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These 7 numbers tell us why Facebook’s Libra scares everyone!




We have all heard the line “There is strength in numbers.” That is absolutely true when it comes to Facebook.

Why did the government suddenly take interest in cryptocurrency as soon as Facebook announced its interest with the possible introduction of Libra? While the mainstream rhetoric of recent privacy breaches and lack of trust in Facebook as a company to be ethical with user data have some truth to them, the real reason why everyone is panicking about Facebook’s move can be found in the numbers we are about to examine.

Caution: Some outrageous (maybe not) assumptions ahead


We have deliberately used some outrageous assumptions in this article. For instance, we take 70% of Facebook’s user base as “potential” users of Libra, the Facebook cryptocurrency.

From a “potential” standpoint, we could say 100% users minus the bot-driven and abandoned accounts. But we are sticking with 70%.

Bitcoin wallets, according, are around 41 million, while other sources show around 35 million. We are using 41 million for the purpose of this article.

The number of users does not automatically dictate the revenues generated; however, we are deliberately comparing the user base instead of revenue for the purposes of this article. For instance, JPMorgan Chase had $131 billion in revenue, with just 62 million users served, while Facebook generated $55 billion with a user base of over 2.5 billion.

With those housekeeping notes out of the way, let’s begin the comparison.

If Facebook were a Nation

Purely by numbers, if Facebook were a nation, it would be the largest nation on the planet. In fact, it would have been bigger than the population of China, Europe and the United States, combined.

As of 2019, Facebook’s user base is around 2.41 billion.

Recent stats put China’s population at 1.4 billion, Europe’s population at 743 million and the United States at 327 million, adding them to get a total of 2.47 billion.

Let that sink in for a second.

Facebook’s user base is bigger than China, Europe and the United States together.

Facebook as a nation
Using the total user base of Facebook, we will look at the potential of Facebook’s Libra, if it launches as planned.

These numbers don’t even account for the Instagram and WhatsApp user bases. Both these apps together have a user base of over 2 billion and growing. I do not have a personal Facebook account, but I do have WhatsApp, and I know a lot of people who will never touch Facebook but have both WhatsApp and Instagram accounts.

We hear about exodus from Facebook, never WhatsApp or Instagram.

That is the genius behind Facebook’s long-term strategy, even if they lose users from Facebook, they still have a staggering user base that keeps growing on both WhatsApp and Instagram.

If Facebook’s Libra was a currency

Sir John Hargrave noted during our interview that “the power of the United States, among other things, comes largely from the power of the US dollar.”

We agree.

As of today, the US dollar remains the most powerful currency in the world. It touches about 358 million people around the world.

However, if Facebook’s Libra were to be adopted by only 30% of its current user base, then Libra would touch 750 million people, more than twice the US dollar.

WhatsApp and Instagram could conservatively add another 20% to 40% new user base to the Libra nation. Again, a lot of people stopped using Facebook while they continue to use WhatsApp and Instagram.What happens if more than 50% of Facebook’s users start using Libra?

Cumulatively, the users joining the Libra cryptocurrency could be three to four times those that use the US dollar.

Of course, it scares the bejesus out of the governments, especially the US government. Imagine what kind of power that wields!

If Facebook’s Libra was a bank (World)

The world’s largest bank, Industrial and Commercial Bank of China, has a user base of about 607 million.

The potential user base that could one day become users of Libra, at 70% of its total user base and without counting the users who are easy converts on platforms like Instagram and WhatsApp, is around 1.8 billion. That puts Libra at three times the user base of world’s largest bank.
If Facebook’s Libra was a bank (United States)

JPMorgan Chase is America’s largest bank by revenue. JPM has a household customer base 62 million.

Following a similar logic as previously, with 70% of the Facebook’s 169 million users from the United States (and without counting the easy converts from WhatsApp and Instagram), Libra could one day have over 118 million customers. That is twice the size of the largest bank in the United States.
Facebook as a bank US

It took around 150 years to build the JPMorgan empire to make it the largest US bank by revenue with a lot of sweat, mergers, service and lobbying.

Facebook could surpass all that in less than a decade with a simple out of thin air cryptocurrency that is not even decentralized.

No wonder financial institutions are doing everything they can to put brakes on this monstrous venture.

