Quote from: David_Plutus on July 01, 2019, 09:03:08 AM

Quote from: datguyian on June 30, 2019, 05:29:43 PM

Quote from: David_Plutus on June 28, 2019, 02:01:19 PM

Quote from: datguyian on June 28, 2019, 09:25:43 AM

Quote from: David_Plutus on June 26, 2019, 08:15:46 AM

Quote from: BTCCoaster on June 25, 2019, 03:05:57 PM

I always though that the FB coin would be a stablecoin. seems i am wrong. I wonder if there's room to make any profits out of it

In my mind, it made the most sense for it to be a stablecoin. I wonder how it will hold up under the typical volatility of the crypto market what with the typical user likely being averse to high volatility Huh

It is going to be a stable coin which is backed to 100% by fiat currencies. Fully centralized system so to say. But very useful probably in daily payments.

Oh is that the case? I thought I read somewhere that it was going to be pegged to different cryptos - must have misread! It's an interesting concept, for sure and I'm excited to see how it will play out. It doesn't seem to have landed with a positive sentiment in the cryptosphere though.

If it was backed by various cryptos you would have a hell of volatility, but that wouldn't work for a coin that is supposed to be a medium of exchange.

Here's some clarification for us all (mostly me though haha) -

"Libra is a stablecoin kind of! ... Unlike most stablecoins, though, Libra isn't pegged to one specific currency. Libra is pegged to a group of of low-volatility assets, including bank deposits and government securities in multiple currencies."

Interesting, I wonder if they'll make public what exactly it's pegged to

I thought it is pegged to the USD and exchange rates for other currencies are calculated accordingly.