Bitcoin Forum

Hello guys,

could you please help me to better understand Facebook coming coin project?
I am interested in these topics.

1. Libra and Globalcoin is just the different name for the same Facebook coin?
2. Now on 18th of June Facebook want to reveal the Libra (Globalcoin) project, but the coins will not be in sale? The lunch/sale is planned for the beginning of 2020?
3. Do you know how it will be possible to buy Facebook coins? Will this coin be listed on marketplaces like Bitstamp, Kraken ... or will it be possible just via Facebook apps?
4. Will the price be somehow regulated by Facebook or will it be fully open as other cryptocurrencies?

thanks

Stilicho

Ok  1, globalcoin it a real name for coin
       2, facebook dont sell coin so you cant buy it , and GBC coming up
     

As far as I know, Facebook coin or whatever name is will not be releasing it this year. You can't really move that quick and have the coin ready after just announcing it in the last couple of months maybe at the background they are working with CFTC or even SEC to iron out everything. Most likely this coin will be available in 2020 timeframe. So I don't think that anyone here in the community can answer your questions unless they have some inside information about this coins though. So, you need to wait a bit longer and I'm sure they will announce it publicly if they are going to offer it to crypto enthusiast or if it will be for their internal used only.

Its too early to conclude about it. We can just wait right now, because we want to know more about their project and the functionalities on the coin itself. We must also observe properly their whitepaper and many more, etc.

based on the things that i have read about this new coin, it will have an stable price which means there is not going to be any kind of trading or profit in investing in it. the reason why Facebook is creating it is to make money from two things, the transaction fees they will charge as a payment processor like PayPal charges and also from the extra data that they will start gathering and sell to the government agencies.

Yes, Facebook is really going to launch its own cryptocurrency. In principle, its name is not so important. For speculators, the main thing to know is that this coin is announced as a stable coin. That is, to earn on the fluctuations of the rate of this digital asset will not work.

I don't think that facebook will start selling their coins in the ooen market. Because every country has their own regulations in place which may not work well if they try to sell the same coin in different markets. However, since facebook has not yet made anything official, we can only speculate!

I would rather request you to read the below article to get some more insights of this project,

https://gizmodo.com/everything-you-need-to-know-about-facebooks-upcoming-cr-1835333424

Frankly speaking, we all know as little as you know!

AFAIK, Libra is the name of the project. Facebook has summoned some blockchain developers and working on it for quite a time now. Google and Amazon are doing similar things.
As for the name, I think it's not still finalised as they leak a new name everyday. They are publishing the whitepaper on 18th of June so you don't need to wait long for it.

We don't really have more information about Globalcoin. Just that it should be a stable coin.
Why do you want to buy a stable coin? You can already buy USDT, USDC or DAI.

Let's wait for further news on June 18, maybe the whitepaper will be launched and at least you can see information about this Globalcoin project. For now I think only the news is unclear. Please be patient, because I'm sure many people have been waiting for further news. Including me. ;D

Not sure this is the coin from facebook but if this is means then it is their wish to sell their coin as they want.I guess they will sell the coin from their own platform rather than choosing an exchange to sell it.

If the price regulated means it is regulated so it is not really a crypto currency.

I am also interested in Facebook coins but that is only limited to discourse and I think this will add to the confidence in the crypto world, maybe it is still long enough to be traded.

From what I understand, the project is called project Libra and the coin that they are about to create is Globalcoin which is made by Facebook. It's usual to say that it is facebook coin.
There's no exact date and announcement when they will launch or conduct the sale or if there will be.
It is stable coin AFAIK so price won't fluctuate.

I think they won't sell their token to anyone. because they do not need capital, they have a huge professional and capital team. In addition, to participate in the crypto market, they must work with the SEC to be listed on CMC. everything seems difficult but i believe they will. Globalcoin is the official name of the Facebook coin.

Choose bitcoin if you are a trader, FB coin is stable coin which mean you will get a small profit from it because the price movement is slow rather than bitcoin unless you will use it as trading pair. I got weird when many people have a same thing to wait this coin will be listed on an exchange or even there is someone who say that many investors out there who has interested to this coin. Because it's stable coin and not deserve to be choose as investment place.

It will be a stable coin backed by usd so personally im not attracted to such a coin but im excited about the fact that it will definitely help bring not only adoption but new investors to crypto market that can result in crypto market going completely parabolic next year.

As far as I know, the company has postponed the launch of its own token since I assume that first of all they will regulate the issue with the SEC only after that they will release their token because everything should be legal.

You are asking people here who are not part of the project, it is not yet released on what kind of coin they are going to launch there is no whitepaper being release, all of the questions cannot be answered accurately, we need to be patient and wait for the whitepaper to come out before you can ask questions, all of these will only fall into speculations.

That is good to hear that facebook coin was a stable coin. But still confused what are the functions on that coin and what is a good side on the coin in terms for longer term of holding.

Hello! I am confused with Facebook as I read they are not selling right now. Really, a lot of things you questioned about are remain to bee seen.

