I feel most of you are severely misunderstanding the goal behind Libra. I am strongly against that Facebook is creating a currency, but it would not be the end of cryptocurrency. If anything this is the preparation to drive mass adoption. Libra most likely will be a stable coin and be used either in conjunction, but in replace of traditional currency. This may be the foundation to eviscerate the current financial banking system, but create a large competitive and growing market for cryptocurrency. Facebook is almost to big to fail, but they aren't to big to compete with. This is why they are entering the crypto currency ring, if you don't see the value and take action in either building on it, or use this moment to the advantage then you'll be left behind.submitted by tycooperaow to CryptoCurrency [link] [comments]
Below I displayed some of my thoughts behind the value it CAN bring. We won't know for sure until their whitepaper is out. Half the world thinks bitcoin is dead, and Facebook is taking their opportunity to be re branded as "New Bitcoin" . Facebook Libra most likely will be the adoption businesses and international traders will use as means for payment. Facebook doesn't want to create another cryptocurrency or enter the financial industry as all of these companies are making credit cards etc..
They want to be the financial median. They don't want to compete in crypto, they want to conjoin and be the thing you need to join crypto.
They don't just want to topple the banks, they want to be YOUR BANK. The thing more profitable than a tech company is a financial one. They could seriously redefine banking.
Then again maybe I am missing the key reasoning for this fork.People often miss the fundamental reasons Bitcoin exists,
A 20 BTC (USD 180,000) bounty for the CoinJoin privacy implementation for Bitcoin has been awarded to privacy-centric Bitcoin wallet Wasabi and CoinJoin solution JoinMarket.. The bounty, co-held by Bitcoin core developers Gregory Maxwell, Pieter Wuille and bitcointalk.org owner Theymos, was awarded in a joined Bitcoin transaction earlier today to “several individual contributors directly as ... Nevertheless, there are also various other anonymization methods for transacting Bitcoins, such as ConJoin. However, when using the implementations of ConJoin (that itself is not a service which you can readily use but rather is a concept of how you can anonymize the Bitcoin transactions) or the similar tumblers, make sure to research about ... At its heart, the Bitcoin protocol consists of transactions. All these transactions are completely public on the blockchain, which means that anyone can see which addresses sent bitcoins to which addresses. If some of these addresses are linked to real world identities, it can reveal who transacted with whom ‒ or what for. This is at odds with privacy and – in particular ‒ fungibility. CoinJoin is a trustless method for combining multiple Bitcoin payments from multiple spenders into a single transaction to make it more difficult for outside parties to determine which spender paid which recipient or recipients. Unlike many other privacy solutions, coinjoin transactions do not require a modification to the bitcoin protocol. This type of transaction was first described in posts ... US Senate Candidate Is a Hodler, Sees Bitcoin as Alternative Store of Value to US Dollar US Senate candidate Cynthia Lummis is pro-bitcoin. She bought her first bitcoin during her time in Congress.
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Many Bitcoin critics rely on the argument that Bitcoin does not fit the definition of a money, a unit of account, or that it cannot be a store of value and a currency at the same time. Make sure to subscribe, hit the like button and don't forget to click the notification bell to get weekly updates. https://www.youtube.com/user/ameerrosic?su... Lets talk about Bitcoin and what I THINK caused the recent jump in price - enjoy! Add me on Instagram: GPStephan The YouTube Creator Academy: Learn EXACTLY h... Lou Kerner of CryptoOracle believes we now have something much better than gold in Bitcoin and cryptocurrencies that can be a solid store of value. Free Bitcoin Mining with Bitcoin Values 1BTC Per Week Speed (TH/s) - Duration: 3:02. How To Make Money Online For Free 3,395 views