Quote from: bryant.coleman on Today at 12:21:14 PM

Quote from: Lucius on Today at 11:55:40 AM

Facebook's coin (whatever it will be called) could not have been inspired by Bitcoin because in its essence it is something completely opposite to everything that is at the very core of what Satoshi Nakamoto invented. FB will eventually launch some kind of stablecoin, and we all know that such coins are completely pegged with the fiat currency that supports them - which opens up unlimited manipulation as seen in the case of Tether.

Can't put it any better than this. The Libracoin is completely opposite of everything Bitcoin stands for and it is more similar to a central-bank issued fiat currency rather than a decentralized cryptocurrency. In the end, there is going to be hardly any difference between the digital versions of fiat currency (such as PayPal/Visa), stablecoins such as USDT/USDC and Libracoin.

Mark Zuckerberg's coin is very much needed fro the whole walled garden Facebook experience: he needs a token to allow an end-to-end payment mechanism for Instagram, Facebook, WhatsApp and whatever will come next. Like Apple did with iTunes, you will see.
In the end everything is about enclosing the customer and allow him to be "monetized".