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‘Drop Libra for Bitcoin’, US Congressman Advises Facebook

CZ Binance Gives Facebook 3 Possible Options to the Launch of Libra

US Congressman Warren Davidson from Ohio’s 8th congressional district has given reasons why Facebook’s Libra should adopt cryptocurrency Bitcoin instead of moving on to create Libracoin.

Speaking on “Noded Bitcoin Podcast” with host Pierre Rochard, the congressman said Facebook should jettison the Libra idea and adopt Bitcoin as a global currency.

He said Facebook should follow the likes of Cash App and some other platforms making use of Bitcoin.

Davidson spoke about defending freedom and the missing regulatory framework for the growing blockchain economy, laying emphasis on Bitcoin.

Davidson became a household name during the congregational hearing on Facebook’s Libra held in July, there he introduced the house to “shitcoin”, a statement attesting to the fact that the congress house understand the cryptocurrency terrain, if not deeply, to some extent.

The congressman emphasized the important characteristics of Bitcoin and laid much emphasis on the existing “shitcoin” attempting to destroy the cryptocurrency world.

He said at the time: “A lot of people in this space will use a phrase that you may be familiar with: there’s bitcoin, and then there’s shitcoin”.

Davidson’s assertion at the event signified that he’s a Bitcoin maximalist, as Shitcoin refers to other cryptocurrency aside Bitcoin (altcoins).

Yesterday, 14th October 2019, NewsLogical covered news detailing the involvement of two US Senators in the backing out of Libra’s supposed association members, like eBay, PayPal, Visa, Mastercard, and some other big backers.

These US senators sent letters to this payment firms threatening to introduce stiffer regulatory procedures if they fail to back out from the Libra Association.

Despite the threat and the decision by the payment firms to back out, Libra has formed the said association electing four members.

Head of Calibra, David Marcus, was voted as a board member, with XAPO, PayU, A16Z, and Kiva executives elected as well.

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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About the author

Olayode Yusuff

Olayode has made meaningful contributions to Huffington Post, Thrive Global, Oracle Times, The Independent Republic, Forbes, Washinghton Post and a host of other news magazine.

He’s a blockchain enthusiast covering news on notable cryptocurrencies and seminars from far and within.

Email: olayode.yusuff@newslogical.com

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