Bitcoin Forum

Libra has raised fears about the future of blockchain mainly because it goes against everything the community wants and believes in: decentralization.

Facebook could ultimately create a massive closed-loop revenue model from ads, digital marketplace, to payments. Do consumers want to bet on the status quo of existing monoliths?


https://elixxir.io/blog/is-libra-the-future-anyone-wants

That's a no from me dawg. I am not a fan of this Libra project especially in terms of privacy. Didn't David Chaum try reaching out to Zuck early on?

Libra coin is just a blockchain based version of fiat. No true advocates of decentralized cryptocurrency would ever want that. But we also have to admit that there are millions of facebook users that are not into crypto, so those will be their target customers. The bad rep will be, those customers will consider it as true crypto since they are not well aware of bitcoin and true characteristics of a decentralized cryptocurrency.

First you have to move this topic to Altcoin Discussion (https://bitcointalk.org/index.php?topic=5163965.0) because it belongs to that section, second it doesn't create any fears to a decentralized market because we are confident that even if Libra is a big coin they can't still beat a decentralized of cryptocurrency. This is a good adoption, the future will be good but it will be hard if they work as centralized coin.

It doesn't matter if we actually want it or not. What matters is that there are a good amount of people that are going to positively going to be impacted and take advantage of this. We're still not sure how it's exactly going to work though, especially concerning privacy.

It's not actually hyped. "Hated" is a better term to describe it. For some reason it seems like a lot of people are scared of it. No, it's not going to replace Bitcoin. Not even close. People are heavily underestimating it though, it will definitely be useful for some people. There's no way those companies invested in Libra if they don't think it has a chance to work well.

I am fully doubt that Libra is the future, that's ridiculous. As one of the community who understand crypto industry, the difference between centralization and decentralization of it, for sure others will say the same thing as I did mentioned here. Libra may take advantage the chance to do this because they knew that there is a millions of users of FB, and the sad is those millions of user don't really had an idea about crypto, were to their sight it will become useful, and its connection of FB for the big companies too. But for the matured crypto enthusiast it is not.

dont be so ridiculous OP i think most of the people in here did not like the libra hope you aware of the reason behind it. Libra is just a simple coin with an big big hype due to the partnership that is happening right now but libra is not anyone wants

Libra does not exist yet, would not yet see the functionality of this coin. Therefore, it would be wrong to write that many already adore this coin. While there is a massive advertising of this coin, and at the same time its discussion as a big project. The Facebook project with its Libra coin is very ambiguous and most likely can do more harm for cryptocurrency than good. With the advent of this coin, a cryptocurrency can very quickly move from anonymity and confidentiality to universal control of information about its users.

I think that it is good because it can quickly introduce the world to crypto/blockchain - this will in turn get people that would have never heard of crypto/blockchain in their life hear about it and potentially get into other coins and invest.

It basically gets the "mass adoption" thing every project has been trying to do done because of it's user base.

Yeah, the hype may last until we saw the real product of Libra coin and until many investors realized that this coin will be just like a normal altcoins. If the hype goes high Libra coin might ended up on the top position but it doesn’t mean that investors really like this coin, they just buy for the hype.

You can be interested in a project even if it's only in the whitepaper phase.

Can you expound more on why you think this? How is another stablecoin going to do harm to cryptocurrencies?

The question of Libra has been asked for days. Obviously no one can fully answer because nobody really knows what happened.

Facebook credits was a fail back in 2010 (https://en.wikipedia.org/wiki/Facebook_Credits) so they try it again but on a blockchain.
Facebook wants it so here it is.

Before you blindly trust any project, you will need to carefully examine this issue.  They have repeatedly stated that Libra can become a competitor to dollars, and therefore we need to understand what the competition is and what benefits the users will have.

It is still very difficult to assume something about Libra.  After some time, we will observe the reaction of the United States regarding the Libra project.  Something very little information that the Congress has already expressed its opinion of discontent regarding this issue.  It seems to me that in the near future we hear what obstacles in the way of Libra will arise.

Interesting point that Elixxir brings up about Libra forming a closed-loop revenue model. Does anyone else feel this way or expand how this could happen

I don't think everyone will like the project Libra. Not all individuals are fine of disclosing their private info to these companies. There are people who still value their privacy and this project is like exhausting all your information via all the transactions that you will do to them. So nope, Libra is not the ultimate blockchain project that everybody wants.

At the initial stage, LIBRA COIN might be able to take over the market temporarily, because of the hype that has surrounded it prior to its release because of its developer being a popular one in the society, but I am not so sure that the hype will last in the market when people eventually see it for what it is, I am a full centralized system of the Libra coin.

For those who understands everything about decentralization, I bet they will not pay much attention to Libra coin concerning its payment technology, the only part I see them paying attention to is the part of investment, that is if the coin will be qualified to be used as investment, because  I learnt that it will be a stable coin, though there is another version of it that says it will have volatility like bitcoin and Ethereum, but I am still waiting for the coin to be released for us to know the true nature of this Libra coin.

