I think FB Libra will be good for our industry. Here is a graphic that illustrates it.
Facebook has been getting new applications over time. It is now a marketplace, a communications platform, digital entertainment platform. It makes perfect sense to have your own stable currency. Facebook can do that quite centralized. I think that’s a good news
I don’t think it has a hope in hell of emerging in the form they’re proposing. Governments won’t allow it. They instantly started screaming the second details emerged.
If you read up on the early days of Paypal they had a very similar idea in spirit, if not execution. It was fully castrated before it got any traction.
I can see your point @gentlemand but, Facebook is not paypal in starting days.
FB is a $545 billion dollar behemoth and that kind of money buys a lot of political power. Also it is used by intelligence agencies to spy on over 2 billion people. So having their fingers in the money of 2 billion people and knowing where and how it is being spent has a lot of intelligence value for the US government. I say they make it look like a fight but support it under the radar
Libra may and will promote cryptocurrencies, but it will be a crooked image.
Libra is not a cryptocurrency. It wasn’t even lie down next to Bitcoin or NEM.
Public will get picture of cryptocurrency caricature and other coins may be same perceived - valuable ones.
Good news for all of us.
If facebook is creating a crypto currency, there must be something huge going on in the future. So yes, good news for us
To be honest, I am very skeptical about such projects of large corporations that have decided to create their own cryptocurrency.
I think it is generally a good idea. They had a grand plan that could have been bad for competitors like us had they done it all at once, but the government shut that down. Now they have a much more scaled back vision of what they will be able to do and will slowly add additional options to it.
For the most part, it just affirms that Bitcoin and other crypto like NEM and Symbol were right all along. It is validating of the whole industry.
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I kind of agree and somehow not… agree. I agree in a way that it is not really impossible for this to happen. It might not be obvious but there are a lot of coins in the FB market right now. There is also a lot of advertisements regarding it. Somehow not agree with it because people who invest in cryptocurrency are careful. Well, yup there are a lot of people who just jump in just because it is trending but bigger investors will definitely think about it twice or even a lot of times. Crypto is finally being recognized.