I do not really understand how you can make a profit with a stablecoin? Whats the point of "investing" into libra when the price is pegged to a certain price and you can't make more of it? If you can just remind yourself the fact that libra will be kind of like USDT where 1 USDT is 1 dollars and you can't make "profit" then there is absolutely no way you can make money with Libra either. I mean sure go buy some if you want to spend money on something and all that but aside from that there is no way you can make money from Libra.
Libra will be out there so people can spend money easier than fiat currency (which is a good thing) but not so people could make profit with it, that is not its purpose at all and anyone who gets Libra to try and make some profit will be sad to see their money stays still.
Topic: Libra (Facebook coin) - All in one. (Read 399 times)
After Facebook announced that it would release Libra Coin, the price of BTC rose dramatically, I think this proves that the CEO of Facebook has a big influence on the world industry and will have an influence on Crypto.
True. The only good thing to come from the Facebook coin is that it is making everyone sit up and take crypto seriously. There are still questions as to whether this coin will be properly exchangeable with other crypto, and whether it will become the default stablecoin. I really hope it doesn't though. The thought of Facebook ruling crypto sickens me.
After Facebook announced that it would release Libra Coin, the price of BTC rose dramatically, I think this proves that the CEO of Facebook has a big influence on the world industry and will have an influence on Crypto.
So many topics regarding this Libra coins
... and in most of these threads I appear at some point and start ranting incoherently about the evil data-vampire that is Facebook. Here I am again. countdown to rant... 3... 2... 1...
Facebook's purpose is and always has been to suck up our personal data and monetise it. At first they termed it 'data exhaust' like it was some wasteful and inadvertent by-product, but kind caring Facebook is here to recycle it into something useful. The environmental analogy is entirely purposeful, they want to seem like they are doing us a favour by cleaning up this toxic data-spill, when in fact this has always been their primary aim. These guys are master manipulators, and I suspect absolute sociopaths as well.
We give them our data for free, and they sell it to make profit. And more than this, they combine it all and use behavioural analytics to effectively construct digital models of each of us so that they can a) target advertisements more effectively, and b) predict (and influence) our future behaviour.
I don't trust them, and I don't want anything to do with Libra, which is just their latest weapon to steal and make profit from our personal data.
I'm not keen on Facebook. I get the impression that their overriding aim is to take over the world, and this is part of it. Who knows what their real target is, maybe it's WeChat with their payment system, maybe they are trying to replace fiat itself, but one thing I'm sure of is that their claims that Libra will be decentralised is absolute bullsh*t. Facebook are greedy as hell, and want to control everything. No way they will suddenly pivot to thinking that decentralised is best.
So many topics regarding this Libra coins, yet these people don't seem to invest in it instead.
Libra is not like other projects. Libra takes investments as Libra investment Tokens.
Quote
The initial members of the council are the Founding Members and serve as the network's initial validator node. To be such a node, an entity needs to make an investment of at least $10 million in the network through purchasing Libra Investment Tokens. Each $10 million investment entitles one vote in the council, subject to a cap.
So, the minimum investment needed will be $10 million
If you are mentioning about Libra coin, it is proposed to be a stable coin. ie. If you purchase Libra coin for $10, you'll get back $10 (approx) when you sell it. Not a great investment idea
So, Libra doesn't provide any opportunity for the common folk to invest with them as of now.Facebook is a stable coin, and I don’t expect the value to grow or fluctuate, it will be more of a coin that will be used for payments of online purchases, and also for it to be used internally. I don’t even see it being useful as store of value except the fact that it protects the fund from depreciating in value, but a store of value should at least still have interest in future no matter how little. We should just wait for the coin to be released first so we can have the full details of its way of operation.
I’s really hard to say something more about Libra. We still don’t know many details about it: our only source of knowledge are Libra’s website and Zuckerberg’s official statements about this project. Here you have a article which concludes those informations: https://www.blockchain24.co/face...
My thoughts? Libra will be an Facebook stablecoin - it have to be, cause its main goal is to serve as FB interior currency. You will be able to pay with Libra for every service available there. That’s the sure thing. But what else will be available to buy for “Zuckercoin”? The list of Libra’s partners might be a clue here: Spotify or Uber may suggest that other brands will be available too.
My thoughts? Libra will be an Facebook stablecoin - it have to be, cause its main goal is to serve as FB interior currency. You will be able to pay with Libra for every service available there. That’s the sure thing. But what else will be available to buy for “Zuckercoin”? The list of Libra’s partners might be a clue here: Spotify or Uber may suggest that other brands will be available too.
