Facebook launch cryptocurrency libra

in libra •  3 years ago  (Edited)


Hello Steemit friends, so facebook yesterday announce they are launching their own cryptocurrency called "libra" on the libra blockchain, they will also have a new wallet called calibra

libra blockchain detail and whitepaper see here:

Calibra wallet see here:

So what does this mean and how does it work? Because facebook having more than 2 billion user on facebook and whatsapp, they can integrate the calibra wallet into facebook and whatsapp and allow 2 billion people to send "libra coin" instantly via whatsapp or facebook, when user deposit fiat to them, the libra blockchain will create libra coin for them and when user withdraw fiat from them, libra blockchain will destroy the coin

So can you make money buying libra coin? the answer is no because libra coin is peg to US dollar 1 to 1 so the value of libra coin will always be 1 USD, but what does this mean to the crypto world? because facebook are bringing in 2 billion people to crypto world and when all of those people discover they can buy bitcoin with 1 click of a button, bitcoin price will go up dramatically, it is a natural choice since libra coin cannot go up in value and only bitcoin does

the other thing is that libra coin will basically killing all the bank business so bankster will try their best to stop facebook, just wait and see how it goes

but they will only launch it one year later so there are still plenty of time

thanks for reading

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

You’ve been upvoted by TeamMalaysia community. Do checkout other posts made by other TeamMalaysia authors at http://steemit.com/created/teammalaysia

To support the growth of TeamMalaysia Follow our upvotes by using steemauto.com and follow trail of @myach

Vote TeamMalaysia witness bitrocker2020 using this link vote for witness

Thanks for your 100.40SP to team-cn ! Your post has earned 8% team-cn upvotes!

Hi @fundurian!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 3.921 which ranks you at #3857 across all Steem accounts.
Your rank has dropped 13 places in the last three days (old rank 3844).

In our last Algorithmic Curation Round, consisting of 158 contributions, your post is ranked at #83.

Evaluation of your UA score:
  • You're on the right track, try to gather more followers.
  • The readers like your work!
  • You have already shown user engagement, try to improve it further.

Feel free to join our @steem-ua Discord server