Bitcoin Forum

Yes I am worried about this issue. Because like what China done to ban crypto, now France and German will block facebook's libra. And eventually all the crypto will follow to be block to those country and I think like China they will launch their own crypto. And worst thing there is possibility that many country will follow those action. It will have a bad impact to the coin holder and investors and can cause loss.

I am not worried at all.  I think France and Germany needs a little more time to understand what Libra is and its intent, affect to the country's market economy is.  Once they understand it clearly they will eventualy lift this ban in due time.  If not then I do not see any affect of this action to BTC since they are two different cryptocurrency.


If they wanted to ban BTC,  they have done it years ago and not after banning Facebook's Libra.

nope , not at all . i dont know why , but somehow, i have lost interest with Libra recently.
since libra just using crypto as a mask(maybe we can say like that.) but does not provide anything meaningful for crypto currency.

no, I'm not worried.

even I support it. Libra is not a good project, they are hype because of Facebook. a true crypto lover will definitely reject it, because libra is centralized

Yes, I am very worried that in the future all countries will block the circulation of crypto. because many developed countries have blocked the existence of crypto, the reason they only fear if the central bank is displaced by crypto. they should think more about the future than just thinking about profits. because I think this cryoto will be the best step in handling finances in the future which of course requires a higher level of security and the services required to be extra fast.

nope, why we should worried buddy,, because its about libra not all cryptocurrency especially bitcoin
and in my opinion if any country want to block bitcoin, they should shut down the internet  ;)

Why would I? China threatened to do the same with bitcoin back in the past and that didn't even affect bitcoin. US and some other countries ban ICOs in their country and it doesn't affect a lot of the project. France and Germany blocking Libra isn't going to make me at all worried.

Im not even feeling worried about that dude. Libra still has a lot of options just like canadian country like swiss already declared it can fully support libra and create such regulation for libra and legalize it as legal crypto.
We still have canadian country to be another option. They will be accepting it after the canadian country has proven if that was a safe decision. These countries are always adopting the new tech at the end of the story. US first and UE countries next. But we can expect libra will have released by facebook company under swiss regulation and FINMA

no problem, even if libra is blocked in Europe. they can still get investors. because many are waiting for this project to launch. so even though they are blocked in several countries, they can still raise funds.

Why would I worry for something that is not yet there, we still don't know what impact Libra coin can create to all of us, this is my opinion, we are all divided on our opinion on Libra coin, but Libra coin is something I expect, Facebook will eventually create their own coin, it was echoed in the past and it's now happening.

France and Germany have a huge impact, but Facebook has all the resources to make things happen, and like what I've always said they know how to lobby.

I'm not really worried about this, because they only reject libra, and libra is a stable coin made by Facebook. anyway, I think other countries will accept libra for now. when the development is good, I think german, and France will provide an opportunity for libra.

I support the development of libra, but I do not prioritize it, even though Libra is still in the development stage. besides, libra is different from bitcoin. I think that Germany and France are not concerned about bitcoin, it's just that they are most likely worried that Libra will create instability in the economic system later.

if the development is indeed going to be very good for a country, I think it will be like China returning to accept bitcoin.

There is nothing to worry about it, that is why Libra is not here yet and that means why France and Germany have to block Facebook's Libra. It sounds unbelievable for me, there is no Libra and we don't know how Libra affect cryptocurrency. More than that l don't think, this decision will affect Libra bad, maybe a little. Because there are a lot of investors, who are waiting for Libra impatiently.

The Libra coin is not going to give satisfactory returns if Facebook decides to trade the Libra on their personal crypto exchange. Just a guess. It will be very interesting to watch the government and Libra team debates on the TV. Even the worst decision will be a good for speeding up the mass adoption allowance.

Me nope, I'm not worried that France and Germany block Libra. It is not launch yet and you know Libra is a stable coin so we can not make money of it. It is not volatile like bitcoin.

So a private company (Facebook) which been found guilty of data mishandling is confirming, validating and can see every transaction of another private company (lets say Jeff's Locksmith) or a private person (judge, solicitor, clerk, cashier, officer....... )  , but (Jeff's Locksmith) can not see anything the other private company (Facebook) is doing.

It the same as playing poker, one holding the cards facing him, the other player must have its cards face up, that's a rigged game.
How can the one showing his cards win

I am not worried at all. Libra is not a good project to get support all crypto friendly countries. Infact this is a good decision. Also they are not blocking any other crypto coins or projects.

