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Libra VS XRP


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36 minutes ago, jockeyng said:

I think this is a good thing that Facebook is causing the stir in the mud. Ripple is trying to change the existing banking system for a long time, that's why you see Ripple's executive has been the board members in almost any global monetary organisation. Ripple is doing it in a very soft way, they try to be a "friend" of banks. Facebook is doing it the hard way, they are trying to replace banks/central banks. For those of us who want progress, I want to give a kiss to Facebook to kick all the old butt in the banking industry that has been stagnant for so long. It's time to get out of your comfort zone and embrace the new technology!!!

This is a good point. Imagine it from the perspective of a bank. It could very well push banks to Ripple and XRP if the choice is FB, JPM, Google coin, Apple Coin . . . 

FB is trying to be a central bank. That will be harder for them to accomplish than keeping the European Union together. It's not just that individuals do not trust them, entire countries do not trust them; in fact are hauling them in to testify for their piracy. 

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Ripple is already well established. Remember that they have hundreds of companies already signed up. Havent you all seen these tests on the ledger?

I mean geeze, they are testing gold bars on the XRP ledger. FB is not even in Ripples league. FB is a stable coin and XRP is an asset just like Gold.

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Agree that FB is doing a good job stirring the pot. The attention it is drawing is a good thing for XRP because FB’s product and brand is a real millstone around zuckerberg’s neck ( Imho)  That as it may be, i was amazed that the front page of one of Australia’s major national daily papers (Financial Review) devoted its whole front page to Libra.  And two full pages inside on commentary. It has drawn massive attention to crypto in general. Alas, nothing on Ripple or XRP. But while time is of the essence that also means time is on the side of Rippple and XRP me thinks. 

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6 hours ago, ADingoAteMyXRP said:

The title of this thread -- "Libra VS XRP" -- mischaracterizes what's going on... which isn't surprising considering the quantity of intentionally inaccurate titles we've gotten over the past few months.

Libra competes with Tether.

Libra does not compete with XRP.

Libra = everyday payments, cross-border payments, micro-transactions.  

 

Tether does not have access to 2.3b users. 

 

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Libra will be in competition with xrp. FB is a well known brand around the world, they have signed up partners like visa and Uber which a lot of people here were trying to connect dots to ripple recently so I don't know why people are not acknowledging that part and they are planning for cheaper cross border payments. Remember it's not about who has the best tech ,it's about who can reach mass appeal faster that wins. Hopefully xrp will actually be used soo ...

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8 hours ago, ringer2 said:

I remember claiming a year ago that it was naive to think serious competition wouldn’t enter this space. I was ridiculed and labeled a FUDsternas it couldn’t possibly happen to “the chosen one”. Well, I’ve been proved right over and over on here. 

Source?

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Saw this

 

it’s still extremely early to divine how Facebook’s Libra will play out. The company has launched many a program met with fanfare that ultimately sputtered and died. While Facebook does have a few big names at its side for this launch—including PayPal, Visa, Mastercard, Uber, Spotify, and others—there are a few notable omissions that could prove to be huge hurdles. Apple, Amazon, and Google are not listed as “founding members” in Libra’s white paper, for example. Neither are any banks. As FT Alphaville points out:

Don’t presume the presence of the more successful payment incumbents necessarily means their interests are aligned with those of Facebook. $10m isn’t too hefty a price tag for insider information about what Facebook is planning and/or a vote at the table when the time comes to sabotage the system. Everyone else of any note is either a loss-leading company yet to make a profit, a VC, a blockchain company, or an actual non-profit.

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https://www.coindesk.com/halt-libra-us-lawmakers-call-for-hearings-on-facebooks-crypto
 

Quote

 

The head of the U.S. House of Representatives Financial Services Committee wants Facebook to stop developing its new Libra cryptocurrency network – at least temporarily.

Congresswoman Maxine Waters asked Facebook to halt development of the Libra Network until hearings can be held. The move follows a letter written to her by her Republican counterpart, Representative Patrick McHenry.

McHenry wrote, “We know there are many open questions as to the scope and scale of the project and how it will conform to our global financial regulatory framework,” adding:


 

 

Edited by Julian_Williams
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 A consumer oriented micro payments coin (like Libra which will go live...in a couple of years and all we have is whitepaper) cannot be a threat to an enterprise settlement/utility token (like XRP which has an actual usecase). Unless of course you believe that banks will start sending millions to other banks using Whatsapp or something.

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This massively ambitious project wants to disrupt sensitive and complex existing monetary and financial infrastructure across national borders and do so via a privately controlled currency from the most publicly reviled and controversial company in big tech.

They may have money but I’d be surprised if it buys them this. Seems like hubris and risk of absolute failure is enormous. I would not be surprised if the token/cryptocurrency side of this disappears completely and they wind up doing regular payments.

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11 hours ago, ADingoAteMyXRP said:

The title of this thread -- "Libra VS XRP" -- mischaracterizes what's going on... which isn't surprising considering the quantity of intentionally inaccurate titles we've gotten over the past few months.

Libra competes with Tether.

Libra does not compete with XRP.

Exactly. Apples and oranges. 

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28 minutes ago, Danny said:

Exactly. Apples and oranges. 

Not sure why you say this. Libra is going after the same market as XRapid, ultimately. It’s just that XRapid adds the extra step of interacting with banks. Libra is p2p. 

Libra is a threat to banks. It is therefore a threat to XRP. It aims to handle the full gamut of transactions from microtransactions up. Therefore it is also a threat to BTC. How big a threat remains to be seen.

Competition might be a good thing. Lots of potential positives here regardless. Legitimises crypto and may steer regulators and banks towards favouring options which pose less existential threat.

Edited by JA8
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