Facebook just announced its Cryptocurrency Libra! is it Bitcoin?

boyptc

hero member

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★Bitvest.io★ Play Plinko or Invest!

Quote from: omonuyak on July 02, 2019, 03:14:54 AM

You may not be able to mine Facebook coin (Libya) since is a stable coin

I assume that you are on 'auto-correct' spelling. Grin

Quote from: adetheprince on June 30, 2019, 11:13:13 PM

I am wondering if anyone heard of the new Libra Cryptocurrency by Facebook.

Check the Altcoin discussions, too many topics about this coin.

Quote from: adetheprince on June 30, 2019, 11:13:13 PM

Can this be mined or used as investment like we do with other Cryptocurrencies?

AFAIK, there's no way to mine it. As an investment, it's a stable coin, no volatile can be used to make as an investment.

Passionate

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For me its good that Facebook is taking steps towards independence against currency itself. Realistically Facebook is already bigger than the entire world's media companies combined in terms of communication reach. By having their own currency which is not within the grasp of governments, they will have more control on what they can do since even the USD's value is based on the collective belief of people's perception on how valuable it is but the part where its quantitative value is dictated by exchanges backed by governments is something I think a step behind in our generation.

Look at how Forbes describe it, the intent to cause menace in the context of how they describe it simply says they don't want this cryptocurrency to happen:
https://www.forbes.com/sites/francescoppola/2019/06/30/the-real-threat-from-facebooks-libra-coin/#4bf90b6c1dc5

omonuyak

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Quote from: adetheprince on June 30, 2019, 11:13:13 PM

I am wondering if anyone heard of the new Libra Cryptocurrency by Facebook.
Can this be mined or used as investment like we do with other Cryptocurrencies?

You may not be able to mine Facebook coin (Libya) since is a stable coin and it capital reserve is going to be in fiat therefore, it is not minable. You should wait till it is listed in any cryptocurrency exchange and buy and if it is trading against any cryptocoin and have up-hand you may sell for profits. I have read in so many place ”the reason why bitcoin is growing is because of this libra coin” that mean it is going to have good relationship with Bitcoin and ethereum.

ManoPrimitiva

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Long is the road

Hello there!

Well, no, it's not bitcoin. It's not even a real cryptocurrency, you could say is only digital currency. This is a not minable coin. It will be listed in exchanges, but since is announced as a stable coin, that means the value will supposedly always be the same. This currency practical use will be pretty much only to by ads from facebook/instagram and for the money transfer market (which I believe is what they are really after since is a multi-billion dollar industry).

check this links:
https://www.ccn.com/crypto/bitcoin-evangelist-andreas-antonopoulos-says-facebooks-libra-isnt-real-blockchain/2019/06/18/
https://www.theguardian.com/commentisfree/2019/jul/01/the-guardian-view-on-facebooks-libra-funny-money

adetheprince

newbie

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Merit: 0

I am wondering if anyone heard of the new Libra Cryptocurrency by Facebook.
Can this be mined or used as investment like we do with other Cryptocurrencies?

Topic: Facebook just announced its Cryptocurrency Libra! is it Bitcoin? (Read 105 times)