I'm worried as it turns out to be a big signal that most countries are fighting against cryptocurrency adoption if there's a neutral ground it could've been better.

As originating from USA most countries will definitely have reservations about libra as a world stable coin so it is the right of every country to launch their own coin and i think this will massively boost crypto market just let all these countries enter the coin war all fiat is sooner or later is coming to crypto and eventually we are going to see massive price growth in coming years so we should be positive about all these issues.

Well will make a lock of the libra and this will only give more popularity coin, since many will buy it under a proxy and VPN.
I doubt that this will affect the popularity of the coin, for example, bitcoin is prohibited in many countries, but it is still used and the price is only growing.

I agree with the reasons to worry, If the power house of Europe economy turns a blind eye to libra they could be in for a big denial. The timing is wrong for the coin in Europe as a whole, they worried about so many things and crypto is the least on the table. I also dont doubt the effect of America in this but I think if they had started with approach to smaller countries it may take long time but could be effective

Hypocritical move, banning one crypto and leaving all other crypto's as legit. I don't know what is so bad about libra that it calls for a ban by France and Germany but it certainly reminds that banks are regulating everything. We are fine as long they don't touch other cryptocurencies, especially bitcoin.

Without any doubt those are bad news. Especially, I did not expect this to happen in Europe, because it was always really crypto friendly and you could purchase even stuff on the street with crypto currencies.

yes I agree with you, I'm not too worried as long as they don't affect the big crypto (btc or eth). there is and without a crypto market libra cudah is quite large and even though libra is blocked throughout the world even though it will not affect the market.

It seems that the Libra project will not be implemented, since he has a lot of opponents.  You can pay attention to the fact that not only the US government turned to Libra developers a moratorium on the implementation of this project almost a month ago, but today the number of countries opposing Libra is increasing.  At the same time, France and Germany do not pursue negative policies regarding the cryptocurrency market, because they believe that trading in cryptocurrencies does not violate any laws and should not even be taxed.

No, I'm not worried. And surprisingly, while I do not like Libra (mainly because it emanates from Facebook), I must recognize it's playing the role of a 'catalyst', forcing states to react.

To me it could lead to the creation of state cryptocurrencies (stablecoins), leaving a big space to bitcoin and other cryptos as 'store of value' assets.

This is serious, they are seeing it as a threat. But isn't Libra coin suffering too much in the hands of the politicians! they need not block it, they should just create a rival coin as an alternative to Libra and let's see how they fair.

I think France and Germany blocking Libra is more about avoiding private companies like Mark Zuckerburg's Facebook to have a controlling stake in a future financial system for Europe. They like Bitcoin more because it is decentralized.

it will just make Libra coin a popular coin in the market, they are doing what they've done to Bitcoin when it was just starting out, I don't know what they did see that they want to ban Libracoin, we will see its impact once Libra coin is launch, and we will also see if Libra is detrimental or contributor to Cryptocurrency's growth.

Every private company creating money in the past has been shut down. Nothing new.

Secondary, its a scam anyway
https://bitcointalk.org/index.php?topic=5184561.msg52454628#msg52454628

France and Germany didn´t say that they are going to block all cryptocurrencies. They have only problem with stablecoins created by corporate companies. They are afraid that such stablecoins can threaten the sovereignty of the state.  ;)

Probably this country has seen something alarming with Facebook's Libra.  They are we aware how popular facebook is and probably see it as a threat to their centralized financial instittuiton.  Aside from that there are lots of issue regarding facebooks mishandling of accounts and leaking privacy info of their members.  Maybe this is one of the major reason why the two country is aiming to block FB Libra, thinking that  Libra may exploit their client the way FB exploit the identity of their users.

libra not live yet, and crypto world is free to use, why to worry, we still not sure if this project wil success or not, i am waiting to see what will happen

I was almost forgetting about Libra coin, because I had concluded that it has been written off by the team, due to lots of attacks, even from the US government.
If France and Germany is zeroing on it, why should I be worried. Inasmuch as the team is still having the desire and zeal to continue with it, irrespective f the opinion of any country, it dies not stop its success

Maybe it's in it because there are certain interests. The reason is not strong enough.
In this case, actually there are still many other countries that accept and support Facebook coin, Libra. I myself think if some countries want to block the coin, does that mean because Libra has a high potential for success?
If it's like this, we don't need to worry too much. As long as the coins are able to survive and are more valuable, they will also receive them later.

