Facebook is the antithesis of everything Satoshi stood for.
Should we, as the crypto community, boycott their effort?
I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.
It wouldn't be the first time that a company had engaged in lobbying and rent-seeking to harm competitors.
I think not only Libra, there have been many other coins before Libra that appeared. But the competition is only standard. There is no single coin that can defeat Bitcoin. Because the glory of Bitcoin is hard to match. Maybe if Libra shows up, the competition is XRP. And I think XRP is easy to break by Libra.