Libra is really making some big waves out there on the global stage.
Have Bitcoin convince tech companies they need to create a cryptocurrency that they have better control of.
Have tech companies convince central banks and governments that they need to create a cryptocurrency that the tech companies don't control.
LOL you're all fucked, Bitcoin wins.
We really are living in amazing times. Do you know how many times organizations throughout the world have tried to create a digital currency that competes with SWIFT only to have it immediately slapped down? Bitcoin has broken that centralized ice and allowed this idea to trickle back into reality.
"Blockchain not Bitcoin" is in full effect, and big players in the global economy are looking to utilize this new technology to their own ends. The goal is to create a product that avoids the regulations of other countries while still being somewhat controllable by the creator.
LOL... good luck.
Who's going to want a product like that?
They're moving backwards.
It's like if the music industry tried to get rid of torrents by creating their own version of Napster. Hm yeah, nobody wants your worthless redundant inferior product. At least torrents were somewhat centralized to specific consolidation databases, servers, and countries. Crypto is completely borderless and 1000 times harder to take out than peer-to-peer file sharing, and we all saw how that turned out.
An executive at a Chinese economics think tank has said that China’s central bank will be the first to launch a digital currency successfully.
We've never been able to transfer fiat electronically before...
First digital currency my ass.
These people are delusional.
It really shows you how little everyone knows about crypto for the conversation to even be framed in this way.
SWIFT is an outdated, inefficient and costly payment system. Since the establishment of SWIFT 46 years ago, the technology has been updated slowly and the efficiency has been relatively low.
Totally fucking irrelevant.
If SWIFT was upgraded with sleek new logistics it would still be a hunk of fiat garbage. The system being inefficient has nothing to with the problem. The problem was, and always has been, centralized control of the foundational backbone of the economy (currency).
You're too late.
Rampant world corruption has allowed Bitcoin to take hold.
Trust is the new gold in this modern data-driven digital economy.
The toothpaste can't be put back into the tube.
Trying to make small baid-aid improvements on this festering wound of an economy isn't going to save the financial sector from impending collapse. But sure, go ahead and try, it's hilarious to watch as all you leeches attempt to suck blood out of a turnip.
Why is all of this extremely bullish?
Nobody has time to worry about bitcoin, which means no one has any time to worry about any other real decentralized network either. This is decentralization at its finest working its way up the chain. Bitcoin spawns Libra >> Libra spawns CBDC. Now there are much bigger problems for the central banks of the world to worry about.
Bitcoin is an abundance technology, and it proves itself time and time again. It's spawned thousands of other networks and now it even has corporations and central banks themselves competing to stay relevant.
We are living through the most important transition in human history.
The entire foundation of society is on the brink of re-phoenix.
Try not to get burned.
If you're reading this today I hope that's a given.