Well, Facebook just got fined for $5B by FTC which in my opinion is far far less for the breach of privacy. I don't trust facebook much were privacy is concerned but maybe just maybe Libra could be a good thing that crypto community needs right now.

There are several cryptocurrency which are centralized and don't seem to be a threat, for example XRP or utility token. I think there is no serious threat to the presence of Libra Coin on the cryptocurrency market because basically Libra coin and bitcoin have different ways of using it.

I don't think the libra will be the crypto that everyone wants. Everything the crypto community wants is in bitcoin. Bitcoin with blockchain technology presents transparency, transaction speed, and transaction security.

As facebook is the owner of this coin then i believe it will be a big success as Facebook already has billions of users in which for sure might become future investors too. Investors always looking for trusted and most potential investments in which Libra have posses too but it doesn't mean it will supersede Bitcoin as the king of cryptos.

The whole cryptocurrency economy is built on Bitcoin today. It is like an American dollar or gold. Any currency that comes close to shifting it will cause misunderstanding in the market. And there will be a big feed. I do not think that investors will risk it.

Personally I don't see anything bad with Libra since it all gears towards crypto adoption.  Yes, it's a centralized project, but this also has its good sides.  Since Libra will be a stable coin, it won't be a threat to existing cryptocurrencies as some folks propose.

Libra is a stable currency. That is, Libra has a system of integration points that lock in value.  Blockchain, equivalent to a system that cannot be damaged or replaced. In this system, he can release a point which points can be traded. The currency is stable, meaning that this point has a stable value.

Libra is going to be a real challenge of crypto world and FED.
If Trump dies than the world can start to change. Libra is trying to replace USD so here is where the real war begins.

Libra is another type of stablecoin according to source, but there are lots of stablecoins in the market, and they are not a threat even to world financial systems, maybe it can help to ease the transactions unlike using the banks which require higher fees and a transaction time.

Libra still on the way to enter the crypto world that anyone wants and they need to continue the project until the finish. There are a lot of to do from the Facebook team behind of the Libra project, and they need to work hard, so people will know what the benefits of having Libra on their wallet. But they are difficult to compete with bitcoin as bitcoin still be the leader of the cryptocurrency.

is that true and in fact many countries scare the existence of libra later when released? Libra is in a position with the support of many large projects, this might be more value than this coin. but the stable concept of the coins that are brought, will turn libra as an alternative to secure good assets. will not be much different from usdt and other stable assets.

The main concern with Libra is not its centralized aspect, after all it will not be the first centralized coin out there, but privacy. How can Libra users be sure that their data and movements will not be tracked, stored and sold or leaked? After that widely known data leak scandal, how can anyone trust Facebook at this point? Are people really going to ignore this?

Although the blockchain technology of Libra might seem sophisticated and interesting but I am more about it because of the exposure it offers and the 2 billion new users it will onboard to cryptocurrency.

Indeed, this is quite an issue. And Facebook is very much aware of this. In fact, they have actually responded to this already. David Marcus of Facebook has this to say:

"You won’t have to trust Facebook to get the benefit of Libra."

"We will not have any special rights or privileges. Facebook created a subsidiary – Calibra – that will operate a wallet service on top of the Libra network, and while Facebook Inc owns and controls Calibra, it won’t see financial data from Calibra."

"Facebook will not control the network, the currency, or the reserve backing it."

"Facebook will only be one among over 100 members of the Libra Association by launch."

Sources:
https://metro.co.uk/2019/07/05/facebook-dont-trust-us-use-libra-cryptocurrency-10116398/
https://www.coindesk.com/facebooks-david-marcus-libra-crypto-users-wont-have-to-trust-us

---

And as what I have learned and understood, Facebook, as a single member of the Libra Association, will only have a single vote as well. They will have the same equal footing as the rest of the founding members of Libra.

I interpret all these statements as a step to insulate Libra from Facebook, whose data issues and reputation have really made them look untrustworthy. 

Libra can be an interesting step in the history.
Clearly I don't like the idea behind it, clearly I think it the worse possible stablecoin (and stablecoins were alredy something bad). But...

Libra made the big boys look at the crypto for real. It made them understand that crypto is not a game, it's real, it's here to stay and it's about money.
It also made them feel threatened, which may be bad. However, I think that Libra will cause "the things" start moving for real. They will not afford to ignore crypto anymore.

My hope is that exchanges will get properly regulated, the coins will be considered currency and you won't have to pay taxes only because you spend coins (let's be clear: if you invest and make profit, that's a different story), payment processors will accept Bitcoin in the same way they accept VISA or Apple Pay and so on... and maybe one day we'll do all this without the necessity to go through fiat.

I think that Libra will attract a large number of people in crypto, it will be a good advertisement for entire industry. Of course, I understand that Libra is not a decentralized altcoin, it is a fiat in a blockchain shell. And now there are a lot of them on marketplace - almost all of stablecoins and exchange coins are under centralized management. How are they better Libra ?..

Though some people might say it doesn't pose any threat to the world financial system but politicians are still putting their attention into it since facebook is among the biggest company in the world. if it is USA, I'd guess that they will definitely take some action into it.

