I'm making this topic to discuss Libra in general
Here's the whitepaper
https://libra.org/en-US/white-paper/A decent topic was made in development but deleted instead of being moved, so Im reviving key points that where brought up.
One of the popular cryptocurrency exchange, Binance is in talks with social media giant facebook about the most buzzing Libra coin.
Binance’s Chief Strategy Officer Gin Chao evealed that the discussions between Binance and Facebook “have largely focused on dealing with infrastructure" and pointed out that the exchange is in early discussions for listing Libra on their platform.
Read complete article here :
https://coinpedia.org/news/binance-in-discussion-with-facebook-about-libra/Good question, answer 99% Yes,here's why I think so.
1. It's opensource
2. Libra is a stablecoin so a good tether option. Who knows It will probably be the most trusted stablecoin instantly.
3. If it is on an exchange it will probably become the new onramp source into other cryptos .( Buy on fb or earn it in marketplace from selling your old microwave for libra instead of cash) then take it to an exchange for your favorite coin like btc,ltc or ark.
I dislike that facebook is making another stablecoin but to be honest it will be a great moment for bitcoin and crypto in general.
Libra will freely fund bitcoins/cryptos biggest SEO push ever. Everyones gonna touch BTC and libra by 2021.
The whitepaper states it is. CTRL+F "coin" = Coinbase, among other references such as this paragraph
libra isn't a coin
It is! Whitepaper refers to it as a coin multiple times!
"The Libra Association also serves as the entity through which the Libra Reserve is managed, and hence the stability and growth of the Libra economy are achieved. The association is the only party able to create (mint) and destroy (burn) Libra. Coins are only minted when authorized resellers have purchased those coins from the association with fiat assets to fully back the new coins. Coins are only burned when the authorized resellers sell Libra coin to the association in exchange for the underlying assets. Since authorized resellers will always be able to sell Libra coins to the reserve at a price equal to the value of the basket, the Libra Reserve acts as a “buyer of last resort.” These activities of the association are governed and constrained by a Reserve Management Policy that can only be changed by a supermajority of the association members."
citation*https://libra.org/en-US/white-paper/#the-libra-association
