In May 2012, the youngest female philosopher in Vietnam, posted on Muong Fourteen, leaving a quotation that later haunted many generations of Vietnamese millennials from the last generation 8x until the beginning of 2k , that “love without money, eat the land” – this philosophy exists forever, surely …

All industries are related to money, from love, intelligence to Agritech, Healthtech, Insurtech, Robotics, Ai – Machine Learning to E-commerce, On-demand-service, Fintech …

During that time, Satoshi Nakamoto, a cryptography & computer science scientist that no one knew who, supposedly living in Japan developed a technology, called blockchain, paving the way for coin issuance. Cryptocurrencies (cryptocurrencies) with the ambition to eliminate the latter is privatization of money …

His ideal, this world is equal and anyone can issue their own money … opening a global financial crisis before the monetary system has to be broken down …

He nurtured his idea after watching Abraham Lincoln read the Declaration of Independence of Hue, with the passage:

[…] “We affirm that these truths are obvious, all people are born equal, they are endowed by the Creator with certain indestructible indispensable rights, including the right to life, liberty and right to the pursuit of happiness. ”[…]

With his philosophy, Nakamoto adds the following:
… “and the right to freedom to issue their own money”.

And he did the immediate thing:

1, Bitcoin is a currency that does not rely on currency.
2, Bitcoin is his personal issue, not any central bank, state decision or manipulate at all …

The reason why Satoshi wants to do it is for a single reason, although it is difficult to do so, unless all conditions and the frame of reference are perfect, that is, eliminating “inflation”, with the desire helping the poor…

When he thought that the miserable capitalists injected money into the current flow in an uncontrolled way would distort the market and miserable humanity … the rich became richer and poorer. getting poorer …

People just need love … but “what a lot of money to do” – Dang Le Nguyen Vu said so and “where does the money” then he did not say.

(I dive into currency and inflation later, this paragraph opens it.)

Since the first transaction was credited on the bitcoin network on January 9, 2009, to date, the total value of Bitcoin transactions (Code: BTC) in the market is about 189B USD.

And the Central Bank US balance sheet indicates ~ 38000B USD (June 2019).

Thus, the current market cap of BTC against USD accounts for nearly 5%. A very small number. Of course so, this cryptocurrency market has just turned 10 years but still very primitive … Those who do blockchain, calmly do it, do not go anywhere yet, because this market has almost fallen into the hands. Chinese people already.

Until this number accounts for more than 50% and then leaps to over 70%, the entire traditional monetary and financial system will collapse, causing a global crisis … now the rich are richer, the poor are still poorer because of other countries, central banks, commercial banks … don’t sit around and watch …

This market also needs a period of great transition, the era of privatization of money and tokenized economics … The black people like us sit and watch “where the water flows to go there” …

Contrary to Satoshi Nakamoto, who has a name but has not been identified, there are two countries with no name on the world map but identified as Facebook (US) and Wechat (China) with a total population. occupy nearly half of the earth.

On June 18, Mark Zuckerberg, like many other citizens, uploaded a status,  https://www.facebook.com/zuck/posts/10107693323579671 , showing off his one step ahead of the process of “successful registration”. setting up a digital country ”, issuing Libra, a stablecoin (cryptocurrency) …

First of all, I am an anti-stablecoin because it is a game that manipulates the financial markets of capitalists who rely on blockchain and market making … to slow down the process of tokenizing economics with the privatization of money. money) should have had in the near future …

From Mark Zuckerberg’s post, I will temporarily point out the three most basic errors, but I really do not believe this is the content of Mark’s post because that is too bad or not understand tokenized economics … of course Mark was too smart to understand this so I guess Mark said that purposely just to explore the market and see the reaction of the public opinion everywhere …

03 wrong things of Mark Zuckerberg are as follows:

#first. “Libra nonprofit association … creates a new currency, called Libra” …
– Mark said “nonprofit” but the move “pump” into the market a huge cash flow that can be said , Mark’s union, “doesn’t worry” about inflation … It sounds very funny … Mark on Facebook to talk but like going to speak for new students entering university …

