Quote from: Darkoth89 on August 02, 2019, 09:34:54 AM

Ofc, it has nothing to do with Bitcoin. A coin that is issued and controlled by Facebook, a company that collects the private information of million of its users, stands against everything that Bitcoin or cryptocurrencies in general were created for. The only reason you can be hyped about Libra is, that it will probably introduce a lot of people to the 'real' cryptocurrencies.

Exactly. Libra's centralization would effectively bring back the middleman, making Facebook the next-generation central bank of the world. Satoshi intended the Blockchain to be free from middleman for a very good reason. Corruption, manipulation, and fraud has been existent within the world's financial institutions for a long time. That's why Satoshi invented an alternative to centralized money, in order to circumvent such risks. A real cryptocurrency is about delivering a system where no single entity controls it, effectively eliminating the risk of a single point of failure.

Libra, as well as XRP, greatly defeats the purpose of a Blockchain. Despite the facts, Libra may very well bring a lot of attention within the mainstream world. It's main purpose is to be a stablecoin backed by the USD where the "unbanked" could gain access to finance in an easy manner. Whenever it's successful or not, it's yet to be seen as it has not even launched yet. With the many regulatory hurdles to get pass through, it might be unlikely that Facebook will be launching Libra by 2020.

Nonetheless, it's becoming evident that Blockchain technology is the way of the future (especially for finance). Whenever it'll be via Facebook's Libra, a government-issued digital currency, or even Bitcoin itself, we cannot know for certainty. But at least, we know that Blockchain will be a part of our lives one way or the other. Just my thoughts Grin