Today we discuss the recent announcement about the Facebook Libra currency and about how we can expect to see it released in the first quarter of 2021. I discuss what the Libra coin is, how it is similar and different to other cryptocurrencies using blockchain technologies such as Bitcoin, Etherium, Bitcoin Cash, Ripple (xrp), and Monero.
The Libra currency by Facebook is not the same as other cryptocurrencies that are mined and generated through a distributed network of users. The Libra coin is different from Bitcoin and other altcoins in the sense that it is less volatile due to it being backed by Fiat currency, namely the US dollar, euro, and a bucket of currencies. This makes the coin fundamentally different from how other cryptocurrencies operate and will have a significant impact on the financial value of such a coin. Will it impact the cryptocurrency market or the stock market in any significant way? Will it have value beyond Facebook’s own domain? Should you invest in Libra and other cryptocurrencies?
Watch the video to find out!
If you like this content make sure to subscribe to my channel here:
This channel is inspired by many people! If you like Marques Brownlee (MKBHD), Linus Tech Tips, Hardware Canucks, The TechLead, Joma Tech, The Coding Train among many others. It would be a dream to work with these people someday, come support me on my journey!
#libra #bitcoin #cryptocurrency #facebook
[keywords]