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Hello, I was wondering if investing in facebook libra when it comes out would not be a great idea for a quick profit. What do you think ?

We don't know enough about the finer details to give credible judgment on this yet.

From what we do know and the amount of companies, partners and government agencies that have either jumped ship or attempted to make FaceBook's life very difficult when it comes to this, I seriously doubt it will hit the ground running.

It wouldn't even surprise me if they were to withdraw or cancel the plans for the project.

Even if it launches, how exactly would you get profits from it? You might as well invest in usdt, because Libra is designed to be more stable then that. Unless you are hosting a node, this project is not designed to be a speculative or volatile asset.

Exactly, people have misunderstood the project, they thought its the same project in ICO and IEO where the value will grow as the project earn success in the long run. Maybe if they have investor, it is coming from the private and rich investors, probably their partners as well.

I think it will pump for sure, all the big name coins tend to. unless its a stablecoin, which would suk (i heard it might be)
Hopefully its a free market price, oh man who knows how many presale coins they would sell to angels tho, i fear the public would get dumped on after as such :(
time will tell! the SEC dosent seem like they want libra to happen anyways :P :P

I was under the impression this was going to be a stable coin. Did something different come to light? If it's a stable coin, there's no point in investing in it. It's called a stable coin for a reason. The price will remain stable. As soon as they mentioned it was a stable coin and the fact that Facebook was involved with it, I just kind of forgot about it and moved on. Doesn't really bring anything new to the table. Even a lot of the companies that were invested in it have backed out.

well another newbie that promoting Libra?since the news subsides already about this facebook coin?anyway you can just put your money if you want no one is forcing you to do so.
but if this is a good investments?after issues facing by this?i don't think this is a good idea to try for.

Profit for what?
I'm also thinking the same, Libra is a known stable coin base on their announcement. I don't see any point on it looking to get profit on it unless you'll trade and there will be a pair showing Bitcoin/USD or Bitcoin/Libra.

I would advise to stay well away from Libra. As others have said, the idea was for it to be a stablecoin, so it's not like it would increase in value.
Far more importantly however, I think it is a good idea to stay well away from Facebook. Their business model is surveillance capitalism; the old adage that "if it's free, then you're the product" is absolutely true in this case. Facebook makes money from your behavioural data. Firstly they sell it on to other companies for advertising, but secondly and more insidiously they use it for behavioural profiling and to predict (and indeed influence) your future actions. Libra is the next step - if you buy things with Libra, you are giving Facebook your purchase history, too.

This isn't just scaremongering, take a look at this warning (https://www.amnesty.org/en/latest/news/2019/11/google-facebook-surveillance-privacy/) from Amnesty International, or read the excellent "The Age of Surveillance Capitalism" by Shoshana Zuboff.

This should be pretty obvious just based off of who is coming out with this coin. Facebook isn't exactly known for their security of your privacy.. This is one of the reasons I completely wrote this coin off. Couple that with the fact that they said it was going to be a stable coin and what exactly is the point? I'm not going to give up all of my user data to a company that probably already knows more about me than they should for a coin that is going to be pegged to the USD.

Should be, yes. It's obvious to me, it's obvious to you, but literally billions of people use FB and love it. I suspect many will use Libra purely because of ease of use through its integration with the platform. Thankfully this project has kicked up a lot of opposition from the powers that be, and so is at least momentarily derailed... but I suspect it will eventually go live; FB is not known for giving up.

Whilst the vampiric sucking out of personal data is one aim, I suspect another is that the USD will eventually be pegged to Libra, rather than the other way around. Facebook is not known for thinking small.

Libra is not investment place that is one thing you should know. Did you see how USDT price movement, or another stable coins? You have to see them. It would be great if you store your money on bank account and it will be safe rather you store your money on libra.I will be prefer to choose bitcoin or another altcoins like ethereum or litecoin as my investment place. It seems like I will get a lot of profit from them.

Quick profit ? From the beginning libra was designed to be a stable coin, and I heard there was a problem with government regulations there about the launch of this project

How can you make profit through a stable coin? Think about it and you'll realize that quick profit is not possible when you invest in this coin.

