Thank you for your comment @rufusfirefly. I appreciate it a lot.

> By providing a stable and secure means of transferring funds, it will put bitcoin and the like out of business by removing their reason for existence.

I'm not sure about that, as people use bitcoin because of its decentralized nature. Libra will be completely centralized and dependent from the central banks, so it will loose many advantages. I personally think that current users of bitcoin will not give it up so easily.