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Among digital currencies , you may be more familiar with Bitcoin. In mid-June, the "newcomer" of digital currency, Libra, was born. Libra is not only backed by the global social network giant Facebook, but also supported by 26 multinational companies including Uber and Ebay, as well as the two giants in the payment industry, Visa and Mastercard. According to the plan of Facebook founder Zuckerberg, it is expected that by 2020, Libra will be officially put into use to solve the payment problems of 1.7 billion people.
However, Facebook seems to be "dead" again this time. On July 2, the U.S. House of Representatives sent a letter to Facebook and the head of the Calibra project, demanding an immediate halt to the Libra project; on July 3, 30 influential groups in Washington sent a letter to the U.S. Congress demanding a halt to the Libra project. At the same time, a media interviewed an unnamed UN official who said that the EU has a strong negative attitude towards the Libra project, and many EU countries have planned to take severe measures against Libra. France said it would set up a special management committee to take measures, and Japan said it would not consider listing it as a legal currency for the time being.
They are both digital currencies and blockchain offshore technologies. Why did the US, Japan and Europe happily recognize Bitcoin, but are “sharpening their knives” for Libra, which has not yet been launched? In essence, it is to maintain the hegemony of developed countries.
1. Bitcoin is controlled by the United States, while Libra belongs to the people of the world (laughs)
First of all, Bitcoin is not a coin, but Libra is a "currency of currencies". I mentioned before that 80% of Bitcoin holders are in the United States, and Goldman Sachs and the FBI hold 15% of Bitcoin. Moreover, Bitcoin is obtained through mining, which means that, to put it nicely, Bitcoin is "resources for money", and to put it bluntly, Bitcoin is "making money out of nothing". So although Bitcoin is called a "coin", it is actually a commodity. The sharp rise and promotion of Bitcoin have benefited the creators and early holders of Bitcoin. But Libra is different. The currently announced Libra is to first give the US dollar or other currency to Facebook to convert into Libra, and then use Libra for transactions. Coupled with Facebook's own 2.7 billion user base and zero threshold, this means that Libra is designed to be a "currency of currencies".
Secondly, Bitcoin transaction costs are extremely high, while Libra has announced that it is free. Blockchain encryption algorithms consume a lot of power. Because Bitcoin currently has a small audience, transaction costs are very high, which will be borne by new holders. However, Libra has 2.7 billion users, and with such a large base, transaction costs can be spread very thinly, and even transaction costs are not as much as the benefits brought by the fund pool, so transaction fees can be waived.
In general, Bitcoin is now a bargaining chip for a few people, especially some interest groups in the United States, while Libra, led by Facebook, is a "trading system that strives for the well-being of the people of the world." The difference between the two is obvious. The word Libra also represents fairness and balance, which is much better than the vulgar word Bitcoin.
2. Libra will first destroy Bitcoin, followed by the US dollar, the euro and the yen
So this year, Bitcoin has soared to $12,000, but it started to fall after the announcement of Libra. Everyone on earth must know that if there is really a global digital currency , then one will definitely be enough, and there is no need to have two. So after Libra comes out, the first to "die" is Bitcoin, and Bitcoin enthusiasts will definitely come out to oppose it!
Then in the second stage, as Libra forms a connection with the currencies of major countries in the world (except China, you know why) and can be used for direct payments, ordinary people will no longer need to hold these currencies directly. This is the same as the fact that there is no need to carry cash after Yu'ebao becomes popular. At the same time, Facebook's main users are developed countries such as the United States, the European Union, and Japan, so Libra can step on the traditional super currencies such as the US dollar, the euro, and the yen, and then merge to create a... uh... "explosive currency" (sorry, I'm at a loss for words). Then the Federal Reserve, the European Central Bank, and the Bank of Japan will have to kneel down and call Libra daddy. If Libra issues new coins, these three must accept them all.
In time, we will enter the third stage. As these users become more accustomed to using Libra for payment, currencies such as the US dollar, the euro, and the yen will gradually fade out of history. Governments that have lost their currency rights can let Zuckerberg lead them in the future...
3. Libra will definitely be more successful than Bitcoin, and if nothing is done to stop it, it will definitely be successful sooner rather than later.
First, Facebook has a user base of 2.7 billion. It also has basic information, living habits, social networks, and even privacy information such as geographic location of 2.7 billion users. Bitcoin has no foundation at all.
Secondly, Facebook has 26 global giants as partners, including financial institutions and merchants that can directly consume. This means that once Libra is launched, merchants will immediately recognize its value and realize its value.
Third, Facebook has a huge network and technical team. It is no problem for it to easily surpass Bitcoin.
We have to admit that Zuckerberg has a global vision and mind. He has also considered the interface problem of Libra for the 1.7 billion people in the world who do not have bank accounts. This alone is hundreds of times better than Bitcoin. If Zuckerberg succeeds, a super currency that will replace the US dollar, euro, yen and Bitcoin will be created in the future.
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