Plus there's no such quick profit in crypto even when you invest in other coins like bitcoin. Patience are needed here, it takes time before you can earn.

First, you cannot invest in a stablecoin. A stablecoin has a stable value so even if you hodl that investment of yours for 10 decades, its value will not increase. Second, Libra is not yet a project or a coin that will be launched soon. It will take a lot more time. Third, if you are not going to use it as a currency, it is not worth anything.

it looks like the project is only for a commodity where payments and other transactions will be good for using this coin, don't know what will happen later because i feel each coin does have a specific purpose for something that might make it easier for customers

that's it mate this is not for investing better choose cheap currency in top 100 than Libra.and i am not sure if this one will reach the top because no because Facebook is popular means their coin will become more popular also because for me this will take time to prove its value and how reliable to be trusted investors money.
lol that is why there are altcoin because they have own purpose of creation.

You are right, this project is constrained by regulations that are applied by their countries. of course, the team must be serious in overcoming this problem if they don't want to lose a good moment in the condition of the crypto market this year. Moreover, there have been many media that aired about this crypto libra. Hopefully, Libracoin can enliven the crypto market even as a stable asset.

Buying 1000 worth holding it for, say 20 years getting exactly 1000 back (minus trading fees) and have massive value loss in form of inflation is investment opportunity of a lifetime. :D

Lets assume every year 2.2% inflation (official average) how much value is lost in just 20 years
After 20 years the 1000 in the hand have a purchasing power of 640,88
     1000,00
1   978,00
2   956,48
3   935,44
4   914,86
5   894,73
6   875,05
7   855,80
8   836,97
9   818,56
10   800,55
11   782,94
12   765,71
13   748,87
14   732,39
15   716,28
16   700,52
17   685,11
18   670,04
19   655,30
20   640,88
https://www.usinflationcalculator.com/

I suppose, technically, you can make money from holding a stablecoin if the coin it is pegged to is rising in value against your native currency. But realistically there isn't going to be much movement unless something catastrophic is happening in your own economy.

... but you should avoid Libra for the reasons I gave above.

I don't think so

Im willing to give you a small explanation about that and there are some points that you must know about libra

1. Libra is not an investment purpose and it's just another stable coin that is the same as USDT, USDC and other stable coins which pegged to the fiat money as a commodity that brings it the stable value and removes the volatility
2. It will be used as a daily payment system. In my opinion, if this will be used in your daily life such as pay your bill, food, shopping, etc (when you are wanna using the service in the facebook platform and it may become the main payment method)

3. Libra is not a cryptocurrency and it's much more as a digital currency just like fiat digital currency that will be issued by the government in the future.

Based on the information I heard, Libra coin is a Stable Coin.. so if you expect big profits in a short time, I don't think that will happen.
if you want to make a quick profit, you can choose to invest in Bitcoin, Bitcoin Cash, Dash or other cryptocurrencies that have high fluctuations.

I think to get a quick profit Libra is not a suitable coin but maybe you can choose Bitcoin to make a quick profit. while this Libra coin has still not yet been launched and we still don't know the performance of this coin. i think for now you better choose to invest in Bitcoin before Libra is launched because Bitcoin is more suitable for long or short term investments than Libra.

I think every coin is good for quick profits because there must be a time that the coins is pumped by the whales and if we're knowing when the time is coming we could get profits. But for a long time i think it's not really good because the project itself is not really supported by the facebook.

Are you suggesting that this person should invest in Libra, a stable coin, because the whales will pump up the price and he will make profit? That's just no how any of this works. This coin is going to be more centered around buying into it during an all time high as a store of value in order to buy back in at a lower price. It's not something you can expect to make any profit off of by investing into it. It's going to be a stable coin. That is, if they don't cancel the failed project.

The Facebook libra coin has been embattled for a long time, and I wouldn't want to join the project until I'm certain that the government is in support of the project. I personally won't rush into the project upon launch or invest a very small amount.

i certainly buy Libra because i think there is part of this that will have a good future since this is backed up by Facebook.
having this Big company backing up?sure Libra is a safer currency to hold like for long year since i am ready for long term holding currencies and i have been waiting for this one in years though there are some complications from Trump government yet i want it to have.
i agreed on someone hating libra or doubting this but me?i am not lol.