Obviously, they know they need to do this since people don't trust them, but will they keep their word? They own Calibra, how can people be sure that they will not collect data from Calibra at all? One thing is what they promise, another thing is what they can do.

Libra has a great impact on public and since its a Facebook coin, the popularity will be high because many people are on this social media platform. Though Libra hasn't been launched and announced, I believe it will be a stable coin in the future.

You have to change your point of view. Libra is here to bring normal people to cryptocurrencies, show them the possibilities and they will buy also Bitcoin, do not be afraid.  8)

I don't think Libra is the future that I want..
I don't know but I see Libra is like JPMorgan Coin 2nd phase  ;D

If someone trusted with CENTRALIZED of Libra, Just in case forgot, how Facebook "broke" user date at the past.  :o :o

I see the future of LIBRA as a top project at most, and no more than that, because it is essentially the same altcoin as all the others

In my opinion Libra is only the gate way to greatness for cryptocurrencies

as its literally coming as a wolf in Shep's skin, but who knows its to early to call it a good or bad project for the future.

For now we watch from a distance.

Unfortunately, the masses don't care about privacy. They care about convenience and saving time. And I am more than sure, that Facebook will provide that.
The libra project will be very successful according to me. But at a high price.
However, we are not obliged to use it or participate. Nobody stops us from keeping developing our own money.

for me , its like a new universal money.
with blockchain system, for some good reason,yes.
it will bring more people have attention to crypto industry
but on otherside reason,i think it will be the next bucks.
just imagine, 1 for everything,since big company has been partnership with libra.
it will bring new ERA.

Libra will be the catalyst for mass adoption,bitcoin popularity and crypto utilities in general. Although it is a centralised payment system in my opinion, it will still go a long way in bringing more people to the use of Internet money.

Yeah that's correct sir, libra project they the advantages of social media site to encourage and convince the users to become aware in crypto what is all about. And possible people to start researching what is bitcoin as currency or crypto.

I do not think Libra is a threat to the future of the blockchain ( or more appropraitely-cryptocurrencies), first it is a stable coin and will not be much different from paypals or other centralized entities, secondly, cryptocurrencies are still evolving and we are at the beginings relatively

I think Libra will be a coin equivalent to a dollar, which has price stability. And this Libra coin will not be able to compete with Bitcoin, because of the striking difference between the two, so I personally only hope that Libra and Bitcoin will coexist.

really I don't talk because it is also in the beginning Stage So if the massive development happening only we can expect this is the future and I think they are putting their 100% effort in in this project if it is successful then it has huge attention and achievement in Crypto field.

We will see about that, everyone says that it will bring good things in the ecosystem. But we cant' say for certain, US lawmakers are really against it, even the President himself has some nasty things to say about Facebook's Libra. So right now everyone here is just pure speculating if it can bring positive or negative effect on the crypto verse, but so far from what I have read, majority are questioning this coin.

Libra is definitely a part of the future that everyone wants. But Libra is not the future that everyone wants. Libra is joining the future to be exact. The future is cryptocurrency and blockchain. The future is peer-to-peer transactions in commerce. The future is about the replacement of paper bills and physical coins with digital money. That is what Libra learned from Bitcoin, above all.

Libra is not the future of crypto that we want, but Libra is the future of crypto that we need, because with the emergence of the Libra, this has made the crypto market move back to life after a long period of continuous decline, with giant companies like Facebook participating in the crypto world, this is good news for the future

libra is the end of crypto as a hole.

not only is centralized. It's the creation of a group that is pushing their own political agenda, against the right. They are totalitarian ultra-liberals (leftists). Facebook, Google, Instagram, twitter... etc... if they are using social network to ban ideas from having share, why do you think they would not do the same against your ideas? What if libra was used to push leftists laws in countries and the country that denies it, is banned from using that coin??

Libra is the end for crypto.

LIBRA is another cryptocurrency (alternative coins), this one will give more support and acceptance on crypto.
But this is just another alts which can be more successful than others.
We can use this to gain more people in the community and acceptance for more merchant in this world.

anything which is centralized control by somebody I personally don't like it and the whole  purpose of cryptocurrency is to be decentralized

First let this Libra coin appear, we will evaluate it, and then we will decide. In any case, without the support of the people, this coin will have no future.
In addition, now with the launch of this project, Facebook has big problems due to the US position. This coin, which made a lot of noise, may never appear.

According on what I read about libra coin, It's true that the libra coins run using the blockchain technology, and it's also true that the price of the libra coin is stable, but according to what I read, libra coin is not considered as a cryptocurrency, I think it will only use the blockchain technology for faster transaction processing but it will only run in the facebook platform and will not be put on exchange. If this kind of coin really do put on exchange, do you really think the this kind of coin will really be stable, and if it is on the exchange, it will only be like the TUSD which is redundant to the marketplace.

