Bitcoin Forum

The launching of Facebook stablecoin is getting support from prominent people in the crypto space, regulators have been teaming up in order to dissect Libra for everything it’s got since it will bring an end to all traditional money which is major concerns of some countries in the European soil such as France and Germany which has vowed to block their citizenship from using if later successfully launched. Would Facebook be successful on this mission that has attracted global critics? Rest of the story can be found here: https://cryptodaily.co.uk/2019/09/coinbase-ceo-show-support-facebooks-libra?utm_source=OneSignal&utm_medium=App

"bring an end to all traditional money " ?

This would be the hardest or almost impossible thing to target on thats why Libra face up lots of critics and soo much hate even its not being released yet.
Coinbase CEO might show some support but on my own view this is some paid advertisement instead. What you think?

Most likely, this is a well-planned public relations company that should be aimed at crypto enthusiasts.

But many people don’t like the coin from Facebook, due to cooperation with the authorities, investors will not keep capital in it, since their money will be in full view and any government will be able to ban the withdrawal of their funds.

Coinbase is really active nowadays, I believe they want to be a real Binance competitor in the future, thats why they are adding a lot of coins and trying to create good relationships with Libar and TON for maybe a potential primary listing agreement.

No one knows if this news is true and really stated. But we need to think wide. All we know that the crypto world is a big business venture. Maybe facebook coin management pay David Marcus to promote and show his support to facebook project launch. No one knows it's up to you to have some research about this coin if you are planning to invest.

well Libra is a centralized shitcoin created and controlled by a company that is known to exploit its user's privacy a lot. so no there is no way such product could really succeed. of course having a big multi million company to advertise it and having a large number of users will be in their favor but i still wouldn't call that "success", it would be just sheeps following a wolf.

I also do not believe that traditional money will be totally replaced, I'm on co-existing it's better this way and win-win situation and there's a lot of advantages if Cryptocurrency and fiat co-exist at an even level, on Libra they cannot stop its eventual launching, there are some sectors that are not yet showing full support and just want to wait and see what's going to happen but they will.

On Coinbase they have so many things to gain if they support Libra Coin so why not show support this early.

i think coinbase CEO will always supporting a cryptocurrency project created by famous company such as libra
because if libra really born, this will affected the market of all cryptocurrency mate

There were people talking about Libra being just a traditional coin with blockchain wrapper and has no contribution in the development of blockchain. While David Marcus stated Libra would be a good move for blockchain and cryptocurrency development.
And I'd agree with him. Whatever be the motive of Libra, it would pioneer a new grade of cryptocurrency and motivate others to create a better alternative.

It is true because Brian himself said it on his twitter.
Well you can find his tweet about this here https://twitter.com/brian_armstrong/status/1176991591845654528, he stated it indirectly but we should understand it.
I do not think Brian get paid because of this, because he was trying to defend and support Libra after series of attack from the government and community.
so I assume there is no financial gain involved. Of course I could be wrong here

The title seems to say that David Marcus is the CEO of Coinbase. I thought that is what this thread is all about.

David Marcus is not the CEO of Coinbase, for clarification's sake. Marcus is part of Facebook, particularly the messenger unit of the social media giant. I can remember David Marcus, in one of his explanations about the libra project, for his famous remark that basically tells people that they don't have to trust Facebook to support or trust libra. It is because libra is not Facebook as Facebook is not libra.

Coinbase, in one hand, is of course behind libra because libra and Coinbase share the same world which is the crypto world.

Well, thats possible. And Libra is attracting big name in crypto industry such like an advertiser or influencer. Coinbase has big follower also, and this announcement reach more crypto enthusiast. I think more crypto personality will jump to Libra in the future, promoting it in different platform and I will not be surprise.

Wouldn't be surprised if Facebook is up to no good again and paying many of these aggregators to hype up their Libra coin. With problems regarding regulatory concerns in different parts of the world, all they can do is wait and hope that all norms are fulfilled before release and in the meantime they can create some buzz going in the top news sections.

