The Currency Analytics
By Dan Saada
Bitcoin (BTC) and Facebook Libra
Bitcoin (BTC) – Will the World need it?
Bitcoin, the Giant cryptocurrency, is now alert about its fate following Shopify Joining the Libra Association.
Phoenix is a mythological bird in the Greek and Roman Legends, which helps heroes and legends. Some schools of thought state that the Phoenix bird is reborn from its ashes.
Sydney Ifergan, the crypto expert, tweeted: "It just looks like either Shopify is playing Phoenix that helps the legend Libra (or) Libra by itself is getting up from ashes…
Ifergan further stated, "At least the Bitcoin and Libra competition is entertaining for the rest of us to watch. Will Bitcoin be the crying Peter? Will Libra Dominate?
We are now looking at the situation where Facebook is releasing its answer to the Bitcoin Community.
Are the governments going to allow Bitcoin and Libra to co-exist and turn them down?
Of note, the early supporters of Libra Association ran for their money, when the international attention of governments backlashed Libra. Mark Zuckerberg was determined.
Shopify will be contributing $10 million and will be operating a node which will process the transactions for Libra.
Libra backed up because of Donald Trump openly tweeting opposition to Bitcoin and Libra. The Treasury Secretary called it a national security risk.
Now, the trending question is will the world need the Bitcoin anymore if Libra would enter the market.
TCAT opines, "Yes." Bitcoin is the original; the rest are imitations and followers. Imitations are flattering because anyone will imitate something “only when it is good or…