I think Libra is a borrowed idea to incentive their current users while attract new ones. It could also be a way to combat tiny threats like Steemit or other social media-like platforms running on blockchain technology.
I would definitely try to get in early and dump them for a nice profit. I do not believe they will over take BTC, but the hype and attention is great for crypto overall.
Ya I think you're right! I think I agree with all that.
It protects them from Steemit and things like it and also draws some attention to itself.
Good move for Facebook, I'd imagine.
Any idea how we buy it or if we can yet???
I have no clue about how or where to buy Libra. I just barely heard the news and read your post. If you learn how, please let me know and I will do the same.
Sooooo...
Still learning some of the details. But seems (1) it's supposed to come out in 2020 and (2) the idea is actually that it's a stablecoin.
So then hodling the token won't really be a thing. Maybe it won't be perfectly stable tho and there's little games you can play, like try to buy and sell at $1.06 or whatever.
And also, probably not actually a cryptocurrency lol. My understanding is it's stable because the partners (like Uber etc) agree to accept it for $1. But so then I'd imagine what also has to happen is that the Libra association can create new tokens.
(Because otherwise demand might sometimes outweigh supply, and the token would be trying to be worth $1.20 or $2... and then you can't really expect Uber to keep accepting it for $1.. so I imagine there needs to be central bank style inflation, but I'm not sure)
Not sure I have everything right.. fact check and do your own homework.. that's what I have right now tho haha.. stablecoin, basically
Thanks for your reply. Sadly I read similar details as well. So doesn't look like an investment opportunity as I was hoping for.
I am not sure how this differs from Paypal, Venmo, or CashApp aside form the blockchain aspect of this coin. What is the incentive for using Libra versus existing payment apps?
We've seen how SBD failed to be pegged to the USD, so it will be sorta interesting to see how Libra pans out.
Right! It seems so convoluted and pointless. It's basically a way of transferring dollars.
I think it could succeed at being stable...... until it falls apart 😆
In a way it almost seems like inflation of the USD, lol. Because it's like there's less USD hodling, and you can still essentially use it. I wonder how the government would feel if it started to get big!!
I hope it succeeds in some form or fashion so that it draw more attention to blockchain technology. If the masses can adopt Libra as a stable coin, perhaps it might not be as big of a step into the crypto word.
What would be interesting is if the Libra has some features like my credit card reward dollars. There is a group of affiliated companies that I can chose from where I can spend my reward dollars at a 1.2x exchange. For example, I can get a $25 Home Depot gift card for 20 reward dollars. Sometimes the exchange rate is higher too, but not for companies that I would use though.
This would incentivize me to use Libra for the savings.
Sounds good! Deal!