This is excellent, because through Libra many people around the world will finally be introduced to cryptocurrency, even if its through a centralized authority. Many will adopt Bitcoin as well, just from the awareness that Libra will raise. I hope Libra is a successful endeavor, maybe the market will pick up significantly with its adoption. Go Zuckerberg!  8)

Blockchain doesn't need Mark Zuckerberg or Facebook. Blockchain technology doesn't need any technology giants. Because blockchain and cryptocurrencies are able to make this revolution alone.
I don't support the Libra project from the beginning. But I'm pleased with the short-term bullish effect on the market, that's all.

Coinbase CEO's opinion on the Libra cryptocurrency doesn't really matter and will have no effect or any way influence most members of the crypto community's stance - and that is to shy away from Libra as possibly as they could! Moreover, maybe he did announced his support to Facebook's Libra only to please Mark Zuckerberg since we may not know if he has any other hidden agenda being a businessman himself. ;D

So none in the senate were able to publish some support to Libra despite facebook hiring popular lobbyist. What they got for now is the Coinbase CEO, they got a long road to walk. While China is already miles and miles ahead in digital currencies.


With facebook's Libra launched, Coinbase will also benefit since people will also be registering to them. People will credit cards will go to the platform.

Facebook would not be succesful in this case but my point is this support from Coinbase CEO will give a huge impact or at least give a chance to replace the opinion and decision that has made by US regulators and EU countries like germany and france? This gives nothing for libra.
What is really needed by libra is not a support but regulator approval to launch its token.
It looks like CEO just try to create another sensation.

We all are individuals and we all have different thought processes. So if a prominent crypto personality supports another centralized currency, what the issue in that?? I am sure Devis is eyeing for some million dollar deals from Facebook!

Facebook is yet to face regulatory hurdles mate! SEC has already raised concerns about Libra and facebook is working on that. They have not yet come to the Asian market which is known to be conservative! I don't see any opportunity for Libra to be released before 2022.

That's really going to happen I remember the CEO of Binance giving negative comments about Libra Coin, so there's a possibility that they are not going to list Libra Coin and Coinbase is taking this opportunity by supporting Libra Coin, so expect cooperation between the two giants, it will be good for libra coin's entry.

Wow! Prominent people against the government? Who do I think would win? but I think that it is prominent people because without Prominent people, there is no government, and government cannot fight them all because they have the money, they can only invite them for a chat and let them know the reason why they are not supporting Facebook Libra coin, which I am sure that Facebook will be doing the same too, so it seems that there is going to be a very long battle between Facebook and the government.

In the aspect of Facebook, Government of the United State will be careful in the way they also handle Facebook case because they know how much this company has generated so much for the US, and one reasons why the other countries may even be fighting Facebook is because they might feel it is a plot from the United states to use the currency in retaining world’s power.

The government will always win. Though they have money, they can't live without paying their taxes and no escape from KYC these days and facebook, may look like its not but its also controlled by the government like big brother does. The governments can use facebook to monitor people who engages in crypto.


Binance is up to make money and dominate the crypto, if they can make money out of listing listing Libra, they will do it. Its a matter of time til we see more people and countries supporting Libra and get launched.

hmm.. it will be interesting, considering the most haters for LIBRA is came from USA, and now, coinbase itself support what the government hates.
however, as far i know, although US goverment hate them so much, they seems won't ban libra for sure.
i just think it seems Not a wise thing to do in an industry where the typical advantages of the US market.
moreover ,the coinbase's attitude in favor of libra makes the government must be more prudent in dealing with it.

Libra is not that big of an issue. In Asia there's a lot of payment platforms and stable coins. Having Libra is not going to hurt the market, it would help it by reducing the amount of people meaninglessly hoarding Bitcoin.

