Is Walmart Crypto Token Better than FB’s Libra!??
For today’s news segment, I have discovered four very cool pieces of news to discuss with you. Let me give you a glance at what they are. First up, Elon Musk has just stated that Bitcoin is more ‘brilliant’ than fiat currencies when it comes to transferring money. Next, Ripple is likely to surpass Bitcoin to become the king of crypto, especially as RippleNet grows. Thirdly, Justin Sun, the CEO of TRON, alluded that they will show us an amazing second half this year. I wonder what that’s going to be? Are you eager to see what it is? And finally, the proposed digital coin of Walmart is apparently more acceptable to lawmakers than Facebook’s Libra token.
If you find these pieces of news interesting and would love to learn about all of them, then please make sure you stay with me right until the very end.
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The Market Today
Now, let’s see how the crypto market is performing. It is super amazing to see so many greens across the board today. On the top 10, all coins are doing pretty well. Bitcoin has increased 5.85% over the past 24 hours, now standing at $11,796 guys. Ethereum and XRP are also gaining by 2.98% and 0.31% respectively. Especially, Monero who is following a similar pattern which is gaining 5.37%. Moving on to the top 20, you can see a minor decrease here with a 0.69% loss from Stellar. Cosmos has increased the most today with a 3.8% boost from Monday.
Elon Musk believed Bitcoin is more ‘brilliant’ than fiat currencies
Now, let’s jump to our first news segment. According to a report on theinforadar, the co-founder and CEO of Tesla and SpaceX, Elon Musk expressed his thoughts on Bitcoin. He noted that Bitcoin is far more convenient and ‘brilliant’ than fiat money when it comes to value transfer. Now, this statement has been revealed in a podcast interview with the investment firm ARK Invest on Feb. 19. In response to a question regarding cryptocurrencies, he stated that he believes the blockchain technology together with Bitcoin, is quite brilliant. The billionaire also added that:
“If [cryptocurrency] bypasses currency controls. … Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure.” While he praised the cryptocurrency token, he also mentioned the drawbacks of this technology, saying that in order to operate and secure a computing system for this enormous network, it would be “computationally energy-intensive.”
Ripple will become the king of cryptocurrency
Moving on to the second news item for today. According to a news article on sanfranciscotribe, Bitcoin may lose its first position to Ripple because of the sheer growth of RippleNet, a network of institutional payment-providers, that is gaining rapid adoption and development. So, what could make Ripple the top of all cryptos? Ripple just recently announced a partnership with Moneygram. So what happened? It looks like Ripple purchased stocks and became a significant partner of Moneygram. This will involve Moneygram using XRP to settle transactions.
But that’s not all, Sentbe, a South Korean international money transfer company, also has a partnership with Moneygram. The Korean firm will focus on offering remittances to their client pool by utilizing the xRapid product. Furthermore, Currency Bird, a Chilean payment remittance company, also adopted xCurrent for its international settlement. While Bitcoin is currently leading the crypto ranks, its primary function is more as a store of value as opposed to a global currency. Meanwhile, Ripple and its XRP token are actually doing pretty well with its new partnerships. With more companies adopting XRP, it’ll be super interesting to see whether XRP can usurp Bitcoin as the market leader one day in the future.
TRON will have an amazing second half
And here we come to the third piece of news for the day! The CEO of TRON, Justin Sun, has just tweeted that there would be a great second half for TRX followers. Now for those who are unaware, Sun and TRON have been in hot water due to quite a large number of controversial issues in the last few weeks, from Sun’s postponement with Warren Buffett due to alleged kidney stones, to TRON’s office filled with protestors over an alleged scam that leveraged TRON’s brand name. Since these events, TRX’s price significantly plummeted, pushing it down to the 12th position. Despite this Justin Sun, still remains super pessimistic about TRX’s future, especially with the events lined up in the second half of the year. Will this help boost TRX prices? We’re not too sure. In the past, his claim that did actually come true.
“TRON will be back in the top 10 in June! BitTorrent will be in the top 30 in Q2! Let’s wait and see!”
The two cryptocurrencies soared and made their ways to reach the 10th and 30th positions, respectively. Once again, it’ll be super interesting to see what the TRON team have installed for us.
Walmart’s digital coin is better than Facebook’s Libra
Moving onto the last news item for today guys. A senior analyst at investment corporation Cowen, Jaret Seiberg, stated that the new cryptocurrency run by Walmart would receive more acceptance from the government than Facebook’s Libra token. Just earlier this month, Walmart filed for a patent for a “System and Method for Digital Currency via Blockchain.” As written in the paper, Walmart said:
“Generating one digital currency unit by tying the one digital currency unit to a regular currency; storing information of the one digital currency unit into a block of a blockchain; buying or paying the one digital currency unit.”
It looks like Walmart wants to launch its own token as well. But what makes Walmart’s coin different to Libra? Seiberg said that it might have a demographic appeal to Democratic legislators who are looking for an alternative financial infrastructure for people who do not regularly use banks. And while Facebook’s Libra, according to the lawmakers, has an international impact, or they may say threat, Walmart’s currency is on a smaller and also more controllable scale.
So what are your thoughts regarding all the news?
Are you team Musk and do you believe Bitcoin is fantastic too?
Could XRP take over Bitcoin one day?
What are Sun and the TRON team planning for the second half of 2019?
And do you think Walmart will end up launching a token before Facebook launches Libra?
Please leave a comment right below to let me know what you guys are thinking. And guys, please don’t forget to like and subscribe to go into the draw to win $70 worth of Bitcoin. It’s your girl Cindy with CryptoPig. I’ll see you guys tomorrow.
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.