Bitcoin Forum

I don't think it's Bitcoin that they should be adopting at all. It's slow and Facebook will want some sort of control over it, with Bitcoin, they can't.

We've seen one of the Facebook blockchain devs (David Wong) singing Algorand's praises in recent weeks (not to mention interest amongst top banks too), maybe exploring their tech could be the way forward...

Who knows where this is going, I don't really think we need Libra to be honest. There's plenty of other platforms that make more sense and have already established a footing in the DeFi space (Algorand mentioned above, Ethereum/MakerDAO obviously).

Defintely not BTC, bitcoin is the OG that everyone respect but we all know he is too old to change, or too much effort to change. I support ETH, so as CEO of OKEX (http://okex.com) does.

What's different in creating new altcoin and adopting bitcoin? They're both cryptocurrencies, it's just Libra is centralized and Bitcoin is not. I don't see any reason for Facebook to adopt bitcoin, and they won't be successful either in my opinion. Facebook needs to address privacy issues first to launch Libra. But once passed, Facebook's userbase would flood it's market and there's a high chance of their success. But I don't think current crypto-enthusiasts and hodlers would be attracted.

It's basically every dream of a business or company that is associated with cryptocurrency to have their own currency. It is in fact evident that facebook is a very big and powerful company, if they can see the best benefit from bitcoin, it will in in their thoughts to create their own. It is their way on maximizing the profits that they can get. In addition, its their way to become the leading platform in cryptocurrency innovation.

Facebook wants to build their own crypto empire no chance that they will adopt Bitcoin, for over 10 years existence of Bitcoin they already knew the potential of cryptocurrency. For big a company like Facebook I think they are willing to take risk and compete with existing industries no matter what cost.

That's not gonna happen since the original plan of Libra is a stable coin, that's is to erase the price volatility and its centralized which is clearly the opposite of bitcoin. If they can't launch according to their plan, its better for them to just halt the plan project for the mean time and look for the right timing.

Although I see that its a great help of the crypto space since it will bring demand to BTC if they will adopt with bitcoin, but its just too unrealistic.

It's quite exciting to imagine what would happen to Bitcoin price if Facebook suddenly adopts Bitcoin as it's cryptocurrency. Trying not to get lost to greed and delusions of price appreciation, I'd imagine it would set the price of bitcoin above $20k++ USD.

That being said, I also agree that there are lots of other options and alternatives aside from Bitcoin. It needs to have fast transaction times so I'm thinking XRP could be a good candidate?

Hmm, very interesting proposal from the congressman. I think that it would be more profitable for all users to use Bitcoin inside the services of Facebook, Instagram and WhatsApp. Because Bitcoin is decentralized and control over the coins is completely in the hands of users. In Libra's case, all coins are somehow controlled by Facebook, because this payment system will be centralized. I think Mark Zuckerberg still wants to launch his Libra. But given the recent conflict between the government and Facebook over the launch of Libra, as well as the cessation of support for this project by the world's leading payment systems, I think both sides will find some compromise. We may even see that Facebook will support both its Libra and everyone's favorite Bitcoin.

Obviously, they won't that's why they created their own coin.


We really don't know what the future brings. Maybe Libra is the new face of crypto, maybe not. Or maybe US government really knows something about the plan of Mark Z. to take control of the financials that will make him one of the most powerful entity and that's why US is hell bent on stopping him.

Facebook would never use someone else's product. If they see something they want, they either buy them out and take it over, or else they build their own version and drive the original into the dirt. They can't take over Bitcoin, and they can't destroy it either, so they will never use it. they are 100% set on building a competitor.

It's not just crypto they are competing with, Facebook's basic aim is to take over the world. I expect they are going after the US dollar as much as they are going after Bitcoin.

I think if only adopting bitcoin won't make a good facebook platform because Facebook should be able to work with bitcoin and implement payments using bitcoin so that it will have a good impact on the price of bitcoin because it will increase bitcoin demand and will make bitcoin prices expensive because demand increases.

How could facebook even adopt it with how its system is made of? They specifically made Libra because of their want to create a new crypto or virthal currency while letting it stay under their management and control.
Plus, BTC wasn't even made by them. This basically seems like their advertising another product, when they had the ability to create one themselves.
Besides, the current state of Libra could be blamed into its infancy stages and it was facebooks first time entering the scene. No matter how big the company may be, it'd still face setbacks every now and then after all.

