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Facebook’s New Cryptocurrency Gets Big Backers

wsj.com

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Re: Facebook’s New Cryptocurrency Gets Big Backers

#41

Post by ahalam »

snitko wrote: post #37
Mengkudulangsat wrote: post #34

I'll be honest, I'm excited. The biggest hurdle to Bitcoin adoption are on-ramps / off-ramps. Businesses and individuals dealing with Bitcoin frequently get de-risked by banks and suppressed by regulators (e.g: China & India). Libra if (a) can be interacted with via API, (b) can itself be acquired via bank transfers / credit cards & (c) not geo-fenced, will eventually be adapted into one of the many exchanges and wil…

Why would anyone want a facebook coin that is completely controlled by Facebook which can be controlled by the government when with Bitcoin you get complete sovereignty?

Micropayments.

Re: Facebook’s New Cryptocurrency Gets Big Backers

#42

Post by c0wb0yc0d3r »

superkuh wrote: post #17

Is it really a cryptocurrency when it's completely centralized? No. This is just Facebook-bucks. Store dollars. It's has absolutely none of the benefits of a real cryptocurrency.

I can't read the article in it's entirety but decentralisation is not what makes a crypto currency a crypto currency. Visa, Master card, Joe shmoe, anyone can start a centralized ledger that uses crypto.

Re: Facebook’s New Cryptocurrency Gets Big Backers

#43

Post by snitko »

ahalam wrote: post #41
snitko wrote: post #37

Earlier quoted context omitted.

Why would anyone want a facebook coin that is completely controlled by Facebook which can be controlled by the government when with Bitcoin you get complete sovereignty?

Micropayments.

Lightning Network

Re: Facebook’s New Cryptocurrency Gets Big Backers

#47

Post by ramraj07 »

snitko wrote: post #37
Mengkudulangsat wrote: post #34

I'll be honest, I'm excited. The biggest hurdle to Bitcoin adoption are on-ramps / off-ramps. Businesses and individuals dealing with Bitcoin frequently get de-risked by banks and suppressed by regulators (e.g: China & India). Libra if (a) can be interacted with via API, (b) can itself be acquired via bank transfers / credit cards & (c) not geo-fenced, will eventually be adapted into one of the many exchanges and wil…

Why would anyone want a facebook coin that is completely controlled by Facebook which can be controlled by the government when with Bitcoin you get complete sovereignty?

Because not everyone cares about "complete sovereignty"? There's a reason why all these companies are still successful, most people don't care that much about their privacy or other dignities if it means convenience.

Re: Facebook’s New Cryptocurrency Gets Big Backers

#48

Post by pfundstein »

snitko wrote: post #37
Mengkudulangsat wrote: post #34

I'll be honest, I'm excited. The biggest hurdle to Bitcoin adoption are on-ramps / off-ramps. Businesses and individuals dealing with Bitcoin frequently get de-risked by banks and suppressed by regulators (e.g: China & India). Libra if (a) can be interacted with via API, (b) can itself be acquired via bank transfers / credit cards & (c) not geo-fenced, will eventually be adapted into one of the many exchanges and wil…

Why would anyone want a facebook coin that is completely controlled by Facebook which can be controlled by the government when with Bitcoin you get complete sovereignty?

If this coin can be traded freely on crypto exchanges, then it will provide a convienient on/off ramp for other cryptocurrencies.
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