Bitcoin Forum

This news is getting me thinking if facebook will really survive the regulatory heat.

Now officially saying it may not launch.

https://www.cryptoinformers.info/news/226-libra-stablecoin-may-not-launch-facebook-warns-investors

Just wondering, Did Facebook Just Gave-Up On Libra Project?

Facebook gives a warning to the investors and according to the article and the percentage of libra will be launched or not is 50:50.
Facebook didn't yet to decide if the team will give up but i think facebook gives the possibility it may become failed.

I doubt it to be honest, Zuckerberg tends to be very stubborn and persistent, he will probably figure it out one way or another. But give Congress credit, for once they are doing something worthwhile and in interest of the people.

But why will Libra launch be decided by the US? Everyother cryptocurrency projects launches on their own without any government deciding on the launch. The Libra project can pass the regulatory, I agrre but I want to understand why it depends on the US decision.

Here is a coin for the people!
Obeyed the US government and now do not know whether to launch the project or not.
Interestingly, they return the invested funds to investors or as always, everything was spent on development?

yes, US governments will be the main issue from libra, but i still believe Libra will be launch
but, everyone should wait for a little bit longer from the schedule mate,

That's not a given yet, but this whole thing is kind of interesting.  I hadn't read much about Libra except for what I've heard on the forum and didn't realize that it's supposed to be a stablecoin.  Not surprising that the government would have a problem with a big corporation creating its own form of money, though I'm not sure how that's different from Joe Blow creating his own altcoin as a fork from some other coin, which we all know happens all the time.

Should be intriguing to see what happens with this, as I'm pretty sure it'll be a big part of crypto history once all is said and done.  Part of me thinks FB might just abandon their idea if it's costing them too much money to proceed with it, because it sounds like Libra is just Facebook's attempt to jump on the crypto bandwagon.  A stablecoin isn't exactly a necessity for Facebook to create, and I'm not sure what it's going to add to their bottom line.

No they haven't.  If you read the CNBC article, they just listed the risk factors and possible barriers which any responsible corporation has to do when they're seeking investors.  They also stated point blank that they're working with regulators to make it happen.

I think libra will not easy to launch, not just stuck in regulation, but their biggest enemy is the financial company and the bankers there, they certainly don't like the presence of libra and obviously libra will be opposed by them, because it will disrupt their business. I am sure any way will be done to tackle libra steps, so that their government forbids the launch of libra.

The law makers will decide if LIBRA will be launched or not. We all know LIBRA is completely centralized so its fate depends on regulators. I sensed something similar in Trump's tweet about crypto recently. I really wish LIBRA holds since it means more adoption for crypto.

They are just delaying the launch I believe, they have come along the way just to stop like that, it's because of the government regulation and restriction, something they have not considered on their planning stage, they have a good attempt maybe in the future they have something that can get back and work, on how to launch their own coin, the future is still open.

A big company like facebook with a lot of data breaches will face regulations as it is going through. I do not see the project not surviving though because these are just checks to make sure they don't breach some existing regulations.
Facebook wanted to make it seem like their project it's a worldwide stuff but the fact is crypto is still not known worldwide. People will use facebook without thinking about facebook coin. 

Facebook Libra is the best option for US to regulate a large cryptocurrency. If they don't allow Libra, many other people and companies would come up with similar ideas which would be much more anonymous than the proposed Libra and the market much more diverse. Facebook would ultimately convience the US government that Libra is their only option to keep controlling the world economy.

Libra was meant to be a project that makes more money to Facebook owners.
Of course, with the current opposition, they are re-thinking everything and if the projected earnings are not big enough to worth the updated costs and the hassle, they may indeed drop it.

But I think that the projected earnings still surpass by a great deal the costs and they will not give it up. Some delays may happen though.

I would not really say given up. They have spent too much resources for that sh*t. Rather than convincing people that they will be able to launch despite the strong criticisms from laawmakers and regulators, facebook decided to be honest this time so kudos to them.

No forth coming information or new updates regarding the libra coin. They are too many things involved.  I think they are planning something big or prolly setting it for better season.

These guys won't stop halfway. I think they will finish their idea. Facebook recently sees a lot of negativity in the direction of itself and now it is his chance to outdo everyone and create a world cryptocurrency.

To me, Zuckerberg seems like a very dedicated and persistent dude, he will for sure find a way to get it launched.

The regulators will not grant permission for operating crypto payment system on the biggest social media. Facebook will give up if the decision doesn't convince the official figures. Libra was born to die and the alternatives will not be able to compete with its permanence.

What's going on here? after the very great applause and welcome to the Libra coin some moments ago, and now there are several negative issues about this. Why we must always think hard about it? I think that it is no need to worry about the project, their team will have their own decision whether continuing or stop, developing or not, and progressing or not. I think that Libra is still worthy to create.

At the first time i think libra will successful but the US goverment really strict and dont want libra to doubt US dollar. You know facebook really popular and most of us using that social media. The struggle is not from who's the investor but who's against Libra.

Libra is the first step in the mass adoption of crypt occurrences. Government will definitely not sit back and watch their greatest tool of human control which is finance become 'decentralized' even though Libra in itself is a regulated and centralized 'cryptocurrency'. The heat Fact book is taking is as a result of this, I doubt the Libra project will be abandoned though although it will most likely be delayed.

Not a shocking news, government are pushing them too much to not release it, the media always saying bad things about it. Even if it's released I think that will just become a huge failure anyway, better not release it at all.
Since Libra is basically stablecoin it will not affect the market that much. I mean there's already so many stablecoin there. People who always screaming about Libra are those who are just unreasonably got hyped anyway.

