Bitcoin Forum

what do you think about the  Facebook’s Libra, could it be the future of altcoin? one thing always amuse me about Facebook's coin till today, there was a time Mark never supported Crypto and now Lauching coin

Mark did not support scam advertisement and the majority of ads related to cryptocurrency is a ponzi scheme and HYIP. That was why they banned it temporarily, but it does not mean they denied it, just like Jack from Twitter. Future of altcoin?
Libra is stable coin, it is not a future but a new competitor for USDT and other stable coins.

just another stable coin like USDT,USDC,PAX,etc.


no, how u can think some stable coin with centralized system will be future of alcoins ?

i guess he just try to reduces scam ico when ico booming a few years ago.

Facebook libra maybe cancel launcing or delay because regulator not giving them permition to operates.
This is a good articles you can read for more detail

• https://www.digitaltrends.com/news/facebook-libra-delay-cancel-sec/
• https://www.cnbc.com/2019/07/29/facebook-warns-investors-that-libra-may-never-see-the-light-of-day.html
  

too many fuzz rising about libra ,so many speculations but the reality Facebook's Libra coin is fast approaching
i really do not think that Bitcoiners should be intimidated about this but it might just what we need for spreading the system.
Imagine the Billion users of facebook being introduced to digital money. As a crypto person im getting excited over this.

Libra coin is not sure to be out in the market, they are still thinking about it but its good for them to create an early hype. If Libra coin already make theit final statement about the future, then I’m sure they will be a good stable coin but I don’t think other altcoins will be affected. Libra coin is still a speculation, and too early to make predictions but I will support that if ever.

basicly libra is a stable coins, thats mean this is just like USDT or others and the value of libra will be fixed my friend
so, this coin will never be a competitors from the top alts such as Eth, litecoin or other
regards

Libra will act as a stable coin only and we must not argue about that because it's clear what will be the purpose of the libra as a stable coin and it will become a medium payment system only on its platform and no more. it will be more interesting for us to discuss wallmart's crypto.

How can it be the future of altcoins if this coin is all about being stable? Mark Zuckerberg never supported any crypto before but he's on the studying period during 2017 which was the all time high and bull run for crypto.

That time took his attention and now he has come up with a plan of making their own altcoin which is a stable coin. I'll wait until it finally launches because now, they are getting hard time with senate.

It's still a speculation and to be honest they should deal first with the senate. I don't think it will be the best altcoin you mean the best stablecoin out there considering how many coins are there that has good products to present with, Libra will struggle for sure.

Libra is nothing but a centralized coin and you will see many companies coming up with these centralized coins and you might even see many governments coming up with their centralized coins and these things are not surprising to figure out how the market will trend in the future, whatever be the situation bitcoin will be the true decentralized currency and merchants and users who wants to trade freely will use bitcoin in the future.

I think it's highly compromised, since many governments want to ban Libra to protect their banks and to protect their national currency.
Unfortunately Libra partners are big companies and they can't afford to be seen as government opponents, so they will skip from the project IMO.

You have a point mate, mark create thos new altcoin under the name of their famous social media company because mark believe facebook willbring too much miney to their company if they can get hype and successful in the market and that isn't possible in the of the facebook social media advertisement for sure people investing in the libra coins.

Mark want to make  easy payment user by user using blockchain, he have facebook, whatsapp and instagram, This fact, when libra launching will got alot of user for using libra for payment that both. but, them Cryptocurrency aren't decentralisation like Bitcoin, libra have centralisation like bank, not pure blockchain technology. And people still have traumatic about facebook at past when they give user data to geverment.

It is not only Mark Zuckerberg who flip-flops regarding his stand on cryptocurrency. Jamie Dimon has made it earlier in the grandest of ways.

Regarding Libra, it is wrong to just treat it as a mere altcoin along with the rest. It would be more apt to classify it together with USDT and other stablecoins. It is not like many of the altcoins in that its value will not be rising and falling all the time. Libra is going to be as stable as the USD.

