Libra, the Superhighway to Bitcoin

Cryptozoa
Cryptozoa
Aug 13 · 3 min read

Libra will be the Fiat currency gateway to Bitcoin.

Facebook’s 2 billion plus users will soon get the ability to bank through the Facebook cryptocurrency of Libra.

Libra will do what many countries have not been able to do: provide basic banking services to everyone with a FB account in their respective countries.

Libra will furnish inroads to bank the unbanked — all those in crucial need of banking services, but are unable to get by the requirements of KYC, or unable to provide financial statements in order to obtain loans, will soon have the ability.

Two billion people worldwide do not have a bank account or access to a financial institution via a mobile phone, or any other device.~Business Insider, The world’s 2 billion unbanked, in 6 charts

The Unbanked might as well be a synonym for poor. Those without the ability to advance economically because of not having access to the financial services a bank brings, such as a creating a history of financial stability allowing the taking out of loans to spur economic activity, such as the building and growing of businesses.

At first, this is the important thing Libra will provide. For everyone else, those from so-called first world countries that already have access to financial services, Libra will simply lubricate online transactions, as Facebook benefits by becoming a sort of Central Bank of Central Banks.

The Libra pivot

Libra’s weak points are that it is definitively not Decentralized, with no fixed supply. Linked to a basket of currencies, Libra will still suffer from the shenanigans of countries politician’s playing inflationary and devaluation currency games.

Once Libra becomes a trading pair to Bitcoin, the world’s money will come pouring in. Because Bitcoin benefits from being the second true Decentralized asset. The first was Gold. And with Bitcoin being self-limited to 21 Million, it is the rarest of rare assets non-correlated with any other asset. Since we are at the only moment in history when All world currencies in use All the time are just various forms of inflationary fiat money, fiat is doomed to fail.

But not Bitcoin.

Libra’s use as internet money will then pivot from being the lingua franca of the web to the exchange token for 2 Billion plus Facebook users for capital flows to Bitcoin.

They will exchange Libra for Bitcoin because:

  • Bitcoin has a programmatically fixed supply (21 Million will ever be created). Rarest of rare priced to perfection.
  • Is Decentralized — no central point of control, distribution or governance.
  • …which rises in value as all other currencies fall

Devalue the Yuan, and Chinese citizens flee to Gold…and Bitcoin. Inflate the US Dollar, and Bitcoin rises in comparison. Institutions will reallocate 2–5% of their trillions of assets to BTC, and the parabolic rise will begin. As the Supernova of BTC value goes up against the falling values of all other World Currencies, and because Libra is simply the averaging of a basket of inflationary currencies, Libra will suffer the same fate. The value of Libra will fall in value with the inflationary currencies it averages.

Those with Libra will look at it merely as the golden ticket to purchase Bitcoin.

All those who realize that all the other world currencies Libra bases its value on are inflationary and worth less than Bitcoin, they will then speed to the exits — exchanging the worth less Libra ersatz fiat coin for the hardest of hard money of Bitcoin.


Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information.

Cryptozoa

Articles on Cryptocurrencies

Cryptozoa

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Cryptozoa

Writer for Cryptozoa.com, Altcoin Magazine, Begoner.com, GripandClip.com, et al.

Cryptozoa

Cryptozoa

Articles on Cryptocurrencies

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