Today, in China, everyone is discussing the Facebook (FB) Libra coin, Chinese Monero community is no exception.
Here are some interesting ideas,
Libra coin is a good news to the market, more people would come in the market, it will create a bull market.
FB can steal wealth from all the users by over issuing a lot of Libra coins.
FB is trustless, as they have leaked 87m users' personal information before, they stored users' password as plain text in an internal database that could be accessed by its staff.
FB knows you and all your relationships, in the future, they even know your financial condition, you have no secret from FB and also all the countries' governments.
Base on 3 and 4, people may use Libra coin as beginning, but they would choose Monero finally : )
Although,FB said Libra will be backed by a collection of low-volatility assets, such as bank deposits and short-term government securities in currencies from stable and reputable central banks, but finally it would become base on USD, then it is same as U.S government can steal wealth from all countries in the world like now.
FB is far far ahead of the game: World Currency and the International Payment system.
This game would be finish soon, many countries would ban Libra coin and even facebook, especially many small countries.
What's your opinions about Libra coin, is that good for Monero eventually?