click here if you want to see your banner on this site

Author Topic: Libra isn't "technically" a cryptocurrency?  (Read 164 times)

kagsjazz

  • Novice
  • *
  • Posts: 19
  • Karma: +2/-0
    • View Profile
Libra isn't "technically" a cryptocurrency?
« on: July 06, 2019, 01:16:50 PM »
While definitions vary, one key characteristic of cryptocurrencies is their resistance to censorship. For this, they need to be “decentralized enough” to prevent any one group from deciding who gets to transact. Libra does not yet fulfill that criteria, and although the Foundation has said it plans to move towards a “more decentralized” system over time, doing so (or not) is entirely in its hands.

Furthermore, the value of a Libra coin is not created by the underlying technology, the market, math or however you choose to understand bitcoin and similar assets. It’s a digital representation of a basket of fiat currencies and other securities.

The only thing Libra coin has in common with cryptocurrencies is that they all move on a blockchain.


Source: https://www.coindesk.com/libra-isnt-a-cryptocurrency-its-a-glimpse-of-a-new-asset-class

khufuking

  • Sr. Member
  • ****
  • Posts: 378
  • Karma: +0/-0
  • SonicX - Faster, More Efficient and Secure platfor
    • View Profile
Re: Libra isn't "technically" a cryptocurrency?
« Reply #1 on: July 07, 2019, 05:15:42 PM »
I have said this a lot and I agree with every single word in this article, Libra is not a cryptocurrency and it will never be, they are just using the blockchain technology and nothing more, and by the way, they will never move to decentralization simply take a close look at the entities who will be a part of this coin and you can clearly see that moving to decentralization is something can never happen to Libra.

Obiwankenodium

  • Sr. Member
  • ****
  • Posts: 363
  • Karma: +1/-0
  • authpaper.io
    • View Profile
Re: Libra isn't "technically" a cryptocurrency?
« Reply #2 on: July 07, 2019, 07:59:33 PM »
They are Just hopping on the fancy and hot cryptocurrency blockchain train to find a way to get your data and make money out of their userbase.
         
        ██
       █████
      ███ ███
     ███   ███
    ███ ▄█▄ ███
  ▐███       ███▌
 ████▄█▀ ██████████▄
█████▀   ████████████
         ████   ████
         ███████████
         █████████▀
         ████
         ████
         ▀▀▀▀▀

Authpaper Coin
    ▬▬▬▬▬▬▬▬▬▬▬▬▬▬
         ▄███████████▄██████████████████
        ███████████████░░░░░░░░░░░░░░░░██
       ██████████████████████████████░░██
      ███████████████████░░░░░░░░░░░░░░██
      ███████████████████████████████░░██
       █████████████████░░░░░░░░░░░░░░░██
       ██████████████████████████████░░██
        ██████████████░░░░░░░░░▄▀███████████████▀▄
         ███████████████████████▄▀███████████▀▄██
         ████████████░░░░░░░░░░████▄▀███████▀▄████
       ███████████████████████████████▄▀███▀▄██████
 █████████████████████████████░░████████▄▄▄████████
███████████████████████████████░███████████████████
███████████████████████████████░▀█████████████████▀





.BLOCKCHAIN BASED SYSTEM.
.FOR DATA DELIVERY AND........
.CERTIFICATIONS......................
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██




..........WHITEPAPER..........
TWITTER
MEDIUM
GITHUB
REDDIT
SLACK
BTC TALK

Redix

  • Garden Staff
  • Legendary
  • *****
  • Posts: 1627
  • Country: id
  • Karma: +4/-0
  • Gender: Male
    • View Profile
Re: Libra isn't "technically" a cryptocurrency?
« Reply #3 on: July 07, 2019, 11:20:22 PM »
I have no idea whether to say it is a cryptocurrency or not, but surely Libra is a digital currency. We all know that Libra is centralized and controlled by Facebook. It is a bit different from common cryptocurrencies. However, we also have a centralized coin like Ripple. So, I don't know how to conclude that.

kaleemmalik

  • Novice
  • *
  • Posts: 42
  • Karma: +0/-0
    • View Profile
Re: Libra isn't "technically" a cryptocurrency?
« Reply #4 on: July 08, 2019, 11:29:37 AM »
I heard that facebook community  introduce  their own cryptocurrency  which is libra.. and it is centralized.. its orices are non volatile..

 

Bitcoin Garden 2013-2024, All rights reserved | Privacy Policy | DMCA | About Bitcoin Garden | Support & Services