If Facebook’s Libra was a bank (Europe)

Europe’s largest bank, HSBC, has a user base of 38 million around the world (not just Europe). While we couldn’t pull the data pertaining to the bank’s customer base in Europe, we assigned a generous 50% of total user base to Europe for the purposes of this comparison.

Facebook’s user base in Europe is around 286 million.

Same as before, we are using a figure of 70% potential Libra users (without accounting for the WhatsApp and Instagram users jumping in on Libra) from the 286 million Facebook users in Europe.

That puts Libra’s Europe customer base at 200 million. A staggering 10 times the customer size of Europe’s largest bank.
Facebook as a bank Europe

If Facebook’s Libra was AliPay for the World

AliPay, China’s most popular messenger-based payment system captures 54% of China’s market, making it the market leader. It has a user base of 608 million monthly active users.

AliPay’s revenue is around $100 million. Focused primarily in China, AliPay’s reach is somewhat restricted.

Facebook as a alipay

Facebook has a global reach (except in China), and with a user base of 2.41 billion and an assumed penetration rate of 70%, Facebook’s Libra could be three times the size of AliPay from the get-go.

We have not even scratched the surface with what happens when people who are unbanked join in because the ease and comfort of Facebook’s messenger-based settlements.

If Facebook’s Libra was to replace Bitcoin!

How can we leave bitcoin from our conversation when we are talking about cryptocurrencies? After all, it is still the king of cryptos.
Facebook as a bitcoin

While bitcoin is truly decentralized and Facebook’s Libra is a lousy copycat of a cryptocurrency concept, that will not stop Facebook’s Libra from becoming a household name.

This is because even at 41 million wallets, bitcoin’s adoption represents less than 1% of the total potential customers that could benefit from bitcoin.

On the other hand, with a direct access to over 2.5 billion people through Facebook, Instagram and WhatsApp, in a matter of months Facebook’s Libra could surpass hundreds of millions of accounts.

When it comes to technology adoption, numbers really matter.

One thing that is working bitcoin’s favor is the speed at which wallets are getting created. There were only 3 million wallets last year in July, and by July of 2019 we have over 41 million. That’s more than ten times the number of wallets.

Even at under 4% growth from 2018 to 2019, Facebook added approximately 90 million users.

In spite of flaws, breaches and plethora of issues, Facebook just marches on solely on the power of its numbers.

It sounds ridiculous, but it could be worse

facebook users volume

Imagine if and when Libra becomes functional and people are able to settle payments through its messenger, what Facebook would do to the 1.7 billion plus unbanked individuals around the world.

And as we have stated throughout the article, we have not considered the nonoverlapping user base on Instagram and WhatsApp who can be made to use Libra quite easily to the mix.

Think for a minute as to how powerful Libra could become when:

  • Over 2.5 billion users from Instagram and WhatsApp users start using Libra
  • 7 billion unbanked start receiving banking services through Facebook’s messenger with Libra
  • What if Facebook’s Libra gets integrated with other online sites, like eBay, to compete with Amazon. Integrating cryptocurrency reduces the cost (like credit card charges, etc.) and may help other shopping sites to compete with Amazon
  • Credit card companies charge anywhere from 1% to 3% on transactions. These costs eat into the profits of sellers. Integrating a messenger-based payment system could eliminate the use of credit cards and the installation of POS systems

All of these real issues that could be solved by Facebook Libra will draw more people to it.

And there you have it, a partial list of why everyone is scared of Facebook’s Libra project.

Thank you for reading the article.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.


Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

About the author

RK Reddy holds two Masters degrees, one in Accounting and another in Business Administration with over 15 years of experience in the financial services industry.

Read more about the author here.



6 Massive Benefits of Cryptocurrency



Benefits of Cryptocurrency

It is normal to be hesitant about using cryptocurrency as the medium of financial transactions. 

There is a school of thought which believes, it is a domain suitable for criminals, fraudsters, and terrorists. Cryptocurrencies allow them to maintain anonymity for discreet transactions and ransomware scams.

However, the increasing acceptance of Bitcoin as a digital currency has initiated a positive perspective around this mode. It brings a distinct set of pros for the users, making them overlook the risks tag along.

According to the Finder, a post on social media surfaces about Bitcoin every three seconds. If we do the math, it means 1203 posts pop up per hour, making it to 20 posts per minute.

