Facebook's Libra - A New Global Currency

Libra - A ton of information on their website. A very interesting set of Founding Members.

FT Alphaville is doing a series on Libra coin, starting with Facebook’s Libra: blockchain, but without the blocks or chain, the introduction is funny “This is just one of a series of Alphaville posts on Libra coin, which we are calling Breaking the Zuck Buck, in which we will seek to show how nonsensical, pointless, stupid, risky, badly thought-out and blockchainless the whole thing is.”

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They’ll shake up the global remittance market big time, currently $600B.

Alphaville are fans then -

Here’s the BBC’s coverage -

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I wonder what the Winklevii think. Ben Mezrich ( Accidental Billionaires ) author wrote a new book on them. It’s a bit hyperbolic but still a good account of how they ended up with 1% of Bitcoin.

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didn’t take long

https://www.bloomberg.com/news/articles/2019-06-18/france-calls-for-central-bank-review-of-facebook-cryptocurrency

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Not had much of an impact of Facebooks share price

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It will do when it’s launched. If I had the money I’d be purchasing some shares now, then wait for the payday :grinning:

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Facebook’s Libra being grilled by 26 banks ->

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That’ll explain these tweets by the head of Libra then:

Big withdrawals are never good :see_no_evil:

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I think this is the equivalent of a large queue outside of Northern Rock.

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I’m still not clear what Libra offers over and above crypto or fiat. It’s almost the worst of both worlds. No privacy, regulated but not legally backed, value will still move based on the basket currencies, and “better payments” how?

I can actually see some governments being interested if they can prevent it being spent with on/with unauthorised things/entities.

25 June—he called it:

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Source - https://medium.com/s/no-mercy-no-malice/profg-coin-scorpio-7d386a96dc65

@Anders this may explain the purpose of a stable coin for sending money around—17 September:

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Massive 7% fees on the lower class sending money around:

“Someone else should do it?” Apple, Amazon, a European bank…

Also this: