/biz/ - Business & Finance

is normie money really going to come with libra coin though? maybe some, but how much really? who even used fb anymore? idk

>>14177686
>who even used fb anymore?

only people, i know use that shit is pajeets, boomers and the normiest of normies.

>>14177699
and how many of them do you think would buy a fb coin?

>>14177622
I might be missing the point entirely but why would this make a difference considering fiat is the ultimate normie money which can already be used to buy btc?

>>14177716
Even if 5% of them buy it, it succeeds.

>>14177622

*ahem*

>>14177750
that's one in 20. never going to happen. how many people click on Facebook adds? how many conversions? 5% is huge. .5% is also huge. check your expectations anon.

>>14177769

>>14177720

Most people still fall in to:

1. Don't know what crypto is
2. Don't want to buy it and think it's an incredibly obscure thing for criminals
3. Would buy it if it was in front of them, but don't really know how and are not interested to learn

You are right that people can go to Coinbase already and buy with Fiat, but the catch here is that Coinbase is being brought to THEM.

When this is rolled out, the barrier to entry for Billions of people is probably going to be dropped to 0

>>14177686 when we talk about fb we also talk about whatsapp, and instagram, I heard somewhere that instagram was going to integrate a market within the app, also don’t forget that whatsapp is used by almost every third world country, and what does that mean? People who send money to those parts of the world will take advantage of the opportunity, its a win win for zuck

As a general question to everyone:

Do people think they will eventually try and pull the rug out under BTC and make this FB coin the global crypto?

Something along the lines of:

"Yes, we know you want crypto, so as a compromise we'll ban Bitcoin, and let you use the FB coin, fair?"

And most people would not know what the actual difference is?

>>14177779
>how many people click on Facebook adds?

iirc facebook ads have around a 5% conversion rate

Here's my prediction.

Normies will buy Libra thinking it's the next Bitcoin. BTC will then dump as Libra gets more traction. The normies will slowly realize that it's just another centralised shitcoin (when FB starts seizing coins). Once the hype around Libra is over BTC will moon.

>>14177622
Normie money literally does not matter retard

>>14178128
This is what I'm really hoping for. I was/am really late to the game and feel that it's too late to buy Bitcoin. I'm hoping it'll temporarily dump so I can get hold of at least one entire coin. If not, the money will probably go to stocks

>>14177622
Yes. Here is exactly how it will play out.
>Libra Coin launches, seems like a non-event, normies dont really care.
>Over the course of 1-3 years, Zucc slowly uses partnerships to force users into the Libra ecosystem
>Libra becomes ubiquitous. Users use it without realizing it's crypto, they just think it's like xbox tokens.
>Meanwhile bitcoin is quietly and slowly going parabolic like in start of 2016-2017.
>Coinbase announces "You can now use Libra to trade bitcoin! Deposit in seconds!"
>Bitcoin sees massive rally on this news. Tech blogs pick up the story "You can now buy Bitcoin with Facebook Libra bucks"
>Rally continues. This time gaining intense speed.
>"Everyone is getting rich on bitcoin" stories come out. CNBC shilling like crazy. Jim Cramer going apeshit, telling everyone to buy bitcoin
>By this time, the crypto youtube community will be out in full force. Anyone using YouTube will have at least 1 crypto video in their recommended section. Boomers, Zoomers, normies, and third-worlders start going down the bitcoin rabbit hole. Instagram booty models also start mentioning bitcoin
>"Wow I should buy bitcoin. Hmm... cant use my credit card. Oh, I'll use my Libras!"
>Not only that, Zoomers buy in with Robinhood and the Cash App. Boomers buy in on fidelity with their 401k
>Bitcoin sees the most parabolic run it's ever seen. Oldfags start selling, thinking they're clever and it's the top like end of 2017 because their uber driver is talking about it
>It just keeps going. In the past Bitcoin rallys have been bottlenecked by bad exchange infrastructure, 1-2 week KYC verification, slow wire transfers, FUD, etc.
>Literally never crashes. Settles at $250,000 for a while but just slowly builds up like boomer market S&P/Nasdaq. This will be called the post-crash era
>Bitcoin eventually 1 million dollars per coin

>>14178128
> The normies will slowly realize that it's just another centralised shitcoin
Now look at top-10 CMC and tell me if normies really care for muh decentralization. Half of top-10 can hardly be called blockchain.
> Normies will buy Libra thinking it's the next Bitcoin
Nop. Only big guyz will be able to invest in it. Normies will be only using it for transfers, app payments and ad placement, or whatever.
They might not even know that there is crypto something something involved.

>>14178128
> BTC will then dump as Libra gets more traction
kek, even if you assume normies can buy it and are interested in it, and it is available on exchanges, they will still most likely need BTC to buy it.

>>14178230
Correct.
Based and Zuckpilled

>>14177769
mother of god

>>14177779
Normans love facebook just like anons hate it. People actually trust facebook--it seems absurd, but it's true. Millions of normans who would have never understood nor given a shit about crypto will buy in.
I'm not saying it will succeed, we don't even have the whitepaper yet--but I think many people will buy in.

>>14178128
I don’t think 1st world consumers will even notice they are buying Libra. The Facebook marketplace will likely have an option to automatically convert Fiat to libra and back to Fiat for transactions.
Most 1st world normies may keep a few hundred dollars in Libra like their Venmo accounts, but won’t be actively buying Libra as a stable Coin hedge against inflation.

FB doesn’t care about making money on the Libra coin. They want the data that will be available by processing all these transactions on the block chain. Think of the advertising opportunities of being able to target users the second they just received some disposable income deposited into their account. “Hey Facebook user who just received $100 in Libra from their friends via messenger for splitting the bill for lunch. How would you like to get 20% off a Jersey for you favorite team instead of converting the Libra back to USD and sending back to your bank?”

>>14177622
nobody wants a fucking stablecoin lol
people will buy libra because its a crypto by facebook and will get them retailer discounts. then they'll notice, "oh wait, this crypto stuff isn't that hard after all, maybe ill invest", then they'll buy bitcoin.

facebook is guaranteed at least two more MAJOR scandals in the near future too which will push people away from libra to bitcoin/alts

>>14179023
100% this
Its about data and control, not gains on their shitcoin

>>14178230
WTF...You just fucking opened my eyes dude.
One of the major reasons (imo) that the crypto run of 2018 was cut short was that banks stopped giving loans for people to buy crypto.
If people saw btc at 20k you can be fucking sure they wanted in but since a lot of people have no savings,bank loans were the way to go.Until banks put a roadblock on that.
If they bypass that by going loan>zuckcoin>btc we may have a more sustained bullrun on our hands next time.

>>14178128
da faq you talking about? Libra is a stable coin, pegged to a basket of real world currencies. Do you go out and buy tether, hoping it's the next bitcoin?

Its Reserve RSR dickheads

>>14179023
I expect to see Libra shilled to the normie business fb pages. “Boost this post for only $5, or 2.99 if paid in Libra.” Bullshit like that to jumpstart it.