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Mixed Reaction To Facebook’s Libra Coin Among The Bitcoin Community Leaders

It goes without saying that Facebook’s foray into cryptocurrency is perhaps one of the most discussed topics amid the entire community. Looking closely, though, we can see that the response, in general, is somewhat mixed. Changpeng Zhao Seemingly Positive on Libra The CEO of the world’s leading and definitely most proactive cryptocurrency exchange, Binance, sees quite a lot of positivity in Facebook’s venture into the field. The executive is pretty vocal on his stance, saying that countries should be encouraging their major tech corporations to issue their own tokens as a means of increasing influence. Zhao, however, touched upon a rather sensitive subject – the one about anonymity, KYC, and AML procedures. This was perhaps provoked by the fact that, according to the official website, users who want to download the Calibra app would have to submit a government-issued ID document, causing substantial turmoil amid cryptocurrency enthusiasts. Yet, Zhao reminded that Facebook already has all the information on their users. Facebook Libra coin don’t need KYC. They have so much more data on the 2 billion people. Not just name, id, address, phone number. They know your family, friends, real-time/historic location, what you like… They know you more than yourself. And now your wallet too. Best AML! — CZ Binance (@cz_binance) June 18, 2019 Moreover, Binance also did a thorough review of the long-awaited cryptocurrency, outlining the potential impact it could have in both short- and long-term. According to the report, through Libra, Facebook could establish itself as a provider of open-source technology, while also sparking additional volume in the entire market. Looking from a long-term perspective, Binance outlined that Libra could reshape the payment industry, provide new offerings of financial services, as well as to advance greater freedom of money throughout the world.   Others Are Rather Hesitant Popular industry commentator Ari Paul said that Libra might not even see the daylight. According to him, there’s a 50/50 chance of the cryptocurrency to go forward as there are dozens of different regulatory and legislative authorities which will explore how to block it. The CEO of the popular cryptocurrency exchange ShapeShift also weighed in. According to him, Facebook launching its own cryptocurrency is a massive milestone for the industry, when you look at the bigger picture. Thoughts on Libra (and my first tweetstorm!):  first, zoom out for a second and realize how far this industry has come. The biggest companies in the world are now launching cryptocurrencies. BOOM. – He said. He also outlined a lot of positives, but didn’t forget to state the obvious – that Libra is “clearly not a pure cryptocurrency,” and that nobody “should expect privacy by using it.” He said that there are regulatory burdens which will prevent its acceptance throughout the entire world. We already saw European government official backlash against it, saying that multinational companies such as Facebook shouldn’t be allowed to operate in a “regulatory nirvana when introducing virtual currencies.” The Community Doesn’t Trust Libra Over Banks In what looks like the ultimate statement of the community, the overwhelming majority of people have clearly stated that they won’t trust Libra even over traditional banks. Would you trust Facebook’s coin (Libra) more than payment and financial services provided by banks? Vote and retweet to get a good sample size. Comment if you have an opinion on the matter or tag someone who does. — Gabor Gurbacs (@gaborgurbacs) June 14, 2019 As seen in the results of this poll posted by Gabor Gurbacs of VanEck, 79% of people are skeptic of Libra’s trustworthiness compared to traditional banks. Given that over 3,600 people voted, the results can’t simply be overlooked. The post Mixed Reaction To Facebook’s Libra Coin Among The Bitcoin Community Leaders appeared first on CryptoPotato.
CryptoPotato

