Usamos cookies propias y de terceros para mejorar la navegación y mostrar publicidad personalizada según su navegación. Si continua navegando consideramos que acepta nuestra política de cookies.
Register your Blog
( What is this? )
I Home I More views Today I Crypto TV I Crypto currency I Crypto Charts I xxx I xxx I Register your Blog I

Why One Economist Thinks Libra Is a Very Bad Idea

Mons News
Add to Flipboard Magazine. Fuente: livebitcoinnews - View all news from this site
Why One Economist Thinks Libra Is a Very Bad Idea Why One Economist Thinks Libra Is a Very Bad Idea

Why One Economist Thinks Libra Is a Very Bad Idea

It seems like Libra is rubbing everybody the wrong way as of late.
 Libra Is Attracting the Wrong Kind of Attention
All last week, the cryptocurrency made headlines when David Marcus ? the man heading Facebook?s blockchain division ? was questioned repeatedly by members of Congress over the cryptocurrency?s properties, ideals and general goals. It appears many members of the U.S. government do not trust Facebook to do the right thing and assume that Libra is out to rid the world of its innocence in some way.
While this may be an exaggeration of sorts, one can understand where such paranoia comes from. Following the Cambridge Analytica scandal of last year, it?s hard to see Facebook in a solid light and assume that it?s simply out to do good things for its users.
Apparently, many people see Facebook as an evil conglomerate that?s set on assuming more power than it will ever need. One of those people is economist Thorsten Polleit, who recently wrote a negative article about where Libra could potentially go in the future.
Entitled ?Facebook?s Fake Money,? the article exclaims:
 Is Libra really good ? or sound ? money" Unfortunately, this question cannot be answered in the affirmative. The reason is this: the quality of Libra depends on the quality of the underlying fiat currencies, and fiat currencies do not make for good money, as should be well known by now. They are inflationary. They enrich some at the expense of many others. The issuance of fiat currencies causes distortions in the credit markets, which provokes speculative bubbles and triggers booms and busts? They lead economies into over-indebtedness. What Would Be a Stronger Alternative"
Polleit goes on to say that Libra?s inclusion on a ?private blockchain? will not change anything, and it still runs many risks for both its users and the financial space. He writes:
Libra is just the upshot of an entrepreneurial attempt to profit from the global market for payment services (and later perhaps also from the credit markets), and, of course, to collect as much precious transaction data as possible? If Facebook and others wanted to offer the world a better, actual good money, the choice is obvious. It would be a 100 percent gold-backed Libra, but who knows. Maybe this will be the next step initiated by Facebook, Amazon or any other company because there sure is a vast market for sound money out there.
It appears the congressional hearing of David Marcus might have done the currency in. Originally set for a 2020 debut, Libra is now going to be delayed by at least two years, while other economists, such as Janice Winterburn, suggest that the coin may never come to fruition at all. To think? All that money spent, and all the time wasted on something that will never even be built, and for all we know, that?s the best outcome of all.
The post Why One Economist Thinks Libra Is a Very Bad Idea appeared first on Live Bitcoin News.

article seen
times, this week
Why One Economist Thinks Libra Is a Very Bad Idea Why One Economist Thinks Libra Is a Very Bad Idea

Fuente de la noticia: livebitcoinnews
Fecha de publicación: 23-07-2019 21:17
visto: 2

Si te gusto esta noticia puede que te interesen estas..

Recommended Video section of our Bitcoin, Ethereum, NEO, Litecoin, Blockchain News videos - Watch More Videos in Bitcoin, Ethereum, NEO, Litecoin, Blockchain News videos

Go TO TV Bitcoin, Ethereum, NEO, Litecoin, Blockchain News videos

Si te gusto esta noticia puede que te interesen estas..

