Re: Plutus (PLU) — Earn crypto for making debit card payments!!
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
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.