Libra is meant to be a stable coin if I am not mistaken. So it will not have much impact on the future of cryptocurrencies. Rather I believe that it will even help in marketing blockchain and other cryptos to the wider noob community

Thanks for asking this .this is my thought libra coin is better and safe coin as well .this is good for future it will help us in many way of our life .it
could make our life easy fast and precious .this is stable coin we can hold our deposit but we can not grow in this as other coins

I agree, because Libra Coin is stable coin, I think people only need to transact on Facebook platform. But as an investment, I think it's the same as holding US Dollars and no profit will be earned

Moving forward the future we want, libra is a step forward so I do yes it's the future we want. We need more tech on blockchain and we need big companies to come in. So far libra has shared the table and it is a welcome development

The team of Libra are trying to make it look like it is the best, whereas it might ho against the ideas and ideologies of some people about what cryptocurrency is. There have been a lot of promises by different developers, which the wants of the community is not fully satisfied.

It is not Libra upon which my hopes are founded. Bitcoin is. The future of currency is created by Bitcoin. And that is the future that I want.

The thing with Libra is the userbase is going to have by default. We are talking about Facebook, Instagram, Whatsapp

Instagram - 1 billion monthly active user
WhatsApp - 1.5 billion active users
Facebook - 1.7 billion active users

To put this into perspective
Coinbase - 13 million users

(all this data is from Google search btw)

They will easily become the most used token in the moment they release it. Also it will "enable banking" to a lot of people that only have a mobile phone and not a bank account. They will probably win the race as well of being easy to use as everything will be done in the background.

I don't like Facebook as a company, and there are a lot of privacy concerns. But also this could open the door for a lot of people into the crypto market or be used a fiat gateway.

It seems to me that Libra will not become a cryptocurrency, it will be something like Tether, personally I will not invest and keep this coin, but a large number of people will learn about cryptocurrency and Bitcoin thanks to this project.

it is very uncertail now If it is only for that reason I don't think Libra will last long enough even though the previous project was even better.

There are two sides to the libra coin and it depends on the one you choose

1. Libra coin held by Facebook could lead to data leaks because Facebook knows you, your mutual contacts and locations, if you are a very social person maybe libra is for you

But secondly on another sense, what benefits will libra coin bring for us all ? It sounds like a privacy coin restricted to certain extents, how can we all use it ?

How can it be the future, if we all can’t get access to it like bitcoin ??

If Calibri wallet app will support also Bitcoin and other cryptocurrencies to buy and sell, then it will be the first step for massive adoption. Imagine that 2 billion people will have an opportunity of easy buying crypto.  :o

Libra Coin, in my opinion, is not the future we want because what we want already exists like USDT or other stable coins, but the libra coin is the future that we hope for, because of the extraordinary collaboration between many large companies supporting the ecosystem of Libra.  hopefully.. with the circulation of Libra, it can open the way for cryptocurrencies to be accepted by the general public.

If you are counting users from all of the facebook's companies and then we can assume only a few percent that really understand about crypto. To use the overall total users from all of the platform that owned by FB is not a good example.

Have you ever thought that Libra is simply a form of fiat currency, its value will be kept constant for the purpose of payment and use for advertising services, product payments, ...
I don't think it will affect the blockchain platform now and in the future.

Pegged to fiat and a guaranteed ~2% value loss (or more if its hyper-inflates) due to inflation is no future.
Its just a continuation of the same. Actually worse as with cash you have at least have some freedom.

everyone talk about libra, for example US government and manymore
and thats really good news for crypto world
why ? because they help to promote bitcoin and altcoins, just a free promotions already coming in crypto world now
be ready, because a huge demands will coming my friend

it all depends on the ability of the developer to manage the use of their products. if they had thought of a plan to make this so extraordinary it would be very difficult. we will see it later, speculating now it will be a useless discussion later.

Libra is somewhat the future many people expected from crypto. Though the implementation of Libra is not confirmed yet. But if it did according to current whitepaper, it would change the way how people around the world transact and send money. Libra would be a global payment system.

yes we don't know how later libra will function in exchange. I hope this will make fresh money enter the market. by attracting more people who do not know about crypto assets.

this is still the initial stage and all projects are just like they look like it will be extraordinary and a threat to bitcoin but the reality is not necessarily appropriate, but if Mark builds his project excessively and violates what the cryptocurrency project should not do it should be snapped by the community

The only thing LIBRA is gonna do is make FB richer and more powerful. Avoid it.

If it does go of the ground how long will it manage to last.
Without hyper-inflation wealth loss is about 2% per annum.
https://i.ibb.co/YQt27B8/Untitled.png (https://imgbb.com/)

You're right.  I think so too.  Because their main goal is to collect data than they are now.  To learn all our tastes in order to later manipulate.  I would not trust them.

I partially agree with you, but look at what happens to the entire market after the Banking Committee expressed concern about Facebook’s plans to launch a Libra. Market is crushed . I do not perceive Libra as just another cryptocurrency for exchange manipulations, for me it is an indicator of the readiness of states to coexist with cryptocurrencies. This is important for a whole cryptocurrency market.

