Investing

Facebook Cryptocurrency

  • Last Updated:
  • Jun 23rd, 2019 4:02 am
39 replies
Penalty Box
Apr 19, 2017
828 posts
634 upvotes
Dont waste your money on that.
CucuCovers, GreatCanadianRebates, LendingLoop, Mintos, PayMi, Stack, Tangerine, TransferWise, Uber, Wealthsimple
Newbie
Feb 12, 2013
13 posts
2 upvotes
This has been announced for a while. Expectation that it will launch by 2020.
It will be a disruptor for sure as FB has existed longer than Bitcoin and has a following, user base and semi ecosystem.

I personally don’t like FB especially with the privacy abuses they continue with. As well as sell our surfing data to adverts which we see no return. So as long as many people are will to trade off integrity for profit or the assumption of it. FB coin will succeed.

Remember their target are young, easily manipulated with the attention span of a blink of an eye.

The FB coin should be and likely be successful.

From a investor stand point if you can get it. Why not?
Member
Dec 14, 2017
223 posts
176 upvotes
Philosophy1 wrote:
Jun 16th, 2019 6:00 pm
This has been announced for a while. Expectation that it will launch by 2020.
It will be a disruptor for sure as FB has existed longer than Bitcoin and has a following, user base and semi ecosystem.

I personally don’t like FB especially with the privacy abuses they continue with. As well as sell our surfing data to adverts which we see no return. So as long as many people are will to trade off integrity for profit or the assumption of it. FB coin will succeed.

Remember their target are young, easily manipulated with the attention span of a blink of an eye.

The FB coin should be and likely be successful.

From a investor stand point if you can get it. Why not?
What are you suggesting Libra will disrupt?
Deal Fanatic
User avatar
Sep 1, 2013
5104 posts
383 upvotes
7865875 wrote:
Jun 16th, 2019 8:52 pm
What are you suggesting Libra will disrupt?
I assume he was referring to Bitcoin as he mentioned it specifically, but in my opinion it could disrupt the current system of fiat currencies if it can reasonably address the shortcomings of Bitcoin.
Deal Fanatic
User avatar
Sep 8, 2007
6912 posts
6084 upvotes
Way Out of GTA
CheapScotch wrote:
Jun 17th, 2019 6:18 am
I assume he was referring to Bitcoin as he mentioned it specifically, but in my opinion it could disrupt the current system of fiat currencies if it can reasonably address the shortcomings of Bitcoin.
A currency Zuck can ban you from simply for your political beliefs? If so.....Perhaps there is more shortcomings than bitcoin.
Deal Addict
Jan 20, 2016
2024 posts
993 upvotes
Houston, TX
So many user###### recently arrived pumping Bitcoin in multiple "news" threads that Google or FB etc big name are adopting it... while there is a separate thread about how good Bitcoin is (not going good enough so far...)
Coincidence?
- No politics in sigs - Mods
Newbie
Feb 12, 2013
13 posts
2 upvotes
Precisely.
It will shake a few coins (probably) out for good. As FB as a mainstream entity is huge. Not very few coins (alt or otherwise) have that leverage with existing 'real' transactions. At least for the moment.

BTW -- not a he, but she. LOL
Deal Fanatic
Mar 10, 2005
7643 posts
2040 upvotes
Yea it's really disrupting bitcoin :facepalm. It's a stable coin used to transact in the FB world totally different than bitcoin.
"Leaders who don't listen will eventually be surrounded by people who have nothing to say"
Member
Dec 14, 2017
223 posts
176 upvotes
CheapScotch wrote:
Jun 17th, 2019 6:18 am
I assume he was referring to Bitcoin as he mentioned it specifically, but in my opinion it could disrupt the current system of fiat currencies if it can reasonably address the shortcomings of Bitcoin.
What shortcomings do you believe Bitcoin has that Libra will correct?
Do you believe the centralized nature of Libra will hinder its ability to disrupt Bitcoin?
Deal Fanatic
User avatar
Sep 1, 2013
5104 posts
383 upvotes
7865875 wrote:
Jun 17th, 2019 8:36 pm
What shortcomings do you believe Bitcoin has that Libra will correct?
We will have to wait for the details of how Libra works before we can address that question.
7865875 wrote:
Jun 17th, 2019 8:36 pm
Do you believe the centralized nature of Libra will hinder its ability to disrupt Bitcoin?
Perhaps you want to rephrase? I said Libra could disrupt the current system of fiat currencies.
Deal Fanatic
User avatar
Dec 14, 2010
5397 posts
5450 upvotes
Libra's goal is not to compete with crypto. It's to compete with banks. It will be centralized and it will be a stable coin.

Good technical article on the Libra white paper.



Rod
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Member
Dec 19, 2004
203 posts
37 upvotes
Thornhill
rodbarc wrote:
Jun 18th, 2019 10:18 am
Libra's goal is not to compete with crypto. It's to compete with banks. It will be centralized and it will be a stable coin.

Good technical article on the Libra white paper.

Rod
yeah this sounds like a bank that will hold deposits... who regulates a global bank with its own global currency?
Deal Fanatic
User avatar
Dec 14, 2010
5397 posts
5450 upvotes
ranny3 wrote:
Jun 18th, 2019 3:40 pm
yeah this sounds like a bank that will hold deposits... who regulates a global bank with its own global currency?
The Libra Association does.

Libra is not a blockchain, it's a form of digital money like PayPal. It's a new banking system with all restrictions from banking systems. It's not descentralized. Every info is monitored and captured. It doesn't compete with Bitcoin or Ethereum. It's PayPal 2.0.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

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