That if Libra is still open for sale once its launch, they don't need our money anymore, they are a big business so they can fund this project with their resources, so you can't buy and expect to get profit because most probably if we will buy, we will just use it for online transaction.

The libra project is taking a long time to launch. It's been over 9 months since we heard about the project and they have been several set backs and battles with the United States government. I actually don't know what is going on presently, but I don't see the project getting the support of the government.

Every single time in the past when a company made the own money it was shut down, it was just a matter of time. If not there is instand red flags all over the place.
Secondary Facebook has people banned form there side, that is a absolute no-no everyone has a right to have money. Banning people to have money is not a realistic place to be.

Although we have heard that Libra is a stable and regulated coin but right now, it hasn't been released yet, how stable libra will be is still a mystery, if libra is really stable like usdt or fiat, it will definitely not bring about quick returns and investing in it will only provide the highest level of security. However, its stability here is about steady and slow development, Libra can be placed on the investment list when the facebook group and sponsors are not small, they will probably stimulate people's demand

From what I have heard so far, it will be a stablecoin, you can't "invest" into a stablecoin. What you may never know and should have learned by now is that, it will be kinda like "1 libra= 1 dollars" so all in all no matter how much libra you buy, it will never go up.

However, it is of course a good idea to have as much of it as possible when it first comes out and then promote it everywhere you go, try to ask people if they accept libra, ask online places if they will have option of payment in libra, basically promote it for mass adoption. If you do that and Libra gets adopted by a lot of people, you will realize that bitcoin and all other coins will go up as well because libra being used means there is a bigger door opened to public from the door libra opened.

Libra coin is their biggest and first venture in the Cryptocurrency, they will do everything to make it a huge success, because they are not only competing with Bitcoin, they are also competing with China and since they have the means and the resources they can make it into the top 10 in a short period of time.

haven't heard any news about the libra coin since it was announced. for me its a no for investment, id rather invest in other altcoins than with this one

I think it would be better to wait of what would be the decision of the majority. But for me I wouldn't want to expect too much from it because I can feel what is really going to happen if I expect too much from it just like what did happen to the bakkt that is too hype up yet it turns out that it has nothing that much to do with the market.

libra is still in the process of hearing and the opportunity of establishment is gradually becoming more fragile.  You know, the parliament is very fierce in investigating Libra's business issues, it's related to money laundering actions, so it needs a closer investigation.  Therefore, if Libra is established, it will most likely not work best because it will be strictly controlled by the government.  so investing in libra is no longer a good idea now, government control will make it worse.  You should use money to invest in top alts or bitcoins.  it will bring you safe profits instead of investing in such risky projects.

Libra will be stable (in case it will be launched). So at least you won't loose your funds.

As far as I remember some big companies pull out being part of the project when Mark Zuckerberg had an issue in the government congress?

Is Libra still on progress? 

Some members like VISA have been going out from the callibra association that caused by there were a lot of uncertainties with the regulation approval by some countries especially USA that the majority of bankers and regulators have become the opposite thing for callibra. They were not giving approval for callibra development to be operated in US. Some EU countries were also banning it too.
Last week vodafone was leaving facebook callibra association too
https://cointelegraph.com/news/british-telecoms-giant-latest-member-to-bail-on-libra-association

Yes it is, You can check it directly here https://developers.libra.org/

Big company maybe against Libra but they can't do anything about the fate of Libra since they are not in control.
In a world of business, only the government regulate the company and therefore they are the ones who are in control, whether to approve or to deny.

I haven't enough idea about Facebook's Libra cryptocurrency, but I heard it will be a stable coin and Libra can be used to purchase facebook's services! If it is true then I don't think investing in Libra will be profitable! But if it is not a stable coin, then yes, investing in Libra coin will turn into huge profit for sure. Because Facebook is the largest social network ever, they have millions of active users, so, the hype, price everything will be high for Libra coin!

