David Marcus doesn’t see Bitcoin as a currency

David Marcus, CEO of the wallet of cryptocurrencies Calibra, spoke at the Conference of the Dealbook of the New York Times in New York city, where he discussed the scrutiny of global regulatory that the project stablecoin continues to face, as well as also said that the Bitcoin is digital gold, but it is not a good currency for transactions. “I don’t think in Bitcoin, because in reality it is not a great medium of exchange because of its volatility”. […] I see it as digital gold”. Marcus added that the people can hold on to BTC as an investment as with the real gold, but that the volatility of Bitcoin makes it impossible to be used as a means of payment for those who can’t afford a fall of 10% or 20% in a day. According to Marcus, the main reason why Bitcoin has not been regulated out of existence is because the regulators do not perceive Bitcoin as a medium of exchange and, therefore, a threat to their monopoly on the monetary policy. This is a key market to which Facebook aims his criptomoneda Pound and your digital wallet Calibrated. Unlike Bitcoin, the value of the pound will be linked to currencies like the us dollar and the euro, which will help you to stay stable. Marcus has been the face of the criptomoneda Pound of Facebook and the digital wallet Calibrated since the company announced the two projects in June.

Time to understand Pound

On the other hand, Marcus expressed that he hoped the scrutiny of global regulatory “almost like it really happened”. Marcus explained that he knew that the regulators would have a strong recoil, because they understand the design of Pound is “not trivial”. He said that requires a considerable investment of time to understand the separation of the Association Pound the wallet to Calibrate and Facebook. In this sense, said that Libra is designed to operate as a payment system that allows individuals access to financial services and modern digital money around the world, “not as a thing to dominate the world and control everything”. Marcus, continues to make appearances since the announcement of the project and maintains a purpose-focused continue to do so, the objective of all these multiple public appearances, including a hearing before the U.S. Senate, are summarized in an effort to stimulate the support to the efforts of cryptocurrencies of Facebook that has presented many disputes and has been presented to different regulatory frameworks. The following two tabs change content below. Venezuelan, student of the last semester of Social Communication. Attracted by the new technologies and the development that they offer to humanity.

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About the author

Caroline W.

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.