On June 24, the sixth edition of the Cryptographic Analysis video clip appeared on the BlockchainJournal YouTube channel. On the air of Xena.Exchange CEO, Anton Kravchenko told about Libra cryptocurrency, cryptocurrency options and bitcoin for $ 14,000.

The purpose of the rubric is to conduct a fundamental analysis of the industry and talk about trends that affect the cryptocurrency market. New issues are published every two weeks.

Editorial BlockchainJournal chose the most interesting moments from the stream.

About Libra cryptocurrency

Facebook did not tell anyone about the companies that are part of the Libra Association. Among them are Visa, Mastercard, Paypal, Booking, eBay and Uber. Surprisingly, the information did not hit the network.

The conditions for entering the Libra Association are complex: the presence of $ 10 million, the company in the TOP 100 Fortune or more than 100 million users. Each participant can own no more than 1% of the vote. So Facebook expects 100 companies in total.

Facebook did the right thing. The developers knew that Libra would attract the attention of Congress . If the project is built on Facebook, SEC will prohibit the launch of cryptocurrency. The project involves 26 companies at the level of Uber, Booking, Paypal and Visa. Congress will have to reckon with them and discuss options for cooperation.

About the future of cryptocurrency Facebook

Libra will be the coolest steblecoin. Bitcoin-Libra and Ethereum-Libra will soon appear on the stock exchanges. Perhaps everything will be traded to Libra. Get ready to translate the algorithms to "all to the libra."

Bitcoin is not going anywhere. Bitcoin is a decentralized network, and Libra is a centralized blockchain for the rich. Libra will not replace Bitcoin, but other cryptocurrencies will also have a positive effect on it.

On the threat of Libra to the banking sector

In 2018, there was a startup Basis. They promised to do algorithmic steyblekoin. The project raised $ 130 million, but due to inconsistencies with the SEC closed . According to rumors, Facebook took to his command Basis.

Basis and Libra are different. Basis wanted to create a central bank in which there is no dollar, a new object of calculation. Libra is a basket of currencies. It can not replace the dollar.

Facebook does not have the right to issue bonds, print and withdraw dollars. He has no regulatory mechanisms. These mechanisms will remain with the bank.

On Facebook and Telegram rivalry

The main advantage of Libra is the billionth audience. Telegram use 200-250 million people. Libra audience is 10 times bigger. These are users of Facebook, WhatsApp, Booking and other project partners. Developers will create applications for Libra.

About possible blocking of Calibra wallets

The Libra Association has a “two out of three” rule. The decision to block should support 67% of the vote. Facebook has only 1% of the vote.

Facebook can block its users. Purses are controlled by another company.

On limiting the activities of the Libra Association in China, Egypt and Cuba

Libra will not become a Western coin. Residents of China, Egypt and Cuba will not be able to use Calibra wallets, but they will have access to the exchanges. Centralized exchanges, such as Binance, are wallets themselves. If there is a pair, money can be stored on the exchange.

On the safety of personal data on the Internet

Personal data protection laws do not work. You can sign or not sign permissions, corporations still collect information.

A separate story in the post-Soviet space. If you use the American number in WhatsApp, no one will get access to your correspondence. If you use a Russian number, the correspondence can be obtained for a couple of thousand dollars.

Courts must decide against those who have leaked data. In the meantime, third parties have access to personal data through dark channels.

On the sale of cryptocurrency options Galaxy Digital

An option gives one participant the right to buy an asset, and another – the obligation to sell this asset. For an ordinary trader, an option is an opportunity to buy bitcoin at a certain price for a premium. Professionals trade in the level of volatility that is associated with an option.

A year and a half ago, Ledger X dealt with options in Bitcoin. They offered solutions for financial institutions. Then it turned out that nobody needs it. Then the options market was launched by Deribit. Their project is more retail.

Options is a standard investment bank service. Ledger X made them one and a half ago, but did not find clients. Maybe Mike Novograz will find customers.

On the adoption of the law on cryptocurrency in Russia

All laws are forced by someone. We do not know which side is the force.

There are obviously opposing sides in the Duma. Nabiullina suggests legalizing cryptocurrency. Aksakov opposes Facebook cryptocurrency in Russia.

It is important that in the Duma they begin to understand how the new economy works. For example, they realized that Bitcoin is not suitable for money laundering and terrorist financing. Over time, understanding will be more. There will be bills for the regulation of cryptocurrency.

About bitcoin price

The cost price of bitcoin remained at the level of $ 4 thousand. In 2017, he rose to $ 20 thousand. It was HYIP, growth was not supported by fundamental factors. Since then, the applicability of cryptocurrency has improved, new projects have appeared, but no fundamental changes have occurred. There are no prerequisites for Bitcoin for $ 20 thousand.

$ 10 thousand is a psychological level. Now bitcoin is trying to gain a foothold there. Bitcoin may be cheaper, but it certainly will not be cheaper than $ 4 thousand.

The market shout about HYIP, as in 2017. It is unlikely to happen. Bitcoin price will be adjusted. Maybe now he will not keep $ 10 thousand and will go to $ 8 thousand, then he will pass to the top ten again, deal with it and rise to $ 12 thousand. "Missiles" will not.

The next broadcast in the framework of the joint analysis of cryptoindustry with Xena.Exchange is available on Monday, July 8, on BlockchainJournal on YouTube . Subscribe!