Same thoughts and come to think that they are big enough to do such gigantic moves.They are financially capable and when it comes to reputation and popularity then we do know
on whats the standing of Facebook on it.They would surely create their own rather than on following others works or invention.They wont adopt Bitcoin for sure
but lets see if their minds would be changed up they saw that their project is not been supported if ever if it would launched.

This.

Also - I wonder if there is still a rivalry between Zuckerberg and the Winklevoss twins. Zukerberg stole their social media idea. Now he seems miffed they got into bitcoin at $8 a coin, and wants to kill their project with a coin of his own.

Facebook is aiming towards giving people an alternate form of monetary system for easy and instant transfer of money through mobile. By his statement, congressman meant that Facebook can go on adopting Bitcoin as a payment method which will achieve the same results that theya re trying to achieve through Libra. The only difference will be that Bitcoin is decentralized whereas Libra was centralized. But for the exact same reason they are letting Libra to be launched. So, I guess this is a bad suggestion.

Are you sure about what the congress said? in terms of profits, they will benefit more if they receive Libra. I'm actually not sure what the US is thinking but adopting bitcoin is beneficial for users. The problem is manipulation of the market by whales.

I don't either, and OP it would be nice if you'd provide a link when making a thread that references some congressman's quote.  I don't have a clue what you're referring to here.

But hey, I think Libra will be useless and unnecessary--but that's only if it gets released, which I don't think it will.  I don't think the world is itching for another cryptocurrency, much less a stablecoin branded by Facebook.  That makes me want to stay far, far away from it.  Not that I use FB anyway, so it doesn't matter for me but I'm well aware of how popular they are and how many people willingly give away their privacy to them.  No doubt at least some of them would use Libra.  Why, I have no idea, but they would.

Does anyone know what Libra is supposed to be used for?  Is it for stuff like in-game purchases and the like or some other FB-related expenses?  I don't know what they're charging members for, but I do know that they offer games and things.  And frankly I don't see why crypto is necessary to pay for those things when fiat would work just as well. 

the point of facebook creating Libra is to generate profit out of it just like how all those stablecoins out there making their profit from every transaction it's such a nonsense for facebook to just adopt bitcoin it's basically the same as they are adopting other payment method like paypal into their system completely pointless.

The US feeling threatened because libra could potentially take advantage of their currency as reserve fund to go against their own into dominating the US economy even though it might just take up a little portion but a threat is a threat. The statement made above is just silly at best from the perspective of facebook as private company which seek profit.

Just one article, mentioning about the title of this thread.

https://www.forbes.com/sites/ktorpey/2019/10/24/this-us-congressman-thinks-bitcoin-will-have-enormous-value-and-utility-over-the-long-term/#cd88f1b278e1

https://i.ibb.co/S6JyjQN/Screen-Shot-2019-10-30-at-11-46-33-PM.png

We all know the ulterior motive why Libra is born, more profit from the FB team as JeffBrad12 already mentioned. And suggesting to use btc instead, I doubt they will accept such suggestion.

  I don't agree, with Facebook adopting Bitcoin and abandoning it'a Libra project because Libra is it' s own platform, one that Facebook can exhibit some bit of control over. For one, Bitcoin is a proof of work coin that acts as a store of value. Bitcoin's price swings violently and this kind of volatility would cause consumers to panic and abandon the idea. Imagine their Libra coin values dropping just a few dollars, a mass panic would ensue! I don't believe it is suitable enough for consumer adoption.
  Libra is backed by low volatility assets meaning the price will stay relatively the same, something consumers who use Facebook's various social networks can stand by. They already have a fully developed platform backed by big names (not if they pull out). The only thing that is stopping their progress from mass adoption is congress. I don't think congress is ready for what mass adoption entails.

They want control over the cryptocurrency of course, but it's a burden just to make all those endeavours to create Libra and fight with the US Congress and regulators.. If you are after the greater good of the society why don't you just support the Bitcoin adoption? Maybe they don't have the same opinion regarding fiat money, that it is garbage inflationary currency centralized and controlled by governments, plus it has no instrinsic value besides the debt and support of the govt. We need to find ways to bring BTC to the people and personally once I find some free time I will definitely do that.

I like this congressman. BTC price would certainly will moon if facebook adopt BTC but then of course they are not gonna do it since BTC is too decentralize for facebook to handle. By the looks of it, Facebook is not going to give up Libra. They'd find a way to get on with their plans, they have spend money already for this project and if it means accepting both adopting both BTC and Libra they will probably agreed.