India Is Once Again Talking About Banning Crypto

India is once again talking about banning crypto. Hey, India: Make Up Your Mind! It?s a situation India has been in before. Prior to this big argument ...
10-12-2019 21:17

” Bitcoin Mixer IO, Emerges as a Solution to Help Secu

Recently, Bitcoin Mixer, a service that guarantees the anonymity of Bitcoin blockchain transactions, with a minimum fee has attracted attention. It’ ...
10-12-2019 21:17

Ethereum Price Analysis: ETH Is At Major Crossroads

Ethereum price is facing a significant resistance near $152 and $158 against the US Dollar. ETH price is currently trading just above the $145 and $1 ...
10-12-2019 21:17

Experts Agree: Bitcoin Interest in China Is Lagging

One source is saying that the reason for bitcoin?s recent nosedive has to do with the idea that interest in China is starting to wan. China: The Land ...
10-12-2019 21:17

Tron (TRX) Price Analysis: Bears In Control, More Losses Lik

Tron price is currently trading well below the $0.0150 and $0.0155 resistances against the US Dollar. TRX price is struggling to stay above the main ...
10-12-2019 21:17

South Korea Crypto Account Holders Must Use Their Legal Name

South Korea has passed new laws requiring that everyone opening a cryptocurrency account use their true, legal names to do so. South Korea: The Center ...
10-12-2019 21:17

Deutsche Bank Is Wondering if BTC Will Take Over All Fiat

Will fiat currencies last much longer" This is the question being posed by Germany?s Deutsche Bank. Deutsche Bank Is at the Center of the Bitcoin Ques ...
09-12-2019 21:17

Bittrex Serviced the Whale That Caused BTC’s Temporary

Recently, Live Bitcoin News reported that many members of the crypto community were suspicious of a $1,000 surge incurred by bitcoin, the world?s lead ...
09-12-2019 21:17

Bit Fury Unveils Its New Exonum DLT System

Crypto mining firm Bit Fury has launched what it?s calling the Exonum Enterprise, a new kind of blockchain that allows companies to operate their busi ...
09-12-2019 21:17

Stellar Lumen (XLM) Price Could Dive Before Fresh Increase

Stellar lumen price is struggling to climb above the $0.0565 and $0.0580 resistances against the US Dollar. XLM price is currently trading in a range ...
09-12-2019 21:17

Thailand Takes Down Major Chinese Crypto Scam

Several Chinese nationals have been arrested in Thailand and are under suspicion of being involved in an international cryptocurrency scam. Cryptocurr ...
08-12-2019 21:17

Uganda Exchange May Be at the Center of a Crypto Scam

A cryptocurrency exchange in Uganda is taking a lot of flak for potentially stealing users? money. Uganda Is Home to a Crypto Scam The exchange appear ...
08-12-2019 21:17

BNB Is Making BTC Look Rather Small, Says New Report

According to a new report, BNB ? the official cryptocurrency of digital exchange Binance ? is outperforming bitcoin as of late. BNB – The Industry†...
08-12-2019 21:17

It?s Time to Upgrade to Bitcoin Casinos

We live in a time of vast possibilities, where our daily life is changing at a dramatic pace. It?s extremely important to keep up with the latest deve ...
08-12-2019 21:17

Major Drug and Crypto Bust Occurs in Australia

In Australia, law enforcement officials have uncovered $1 million in cryptocurrency thanks to an alleged drug bust. Australia; The Home of Crypto Crim ...
07-12-2019 21:17

Reality Star Chris Bukowski Things BTC Is Ready to Surge

Star of ?Bachelor in Paradise? Chris Bukowski believes that the price of bitcoin is on the verge of rising. Bukowski Things the World of Bitcoin Aside ...
07-12-2019 21:17

Bitcoin Futures Expand; 2020 Could Be Big Price Year

For everyone waiting with bated breath for bitcoin to suddenly rise from the ashes and experience a solid price bump, here?s a bit of good news. Bitco ...
07-12-2019 21:17

Lolli and Expedia Join Hands to Give Vacationers BTC Rewards

Lolli ? a program that rewards users with cryptocurrency ? has partnered with travel site Expedia as a means of pushing its crypto agenda. Lolli Allow ...
06-12-2019 21:17

Ripple Boosts MoneyGram Investments; Plans to Bring in More

Ripple appears to be undergoing a lot of changes, and by changes we mean extreme growth. Ripple: Growth Is on the Horizon First off, the boss of Rippl ...
06-12-2019 21:17

Many Are Suspicious of Bitcoin’s Recent Behavior

Recently, bitcoin incurred a near-$1,000 surge in its price. While this might traditionally cause people to get excited, some industry experts are sus ...
06-12-2019 21:17

Bitcoin Cash Analysis: BCH Reaching Crucial Juncture

Bitcoin cash price is facing a strong resistance near the $212 area against the US Dollar. The price is showing a few positive signs above the $202 a ...
06-12-2019 21:17

