Warren Buffet famously called Bitcoin “rat poison squared”, and according to Renaissance Macro, Facebook’s plan for a Blockchain-based Libra crypto currency will create “moral hazard on a chain”. The research gathered here indicates that Libra is in fact likely to do much better than Bitcoin in promoting mainstream crypto-currency adoption. OM Research offers the most positive view on Libra, arguing that the open architecture could yet create a virtuous circle of pressure on Washington – uniting Wall Street and Silicon Valley in support. Stratechery says that Libra’s multiple points of validation should enable it to garner greater levels of trust, while Oxford Analytica argues that banks will need to rethink their business models. But it’s hard to escape the sense of the central question posed by Gavekal: where is the incentive for regulators, who already have a strained relationship with Facebook, to accept upstart currency competition from Facebook – and what is the motivation for users to adopt it?