A more general view on the crypto landscape speaks of its overall growth, too. Block Social tells us how cryptocurrency exchanges around the globe have exceeded 300 during 2020.

In fact, the success of crypto shows us the loopholes of the traditional banking system. If you, too, want to leap on this bandwagon and aren’t sure about your next move, this is the right place. Our blog sheds light on the positive aspects of cryptocurrency that make it a more established form of financial trade. 


1. Easy transactions

When dealing with brokers or legal representatives, you have to pay the transaction fee from time to time. This comes along with immense paperwork, commission, brokerage charges, and so much more. Using cryptocurrency eliminates the need for a middle man. The transaction changes into a one-to-one affair taking place on a secure network.

No wonder Forbes stated that adopting blockchain technology can save financial organizations around $12 billion yearly. A deduction of extra charges from third parties and reduced operations cost is saving millions for huge organizations.

Moreover, the transactions are transparent, making it easier for you to establish audit trials. There is no more confusion over who pays whom. All parties involved in the transaction know each other quite well. Accountability on each party grows.

2. Asset transfers

A financial analyst rightfully describes cryptocurrency blockchain to be a “large property rights database.” On the one hand, it helps execute and enforce two-party contracts on commodities such as real estate and automobiles. At the same time, it also facilitates special modes of transfer. 

As per Born2Invest, Bitcoin alone is responsible for an average of 350 000 daily transactions on the Blockchain. Meanwhile, Coinbase has 30 million cryptocurrency users (Block Social). The increasing figures of each crypto speak of its acceptance worldwide.

The parties involved in asset transfer can design contracts and add third-party approvals at a later date. It also helps to reference the external facts and gives the parties exclusive governance of their account. It reduces the time and money involved in asset transfers. Perhaps this is why US federal government spending on Blockchain shall reach $123.5 million by 2022.

3. Confidential transactions

Cryptocurrency purchases remain discreet. Unless a user voluntarily publishes his transactions, the purchase is never associated with their identity. In official scenarios, such as when you put your cars for sale, the parties must reveal an association with their cryptocurrencies. It helps to establish trust and relevance.

Within the cash/credit system, your entire transaction history turns into a reference document for the banks/credit agencies involved. On the contrary, cryptocurrency is a transaction that is a unique exchange between two parties. They can negotiate and agree on preferable terms. The information exchange takes place on the “push” basis. This means you transmit only that which you wish to send to the recipient and nothing else.

It keeps your financial history secure and guards you against identity theft. Chances of which are quite high under the traditional transaction system. 

On top of this, the combination of Blockchain with IoT is considered revolutionary by the experts. This has accelerated data exchange, lowering the operation costs, and improved the security of files. Your Tech Diet predicted that 75% of the IoT industry would adopt Blockchain technology by the end of 2020. Lack of exposure is, thus, something the entire industry is looking for.

4. Transaction Fee

You have probably faced hefty monthly account statements from your bank/credit companies. The transaction fee charged at every transaction you have made might leave you shocked. The whopping fee of multiple transactions can take you by surprise at the end of each month.

In the case of cryptocurrency exchange, the data miners receive their share from the cryptocurrency network involved. Transaction fee does not apply as the remote and separate computer systems that do the number-crunching get a pretty fair share. 

According to Investopedia, the Bitcoin reward for miners halves for every 210 000 blocks added to the chain. Nonetheless, this system has freed the transaction parties to pay the fee, making it the most feasible. 

However, there might be some external fee involved if you engage a third-party management service to maintain the crypto wallet. These charges are likely to be quite less than the transaction charges levied by the traditional banking system. 

5. Hold Ownership

The traditional banking system works in a manner where the amount goes to the nominee if a person passes away. The chances of the account closing are quite high when you infringe the terms of their services. Unlike this framework, digital currencies give you the sole ownership of private and public encryption keys. This makes it easier for you to identify the encryption network.

6. High security

Once a party authorizes the cryptocurrency transfer, they cannot reverse it. This is not the case in “charge-back” transactions allowed by the credit companies. Cryptocurrency gives you reliable encryption throughout the transaction process to keep it protected from bugs and malicious entities.

Systems like Binance Smart Chain are enabling people to do more with BTC.

Final Thoughts 

Cryptocurrency is taking the financial world by storm, and we know the reasons why. It is about time you kickstart your digital finances journey and make the most out of it. Who knows what surprises are about to come later in this landscape!

