Topic: Libra the new crypto king - page 7. (Read 10381 times)

I guess it will be the king of Altcoins and second to the Bitcoin. Ethereum already made a lot of changes and developments by making the blockchain transactions to become more comfortable in which Ethereum platform was now commonly used by most of the Alts and ICOs to support their projects but still it was not able to supersede Bitcoin so for me Libra might replaced Ethereum but not the Bitcoin.

Too much hype created across the internet about this coin.
Although it may bring some awareness among public for using cryptos but it is a fact that a CENTRALIZED coin can never be a crypto king, it will remain a stable coin like other stable currencies.

No way, mate. libra is a stable coin and I don't think that true crypto adopters will ever use this centralised coin.
As for me I am definitely against using libra, because now facebook knows everything about you, even your payments history

the king at Crypto are difficult to replace and maybe there is nothing better now than Bitcoin.
maybe there are still good ones but to defeat and change the position of king of coins is not easy.

This coin is unlikely to take the place of the king of cryptocurrency.Of course, it will have a great impact on the market, but not as much globally as you wrote.

Until now Libra has absolutely no effect on the crypto industry. I have hoped that the launch and the token creation of such a big coin, will provoke the market raise, but nothing happened and it is very sad guys.

Of course it is not going to be the crypto king at all but it definitely is going to give other coins a tough time in the market. It is going to make it lot easier for people to buy and sell crypto and transact the money around the world with many different and other services as well which makes it pretty attractive to invest in. But the question if it would outshine other coins is still a question.

If you honestly do not see anything good here.  Collection of our personal data.  This is generally legal.  Enough of the fact that Google will collect all the information about us.

It will succeed in its own way. The main purpose of facebook is gathering data that can later be sold. They want to know what you want to buy and what ads you will react to.
Libra coin will find its market in the millenials who buy apple gadgets and use social media for hours every day. They will want to try this new crypto hype but without going out of their social media comfort zone and facebook will get more data to sell.

Lol, the new crypto king? We haven't seen what it can bring to the ecosystem. It is also centralized, pegged to a currency, so how will crypto enthusiast going to support that? They are generating a lot of buzz right now, but so say that they are the new crypto king? they need to prove that. That is if they're going to start at least next year if US government won't shoot down their idea.

hmm libra is not a crypto currency at all in my opinion. yeah it is a digital currency, no doubt.
but why should a stable coin going to be a king in the crypto game? makes no sense to me. its a nice move to connect the mass of people with the crypto space...
 i don't like facebook at all but the still reach a huge amount of people. so it could be good for the crypto world

I highly doubt the success of this project.  Since I heard about him recently.  I do not think that some kind of empty card can overcome bitcoin.  The names of the king is not so easy to earn.

yes sometimes it may be possible but we will not give the assurance for that because the Bitcoin is there in front of any currency so that it will not been taking right now and the future also Bitcoin is more powerful.

Naw. It will happen, at least in the USA and such. The reason is money, Facebook will simply thru political influence and dollars, buy a way into their vision of crypto.

It will work like this:

1) too much power with the centralized Libra...Facebook will spin off something separate from Facebook to monitor such with congressional approval.

2) the mix of crypto and currencies to the worth on the Libra coin will be MOSTLY USD. Over 80% IMHO. Again, to calm fears.

3) they MAY have to make a separate entity for keeping track of personal info...if they make this robust enough..they will be allowed to do data mining yet like facebook proper/ Ads.

4) with some banking hoops they will be able to charge interest on your hodl'ing Libra..much like online banks...again probably a separate entity to do so with Congress approval.

5) with above banking hoops filled they will also offer (to start) micro-loans to developing countries citizens.

6) they will incorporate their Libra with eBay, for overseas purchases mainly, to the same underdeveloped citizens of 3rd world countries also. There may be an eBay plan already.

All the above can be put into play and compartmentalized enough, that supposedly, IMHO, Congress will approve all this. Of course, 10 years down the line society will likely

find that they gave too much power to Mark Zuckerberg (even if all the above is parsed out in separate entities they will all still be connected in some way to

Mark Zuckerberg's wealth and these endeavors...spinning off some of this stuff will still give him and facebook clout, even if they accept 49% of the spin off to get approval.

Money talks and B.S. walks. This is a done deal, IMHO because VISA, PAYPAL, etc are all on board already and the ink on above 'adjustments' to  eventual congressional

passage is not even dry yet.

As to what this will do for Bitcoin. Unsure.

Because Libra is tethered and a stable coin to USD and/or basket of other stuff, as Facebook claims. It is hard to see how bitcoin

could not benefit from this being a store of value. (virtual gold) to Libra's (ease for transactions and speed). However, IF by holding Libra you can stake at certain % in interest

and/or Libra itself takes on the quality of a 'banknote'. Well, all bets are off.

If that was the case, IMHO, if Libra had a huge start and use, like when PayPal started, by the

time Bitcoin and Crypto saw this as a threat, folk may have moved on.

Not saying this will happen, but Mark Zuckerberg would NOT be displeased if his Libra currency by happenstance or otherwise replaced Bitcoin and all other cryptos.

He may not feel that is possible, or even very likely, with the Libra Coin launch, but he would certainly like the alternative of this expected or not.

If Libra was to bury Bitcoin and other Cryptos.

So to me, it depends on HOW MUCH of a store of value with banking tricks and other attempts can Facebook make their Libra coin.

Also, Libra, as a 'store of value' like Bitcoin to replace Bitcoin, that is a long shot, indeed, with Bitcoin's 10 year lead on the 'store of value' position, this again,

IMHO is a very big longshot, but not impossible. I can't see them reaching for such heights at this time, would be better to 'use' or co-opt Bitcoin and other Cryptos

to their 'fast currency' vision first. But no one ever said Mark Zuckerberg has ever been accused of 'under-reaching' on launches of ideas/etc.

Again, Big Money Talks and Politician's Listen.

In this century, crony capitalism has made a huge comeback in the world and they may not be done yet!

Anyway, I know zip. Just my take and concerns on this. This  Libra coin is 'going' to happen as to the effects, well, I'm just tossing out my views/concerns above.

Brad


edit: I may be 'too' optimistic about Bitcoin, according to this article. Whatever, I'm befuddled as usual.

https://hackernoon.com/libra-a-cyberpunk-nightmare-in-the-midst-of-crypto-spring-5543b6f6e34b

Libra will create a new fever in the electronic market, but it will be very difficult to occupy Bitcoin's throne. Bitcoin is a prestigious coin and Libra cannot challenge Bitcoin's status, which is what I am sure of.

even coins that are already very popular and already have good quality like ETH and others are not enough for me to become the king of crypto because Bitcoin is still too strong for altcoin to pursue.
so it's too early if when you call a coin Libra is the new cypto king.
especially when this coin is not known by many people.

I am not at all sure about LIBRA coins, they have never even been seen in the public. they are still in the plan. there are even many coins in the market that have high hopes of continuing to grow, in contrast to LIBRA which is still new and not yet visible. and bitcoin is the real crypto king.

i agree its not really guaranteed to be also successful in term of crypto we know the success of facebook but social media and crypto is really in different platform. its hard to get profit in stable coin so there no more reason to hold a lot in long term. im not using their service means the coin is not useful for me to hold.

It wasn't even started yet and you consider it as a cryptocurrency king  .  I look forward to seeing the first major bug of this coin appear, people will soon realize the real value of this coin. 

The only hype about this coin is the fact its bringing cryptocurrency to everyone. Facebook houses billions of people if they introduce their coin, everyone will hear about cryptocurrency new money will flow into the market.