The only thing that will decide if Libra takes over is how easy will it be to buy the coin...

i honestly think niggers are going to be the only ones using it. Maybe not even after a couple of them get busted for drugs. No one but boomers and shitheads even use facebook anymore

he also shilled ETH projects that ripped off investors
not a huge fan of his although I supported him through purchasing his book and a small $50 donation because his early talks were a nice introduction to bitcoin

Finance. Law. PATENTS.

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Roger was the one who sparked this "donation" to aa by calling him out for not being a millionaire and all of a sudden aa is a millionaire within days? I dont buy it one bit. I dont have the link but read uncovering the bitcoin cartel. Roger has so much more influence than most everyone realizes
I am almost positive hes a small blocker blockstream kike, he has his hands dipped in everything

I-i donated to him

Yet again, he's right on point.

it's stable at the start only by the hedge on bonds, after people start transacting it it will have volatibility, the whitepaper says they will burn tokens to regulate it but volatibility will still be present at the start

There is no way facebook coin is not some black mirror shit. Facebook already has so many data points on people, getting there spending habits and who you transact with is just that many more.

'you criticized Israel, account locked'

Fuck off Muslim

This is obviously true yet most crypto devs are too retarded to understand this. Let that sink in.

nobody gets excited for a fucking stablecoin

This. If bitcoin was a stablecoin none of us would even be here right now.

So some Jew is out-jewing other Jew? This is Jew to me

why do the fudding retards on here think that a stablecoin you can only use to buy shit on the facebook marketplace is a threat to btc ???

can you imagine if exchanges allow normies to buy btc and other crypto with libra ? to the moon frens

shekelberg please.

The entire third world (Africa, South America, Asia outside of China and Japan) Use Facebook as if their lives depended on it. This is 60% of human population.

Also it will be in whatsapp and instagram as well.

It's not a stablecoin like tether is a stablecoin.

Instead it has a bottom value that is guaranteed by assets (bonds and stocks, not currency). Then people can speculate all they want. They will not create any more libras the only thing they will do is burn libras if the value drop too much. This means that the value can go up, it just can't go down.

It's basically game over for all other crypto at this point.

who the fuck would send money via insta over other methods.
degenerates tipping ass thots thats who. thats literally it.

degenerates tipping ass thots is more than 10% of global GDP

well, fuck.
add the whole "muh climate" bullshit to that which could get PoW banned worldwide at any second

All payment cryptos will fail because no one wants to deal with every buy event being taxed as capital gains if the price of your crypto went up. Much easier to just pay with dollars.

that doesn't speak against crypto, it speaks against a multitude of cryptos and the dollar.
we all know we will be paying in some worldwide crypto in 10-20 years, just not which one.

Which is something libra avoids by being backed by assets. They can claim the assets went up in value which means you will have no capital gains similar to how a currency backed by gold won't have capital gains if gold increases in price.

It's a brilliant system and facebook thought this out. Libra will let you make gains from speculation without capital gains due to asset backing.

Basically the same thing with coinbase.

Would also like to remind everyone that no one has any trust or faith in kikebook and zuckbuks will fail when investors pull out after it fails to deliver. Wow its literally nothing

>Which is something libra avoids by being backed by assets.

I highly doubt it's that simple in the first place and they can always just make an exception for that even if that was the case.

Read the white paper. It's not started by Facebook. Instead it's created by around 100 companies all with a similar stake so Facebook is just 1/100th responsible for it. The other entities are international banks. Mastercard, Visa, Paypal, Stripe and lots of other big multinationals.

Why the hell don't people just read the whitepaper it's incredibly easy to understand and makes a lot of misconceptions moot.

Did your great uncle have to pay capital gains because his USD appreciated 500% due to gold prices booming? No because capital gains aren't paid over assets backing currencies.

>"It is important to highlight that this means one Libra will not always be able to convert into the same amount of a given local currency (i.e., Libra is not a “peg” to a single currency). Rather, as the value of the underlying assets moves, the value of one Libra in any local currency may fluctuate. "

Here is the proof that it's not a stablecoin and not pegged to currency

libra.org/en-US/white-paper/#the-libra-currency-and-reserve

This is very likely going to take over crypto.

Lol, did you even read the whitepaper? if you did then you can't understand shit, more than half of your comments here are either inaccurate or just wrong

Maybe but somehow they made gold backed dollar disappear anyway. Coincidence? They made every buy event taxable on purpose to make cryptos unusable as currency. If it turns out it's not enough they'll just ban them completely.

Can you specify what you think I said wrong so I can directly quote the whitepaper and prove you wrong?

You are really, really, really stupid.

>Libra is designed to be a stable digital cryptocurrency

en.wikipedia.org/wiki/Company_scrip

We will work for our benevolent Zuck overlords. We will be paid in Zuckbucks. We will spend our Zuckbucks in Facebook approved retail partnership. We will be happy.