It's been interesting to watch the Congressional hearings over the past few days. If you're not following what's happening I would recommend checking out today's Blockchain Education Day in Washington. There will be a ton of great insights I think from people on the crypto side

https://cryptobriefing.com/crypto-leaders-washington-blockchain-education/

But at the risk of saking our privacy? I think Elixxir has a point

Facebook is a very large company with billions of users. Maybe centralization of Libra is better for Facebook because its credibility will serve as a guarantee of trust.

Theres nothing enough evidences that libra will be having a vital role in the future. there are more still time for libra to prove its worth

Libra coin even shook the United State government even more than the other cryptocurrency that has been in the market because everyone know  how well established Facebook is already in technology, and based on their achievement so far, their cryptocurrency technology will really get a very wide attention and many people will accept to use it even if it is somehow not representing the true feature of blockchain technology which is the anonymous part of it because I quite doubt if Facebook will ever create a decentralized coin, and this was the first point the government must have thought of that made them invite Facebook because they know that it will create so much awareness for cryptocurrency in the market.

The Libra project is very dangerous because a lot of confidential information about at least a third of the world's population will be concentrated on Facebook’s private structure. It is hardly worth admitting. Therefore, the fear of world states that have taken a sharp negative position against such a project is understandable. However, in this case, the state also worries about the preservation of prices for their ordinary currencies.

Since Facebook has to deal with scandals surrounding personal data and such, I don't think there will be a lot of people put their trust in Libra completely right at first sight without being cautious of its privacy and security. Surely it will have its own community and believers, as some people may adopt this currency since it's conveniently linked with common payment systems like VISA, PAYPAL, MASTERCARD, EBAY, etc., and their business is linked with Facebook ecosystem. However, to the crypto community, it will take a long run to prove its worth or will never be accepted as it goes against the believe in decentralization.

I think facebok coins are not decentralized or are called centralized coins or can be said they are more focused on finance and different from cryptoqurency which means decentralization or in the word investment. so the presence of Facebook coins does not mean that the future of blockhain will be threatened? that's not at all because I think the future of blockchain will continue to grow, so there's no need to worry about this.

If it wasn't for the popularity of FB, I don't think Libra would have become so popular, I'm not interested in studying this project at all

Libra is definitely not the future that can help us get blockchain to the next level. It does help in terms of word of mouth because of Mark and Facebook as a whole, but it doesn't provide the IT factor that will benefit the technology as a whole. I would rather go for startups that are aiming to introduce blockchain technology to different companies and are more decentralized (http://www.hpb.io/?utm_source=lx) than other projects that are in the space right now. I'm not counting Libra out but it needs to prove its worth to everyone.

Well,,, Tether managed to last many years and it seems survived a few disasters and seems to be stronger than ever. I do not see why not the same for Libra, and it has even more power and more connections. It will be something for sure,,, but not the big brother coin people think it will become.

10 years = roughly 20%?

Though Libra will harm the crypto's nature in some way but overall it will do better, By the Libra coin, real mass adoption will come into crypto. Yesterday I read an article in Forbes, that Facebook's Libra coin already ahead of ETH, LTC, XRP, not BTC! I think Libra coin will lead the crypto market after Bitcoin, but honestly, we don't want it.

Tether last as long as the Dollar it is a stablecoin like Libra or other stablecoins, the only difference Libra price is not = 1 USD as based on several fiats and "other assets."
Tether is just another name for USD, selling USD to buy something equal to USD (minus fees).
Selling tether something equal to USD to get USD (minus fees), end-result almost money back just some small fees down and hope exchange does not close and run with money.

If you are happy with 20% wealth loss in a decade and retire "poor" thats your problem to deal with.

Libra is a money grab, nothing else, Google, Amazon....will follow in the money for nothing endeavor.

Libra is centralized coin where most of the corporations came forward to launch a crypto currency for their transactions i feel libra is similar to ripple coin

No, libra is not the real future but Bitcoin is always be the real future in the world.
Libra is too young and many people hate it to be the first choose in cryptocurrency.
I will take a safe play and still look what will happen next in Libra.

I think Libra has a small chance of success, just like any other altcoins if it can find the right scenarios to focus. These scenarios are going to be small and limited. This way, it can get the most important stakeholders to cooperate.

My thoughts:

https://bitflate.github.io/post/2019/07/23/libra-consortium-driven-digital-currency.html

I think Libra is going to cause other similar fortune 500 companies to spin up similar competing cryptocurrencies. I do want to know how this will affect the entire ecosystem especially smaller projects

Indeed, almost all businesses get fierce competition. Moreover, online business competition is easy for everyone. But I think the blockchain system is still able to compete with Libra. Especially in terms of security that has been tested since the blockchain was born.

There is no way to tell that Libra coin is a blockchain based project, Blockchain is concept based on transparency, and Libra will never  offer transparency, It's more like an offbook currency.

Security and privacy will definitely be two faults for Libra but I honestly don't know how regulators will allow them to prosper and compete with other currencies around the world. Either the US needs to take advantage of this opportunity to own the crypto space or other countries will

Libra is not going to substitute the main altcoins and there will be a satisfying space for each coin. The governments will not be able to track the payments on the Facebook platform and the reasons will vary for finding the excuse in order to ban the Libra coin. Same events happened around all coins that intended to be a global gate for the worldwide payments.