That would make a lot of sense IF facebook would actually like to enable blockchain technology on their platform. But they just want to use the name, nothing more, their interests lie in making profit from currency they can control and monitor and this is why they want to make their own so called crypto.

Big companies wants to have control over their money and if they rely on bitcoin, its not possible for them to control it. If facebook really wants to create their own coin then they will do it despite of the pressure from their own government. Some big companies also planning to have their own coin and join the competition, maybe facebook can do that too.

Facebook is superior to their total members, libra will be accommodated very quickly. Other speculations like this won't change anything because Mark is famous for being tendentious with his own desires. Fb has an active trademark in the global trade exchange. It is impossible if they adopt something with a very unstable price then it will only make it collapse instantly, all global business people will also not agree if faced with the same situation.

Don't they just adopt the blockchain system only for their Libra? So how can they adopt Bitcoins which have already become king in cryptocurrency?
It's good if Libra is thought to ripen by adopting an earlier and refined project to be a popular stablecoin in the future.

This is the article that tells that
https://www.forbes.com/sites/ktorpey/2019/10/16/us-congressman-facebook-should-adopt-bitcoin-drop-libra-project/

I don't think Facebook is going to do that, they have no control on it's supply and they will have to spend more, small companies or even individual can create their own token, so why not Facebook, they have the means and can hire top notch coders, they can create a chain that is much better than other chain creator, the congressman is quick to call Libra Coin a shitcoin, when in fact this shitcoin can create a disruption, other shitcoin in the market can't do that.

Should facebook adopt bitcoin? He really has a problem in his mind. Facebook created Libra primarily to create an ecosystem and make a lot of money from users' P2P transactions. but now the US government forces them to use bitcoin. This is really a trick of the US government for Libra and Facebook. If the situation continues like this, I believe that Libra will be no more.

Facebook won't consider that. Facebook created the Libra project as their own. It is nearly impossible for Facebook to drop its project just to adopt bitcoin which is impossible for them to control. They already started their project and it is under their reach to the success, if only their government legalize using it, then maybe it is progressing right now.

Facebook look hate with bitcoin with not allowed promote bitcoin on their social media, Facebook owner want to make their own coin become competitor for bitcoin and move all bitcoin investor become Libra investor. They working still not corresponding what he wants because Libra still not have permission from united state government to allowed Libra could publish to investor and public.

I was looking to see a quote or a link to the source of where the US congressman made the statement before your own opinion, but none of that is happening which makes the title of the thread misleading.

The major undoing to Facebook Libra is nothing other than control and it will be difficult to convince the general populace that its not going to happen. AliPay has its own payment system but even though there could be some collaboration with other global companies, its manageable. What Libra wants to go on with is massive and should it be successful, I see taking over from national currencies because as these companies cuts across borders, so also will Libra and that is the fear of majority of governments and its official has against Facebook. On whether they should adopt bitcoin instead, time will tell...

Just a bunch of new innovations we don't much need. Either way it would be tough to have them in control over it. Besides small proportions of Facebook users are interested with crypto though they may use their platforms to introduce Libra. And in addition, they created Libra just because they Facebook cannot grasp bitcoin, I mean no one could. So there is no point of dropping their project just to adopt bitcoin.

Facebook wants to have libra as their own cryptocurrency so they will have the full control of it, unlike Bitcoin. If they would want to adopt Bitcoin then they should have done it before. What they really want is a coin which they could manipulate. The problem is, it's hard for them to gain the trust of most investors because most of them are into Bitcoin. However, it doesn't have any negative effect on Bitcoin. It's standing firm despite the existence of Facebook coin.

I don’t think that the creator of Facebook will abandon the idea of ​​his own cryptocurrency and agree to accept bitcoins, since a lot of effort and money has already been invested in Libra, because its development has been ongoing for almost two years. And he will continue to look for options for its launch, although it will not be easy for him.

Facebook should adopt none payment method, maybe it will be better to see social network with really a lot of opportunities, even with one which will let us easy transactions but at first facebook is something that we can't and won't trust in this case. A website that doesn't care about our privacy, how can that be trusted with payments? After our emotions and expressions, thoughts shared on facebook, they also want to know how we spend our money which is double win for them but in overall not good for us.
So at some point I agree with you, we don't need Libra. It's nothing special, no, even worse.

States have protectionist mentalities towards fiat currency monopolies they own & operate. They last thing a government wants is free market competition from tech giants like facebook forcing them to be more innovative, professional and proactive in their approach.