I hope they will comeback soon enough when they realize Libra may actually still work, the other possibility scares me. Think about it, one company is trying to build a stablecoin and the government is against it, and this is a company that is as big as Facebook yet they are not letting it be, meanwhile people are using USDT or USDC or whatever like nothing is going on.

If you think they are not allowing Libra to exist and work properly, do you really think they allowed tether to exist at the same time?

If they didn't allowed Libra that means they are not allowing Tether neither yet people do not realize this and use Tether like its something very legit and works according to law, that is not the deal here at all, they are very illegal and very against the law.

 Liberty reserve (https://en.wikipedia.org/wiki/Liberty_Reserve) was operating for 12 years before being shut down.

Also shut down
https://en.wikipedia.org/wiki/Liberty_dollar_(private_currency)
and every other private currency in the past

The question is, do this project would able to make it through? There were lots of issues towards Libra project which been highly opposed nor blocked by government.

When we do talk about profitability or quick money then its on high chance because this project will surely be hyped yet we know on how popular facebook is worldwide.
So no doubt on the adoption and demand.For making money then it will vary or depend on how early you to able to get in.

i may be missing something but .. wasn't Libra supposed to be a stable coin??

yes it is a stable coin mate,and also  backed up by FaceBook.
you are not missing anything buddy.

it won't be blocked knowing how popular FaceBook is?of course they will sort then issue before the launch.but profitable?i don't think so since this is stable currency.

You have to remember that Facebook made a lot of people angry in the US when they practically stole people's data and sold it to make money, and some people still blame them for making the elections happen the way it did (even though I think Trump would have won anyway).

I think everyone should be working hard to stop corporate powers from being even more powerful so Libra getting killed should be good news for us all.

I am not sure I would agree with you, AFAIK, facebook is not the one stealing data, that's according to the news.
Facebook says 14m accounts had personal data stolen in recent breach (https://www.theguardian.com/technology/2018/oct/12/facebook-data-breach-personal-information-hackers)

It was basically a breach that hackers have access their data and they also needs to be liable for that, not for stealing but for not putting a high security to protect the system effectively from any possible attack.

Once they launch, it might be a good source for quick profit because a lot of people are thinking that libra coin would have a massive pump once they are launched but I do not think this might be the case. Libra coins have some properties which are somewhat opposite than a decentralized cryptocurrency which might make Libra a stable coin which would only move few cents in daily or weekly charts. This might not give any benefits for the traders and hence traders might move onto some other coin for investments.

Libra would be a good coin to invest if you think about long term because in coming times, facebook would strongly promote their coin which would bring a lot of attention from investors globally which might make a good price pump in the coming times. Surely, you would need to wait for some long time in order to see profits from the libra coin.

so i will stay away from libra. i think it's good if something mainstream is added but facebook and consortia have enough influence on the current world in my opinion.
that doesn't need to be strengthened. ;)

Libra coin would actually be good for the people who carry forward their advertisements over facebook. They can easily pay for such advertisements with libra coin and hence they might seem using libra more suitable for them. I think this is the major reason behind why facebook is launching it's own coin. They want a payment method to support their internal financial monetary affairs and libra coin would be a best selection in this case.

Investing in Libra would not be beneficial for us as traders but for those who want to gain benefits from the most grown platform like facebook by promoting their products/services onto the network would surely find it beneficial.

You said that big company against libra but the fact if the majority if big companies are still supporting libra through its alliance and how you can say if those companies are against libra right now?
Libra is fully controlled by Facebook and the problem is regulation is feeling worried of the financial sector in any countries can be controlled by the major companies like facebook through use its domination to create a new payment system that can be threated the traditional payment system that has already made by the bankers and government.

You must know the real problem that faced by libra is about the approval from the potential countries.

For quick profit., Yes.. but for long term aspect then it would be a gamble because you wouldnt know if this one would succeed or would be just good on initial aspect
but if this one would be majorly used by fb platform then this would succeed and make money to those who early invested but this would really be like a gamble.
If you can gamble then you can take risk and who knows if this one would make huge profit.The question now about this one, would it able to launch?

Libra is not completed yet, its presently facing many challenges too and even if it get launched later it will be a stable coin so tell me, how can you make profits out of a stable coin? it means you know nothing about Libra, work more on your research