Post
Topic
Board Altcoin Discussion
Re: So it is happening..facebook coin Libra
by
Searing
on 18/06/2019, 22:49:11 UTC
https://www.pcmag.com/news/369019/facebooks-cryptocurrency-everything-we-know-so-far

Trying to find out if this facebook 'wallet' will take "other" cryptocurrencies. I think this is unlikely, but looking.

Looking further it seems 'very' unlikely. Though they do say others can make wallets. Perhaps the makers of those wallets will add other cryptocurrencies as well.

another link

https://www.nytimes.com/2019/06/18/technology/how-libra-would-work-for-you.html

So Libra facebook coin is a 'stable' coin based on different currencies. I think I read it will also be used for microloans and finance.

So when compared to bitcoin, if it is pegged to the various currencies, I see 'no way' that it can be used as a store of value like Bitcoin.

Thus, as some have been saying, this could 'help' bitcoin with its bid to be a store of value and 'virtual gold'

Then again, with the power of this facebook coin, perhaps it could go the other way. With governments ONLY allowing stable coins, 'controlled' and 'managed' like Bitcoin.

Anyway, my take on above links and some more info is needed on all this stuff. I still don't think we have 'seen' the main 'catch' yet for this Libra coin making Zuckerberg another

billion dollars or so.