The worst project you can ever think of using for investment would be stable coins, what is the essence of holding a coin that does not move, and when they finally move, it moves extremely slow to give a very low value because it is meant to retain the same value of the coin currency they chose to pair it with.
It's the point, and people just over FOMO with Libra. Anyway, such stupid stable coin has contributed to boost crypto market, and bitcoin. Therefore, we should say a huge thanks to Mark Zuckerberg by launching Libra's website and whitepaper. At least, by now, crypto currency and blockchain have become more familiar and more popular in our society, globally. That's the biggest thing Libra brings to whole crypto ecosystem. Before Libra, even people heard about crypto, they still thought crypto is fraud, but with a huge brand of Facebook, Libra changed their attitude on crypto currency.Libra Facebook coin project is looking so good for investment, but we must becareful to decide movement with LIBRA.
i just hope LIBRA will making cryptocurrency be real currency in the world.
The worst project you can ever think of using for investment would be stable coins, what is the essence of holding a coin that does not move, and when they finally move, it moves extremely slow to give a very low value because it is meant to retain the same value of the coin currency they chose to pair it with.
It's the point, and people just over FOMO with Libra. Anyway, such stupid stable coin has contributed to boost crypto market, and bitcoin. Therefore, we should say a huge thanks to Mark Zuckerberg by launching Libra's website and whitepaper. At least, by now, crypto currency and blockchain have become more familiar and more popular in our society, globally. That's the biggest thing Libra brings to whole crypto ecosystem. Before Libra, even people heard about crypto, they still thought crypto is fraud, but with a huge brand of Facebook, Libra changed their attitude on crypto currency.
And what makes you think someoneelse would still not see your own post as a low quality one too, because some of the postyou called low quality are what you quoted here and I don’t see any difference from what I have seen and read on other people’s post.
Yes we all know now that it will not be possible for Libra coin to compete with Facebook coin because they have no similar function which David has already come to clear the air, so there is no point talking about it again, we just have to wait for the release and see how things will unfold. Facebook coin will only be used by their users for their platform.
No investor should have it in mind of making money through stablecoin, the best coins to use as investment are still those other coins like Bitcoin, ETH and other great altcoins. Stable coin can only function well when you want to store your fund in crypto for a very long time and still have the Fiat value retain.
Yes we all know now that it will not be possible for Libra coin to compete with Facebook coin because they have no similar function which David has already come to clear the air, so there is no point talking about it again, we just have to wait for the release and see how things will unfold. Facebook coin will only be used by their users for their platform.
It's just stable coin. It's good for invest
The worst project you can ever think of using for investment would be stable coins, what is the essence of holding a coin that does not move, and when they finally move, it moves extremely slow to give a very low value because it is meant to retain the same value of the coin currency they chose to pair it with.No investor should have it in mind of making money through stablecoin, the best coins to use as investment are still those other coins like Bitcoin, ETH and other great altcoins. Stable coin can only function well when you want to store your fund in crypto for a very long time and still have the Fiat value retain.
Yet another topic. This section has been inundated with this shit coin in the last few days. Quoting other people's posts won't help you win any merit. Your topic will be buried by a ton of others.
Well said. I don't even know why Libra coin is become the trend coin in this section. I mean, I know that it could bring investors but the coin itself is like USDT coin. It's not moving, it will be stagnant all the time. I wonder why people are patronizing this one.
small words, but if that is the case, then would/could Libra replace Bitcoin as a store of value coin also?
In real life, with Gold, there is nothing can replace gold, for thousands of years. In digital assets, there is nothing can replace Bitcoin, that is a King and a backbone of crypto currency ecosystem. Libra, is a stable coin, so its price does not change too much, like what we saw with Tether USD, or USD coin (nearly unchanged), but Libra holders might have passive rewards that paid via Libra (I guess so). Therefore, investors can get small profits from Libra, not too much, in my opinion. Therefore, to maximize profits from investments, I don't choose Libra.
small words, but if that is the case, then would/could Libra replace Bitcoin as a store of value coin also?
In real life, with Gold, there is nothing can replace gold, for thousands of years. In digital assets, there is nothing can replace Bitcoin, that is a King and a backbone of crypto currency ecosystem. Libra, is a stable coin, so its price does not change too much, like what we saw with Tether USD, or USD coin (nearly unchanged), but Libra holders might have passive rewards that paid via Libra (I guess so). Therefore, investors can get small profits from Libra, not too much, in my opinion. Therefore, to maximize profits from investments, I don't choose Libra.I certainly hope you are correct. I just can't help that the powers that be (centralized entities like facebook, banks, gov't, etc) are just letting Bitcoin off 'too easy'.
I suspect that if/when Libra, the facebook coin, is allowed, after jumping through a lot of 'regulatory hoops' in the United States and other countries.