You might be right! That'll be the consequence, it's a matter of time.

For now it's not, we must wait for further updates. Giving wonderful comments can be intriguing to somebody, somehow creates convincing ideas which isn't right, because libra for this moment was still on development and not yet really having definite transaparency.

Libra will be used blockchai but it's centralized and i'd like to call that as a centralized blockchain or side chain project. Libra will actually never offer transparency even privacy. what they will be offering for us is just about the usage of the token and no more.
Anything that controlled by a single entity can't be called as a decentralized. libra will act as a stable coin like tether and transparency is not an important thing as long as the company can do everything with its stable coin called libra.  :D

Libra is no proposing any better future and it's not rocket science to understand this, Libra is going against all ethical policies about privacy, blockchain and even monetary policies. Libra coin is just a combination several wrongs which can never make a right.

The only ones who wants libra are the elites so they can control the people.

Most people got hyped with Libra because of Facebook popularity and due to its partnership in the entire world.
But it doesn't mean it will become the future currency as others thinking about it.

That for the investor's side but for the users side, Libra would really help especially those people who have not yet experience banking.

With Libra, you can use your facebook account to transact money to another user, things that are suppose to be hard is made easy by Libra as things are done online and you just need an internet connection to do that. They are helping in bridging from one country to another for a faster and cheaper transaction of transferring money, I think they would give great benefit to the users of this stable coin.

If I'm not mistaken, Libra is the name of the blockchain, and Calibra is the name of the company. I see the Facebook team wants to build a Blockchain and coins that have coin capacity levels into global currencies. I think this is not much different from the blockchain that we are currently using. Maybe the Libra name is popular more quickly because it has a Facebook team. For the truth of this we have not found. Perhaps the strength of Libra is that it is easier to recruit investors compared to Bitcoin in the past. Bitcoin is formed from the ground up, whereas Libra has already been there Facebook as a strong foundation.

The creation of the Libra coin on Facebook met with great resistance from the governments of the United States and other G-7 countries. At the recent G-7 summit, it was decided to take any measures, up to a ban on the circulation of this coin in the territory of its states. These states fear, first of all, the great influence of Libra on the global financial system, as well as the concentration in private hands of confidential information about a significant part of the world's population. Given this, Libra is unlikely to ever appear, and even Facebook has already expressed doubt about this.

if the community is sure to have an element to be sure of the way to be able to get about digital payments until advertising occurs the problem comes to its essence to consumers whose income is closed ..

If Facebook is really building a blockchain, then I think that they are already digging their grave already, except maybe they will regulate the blockchain and any project that will want to come through their chain, because we can see what is happening to Ethereum right now.

Whatever blockchain that Facebook is building will be very similar to the services of Ethereum also and if that is the case, they will surely affect the existence of Ethereum because many people will migrate to their blockchain being that they are very popular already and people will get to know about projects through them than any other blockchain services company but we will still end up having shit projects more through them through the billions of users that they have except maybe they will regulate theirs.

Treating crypto just like another good investing instrument - nothing more. So, in this case Libra is good for me, as it helps more people to find out what the cryptocurrency is and create more hype around this market.

No,  everyone wants it become real cause they can buy and sell it to make profit for a short time,
But governments and other big organizations never want facebook's coin to be real. There are too much side effect for such a big company as facebook. One of the biggest was washing money.

excellent  point that Elixxir brings up about Libra forming a closed-loop revenue model. Does anyone else feel this way or expand how this could happen or not

I definitely oppose Libra (or any similar projects). Their idea in generally perverts the blockchain. In fact, it will be used exclusively for making money on other people. Using a big name  "FB"  Libra will gain the trust of millions of people.

What is Facebook expressing fear for when it was all their fault for releasing such project at this time, if they had even limited the coin to just a utility tool that will be used within their system and paired with bitcoin which i initially believed that was going to be what the crypto is all about, but till I started hearing off them proposing to release a global currency and they think that the world would just accept them like that juts because they are Facebook.

The idea that Facebook can control everything is what is going to eventually kill Facebook and I think that mark Zuckerberg is too rich that what he is looking for is power, and now you are seeking power that will make the economy of the world to be under his system, he is already a failure as regards this Libra.

It's certainly not the future I want. Facebook makes it's money from user data - our data. It models our behaviour and sells it on for profit. Libra is I believe primarily another data source, so they can track our purchases and feed this into their models, and make more money from us. It's getting quite advanced now with AI and machine learning not only able to predict our future behaviour quite well, but also - and more scarily - being able to manipulate our behaviour towards desired outcomes.

FB can F-off.

It's not what the community wants, but it's what Facebook wants to feed to us, and we all know that massive advertising and propaganda can make things a reality and make the community embrace it.
Facebook has a long run of success on what they are offering to us and they will concentrate all their resources here to make us embrace and support it, even though we don't want it.

Whether the Libra will be the future everyone wants largely depends on the ability to be what it is expected to be. Acceptability among the various individuals and organizations as a means of payment. If not, I don't see it beyond all other diminishing tokens or coins dwindling on various exchanges.