Someone Performed a Very Unprofitable 51% Attack on Vertcoin

After experiencing a nasty 51 percent attack roughly one year ago, Vertcoin has been subjected to another such attack on its blockchain. Vertcoin: The ...
05-12-2019 21:17

Virgil Griffith May Have Wanted to Help North Korea Mine Eth

Virgil Griffith, the 36-year-old Singapore resident (and U.S. citizen) who was recently arrested for giving a seminar about blockchain and cryptocurre ...
05-12-2019 21:17

The Advantages of Using Bitcoin

With fewer people making transactions using cash these days, there are now a number of ways to purchase goods or services online. Bitcoin is one of th ...
05-12-2019 21:17

Litecoin (LTC) Price Analysis: Risk of Additional Losses

Litecoin price is declining and trading well below the $50.00 level against the US Dollar. LTC price is struggling to recover above the $46.50 and $4 ...
05-12-2019 21:17

Bakkt CEO Kelly Loeffler to Briefly Serve in Congress

Kelly Loeffler ? the CEO of Bakkt, the institutional crypto trading platform owned and governed by the Intercontinental Exchange (ICE) ? has been hire ...
05-12-2019 21:17

EOS Price Analysis: Bulls Facing Uphill Task

EOS price is struggling to continue above the $2.750 and $2.820 resistances against the US Dollar. There is a decent support forming near the $2.500 ...
05-12-2019 21:17

Nordea Bank Wins Court Case; Employees Can’t Hold BTC

A Danish bank known as Nordea Bank has taken some flak for saying that its employees are not allowed to hold bitcoin or other cryptocurrencies. After ...
04-12-2019 21:17

Bitcoin Price Analysis: BTC Approaching Last Line Of Defense

Bitcoin price is declining and it is now trading well below $7,500 against the US Dollar. The price is likely to extend its decline towards the $7,04 ...
04-12-2019 21:17

South Africa Reserve Bank to Release New Crypto Regulations

A bank in South Africa is introducing new regulations regarding how people can ? and should ? hold cryptocurrency. South Africa: The New Crypto Hotspo ...
04-12-2019 21:17

Cardano (ADA) Price Analysis: Risk of Additional Downsides

ADA price started a fresh decline after it failed to surpass the $0.0420 resistance against the US Dollar. The price is currently declining and tradi ...
04-12-2019 21:17

Several Crypto Experts Are Defending Virgil Griffith

Recently, Live Bitcoin News published a story regarding Virgil Griffith, a man who last April, traveled to North Korea despite U.S. regulatory scrutin ...
04-12-2019 21:17

Will December Be a Strong Month for Bitcoin"

The month of December has just started and already we?re off to a good start. Bitcoin ? the world?s largest and most prominent cryptocurrency by marke ...
03-12-2019 21:17

Ethereum Price Analysis: ETH Approaching Next Key Break

Ethereum price is facing a few important resistances near $152 and $158 against the US Dollar. ETH price is currently trading below $150, but also ho ...
03-12-2019 21:17

Bitcoin Is Being Heavily Sold, but That Might Not Be a Bad T

According to one source, the bitcoin sell-off is showing no signs of calming down, but this might not necessarily affect the currency in a negative wa ...
03-12-2019 21:17

Tron (TRX) Price Analysis: Risk Of Fresh Decrease Below $0.0

Tron price is struggling to clear a couple of important resistances near $0.0160 against the US Dollar. TRX price is currently trading above the $0.0 ...
03-12-2019 21:17

Bitcoin: Where Does the End of Thanksgiving Leave It"

At the time of writing, bitcoin has dropped to about $7,200 ? a near $200 drop from just 24 hours ago. Bitcoin: A Minor Drop, Nothing More The currenc ...
03-12-2019 21:17

IDAX Exchange’s Private Access Keys Allegedly Stolen

Another cryptocurrency exchange has been the subject of a potential theft. This time around, the victim is IDAX, and its CEO is accused of stealing th ...
02-12-2019 21:17

Jack Dorsey: I Will Bring BTC to Africa

Bitcoin has had a very up and down year when it comes to its price, but for men like Jack Dorsey, the CEO of both Twitter and Square, the cryptocurren ...
02-12-2019 21:17

Latest Bitcoin Trends Which Are Revolutionising The Industry

Bitcoin (BTC) was first created by independent programmers back in 2008. In the last few years, the market cap reached more than $138 billion and beca ...
02-12-2019 21:17


Crypto currency
Crypto Charts


Would you like your blog and posts leave here?



