{"id":394054,"date":"2019-08-23T19:00:15","date_gmt":"2019-08-23T19:00:15","guid":{"rendered":"https:\/\/wncen.com\/?p=394054"},"modified":"2019-08-23T16:47:24","modified_gmt":"2019-08-23T16:47:24","slug":"cnbc-analyst-slams-facebook-libra-champions-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cnbc-analyst-slams-facebook-libra-champions-bitcoin\/","title":{"rendered":"CNBC Analyst Slams Facebook Libra, Champions Bitcoin"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Since the announcement of Facebook\u2019s <a href=\"\/tag\/libra\" rel=\"nofollow\">Libra<\/a> cryptocurrency, the crypto market and even the tech sector has never been the same. It\u2019s got regulators up in arms about <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a>, crypto assets are crashing, and the project may not ever even see the light of day. Even partners have started to abandon the project.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The topic came up during a recent segment on CNBC\u2019s Squawk Box, and one of the show\u2019s hosts went on a rant, slamming Facebook\u2019s crypto project while championing Bitcoin for having more desirable qualities than Libra.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Joe Squawk: Bitcoin is Decentralized, Libra Is Controlled By Zuckerberg<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Bitcoin is arguably the most powerful piece of technology the world has ever seen. Its significance is undeniable, and those who are skeptical tend to come around eventually once they dive under the surface and gain a deeper understanding of the crypto asset\u2019s potential.<\/span><\/p>\n<p style=\"text-align: center\"><strong><em>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/07\/29\/cnbc-host-pushes-bitcoin-cites-halving-and-scarcity-as-catalyst-for-55k-btc\/\">CNBC Host Pushes Bitcoin, Cites Halving and Scarcity As Catalyst for $55K BTC\u00a0<\/a><\/em><\/strong><\/p>\n<p class=\"p1\"><span class=\"s1\"><a href=\"https:\/\/www.cnbc.com\/squawk-box-us\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">CNBC Squawk Box <\/a>host Joe Kernen is the perfect example of a Bitcoin skeptic turned believer. The once crypto pessimist has been recently seen defending Bitcoin and talking of the next potential price peak occurring around the next halving in May 2020.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The many reasons why <a href=\"https:\/\/twitter.com\/JoeSquawk?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@JoeSquawk<\/a> hates libra and (presumably) loves bitcoin <a href=\"https:\/\/twitter.com\/hashtag\/btc?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#btc<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/decentralized?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#decentralized<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/facebook?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#facebook<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/privacy?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#privacy<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24FB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$FB<\/a> <a href=\"https:\/\/t.co\/PTPEZQguRf\" rel=\"nofollow\">pic.twitter.com\/PTPEZQguRf<\/a><\/p>\n<p>&mdash; Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/74743552?ref_src=twsrc%5Etfw\" rel=\"nofollow\">August 23, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">In the latest segment of CNBC\u2019s Squawk Box, the discussion turned to the topic of Facebook\u2019s Libra cryptocurrency \u2013 a polarizing project from the social media powerhouse that\u2019s got financial regulators in defense mode.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Kernen says he\u2019s never understood the project and doesn\u2019t like it \u201cone bit.\u201d<span class=\"Apple-converted-space\">\u00a0 <\/span>He doesn\u2019t like that its \u201ccentralized\u201d, and like many, doesn\u2019t like it because it\u2019s \u201cFacebook.\u201d<\/span><\/p>\n<blockquote>\n<p class=\"p1\"><span class=\"s1\">\u201cI don\u2019t like anything about it,\u201d Kernen said.<\/span><\/p>\n<\/blockquote>\n<p class=\"p1\"><span class=\"s1\">He warns that although <a href=\"\/tag\/facebook\" rel=\"nofollow\">Facebook<\/a> claims it will have a positive impact on the unbanked, the company is an intermediary, and will take a cut from its users even if its feeless \u2013 by stealing \u201call your private data and know all about your bank account.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Facebook has faced a number of privacy-related lawsuits and recently was ordered to pay an unprecedented $5 billion penalty over privacy issues. Bestowing the company with any personal data is a risk, let alone sharing monetary and transaction data with the corporation.