Print Page - I'm a Big Fan of Bitcoin, Libra's Chief David Marcus Says

Damage control on the part of Libra?

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During a recent interview to CNBC, a Libra’s co-creator, David Marcus, said that he is a great fan of Bitcoin. Still, he admitted that Libra is going to bear no similarities to it, since BTC is highly volatile.

On the other hand, he admits that if Libra were not backed by fiat currencies, it would not have faced so much resistance from global regulators.

https://u.today/im-a-big-fan-of-bitcoin-libras-chief-david-marcus-says

So he really knows that their back is against the wall here with so many regulators against it.

Anyways, let move on, is Libra goes live next year then so be it. But I'm sure the consensus has spoken that we don't like it.

I wouldn't say its damage control, damage has been done and it is beyond repair, most of it's big partners opt to drop out from doing business with them meaning some internal rift has been happening before their released. And this kind of statement won't affect them positively in any form.

Perhaps this is David Marcus, personally opinion and should not be reflective of Libra. It's going to be a uphill battle for them so let's see how they are going to face this backlash.

Salvation isn't likely for Libra anytime sooner, knowing that they have already generated enough negative press to keep some of their investors/partners to back out of the partnership and start somewhere else. The public's perception regarding Libra isn't going to change too, for they know that a cryptocurrency is something far from the constraints of centralization and no central body manipulates it in any way, Besides, if the major players in the partnership has already dropped out of the deal, why would the masses still believe knowing that there is something happening behind the scenes that could turn awry for Libra?

Quote from: Yaunfitda on October 16, 2019, 02:01:23 PM

Damage control on the part of Libra?

So he really knows that their back is against the wall here with so many regulators against it.

Anyways, let move on, is Libra goes live next year then so be it. But I'm sure the consensus has spoken that we don't like it.

A simple research on this man will reveal that he is actually a known Bitcoin believer even before he worked with Mark Zuckerberg and eventually Libra. So even though some may "hate" the man for his wide involvement with Libra, we could not take out the fact that he was and maybe still is a big fan of Bitcoin. In the first place, there can never be a Libra (or any other altcoin for that matter) today had there been no pioneering efforts done by the people behind Bitcoin.

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David Marcus (https://cointelegraph.com/news/who-is-david-marcus-bitcoin-believer-turned-facebooks-libra-boss) is actually considered as one of the first top Silicon Valley executives to adopt and support bitcoin. In 2013, at the LeWeb conference in Paris, Marcus stated the fact that he is a big fan of bitcoin and owns a stash of it. He called bitcoin a store of value and a distributed ledger. Getting this type of support back in 2013 was pretty exciting and we can tell that David has a sense when it comes to blockchain and cryptocurrencies in particular.”

“Digital Gold,” a book authored by journalist Nathaniel Popper, mentions Marcus alongside the founders of the Gemini digital currency exchange (i.e., Cameron and Tyler Winkelvoss), co-chairman of Fortress Investment Group Peter Briger, and entrepreneur Wences Casares as high-profile technology executives invested in Bitcoin since at least 2013.

haha, i am loving the shitshow known as Libra so much lately. this last one is the funniest of all.
basically when Libra started they never even remotely mentioned the starter of all this and the biggest (by far) cryptocrurency, bitcoin. not on their website introducing Libra, not in their talks, not anywhere else.
people kept comparing them like idiots but the owners never did mention it.

now that it is falling apart, and every one of their partners (specially the big ones) are pulling out they are desperately seeking attention and are doing what all the shitcoins do: stick themselves to bitcoin to try and get some hype in name only.

Quote from: Yaunfitda on October 16, 2019, 02:01:23 PM

Damage control on the part of Libra?

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i mean he would kinda HAVE to be a fan of BTC in order to place to much risk on copying its tech, no?
seems like hes trying to legitimize his own cash grab by dragging BTC into it with those words lol
but i agree, fuck libra, time will tell where it lands tho, give it a month or 3 :) maybe just hype campaign ye

Quote from: Yaunfitda on October 16, 2019, 02:01:23 PM

Damage control on the part of Libra?

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He have always admitted his fascination of bitcoin and has clearly said that Libra is in no way is a competitor to Bitcoin. They want to create a universally accepted legal crypto currency. They want to be a pioneer of new generation of crypto led by companies. Governments are hostile to it as it aims to challenge the fiat rule.

anyone who tries to be part in the crypto are always a fan of btc. the project they are creating however isn't that inline with decentralization, facebook is company and of course we can't expect them to have a decentralized project.

Quote from: cichaescut on October 16, 2019, 02:17:23 PM

Libra would be released sooner or later. In my opinion they are too big to fail and they would find somebody that would answer all the questions about regulations and is able to deal with SEC. It is only the matter of time.

exactly what I thought so SEC just need a lot of money and probably the government want to work side by side with them. a lot won't like it but its their business anymore.

