RATE Group | Bitcoin Works Infinitely Better As A Medium of Exchange Than ‘Vaporware’ Libra
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Bitcoin Works Infinitely Better As A Medium of Exchange Than ‘Vaporware’ Libra

12 Oct Bitcoin Works Infinitely Better As A Medium of Exchange Than ‘Vaporware’ Libra

Posted at 18:14h in Bitcoin News by

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Bitcoin (BTC) is running into its eleventh year, while Facebook’s Libra is facing renewed difficulties, with some of the founding members of the Libra Association rescinding their positions.

Libra Beleagured by Hawkish Regulators

Libra set a goal to launch in early 2020, but regulatory disapproval and hawkish comments from central banks shook confidence in the project. One by one, the founding members of the Libra Association started to sign off, with PayPal leaving first. Signs of the intentions to leave the Association were heard often in the past week before the decisions were finally made.

Then, in a single day, a handful of payment processors decided against participation. VISA, MasterCard, Stripe, and eBay all offer a different approach to payment systems, working on their own regulatory limitations. Libra, on the other hand, is still in the testnet stage and seen as too much risk at this point.

Bitcoin pioneer, Nick Szabo underlined the fact that BTC is still way ahead…

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