Thanks to a well-placed leak, on the side of the German Money 2020 summit, we recently learned that Facebook’s GlobalCoin White Paper will be revealed in a few days. From the same source, it would seem that the GlobalCoin project may prove to be even more ambitious than expected (we are talking about physical distributors and salaries paid in cryptocurrencies). If everyone agrees to consider this future launch as a major event in the field of crypto, analysts say: some altcoins could be outright swept by the coming storm, including industry stars like Ripple (XRP) or LiteCoin (LTC)!
Giants with clay feet?
Ripple (XRP) is a behemoth of the crypto MarketCap. With its $ 17 billion capitalization, which gives it an impressive 3rd place among the most important cryptocurrencies on the market, this corner that we sometimes qualify – not without a certain contempt – of ” bank crypto » is prominent in many investor portfolios around the world.
As a price for glory, it is one of the currencies that hackers are most likely to set their sights on, as recent news shows.
The importance of LiteCoin is of a different nature. If its total capitalization is impressive (more than 7 billion dollars, 4th place in the world, struggling with Bitcoin Cash (BCT)), it’s mainly his seniority and his reputation that make it an iconic value. Indeed, forged on a fork blockchain Bitcoin (BTC), from 2011 by the famous Charlie Lee, a former Google, this cryptocurrency enjoys the respect of the pioneers of the sector!
It’s customary to say that if Bitcoin represents “digital gold”, Litecoin is definitely the money!
Do you know the main point in common between these two cryptocurrencies? Their value proposition stems primarily from the promise of speed of their transactions (Ripple aims to ringardize the banking system SWIFT and Litecoin has roughly divided the validation time of its blocks by 4, compared to its model, Bitcoin).
However, this argument could incessantly become ineffective with the landing of an Electronic currency, with a global ambition and which will necessarily try to occupy this niche: the GlobalCoin from Fadebook!
GlobalCoin, an existential threat for many Altcoins
In any case, this is the conviction of the analyst Max Keizer, reported by CCN.com
“FaceBoook’s global stablecoin, FaceCoin will avoid using hundreds of altcoins, including XRP. The apocalypse of altcoins is near. “Tweet from Max Keizer, June 7, 2019
Indeed, if the technical details remain to be discovered, the fundamentals of the value proposition of the future GlobalCoin are clear: offer an ultra-fast electronic currency to be exchanged worldwide, without exchange or transaction fees… Precisely the ambitions of cryptos like XRP, LTC and many other altcoins!
Bitcoin, big winner in the operation
If Max Keizer doesn’t cost a lot of cryptocurrencies, nerdy by GlobalCoin before he could even demonstrate their capabilities, he has no concerns for Bitcoin, which he says works on mechanisms that protect him from all competition, however aggressive it may be.
Better yet, the analyst believes that the release of GlobalCoin, if it will necessarily recompose the industry as a whole, will only strengthen Bitcoin’s role as a store of value. Keizer insists: “Bitcoin rivals gold, not fiat. ” A study by Bloomberg reminded him even recently: only 1.3% of Bitcoin exchanges are for a commercial transaction.
In other words, for the time being Bitcoin owners seem to make fun of the lack of liquidity in digital assets, or even its slow transaction: Bitcoin is considered a long-term speculative investment and, like the gold bar deposited in the safe of a bank, nobody requires it to be exchangeable at the lightning speed (even if Lightning Network plans to bring him this extra power).
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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