Libra May kill all stable coins and may be best trading pair for bitcoin

[riverdip]

Libra May kill all stable coins and may be best trading pair for bitcoin

[corebob]

I think I'll stick to gold myself

[riverdip]

I think I'll stick to gold myself

stable coins like USDT, true USD and more

[pushups44]

Libra May kill all stable coins and may be best trading pair for bitcoin

Libra will increase liquidity for bitcoin and make it easier for people to obtain bitcoin, since it will make people feel more comfortable holding virtual currency. There will always be other stablecoins, in my view, since investors may have their own preferences over holding particular fiat currencies.

Some investors may prefer a token exclusively pegged to the U.S. dollar, pound, yen, won, etc.

[rdluffy]

I'll refuse to use this coin no matter what, I don´t agree with the policies of facebook and will not support this idea
I prefer to use other stable coins

[CryptoGamblingSites]

Nobody trusts Mark Zuckerberg to create a currency that anyone can own and use without repercussions

https://techcrunch.com/2019/06/18/facebook-libra/

Each founding member paid a minimum of $10 million to join and optionally become a validator node operator (more on that later), gain one vote in the Libra Association council and be entitled to a share (proportionate to their investment) of the dividends from interest earned on the Libra reserve into which users pay fiat currency to receive Libra

    Payments: Mastercard, PayPal, PayU (Naspers’ fintech arm), Stripe, Visa
    Technology and marketplaces: Booking Holdings, eBay, Facebook/Calibra, Farfetch, Lyft, Mercado Pago, Spotify AB, Uber Technologies, Inc.
    Telecommunications: Iliad, Vodafone Group
    Blockchain: Anchorage, Bison Trails, Coinbase, Inc., Xapo Holdings Limited
    Venture Capital: Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures
    Nonprofit and multilateral organizations, and academic institutions: Creative Destruction Lab, Kiva, Mercy Corps, Women’s World Banking

If you want to trust a bunch of bankers and regulators to create money we all can value and trade as money (without high fees, long term costs, privacy violations, lack of security and anonymity) then go do it!!


This is good for bitcoin. Shitcoins are still shitcoins regardless who creates them.

[Lizzylove1]

I suspect same thing since it will be traded in exchanges, Libra coin may decimate the power of most stable coin, am always careful not to always leave my fund in USDT. USDT team must try to do something about their coin before Facebook give them a hot competition. Bull run is coming. God bless Satoshi.

[tabas]

Who cares if it will kill all stable coins? I'm holding bitcoin for myself and everything that's pair with bitcoin has to compete for themselves.
The advantage that this facebook coin has is that they are partnered with different companies to assure that their coin will be used for some services.

[charlie137]

with all the circus around fb its gonna be a fun run + heavy adoption pushes 🍿🍿🍿 and its not like stablecoins are that stable so far. at some point users would be like Why i have to hold that fb coin if i can get btc first hand)

[RealKariverson]

In addition, members will also maintain the supply of Libra in response to demand—meaning they will issue new Libra as needed, and destroy the digital currency when people redeem them.

Members are also required to support a reserve fund to keep the value of the currency stable. In order to avoid the notorious volatility of cryptocurrencies like Bitcoin, each unit of Libra will be backed one-to-one in a basket consisting of dollars, pounds, euros, and Swiss francs.

[Twinkledoe]

with all the circus around fb its gonna be a fun run + heavy adoption pushes 🍿🍿🍿 and its not like stablecoins are that stable so far

I think that is one major advantage of fb coin. Their adoption will be easier as compared to other struggling coins. I will take it as a positive development in crypto. Might help in further understanding the world of crypto by ordinary individuals who are into fb. This might pave the way of more btc adoption, who knows what the future holds?

[charlie137]

with all the circus around fb its gonna be a fun run + heavy adoption pushes 🍿🍿🍿 and its not like stablecoins are that stable so far

I think that is one major advantage of fb coin. Their adoption will be easier as compared to other struggling coins. I will take it as a positive development in crypto. Might help in further understanding the world of crypto by ordinary individuals who are into fb. This might pave the way of more btc adoption, who knows what the future holds?

such adoption)

btc had a satellite for over 2 years till it really got some traction and nobody could give less fucks ahahah. if blockstream would do it by 2017 - price would be over 50. but after the winter....

[Nawrod]

It has a great potential thanks to infrastructure provided by facebook and its partners. Currently, obtaining bitcoin isn't easy process - at least for newbie. Buying it on exchange usually takes time, cause you have to pass whole verification process. The easies are services like buycoinnow.com, where you don't have to create an account and transactions are much faster - but it still takes usually about an hour. Obtaining Libra probably will take few seconds. Compare this with a global reach provided by platform which Facebook is.
And don't get me wrong, it might be a fiasco in the end, but as for now, this coin looks like at least potential game changer on the crypto market (even if it's not crypto itself)

[Shenzou]

Libra May kill all stable coins and may be best trading pair for bitcoin

Mostly no, if Libra would be a stablecoin meaning that it will be anti volatile, so its value will not likely to be changing that much, so it will be similar to fiat so there is no margin of prices, so you won't be able to buy at a low price and than wait for the price to go up and sell to collect profit like it is the case with bitcoin, so i  don't think that it will be a trade friendly coin, i think that Libra will only have a more easier access than bitcoin and it will be like an introduction rather than a base for people who don't know about crypto and not trading. 

[anatolij.shishkin]

It is not worth raising to the top a project that has not yet entered the market. And also you should not forget that the majority of large countries will not be able to use this coin. I generally have a skiptic attitude to this product. Yes, the market will strengthen. But a stable coin does not have huge pot-tonals for growth. Yes, and it will take years that she would get at least to the stability of the USDT and traded on all the exchanges.

[nutella_11]

It has a great potential thanks to infrastructure provided by facebook and its partners. Currently, obtaining bitcoin isn't easy process - at least for newbie. Buying it on exchange usually takes time, cause you have to pass whole verification process. The easies are services like buycoinnow.com, where you don't have to create an account and transactions are much faster - but it still takes usually about an hour. Obtaining Libra probably will take few seconds. Compare this with a global reach provided by platform which Facebook is.
And don't get me wrong, it might be a fiasco in the end, but as for now, this coin looks like at least potential game changer on the crypto market (even if it's not crypto itself)

I think that although buying Libra will last less time than buying Bitcoin, it won't be more impactful than BTC. It doesn't mean that Libra won't be profitable, I think that this will be better choice than some altcoins. That's for sure because it has a great position (in cryptocurrency world) which is conditioned only by its brand.

[bluesnup]

This token will take the privacy out of crypto

[Yudhisthir]

Libra May kill all stable coins and may be best trading pair for bitcoin

The times for centralized stable coins are now limited. It would highly depend on how decentralized would the Libra stable coin would be.
On comparison, Libra would surely be a instant hit as the current most used stable coin is a shady token from a shady exchange.

[magicrypto]

Libra May kill all stable coins and may be best trading pair for bitcoin

I dont think so, it will be a popular coin, but nobody seriously will not use it to store or transact a big volumes of money, because it is totally regulated and controlled by goverment, it denies all main ideas of crypto.

[mendra_2009]

Not rule out the possibility that Libra will be an option for fans of Stable coins and maybe the king of stable coins. Many companies and also Visa + Matercard have supported this project. Regarding the best partner with BTC, I don't think that is necessarily the case because this project has not been officially listed on the exchange. We'll wait for next year 2020.