#2. “Many other companies will build their services using Libra – from payment services like Mastercard, PayPal, PayU, Stripe and Visa, to other popular services like Booking, eBay, Farfetch, Lyft, Spotify and Uber, until other nonprofits doing important jobs that are ultimately financially related such as Kiva, Mercy Corps and Women’s World Banking, as well as companies in the field of ‘crypto’ ”Like Anchorage, Coinbase, Xapo, and Bison Trails…. Libra is powered by blockchain technology … developed Calibra wallet “…

– So at this stage Mark just explored the market and talked about “mobile money” using blockchain technology … to listen to the public.
– Looking at the short-term list, more than half of the latter will release its own cryptocurrency. Please wait! Mark. The payment service providers are not that stupid.
(Mark talks about blockchain, I support 100%. This is a must.)

# 3. Particularly for Mark’s “country” …
“All will be built on the basis of blockchain technology. And that’s “decentralized” but says “Calibra (Libra wallet) will be controlled like other payment service providers” … “” If you lose a Libra, we will refund one Libra “…
– This paragraph is not more funny. Well, decentralized (but decentralized) and under the management of Mark as the guarantor will refund …
– Say Mark is completely centralized model.

After the earthquake Mark created, the cryptocurrency market pushed the price of BTC to nearly $ 13,000 and then returned to the shore, because all over the world simultaneously announced his plan,

1. China (Mainland China) – a country ready to fight.

After a month’s release of Libra’s Facebook whitepaper, Google Trends measured that Mainland was the place for search queries with the popularity of “Libra” being the maximum 100. This meant that Chinese people on Google searched If you look for it, there are 100 people who look for Libra 

The Nam Hoa Tao Bao newspaper (the owner is Alibaba) has snatched the headline with an official quote from Central Bank “Facebook’s Libra forcing China to step up plans for its own cryptocurrency”

Actually, CB China has been researching on cryptocurrencies since 2014, so far there has been no official announcement. Just gave out information about the so-called “digital currency” and issued a ban, curb the blockade …

Wang Xin, the director of the PBOC’s research department (People’s Bank of China: People’s Bank of China) asked a very sharp question:

“If [Libra] is widely used for payments, cross-border payments in particular, would it be able to function like money and accordingly have a large influence on monetary policy, financial stability and the international monetary system?

I mean, “if you use Libra (ie USA) and deploy Libra like that, the international financial and monetary system will collapse.” This paragraph is what I say, not translate the sentence above.

Financial experts are speculating that the PBOC associated with Huong Cang (Hong Kong) hit 100B USD to create a Stablecoin … how will be clear later.

2. G7 & European Union – the most stable countries.

Phu Lang Sa (France) led the G7 group, along with Canada (Canada), Duc Y Chi (Germany), Italy Dai Loi (Italy), Dong Doanh (Japan), Anh Cat Loi (UK) and Hue Ky ( US) to discuss something is how to have a framework of “Legal – Management – Taxation” first. Taxation is the G7 issue that is most concerned and concerned after looking at Venezuela’s “Bankruptcy Country” …

Although sitting at the table with G7 but Hue did not care, because the US always thought that the monetary system of this world was American, heaven and earth were predetermined …

Emmanuel Macron, the highly talented young president, first approved a number of Crypto issuers under the management of the financial watchdog … running the following ICOs is planned to develop its own copper. mine…

The whole system of Europe in general was built before the 1900s, Europeans do everything they plan 100 years unchanged … from the electricity infrastructure of the station to the transport, music. , painting, architecture, finance … so Macron wants to change a long way, from now on his generation is planning for the next ten years …

So basically, before the market changes like that, Europe is temporarily watching and must support.

3. Japan (Dong Doanh Nhat Trieu) – is the country that is one step ahead

No one else, Dong Doanh is one of the first countries to openly accept cryptocurrencies … because a businessman of the East is proud to be the children of the Emperor, on this bare earth, the first sunrise is in the land of Funeral.

Up to now, Ripple (XRP Code) has been approved by more than 50 banks in Japan …

Japan later not only deploy one but many cryptocurrencies …

The Japanese mindset goes against the common trend of those countries that the central bank is not the key player in this game … because they think CBs are not economical …

This idea I fully support. I have opened a small point in the article about social payment  https://www.facebook.com/hungkaka8x/posts/10156642074099563  more details I will write later.

