I believe Libra will receive enough regulatory push-back to make Mark Zuckerburg and his friends in Silicon Valley stop.
Topic: Facebook coin is not a threat for Bitcoin - page 8. (Read 4282 times)
No launch, no threat.
I believe Libra will receive enough regulatory push-back to make Mark Zuckerburg and his friends in Silicon Valley stop.
I believe Libra will receive enough regulatory push-back to make Mark Zuckerburg and his friends in Silicon Valley stop.
At first place, who said that it is a thread for Bitcoin 
.
I think that Libra coin is just another altcoin that will help to spread the knowledge regarding cryptocurrency. Since this is Facebook coin and many are using Facebook around the world, many will become curious about it and will do some research on it then they will decide if they will invest or not.
.I think that Libra coin is just another altcoin that will help to spread the knowledge regarding cryptocurrency. Since this is Facebook coin and many are using Facebook around the world, many will become curious about it and will do some research on it then they will decide if they will invest or not.
How Libra is different from other Stable Coins?
closed source, private blockchain and in one word centralized coins don't have to be pegged to anything. the company that owns them decides their prices and if they say it is worth $X then it will be worth $X without needing anything else.
it is like arguing how is PayPal a stable coin! they take your dollars and give you equivalent in PayPal tokens on their centralized database. that is exactly what Facebook coin will do.
Purpose of Libra Coin (Facebook Coin)
Facebook aims to reach 1.7 billion people across the world, especially the ones who still don’t have their accounts in any of the banking institutions. They want money to be as accessible as sending a text message. Its main motive is to reach the section of the society who doesn’t have easy access to the financial institutions. As per the FDIC (Federal Deposit Insurance Corporation) estimates, in the U.S., more than 8 million households are unbanked. The currency’s potential reach is beyond the United States and includes all the parts of the world.
Libra is backed by most of the prestigious financial institutions like PayPal, Visa, MasterCard and other companies like Uber, Lyft, Spotify, Ebay and Andreessen Horowitz. Facebook aims to make Libra available through Whatsapp and messenger users, who can cash their local currency to buy Libra. With Libra, FB users would be able to exchange their dollars for Libra tokens, hence entrusting the fellow backers with building a reliable ledger of all the transactions, as said by Kelly, CEO, and founder of BKCM and BTC expert.
If so, then why should investors buy Libra? There are already stable coins in the industry. It won't make any difference to the crypto market.
How Libra is different from other Stable Coins?
Stable coins like Tether, TUSD, USDC, PAXOS, and others are pegged to a single fiat currency. But in case of Libra, it is not pegged to a single fiat currency, but backed by a basket of assets denominated across 4 fiat currencies: USD, EURO, GBP and JPY.
Libra will be backed by a fiat currency if the following standards set by the Libra Reserve are met:
1 Only fiat currencies with a free float will be eligible while the ones that are soft-pegged would be redundant in the Libra reserve.
2 The decision-making process should be tied to either public organizations like Central banks or a free accessible asset like commodities.
3 The fiat assets must be universally recognized across various jurisdictions to have a programmatically quotable value.
Article source: https://coinswitch.co/news/facebook-launches-libra-coin-what-can-you-expect-latest-libra-coin-news
Facebook aims to reach 1.7 billion people across the world, especially the ones who still don’t have their accounts in any of the banking institutions. They want money to be as accessible as sending a text message. Its main motive is to reach the section of the society who doesn’t have easy access to the financial institutions. As per the FDIC (Federal Deposit Insurance Corporation) estimates, in the U.S., more than 8 million households are unbanked. The currency’s potential reach is beyond the United States and includes all the parts of the world.
Libra is backed by most of the prestigious financial institutions like PayPal, Visa, MasterCard and other companies like Uber, Lyft, Spotify, Ebay and Andreessen Horowitz. Facebook aims to make Libra available through Whatsapp and messenger users, who can cash their local currency to buy Libra. With Libra, FB users would be able to exchange their dollars for Libra tokens, hence entrusting the fellow backers with building a reliable ledger of all the transactions, as said by Kelly, CEO, and founder of BKCM and BTC expert.
If so, then why should investors buy Libra? There are already stable coins in the industry. It won't make any difference to the crypto market.
How Libra is different from other Stable Coins?
Stable coins like Tether, TUSD, USDC, PAXOS, and others are pegged to a single fiat currency. But in case of Libra, it is not pegged to a single fiat currency, but backed by a basket of assets denominated across 4 fiat currencies: USD, EURO, GBP and JPY.
Libra will be backed by a fiat currency if the following standards set by the Libra Reserve are met:
1 Only fiat currencies with a free float will be eligible while the ones that are soft-pegged would be redundant in the Libra reserve.
2 The decision-making process should be tied to either public organizations like Central banks or a free accessible asset like commodities.
3 The fiat assets must be universally recognized across various jurisdictions to have a programmatically quotable value.
Article source: https://coinswitch.co/news/facebook-launches-libra-coin-what-can-you-expect-latest-libra-coin-news
Hello everyone so now i want to share a very good information with that the facebook community says the the price of facebook will be stable like a USD so its mean that there is no threat for bitcoin because all investors want that they gain more profit in short time that is why they invest their money in bitcoin because the btc price is fluctuated and for good investment need the unstable price.
So it will be a stable coin? I read their whitepaper and this point was very vague to me. I really couldn't understand the use of Libra. Just that it will be used as a financial instrument.
If so, then why should investors buy Libra? There are already stable coins in the industry. It won't make any difference to the crypto market.
Nobody thinks Facebook Libra will be a treat to btc because they are not in the same league, the only thing i see about libra is that there are lots of media attention to it unlike other alts, Ofcours fb itself is well known social media platform used by millions all over the world and that makes Libra have an edge over others.
who said it is?
the only reason why there is a lot of talk about it is because of the news sites that were desperately waiting for something to write about and that has been bringing a lot of newbies attention to this coin, which in my opinion should not even be called a coin. we should call it a centralized online payment processor.
by the way it has nothing to do with price and bitcoin is not an investment, if it were then its price would have tanked hard a long time ago just like how altcoins get dumped and never recover again since altcoins are purely for investment and have no other usages.
the only reason why there is a lot of talk about it is because of the news sites that were desperately waiting for something to write about and that has been bringing a lot of newbies attention to this coin, which in my opinion should not even be called a coin. we should call it a centralized online payment processor.
by the way it has nothing to do with price and bitcoin is not an investment, if it were then its price would have tanked hard a long time ago just like how altcoins get dumped and never recover again since altcoins are purely for investment and have no other usages.
Hello everyone so now i want to share a very good information with that the facebook community says the the price of facebook will be stable like a USD so its mean that there is no threat for bitcoin because all investors want that they gain more profit in short time that is why they invest their money in bitcoin because the btc price is fluctuated and for good investment need the unstable price.
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