Personally, I don't think that Libra will have any positive impact for crypto environment. First of all, Libra will be a stable coin, so it's price will remain stable as long as it will be used.

People interesting in crypto will not be very interested in a stable coin that can be used mainly only on Facebook platform.

its really looking great yes, Libra is going to be  popular coin these days just because of, it is launched by Facebook. As we can see from the last year many ICOs have launched

Libra coin is just a blockchain based version of fiat. No true advocates of decentralized cryptocurrency would ever want that. But we also have to admit that there are millions of facebook users that are not into crypto, so those will be their target customers. The bad rep will be, those customers will consider it as true crypto since they are not well aware of bitcoin and true characteristics of a decentralized cryptocurrency.

If they don’t regulate their blockchain, there are going to be lots of shit projects for sure. But, the way I’m seeing it they are going to be regulating their blockchain. Facebook is a big company and I don’t think they would like any of such things staining their name. Because, if they allow such things to happen then it’s going to make a lot of people hate them for it and that is going to cause them a bad business, which I’m very sure they wouldn’t like of course. But, we can’t tell the future, it’s still a long way ahead… so till then we will get to know the full plans they have for this their Libra.

But, this is not the future I want. Libra is a stable coin and I want it to be a future on stablecoin industry and not into smart contract areas. Dual functionalities may lead to misunderstanding of application of libra which is more dangerous one as it directly affects new adopters.

Libracoin's big win was only because it was brought by a big company, so this news became booming, but for experienced bitcoiners it was indeed less enthusiastic about this coin. but on the other hand, I think libracoin will easily attract lay investors who have just learned about cryptocurrency. It is very unfortunate that the decentralized system is lacking on this coin

Well, in my opinion Libra has nothing difference to other altcoins that will rise here in crypto industry. Even some of the community thinking that Libra will surpass bitcoin, that won't be happen no matter how strong their big connection they have in business world. It will only be like what happened to other altcoins in the end.

Libra's emergence in the coming year is full of pros and cons. some people support this development because it will facilitate transactions made from all people in the world, given that Facebook is the largest company of social media that is popular today.

Some parties certainly reject this development, even some information that I read says that this will be a new monopoly of money. Until now, so many terms have emerged, and the news is pros and cons. but, personally, I certainly strongly support this development, and feel that libra will help the development of transactions, and technology in the future.

Im pretty sure there will be a huge gallery effect on many cryptocurrency community. Some will ride its hype due to being famous and some will not waive since the libra focus alone on centralized business of facebook with its allied merchants.

In my opinion, I think Libra will be good in the coming years if they not follow the case of xrp who is under a manipulated market from bankers and whales who also own or one of the corporation holder of ripple.  The only pros of Libra is it under a giant tech Facebook and probably will be known to a lot of users. Will see if they launch already.

I have major objections to this libra coin. Although the hype it comes with has been good for the space, i think security of data will be at risk and the decentralized nature of the crypto space will be ruptured.

I can't fully assume about Libra coins or Facebook companies because until now they are still delaying the coins, and I don't know exactly when the coins will be released. but if they are right and immediately launch a coin it will likely have an impact on adoption.

Nothing depends on the average users. Big Bosses do not care if they want it or not. It seems that despite all doubts Libra will be launched finally. The other day, the information appeared: The delegation of the US House of Representatives is eager now to visit Switzerland to discuss Libra and the future of it.

It seems that everything is more than serious. Libra will be launched.

That's very negative, I think you don't like the project.
I know they had a bad reputation but whether we like it or not, the overall effect of Libra is positive and it could help the market to grow.
When it will be launch, it's gonna be part of the stable coins in the market and I'm pretty sure it will easily rise its daily trading volume since they have a lot of supporters, and imagine in the first year of operation, they'll be able to get at least 10% of the total potential users, that's huge already.

 ;) Yah, but U.S govement doesn't want to make new money. How to compare Libra with Us dollar?

No one can think about it. So, Facebook must stop their project. No hope to this way.

First of all, Facebook launching its digital coin called Libra is uncertain as the matter is not approved by the US. And another thing is that many people want to keep Libra if it is launched irrespective the coin going against decentralism. So I think Libra will have a great impact in the market.

From my perspective, the future of libra coin is gloomy, taking cognisance of the fact that the cryptocurrency emanates from the United States where the government is very strict about the support of cryptocurrency. I also read there's a bill in the United States Parliament which is bent on imposition of fines to companies like fsc

You should expect that project like Facebook own will really be of standard because they have had lots of experiences, managing up to 2 billion users and I believe that with their years of experience, they should have known better by now, which I believe they are also following the crypto space to see all the challenges that the technology has, which may be the reason why they also feel they could bring solution to the numerous problem and one of the solution would be to actually create some sort of regulation to  limit the rate at which very terrible projects are being produced provided that people accept their system because they technology has not even been released and they are being welcomed already with lots of rejections which I think may make them change their mind.

