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Libra Coin ~ Black Swan Event for Banks? What about XRP & BTC? Initial Ripple Comment

Libra Coin ~ a Black Swan Event for Banks?

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https://www.youtube.com/watch?v=QWYTI0HnAgY

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8 Comments

  1. I really don't get it. Why would you buy Libra & then swap it into XRP, or any other digital asset for that matter, when you could simply buy your chosen digital asset with fiat?

  2. So we are going to allow 100 huge corporations that will control the nodes to collect our data when using libra…..so FP will control the wallet and collect our data, and we can trust a company that censors our posts and pushes ads to us when we've been researching ithese items online. This totally goes against what BTC was created to do. People who use or purchase libra are the rats following the PIed Piper to their demise!!

  3. Thanks Eri, yes I believe this is perhaps a Black Swan event, it is going to make a lot more people aware of the Crypto ecology and that will be a good thing. Personally, I use FB for small promotional reasons, they can't even get their UI and metrics right. They have issued their white paper and it leaves so many unanswered questions and you have covered some of these. Transparency of how all the partners are going to make a dollar on their investment has to be the biggest missing answer. These partners are NOT – "not for profits", so let's get real here! I think the Banks are going to be a major stumbling block for this project, I also don't see any realistic threat to XRP, further the project completion is way down the track, its centralized, not transparent and the issues about privacy and financial responsibility present cogent hazard signs, it seems they expect the Exchanges and Banks to handle the AML and KYC responsibility, I see this as a partial barrier to entry for Libra. And please remember settlement is far superior to just a payment.
    Further, I anticipate this will expedite the regulators to come in sooner and harder than they have to date. Very Interesting times ahead. It is not a trustless system. The 64 Trillion $ question is, will we trust FB with our finances? 🐿

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