Bitcoin, Facebook and the End of 20th Century Money
“There is never a dull moment in the world of blockchains and cryptocurrencies.
The two earth-shattering stories of the past two weeks – the launch of the Libra project and the wild swings in the bitcoin market – might seem like unrelated topics. And, for the most part, the causal impact of the former on the latter is probably not much greater than that of another oft-noted bitcoin price correlation: the avocado chart.
However, the coincidence of these two developments does speak to how globally impactful Satoshi Nakamoto’s invention has now become.
From that wider perspective, these two developments are not at all unrelated. Indeed, they both capture elements of a massive, worldwide financial transformation, all happening at a time of growing economic uncertainty.”