The 'other shoe' will fall.
I just can't see them letting go of replacing Bitcoin at some point in the future as an attempt. It is too tempting to just tweak their Libra protocol and allow staking or something
else to go for it. There is no downside that I can see for them to add such to the protocol to try. Worst that would happen if they fail, with the status quo just staying with
Bitcoin. But that is my prediction, once Libra gets its 'feet under itself' and launches, they will make a run, in some manner, I'm not sure how to replace Bitcoin as also a store
of value coin. I just can't see them letting that go, even if it is a down the road 'hail mary' pass like in American Football. Might be low odds, but if they could pull it off they would
be golden.
Brad
small words, but if that is the case, then would/could Libra replace Bitcoin as a store of value coin also?
In real life, with Gold, there is nothing can replace gold, for thousands of years. In digital assets, there is nothing can replace Bitcoin, that is a King and a backbone of crypto currency ecosystem. Libra, is a stable coin, so its price does not change too much, like what we saw with Tether USD, or USD coin (nearly unchanged), but Libra holders might have passive rewards that paid via Libra (I guess so). Therefore, investors can get small profits from Libra, not too much, in my opinion. Therefore, to maximize profits from investments, I don't choose Libra. I recommend all you guys don't hop on Libra instantly when its started, because price will drop (as we always witness) months later, when FOMO effects go away. If you want to buy that coin, you should wait months later, then you will have better price, to buy Libra.
I was about to merit this but unfortunately you missed out on the fact that Libra is being launched as a stablecoin.
From Reuters:
Quote
Like a variety of altcoins known as “stablecoins,” Libra will be backed by a reserve of real-world assets, including bank deposits and short-term government securities. This should make it more stable than other cryptocurrencies.
While it won't be tied to the value of 1 USD or 1 EUR (as most stablecoins are), it will be tied to the overall value of its assets.
I"m stuck on the 'stablecoin' part of Bitcoin not being a threat to Bitcoin. I mean, if you have a centralized coin, and it is based on currencies/USD/etc what is to stop you from
paying in interest (like a bank) or staking this coin for profit and a store of value?
Remember we are talking 1.5 Billion people on Facebook. With Libra coin, all the transaction fees and such go to the $10 million dollar nodes run by Paypal or visa or whomever.
Thus facebook profits (unless the various gov't allow massive data mining of info of folk like the regular Facebook) Where else is this Libra going to get its value? I guess I need
small words, but if that is the case, then would/could Libra replace Bitcoin as a store of value coin also? Thus being the 'darling' of centralization efforts by governments and
banks, etc?
Again, use small words on why this is not so. Just seems if there is an evil angle here to usurp Bitcoin and open source crypto it would be in this Libra coin, considering the source.
Brad
So many topics regarding this Libra coins, yet these people don't seem to invest in it instead.
Libra is not like other projects. Libra takes investments as Libra investment Tokens.
Quote
The initial members of the council are the Founding Members and serve as the network's initial validator node. To be such a node, an entity needs to make an investment of at least $10 million in the network through purchasing Libra Investment Tokens. Each $10 million investment entitles one vote in the council, subject to a cap.
So, the minimum investment needed will be $10 million
If you are mentioning about Libra coin, it is proposed to be a stable coin. ie. If you purchase Libra coin for $10, you'll get back $10 (approx) when you sell it. Not a great investment idea
So, Libra doesn't provide any opportunity for the common folk to invest with them as of now. It's just stable coin. It's good for invest
Stable coin is not good to invest, we all know that fact. Libra is an innovative stable coin, so it might make difference. Personally, I don't believe in significant innovation from Libra, and don't invest in Libra if it will officially been launched.
It's just stable coin. It's good for invest
Yet another topic. This section has been inundated with this shit coin in the last few days. Quoting other people's posts won't help you win any merit. Your topic will be buried by a ton of others.
Holy shit mate, OP has not violated any rule in this case and should be applaud for sharing some opinions around this forum to here. I think what he possibly share are things that worth considering because Libra coin will enclose many other benefits from giant tech like visa among others ecetera, so, let discus the advantages of this coin to Bitcoin community in general or the effect it will have on current price.
ofc, facebook intends to capture some part of the cryptocurreny market in order to give all people acess to basic financial services.
btw,regards to this thread.i've found related article so u can read & figure out more.
here's a link.
https://finance.yahoo.com/news/facebook-inc-fb-wants-more-220415665.html
btw,regards to this thread.i've found related article so u can read & figure out more.
here's a link.
https://finance.yahoo.com/news/facebook-inc-fb-wants-more-220415665.html
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