Right now, facebook coin was just launched their website, you can visit it and try to read their whitepaper to fully understand every detail. And for their tokensale, it is still TBA.

hi, guys!
i was really surprised with the news that facebook's gonna provide all people kinda general-purpose stable coin.
in my ind its really cool idea that will completely change world of cryptocurrency.
also recently i've read read related article. u can check it. https://finance.yahoo.com/news/facebook-inc-fb-wants-more-220415665.html

I think they will not hold token sales, even if they are definitely not available to the public (just like telegram is only private sales)

hey , everyone. recently i have found an interesting thread regarding this discussion. You can check it following the  link. (https://bitcointalk.org/index.php?topic=5155721.msg51512527#msg51512527)

1. We thought that the name would be: Globalcoin, but Facebook named it as Libra (Libra project)
2. I think it will be postponed, they have many problems with US regulators.
3. You will buy coin in Calibri app after passing KYC, I do not think it will be listed on classic crypto exchanges.
4. Yes, it will be pegged to USD, Euro and other stable assets.  :)

thats also what im thinking  . i believe that fb's coin is the solution to help the crypto awareness grow bigger  because with the help of the popularity of fb , regular indivduals will become curious about thier coin in which they'l sool find them selves exploring for more related stuffs  . 

@Oliver1301  , that should be the coins primary usage , for paying ads and other service inside facebook but i think it can also work as a tradable asset or a currency as well outside the fb platform  .

Its name does not matter. I guess Facebook worries about this stable coin future as the American government started speaking about the possibility to freeze the project. Suppose, it will be not done, and Libra (I bet, this name will be the final one), will be released in 2020. It will cost under a dollar, I think, but at the same time, it will not be a penny token.

I am also waiting for Libra, and want to buy it on the exchange. I will patiently wait until the beginning of the year next year 2020, when Libra is listed on the exchange. I hope Libra is available at Binance and KuCoin. Let's wait for the busy coin to be discussed lately.

Libra is not Facebook, It is one of the members of the Libra Association. Maybe some misinterpret this but facebook is supporting this project it is still a big crypto event.

Seems clear w/ all coins scams none of them

So a private company (fb) can see all transactions of other private company's! A company partaking in this system is worth exactly nothing.
To open (fb) bank account you need ID like regular bank who is verifying Mark Zuckerberg's ID on top of the pyramid, his friends... no-one he is god and does not need verifying?
In some countries every bank has its own money like https://en.wikipedia.org/wiki/Banknotes_of_Northern_Ireland (https://en.wikipedia.org/wiki/Banknotes_of_Northern_Ireland) and pegged to pound.
Equal (most of the time, sometimes higher fee to exchange) to 5 UK pounds.
https://upload.wikimedia.org/wikipedia/en/d/d0/George_Best_commemorative_issue_%C2%A35_note_-_Ulster_Bank.jpg

I think we have to wait until 2020 to be able to answer these questions. because until now there has been no announcement on the exchange where we can buy libra ?. what we know for sure from this libra is a centralized coin which will later be governed by the libra association. Libra Association consists of several large companies such as Mastercard, Visa, Paypal and others. but I heard that the three companies had decided to leave the association.

Can someone explain to me why the US authorities hated Libra so much. What is the reason for the attacks on this coin by the authorities? Do they see the Libra as a competition to their dollar? After all, the dollar has been used around the world for many decades.

Maybe this article (https://www.brown.senate.gov/newsroom/press/release/brown-schatz-warn-payments-providers-of-risks-with-libra-association) can give you an answer about why US authority rejected Libra. In that article also has a reason why major company who supports Libra before, start to quit from this project.

Thanks masulum, this is a useful article. However, if Facebook fails to provide answers to questions asked by the congress, I envisage that it might forfeit being launched, come 2020. The bridge in their security system, mist especially to the privacy of users is bottleneck to their acceptance.

Libra is similar to Paypal, it's a stable digital medium of exchange (stablecoin), with KYC & AML compliance, customer support, etc, except its a Blockchain run platfrom.
Right now, Libra is going through the motions of extreme regulatory scrutiny, regaurdless, it's still seems like a neccsessary step foward.
    I personally think that the Libra coin and project are whats needed to bring in a mass global level adoption of crypto-currency. I think the only way for Crypto-currency to truly succeed is to make a compromise with the big institutions, financial sectors, governmental bodies, and the common layperson who may be either a Luddite, impoverished, in a remote location, or just simply ignorant of the concept of Block-chain and Bitcoin.
   Facebook has an undeniable reach around the planet, their influence is up to 1 billion active users. I believe that in order to circumvent the adoption problem among ordinary people like grandma/grandpa, children, etc, you have to reach them through a medium that has a social impact upon them.  Although centralized, Libra seems like a good platform that has plenty of tools that could be utilized to educate people and spark interest and curiosity about other forms of Blockchain technology and crypto-currencies.

Is art imitating life, or life imitating art?

https://www.youtube.com/watch?v=gHOAKWzDH-Q

the libra project (facebook) is still a lot of controversy, especially regarding legal regulation. some time ago, some Libra partners dropped out of the project. you should think again about the investment. I do not force you not to buy. but I think, Libra will have a big change. due to the influence of regulations and partners who drop out. So before that, you can read the news about the Libra project.
https://www.usatoday.com/story/tech/2019/10/13/visa-mastercard-ebay-and-others-drop-out-facebooks-libra-project/3968804002/
this is a major partner drop out.

With more and more partners coming out of the Libra project, of course it will be very difficult for Facebook to develop their projects going forward, I think without strong support from various parties, it will certainly make Facebook think again to continue launching the Libra Coin in accordance with what had been planned from the beginning, or even could have fatal consequences that could have been canceled Libra coin project.

Facebook makes its own cryptocurrency which is named as a Libra coin. This libra is a stable coin because later libra coins will be managed and controlled by the Libra Association. and to save these libra coins Facebook has created a digital wallet called calibra. according to the plan facebook will release this libra in 2020. but lately there have been a lot of bad news about libra ranging from the rejection of several countries in Europe and the American president and out of several large companies that support it. but I am positive thinking Facebook will not give up they will continue the Libra project.

How much cryptotalk.org pays for generic post like this?