The support surrounding Libra is enormous so somehow we can say that this could be the future of the stablecoins. I am not talking about the support coming from the regulators of course. They are the hindrance on the contrary. I am talking about the most popular companies we have in the world right now. Facebook has uber, Visa, Spotify, eBay, and many more behind its back.   

No, it aint the future of all altcoin.

It is the future of a human being tracing system.
Sadly, it is a combination of all your information from social media (facebook) and your money like a bank. Pure centralization with a lot of KYC including all your photos and videos being seen by them.

It is not what we really wanted. It is far away from copying bitcoin or other decentralized altcoins out there.
Should just put it to garbage.

I m do not really follow about the development of Libra Facebook, because there are so many growths and new projects are popping up now. if Libra is developing well, of course we all will be happy to hear it.

Yes we know how they did, Facebook have alot of human source and kind of knowledge.
Facebook as newbie become the world of crypto, but have reputation to geting investor like paypal,visa, vodafone, etc. when they came as centralization?, it's not serious problem to cryptocurrency world, especially Bitcoin.

With so many laws and restrictions imposed on Libra, I think it will be very difficult to thrive. It takes a lot of time to be able to influence.
After the hearing, I no longer had faith in Libra. I will not invest in it in the future.

Facebook coin Libra is not going to do much good to altcoins. It is designed to be primarily used for payment, more like a stablecoin, backed with traditional securities such as binds ,fiats, government securities. Maybe describe as the new Paypal and less of cryptos

Even though it is held and validated by a bunch of large companies and it is essentially counter-intuitive to the spirit of an immutable and decentralised digital asset, I think that the project is one step towards mass adoption.

We cannot assume that global and local markets to adopt blockchain and crypto overnight. More often than not, it is a painstaking series of innovations and iterations that lead to common adoption (i.e. Andreas Antonopoulos' discussion on Infrastructure Inversion). Again, while it does not sound totally cohesive to the principles of decentralisation, I think it might be an important stepping stone to get us a step closer to adoption.

https://www.youtube.com/watch?v=5ca70mCCf2M (https://www.youtube.com/watch?v=5ca70mCCf2M)

Also, given the threat of concentration of a large amount of confidential information on more than a third of the world's population, in fact in private hands, it is unlikely that the Libra project will ever be launched. After the USA and other G-7 countries spoke very harshly against the appearance of such a project, and then Visa refused to cooperate with it, Facebook doubted the successful launch of this project. Most likely, this project will be buried soon.

Typically a full contrary on why decentralized cryptocurrency is being made where to avoid all of sorts of these things like kyc and other tracking related stuff.
This Libra is no different from a typical casual fiat system.They might integrate blockchain technology but this one isn't a crypto and now they are already facing up issues with government.Lets see if they would able to get out.

I could remember that Facebook ban bitcoin and cryptocurrency ads in 2017 and that brought bitcoin market down in 2018. I strongly believe that that time the aim of banning crypto's ads was to kill the market and bring out their own coins but thing change and Bitcoin became stronger this year.

Libra is a stable coin which means it can't be the future of altcoin but the launch of libra will create a mass awareness about cryptocurrency causing the marketcap of top cryptocurrencies like bitcoin and ethereum to skyrocket.

Looking profit at libra? with a stable coin, How they will grow up for the price.

Libra was not a good investment if you try to find a profitable investment, because the value of libra would be the same. I don't really interesting/hype about "Libra", Anyway Libra probably it's a centralized system. The good thing from them only give us free marketing for a cryptocurrency.

There are too many different opinions about Libra, future FB stable coin. Some guys think that it can be a good way to save money from inflation, whereas others are afraid of being watched all the time. Facebook is known as the social network which cannot keep the information about their users in secret. With Libra, this information can spread all over the world.

It is a centralized coin which takes away the true essence of the blockchain, it is to give the freedom to the people. It won't be able to overtake all of the altcoins for the mere fact it is centralized, but it could help cryptocurrency to adapt globally and get noticed.

