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@zulfandina

libra coin is not cryptocurrency

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In a heated discussion about the launch of the Libra coin, there were many pros and cons among world leaders and also about the prohibition of launching coins made by the founders of Facebook.

however, the founder of Facebook and his fellow managers and staff have decided on one thing, that they will still emerge or issue world trade coins in Libra, but not as crypto currencies. in fact they say that libra coins are not crypto currencies but will be a legitimate medium of exchange and currency.

what do you think about all this? how do you think this coin Libra will be on the market? Will this Libra coin be in the form of paper currency or metal coins that have been used by humans so far in the real world? if yes, which country will use this currency? Does not every country only have one currency?

take a moment to think about this correctly, because we are all part of crytocurrency ...

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I think that the coin should appear on the market. But it will hardly look like paper money or coins. It is likely to be something like electronic money. Although before I thought it was a cryptocurrency. Time will tell what it really is.

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Facebook's Libra could be the dominant currency in the world, considering that in the first quarter of 2019, Facebook had 2.38 billion active monthly users. If a small number of them start using Libra to conduct financial transactions, buy and sell products, and transfer money, the new currency will quickly get wide acceptance.

What's more, Facebook cooperates with large companies such as Uber, eBay, Lyft, Mastercard, and PayPal among the founding members. Therefore, Libra can be the dominant global currency, but it is run by corporations, not central banks.

Not surprisingly, the Libra announcement has encouraged many meetings at the central bank, at the Bank of International Settlements, and in other multilateral organizations. Some commentators have welcomed the proposed new personal money, while others want the government to stop Libra before it is launched.

Critics of this initiative have several concerns, including the computing power needed to manage currencies, the privacy of user data, and the possibility that new money will maintain illegal activities and markets. But more attention needs to be paid to analyzing how Libra can dramatically change global monetary policy making.

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It might not be a cryptocurrency so to say. However, given the intangible nature of it, and the fact that it will work similar to that of a cryptocurrency, I would think it can be called a cryptocurrency :)

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On 18/07/2019 at 01:28, @zulfandina said:

In a heated discussion about the launch of the Libra coin, there were many pros and cons among world leaders and also about the prohibition of launching coins made by the founders of Facebook.

however, the founder of Facebook and his fellow managers and staff have decided on one thing, that they will still emerge or issue world trade coins in Libra, but not as crypto currencies. in fact they say that libra coins are not crypto currencies but will be a legitimate medium of exchange and currency.

what do you think about all this? how do you think this coin Libra will be on the market? Will this Libra coin be in the form of paper currency or metal coins that have been used by humans so far in the real world? if yes, which country will use this currency? Does not every country only have one currency?

take a moment to think about this correctly, because we are all part of crytocurrency ...

If it's not a crypto then it's a digital assets what is it? I don't really get what facebook mean... I will try to dig more deeper into this. Maybe you can provide the source of that information mate... 

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39 minutes ago, Han2x said:

If it's not a crypto then it's a digital assets what is it? I don't really get what facebook mean... I will try to dig more deeper into this. Maybe you can provide the source of that information mate... 

https://www.thejakartapost.com/news/2019/07/12/trump-says-cryptocurrency-is-not-money.html

 

you can try checking it on the site above.

 

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