Can Libra bring any advantages to bitcoin?
Few weeks ago, Facebook announced its intention to launch a cryptocurrency - 'Libra' !
Are there any advantages that Facebook's Libra can bring to bitcoin?
Watch the video to find out my views.
Disclaimer: This is not financial advice. This is not tax advice. This is not legal advice.
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Can't see Libra bringing anything but advantages. It doesn't compete in any way with bitcoin but will get people use to using wallets and potentially offering easier on ramps. I think stable coins and the companies like ripple have the most to fear!
The other positive is it could fast track governments into clarifying certain positions on virtual curreny.
Yes I agree. Bitcoin is decentralized, and Libra is centralized. So I don't think they are in competition. Yes I think government's will clarify their positions too, from which people will get a clearer view of virtual currencies.
Do you think facebook would have had the same pressure if it was simply looking to integrate something like steem or BAT instead?
Libra being centralized , I think Facebook will promote it much more than they would promote an integration of decentralized virtual currencies. I am unsure of the effects of integrating with other virtual currencies.