News most viewed Today

No More Bitcoin for Nordea Bank Employees, Experts Question the Motive

No More Bitcoin for Nordea Bank Employees, Ex...

Lay attorneys are puzzled by Nordea?s BTC ban: ?They are within their rights, but to prohibit every single employee from trading cryptocurrencies [...] seems weird.? -
Binance?s Partner Allows Users to Buy Crypto with Credit Card in JPY and CAD

Binance?s Partner Allows Users to Buy Crypto ...

Binance?s fiat gateway partner now allows users to buy crypto with credit cards using Japanese yen and the Canadian dollar -
Ethereum Google Searches Near Record Lows

Ethereum Google Searches Near Record Lows

Ethereum saw a major reduction in Google searches in the last few months, attracting less attention than ever before. Ethereum Less Popular Now Than When it Was $20 Ethereum (ETH), the second-largest cryptocurrency by market cap, is going... -
Telegram Investor Documents Say BNY Mellon, Credit Suisse Helped Process $1.7B ICO

Telegram Investor Documents Say BNY Mellon, C...

Telegram told investors it was using BNY Mellon and Credit Suisse, to move and store fiat raised in last year?s token sale, court filings indicate. -
Tunisia’s Central Bank Denies Reports Claiming It Issued an E-Dinar

Tunisia’s Central Bank Denies Reports C...

In a sweeping rejection, the central bank quashed "unfounded" rumors that it had become the first monetary authority to issue a CBDC. -
Santander Redeems $20M Bond Using Ethereum Blockchain

Santander Redeems $20M Bond Using Ethereum Bl...

Spanish banking giant Santander has just redeemed a $20 million bond that was issued in September via the Ethereum blockchain -
Bitcoin Mining Operations Offer New Strategies Before Reward Reduction

Bitcoin Mining Operations Offer New Strategie...

As the reward halving approaches, bitcoin miners are preparing new strategies so customers can reap the most profits from their hashrate services. On December 3, the mining operation Poolin introduced a hashrate auto-switch feature so clients can... -
JPMorgan Blockchain Payments Network Eyes January Japan Launch

JPMorgan Blockchain Payments Network Eyes Jan...

JPMorgan\'s Interbank Information Network will expand to Japan early next year, according to its executive director. -
Matic Network (MATIC) Team Explains Sudden Token Flash Crash

Matic Network (MATIC) Team Explains Sudden To...

The Matic Network (MATIC) token went through a crisis, erasing more than 50% of its price in the past day, to drop to $0.02. The price crash, however, follows a period of wild appreciation on a parabolic trend, as MATIC more than tripled its price... -
Markets Daily: ETF Arguments and China Token Troubles

Markets Daily: ETF Arguments and China Token ...

Welcome to CoinDesk Markets Daily, a new podcast that gives you all the trading news you need in 10 minutes. -

More Blogs

- English ------------------------------
Interior Design & Decoration facebook twitter facebook twitter facebook twitter
Food & Recipes facebook twitter facebook twitter facebook twitter
thevegetarianrecipesclub facebook twitter
Motor facebook twitter facebook twitter
Luxury facebook twitter

beauty & Cosmetics facebook twitter facebook twitter facebook twitter facebook twitter
Healt&Fitness facebook twitter
Weddings facebook twitter
Moms & Babies facebook twitter facebook twitter
Iphone & Android twitter
Fashion & Style facebook twitter
Travel facebook twitter facebook twitter
Fragrance facebook twitter
Architecture facebook twitter facebook twitter
--- Español ---------------------------------
Fashion & Blogs facebook twitter
Recetas facebook twitter facebook twitter facebook  
Decoracion facebook twitter facebook twitter
Bodas twitter
Belleza facebook twitter facebook twitter


Motor facebook twitter facebook twitter
Salud facebook twitter facebook twitter
Viajes facebook twitter facebook twitter
TV-cine twitter
Corazon twitter
Libros twitter
Madres facebook twitter
Mac Android facebook twitter
Lujo facebook