And if we're doing this for the unbanked or because Zuckerberg sees the perils of centrally managed currency networks.. well, Bitcoin already exists.
You give Mark too much credit.
The way I see it, Mark and his goons simply want in on cryptocurrency on a massive scale. The best way is to create your own coin from scratch, own a ton and watch the market raise the value for you. It's cheaper (?) than stockpiling on btc (that would trigger a pump so they'll get less with each purchase and they still can't hold enough to. Control it)
In other news, btc just hit 11k
Maybe Libra has its u
Friggin Mark.
Ya, this is often what people are up to when they create a new crypto. I figured this too when I first heard about Libra.
Seems Libra is actually supposed to be designed to be stable and pegged to the dollar.
So... turns out this maybe isn't really the goal.
But it also isn't really a cryptocurrency lol. It's basically like a promise of all the companies involved to accept it for a fixed dollar amount.
So I guess his motivations probably have more to do with just drawing business and more eco system into Facebook.
And maybe some delusions of grandeur that it will get huge and he will be the central bank.
yaaaaaaa! crush