Thanks for your reply. Sadly I read similar details as well. So doesn't look like an investment opportunity as I was hoping for.
I am not sure how this differs from Paypal, Venmo, or CashApp aside form the blockchain aspect of this coin. What is the incentive for using Libra versus existing payment apps?
We've seen how SBD failed to be pegged to the USD, so it will be sorta interesting to see how Libra pans out.
Right! It seems so convoluted and pointless. It's basically a way of transferring dollars.
I think it could succeed at being stable...... until it falls apart 😆
In a way it almost seems like inflation of the USD, lol. Because it's like there's less USD hodling, and you can still essentially use it. I wonder how the government would feel if it started to get big!!
I hope it succeeds in some form or fashion so that it draw more attention to blockchain technology. If the masses can adopt Libra as a stable coin, perhaps it might not be as big of a step into the crypto word.
What would be interesting is if the Libra has some features like my credit card reward dollars. There is a group of affiliated companies that I can chose from where I can spend my reward dollars at a 1.2x exchange. For example, I can get a $25 Home Depot gift card for 20 reward dollars. Sometimes the exchange rate is higher too, but not for companies that I would use though.
This would incentivize me to use Libra for the savings.