Germany has already made a reason why it's not allowed to be operated and will have banned by that country and the reason is
source: https://seekingalpha.com/news/3499306-germany-set-ban-libra-favor-state-solution-report

It's much more on the domination by a single person but that country will be allowing any blockchain startup to operated and german will be facilitated blockchain startup.

if that only happend on facebook's coin libra only then its okay , libra just another stable coin for me, lost interest to invest on libra coin. its enough for me use usdt and usdc as stable coin. if that happend I dont think that will impact crypticurrency at all.

Why should I be worried they are not yet tradeable in the market, everything that are attached to Libracoin is all just possibility, they are all afraid of the possibility that Libracoin is going to do, they should have let it launchg first and just ban if there are some actions that Libra coin team are doing that are against their existing policy.

I do not think Libra is a good idea. I do not think that global financial stability should be given in private hands. A similar stable coin should be created by a number of states whose currencies will be used as its security. Therefore, I am even more interested in a similar coin from the Chinese government - CBDC.
As far as I know, not only Germany and France strongly oppose the appearance of the Libra coin. All G-7 states have the same opinion.

Seems wrong to me but Im not surprised the European central bank does not want any competition and the idea of the EU to begin with is a closed system of trade within members only.  If Libra helped to open up currency across the world then we cant be surprised they want to ban Libra.
   Its not right because both these countries are supposed to be democracies and in some way based on capitalism which is the idea of each individual has the means to own production and capital not the state or by royal charter like we had for hundreds of years previous.   The problem with centralised value and absolute control by those in power is it becomes more open to corruption and failure and unfortunately that is the likely trend for many western economies now, bans wont help them retain power as it declines in a natural phenomena not by any individual or single companies will.

https://www.reuters.com/article/us-facebook-cryptocurrency-france-german/france-and-germany-agree-to-block-facebooks-libra-idUSKCN1VY1XU

This is a funny pic, especially that guy that is behind them campaigning for bitcoin, I really don’t know why they support bitcoin and do not want Facebook, we can see that bitcoin own the cryptocurrency and no matter how big another alt may be, it can never be accepted by people. France and Germany don’t even need to go to the length of disagreeing with Facebook crypto before Facebook realize that people would not use it.

Why should I use Facebook coin, when I already know all the story behind Facebook on how they usually steal and sell people’s data to make money, if I now put my financial life in their hands, what then do I expect to happen, they will just sell the whole of me, so I support that they should not allow Facebook to operate, nemesis is catching up on them when they were blocking every crypto adverts, they didn’t know they will need the support of people too.

no, i don;t care about Libra, but as we know Facebook is just part of Libra Project with other company are backed on this project, and many of them are big company with have big marketshares in their industry, for example Facebook have much active user, when they advertise this project on their platform, you think how many people can reach, and even europe are block Libra i think don't affect Libra project itslef

Well there already cryptocurrency projects being developed in Germany specifically I wouldn't understand their reasons for trying to block Libra project when they have their native citizens develop nd build cryptocurrency projects in Germany. For instance we have savedroid in Frankfurt, then there's Bitbond also a German cryptocurrency project.

True, it could be because of their own projects in Germany and France, so that the presence of Libra is blocked by them so there is no competition between projects in the lives of German and French people in particular, even though the presence of Libra is also not necessarily able to damage the reputation of other projects in Germany or in Germany. France.

That would be protectionism and really wouldn't encourage the development of crypto projects within Germany by suppressing any business outside Germany wanting to do trade.   Its hard to discount this idea completely but I think the real main motivation is governments want and need even to have a iron fist control of currency most usable within their borders.    They could state security concerns as the main reason but I doubt thats it either.
   I'm interested in how Japan might react in contrast as they have been the most positive western government towards crypto that I can remember.   Also every government I can think of otherwise has threatened to ban crypto at some point, mostly because they dislike the idea of free exchange of value.    If they cant tax it, what use is its continued existence?  Its almost a joke its so biased in its thinking but I dont think that far off the jist of how governments examine anything.

you state enough reason on how big libra was but you still dont care about it ? its big that it can impact  other cryptos not just cryptos but it can also impact other busineses as well  but thankfully some other countries decided to block it , i think they only did a good decision there  .

 they are only protecting thier countries own coin  for a possible competition that libra coin can bring  .

 i dont worry about the issue but i already feel contented that those countries already taken an action  .