I still think facebook introducing libra would provide consumers with more options and force the US government to do a better job addressing the deficit and regulating inflation. Its a step in the right direction.

If our goal is to encourage governments around the world to take deficits and hyperinflation seriously, there may be no better option to achieve this than to set facebook's libra loose on the world, and hope the self correcting nature of free markets takes hold.

To my opinion in this case Facebook doesn't care too much what some congressman is saying. Facebook investet too much efforts and capacities into Libra to give up that easily, no matter that it hasn't made the success it was expected. So I expect that Facebook will try to save Libra no matter what and adopting Bitcoin is under very big questionmark.

In any case, Facebook has no other choice.  If Facebook wants to implement its project, then this project will be either with Bitcoin or this project will not exist at all.  I think this statement by the US government is an ultimatum and a real warning to the Libra development team.

If they have found that challenge in bitcoin, why don’t they all come together as a techy guys to run minds together on how they can make the speed of bitcoin to increase, just like some genius came up with the lightning network which has assisted bitcoin to an extent, if they keep coming up with different project, the market will be too saturated without much focus.

Facebook is thinking of their own Libra, other countries too is thinking of their own cryptocurrency also as we may see in the case of china, and some other countries that their proposal is along the way, so if you ask me, all those coin, where is the population to use them for one common goal. Bitcoin is slow, but then it can be made faster with some other ideas, and not diversifying again into these altcoins.

Facebook supports libra with great confidence, but this project is not in a body that can not be separated. Mark still seems to be pulling out if it's really not allowed.

The question is if finally libra is taken by a platform that is more friendly to regulations, then this will be a big loss for the government who rejects it. But I feel this will still continue until the agreement, and the statement is not like an ultimatum, but still in a bargaining position.

No links?
Here, I will help you out.
https://www.forbes.com/sites/ktorpey/2019/10/16/us-congressman-facebook-should-adopt-bitcoin-drop-libra-project/#5228fa3916b2
Next time complete it please.

This kind of adoption should have been happening even before.
Why do they keep on creating their own coin.
Why not absorb bitcoin into their usage for merchandise or even as payment option. It just sucks to see a lot of crypto currencies are being listed.
Bitcoin offered so much good but yet not enough?

We've got more than 3000 cryptocurrencies. Each were backed by different platforms and were designed to meet various requirements of the common people. Looking upon the same Facebook plans to make everything happen through them. As they're known to the world and consists of huge users it is easy for them to reach people with new additions. The same is happening with libra, already it is being fulfilled by bitcoin through the decentralized system. Now Facebook tends to keep everything under their control.

Remember how some months ago Trump bashed both Bitcoin and Libra in his tweets, and people were worried that Libra attracted negative attention towards Bitcoin? And look now, the opposite is happening - the Congress praises Bitcoin and tells Zuckerberg that Libra should be more like it. It would be extremely ironic if an invasive, power-hungry company called Facebook would become the reason why governments would warm up towards Bitcoin.

It could have been much easier if you had provided the link. Anyway, I was able to find it:

https://www.forbes.com/sites/ktorpey/2019/10/16/us-congressman-facebook-should-adopt-bitcoin-drop-libra-project/#3a73644f16b2

It was the Republican Congressman Warren Davidson who made that statement. He represents Ohio's 8th congressional district. Davidson had earlier termed Libra as a "Shitcoin". He is having some pretty valid questions about Libra. For example, check this:


And this is what he said about Bitcoin:


According to him, Libra is a centralized asset, as the central authority (Facebook?) will be able to manipulate its value. Bitcoin is decentralized, as something like that can never be done to it.

Well , you stated the obvious.  Facebook as a popular company and with strong backers, why would they use a cryptocurrency that I do not control?  Why would they spend millions of dollar when they can just create a better one with just a hundred dollar?  In a businessman's mind, creating an owned currency will not only save them from huge expenses but will also give them a huge amount of money.

in my opinion facebook won't adopt bitcoin. because they are different libra coins are stable money coins and later these coins will be controlled by facebook. whereas decentralized bitcoin no one controls and already has a large volume of trade and community. so I don't think Facebook will take over bitcoin. I'm sure Facebook will try hard to make the Libra project successful and will become a competitor of bitcoin. but I'm optimistic that bitcoin is still superior to libra.

It's adding popularity to this project. Libra being a crypto currency will be associated with Bitcoin, with that previous stand from the congress it can also be possible that they are now chilling around and working for any possibilities that this project will push thru. Mark's project is on the process there's still a lot of work and talk regarding to any possibilities of getting legalized.

