In Christopher Nolan’s classic film The Dark Knight Rises, the main antagonist Bane claimed to be working for “the people.” He went around town disrupting and upending Gotham’s social fabric to “liberate” its citizens from what he viewed as an unequal distribution of power and wealth. His character is symbolic of Facebook’s Project Libra, which on the peripheral appears to be noble, but in actuality it is a power grab by a very powerful corporation for more control over your life.Privacy should be a basic human right in any civilized society. In the digital world, we are experiencing the erosion of these rights as government agencies and private enterprises are increasingly collecting our data and using it for whatever means they see fit.Digital currencies like Libra, launched by for-profit companies, are intended to maximize profits for its shareholders and never intend to protect the user data it gathers. Transactions with Facebook’s Calibra wallet will be censored and reversed if you violate their terms of service. Ultimately, they decide how you can use their currency and will collect the transaction history from every one of your purchases to further their commercial interests.
Libra has been positioned as an alternative to government soveriegn currencies and pitched as a stable medium of exchange backed by a basket of global assets. It will be governed by a consortium of Fortune 500 companies that agreed to a $10M investment to run a node. This barrier to entry is in opposition of cryptocurrencies’ original intent.The goal of Libra is to reduce the competitive threat of Bitcoin and prevent blockchain technology from developing and surpassing existing financial systems. It’s design was intended to counter all the drawbacks of using crypto on a day-to-day basis. These challenges include lower transactions per second than current payment processors such as VISA/MasterCard, volatility and scalability.Merchants will accept Libra as a new form of payment mirroring aspects currently available with the U.S. dollar. Most money nowadays is digital as we are increasingly becoming a cashless society. Your options, outside of true cryptocurrency, will be a digital currency like the Libra or the inevitable fully digitized USD.
The permissioned network of Libra is the exact opposite of the cryptocurrency blueprint carefully outlined by Satoshi Nakamoto. It is important to make a distinction between a digital currency such as Libra and a cryptocurrency such as Litecash.A digital currency is essentially any form of money that is available virtually. This can be in the form of credit cards, reward points, gift cards or game credits.The very important qualities that determine a cryptocurrency are that they use a permissionless network based on blockchain technology and are decentralized.
http://money.visualcapitalist.com/infographic-the-properties-of-money/
Litecash was created to become the future of cash. We launched a wallet with a GPU miner this is easy for new crypto users to start mining and earn CASH. With over 95% of the total supply yet to be mined, and without any founder’s reward or premine, there is a compelling reason for early adopters to enjoy full block rewards on one of crypto’s most decentralized blockchains. No other Mimblewimble project has Bitcoin’s monetary policy without a founder’s reward.Our community is focused on getting CASH into the hands of as many people as possible. We have been branded as “The People’s Money.” The goal of this project has been real world usage on mobile. There is a significant opportunity to use Litecash in everyday life. We will be pursuing markets to educate users and embed peer-to-peer money in the everyday purchases of people around the world.Mobile is the future of digital payments. Calibra didn’t develop a desktop app or web interface because they understand most people spend the majority of their time using their cell phone. And mobile is where most of digital commerce is trending. Our iOS app is under development and Android v1 will be released shortly.Litecash’s commitment to user privacy is highlighted by leveraging the Mimblewimble Protocol developed by Beam for confidential transactions. Also, the scalability properties of a lightweight blockchain allow mobile adoption to become the final frontier for the most successful cryptocurrenices of the future.
We hope you share our common values of real world usage, privacy and fungibility and join our movement to provide the fastest crypto transactions at the “Speed of Lite.”Join our movement and meet our amazing & growing community in Discord: https://bit.ly/litecash or GPU mine with our wallet at https://lite.cash/win.zip