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Kernen turns the conversation toward <a href=\"https:\/\/wncen.com\/2019\/07\/31\/ripple-crypto-controversy-facebook-libra\/\">Bitcoin<\/a>, claiming it has an unforgeable value similar to gold, or antiques \u2013 things that cannot be duplicated. Bitcoin\u2019s hard-coded digital scarcity gives the crypto assets an attribute similar to gold.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |<a href=\"https:\/\/wncen.com\/2019\/07\/18\/secretary-mnuchin-cnbc-bitcoin-criticism\/\"> CNBC Analyst Calls Secretary Mnuchin Out on Bitcoin Criticism<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">In the past, Kernen has argued that decentralized networks offer more inherent value than even governments due. Facebook\u2019s Libra is the perfect example of how a centralized crypto asset offers the controlling party too much power over its users. Bitcoin was designed to be the first-ever decentralized asset that cannot ever be controlled, nor can it ever be stopped.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since the announcement of Facebook\u2019s Libra cryptocurrency, the crypto market and even the tech sector has never been the same. It\u2019s got regulators up in arms about Bitcoin, crypto assets are crashing, and the project may not ever even see the light of day. Even partners have started to abandon the project. The topic came up during a recent segment on CNBC\u2019s Squawk Box, and one of the show\u2019s hosts went on a rant, slamming Facebook\u2019s crypto project while championing Bitcoin for having more desirable qualities than Libra. Joe Squawk: Bitcoin is Decentralized, Libra Is Controlled By Zuckerberg Bitcoin is arguably the most powerful piece of technology the world has ever seen. Its significance is undeniable, and those who are skeptical tend to come around eventually once they dive under the surface and gain a deeper understanding of the crypto asset\u2019s potential. Related Reading | CNBC Host Pushes Bitcoin, Cites Halving and Scarcity As Catalyst for $55K BTC\u00a0 CNBC Squawk Box host Joe Kernen is the perfect example of a Bitcoin skeptic turned believer. The once crypto pessimist has been recently seen defending Bitcoin and talking of the next potential price peak occurring around the next halving in May 2020. The many reasons why @JoeSquawk hates libra and (presumably) loves bitcoin #btc #decentralized #facebook #privacy $FB pic.twitter.com\/PTPEZQguRf &mdash; Squawk Box (@SquawkCNBC) August 23, 2019 In the latest segment of CNBC\u2019s Squawk Box, the discussion turned to the topic of Facebook\u2019s Libra cryptocurrency \u2013 a polarizing project from the social media powerhouse that\u2019s got financial regulators in defense mode. Kernen says he\u2019s never understood the project and doesn\u2019t like it \u201cone bit.\u201d\u00a0 He doesn\u2019t like that its \u201ccentralized\u201d, and like many, doesn\u2019t like it because it\u2019s \u201cFacebook.\u201d \u201cI don\u2019t like anything about it,\u201d Kernen said. He warns that although Facebook claims it will have a positive impact on the unbanked, the company is an intermediary, and will take a cut from its users even if its feeless \u2013 by stealing \u201call your private data and know all about your bank account.\u201d Facebook has faced a number of privacy-related lawsuits and recently was ordered to pay an unprecedented $5 billion penalty over privacy issues. Bestowing the company with any personal data is a risk, let alone sharing monetary and transaction data with the corporation. Kernen turns the conversation toward Bitcoin, claiming it has an unforgeable value similar to gold, or antiques \u2013 things that cannot be duplicated. Bitcoin\u2019s hard-coded digital scarcity gives the crypto assets an attribute similar to gold. Related Reading | CNBC Analyst Calls Secretary Mnuchin Out on Bitcoin Criticism In the past, Kernen has argued that decentralized networks offer more inherent value than even governments due. Facebook\u2019s Libra is the perfect example of how a centralized crypto asset offers the controlling party too much power over its users. Bitcoin was designed to be the first-ever decentralized asset that cannot ever be controlled, nor can it ever be stopped.<\/p>\n","protected":false},"author":517,"featured_media":394090,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1368,6664,1985,48424,2752,47300],"class_list":["post-394054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-cnbc","tag-crypto","tag-facebook","tag-joe-kernen","tag-libra","tag-squawk-box"],"acf":[],"yoast_head":"\n<title>CNBC Analyst Slams Facebook Libra, Champions Bitcoin<\/title>\n<meta name=\"description\" content=\"Since the announcement of Facebook\u2019s Libra cryptocurrency, the crypto market and even the tech sector has never been the same. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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