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My understanding is that the currency would be pegged against a basket of bonds, they would keep the interest from those bonds. I don't believe transaction fees
by benj111 7y ago
My understanding is that the currency would be pegged against a basket of bonds, they would keep the interest from those bonds. I don't believe transaction fees are currently part of the plan, but of course that could change. The registration fees are basically for the ICO, (well the right to run the transaction processing) so it doesn't go to Facebook but into Libra.
How much control Facebook has? In the future they 'would like' to make it fully independent, that isn't how it will be launching though.
- carlosdp 7y agoOn the last point, true, but even before that, they only have 1 vote of 28 (100 by next year) companies.
- benj111 7y agoPerhaps? I suspect they would have outsized influence being the senior partner. There isn't really enough detail at this point to say much more than that.
- lightgreen 7y agoRegistration fee is not ICO at all. Participants of the network do not get any coins upon registrations, but they can emit any number of coins any time for selling them to users at fixing price and investing fiat money into bonds.