That makes some sense, making the primary target people who are sending money home and overseas. So as long as the goods/service providers accept Libra, without a fee, it has potential. I guess a Libra ATM would be the ideal way to get cash out.

At least pretend to read the article, folks

It seems like the idea is that people with bank accounts can fund their Libra account, then send the Libra to others. I’m still unclear on how the recipients can turn this money back into fiat currency.

“people without bank accounts”

Sounds like a solution in search of a list of buzzwords.

Assuming I have to sign up with a carrier, how am I supposed to buy heroin anonymously with this thing?

The phone itself isn’t doing any mining, so battery life should be untouched.

Cryptomining is processor intensive, how much battery does this waste?  Can it be turned off?

The utility, such as it is, lies in its use in facilitating transactions. Imagine if Paypal, rather than simply using existing currencies, had created its own currency, fully tradeable with all other internationally-traded coins, and then charged no proper fees but instead simply created new money to profit from. The…

$6,000 was always clearly magical thinking. “If we just keep saying it it will come true!”

Why would there be a floor to the price of a financial instrument that has no utility? And requires a massive and expensive infrastructure just to exist?

I’m sorry for repeating a question but is there any use for cryptocurrency that isn’t shady? Just what legitimate use does it have that conventional currencies don’t?

I played something similar in high school in 1999 with the stock market game. I asked my teacher how it’s accurate when our traded stock doesn’t affect the price. He just said play the game.

Do I have to?

I can’t help but laugh hysterically at the “blessing in disguise” post. Holy shit people will believe anything to make themselves feel better.