Discussion in 'Bullion Investing' started by Tyler, Apr 1, 2013.
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affect the market. That's why I am asking people more knowledgeable about this different economic dynamic than myself. We didn't have this crypto currency when we were discussing widgets in the 1980s.
I think that Libra stands a far better chance of being embraced by the broader market than does BitCoin. BitCoin has been little more than a very creative confidence operation while Libra is being bankrolled by some of the most important players in the commercial exchange market. Their deep involvement in this new digital currency brings a level of credibility that BitCoin advocates can only fantasize about.
Yes, BitCoin's days are indeed numbered. It'll take a while for its devotees to give up on it, but give up they will. It will die a very long, very slow death . . .
Happy to be of service.
Now, would you like to explain to everyone why you're holding on to a number of coins made of silver, that vile, trashy metal of fools, more than two years after you received a cashier's check from another forum member who agreed to buy it?
If not, people might not attach the weight you'd prefer to your opinions on what is or is not a good investment. Or a scam. Just sayin'...
Oh, I don't know . . . it's the misplaced confidence I find amazing.
Even if the price is being manipulated, someone has to be buying it to do that.
And that takes a lot of money.
Would you consider that it's all relative in degrees of misplaced confidence to our Fiat currency? We might weigh the relativity in the future when there may be a Chinese (or others) cryptocurrency, avoiding the U.S. sanctions and banking "system".
Oh, don't get me wrong, I'm not implying that confidence in the USD or any other fiat currency is not misplaced either . . . maybe just a little less so.
As for relative levels of trust, I would much sooner trust the Libra when it emerges than I would the BitCoin, as the backers of the former have much more at stake . . . not in dollars, but in credibility. As for trusting the USD, I trust it more than the yuan and less than the Swiss Franc.
Why would he rip somebody off for a $100.00?
This is the guy beating the drum for gold investing.
Make no sense to me.
That $100 is his only profit.
I believe it's significantly different from the current crop of cryptocurrencies -
From the Economist:
". . . The Libra’s value will be pegged to a basket of major currencies, it will be able to handle large transaction volumes and 28 other big firms say they will join a consortium backing the currency. If Facebook’s 2.4bn users adopt Libra to shop and transfer money, it could become one of the world’s biggest financial entities. That would herald a consumer revolution—but could also make the financial system less stable and reduce governments’ economic sovereignty. . . "
Many countries and companies have been wanting to get away from the US dollar as the international currency of record. The Libra might be just what they've looking for.
The Libra isn't a cryptocurrency. It's pegged to a basket of
major currencies. Cryptocurrency is backed only by the ether.
described as a digital currency.
It's not currency as it has no country/ government behind it.
Just because they have money, doesn't mean they can launch their
I initially took it to mean that it would be some type of Pay Pal/ e wallet.
So FB users could use it to buy things.
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