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RE: Libra - Thoughts on the Potential Effects on the Crypto Sphere
nice thoughts, i truly enjoyed reading this, another major 2020 event on the list. i have been pondering quite a lot about possible cash coins, this might become the one, such a backing
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Yup, agreed, that Libra could become the "break-through" crypto stable currency.
PS, Libra isn't pegged to one asset (like propoer USD-backed tokens such as PAXOS), but rather backed by an "asset basket" including USD, EURO, YEN, but (potentially) Bitcoin as well.
^^^ If and when Bitcoin is included in Libra's backing-basket, then the bigger Libra grows, the more the backend fund needs to buy Bitcoin itself... So not only will Libra provide stability like stable coins as we know them, but if and when "traditional fiat" would fall flat, then because of the mixed-bags backing assets of Libra, it will stay pegged to "value" instead of "fiat value" <== truly interesting!
And thx for reading and the kind words! :-)
Kind regards, @scipio