Bitcoin cannot be banned.Libra can.What are the specific losses You will incur?I personally neither cold nor hot from that Libra will live or not.About China-what made You think that there cryptocurrency is prohibited to use?
Based on the graph, we can assume that only one exchange Huobi 800 thousand chinese.As you know, this indicator shows statistics of only one exchange.In general, of course, there are more chinese.

I thought it was only France that demonstrated some hostility. anyway, i am not a fan of libra so no regrets really. let it be, as they say.

Two countries are Libra positive but the rest world is sceptic about Libra. If these 2 countries allow Facebook to run Libra in these countries, would this really mean a worldwide payment method?

I thought that US and whole Europe is against Facebook Libra so Libra partnered with Switzerland to launch Libra here.

Switzerland is a well known as a country that is crypto positive, that makes this country rich because many crypto companies just moved here.

Me? No, I'm definitely not. Mark Zuckberg has already been tried by the Human Rights Court if I remember correctly. This means that especially Europe and European countries do not trust MZ. Blockchain technology can turn into a more dangerous weapon if it falls into the wrong hands. Europe is vetoing the Libra project because they know Mark Zuckberg is scammer and fraud. This is understandable and I would like to congratulate the European countries for doing so. They made the right decision. Blockchain should not put scammers like Mark Zuckberg into the ecosystem and throw them out of the system.

Facebook is a huge social network that already today has access to large amounts of personal data and therefore, in this case, there is a certain danger.  We all know about the lawsuits of the Facebook administration and other problems regarding the loss of personal data of users, and this situation changes the attitude towards the Libra project itself.  I believe that everyone should do their own thing, and not try to follow the trend.  Speaking in your words, I really appreciate blockchain and cryptocurrency for the opportunity to become not only financially independent, but also independent of all banking systems and governments.  But at the same time, Libra will concentrate all user data, including financial, which will be concentrated in the hands of Facebook.  I would not like that very much.  Apparently there is already a certain list of countries, not just Germany and France, which will actively oppose the implementation of this project.

Not really, even Libra is cancelled it won't even bother me as it is basically the same as other existing centralized crypto like all those stablecoins alright? the difference is only because Libra issued by massive corporation that has a really huge capitalization and therefore making people feeling excited about it while it's actually just repeating the same cycle that already existed.
It seems that if France and Germany really agree to block libra, visa and mastercards which thinking about reconsidering the decision of investing into Libra might back out.

Personally, this news doesn’t bother me much and I don’t worry about it. How many different news have already been in the direction of cryptocurrencies and various platforms, but they either did not come true or everything happened on the contrary. I would not particularly pay attention to such statements, because, as world practice shows, today they say one thing and tomorrow they do another. I do not exclude that this is just a specially created statement, which would put pressure on someone or confuse the community somewhere.

Of course i am not; They want to block Libra because they can block it, and that's because it's centralized. This just brings more people to bitcoin when they start to look for answers on why can't they won't block that too. And there's really no need for another centralized stablecoin like Libra. We already have DAI, Tether and other stable coins that i can't even remember.

I never worry at all about the news and Europe is leading the way to become the block chain hub, so this issue can be resolved on a later stage. Facebook is a big organization they might prepare for this problem.

In terms of facebook's libra coin, I think France and Germany will not contribute that big to the development of the coin, since facebook is a social media, people who are using facebook will be the big subject to it. Let us consider the country like india as the top facebook users in the world 2019 based on https://sproutsocial.com/insights/facebook-stats-for-marketers/ (https://sproutsocial.com/insights/facebook-stats-for-marketers/). The top users will have the biggest impact on the libra coin as they are the direct subject to it.

No, we shouldn't worry. If they could ban bitcoin, they would have done it years ago. I am not a fan of Libra and Facebook itself. And not only Germany and France are strongly against the appearance of the Libra. Its launch in 2020 is really doubtful.

It is very important for us to see how regulators approach centralized cryptocurrencies. They have problem with Libra or Tether. But they didn´t show negative attitude against Bitcoin. Because they do not believe that one day Bitcoin could dominate the world?

No im not worried about that issue since, facebook Libra is different from Bitcoin and other existing cryptocurrencies, while Libra is a so called crypto stablecoin but it was not fully decentralized in my opinion, the main reason why these regulatory issues arise because Facebook Libra was intended to replace the existing traditional fiat currency and countries that opposing it like you mentioned (France and Germany) are feeling threatened in that case im sure Bitcoin and other cryptocurrencies wont be affected by that so called Ban.

