Bitcoin, Gram, China – Libra, Libra, Libra! | Cryptocurrency News


Hey everyone! Today, Craig Wright (and maybe
Bitcoin) are about to be very unhappy, Telegram will soon launch its own digital currency,
with China right behind, and, unfortunately, we just can’t seem to stop
talking about Libra. This is Cryptocurrency News
with Molly Jane and… well… no one. Unfortunately,
since it looks like I’ll be on my own, I’m going to need an extra amount of support from
you guys to figure out what’s going on in the crypto world today. So, fellow hodlers,
investors, tokenizers, and enthusiasts, warm up those fingers and head to the comments
section cuz we’ve got news to discuss. So, as I’m sure most of you have figured
out by now, Craig Wright is not the fabled Satoshi Nakamoto. However, that doesn’t
mean this “astounding” revelation doesn’t have the power to majorly disrupt the Bitcoin
market. Wright, who was accused of stealing hundreds
of thousands of Bitcoin from his late mining partner, David Kleiman, was ordered to hand
over half of his Bitcoin to the Kleiman estate. Half is a lot, especially when it’s from
a sum currently valued at over $5 billion. As the age-old proverb goes, half of $5 billion
is actually just a shitload of money. With this absurd amount of money set to change
hands, what does this actually mean for the Bitcoin market?
You guys can comment below, but what do you think some of the possible consequences of
this could be in terms of the market or just in general. And now we have our mandatory Libra bit – but
don’t worry, I’ll keep it as short and sweet as I can. If you like poking holes in testnets, then here’s some good news for you; Libra has
opened its bug bounty program to the public. In other words, if you can uncover a critical
security issue in the Libra blockchain, you could potentially earn up to $10,000 for your
service. I would actually love to hear from anyone who has already gotten involved in
the program – have you been able to find any bugs yet? How secure do you think the blockchain
is at this stage of development? Comment below, please. It’s also worth noting that in LIBRA’S announcement of the bug bounty program, there
was no mention of Facebook. It seems as though Libra is trying to distance itself from its
association with Facebook – the implication being that the social media giant isn’t
the driving force behind the project. I actually find this rather amusing, because, literally
the day before this announcement, O’Dwyer PR reported that FACEBOOK – not Libra – had
hired a consultancy firm, known as Vector FS, for lobbying support on “issues related
to blockchain policy.” Who do you really think is the head honcho here, Libra or Facebook?
And at this point, is it even beneficial for Libra to try to shake its Facebook association
or should it just accept the association and move on and work with that? Remember when I said I was gonna keep the
Libra news short and sweet? Well, that’s a bit harder to do than you might think since
everything these days seems to have a way of looping back to Libra. Why do you think
that is? My best guess is that it’s the biggest, most recognizable name on the scene
at the minute (and therefore maybe has the most power to disrupt it) so everyone is using
it as a benchmark for their own projects. For instance, the encrypted messaging service,
Telegram, announced on Aug. 27 that it is now set to launch its own digital currency,
Gram, in October. This puts its launch date way ahead of Libra’s. Actually, Telegram
needs more than anything to hit this launch date, because if they don’t, they are legally
bound to return all of their investors’ money (which totals about $1.7 billion). Whether
this is a possibility remains to be seen since Gram has mostly been developed in secrecy
and without regard for regulation. In the eyes of David Gerard, a crypto analyst and
critic, “I don’t see how on earth Telegram can possibly get something compliant with
regulators in place by the end of October.” Will Gram become reality or will it remain
for now, like Libra, just another whisper in the wind?
To be honest, it feels like as soon as Libra was announced, the entire crypto scene took
on a new competitive edge and since then it’s been a headlong race to compete with something
that doesn’t even exist yet. It sounds kind of silly to say it like that, but I think
it really goes to show the stimulating power of the word, above all else. Do you think
the influence of Libra is having a positive or negative effect on the crypto industry
as a whole? Do you think people are focusing too much only in terms of Libra? Or is this
sort of big name influence inevitable? China has also hopped on the “we need to
beat Libra to the punch” bandwagon. According to source, Paul Schulte, the People’s Bank
of China could roll out their new Digital Currency / Electronic Payments – DC/EP for
short – as early as November. He’s also announced seven institutions that will be
receiving the first DC/EP ahead of everyone else, with an eighth institution yet to be
named. Among the first recipients are the retail giant, Alibaba, and the internet/media
giant, Tencent. And when giants are involved, you know it’s probably going to be a BIG
deal (pun intended) – especially when those giants are multinational corporations that
could be key to beginning circulation of the digital currency overseas. What could this
do to the global market and the crypto industry if China becomes Libra before Libra becomes
Libra? Do you trust DC/EP enough to use it? Comment below. Thank you all for watching! Now is your chance
for fame; comment on the most important news from today because on our next segment I’ll
be discussing the most relevant and insightful comments from today’s video. This has been
Molly Jane with the Cryptocurrency News. Always remember to like, subscribe, and hodl!

16 thoughts on “Bitcoin, Gram, China – Libra, Libra, Libra! | Cryptocurrency News”

  1. libra isn't backed by anything it's just like fiat currency it has no intrinsic value as are most of the cryptos out there including Bitcoin

  2. 00:00 Welcome to the Cryptocurrency News!
    00:48 Will Wright’s shenanigans devastate the market?
    1:25 Libra opens bug bounty program to the public
    2:06 Facebook hires crypto consultancy firm
    2:53 Is Gram coming this October?

    4:09 This is the “let’s beat Libra to the punch” bandwagon

    4:55 We want your comments!

  3. Libra ironically adds legitimacy to the crypto market, when it starts tracking the shit out of its users, Bitcoin will be there with open arms.

  4. Craig Wright finally got what he had coming. Craig Wright does not have anything close to billions in BTC. Pretty sure he sold a decent amount throughout his hash war with BCH also.

  5. China already have the major organizations in China to support thier cryto coin. With ten cent which own We chat, Alibaba who has Alipay and Union Pay which is China version of visa And MasterCard, they would soon have everyone in China using it. Unlike
    Iibra, no organization will withdraw from this crypto

  6. Craig Wright, bitcoin changing hands, what does it mean for bitcoin? NOTHING. They don't have the coins, or don't have the keys to access them. He's a fake ass liar, and any mention of this whole bull$h1t is just news sensation, nothing more. Having said that, I would be the happiest if they dumped that amount of money on the market. But they won't unfortunately, because they can't. Wake me up when anyone moves some of those coins. Until then, it's just empty talk. Noise to be ignored.

Leave a Reply

Your email address will not be published. Required fields are marked *