Perhaps China was the first country to kill cash, Japan was the first country to kill the role of central banks … let’s wait and see.

4. India (Thien Truc) – the most concerned country.

Of all the countries that responded to Libra, Thien Truc was the most worried because they were afraid of losing their leverage, simply because India is the country with the largest number of Facebook users in the world, nearly half the US. . India’s population is 1.36B, nearly 270M is using Facebook, accounting for nearly 20% is also the number when comparing the whole of Thien Truc to the number of Earth people.

India told The Washington Post that it will ban Libra and is currently banning other exchanges … because India is the cradle of technology, this game Thien Truc must put their name on the Sutra Pitaka.

5. Singapore (Singapore) – is the smartest country

Below-the-line, Singapore is a small country so it has to expand Above-the-line, so Singapore has now become a Tech Hub of Southeast Asia.

Since 2015 Singapore has approved cryptocurrency projects registered in Singapore, simply to collect more taxes without having to do anything extra. So every cryptocurrency company must open a company in Singapore in addition to a license in other tax havens like BVI to legalize liquidation …

If you want to open a company in Singapore, you must have a local director, you can open a bank account and pay taxes, when operating, how many% of Singapore must be in-house … The ICOs after running the project If you want to liquidate currency, you need to pay money to Sin …

To say Singapore is the smartest country is right because Singapore takes 2 steps:

Step 1: Attract cryptocurrency companies to Sin
Step 2: Then you have to play by Sin’s rules

That means, Singapore is building the community, taking the community as a springboard to manipulate the market.

Singapore walked sideways, very cleverly … not shy with Lee Kuan Yew, in the heart of the people happy with dividends evenly divided by the government …

6. Korea (South Korea) – is a country that does not say but do

In March 2019, Samsung launched the Galaxy S10 with a built-in wallet, which is expected to issue Samsung coin soon …

For Korea, I don’t care about Libra because this market is already built in Korea. In this field, Korea for international schools rely on Samsung as a stepping stone. [Why does the US strike Huawei directly? A bit related …]

There are two countries with the highest national pride in the world, one is Japan Dynasty and the other is South Korea … so compared to the United States, Libra, Korea must not be shy.

7. Thailand (Siam) – is the fastest lightning opportunity in Southeast Asia

The Siamese people, despite their famous names, twisted their mouths but worked quickly. It can be said that while the leaders thought about the regulation of showbiz women wearing cover ups, what percentage of breasts, the Thais legalized the prostitution market (I strongly support this issue). Thai people accept crypto as fast as bringing Playboy magazine to Buddha land …

Bank of Thailand (BoT) has a prototype for central bank digital currency (CBDC) that is applied to the entire Thai banking system. This is the most standard job for a government role.

This step of Thai people is a standard that does not need adjustment, not much talk. How to operate to see …

8. Vietnam (Dai Viet) – is a country that doesn’t know where to start

Vietnam temporarily did not say because it was afraid to collide and temporarily gave a comment in this game “to follow China, not follow the US”.

I don’t “attack” anything, I love Vietnam, know I know I have won hundreds of battles. For the time being, I can only say that China did as I did, surely succeed …

9. USA (Hue States) – is the spark of war

(to be continued)

There has never been a deepest consensus in the world when it reacted to Libra, which is “banned”, fundamentally … because Mark Zuckerberg’s ambition in this digital transformation era is too much. Big compared to what the financial markets can imagine, only Satoshi would know …

Joseph Lubin, co-founder of Ethereum, the second largest cryptocurrency platform in the world, warned one sentence: Facebook’s Libra token is like “a centralized wolf in a decentralized sheep’s clothing”,

“Facebook’s Libra token is a” focused “wolf in the form of a” decentralized “sheep.

Personally, I really like Mark’s ambition, what Mark is targeting is not Libra, first targeting cross-border payment service providers, then banks in each country, then end-users …

So, I just said one sentence to Mark that Mark’s Libra phase 1 failed the whole episode, phase 2 and then continued …

Writer: Hung kaka
Edit by: Doocvii