Explosive Testimony Shows the real motive behind Facebook’s Libra.

In the congress testimony of Facebook’s Libra it is now known that Libra is not a Cryptocurrency, it is a Digital currency and that in itself poses a concern. Where the media giants are clearly uneducated to what a real Cryptocurrency is and what a digital asset is, they show the world how clearly uneducated and uninformed they are, and that is the real problem in this country.

Facebook is not creating a Cryptocurrency, rather it is creating a digital asset that would be governed by a select few, does this not sound familiar. Libra if it is allowed should not have a Libra association, for if it does have such an association it is not defined as Cryptocurrency rather a digital currency, that poses serious financial issues, and security issues, not just for the United States, but for the entire world.

With the actual Testimony from Mr. Marcus, it is clear that the Governing body would be the Libra Association. This in of itself, is a back door to a centralized currency for a payment tool that would stifle competition, just like the Big Tech Companies have censored American Citizen’s free speech.

Bitcoin, on the other hand, is a Cryptocurrency whose value is designed back by real math and scarcity. There are miners which solve highly sophisticated mathematical computations to provide hash power across the network, which provides security to the network. There is also the factor that each and every single transaction is verified by the miners, and no fraudulent transaction will be allowed because

the miners would not give a consensus to the transaction, and therefore would be rejected. Another factor is Bitcoin is divisible by one-hundred-million units known as a satoshi. A unit or Bitcoin is not automatically currency, for example a unit of bitcoin can be a share in a company, or it could be a kilowatt of energy, maybe a donation to education. Bitcoin is not limited to be an actual payment currency it is a technology.

The real danger is the media as well being utterly uneducated to the difference. LIBRA is not, and should never be put in the category of Cryptocurrency, because it is not Cryptocurrency. What Facebook is proposing is a complete control of not only our voice, our elections, and media, but also our finance and cannot be allowed.

“If the citizens of the United States, ever allow a central bank to control their currency, first by inflation, then by deflation, the banks and the corporations that grow up around it would deprive people of their property, and our children’s children would wind up homeless on the very continent their Fathers conquered.” - Thomas Jefferson.

These words were proven true, If we allow this to move forward the dangers of our rights and our entire world would become a disaster. Big Tech needs to be regulated, broken up and deprived of any ability to control anything as important as rights, media, and most of all money.

If we fail to prevent this the results could be disastrous for our country and prosperity.