click here if you want to see your banner on this site

Author Topic: the Facebook Libra project?  (Read 298 times)

Delgboke

  • Garden Hero
  • Hero Member
  • *****
  • Posts: 699
  • Country: ng
  • Karma: +0/-0
  • Gender: Male
  • Nobtx-premium cryptocurrency and forex signal noti
    • View Profile
the Facebook Libra project?
« on: June 27, 2019, 04:21:04 PM »
The Facebook new cryptocurrency project called Libra project has created a whole lot of public agitation even in the cryptocurrency industries, on your own understanding what are the possibilities of this Libra project succeeding in the crypto face.
            ██████████  ██████████▄▄
         █████████████  ██████████████▄▄
   ▄███  █████▄                  ▀▀███████▄
  ██████   ▀█████▄          ████     ▀▀█████
 █████        ▀█████▄       ████        █████
 ████            ▀████      ████         ████
 ████         ██▄   ▀█  ██▄ ████         ████
 ████▌        █████▄    ████████        ▐████
 ▐████        ████████    ▀█████        ████▌
  █████       ████ ▀██  █▄   ▀██       █████
   █████      ████      ████▄         █████
    █████▄    ████       ▀█████▄    ▄█████
     ▀█████▄  ████          ▀█████▄   ██▀
       ▀█████▄                 ▀█████
         ▀██████▄▄          ▄▄██████▀
            ▀▀████████  ████████▀▀
                ▀▀████  ████▀▀
Take care of your financial privacy
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
A blockchain loyalty scheme and more
██
██
██
██
██
██
██
██
██
██
██
██


███████████████
███          ██████████████████
████████████████████████████████
███                          ███
███                          ███
███             ██           ███
███       ██   ██   ██       ███
███      ██    ██    ██      ███
███       ██  ██    ██       ███
███                          ███
███                          ███
████████████████████████████████


           ████    ████
       █████████ ████████
                          
████████████████████████████
█████████████████████████████
██████████████████
██████████████████ ███████████
██████████████████ ██    █████
██████████████████ ███████████
██████████████████
█████████████████████████████
████████████████████████████


        ▄█████▄
      ▄█████████
     ████    ███▌
    ███       ██▌
   ▐██ ███  ████
   ▄███████████
  ███████████▀
 ████  ███ ██▌
▐██       ███
▐███    ████
 █████████▀
  ▀█████▀
██
██
██
██
██
██
██
██
██
██
██
██
ANN         Facebook
Twitter    Telegram    Discord
Nobt-plataform

Penny_btc

  • Jr. Member
  • **
  • Posts: 69
  • Karma: +0/-0
    • View Profile
Re: the Facebook Libra project?
« Reply #1 on: July 01, 2019, 01:33:37 PM »
There is huge potential for Librea coin as it stands away from other stable coins

How Libra is different from other Stable Coins?
Stable coins like Tether, TUSD, USDC, PAXOS, and others are pegged to a single fiat currency. But in case of Libra, it is not pegged to a single fiat currency, but backed by a basket of assets denominated across 4 fiat currencies: USD, EURO, GBP and JPY.

Libra will be backed by a fiat currency if the following standards set by the Libra Reserve are met:

#1 Only fiat currencies with a free float will be eligible while the ones that are soft-pegged would be redundant in the Libra reserve.

#2 The decision-making process should be tied to either public organizations like Central banks or a free accessible asset like commodities.

#3 The fiat assets must be universally recognized across various jurisdictions to have a programmatically quotable value.

khufuking

  • Sr. Member
  • ****
  • Posts: 378
  • Karma: +0/-0
  • SonicX - Faster, More Efficient and Secure platfor
    • View Profile
Re: the Facebook Libra project?
« Reply #2 on: July 01, 2019, 02:57:19 PM »
Libra is 100% useless to crypto space and has nothing to offer its users.  Libra is just a form of digital currency and just because they will use blockchain that does not make them Cryptocurrency it is far away from being a real cryptocurrency. Libra will be just any other fiat wallet like PayPal etc nothing more.   

Paul76

  • Novice
  • *
  • Posts: 47
  • Karma: +0/-0
    • View Profile
Re: the Facebook Libra project?
« Reply #3 on: July 05, 2019, 12:27:19 PM »
How Libra is different from other Stable Coins?
Stable coins like Tether, TUSD, USDC, PAXOS, and others are pegged to a single fiat currency. But in case of Libra, it is not pegged to a single fiat currency, but ...
... to FOUR of them.
Imagine the difference
 :)


Libra will be backed by a fiat currency if the following standards set by the Libra Reserve are met:

#1 Only fiat currencies with a free float will be eligible while the ones that are soft-pegged would be redundant in the Libra reserve.

#2 The decision-making process should be tied to either public organizations like Central banks or a free accessible asset like commodities.

#3 The fiat assets must be universally recognized across various jurisdictions to have a programmatically quotable value.
Are these standards set in the Whitepaper?
Never heard of until now.

In particular #2 is absurd
Beside the fact that the sentence "The decision-making process should be tied to ... a free accessible asset like commodities" doesn't make any sense,
Libra will be managed by Libra Association.
Central Banks have no place in there




Using this affiliate link involves no extra costs or downsides 

katemi

  • Sr. Member
  • ****
  • Posts: 343
  • Karma: +0/-0
    • View Profile
Re: the Facebook Libra project?
« Reply #4 on: July 05, 2019, 04:34:10 PM »
I am sure that if the FB goes down into the crypto world, then certainly the price will be very expensive, maybe it can match ETH

Buganat

  • Hero Member
  • *****
  • Posts: 615
  • Karma: +0/-0
    • View Profile
Re: the Facebook Libra project?
« Reply #5 on: July 05, 2019, 10:24:20 PM »
Perhaps the Libra coin will be a stablecoin that will be tied to different cryptocurrencies and most likely this coin will be fully controlled.

Redix

  • Garden Staff
  • Legendary
  • *****
  • Posts: 1625
  • Country: id
  • Karma: +4/-0
  • Gender: Male
    • View Profile
Re: the Facebook Libra project?
« Reply #6 on: July 05, 2019, 11:40:10 PM »
For me, it is no doubt that Libra will be successful. As the popularity of Facebook, it is not difficult to promote it to people around the world. Libra has big potential to success just in a few days after it opens the token sale. I am very confident with that, but it is a stable coin, so not recommended for investment.

Paul76

  • Novice
  • *
  • Posts: 47
  • Karma: +0/-0
    • View Profile
Re: the Facebook Libra project?
« Reply #7 on: July 07, 2019, 11:25:40 AM »
I am sure that if the FB goes down into the crypto world, then certainly the price will be very expensive, maybe it can match ETH
It is a stablecoin,
its price doesn't depend on demand.
If demand for Libracoins is high, Libra-Management will create more Libracoins.
The price won't change.
Stablecoin

Using this affiliate link involves no extra costs or downsides 

 

Bitcoin Garden 2013-2022, All rights reserved | Privacy Policy | DMCA | About Bitcoin Garden | Support & Services