Facebook's Libra Coin - Should we be worried?

Hi Chaps,

As we all know it’s hard work keeping up with so many new crypto’s being launched. We just or i don’t have enough hrs in the day to read all the information i would like. Soon as you seem to have read enough it’s gone obsolete… So finding the key areas and power reading for me at least has to suffice…

Should we be worried about Facebook’s Libra coin. I will admit i have not read enough on it as yet but will CARDANO ADA be overall better and Why?

Facebook has a major advantage because of it’s users that will see the Libra coin in there advertisements and news feeds etc. So i’m thinking even if Libra does not have the sophistication of ADA it will have the money to do what ever it needs to get implemented and amend as and where it needs too. Plus people will approve and respect it because it’s Facebook asset and has millions of users worldwide. That’s a fact and truth we have to accept. Although i’m not accepting it will be better it’s just my own personal thoughts.

What major points and advantages will ADA outweigh LIBRA? Genuinely interested in peoples thought’s

Here is an interesting article showing some limitations of Libra:

I always think that every coin have their own slice of cake. Not all, but some. What I do really hope is Libra is looking for new market out there rather then take from the current existing crypto market.

Current crypto is 95% enthusiasts, FB is only interested in the masses.

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Sorry not sure what you mean by this Rob “only interested in the masses”

Might be having a blond moment :thinking:

Like FB users: huge numbers, everyone and anyone, almost. They don’t care about the tiny numbers that are currently into crypto.

Libra is a stable coin. It’s a pure currency coin that might pay interest, but highly unlikely. Beyond a payment mechanism Libra is nothing else at the moment.

It may even never launch as far as I can tell… legislators are having heart attacks so I doubt they will let it exist in its declared form.

So at best you will have a centralized, permissioned ledger that allows you to pay someone ( it exists already—PayPal).

Or they will scrap the project.

If it manages to exist in form of money, then it will be a great boon for real, decentralized tokens. These tokens are immune to the whims of legislators around the world. They could be banned but they exist and will continue to exist regardless of who is in power. Just like air, water, internet, exist today…

There is a tremendous value in that property as it protects the individual’s property rights against the bad actors. It’s potent to a degree that most powerful governments can’t subvert it.

Cardano is that latest class of decentralized tokens. It will weave itself into our reality once decentralized, and there is no stopping that.

Plus it is a decentralized platform where value can not only be held and transferred but also be created independently. There are myriad of applications for this and we haven’t seen the tip of the iceberg yet.

So Libra is a great on-ramp for crypto and Cardano will be one of the primary beneficiaries of this development. There are no projects like it out there for those who care to learn about this space beyond the superficial stuff.