Yes but it's not a stablecoin like you know it. Libra is stable in the sense that the value won't drop. But it's not "stable" as it still allows the value to go up, just not down. Tether is pegged to the dollar and is a true stablecoin that stays at $1.

Libra is NOT a stablecoin that stays at $1. Instead it can't go down in value but CAN go up in value.

Why is this (((faggot))) shilling Libra this hard ?

Really joggin my noggin

Tether isn't really "pegged" to dollar either, it has fluctuated quite a bit.

I believe it

Your understanding of this is so off that it's not even the opposite of what you are saying, it's like orthogonal to the truth.
You have somehow managed to misinterpret everything that you've read. This is why stupid people shouldn't be thinking/researching for themselves.
Libra has no speculative value. It is tied to the value of a bundle of currencies. Buying Libra is essentially buying an ETF of currencies, which are all inflationary. And even if they include bonds, it's still just like an ETF and speculation will have no effect on the price.

literally the chad investor chart

> Instead it can't go down in value but CAN go up in value.
LOL

Libra doesn't have a bundle of currencies as its backing (where do you people get this from for fucks sake?) It's backed by a mixture of financial assets such as stocks of the participating companies and banks and government bonds. It says so in the whitepaper.

>Instead it has a bottom value that is guaranteed by assets (bonds and stocks, not currency). Then people can speculate all they want.

False, the value depends entirely on the underling assets as the value of tether depends entirely on the USD, people are not speculating about the Tether price, it's stupid; do you overpay ETFs, funds, etc? If yes, you're stupid.
Other that but the interests of those assets are usedto reward the companies mantaining the network so Libra will have AT BEST the same value of the underlying assets because the value of most of them derives from their interests.

>Which is something libra avoids by being backed by assets. They can claim the assets went up in value which means you will have no capital gains similar to how a currency backed by gold won't have capital gains if gold increases in price.

What? again, do you think that if I have an ETF , a mutual fund, gold certificates, etc I don't have to pay capital gain taxes? It doesn't work that way in my planet.

You don't know what you're talking about

>people are not speculating about the Tether price

To clarify, they might short it if they think the value is going to collapse but it has a maximum reasonable price, anything more than 1 usd is unreasonable and if it happens something is wrong

So it's an attempt for Facebook to become a payment processor similar to the ApplePay shit that Tim Apple wheeled out in early 2019.

It's not an attempt by facebook. Facebook is just 1 of the 100s of companies that came together to start Libra. Other companies are mastercard, visa, Stripe, paypal. Also 20 international banks and a couple large multinationals. These all have equal stakes as facebook.

Please read the white paper.

Why do you sound like a paid shill?
It boggles my mind to think that some random user is posting so fervently about this that, even though he's doing this completely for free, he still comes off as a paid shill.
Of course, you must disregard my statement if you are indeed a shill.

I don’t really care is Libra succeeds or fails, it’ll just make the word cryptocurrency more popular. If it succeeds then maybe some coins will actually care about mobile wallets and accceasibility. If it fails, then stablecoin hatters can pat themselves on the back

I'm not a shill I'm just an oldfag that still believes in the original bitcoin dream of a universal global currency independent from government control.

I know Jow Forums is more about speculation of price as a form of gambling but some of us oldfags still believe in the original dream. Something Libra is the first at genuinely trying to tackle.

Smells like shill, acts like a shill, it is a shill

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How is this different from itchy and scratchy dollars? What would normies even zpend it on?

You can spend it everywhere you can use paypal or creditcards since paypal,visa and mastercard support it.

The store doesn't have to support it since it will be converted in its currency value immediately.

>original bitcoin dream of a universal global currency independent from government control.

I don't see how Libra could possibly fit the bill here with a centralized entity that determines when the currency is minted or burned.

Not minted, only burned. which is similar to the bitcoin supply slowly dropping due to misplaced keys

>To implement this scheme, the Libra coin contract allows the association to mint new coins when demand increases and destroy them when the demand contracts.

From the white paper

Yeah but it's not "minted" as in created from scratch. They need to back it with new assets for every libra created. Which means more stocks and government bonds. At the value of creation as well.

So for example at the start they have 1 libra and they have $1 worth of assets backing it. Then the value of libra goes up to $3 due to extra demand.

If they want to mint new libra they must actually now put $3 worth of assets for every libra made. This is to ensure libra never drops in value but can only go up. ergo they can't manipulate libra to make the price go down, only to make it go up

Absolute brainlet. Read up if you can even understand developers.libra.org/docs/assets/papers/the-libra-blockchain.pdf

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So basically this is fake crypto that normies will gladly use because of its convenience and transparency (aka handholding). This is an attempt to crash BTC by appealing to the normies.