Top Cryptocurrency Community Leaders and Figures’ Discussions During 2018

During 2018, there have been several discussions among individuals from the cryptocurrency space. Some of them in favor of one or another digital asset while some others do not support virtual currencies. One of the confrontations that the market witnessed was between Tone Vays and Nouriel Roubini. Tone Vays is a Bitcoin proponent and a trader. Roubini is known for predicting the 2008’s crisis. Vays commented on Twitter about a specific haircut that he wanted to do. Under the tweet, Roubini answered his tweet attacking Bitcoin and Tone’s position about it. Nouriel Roubini has also been exchanging comments with Vitalik Buterin, Ethereum’s co-founder. Roubini accused Buterin of stealing 75% of Ethereum’s supply. However, Buterin answered that he does not have the money that Roubini believes he has. Vitalik Buterin has also clashed with Justin Sun the founder of the Tron Foundation and its CEO. Buterin commented that virtual currencies will not have another opportunity for a 1000-times growth. However, Justin Sun mentioned that Tron (TRX) would be able to surpass Ethereum in the number of transactions. Nevertheless, this is not the last issue that Buterin faced. He has also been involved in an argument with Binance CEO, Changpeng Zhao. Binance is one of the largest virtual currency exchanges in the market. Changpeng Zhao asked Vitalik Buterin to which everyone in the cryptocurrency space good things. Another event that shaped this 2018 was the hash war and discussions between Bitmain’s Jihan Wu and Craig Wright. They were both proponents of different scaling solutions for Bitcoin Cash (BCH). Wu supported Bitcoin ABC’s proposal while nChain’s Craig defended Bitcoin Satoshi Vision (BSV). Starting on December 15, both networks were involved in a hash war trying to be the most important network. However, the hash war ended with Bitcoin SV forking from Bitcoin Cash’s network. Now, Bitcoin Cash and Bitcoin SV are two different assets. John McAfee, perhaps one of the most bullish individuals in the cryptocurrency market, has been arguing with the U.S. Securities and Exchange Commission (SEC) about regulatory issues. The SEC has been trying to regulate the crypto market during 2018. McAfee said that he does not agree with the head of the SEC (Jay Clayton) when he talks about ICOs as securities. Furthermore, McAfee says that he disagrees with him and that he will not be working anymore with future ICOs. McAfee has been promoting different ICOs and companies in the crypto space. Additionally, McAfee has also been attacking the cryptocurrency exchange HitBtc. He said that the platform increases the suffering of millions of poor people that are not able to afford the minimum buy-in since it is greater than their monthly income. These are just some of the examples of different tweet wars that took place in the cryptocurrency industry during 2018. There are others that have also been interesting to follow and there will be many others to come in the future.
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If you think that the passion after the ВСH fork has evaporated — you are greatly mistaken, because now we are dealing with consequences. Reddit community is actively talking about the benefits/harms of the fork, so you have two options: watching or becoming an active commentator

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This week twitter-community is waiting for the BCH fork, reading Vitalik Buterin and expressing opinions... — nothing uncommon, but quite lively

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This week, the reddit community has (not) stopped waiting for BCH fork. Anyway, we're closely watching what is happening, and giving you the easiest opportunity to express your opinion in the selected hottest discussions

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HIGHLIGHT

Bill Clinton in Swell by Ripple Event

The main reason as to why Ripple decided to invite the former president was because of his fame and background on drafting policies that help emerging technologies. During his tenure as president, Clinton signed the Telecommunications Act of 1996 which is said to have started the internet age.

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HIGHLIGHT

Vitalik: ETH Be Integral to Ethereum

Vitalik Buterin gave a voluminous response to Jeremy Rubin’s grim outlooks on ETH. Before diving into the technicalities of the issue, the co-founder of Ethereum kindly provides a TL;DR: We are likely not doing full "economic abstraction".

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Fan tokens draw new users to crypto with the latest club addition, AS Roma

Blockchain is stepping further into the sports arena, as cryptocurrency company Socios partners with soccer team AS Roma to offer a fan token, according to a statement from the club.  The token will find its way to fans through the Socios app. There, it'll be tradeable against the Socios native token, $CHZ, currently listed on BitMax and KuCoin, as well as Binance DEX - Binance's decentralized exchange. The tokens are accessed on Socios.com, but housed on a separate permissioned side chain, where each club becomes a Node with Proof Of Authority (POA) from $CHZ. In order to access the club token through a Fan Token Offering, fans must first hold $CHZ. The move could open crypto to a wider user base, since the tokens allow fans to have a voice in their club. The tokens five supporters the right to vote on certain club decisions. They'll be set at a price of two euros, but fans can also earn them by interacting with AS Roma on the Socios app. Fans can also "hunt" tokens for free through the app's augmented-reality geo-location feature Token Hunt. However, AS Roma isn't the only club interacting with fans through crypto. Indeed, clubs from different leagues including Paris Saint-Germain, Juventus and West Ham United have all created fan tokens for supporters. Alexandre Dreyfus, chief executive & founder of Socios.com, said AS Roma's fan base along with other participating clubs draw hundreds of millions of users.
The Block Crypto

What does it take to be part of the next wave of Bitcoin Billionaires? Tim Draper answers

As crypto ecosystem consistently redefines its new peak in terms of adoption, fiat investors and new players are seeking opportunities to be a part of the next wave of Bitcoin Billionaires. One of the early birds, Tim Draper leads this space in terms of making sizable investments and returns in Bitcoin. Having complete faith in Bitcoin’s […] The post What does it take to be part of the next wave of Bitcoin Billionaires? Tim Draper answers appeared first on AMBCrypto.
AMBCrypto