Apparently, a lot of questions arise regarding Libra than answers.  First of all, in my opinion, Libra cannot be considered a cryptocurrency, because it will not be decentralized and independent, as other cryptocurrencies suggest.  In addition, it seems to me that this will be the next payment system with its own coins, which will use blockchain technology for its transactions.

definitely Facebook is doing well and their perfect job because if this type of companies are entered into cryptocurrency field then there will be lots of support will be created for the pro currency it is good for the other cryptocurrency also.

I don't think that's the reason why Bitcoin dropped during that time but it was due to the correction which is normal by the way when the market is from surging. Facebook banning crypto ads on their platform has nothing to do with the market down in 2018. Facebook Libra is just another stable coin that is used for payment only and it is not a threat to Bitcoin.

It is planned that Libra will be decentralized and can not be directly controlled by it either on Facebook or in investing companies. The initial course and methods of mining are also not yet known. Initially, users from the USA, Great Britain, and the European Union will be able to use it. In the future, it should spread to all countries where Facebook services are available. However, I am sure that Libra will be controlled.

I think one of the main purposes for this coin is data gathering on users purchasing activity. Facebook makes its money through selling user data, and using it for behavioural profiling so they can predict (and influence) future behaviour. It's a very lucrative market, and is the basis of FBs profits.

this is very good news for all of us, where facebook has begun to believe in the world of crypto currencies. how not, a largest social media in the world will be more free to introduce crypto currency to people who are still many who do not know it. and hopefully this will impact the development of all coins ..

Mark Zuckerberg is a computer genius and also a businessman,in cryptocurrency more than half of on going projects are scams so how would you expect Mark to support them?so he created he’s own currency to make two hits in single shot.
Helping investors to put money safer under he’s company in which Facebook coin (Libra)at the sane time profiting from this.isnt it a perfect move to favor both parties investors and him?

Investors?
Are you the type of person going to the next shop and buy a gift card as investment?
Stablecoins are digital gift cards.

There is no data that Facebook needs that is not already within his reach, and even if they release their coin, the people that will still be in their cryptocurrency community are those within its 2 billion users, which they already have their data through the Facebook account that they have all opened.

I am just suspecting that one of the reason why they became keen about cryptocurrency suddenly is because of the accusation of government against them which resulted to the high charge that is being slammed against them, maybe they just want to create a decentralized system that will make their activities also open to the world rather than them getting slammed and accused of abusing their user’s privacy. We are the ones assuming they sell data because Mark denied it.

So many specilation about Libra... But this launch may not happens at all. At leadt at this moment they can't agree with financial regulators.

Hello all the facebook coin Libra is not much nice as people think of it in starting promotion was good because of the facebook own currency but not that much good I see libra is.

The Libra team will definitely have to pause the implementation of the project, solve the issue with those things that seem to be obstacles because the governments believe the project will affect national currencies since the team said they want the coin to be global currency and it was said to be pegged to some national currency.

the project has been planned carefully. I'm sure the developer won't just be quiet because of this problem. there is a solution for licensing. besides libra is supported by many large companies, they can move places and locations of their offices if possible to get permission.

We even don't know the decision of US government for Libra.  And it seems that the government is not going to be convinced easily.
By the way, Facebook and the partners can start to use it without US government permission.

I think, although this is not a decentralized coin, it will be popular. Facebook’s Libra will be popular because there is a big company behind this coin. And this attracts investors well. This is a new stage in the evolution of cryptocurrencies.

I can not understand what interest in Libra in terms of investment if the price of a coin is fixed? Speculative interest is needed to increase attention to this product.

What kind of person would "invest" in something with nothing to gain and only loses:

• handing over all financial data to some company which has been find for data preaches
• pay trading fees
• lose ~3% of value because of inflation

It is all depends on their developer in future. If really serious, with power of Facebook's influence it can be coin that really success. Especially if it can be used in facebook platform and can pay anything that related in facebook. Maybe in future people will have option to pay any cash in Facebook platform game or maybe pay ads with this coin. WIth everything that Facebook have, will be big fail if they can't make libra success.

I agree, Probably the interest would be for companies since it would be just another payment option for goods/services and wouldn't trust my money to Facebook since they had a track record for security breaches. Crypto users arent enthusiastic about Libra because we already knew that it would be using a centralized.