See
You obviously did not read the technical paper or you cannot understand it

dude literally in the same paragraph as that you highlighted they confirm what I wrote.

kek.. i met him once in vegas after a bitcoin conference, unironically at a blackjack table. fucker is a degenerate, he told me he gambled away all his bitcoin years ago. thats why he was broke, thus the 1 million dollar 'donation' that was actually blockstream bribe money. he probably gambled that all away already too. now he just goes around giving paid talks sucking blockstream cock

It's a real crypto that's a mixture between a stablecoin and a normal crypto that ensures the value only goes up over time and can't go down which will ensure everyone and their dog will use libra as there are no downsides to doing so.

>Not minted, only burned.
So which is it user?

Read

Because if its stable people will actually use it?

sounds like a Ponzi scheme

There is a whole lot of fear and cope ITT.

Shitcoiners are really afraid of their investments going to 0

It isn’t decentralized if a set of chosen entities gets to choose the mint/burn governance. Centralized shitcoin

>This is to ensure libra never drops in value but can only go up

How in the fuck is the value supposed to be stable if it's value only goes up and up but never down? You realize there's a contradiction here?

It's not a shitcoin if the centralization ensures the valuation only goes up over time. Are you going to call it a shitcoin and refuse to invest when you see the value going up for a year straight.

The valuation (in dollar) only goes up because the coin is stable while the dollar is inflationary. The coin is backed by company stocks and government bonds all which increase in value over time. The libra foundation burns coins to ensure the value doesn't go down so the only thing it will do is slowly over time increase in value.

>>This is to ensure libra never drops in value but can only go up
This is the most retarded statement itt

>Why the hell don't people just read the whitepaper
It requires time and critical thinking while I can just trust the first retard on biz

It's already explained... You deposit fiat - Libra is created. You withdraw - Libra is burned

No company can have more than 1% vote power, even FB

>value going up for a year straight
It will go up 5% per year if that. Shitcoin

The development of the protocol is (core) but the protocol itself isn't, zuckbuck is a pervert totalitarian version of Bitcoin, you better bet it loses the fight for the sake of everyone.

Yes it would do so organically. But with all the extra fomo and people jumping in on it faster than assets can represent the coin it will pump insanely hard. I expect a 100x within the first year.

The whitepaper says
>Libra is designed to be a stable digital cryptocurrency

The whitepaper doesn't say
>the value doesn't go down so the only thing it will do is slowly over time increase in value

>mint new coins when demand increases
You think it will go 100x? Topkek

Dude no joke. It's gonna be back by multiple types of currencies, will have security, will be from Facebook (everyone knows them), will be bought by normies due to its simplicity, you'll be able to flex on everyone else as you total value will be available for to see if you want them to (clout), and it's gonna be peddled to visa, mastercard, PayPal, etc.

It's fucking over. All other coins will be shit. Once transactions go live and are proven to be simple, they win. If we invest we win. Do not sleep my lads. Facebook likes to pivot and this is their way of doing so. They're the only company in the world able to go toe to toe with Google, and this will surpass them, unless Google also creates a crypto. Which they will if this takes off. However early adaptors will have the upper hand. Once this happens, I suggest selling asap. Because soon enough, countries will outlaw its usage due to more competition to real currencies.

Trust me. It's a win win. If no competes, you win. If someone competes, you dip and still win.

They need to represent it with assets before they can mint it. Do you really think they can find enough bonds and stocks that they need to create new libra on time? No. So the rate at which they can mint new libra will be capped and thus libra will moon.

>implying that these functions aren’t automated
Jfc. I’m done. I hope you invest in a stablecoin thinking it’ll 100x

Nigger how the hell are they going to get US government bonds if there are no bonds for sale? How the hell are they going to get them to create the libra coins? If the demand grows faster than the necessary bonds and stock supply that is available the valuation will pump like a motherfucker. Causing even more FOMO which will quickly result in the entire global currency system being replaced with libra.

I hear tether is also backed by real assets.

tether is backed by fiat. libra is backed by stocks and government bonds. Stocks and government bonds appreciate in valuation over time and also outperform inflation which means libra will only go up in price over time while tether stays at $1 forever.

>I hear tether is also backed by real assets
This

Libra will mint for demand before backing with assets to ensure stable value. I’m not sure why I’m helping you at this point retard

That's illegal. You need to have the assets ready before starting minting. I'm sure libra foundation will have a supply ready for emergencies but once that runs out it's going to moon.

If you want an investment that will see crypto gains potentially then invest in Libra Investment Token (LIT). But by the time you can all the original users from the permissioned ledger will have loaded their bags to dump on your sorry retarded ass

if you do that it's not crypto anymore you no longer have control and security. might as well use any centralized payment provider.