I'm not negative on this coin but i think it will be hard for them to push this coin
because facebook is in hot water until now, and they are the co author of this project
facebook must show the government that they can comply with the laws
of the government until they show it to them and convince that there is a transparency
and hacking and leaks of information will be stop, maybe the government will support this
project and there will be a soft and the people might also accept libra
but its easy to said than done, they might need to go through a needle with this project
good luck libra

It's like they wanted to show on the world how strong and influential they are. It's nearly impossible to have a full digital adoption of crypto and replace our traditional way of transaction such as fiat money. Every country will not agree, they have some cultural history with engraving stories on different paper bills and probably some or those people who arent technologically brief will not agree on this. One support from a famous person cannot outweigh lots of people.

Well , i wonder how it not to be big issues , its will be fully centralized from all of the world. its not just about asia bro. and also,what kind of people want to throw their btc for some stable assets.

It doesn't really matter what Coinbase CEO's think about the Libra cryptocurrency. I wouldn't take his words serious and I don't trust Facebook. If the launch of Libra will help crypto community, let it be, but I won't use neither this coin or Facebook without strongly necessity.

Let's admit it, Libra is having difficulties as they prepare to launch their coin, and they want all the help they need to combat the difficulties, and these top companies in Cryptocurrency are taking this opportunity to support libra coin so if ever it succeeds, they will strike a deal favorable for their companies, there's politics here.

I think that it won't happen because Libra is a crapcoin. Don't invest in it.

Its very obvious since Coinbase was one of the listed partner in Libra cryptocurrency development or just a plain participation. In the mean time enough for the speculation at the moment lets straight forward to the fact that Facebook's Libra will face hardships when it successfully launched because some European countries are againts it and i believe it will increase more in the following months.

It will just add on the hype and these giants doesnt really make significant impact on long term basis but at least they do give out some PR with crypto.
I dont see any competition yet Libra is heavily centralized in the beginning and you can even reverse transactions.How good was that?  ;D
Im sure that if Libra successfully launched and did well to the market for sure other big companies will do the same but i dont see for these things connect out on crypto space.

A. Pompliano, the biggest crypto influencer, is also positive about the idea of creating a coin by a technological giant - Facebook.
It brings enough credibility to the whole ecosystem.

I think the hatred from crypto circles comes from Libra being centralized and not a "real" crypto. But it's not even trying to achieve what other cryptos are building.
I totally understand a company point of view on this. People are listing tether because it brings in money, and it has a use case.
Libra could bring lots on unbanked people and money flow to Coinbase as well. Why wouldn't they list it?
 
Hatred from the government probably comes from the point that they have always wanted to control the money, and when people are constantly building systems that make way more sense then fiat-money, they probably are a bit jealous too.
They might would have wanted to build their own cryptocurrency but didn't take it as a serious threat to banks.

I think the Libra will be great news. And if it fails people start to wonder why bitcoin didn't fail, and move into that now that they are more familiar with the space and the learning curve to crypto looks way less scary.

Everyone who really believes that cryptocurrency will be the future and crypto is the real deal!
They will believe and support LIBRA.
 this is the solution for the lack of support from people.LIBRA is something due to facebook! this is a big deal!

No idea if Libra is indeed going to be that powerful. Social network is a one thing, cryptocurrency is more risky and threatening thing.

It's a stupid rhetorical question, and that simply won't happen.  It won't happen even if every facebook user adopts Libra as a currency.  Why?  The U.S. gov't, for one, does not allow anyone to create their own money.  States can't do it, organizations can't do it, and individuals can't.  It's against the law.  But if I'm correct in the U.S., cryptocurrencies are legally treated as assets rather than money, which is why bitcoin hasn't been regulated into the graveyard.

If Libra showed any signs of overthrowing the USD, you can be sure the gov't would step in with legislation to either regulate it or outright ban it.  That also would not bode well for any other crypto, so facebook should really be careful what it wishes for.