As you may know, Facebook announced its own coin Libra:
Main differences between ETN vs Libra in technical terms:
1.
Libra is permissioned: meaning miners are selected and limited by Libra Association.
ETN is permissionless: meaning anyone with ASICs are free to enter as a node.
Libra is POS
ETN is POW
Libra has no limited supply and its price will be stabilized by Libra Association by burning or creating new tokens. Though, it is not a pure stablecoin like Tether which is pegged to USD. Libra is going to be pegged to a busket of currencies and other major assets.
ETN is limited to 21 bln supply.
However, if you read the whitepaper of Libra, Libra also
targets 1.7 bln unbanked people
targets mobile operators (Vodafone is already in the list of Libra Founding Members), MVNO and data top ups
concentrate on mobile wallet and payments
ETN’s main focus and energy so far was on above 3 targets.
Facebook has a big user base of more than 2 bln people, big brand, big advertising and networking advantage.
I am not anti- or pro-Libra but I am certainly ETN fun and holder.
So, based on facts above, what do you guys think on Libra’s effect on ETN’s future? Positive or Negative?
You still forgot about what LINBA stands for and how to get ti. You first still need money to get it, its not like they will be giving it away to use. ETN can be mined using a smart phone in return will be more likely to be used because people will already have the currency.
Sad to say but i think this will be a big problem. They both target unbanked. The power off them will just be to big.
Only option would be to to achieve mass adaption before them…
The mobile miner is still a very powerful tool to the people in the unbanked regions. This tool is helping the people that could use help and with those big backers with Facebook I do not see them doing a airdrop to attract people
They are late to the space and many people have criticized them saying its not really a cryptocurrency so it remains to be seen if they can achieve what they want to. It’s easy to get scared because Facebook is so big but big companies have got into new spaces and failed miserably many times, look at Microsofts attempt to make there own mobile operating system where is it now… how about Google’s attempt to get into social media (Google+) lol
ETN’s most obvious advantage is we are far ahead unless Facebook have lots of partners and deals that we don’t know about. I think there are also growing concerns against these major platforms interms of privacy, freedom of speech and so on so who knows theres alot of variables. Also don’t forget its entirely possible for ETN to team up with someone in the future and they have said about letting other coins use there eco system so competition is not always a bad thing. To be it seems like in the future there may be many coins not sure a few…
No matter what, not everyone uses Facebook. Heck, I used to use it but no longer do because of the reckless handling of our data. Don’t be so quick to determine people will use Libra just because it is Facebook’s project. My personal opinion is I will NOT use Libra BECAUSE it is Facebook’s project.
No way am I allowing Facebook to know and sell my personal data AND see what I do with my money.
Yep even CNBC on there video about Libra said its not really a Cryptocurrency and they don’t have the best reputation at the moment. With other coins already able to transfer anywhere in the world and possibly make a return it just feels like a random stab in the dark from Facebook to see if it works its really just a money transfer system thats backed by money dosen’t really seem very exciting at all…
To me I think the main benefit for them is to see where money is flowing… thats it
Is Libra going to airdrop in developing nations? Will users see the potential for gains? Can I mine it? Not even worried, if anything, I see it as a gateway crypto. Millions of people will try it out, because it feels safe for them (cringe) and then they will start looking at projects they can actually make some money investing in. I have been jokingly calling it CIA coin. I am actually kind of excited for it from an angle of mass adoption. There is plenty of room in the remittance market, and in the gig market for more players. Not concerned. Anyways, off to work, have a great day folks.
if it’s a stable like coin there should be some incentive to use it compared to fiats otherwise it’s just sliced spider liver (i.e. nothing in plain terms:)
I would like to see Libra dead, before releasing. Remember, before Facebook, we had myspace, orkut and other social medias. Zuckerberg killed all of them.
How did google’s social media project work out? I feel this will be roughly similar. But I welcome the try, it at least will help raise awareness and spark people’s interest in crypto.