But it's opening the door of crypto approval, not limited to Bitcoin or Libra but also those coins that have a useful platform to serve the needs of being a payment process alternatives.

It's not necessary for Facebook to adopt bitcoin actually. It's already successful even without cryptocurrency, whether Libra or Bitcoin. Though it's still up to the creator whether they're going to drop Libra or just continue and push that project. Libra didn't become that successful compare to what's expected. Even with that, they won't adopt bitcoin, because if they did, they just showed that Libra failed.

facebook is a company , a business and does not really differ from other businesses like banks and governments  . all of them have the same kind of mindset that they want to control btc but they cant just make happen so easily so they find other way  . they create projects like this and that  to make more profit and they have the full control over it . so why would they still adopt btc when they can adopt libra ?  but libra project is really continued ? i thought its over

How long Facebook Libra coin will playing their drama with delay to open coin for public? when the first time announce to public become very fantastic coin at the future right now Libra or Facebook coin make joke with playing their drama, only running on the same place without have progress how far their coin have input to public and when solid time the Libra or Facebook coin can invest by investor.

This is interesting.

The fact that a boycott of the Libra project creates a situation in which Bitcoin looks even more profitable.
This is wonderful because it has a good effect on the mass adaptation of cryptocurrencies, and also improves the attitude of ordinary people to bitcoin, increasing confidence in it.

It is not surprising that Libra is so heavily pinched because the project may become something that will change the rules of the game and its attitude to the dollar system.
Even if Libra comes out, it will come out under the dollar flag.

Can you link which congressman mentioned this? Personally I don't think Bitcoin is the best crypto for the purpose that Libra was being created. It's not exactly fast which is what most people want went doing purchases in these platforms.

I'd rather use a credit card than use Libra. Works good enough for my needs.

If that congressman thinks that they will take his advice, he is dreaming I'd like to think that this congressman is keeping Bitcoin because he is very bullish on it, that's not going to happen, if any guy can create their own Cryptocurrency Facebook deserves to create their own chain, they can create a better chain, and of course Facebook wants full control and own system of distribution, they do not want to be a part of the system, they are the creator of the system.

We can change and tweak this as much as we can but that doesn't change the main concept. Facebook should not make their own currency that would give them too much power and make people tied to facebook financially as well. Having their own currency would give facebook way too much power and it would make them super rich as well because people would be paying facebook constantly for it.

However, if facebook started to help people use another currency, it could be bitcoin or it could be anything else and also help them cash it out wherever then people would basically be loving it. It doesn't have to be bitcoin, it can be something smaller, ethereum, litecoin, hell it could be doge all I care but this just means facebook won't have that kind of power.

It is not about how friendly a project is to regulation, there is project that the government cannot regulate if they want to, if you think that they cannot regulate bitcoin, tell me why we are now clamoring for regulation the government and also asking the sec to approve etf, it is because we believe that regulation will somehow work for us.

Libra project is a project that will not be favorable for the government, if Libra really means good for the government, why did they not develop the project and then sell it to the government so that they can take ownership of it, the Libra coin is not like bitcoin that had passion for people, Libra is being created to make more money for fake book cooperation, because from everything they said in their paper, I see no usefulness of this project.

There is a deep reason behind it for sure.
But yes, it is impossible for Facebook to drop the Libra Project as easy as that. Facebook start that project and they are almost ready to launch the project. If they will drop it, they will only waste their own hard work to create and build Libra. Another thing, Facebook cannot control bitcoin that's why they will push the Libra project for sure.

The worst that could happen to this Libra Project is to be shelved for some time. Facebook will not allow the Libra Project to just die because the personalities in the government are against it. That sounds too shallow a reason for Mark Zuckerberg to call everything off and bid goodbye to Libra. Mark knows, as everybody else, that cryptocurrency is the future. He knows that the obstacles he and his project are facing are very temporary.

I don't think Facebook will adopt Bitcoin. because bitcoin is very volatile and also decentralized. while this Libra coin is a stable coin. and Facebook will not make libra coins fluctuate. because it is very risky. and can have an impact on the world economy because Facebook has 2.3 billion users. Facebook is a big, rich and strong company. Facebook will try hard so that the Libra project can be realized without adopting bitcoin.

It depends on them if they are willing to adopt it or not, if they think that it will be beneficial to them then maybe they will look forward on adopting it. Also, if they think bitcoin can give them opportunities and if they see its potentialities then probably its possible for them to acquire it Well you got a point that but the decision is still up to them, however they should look for the possible outcomes of their decision because it can have a positive or negative influence on Facebook.

