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Libra VS XRP


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Anyone who's concerned about this competing with XRP fundamentally does not understand how money works. I just listened to the Libra tech lead say that "companies will pay their vendors in Libra"

I live in Hong Kong and I have experience in using Alipay or Tencent pay. The number 1 reason why it works so well in China is: 1) There are tons of fake RMB banknotes circulating in China.The ba

Libra is competing with banks, Ripple is working with banks. Banks have 3 choices: 1) Die 2) Work out their own crypto coin and compete with everyone in the market 3) Join Ripplene

4 minutes ago, ADingoAteMyXRP said:

Anyone who's concerned about this competing with XRP fundamentally does not understand how money works.

I just listened to the Libra tech lead say that "companies will pay their vendors in Libra" and I laughed and laughed and laughed. Companies could pay their vendors in Tether right now -- but they don't because that's completely insane. Moving Tether doesn't move value -- it moves a liability. As a vendor, I don't want Tether. I want money. The first thing I want to do is get out of Tether, or Libra, or Citicoin, and into real settled value, but I can't do this if there's no liquidity with that token, and there's no liquidity with that token if its value sits in an account on the other side of the planet.

I think my favorite part about the entire thing is that the members of the Libra Association get interest from other peoples reserves.

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Libra is obviously big competition and it is gonna take a big pie of the market. We have Heard Ripple using Uber as an example of a perfect Ripple tech use case. That is not happening.

That said, it can speed up adoption of blockchain technology by banks. Adapt or die. Hopefully Banks will prefer Ripple over Facebook. It could also have an opposite effects. With so many options out there now, customers may prefer to wait until things clear up a bit...

Time will tell. Ripple has had the last 2 years to take everything. Now it will have to fight for it.

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5 minutes ago, XRPonTheIronThrone said:

I think my favorite part about the entire thing is that the members of the Libra Association get interest from other peoples reserves.

Yea I read that. That's interesting. 

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2 minutes ago, Lamberth said:

Which would arguably require a banking license, wouldn’t it?

Yeah, that's part of my initial thought...this thing is huge and hairy from a regulatory perspective. Wietse received one in Europe for his payment app (who, i believe can compete with this), haven't heard anything about Calibra obtaining anything. Its really comical that Calibra is actually captive from a liquidity standpoint (literally taking customers interest that they would receive at a bank) while Ripple and XRP are unlocking liquidity for customers. Quite the yin and the yang.

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4 minutes ago, ADingoAteMyXRP said:

I can see it competing with retail banks, maybe -- central banks no way. But I do think stablecoins are the future of retail banking. If I have $500 in Tether, that's roughly equivalent to holding a $500 balance with Tether Bank.

Agreed! If everyone tried cashing in their Libra at the same time (assuming billions of users), Central Banks may actually have to step in and support this if there isn't enough liquidity! 

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6 minutes ago, jockeyng said:

Libra is competing with banks, Ripple is working with banks.

Banks have 3 choices:

1) Die

2) Work out their own crypto coin and compete with everyone in the market

3) Join Ripplenet and make a cut in the market

I believe Libra is going to push more bank customers to Ripple. It will be interesting to see how this turns out.

I love this logic.

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1 hour ago, T800 said:

I think a lot of small crypto projects on CoinMarketCap will died because of this. 

My only concern is I just keep thinking Facebook are gonna swoop in and take up a lot stuff. All these small payments from Indian to UK. This is a moving market and things change all the time and very quickly. 

Ripples main focus is cross-board payments for banks.  The Uber and lyft thing BG has talked about before will be out the door if they are now partnered with Libra.

“Success will mean that a person working abroad has a fast and simple way to send money to family back home, and a college student can pay their rent as easily as they can buy a coffee” Facebook writes in its Libra documentation.

I agree with your overall assessment, but I think Facebook irrespective of them using this "coalition" approach to protect themselves from scrutiny will still have to deal with a tremendous amount of regulatory issues, especially privacy, as they integrate themselves into a massive global payments network.  There is a difference when some alleged terrorist dollars flow through the SWIFT network compared to a global consumer product like Facebook.  They are going to have a lot of hurdles to clear with how their system is used and any flaws or missteps they make along the way are going to be scrutinized far greater than anyone will scrutinize ripple or any of these other fintech blockchain companies.

It won't all be roses for them.  Remember they pretty much automatically starting with the largest payments network by default.  Lessons learned will be painful ones.

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2 hours ago, XRPonTheIronThrone said:

I think my favorite part about the entire thing is that the members of the Libra Association get interest from other peoples reserves.

Incentives seem so misaligned with this, it's like SWIFT 2.0 but for a closed group seeking privatized profit.  Struggle to see people jumping at the chance to use this coin for remittances as they have yet to solve the last mile problem.  

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