Like 1960s campus radicals, Bitcoin maximalists are enthusiastically praising the wisdom of a leader of Communist China. That’s because President Xi Jinping called for his country to “take the leading position in the emerging field of blockchain.”
The Libra Association would not quite deny reports that digital payment service PayPal is withdrawing from the group, designed to oversee Facebook’s highly controversial, proposed cryptocurrency.
Just as Facebook’s Libra cryptocurrency project is facing defections from its biggest and most important partners, a recording of Mark Zuckerberg was “leaked” where he said all the right things. Coincidence?
For the past several days, Bitcoin/self-promoters have been touting the cryptocurrency as a safe haven from uncertainty in the markets. In other words, they are letting fantasy get in the way of reality.
