ETH vs LIBRA

How will the release of Libra impact the price of Ethereum?
Let's face it, this shit will have a humongous user base, and it has smartcontracts. Sure it's centralized censored crap but the average normie won't care. So, discuss.

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Lol libra is dead, cuckzuck did not got it through

Proff or it didn't happen

It's going through user. They got it passed under a different name or some bullshite though some loophole

it's releasing Jan 2021 retard

don't forget it's a stable coin. the initial idea of backing it with a basket of fiat was interesting, but now it's 100% backed by USD, it's a literal shitcoin
imo it will only help normies get deeper into crypto, which is bullish on the long term

>the initial idea of backing it with a basket of fiat was interesting, but now it's 100% backed by USD
probably why it didnt get a pass the first time and got a green light now

>don't forget it's a stable coin
But it still has smartcontracts, which are the greatest feature of ethereum, so there's still competition and the risk of losing marketcap

Bitcoin will literally die out within days of Libra lauch. Facebook has multiples of Bitcoin's network effect right out the box.
Thoughts? Discuss. Give opinions!

Facebook's biggest demographic is probably boomers now and they will hate it.

It won't be a 1 day revolution, Libra will take time to get adoption and most importantly to be further developed. Imo we have enough time for another golden bullrun, then we'll see

Holy shit I havent thought about it like that even. Bitcoin lives off of its network effect and name recognition. Facebook coin would beat both of these in day 1. I hate to admit that.

Also did fiat replace gold? No

Wrong. They hired Chainspace team which is top 3 teams in crypto and so far from the papers i've seen they're not cutting corners on the tech side.

This might be the closest we got to the "final" crypto list:
>BTC
>ETH
>The Graph
>Libra
>Dfinity
>Chainlink
>Bitcoin Cash
>Aave (?)
>Monero (?)
>Synthetix (?)

And another 2 i can't reveal rightnow, sorry.

This thread is freaking me out. Libra becoming the highest marketcap coin in 2021 would be a nightmare, but more than just a real possibility.

It's literally a stablecoin. When was the last time tether threated bitcoin or eth?

biz could just decide to make a bunch of memes and permanently set the reputation for this thing

basically tether, usdc, libra, etc are all fighting to be the protocol for actual fuderal reserve

I'll forever hate zuckerberg for ruining my Chainspace moon mission. I had my whole future gains planned in my mind.

Thanks for the input, anons. Seems like Bitcoin wont even put up much of a fight against a Facebook coin. Insane how things could change so quickly next year.

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Vax coin will ruin it.

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why do you post before even reading what Libra is?
yes that is exactly why. US senate saw it as a threat to US 'soft' power through the dollar (this whole thing about dollar transactions being subjected to US law / sanctions). pretty interesting to see how much they actually don't care about the free market kek
that's true indeed and that's the most worrying part. especially when you see that they bring Uber, Lyft and others with them, so we can cross these out from eth adoption. seems like corporate will more easily "trust" a corporate-created coin
but everything on the libra chain will be subjected to censorship and control, so it can really only bring corporate's interest. it can also mean most micro transactions for mobile games will include libra fiat stable coins, taking away part of eth applications

BTC and libra are completely different assets
BTC is speculative by nature (rarity) while libra is corporate-created digital USD, they don't play on the same field
can't believe I'm writing that on Zig Forums, are you guys even interested in finance?

Remove The graph, dfinity, chainlink, bch, Aave, snx for that list

you are just responding to an xrp schizo who was only trying to fud bitcorn regardless of how stupid he sounds

Doesn't matter, didn't read.
UBT and LINK are Blockchain agnostic, you just win.

I can understand the rest but why remove Chainlink and TheGraph? They seems to me as permanent choices as BTC and ETH are.

yes it did, gold is no longer a currency.

And who the fuck cares, what's your point

what's the bull case for crpyto currency, why would it explode? increased usage. if you lose that to Libra you are in trouble.

"store of value" is a complete meme.

there were countless reddit shitcoin maximalists espousing the same exact fucking narrative you are years ago and they got btfo by history... You are a fucking retard.

its a fucking stable coin

ok, let's say I'm wrong BTC will be valid as a store value meaning it will serve the same function as gold.
Is that what you want? Gold is beating inflation by like 1%, do you want to park your assets in something that beats inflation by 1%?

BTC is currently not a store of value, it's price action is pricing in something else. I don't know what but it's function is clearly not a store of value right now.

>"store of value" is a complete meme
You can be mathematically proven wrong but whatever

Snx is a ponzi if you look into it well enough, and aave is a useless governance token
governance does not work, the only way a defi protocol stays competitive is with private teams, or if the product is actually perfect as is. governance by token holders adds nothing

also Rune will be in there I think
maybe Avax
and 1 other I won't mention

this
The new name is RosenshekelschlomosteinberghaifaotzwichbenshalomevelyndegoldfarbCoin

this, if it had been tied to different currencies it could've been something, but as a simple usd peg it's shit
they had to revise it so it doesn't threaten the usd debt printer scheme, it's pointless now

All other coins are no match for nacho Libra

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