Perhaps this situation is good for Bitcoin. People will realize that Bitcoin is the only non-debased currency.
Pretty much the only thing I've read about Libra is from this thread, because I'm not interested in anything Facebook has to offer. But I concur that it might be good for bitcoin eventually, depending on how many people actually use Facebook's shitcoin. If people do get interested in it, they could come to realize how much better a true cryptocurrency like bitcoin is. But we'll see.
Not sure about the fractional reserve thing. But knowing how greedy and corrupt large corporations like Facebook and their cohorts are, it wouldn't surprise me if they did something like that. It's obviously already standard practice in the banking industry.
Okay, one thing I do know for sure is that anyone that's creating cryptocurrency is doing it for the purpose of making money, even Facebook is not doing it for free, they are after the cryptocurrency business and how much they can make from it.
Yep. And I hope it blows up in their face(book).