I believe that in any case, the problem is the regulation and control of cryptocurrency.  Facebook wants to implement a project that will be independent of all regulatory authorities, including the state system.  Of course, this is not beneficial for the government.  But what will be the value of the Libra coin for users if the Facebook project does not provide real benefits.  If, for example, I am a businessman and will use cryptocurrency in my online store, then I will never sell goods for Libra, if later I can not sell this coin or provide a report on my activity regarding the use of this coin as a means of payment.

Facebook should drop own money idea otherwise it will be too powerfull

Definitely that's the case why some States refuse to accept libra as people are free to move their funds anytime, anywhere without additional fees like the traditional banking system.
It would be a better idea if libra could be implemented across the world as it will represent an advantage of cryptocurrency, although the value managed to be stable.

Republican Representative Warren Davidson should say this to all developers that want to create their own token or coin, blockchain is open-sourced these lawmakers should understand that every company and a big company like Facebook can adopt it and use it to create their own, let them create their own coin and just regulate on how they are going to use it, they are now making a lot of noise now, but quiet for a long time when a lot of developers in the past are scamming investors.

I really do not understand the point behind regulating bitcoin. Before I proceed any further, I would like to say that bitcoin has worked for us and still helping the intelligent investors in its own free way. It does not need to find some way to work. Moreover, nobody who like economic control does not support this idea of regulation. As far as Libra case goes, no one provided clear points but indeed government is planning something.

It's funny to see how congressmen who are not experts in blockchain and cryptocurrencies recommend that the project adapt Bitcoin and leave the space that the Libra project is trying to occupy.
This is a very tricky and recently-sighted move, saying that Congress really does not want the project to be published. So he really can change something. For such a piece of the pie a whole battle unfolded.

They should not neither drop libra nor adopt bitcoin. First thing first is that they need to address issues with regards with Facebook users privacy, there were some issues arising within that. Second thing is that Bitcoin is something unreal to control. Third thing is that they should be enhancing Libra about the possibilities of illicit transactions so that they can deploy it. It might as well solve their problem they don't need to abrupt shifting on adopting bitcoin right away.

To tell the truth, they don't care. Facebook is having more than two billion users and there is no immediate danger to their business model. Even if a few users delete their Facebook profile, it is not really going to impact their revenue figures (as evident from the latest profit calculations released by them last week). But I would never expect them to adopt Bitcoin, as Facebook is not going to profit out of it. 

That’s very sorry news for FB, their wish of having an independent crypto empire is rejected, humbled, and application on hold for TBA, then finally distorted into adopting to the enemy that they once want to ban it so badly that they simply deleted, removed, permaban any user who try to promote it on their platform.

I agree if Facebook have adopt bitcoin and keep away to make Libra coin, Facebook team have working more than three moths how to release their Facebook coin called Libra, until today difficult permission from United State make Libra coin still not open for investor and public, they still try to make US government believe with Libra coin become better currency for the future.

I want to believe that the regulation of bitcoin that everyone is referring to is to regulate some of the activities that is surrounding it and not to regulate the technology itself because it will be impossible for the government to do so, but regulating bitcoin means that they will be able to establish a bod that will overseas all the activities of exchange that are involved in the exchange of bitcoin, so that it can be free of scammers.
 
All these regulations we are talking of is just to either allow or disallow a project and also constantly be looking at the projects that is being released on those exchanges as the case of Libra. They are having problem because government has seen that its use will be of a very big disaster to the economy which even regulating it may not work.

They really need to adopt bitcoin, but they may create their own cryptocurrency, that's what every company does. I wasn't a fan of the Libra coin, but I started to get interested in it when I saw a lot of organisations joining the Libra association. I had a thought that it's going to be a big a project if it was successfully launched, but unfortunately for them it seems like it's getting canceled and a lot of the organisation that joined the association have withdrawn themselves and it seems Facebook is dropping Libra according to the latest news I saw about it.

I think the reason why a lot of people hated the libra is because it is a centralized coin and not like Bitcoin which is decentralized. And also Facebook is a big company and has a big audience, imagine if the project was successful.

You don’t think we need Libra? We? The Libra thing is not necessarily meant to favour you, it is to favour them: Facebook. Facebook is in on things for business, and they will look for ways to ensure they have control over their business.

Facebook is simply breaking into the crypto world by securing land where they can build stuff, and not rent on someone’s house. They want to be more independent.