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020


Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Cardano or PolkaDot? Which One to Invest In?



Cardano vs Polkadot

There is a new battle in the crypto space.  Cardano (ADA) and PolkaDot (DOT) maximalists are headbutting as to which project is better and why.

The conversations are intense to say the least and we will try to provide our view on which one we are leaning toward and the reasons why, in this rather short article.

Just to be clear, we are invested in both ADA and DOT so we have a vested interest in both projects, however, we are now asked to pick one over the other and that brings us to this article.


The whole spirit of cryptocurrencies is the concept of decentralization, however, some of the more popular projects don’t seem to have a grasp of what that means.

Diem (previously Libra) or XRP etc., are controlled by a group for validators who could, in theory, easily collude, in our view.

With DOT, things are not as centralized as some other projects with about 1000 validators securing the platform.

However, ADA has the most number of nodes and has most of its circulating supply staked on its wallet. The community behind ADA has biggest proponents of decentralized frameworks.

ADA: 8 (top 10 is reserved for BTC)

DOT: 6


Cardano boasts the maximum number of Ph.Ds on its team and has a more decentralized team structure.  You have teams that are working exclusively on wallet and staking while you have other teams focusing on interoperability. Yet, another team is focused on bridging projects from Ethereum to Cardano.

DOT has the ammunition of Gavin behind it. He is undoubtedly one of the brilliant minds in the space. 

However, as we learned in basic math, sum total is always greater than an individual unit.  This applies more aptly with these projects. In our opinion, Cardano has a greater edge when it comes to collective human capital.

Having Charles Hoskinson helps ADAs impression.

ADA: 8

DOT: 6

Social presence

There is no competition when it comes to social presence and engaging the community when it comes to the leaders of these two projects.

While DOT’s founder Gavin might come out as eccentric and polished in the social media, Charles takes the cake in engaging with his audience and making things sensible for the community.

ADA: 9 

DOT: 7

On a mission

Whenever you hear Charles speak about ADA you will immediately understand that he is on a mission to bring the marvels of blockchain enabled financial services to all corners of the world.

Cardano’s team is now focused on the South Africa continent to bring the under-previleged onto the world commerce through their platform. They are even close to signing a contract with Ethiopia government in 2021.

While DOT is catapulting the entire space forward it just lacks the same charm that comes with a project on a grandiose mission.

ADA: 8

DOT: 6 

Miscellaneous considerations 

Market cap: ADA has $20 Billion market cap while DOT has $19 Billion, as such they are on par with each other when it comes to valuation. The large cap is a stamp of approval from the crypto community.

Price: ADA is at around 60 cents while DOT has been stabilising at $20 at the time of this writing. When the newbies come to the market and they see they cannot afford Bitcoin or Ethereum, they will most likely go after the projects that are under $1. This does not mean DOT is inferior, it is just an edge that low priced tokens have over higher priced projects. It’s just a newbie mindset that drives higher demand during bull runs to lower priced projects.

Inflationary supply

DOT has an inflationary supply model while ADAs supply is capped.

Yes, DOTs supply is far larger than DOT, however, there is no new minting on ADA when compared to DOT.


DOTs technology is operational and is onboarding projects already.  ADA is scheduled to launch its mainnet this month (Feb 2021). ADA has been in works for many years now and if their product matches the hype and the wait – then it may not matter as much that they are late to the party. However, if there are issues with their mainnet – it may not bode well for ADA.

Conclusion: Total score

ADA: 33

DOT: 25

If you are a DOT fan you might think this score is skewed.   If you are an ADA fan you might think it should score perfect points in all fronts.

In fact, there are some areas where DOT is a clear winner like having a functioning platform. ADA, in our opinion, takes the prize with clear fandom, gigantic mission and a total brainiac project. 

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020


Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Best of the Best YouTube Channels to Follow for your Crypto Fix



Best Crypto Youtubers

There are literally 100s of crypto-experts on YouTube who claim to have cracked the secret code that can make you millions in crypto riches. 

Who should you follow?  

We have followed many YouTubers, subscribing and unsubscribing to avoid the noise and after having been in this space for over 4 years, we have narrowed our favorite crypto YouTube channels to just a few.

In this article, we will show you our favorite YouTubers and what we like about each one of them. 

