Bitcoin Forum

How Libra effect the cryptocurrency world?

There's a good chance that even XRP will not get affected.
Is Libra going to be a proper coin? No. And then why would it affect the crypto currency world? It could add some extra legitimacy in the eyes of those who don't know what crypto currencies are, but that's all.

I think it may be eve good for XRP.
Let´s suppose Libra become a competitors to banks (centralized, have to follow legislation rules, more open than banks, faster, cheaper, reliable, etc).
Libra may force banks to modernize. How will they modernize? XRP may be the answer for them. XRP always tried to get blockchain tech into banks.

It will bring a lot of new people into Bitcoin, because they will all want to feel the real deal.

Right now, it is too early to determine what can be the effects or let's say contributions that the Libra project can bring to the whole industry. I am sure that is going to be a game-changer for the many social media platforms controlled by Facebook and the many entities already signifying their interest to partner with this new platform. I am sure this is going to be a big business but apart from that I see some limited influence with the whole industry. This whole project is just showing us that big names in many industries are now slowly recognizing the value of the blockchain and cryptocurrency. I just dread to think that one way we can be waking up and realize that the whole industry is taken over by influential and resource-rich corporations.

Since bitcoin price is based on dollars, then the other coins fluctuation doesn't affect the bitcoin price at all. Only if the Dollar goes down or up it will make a difference in the btc price. I have never seen a btc valued in Libra, only in dollars and euro.

An advice to you! Don't focus on coins that don't have any future at all, And even if it had it will take centuries for it to have some value and Bitcoin had already taken the lead and you will be left behind, Well, You can definitely still buy Bitcoin it is still profitable, While the price is still moving upward, Second if you are looking for cheap coins go with decentralizing ones and that have establish enough years and still going strong just like ETH, Monero, Litecoin, Binance, Cardano etc...

How Libra effect the cryptocurrency world? I really wonder that? What do you think?

Libra facebook coin.
i don't really know because it is not lauch yet.
when i look into the website and read the whitepaper i don't find a really good concept.
let's we see how it will be the next.

Damn, when i place my reply i think you were talking about pound sterling because pound in Spanish is called Libra, so, i misunderstand the question. I thinking about England coin and not about the new facebook coin. So, getting back in the topic i think it will have a huge impact because since it will be based on ETH then it will have smart contracts and new tokens will come with it.

There's so much hype on this up and coming Libra coin, the whitepaper is good and could become a serious threat to other coins in the market, but hype is still a hype until they generate a community support, and we have seen so many hype in the market that failed to materialize, but with Facebook behind this could be different.

 ::)

Head of Facebooks Libra Distances it from BTC: We'll Share Information with Authorities ...
- https://cointelegraph.com/news/head-of-facebooks-libra-distances-it-from-btc-well-share-information-with-authorities

Chair of House Financial Services Committee Requests Halt on Facebooks Crypto Project ...
- https://cointelegraph.com/news/chair-of-house-financial-services-committee-requests-halt-on-facebooks-crypto-project

ofc, facebook intends to capture some part of the cryptocurreny market in order to give all people acess to basic financial services.
btw,regards to this thread.i've found related article so u can read & figure out more.
here's a link.
https://finance.yahoo.com/news/facebook-inc-fb-wants-more-220415665.html