The libra is now under attack, regulators are crushing it from all sides, it is obvious that its leaders, in particular David, will use all possible means to stay afloat. The fact that Libra announced about 1,500 companies wishing to join it causes me doubts. Perhaps David is really a fan of bitcoin, but in his case I do not see any other ways than to find support from the crypto community.

Quote from: Jating on October 16, 2019, 02:08:52 PM

Yeah, those dropouts do not bode well for Libra at all and I think the project is just about as good as dead at this stage.

He is probably being truthful about being a fan of bitcoin, and I've no doubt that many of the facebook staff feel similarly, else why would they bother coming up with the idea to create Libra? It seems obvious that they think there's something special about cryptocurrency. Marcus is also correct about the stable coin aspect of why he thinks the regulators are giving them a hard time. The gov't doesn't have any problem with new altcoins being created as long as their value moves according to what the market dictates. But when a corporation is trying to create a new form of money that's based on fiat...yeah, that's a problem in the gov'ts eyes.

Quote from: Yaunfitda on October 16, 2019, 02:01:23 PM

Damage control on the part of Libra?

I don't think that this could be considered as 'Damage Control.' It's more of saying that the CEO is a big fan of bitcoin. It does not speak on the whole Libra thing. Although what happened with Libra was so damaging. Imagine, you have a project that is backed by many and big backers and then those backers of yours backed from you. With regards with the fan of bitcoin thing, this will not affect Libra project at all. It's just a statement from their CEO.

Quote from: electronicash on October 16, 2019, 03:32:05 PM

exactly what I thought so SEC just need a lot of money and probably the government want to work side by side with them. a lot won't like it but its their business anymore.

The SEC doesn't need money---there is a deeper incentive to block any attempt of Libra to gain ground based on how much of a threat it forms to the financial system, and let me tell you, it forms one heck of a threat.

I would even dare to say that Libra forms more of a threat to the financial system than Bitcoin will in its existence. It's simple impossible to ignore how powerful a company with billions of members are to potentially use a new form of money.

Of course, Mr. Marcus must have liked bitcoin before he and facebook then decide to create their own altcoin called Facebook Libra. Facebook Libra is facing many challenges right now from all over the world from governments (e.g. the United States), organizations (e.g. World Bank), and agencies (e.g. SEC). Libra major backers now want out challenges facing the project such as PayPal, eBay, VISA, and Mastercard.

Quote from: Yaunfitda on October 16, 2019, 02:01:23 PM

Damage control on the part of Libra?

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Of course, we don't like it for now, because we haven't seen the impact that it's going to create, many hate Ripple but it's in the third spot, those who hate Libra are very open and vocal about their stance, and don't who wants to buy and support it are just waiting quietly
it has become a waiting game for all of us those who don't want it and those who wants to buy and hodl.

Quote from: spadormie on October 16, 2019, 03:57:20 PM

Quote from: Yaunfitda on October 16, 2019, 02:01:23 PM

Damage control on the part of Libra?

It could be damage control if he thought that regulators are more wlecoming of decentralized crypto like Bitcoin, rather than centralized private coin like Libra. This could stem from those Senate hearing when Libra was compared to Bitcoin. It's interesting to see Bitcoin being used as a benchmark by people who understand very little about cryptocurrency, I guess you just can't ignore that it is the original cryptocurrency with huge share of the market and good reputation in terms of safety.

Thank you David Marcus.

And please feel free to get back your own business which is STEALING USERS PERSONAL DATA AND SELL THEM TO THIRD PARTIES. Sorry for caps. I think Libra's coordinators think they can collect sympathy with this kind of rhetoric. But we have some very bad news for them. They're dealing with the wrong guys. Blockchain and the crypto world are made up of intelligent people. And we don't want to see any more crooks and Bloodsuckers.

Libra, please, stay away from the blockchain.

Quote from: crazy-pilot on October 16, 2019, 05:04:16 PM

I think Libra will never succeed. The battle between the government of the country and Zuckerberg, obviously who will win. However, there is little chance that Libra will succeed. Let's just see what happens next.

Libra coin project might be failed but in my point of you I believe this project will be e successful for sure because most of the traders and investors are waiting to invest on such a big project like Libra.
Hence failure of this project is very less, maximum it will reach the success for sure.

Quote from: crazy-pilot on October 16, 2019, 05:04:16 PM

What do you think could be the possible way for Libra to succeed if they are facing quite of a problem with SEC, gov't and its backers?

Quote from: hatshepsut93 on October 16, 2019, 05:11:46 PM

Quote from: spadormie on October 16, 2019, 03:57:20 PM

Yeah, I heard of the news about the senate hearing. I thought that this could be a stupid moment and a meme-possible event again because of what happened with the congress and Facebook problem. Luckily, at least even the senate could see what bitcoin is all about and perhaps do investment on it or give a platform on their work as a person in the government for the fruitfulness of it. By for example, giving people knowledge in cryptocurrency.

