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itcdominic

Hope Ripple hurries...... Facebook is coming

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I know I will get flack for this...  but we do not yet fully know what the powerhouse Facebook will fully do with its crypto. 

 

If said over and over... Ripple has a shrinking window to launch with Dominance.  Yes, I said Shrinking. 

https://www.reuters.com/article/us-facebook-crypto/facebook-reveals-libra-cryptocurrency-with-lofty-goals-idUSKCN1TJ0TN

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Posted (edited)
2 minutes ago, LiquidGoat said:

Are all other crypto’s panicking about mushbook coin, or is it just xrp holders? I don’t get it. Fb coin could in theory be a competitor for any aspiring currency replacement but yet only Xrp is getting bashed.

 

XRP is the only one with an actual, non-fictional use case, so yeah this makes sense that they’re the only one “getting bashed”.

Edited by Phintech

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Posted (edited)

Facebook has a long success history of success. First Facebook, then Instagram, WhatsApp, plus they have a partnership with Spotify. I have no doubt this libra coin will be implemented in all of the above which is 2.5 billion users all together. 

I must agree with you Ripple's window is shrinking by the day from now on. And whoevery says XRP bridge currency bla bla bla, with this Libra coin there might not be a need of brige curreny very soon.

Edited by CaptainGeorge

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This morning on CNBC, I believe, a gentleman with more knowledge about libre than myself stated that libre will be a decentralized network in which facebook will not control or can not control. So it sounds like a decentralized sudo-esk stable coin. I think this is a wait and see. Facebook is powerful with a lot of revenue and a lot of users. Facebook may or may not be a threat to xrp.

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There is always a need for a bridge currency. I think we must look at the fact that if you remove the borders of an asset for trade you remove the liabilities of nations. I'm fascinated by the idea of an "in the wild asset" that at some point will not be controlled.

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It seems they want to use Libra as a global currency. If that is the case and it's not a pegged currency or a stablecoin it will fail badly IMO. How can they expect people to hold volatile currency for payments? Moreover if shops don't accept it it will be only for intra users payments.

Also I don't get how unbanked will be able to use it. It's not clear how people can buy the currency. I don't think they'll have physical shops accepting paper currency as moneygram or western union in exchange for Libra.

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45 minutes ago, CaptainGeorge said:

Facebook has a long success history of success. First Facebook, then Instagram, WhatsApp, plus they have a partnership with Spotify. I have no doubt this libra coin will be implemented in all of the above which is 2.5 billion users all together. 

I must agree with you Ripple's window is shrinking by the day from now on. And whoevery says XRP bridge currency bla bla bla, with this Libra coin there might not be a need of brige curreny very soon.

To be honest, no1 gives a **** about real use, what it is used for etc... The only thing the crypto market runs on, is MONEY. Graphs and green/red numbers are the only things that influence this market. Facebook coin will not be used because it is a stupid idea. The people in Africa don't have internet or are too analogue to use it and why the **** would we use such a coin on whatsapp or facebook? Let me tell you what happens: Facebook launches, crypto rises, no1 cares about the real story, XRP price will moon because it is still so ******* low lol. The coins with no meaning are the coins that increase the most. 

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Posted (edited)

It is going to be pegged, offered in multiple currencies, and will be accepted in hundreds of millions of places.  In addition, it will be made available through a stand alone app.  In my opinion, Facebook's project has the potential to greatly reduce the consumer use case for multiple projects including XRP, XLM, NANO, etc.

If Facebook's product is cheaper and easier to use than the current financial system, consumers are likely going to use it.  Businesses will also accept it as credit and debit card fees eat away at their bottom line.  Also, Facebook and other companies are working on bringing free internet to certain parts of the world: https://info.internet.org/en/story/platform/.  

https://www.coindesk.com/facebook-launches-subsidiary-to-support-new-libra-crypto

Quote

Implied in this project is that wherever the Visa or Mastercard logo are accepted, Libra would follow suit,” Dante Disparte, head of policy and communications for the Libra Association, told CoinDesk in an exclusive interview. “In so many ways it’s a great leap forward for cryptocurrencies and, in many respects, a mainstreaming of this asset class.”

Customers interested in holding or transferring Facebook’s newly-announced Libra token will be given a number of options to do so, the company announced Tuesday, with an initial focus on international remittances.

Calibra will develop financial services and products around the Libra network, which will eventually be fully governed by the independent Libra Association. Calibra intends to start with a digital wallet for the Libra coin, which will let users transfer funds to each other, as well as store their tokens locally.

Notably, customers will be able to access the wallet functionality through a new standalone app on iOS and Android, or through Facebook’s Messenger and WhatsApp services. The Libra blockchain is expected to launch in full sometime next year.

“The central goal here really is financial inclusion,” Disparte told CoinDesk.

Access to these apps could be enormously significant. WhatsApp saw 1.5 billion active monthly users in the fourth quarter of 2017, according to TechCrunch. Globally 1.7 billion adults remain unbanked. The new effort is explicitly branded to reach those populations.

 

Edited by Sebastian

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I just want to say something completely non-emotional on this topic; Nobody trusts Facebook anymore. People who used to post every single day and spend hours on the site have left because of security concerns about their personal info. This is fact. Almost 2/3rds of my friend list on there are now ghost accounts who don't interact or post anymore. 

AND YOU THINK A FACEBOOK CRYPTOCURRENCY IS GOING TO THRIVE? 

Nobody trusts Facebook anymore.

No one. 

 

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5 minutes ago, YourAverageJoseph said:

I just want to say something completely non-emotional on this topic; Nobody trusts Facebook anymore. People who used to post every single day and spend hours on the site have left because of security concerns about their personal info. This is fact. Almost 2/3rds of my friend list on there are now ghost accounts who don't interact or post anymore. 

AND YOU THINK A FACEBOOK CRYPTOCURRENCY IS GOING TO THRIVE? 

Nobody trusts Facebook anymore.

No one. 

 

Thats because all the cool kids are on Instagram and Whatsapp now, and guess how owns them? Yes, Facebook!

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Some pretty dumb comments on this thread. Libra is a STABLECOIN. If you don't know what that means, look it up. It is NOT a competitor to XRP. In fact given the high level interactions between FB and Ripple including senior people leaving FB to JOIN Ripple it would suggest there are strong ties between the two. Libra will need a vehicle. XRP is the best around.

And if they don't work together? Nothing wrong with a little healthy competition. Cool the jets people. If something as small fry as this has you all-a-flutter you are in the wrong game..

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