I don't think they have given up their project but currently the legal systems and authorities are not cooperating enough to ensure that they launch this project successfully but i believe as time goes these legal institutions would soften up and maybe we can see the Libra Coin finally launched.

They just said that they might fail, and the US government has a lot of resistance to their new ideas. I don't know if there are other ways to follow up on Facebook projects.

This is not only a negative US position towards Libra. The position of prohibiting this coin is also occupied by the G7 states. Therefore, I think that Facebook will fail with its big project Libra. In any case, the implementation of this project will cost him too much.

The Facebook team incharge of the libra cpin project are definitely having tough time with the regulatory and US bodies on the launch of the project. Well most pro people in the blockchain world are also against it since the announcement from Facebook and with this the issue is still yet to have a final decision but we should be expecting some before the end of Q4 hopefully.

There is no way they will hive up at this juncture. They will only need to put some things in their right places and restrategize on how to make the project a success.

Based on that article, they are not going to push through with the launching of their token, that's unfortunate, I still consider Libra coin as good publicity in the crypto, US regulation just killed a goose that will lay golden eggs for the Facebook stakes holder, maybe later they can do it, if they can create a roadmap that is acceptable to the US government.

Facebook will not give up on Libra project that easily. Though there are a lot of controversial issues with Libra now ranging from a claim that its whitepaper is plagiarised, and also a lot big names in the crypto industry are also coming agaisnt Libra.

The media are amplifying every piece of news. They warned investors because they are getting a lot of heat from politicians and regulators. This doesn't mean they will give up but it means the launch isn't only in their hands.

Some things are beyond their control and if people like Trump decide to stop them they will be able to because FB is a registered company that needs licences to operate. Bitcoin isn't.

i heard news about the facebook libra coin getting slammed by the us government because i believe they see it as a huge threat to the us dollar. I believe that they are threatened by the adoption rate facebook have.

I think Facebook will do a collaboration with Crypto. the news that I read Facebook will use Libra as transaction money for its users. a policy from Facebook that I think is wrong because they just made a plan that was opposed by the US president. indeed crypto libra has a fairly good price stability with a low purchase price. but whether Facebook does not think later will result in a decrease in its users due to this collaboration. because this will only boost the popularity of libra.

I am pretty surprised, because it was really promising. But when you have a meeting with regulatory party, you should be prepared to answer all the questions straight and honest, which did not happen as far as I know.

is it the facebook doing presale on icobench?

That is true, and facebook has issued a notice, Libra may not be available in 2020 or will never appear. I was hoping Libra would help the crypto market grow quickly but it seems to have failed

You probably forgot how Zuckerberg was called for a report to Congress, and here is the answer to you who really decides on Facebook policy. Total control by the state is the only thing that worries them. Will there be enough desire and strength for the developers to defend their project, we will see.

I think facebook coin not gave up on libra project and I think there are some problem between facebook coin and libra project. In my own opinion facebookcoin is still alive but this is a big challenge to them,to avoid this kind of problem because they only have a very short period of time of preparation.

I think in the end, Facebook won't launch its Libra currency. The US government can be an obstacle here.  Many people started talking negative about Facebook's Libra decision, so, they may be failed which is not good news for the crypto community.

This could just be a gimmick to satisfy regulators as im quite sure that they will launch libra and also it is also certain that they will find a backdoor diplomacy rather deal with the US govt and agencies which will give libra a green signal just expect this to happen in next few months.

Fraudsters are always on the alert and do not miss the opportunity to fake themselves under one of the most popular projects. And strive to deceive people to earn a lot of money. You need to be prepared for this.

As for Libra, I am sure that they will do everything to ensure that their project is implemented.

Facebook started on a wrong foot about their crypto and I use to respect Facebook until I lost respect for them after they came up with their own Libra coin because I realized that Mark lack integrity. I could still remember the fight they gave to ICO campaigns then, the hatred was so much for cryptocurrency that any project that would have been successful them would just cancel the social media campaign for Facebook because they kept blocking them.

only twitter has been very supportive of cryptocurrency and they are the ones that really deserve to come up with a cryptocurrency plan, not Facebook. As if that was not even enough for them, their selfishness as usual also wants to dominate the cryptocurrency market just like they have done to other social media platform.

Even though from the project is allowed to thrive, I do not think it would have garnered the huge marketcap expected of it going by the hype, it is a good thing the project idea never materializes, the crypto space is already saturated

There are lots of factors working against the lunch of Libra coin. Likewise, those who see it as a potential competitor to their own project or coin might also not want it to lunch.
We also never can tell now, if Facebook has given. I think with time, everything will be unveiled.

Facebook has a very good legal team and will definitely look for legal loopholes so that Libra Coin can slide. A large company certainly will not give up on regulations because they certainly have plans for Libra Coin and everything will be done for the good of the company

Maybe Twitter is one of the social media platforms that supports cryptocurrency but Facebook has more advantages than Twitter. There was indeed a mistake made by Facebook when it banned ICO ads some time ago but maybe it was due to government regulations after many ICO scams

ETA about when the facebook coin will be launched will depend on the decision that will be made by US lawmakers about the negotiation between the regulators and facebook. It may be launched or it will never be launched.
There was no official announcement if facebook will launch its crypto in 3 years later.

If you have followed Mark back in the day before the establishment of Facebook you will know he does not give up in things easily. He did not set Facebook on a platter of gold. There was a lot of challenges but he overcame all. He is also going to overcome the challenges of launching Libra too.

I doubt if giving up can possibly be an option for the Facebook team. They have gone a long way than to turn back at this juncture. I am sure they are already restrategizing to ensure they push the project to a success.