#Facebook Launching #Libra #Cryptocurrency In #2020 ?
Everything you need to know about Facebook coin Libra.
Facebook Coin (FBC) will be a stable coin, pegged to a basket of different fiat global currencies.
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FBC launch date: 2020 / Q1
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Will FBC compete against BTC?
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No. FBC won't compete against BTC or crypto.
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FBC will compete against Banks, Credit Cards, Visa, Mastercard etc.
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The reason FBC won't compete against BTC is because FBC does not differentiate from traditional fiat, that banks currently offer.
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The reason FBC won't compete against crypto is because crypto's differentiator is that it represents FREEDOM, open, decentralised, borderless, censorship-resistant money.
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FBC will not have any of these characteristics or benefits.
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Crypto won't benefit the average westerner as much as it will benefit those who are unbanked, and those suffering under currency controlled failing fiat systems, corrupt democracy's, banksters, which is 90% of the planet's population.
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FBC will be just another form of broken centralised currency.
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Decentralised Crypto is the solution to the problem of a corrupt centralised manipulated fiat money system
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Facebook can de-platform users, censor users and their transactions, it will track and document your payments to whom and why, and if they don't like your activity they can just freeze your account, and your funds, just like PayPal does today.
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Your spending will be under constant surveillance, and your activity will be sold or given to third parties, intelligence agencies.
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But the average Joe will buy into FBC, simply because they don't understand the ramifications. FBC will be huge simply because of the numbers, almost 3B active users, and WhatsApp has 1.5B daily users.
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FBC will lead to a FB Credit Card, and a FB Marketplace (Like Amazon/Ebay). They will track your whole life.
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If anything this will help boost awareness and adoption of BTC and alts, not compete against them.
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