their BMC besides me? I have a questions about their contributors program. I will appreciate your cooperation. Thank you.
I dont think so. Even if Libra and gram would have more acceptance, they dont really comply with the main motive of Cryptos, Decentralization. Libra and Gram are governed by Organizations, which would be using these currencies to steer capital toward themselves. Isnt this what the current financial system is doing?
People want power, they want decentralization. Values of Bitcoin and Ethereum are inevitable.
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I haven’t heard of Gram in ages and Libra, which was named to Diem some time ago, doesn’t even exist anymore. Not even as a project. According to a new report, the Diem Association (once know as Libra Association, I think) is in talk with investment banks to sell off its assets. Libra, or Diem, is over.
Meanwhile Bitcoin remains the most popular crypto in the world.
That’s a big NOPE from me!