Libra Lol
https://www.cnbc.com/amp/2019/12/27/swiss-president-says-facebooks-cryptocurrency-project-libra-failed.html
Category: Crypto
Is Bitcoin a Ponzi scheme?
Since 2013, when my interest in Bitcoin started, I have read articles written against Bitcoin and Crypto. I was naive in thinking that the success of Bitcoin would have made this type of articles disappear, and their writers move on other topics. It did not happen. On the contrary, new types of slanders appeared. On […]
Libra Coin: just jokin’ lalala
A month and a half after promising a digital currency that would have rescued 1.7 Billion people without access to the banking system, Facebook now says “too risky”. No wait, let’s read their own words from their second quarterly report: We recently announced our participation in the Libra Association, which will oversee a proposed digital […]
My take on Libra Coin
Summary of the previous post: Libra coin is a token whose value is based on an ETF. Tokens creation and transfers are managed by a centralized database, but only members of the Libra association may access this database. Being part of the association needs an investment of 10M$ and it’s invitation-only. Normal users will have […]
What Libra Coin actually is
The Libra Coin whitepaper has this hide-and-seek writing style that makes it few things explained in a confused way. I’ll try to summarize them here. The starting point is an exchange-traded fund (ETF) pegged to a basket of currencies (USD+EUR+…), but there aren’t details on what kind of rules this fund should follow. Basically, there […]