Libra is a stablecoin.
What can be said of a stablecoin, well its stable. (pegged to fiat - inflationary)
For 1 Dollar worth of stablecoin someone gets a Dollar worth of xyz stablecoin minus transaction fee.
Changing it back someone will get 1 Dollar minus fees.
The only difference with Libra its pegged to several fiats not just USD by looks of things.
Every large company will have its own stablecoin/token even celebs,
Stablecoins are coming, Libra is one, so is JPMorgans coin and a shit ton of others, like
https://www.coindesk.com/switzerlands-six-stock-exchange-is-working-on-a-swiss-franc-stablecoin
What can be said of a stablecoin, well its stable. (pegged to fiat - inflationary)
For 1 Dollar worth of stablecoin someone gets a Dollar worth of xyz stablecoin minus transaction fee.
Changing it back someone will get 1 Dollar minus fees.
The only difference with Libra its pegged to several fiats not just USD by looks of things.
Every large company will have its own stablecoin/token even celebs,
Stablecoins are coming, Libra is one, so is JPMorgans coin and a shit ton of others, like
https://www.coindesk.com/switzerlands-six-stock-exchange-is-working-on-a-swiss-franc-stablecoin
and in addition to that. Being backed by fiat money will make Libra open to inflation and turmoil risk. Because we know that bitcoin does not really affected from fiat money turmoils and that is what makes it eligible for diversification. That is why investors started to choose BTC as a part of their investment. So yes libra is stable and backed by fiat money and yes btc has more transaction fees and really volatile but even with those facts, I dont think Btc will getting destroyed by libra. And when considering the differences between them, Libra actually brilliant idea but still Bitcoin will going to stay and keep continue to be dominant in the crypto market.