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Comment by xwdv | Hacker News Reader

IMO this is it, the last best chance for a cryptocurrency to take off and actually be used as a currency and not a speculative vehicle. If Libra fails, even with all of Facebook’s resources at its disposal, then there is unlikely to be any viable cryptocurrency for at least another generation.

Disclaimer: I hold a lot of stock in FB and no positions in other crypto.

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As mentioned in the top comment, FB currency is not a cryptocurrency in the sense "decentralized trustless public cryptography based ledger", so its adoption or lack thereof has little to no consequences on Bitcoin and Ethereum.

and what on earth would be the advantage of paying in Facebook Marks instead of US Dollars?

the advantage is you get to be part of the token pyramid before the next guy.

It's a stablecoin...

That's exactly the issue. How is this any advantageous compared to say putting fiat USD on my Apple account and then spending that on iTunes/Appstore/In-App etc?

thanks for pointing that out.

now i too am unsure what the advantage is.

Speculative vehicle? We're paying devs salaries in Bitcoin, what are you talking about?

and many people are compensated in highly volatile stocks that are subject to speculation, you paying someone in bitcoin doesn't change anything about its speculative nature, it just means your employees are willing to receive compensation in a volatile currency.

And they probably liquidate a good portion of it as soon as it hits their wallets.

I’m curious. Is their salary paid as X BTC per month, regardless of the movement of BTC? Or are they paid the BTC equivalent of Y USD (or similar currency) per month?

Btc equivalent of USD.

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