Quote from: nutildah on June 21, 2019, 08:48:25 AM

Quote from: thd26bct on June 21, 2019, 07:57:59 AM

I recommend all you guys don't hop on Libra instantly when its started, because price will drop (as we always witness) months later, when FOMO effects go away. If you want to buy that coin, you should wait months later, then you will have better price, to buy Libra.

I was about to merit this but unfortunately you missed out on the fact that Libra is being launched as a stablecoin.

From Reuters:

Quote

Like a variety of altcoins known as stablecoins, Libra will be backed by a reserve of real-world assets, including bank deposits and short-term government securities. This should make it more stable than other cryptocurrencies.

While it won't be tied to the value of 1 USD or 1 EUR (as most stablecoins are), it will be tied to the overall value of its assets.

I"m stuck on the 'stablecoin' part of Bitcoin not being a threat to Bitcoin. I mean, if you have a centralized coin, and it is based on currencies/USD/etc what is to stop you from

paying in interest (like a bank) or staking this coin for profit and a store of value?

Remember we are talking 1.5 Billion people on Facebook. With Libra coin, all the transaction fees and such go to the $10 million dollar nodes run by Paypal or visa or whomever.

Thus facebook profits (unless the various gov't allow massive data mining of info of folk like the regular Facebook) Where else is this Libra going to get its value? I guess I need

small words, but if that is the case, then would/could Libra replace Bitcoin as a store of value coin also? Thus being the 'darling' of centralization efforts by governments and

banks, etc?

Again, use small words on why this is not so. Just seems if there is an evil angle here to usurp Bitcoin and open source crypto it would be in this Libra coin, considering the source.

Brad