Overall number 1: Coin Bureau

coin bureau When it comes to deep analysis, composed demeanor and outright professional crypto channel in the entire space, we have not come across anyone better than Guy.  

Not only is he great at the reviews and in depth analysis, if you have followed the channel long enough you will realize that he reviews the gems long before others pick on the momentum.  

He picks solid projects, never shills a shitty project to his followers and is upfront about his views which he backs up with solid research.

This is the best no-shill and no bull crypto channel on YouTube in our view.

Best original content: Chico Crypto

chico crypto review

If you love a bit of quirky, goofy and somewhat out there viewpoints on the crypto space then there is no one better than Tyler at Chico Crypto. 

His investigation stretches the boundaries of research (and sometimes common sense) but he does do a bang up job on every video.  

I am yet to come across a boring video on this channel.  I will admit that his live streams can be a drag sometimes but his followers seem to relish his presence.

You may not like or agree with what Tyler presents on this channel but you will absolutely be floored by the originality.   

Best TA: TIED: Crypto Capital Venture & Tyler S

                         Crypto Capital Venture Tyler S crypto

With under 90K subscribers at the time of this writing, Dan may not be the most popular of the Crypto channels [yet] but his TA analysis is just so easy to follow.

Dan makes it easy for non-technical folks to understand what’s going on in the market in the language of TA.

There are other folks on YouTube who are good at TA but their videos are so obnoxious that they leave you with a massive headache.  

Not Dan’s Crypto Capital Venture channel.   Dan walks you through the markets in such a calm, composed and professional manner that you might start caring about those candles.

We are forced to share the Best Title for crypto TA on YouTube with Tyler S. 

Tyler’s expertise on TAs is quite awesome and he has a funny way of delivering it too.  

Best expertise on the markets: Alessio Rastani

Allesio RastaniIt doesn’t matter if you are just lurking around the crypto markets or if you trade in the traditional markets…Alessio is one of the best guys on YouTube for great insights into the broad market and its impact on Crypto.

While everyone on YouTube (not the people on this list, of course) is either quick to FOMO or FUD, Alessio is just grounded in fundamentals and technicals.

When you are high on FOMO, he can bring you to the ground.

When you are getting buried in FUD, he can lift you up with facts, not false hopium.

Alessio is personable, professional and an honest guy to follow to understand the markets ahead of others.

Best round up of the market: AltCoin Daily

Altcoin DailyWant to stay up-to-date on what’s happening in the crypto space but don’t have time to keep up?  

Fear not. AltCoin Daily got you covered.

This channel is just a gem among the channels that bring crypto market updates in a concise and palatable format.

You can sense the dedication in the way Austin brings the updates and his opinions in front of his audience. No wonder the channel has recently hit over 420K subscribers.

Best humble and honest take: Crazy 4 Cryptos

Crazy 4 crypto

What does Crypto mean to you?

Most people will say ‘Freedom’, yet, most of the YouTubers we see on the Tube will be broadcasting from their bedrooms or backyards (nothing wrong with that) but not Dave.

He has been in Thailand and streams his videos directly from the beach.

You will immediately connect with his simpleton style and honest reviews.  

He has been touting about Theta when it was trading in cents and now those who followed him are very happy.

Besides Theta, Dave talks about a lot of topics in terms of storing your coins, being careful with people and how to have a long-term plan in space.

Honorable mentions

Team Underground (TA)

We had too many channels to weed out for the TA category and that is why we had to pick two winners, however, Team Underground is a channel we cannot skip.

This underdog channel has been more right about the calls than any other mainstream channel. If you like your TAs and technical side of crypto – be sure to check this channel out.


People either love him or hate him.  There is no middle ground when it comes to BitBoy.  

Personally, we have to weed out a lot of noise while browsing through his channel since he picks a new project every few days (or weeks) and can become overwhelming. 

However, the fresh content is worth the watch.


The guy behind this channel is truly vested in the space. So much so that he recently launched his own crypto project.

It’s definitely refreshing to see the YouTuber taking his expertise into a live project.  

The reason we did not list this channel on the BEST list is because of the constant feed of projects he pitches that is a bit overbearing for our taste.  

Nevertheless, a great channel and great recommendations.


There are 100s of YouTube channels out there but not everyone is worth your attention. We hope you found some channels of interest through this article.

Note: if we missed any gem of a channel, please let us know and we will be more than happy to add it after review.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020


Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading