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Ripple’s XRP Is Better Idea for the World than Libra, Hints Cory Johnson from SLAM, Vibe and TheStreet.com

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  • Yuri Molchan
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    The famous journalist responds to the tweet of a Bloomberg Bitcoin critic who plans to discuss Libra with theauthor of “The Code of Capital” on the “What’d You Miss” show

Ripple’s XRP Is Better Idea for the World than Libra, Hints Cory Johnson from SLAM, Vibe and TheStreet.com
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Cory Johnson, a magazine writer, forensic analyst, crypto influencer and investigative journalist, editor at SLAM, Vibe and TheStreet.com, believes that Ripple and XRP is the only crypto that you can actually report about, while when it comes to the rest of the crypto industry, it is merely guessing. The tweet came as a response to the Libra issue.

 

Bitcoin critic Joe Weisenthal discusses Libra on his “What’d You Miss" show

Cory Johnson’s tweet came in response to the post of the Bloomberg TV anchor Joe Weisenthal. On October 24, Weisenthal  said on his Twitter page about having Katharina Pistol, the author of “The Code of Capital” book, on his show “What’d You Miss” to discuss Libra, apparently in the light of the recent testimony of Mark Zuckerberg to the US Congress.

Earlier, U.Today wrote about Joe Weisenthal's anti-Bitcoin series of tweets and the eToro’s chief analyst, Mati Greenspan, publishing an open letter to him in response.

At the show, Katharina Pistol stated that Libra can bring danger of corporations getting the control of the new global payment system, saying that basically Facebook is conducting the pro-Libra campaign, talking to the regulators. This means, as per her, that the social media giant will be the decision-maker when it comes to Libra and not the Libra Association.

Having said that, Pistol admitted that the current system of transnational payments has been outdated and that the banks need to upgrade it.

Pistol's recent tweet suggests that her attitude towards Libra and to any similar payment system is suspicious.

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Does Cory Johnson suggest Ripple instead of Libra?

Judging by the tweet Johnson published as a comment to the Bloomberg talk on Libra, it is possible that he suggests Ripple's XRP  to be the answer to the current issues of the transnational payment system in the US and globally, rather than Libra.

As a reminder, Ripple has recently been testing its new On-Demand Liquidity product (formerly known as xRapid) with MoneyGram on the largest Mexican exchange Bitso. Besides, Ripple has set up an office in Washington, DC for a closer dialogue with regulators regarding blockchain and crypto.

 

What are your thoughts on Ripple as an alternative to the current system of international payments? Share them in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies

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  • Alex Dovbnya
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    Holding Bitcoin as a collateral is the next big use case for the top cryptocurrency

Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies
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According to cryptocurrency influencer Chris Burniske, both Bitcoin and Ethereum already represent formidable collateral economies.

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Moving beyond a medium of exchange

In his earlier tweet, Burniske also predicts that holding Bitcoin as a collateral could eclipse its medium of exchange (MoE) use case.  

He even goes as far as claiming that Bitcoin could morph into an off-chain collateral for the world. 

Burniske states that Ethereum has already created a burgeoning collateral economy around it. Apart from extending its utility beyond a pure MoE, this could also drastically decrease the coin's volatility because of all DeFi use cases.   

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Ethereum (ETH) Price Undergoes Bullish Consolidation, Says Prominent Crypto Trader

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The next big thing in crypto

As reported by U.Today, Genesis Capital, a subsidiary of Digital Currency Group (DCG) that rules the roost in the cryptocurrency lending sector, had a record-breaking third quarter with a whopping $870 mln in new originations. 

In Q3, Bitcoin remained the best collateral for crypto with fiat money and altcoins breathing down its neck. The share of USD loans increased by 25 percent quarter-over-quarter.

However, a group of Wall Street traders made a dire warning about crypto lending, claiming that the breakneck speed of its growth could result in another crypto bubble. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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