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,
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