When do you think they will figure out that a stable coin will never replace altcoin gambling? Price go up is the game. Price go sideways is never going to replace price go up. Furthermore, do they ever wonder why the "better" stable coins such as GUSD haven't replaced tether? Pull at that thread and you'll realize that no only will facebook coin not replace alt-coins, but it won't even replace tether. The market will eventually figure this out, but the memes are slow and the herd is dumb. Bitcoin maximalists are incorrigible.
You ostensibly did not even read the link that was provided, which refutes everything you wrote.
1. Libra is not a stable coin in the same way that Tether et al are. Libra is not a peg. It is backed with 4 major reserve currencies actually held in reserve, not a peg.
2. The reason Libra adoption will skyrocket is because of the strong dollar vortex due to the enveloping global sovereign debt crisis. The peripheral currencies will be crashing. Thus individuals within these nations will disobey their governments and choose to hodl Libra instead of their local currencies, because they will receive significant appreciation by doing so. We are headed into hyperstagflation in terms of local currencies of most nations.
3. Core BitcOn (and thus all of the cryptocosm) will be crashing due to the SegWit donations attack probably after May 2020. Libra will be the only thing the billions of people will trust. This is not an endorsement of the lack of trustlessness in Libra. Rather it is a recognition of the diabolical plan that is being successfully hoisted on the world. You should read the link that was provided so you can learn more.
4. The West will have a strong incentive to support Libra in the battle against China and China’s Belt&Road Initiative influence in the developing world. The Yuan is not one of the reserve currencies of Libra. Libra is a Trojan Horse. Eventually the powers-that-be will back it with (the real) Bitcoin after everyone thinks Bitcoin died. Lol. So many retards are going to be fleeced in this 666 plan.
Please read citations before commenting, otherwise you make yourself an idiot in the eyes who have taken the time to read and learn.
Libra replacing shitcoins is an amusing narrative.
Libra will replace many coins, but not Monero and Bitcoin.
5. Monero is as useless as I predicted it would be. I was entirely vindicated (c.f. also).
Millennials have plenty of money. And Gen Z that grow up with internet is right behind them.
Disagree:
https://www.armstrongeconomics.com/world-news/student-debt/millennial-student-debt-is-1-crisis/
They often have to move back in with their parents after college with fine arts degree. A small segment of them with STEM degrees had some money (e.g. programmers) but the ones gullible enough to be gamble on altcoins have ostensibly already been fleeced.
The developing world will latch onto to Libra which is something they can actually recommend to be people without becoming a crackpot in the eyes of their family and friends.
