Quote from: TheClownSong on October 02, 2019, 06:11:56 AM

Quote from: coin-investor on October 01, 2019, 11:37:15 AM

I would like to play devil's advocate
From this article I read

Quote

Unlike the volatility seen around other cryptocurrencys in the past, we believe that Libras focus on creating a stable, low inflation currency backed by a reserve or real assets is a differentiator. Further, unlike other stablecoins, Libra will not be pegged to one currency but instead a basket of assets ranging from bank deposits to short-term government securities.

https://www.cnbc.com/2019/06/18/the-difference-between-bitcoin-and-facebooks-libra.html

Will Libra Coin bring Down Bitcoin's dominance in the market, your thought?

Libra Coin could shift the dominance of bitcoin in the market. With more than 2 billion Facebook members worldwide, if only 20% of the members use or save $ 100 Libra Coin, then if I'm not mistaken, a $ 200 billion market cap will be created just for Libra Coin. This will make at least the dominance of altcoin like ethereum or top 5 will be displaced and it could be that the dominance of Bitcoin is displaced by Libra Coin

Do you really think all 2 billion facebook users willingly to give up their money for Libra coin, I'm pretty sure that among 2 billion of users majority of them are made up of people from 3rd world countries which usually have the ideology of never spend much money on useless things and I bet that Libra will be deemed useless in most of 3rd world countries simply because it's not applicable there.
Need to be noted most of the people in western countries also having negative perception regarding this company about how they have seriously commited a crime of violating privacy of their users. I really think that most of people wouldn't fall for the second time because it's their privacy that they gonna put at danger if they ever got messed up again.