Even though Facebook has not released its own cryptocurrency yet, it has already made a lot of fuss on the internet. The expectations are huge, and many reputed companies are already backing the new project. Uber, Vodafone, MasterCard, and many others are eager to use Libra coin to provide better services to Facebook users.
Let’s not even try to compare bitcoin and libra. Libra is only as valuable as fiats, so, how does it even qualify as a true crypto?
I have no doubts that libra will live to the benefits outlined in its whitepaper, but what happens when the dollar falls?
As you said, it is mere business and nothing else. They are simply using their already famous business to grow another business and create a monopoly. I just hope that it doesn’t work out the way they want it to.
Haha. Libra will soon become a joke and we’ll have a great laugh when that happens.
but i’m glad Libra is happening. People need to know more about cryptocurrencies. I’d be forever grateful to Zuck for bringing the concept of cryptos to half the world in one go.
The one good thing that Libra would do is introduce cryptos to a bigger population.
As they say, Libra would be initially focusing on making remittances cheaper and faster. Well, they can very well do that. but on any random day, I’d happily choose other stablecoins over Libra.
But again, considering people’s familiarity with Facebook and its products and the lack of it with the general crypto companies and products will lead them to choose Libra over others.
Time would tell us better what is to happen with Libra.