Quote from: mitchr4 on June 19, 2019, 11:30:09 PM

I am more concerned about the impact of this coin on Cryptocurrency, for me this coin will be more popular than Bitcoin. Of course this has a good effect on introducing Cryptocurrency, but who knows this coin will have a bad impact market of Bitcoin and other altcoins by taking over their position since Facebook have well-known partner too.

Libra is literally fiat with extra steps. It may be more "stable" than Bitcoin but it definitely isn't anywhere close to being valuable because it's merely backed by the same things that crypto was trying to escape. Even if there are companies that have securities backing Libra, it still doesn't mean that there's a good (or service) backing the coin which has some inherent value. Everything that Libra stands for is based on the fact that fiat likely won't be going anywhere soon, and they're trying to cash in on the hype of cryptos in general. It's ridiculous.

Maybe this will be marginally popular with Facebook users, but I'm not expecting Facebook's gamble on this to pay off. If anything, it'll sweep through the internet as a temporary fad. Most people who would want to have Libra probably got burnt out on Bitcoin back in 2018. I doubt there will be a community as fanatical as Bitcoin's developing around Libra once it is more than the cool new thing.