Libra is not necessarily the future of Altcoin ...
The presence of Libra Facebook is just a new spirit for other coins in market competition and for me, Libra will only be a stable coin.

https://i.ibb.co/WGFkv4R/in-a-nutshell.jpg (https://imgbb.com/)

The key point for me in the above image is  "Facebook in control of users' data, and will sell it".
This is the basis of their business model. They don't just sell our data, they also use it to build increasingly accurate profiles of us in order to predict and influence our future behaviour as well. They already have vast amounts of our data. This coin gives them financial/purchasing data as well. I don't trust FB at all.

Libra's mission is to reinvent money and change the global economy so that people everywhere can live better.
https://coinmarketcap.com/currencies/facebook-libra/

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Regarding security, Facebook claims not to mix personal data on Facebook with libra transactions.  The user's identity is hidden just like bitcoin.  That way, users can trade with a pseudonym and are free from targeting Facebook ads
https://www.google.com/amp/s/www.jawapos.com/oto-dan-tekno/teknologi/25/08/2019/mata-uang-facebook-libra-terancam-batal-diluncurkan/%3famp

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Facilitate purchases with Libra coins

I don't see Libra being the future of altcoins, it's being discussed and can gain decent coin value but I don't see it topping neither ETH or LTC. I saw from a blockchain news (https://www.coincurb.com/?utm_source=lx) that they're not even concerned about regulatory issues that they may be facing. Now, that's scary and as a possible investor, tables may turn if they continue not to comply to regulations.

Libra is a future of its own, they might have a big user database, but that does not mean that there is not going to be another project that has the tendency of making them really not being able to govern the altcoins.

Everyone have their own technology concept and there are definitely going to be project that has that, and moreover, what people are basically interested in right now are coins that can be used as investment, where they can out in their money and then expect some profits in some years into the investment, but seems libra might not be able to provide such opportunity because they are coming into the cryptocurrency market as a stable coin, and we know that stable coin is not usually that useful in that aspect other than being a utility token.

Are you sure that it is through the sale of data alone that they do make money, because in my country, we make use of Facebook and Instagram a lot to promote our products to the world out there, and which there is an amount that is being charge for it, for my business, at least I pend $10 everyday to showcase my product to the world which I have also gotten lots of responses that has made me to be able to make my profit and also get the advert money back, and for the past 4 years, I have been advertising of Facebook.

Since I started making use of Facebook business advert, I have spent over $15000, and same as so many people also do in so many countries, and I don’t think that it is as a result of sales of people’s data that they make money.

We don't know it yet if they sell user data directly. That will cross the data privacy terms.

Yes, I am also using facebook ads and millions of user are using facebook ads service. And that is one of their income sources. However, they are using people's data to match your ads setting such as age, location, etc.
 
Libra oh libra...will see it later. I don't want to speculate too much about it. Just hoping that will be a transparent one.

Libra is good for the industry but boring as a project.

There's nothing in the Libra project that I find particularly exciting or new. But it is showing use cases in business and is adding a level of commercial validation, that there are real businesses and uses for crypto outside of a small crypto community. It's in the newspapers, on TV, people are discussing it. That's all great for the industry I feel. I don't see Libra dominating though, hopefully it will help other more interesting projects to flourish.

Fail to see the good to have another bank with it own in house currency pegged to a bunch of fiat currencies.
In Northern Ireland every bank has its own notes, all pegged to the English pound in UK, outside higher exchange fees arise.
Libra is no different to opening a bank account, except there is not physical branch.
Is Zuckerberg god? he can see everyone's transactions and who exactly is checking/verifying his ID on sign up process?
Apple has already hinted they will create own coin

Effects of inflation, purchasing power decreasing, poorer day by day.
If you started with $100 when the Federal Reserve was first created in 1913, it would now be worth $3.87.
1913: $100
1923: $57.89
1933: $76.15
1943: $57.23
1953: $37.08
1963: $32.35
1973: $22.30
1983: $9.94
1993: $6.85
2003: $5.38
2013: $4.25
2019: $3.87