Topic: LIBRA: SHOULD INVEST IN THE CRYPTOMONNAIE OF FACEBOOK? (Read 174 times)

hey , everyone. recently i have found an interesting thread regarding this discussion. You can check it following the link.

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

They do not need your investment, they have enough money from private investors. But if you are talking about buying Facebook Global Coin then tell me one reason why? It is stable.. 

I do not really see the point of investing in a stable coin with a centralized network. I don't know about you but I think it is a fake crypto, Some coins seems to be doing well in countries with high inlation rate (dash, litecoin, bitcoin).

Libra could have been a huge success but the Facebook is a profit based enterprise and it can't risk it's revenue for a crypto. As of current situation, many countries have confirmed they'd make Libra illegal and Facebook have to obey their law. Even the news of Facebook bringing on a cryptocurrency has increased the interest of people towards it.

Your point of view is interesting, it should be debated

the hell does that have to do with Libra being a failure? And talks about the US banning Bitcoin have been going on for years but nothing happens (and most likely, nothing will happen because the US isn't an authoritarian govt like India where they want to jail people for using cryptos).

Can you share with us your sources about this information?

There are talks going on in Indian and USA government for banning bitcoin.

I am not sure about him but in my point of view, not only Libra any cryptocurrency or coming to market as the IEP nothing will stay at the top for life long. Automatically when this coin listed on exchanges volume movement my be strong for some months or days also.
So trusting any new coins really a bad choice for the investor. If you are a trader then you might be use this situation.

Do you think Libra will be a failure?
According to you, why?

Just like electric cars, Libra will be a failure. All the hype from those MBAs and CAs who waste people's hard earned money promoting nonsense products.

See the real world out there.

The Libra, the cryptocurrency developed by Facebook, promises to be massively used from its launch in 2020.
However, this product is of little interest for Western investors.

This is a legitimate question that some people ask, while Bitcoin prices flirt with the threshold of 10,000 dollars per unit: should we invest very early in the Libra, the cryptocurrency presented by Facebook Tuesday, June 18? It must be said that those who believed in Bitcoin shortly after its creation in 2009 are now happy millionaires (for those who have not sold). But for the Libra the observation is different. Its mechanism is designed to ensure the stability of its course so that users use it in everyday life. This is the fundamental difference with bitcoins that are kept in the hope of future appreciation.

Once its reserves are set up (a billion dollars to start), Facebook will index its Libra on a basket of traditional currencies (dollar, euro, pound sterling and yen). Thus, the value of the Libra should remain relatively stable because these major currencies are the ones that fluctuate the least in relation to others in the world. It is therefore unattractive to invest in a cryptocurrency whose price should vary only marginally. But that will not be the case everywhere.

In some less developed countries, particularly in countries where there is exchange control or high inflation, I think citizens might have more confidence in Facebook than in their government.

They target in particular Venezuela where inflation should reach 10,000,000% in 2019 according to the International Monetary Fund.
Other serious candidates for the hoarding of Libra include Zimbabwe (73.4% expected inflation in 2019), Sudan (49.6%), Argentina (43.7%), Iran ( 37.2%), South Sudan (24.5%), Liberia (22.3%), Angola (17.5%), Turkey (17.5%), Uzbekistan (16.2%), , 5%), Sierra Leone (15.8%), Libya (15%), Haiti (14.9%), Egypt (14.5%), Turkmenistan (13%), Nigeria ( 11.7%) and Zambia (10.7%). Some citizens living in states like Cuba and North Korea could also find an interest if they manage to break the censorship of their Internet.

Moreover, many emerging countries are affected by inflation, devaluation, exchange control, authoritarianism and arbitrary state, Venezuela being an extreme and emblematic case. I even go further, I see in the Libra a competitor of importance for the state currencies. The public debt, the printing press and the disease of zero rates are gradually destroying the yen, the euro and the dollar, we can legitimately worry about these currencies and for their banking systems, there is too much debt, too much debt leverage in banks.

As long as the Libra remains indexed on a basket of traditional currencies, the euro or the dollar have little trouble to be made. On the other hand, I think that this formula could last only one time, as the credibility of the Facebook cryptocurrency asserts itself. Indeed, it is easy to imagine how an FBCoin could emancipate itself from its function of representing traditional currencies, and acquire its own value of use. it would be enough for Facebook to offer a set of services using this currency, as well as bridges with external services. Therefore, the FBCoin would de facto obtain a use value in a given community - that of its 2.3 billion users - instead of depending (only) on the price of traditional currencies.

So, it may be interesting to have some libras hidden under his mattress in anticipation of dark days. Or a handful of bitcoins because people will understand that the Libra depends on Facebook and that the rules of the game can change arbitrarily. This is not the case for Bitcoin which does not belong to anybody and that this one will see then its reinforced role.