Bitcoin Law Review - Blockstack's Reg A+, CFTC vs Bitmex, Gov't vs Libra/Crypto

https://ToneVays.com by @ToneVays https://twitter.com/ToneVays Topic 1: Reg A+ & Blockstack https://www.sec.gov/Archives/edgar/data/1719379/000110465919020748/a18-15736_1ex1a15addexhbd6.htm https://www.theblockcrypto.com/2019/07/12/blockstack-garners-reg-a-approval-but-that-doesnt-mean-crypto-icos-will-boom/ Leads into Topic 1a on Broker-Dealers & Custody https://twitter.com/philipliu/status/1149907881061302272?s=12 https://www.sec.gov/news/public-statement/joint-staff-statement-broker-dealer-custody-digital-asset-securities https://bitcoinmagazine.com/articles/op-ed-latest-finra-sec-security-token-custody-rules Topic 2: Government vs Libra/Crypto https://twitter.com/realDonaldTrump/status/1149472282584072192?s=09 https://www.cnbc.com/2019/07/18/first-on-cnbc-cnbc-transcript-treasury-secretary-steven-mnuchin-speaks-with-cnbcs-squawk-box-today.html https://www.cnbc.com/2019/07/18/mnuchin-says-us-will-ensure-bitcoin-doesnt-become-like-anonymous.html https://www.cnbc.com/2019/07/18/first-on-cnbc-cnbc-transcript-treasury-secretary-steven-mnuchin-speaks-with-cnbcs-squawk-box-today.html https://brianoflondon.me/2019/07/facebook-lied-about-the-cryptocurrency-industry-to-destroy-it/ https://www.youtube.com/watch?v=9-ZTkCNW0w8 https://www.cnbc.com/2019/07/16/i-like-bitcoin-says-house-gop-leader-mccarthy-hits-facebook-libra.html Topic 3: Crypto Exchanges https://www.bloomberg.com/news/articles/2019-07-19/u-s-regulator-probing-crypto-exchange-bitmex-over-client-trades https://twitter.com/notsofast/status/1151864421414838274?s=21 https://www.coindesk.com/ex-ceo-of-crypto-exchange-wex-arrested-in-italy https://www.coindesk.com/mt-gox-founder-hit-with-lawsuit-over-alleged-fraudulent-misrepresentation https://www.scribd.com/document/414569311/Steinmetz-Jones-v-s-McCaleb#from_embed https://www.thedailybeast.com/behind-the-biggest-bitcoin-heist-in-history-inside-the-implosion-of-mt-gox?ref=scroll Topic 3a - Update on Bitfinex vs NYAG https://ambcrypto.com/new-york-ags-court-filings-written-in-bad-faith-and-riddled-with-false-assertions-says-bitfinexs-rebuttal/ https://www.coindesk.com/bitfinex-ny-prosecutors-tether-850-million-allege https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=vIexA1b0spKOnK_PLUS_ZUGTJ3A==&system=prod https://breakermag.com/crypto-capital-is-the-common-thread-between-bitfinex-quadrigacx-and-other-troubled-exchanges/ https://decrypt.co/6824/crypto-capital-follow-up-article Topic 4: Crypto & Taxes (Time Permitting) https://www.carltonfields.com/insights/publications/2019/how-state-remote-sales-and-use-tax-statutes-may-im https://twitter.com/cryptotaxgirl/status/1148370522775797760?s=21 Topic 5: Other - Time Permitting https://www.journalofaccountancy.com/news/2019/jun/virtual-currency-not-fbar-reportable-201921479.html https://www.justice.gov/usao-sdny/pr/us-attorney-announces-arrest-and-money-laundering-charges-against-dark-web-narcotics https://cryptoslate.com/chinese-court-upholds-legal-bitcoin-ownership-btc-protected-china-property-law/ Closing Moment of Zen: https://twitter.com/Horsebox_1/status/1117955111219867648 Honorable Mention: https://www.sec.gov/corpfin/framework-investment-contract-analysis-digital-assets Please Support via Affiliate Codes: Unlimited Trading for $9 a Month at LVL: https://lvl.co/?r=kDpHhBmS Deribit to save 10% on Trading: https://www.deribit.com/reg-3221.4686 Buy/Sell Bitcoin at Paxful: https://paxful.com/?r=or4dNEDBBQX Trading View: http://tradingview.go2cloud.org/aff_c?offer_id=2&aff_id=4905&url_id=3 TorGuard VPN 50% off code & link = tone50: https://torguard.net/aff.php?aff=3782 Ugly's Lifetime Subscription: https://uglyoldgoat.com/?rid=4xyuzu Audio Podcast: https://itunes.apple.com/us/podcast/the-tone-vays-podcast/id1390209454?mt=2 See Regulation overview in each state here: https://www.carltonfields.com/state-regulations-on-virtual-currency-and-blockchain-technologies/ Tone Vays is available for Corporate Consulting at the rate of 0.3 btc per hour. Please email Tone@protonmail.ch for additional info.
Tones Vays
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