Quote from: Herbert2020 on October 16, 2019, 03:19:27 PM

Isn't it ironic, LOL, that's why crypto enthusiast attacks them because they don't about Bitcoin or even acknowledge them so to speak. Doesn't take away anything from David Marcus, maybe we can call him a bitcoin pioneer here, but what's odd is his statement, I mean the timing so obviously there's some meaning behind him saying that. So their could be marketing ploy behind this, and try to grab the attention that they are bitcoin enthusiast (really?) so that they can still salvage some reputation because their big partners are pulling the plug at this point, wherein it hasn't been released and yet those dropping out like hot potatoes.

Quote from: crazy-pilot on October 16, 2019, 05:04:16 PM

The pressure is high for them so it will be a big challenge for Libra to succeed. Well, they have to love bitcoin or else the whole crypto community will hate them, let’s just see if they will push through for a centralized coin next year or not. We still need this kind of adoption and they are big companies that can help crypto community.

Quote from: TaliskerDarkStorm on October 16, 2019, 05:14:38 PM

Libra may not be the best of news but It's one of the things we've being hoping to come to the space. Despite the fact that they're facing heavy scrutiny from from regulatory bodies and some of the founding members like PayPal and Mastercard has left. Despite all these, Libra is the best thing that has happened to the crypto space. When launched, we should be expecting to see a high influx of new users in the space. New money is coming guys just like we always wanted.

Quote from: nelson4lov on October 16, 2019, 10:06:24 PM

Quote from: TaliskerDarkStorm on October 16, 2019, 05:14:38 PM

Definitely not the best thing happened but could somehow adds more users however if Libra is really released I doubt that people will learn more about crypto because Libra is a stablecoin anyway and I'm pretty sure that Libra will just works like any stablecoin out there or will just act as a payment method just like any other centralized e-money out there.
By the way even if the Chief is saying he's a fan of bitcoin it actually has nothing to do with the project isn't it? the regulation backlash is too strong that I think Libra might failed miserably because it's just crumbling slowly right now.

Quote from: Yaunfitda on October 16, 2019, 02:01:23 PM

Damage control on the part of Libra?

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A US Senator suggested that Facebook should rather use bitcoin to serve its ecosystem rather than launching a coin. I quite agree with him and wonder why every developer building its startup on blockchain cannot tokenise its services and ecosystem using bitcoin or other existing proven coins like stellar lumens or Ethereum if not for humans insatiable greed. The biggest exchanges in cryptocurrency including Coinbase and Kraken doesn't have a coin to its name yet they are leading the industry and setting standards.

Quote from: Herbert2020 on October 16, 2019, 03:19:27 PM

Haha, who wouldn't love this shitshow? Libra has been huggin' the limelight lately because of partners getting out before it blows out of proportion. But this one is the best so far. ;D

Quote from: TaliskerDarkStorm on October 16, 2019, 05:14:38 PM

I can sense so much hate on you, my young Padawan. ;D

Quote from: finzyoj on October 16, 2019, 11:50:31 PM

Are they already conceding defeat? For me it was because Lobra's co creator told on his statement that he is aware of regulators'/our resistance but didn't add details on how they gonna make a solution for it. I think there is a chance for Libra to really get shut down because of this current happenings or if not then I guess only few will support it and still die as time passes.

Not by a long shot buddy, Remember that they have billions in funds + those who choose to stay with them. There's no solution when regulators come knocking at your door, it's either you stop your project and give in to the demands, simply as that.

Quote from: jajorforce on October 16, 2019, 10:23:12 PM

Libra doesn't have good reputation even before launch their coin. Although we should know that for big something always has obstacle. I'm also big fan of Bitcoin, where Libra could be a good coin.

The problem with them is that they have been precedent in the past about how they handled the data of their customers and this raises some eye brows on governments around the world when they decided to jump on cryptocurrency with this Libra coin.

Nothing against Marcus, maybe he really thought about this before he open his mouth. He is definitely admirer of bitcoin, but him being Libra's top head cast a lot of doubt as well with his recent statement.

Quote from: Ajibola123 on November 12, 2019, 04:32:02 AM

To be honest, nobody isn't a fan of bitcoin, the mother of crypto and the first of it kind, bitcoin will always remain the biggest and nothing can change that, some altcoins are also good but everybody loves bitcoin. still anticipating for Libra though.

What makes you say that?

I am a fan of bitcoin! Yes, some altcoins like ETH or Dash are also good but they couldn't reach the height that bitcoin has reached so far! The idea of blockchain was first implemented in bitcoin. Then the developers from around the world starter creating their own cryptos by tweaking the original idea of blockchain and bitcoin!

Libra is not a cryptocurrency! They are backed by fiat and doesn't offer privacy similar to any other cryptos! Libra is not even in the same league as cryptos!

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