Facebook & Libra

[drphilofebay]

What do you think about Libra? I certainly think that Facebook is aiming for something larger than a currency, I think they're gonna integrate Libra with Facebook Marketplace and Facebook Marketplace is gonna be a new mainstream place to sell stuff easily.

[agent006140]

Congress wants to delay the release of Libra so they can take a better look of its impact

[agent006140]

Originally Posted by drphilofebay

What do you think about Libra? I certainly think that Facebook is aiming for something larger than a currency, I think they're gonna integrate Libra with Facebook Marketplace and Facebook Marketplace is gonna be a new mainstream place to sell stuff easily.

I think its plan is broader than selling,it wants to takeover some of the tasks now performed by banks,like wiring money,exchanging money and holding on to your money.

[slokor]

Whatever happens with Libra it is certainly putting the spotlight on crypto and bringing it further into the mainstream. Cant ignore it anymore.

[Sunspot144]

Scary idea to think businesses can also operate as their own 'banks' with their own currency.

[drphilofebay]

Originally Posted by agent006140

I think its plan is broader than selling,it wants to takeover some of the tasks now performed by banks,like wiring money,exchanging money and holding on to your money.

Well ofcourse, but I mean they're gonna integrate it with FB Marketplace.

[agent006140]

of course,they are going to integrate to FB market place plus your living room,your toilet,your shower,cat litter everything

[jmag91]

I agree with Slokor. It will force the masses into learning and understanding crypto. It feels like this may be a "last chance" to invest in crypto at a decent price. I think by the end of 2020 we see Bitcoin at $30k+.

[slokor]

Originally Posted by jmag91

I agree with Slokor. It will force the masses into learning and understanding crypto. It feels like this may be a "last chance" to invest in crypto at a decent price. I think by the end of 2020 we see Bitcoin at $30k+.

Don't tell Empirestate (or any of the other haters).
Said it before ill say it again - Im holding mine all the way to 2025.

[agent006140]

what is better?Gold or crypto currencies?
This may be off topic-but the Venezuelan central bank has been sending its gold reserve to Nairobi refinery to be melt down and sell them in Middle East.
Will Bitcoins be a better alternative than gold in this case?

[xenix]

Libra wont add any value to crypto it will be another ripple which is centralized and kills the concept of crypto.

[agent006140]

it is not a crypto currency,as it is backed by hard currencies,in fact it has to build reserve in those currencies.
It could be a threat to the current system if all the FB users start to use libra among themselves?
Gold is still the old standard for store of value,you can take gold and go to a foreign country and convert it or just use it outright to get goods and services,but gold is too clumsy to carry.

[drphilofebay]

Originally Posted by agent006140

what is better?Gold or crypto currencies?
This may be off topic-but the Venezuelan central bank has been sending its gold reserve to Nairobi refinery to be melt down and sell them in Middle East.
Will Bitcoins be a better alternative than gold in this case?

That's why Venezuela is a ****hole at the moment.

[agent006140]

why is Libra such a fuss when Bitcoin is not.
Libra is pegged to major currencies and back by reserve in govt debt papers.