Quote from: squatter on June 21, 2019, 11:22:45 PM

Quote from: Khaos77 on June 21, 2019, 08:52:36 PM

Quote from: squatter on June 21, 2019, 06:49:41 PM

Quote from: FUD Expert on June 21, 2019, 08:06:54 AM

Banks with no doubt will shill Libra with their most effective and expensive marketing. That's how I only see it.

Legacy banks want no part of it. Libra only threatens their market share for international remittances, as customers will move away from bank wires and towards the cheaper payments offered by Libra. Companies like Stripe and PayPal might be along for the ride, but legacy banks will probably be pushing their own competing products.

Included in the List of companies supporting Libra, are VISA & MASTERCARD

...which are not banks. Visa, Mastercard and similar payment processors will be happy to implement Libra into their POS products and take a cut from merchants like they do today.

Banks, on the other hand, only stand to lose if people start holding funds in Libra/Calibra instead of bank accounts because it's cheaper to remit internationally. Just like banks created Zelle to compete with Venmo, they'll create a new, cheaper and faster system to replace SWIFT and begin competing with products like Libra.

IF as you state above "people start holding funds in Libra/Calibra instead of bank accounts". As you quote above, this would be IMHO very, very bad for Bitcoin as a 'store of value'

If LIbra has the option to gain interest as a bank and be its 'own store of value". I am somewhat unclear on this, however. With all the online banking in the world, I find it hard to

believe that if Libra is sanctioned by the gov't and powers that be, it could not be allowed to also act as a bank and pay interest and do loans like any other web-based bank

out in the world. Thus, if this came to pass, could not Bitcoin and other open source coins be 'pushed out' and Libra replace Bitcoin?

Let me know what you think. I am befuddled. Everyone seems to think Libra will help BTC as a store of value, but I for one can't for the life of me, see why they would not

take these next and obvious steps and also make Libra a centralized coin as a store of value backed by Facebook. Just seems the way I would go if I was an 'evil mastermind'

and wanted to replace my 'centralized Libra coin" as the next Bitcoin that I could control completely.

So educate me on why this would or could not be done and/or why this would not be easy? Seems a clear enough evil path to me!

Brad