Facebook’s CEO, Mark Zuckerberg is preparing to launch his cryptocurrency, GlobalCoin. The crypto sphere has since been measuring its effect on Bitcoin and other digital currencies. The impact the coin would have on all currencies globally cannot be underestimated. This makes Ran Neuner, host of CNBC’s Crypto Trader, to recently point that Zukerberg will soon become the most powerful, unelected dictator in the world.
There is a new topic parading the crypto sphere. It is the scary emergence of Facebook owned cryptocurrency, “Libra” or as it is usually called, “GlobalCoin”. Its launch is proposed to hold by the end of June 2019.
This proposed launch has initiated a bit of fear among cryptocurrency pundits and investors. They keep measuring and envisaging the threat or favour its emergence might bring upon existing digital currency, especially Bitcoin.
There were issues about unseating the usability of Ripple XRP, which is well-known for its very cheap transaction fee, scalability and unmatched fast transaction speed.
Bitcoin is also threatened due to Facebook’s enormous user-base. For a social media to possess over 2 Billion monthly active users that cannot be easily come-by is something powerful. It is believed that “Libra” would end Bitcoin’s market dominance with its huge users’ capacity.
Until now, little numbers of people weigh the challenge it exacts on fiat currencies such as US Dollar, Euro, Yen and other globally glorified national currencies.
Ran NeuNer Explains Why Mark Zuckerberg Will Soon Become the Most Powerful Dictator in the World
Ran NeuNer, the Founder at Onchain Capital and host of CNBC Crypto Trader, recently elaborated what will soon make the 35 years old Facebook’s CEO, Mark Zuckerberg, the most powerful and unelected dictator on earth.
NeuNer in series of tweets pointed to the greatness of Facebook as a social media with the largest user-base, masterminded by a young man, Zuckerberg. He praised the prominence of Facebook over the years.
He averred that its invention of GlobalCoin should be termed as scary. The fact that its enormous active users all over the world will have access to make asset transactions at will, which will clearly outpace US Dollars, is enough to make other currencies feel threatened.
He said “This Facebook crypto project is so scary. The idea that a company with the biggest user base in the world, effectively controlled by one person who keeps over ruling the board is now launching a digital currency that will allow 2bn people to transfer assets frictionlessly and Will have more users than the USD is frightening…”
Neuner concluded that Zuckerberg is actually not politically elected into any office, but he will soon become the most powerful dictator on earth, believing he will eventually control the flow of money.
“He who controls the money has the power and soon, if not already, Zuckerberg will be the most powerful, unelected dictator in the world.”
Bitcoin (BTC) and Other Cryptocurrencies in the Market
Bitcoin actually dominates the market in terms of price growth, but the trend seems to be changing now. BTC has been journeying to the top alone some hours ago, while other digital currencies seem to be facing price stagnation.
Ethereum (ETH), which is known to always replicate Bitcoin’s price growth trend is beginning to lose its grip, as it plunges below, while BTC maintains its steady price surge.
Almost all the top digital currencies fail to leverage the market dominance of Bitcoin. At press time, BTC is trading at $8,273.81, with 2.02% price increase in the last 24 hours.
Facebook’s Libra is on the way, it keeps dividing the thoughts of the crypto pundits and the public. Some believe it’ll only come to complement the existing currencies (fiat and digital), while some believe it will overthrow them. All these are speculations until it is finally launched.
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.