Bitcoin is decentralised, there are loads of crypto businesses from miners to wallet providers like Coinbase to exchanges, involved in bitcoin. There is a proper eco-system and no one company "owns" bitcoin or the other alts.

Whereas Libra is just Facebook and centralises power in Zukerberg's hands. Given that Zukerberg is not a nice man, this is a problem.

Tether and Libra have a different story, we can not measure Bitcoin with them because all of them are different. The reason why Regulators do not show a negative attitude against Bitcoin(in general, not specific) because Bitcoin is meant to be an asset while Libra and Tether are trying to be a regulated digital currency.
a regulated currency can be considered as a formal currency which means it has real value just like other currency. If the currency is not being controlled by the government, it could affect their economy because of inflation.

Definitely true, we can't just compare an orange to an apple which in this case is Bitcoin (decentralized, no one have the authority even the government) to Libra and USDT(Stable coin and have company behind it to back it up with real asset or money). The stablecoins tend to attract the attention of regulators simply because it is backed up by real money and every token being printed means the reserve fund is increased, but due to the massive USDT printing lately it has attracted so much attention that some people even asumming that the company is just printing the USDT without even adding  more reserve fund which ofcourse I don't know whether that's true or not, it's just a rumour after all. Regarding bitcoin, the only thing government could do is by releasing regulation to limit bitcoin usage by their own citizens.

Honestly, i am not worried about it. I think people really too hype about Libra. If me i will stay on bitcoin, whether Libra will give positive thing to bitcoin or maybe anything like that. My favourite coin will stay at bitcoin. If bitcoin not accepted in a lot of countries, that will make me very worry.

So far no country are following their action here in our Asian only China is against them, but it's ok that they have an opposition because there will be check and balance, Libra coin cannot abuse their clients and users because they are under the radar of many countries and regulators so i think they are going to behave.

Not worried about it, France and Germany can only block and not shutdown.

France and Germany of course knew what this Libra stands for but since Libra(facebook) is going into the financial system in EU countries, Libra or facebook will have access to their citizens. France and Germany and probably all other countries out there would want to take a piece of a pie that Libra has to offer otherwise it will be blocked. Proportion currencies each country I guess.

not worried, they want to ensure that all existing regulations are followed, and if they must be changed in the future, so they can guarantee the stability of the international financial system. Facebook's digital currency must not be allowed to operate in Europe. Given that there are still concerns about sovereignty and sustainable financial risk.

Nope once these government block Libra, it is automatically banned in their country, and the citizen are not allow to use it even if their have access on it. 



Isn't it the opposite?  If they are trying to block Libra then there will be no operation in their country, no taxes to get from the usage of that cryptocurrency.  It is not the offer they have seen in here.  It is the possible manipulation that can affect their economic state.

Getting mixed feelings about it. On one hand it's really good that they cannot stop bitcoin, hence the silence. they can stop centralized Libra, hence the swift action. At the same time, Crypto success depends upon mass adoption and mass adoption means people being able to use it without fear of sanction. Most people will not risk breaking the law to use Crypto, therefore no mass adoption, therefore Crypto cannot succeed. France & Germany are more worried about Facebook, a corporation that is arguably more powerful than many governments, taking control of their financial system. If Libra became the world currency, Mark Zuckerberg would be the most powerful man to ever exist in the history of the world.

What makes you think that this scenario will happen? The libra is not on the market, they are trying to strangle it in the bud. In addition, this is not quite a cryptocurrency, it is a stable centralized digital asset.
The crypto market will not react in any way to the ban on libra by these countries. But the fact that the rest can join them by decision of the Libra ban is quite likely.

Of course I'm concerned. This is a very bad trend for other countries. Libra is a stablecoin that the community really needs to popularize. If most countries refuse to implement Libra then we will have a very bad future. The bad news is that it will be almost impossible to introduce cryptocurrency in the future.

If France and Germany who I think has been a bit fare to bitcoin is totally against Facebook, what assurance do you have the India who we know that has been against bitcoin will ever support Facebook Libra coin. India is the least country that I expect right now to ever support Facebook project, they will only end up going against it too and I think most of these countries that are powerful and beginning to dislike Facebook Libra coin is already sending wrong signals out.

PayPal being one of the companies that has promised support for the Libra coin is already backing out of the game already and I think that is already a very bad omen that Facebook coin may not succeed. Most of users who would have made the Facebook coin successful will also fear that the government would have issue with them, so they might not really support also.