Will Facebook's Libra effect the price of Steem?
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The important thing to remember is that LIBRA is yet about ONE YEAR away. (And this is not even about mass adoption, only the Start). One year in crypto is so much more than what we used to experiene in the FIAT world.
Interesting times ahead.
Yes, for sure. Still very early and lots of technical hurdles for them to overcome. Definitely going to be interesting times.
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Not at all. Libra will have years of regulatory hurdles to beat before it is released to the masses.
Demorat senators are already getting their claws sharpened to make it unfeasible.
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Agree, didn't even get into the regulatory aspect of the consortium. There's identifiable and accountable companies that the regulators can and will target. It has lit a fire under the central banks with regards to their own crypto plans... you could hear the collective thud as all the execs fell out of their chairs and went 'well shit' - it will be interesting, that's for sure.
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I don't think so.. There will be or is an agreement already, it's a fake war for the public, as I mentioned in my comment before, I think that's a kind of Trojan Horse to put stricter regulations on all Cryptos...
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Here’s what I feel may be a thin end of the wedge.
Having stake in the coin will start to influence the ‘reach’ of your posts.
Essentially, it’s the way they’re going to get ordinary users to start paying to use Fakebook much like what they’ve done to businesses with their FB Pages.
So what’ll happen is the posts that come across your newsfeed will essentially have higher stake and having ‘bought’ the privilege to show up over your friends (i.e. free users).
If you want your post to actually get seen by your followers you’ll need to have stake in it.
🤷🏽♂️
There is no such thing as a free lunch.
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I'm sure they'll weave the coin into the platform some how. Pay to play will likely be put into place in the future... if it flops as a global currency it will likely pull back to a Facebook coin... that's when they start the pay wall and stake driven access or visibility.
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I think you know my feelings on it 😜. Great write up and explanation of the technical side
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Yup, sure do. It's cool as now this is crossing into my day job. I get to look into it at work and figure it out. Best of both worlds for me.
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It will not hit Steem or other coins directly...
But!
It attracts new and stricter regulations and that will hit the whole crypto space.
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Yup, double-edged sword. Bullseye is going to be on the crypto space and market but it also has people I know, that had no idea about crypto, asking me about it now. I think it's a great time to lap up Steem and some other coins... could be in for a ride. Interesting that bitcoin had a bump just before the announcement, don't you think?
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I think a dump for some alts coming soon..
Bitcoin is another story...
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