Libra as a project will unlock the massive potentials of the blockchain technology mostly due to its publicising tool. Unfortunately, libra seeks to control and harness data of individuals which has a likelihood of being used for the wrong reasons. The only way to ensure its transparency is to have a complete audit and continuous monitoring by certain bodies to ensure compliance. If this is achieved, then it will be massive for the industry.

With millions of Facebook users around the world, Libra Coin has the biggest chance of being besides Bitcoin. If 10% of Facebook users have Libra Coin, the market cap value can reach trillions of dollars and this will attract many investors to the cryptocurrency market.

With Libra is not so simple and straightforward. The main problem is the US laws. I think few people will agree to support the cryptocurrency which in the future will be able to compete with the dollar.

Exactly why, dare to explain?
Are you one of those "investors" who pays in dollar to get a dollar minus exchange fees?

Libra is a stable coin, I will love to use it to send and receive money from friends and family and trade it against the bitcoin if trad-able but will never ever use it as a store of value. I rather use the bitcoin alongside any other good altcoins. 

Libra might have a good future in this cryptocurrency community and many will buy the hype of this project.
But for everyone wants? i don't think so, But we can never tell that. we should wait for more development from the team.
But i will tell now! NOT ALL WANTS THIS LIBRA!

So far, we have only seen so much hype on Libra coin and it seems the hype is now dwindling.
At first, the news was almost allover, but I rarely see much about it and that is to tell you that some people are already losing interest it. The team also seem to be relaxing. Perhaps it us the marketing team that is not functioning well as supposed.

Libra, the new coin from Facebook accelerated the development of the cryptocurrencies industry by several years. Leading cryptocurrency exchange Binance plans to launch the Venus project, an independent regional version of Libra.

For those familiar with astrology, the new project has a very “talking” name - the planet Venus has a very serious influence on Libra (the sign of Zodiac).

Bitcoin and eth are still potential assets for the future rather than Libra, because as far as I know Libra is designed as stable in price and Libra are more focused as a means of payment rather than investment assets and to make Libra a personal asset,would be very risky because it is moving stable  of course there cannot benefit us in the future.

Libra is just simply a utility coin and I think that it has not intention of replacing the United State dollar, and Mark Zuckerberg will also not create was not agreed and signed as treaty, for there to be a replacement of US dollar, a treaty must have been signed after an agreement has been concluded.

In the case of Facebook, who will approve it when there is not general agreement of the world financial institutions for him to do so which I believe that Facebook is only just creating a utility coin that will be used in its platform, and maybe could also serve as store of value that will increase over time as people make use of the Facebook platform for business purposes which will make the demand for the coin to become very high and often.

Libra is definitely not the future for cryptocurrencies that I would like to see. In general, the existence of such projects as Libra seriously undermines the very idea of creating cryptocurrencies. But unfortunately is a future that we cannot escape ...

Libra is the future nobody wants or could ever wish for, Libra has model for cryptocurrency will have the blockchain compromised and all the benefits that comes using the blockchain doesn't exist with Libra.

Facebook, Binance, Wallmart and who is the next who wants to overtake the bank industry and make payments worldwide for the first time. But why they want? We already have a solution - Bitcoin, a solution that will survive all bans and regulations.  :P

If indeed the Libra Blockchain only copies and pastes from existing projects such as the Ethereum and Bitcoin Blockchain, it means that the use of the Libra Blockchain is not much different from the current one. So, there is nothing superior here. See some new blockchain after Bitcoin and Ehereum. Blockchain is much lower quality than Ethereum and Bitcoin. I think there is something new created by Libra, so that it attracts the interest of small investors. If only those who invest in Libra only popes have millions of dollars. Meaning Libra has no global impact.

A rigged game that is what everyone wants? I don't think so.

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 private person (judge, solicitor, clerk, cashier, officer....... ) who has never in life done anything wrong, 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, a scam, the one how must show its face can not possible win.

If the project is stopped it will be the greatest failure in history. I guess Facebook will do everything to launch Libra. By design, the coin should be an alternative to cash, credit cards, and bank transfers. Interestingly, in his rather lengthy message, Zuckerberg never called Libra cryptocurrency. It means that he is a very smart guy that managed to foresee the possible problems with gov.

I guess Mark Zuckerberg is not really the right person to entrust the large blockchain ecosystem with to manage and play with because of his antecedents to pray on unsuspecting individuals for his financial gains. His marred integrity from selling users private data is one of the subtle strong obstacles in his way of launching the Libra coin. How he scales through is what I will be watching out to see

There are so many projects like that already that all they do is copy paste those project and claim to have a better platform than them, but where are they now, they still could not compete with those coins at all, and if Facebook does that, believe me that they will not get anywhere, if they were even going to copy and paste, they should clone the entire system of bitcoin, but would they ever want to give up their power.

They should have also created a decentralized coin like bitcoin, and we will then know that Facebook is really more concerned about the solution they are bringing to people’s challenge and not just the money that they are after. Well, I don’t see any future for Libra because I already heard that the prime minister of France already condemned the project.

I don't see special about Libra coin, for me it is just simple stable coin. If Libra coin is launch maybe I use it for transferring funds if the transaction fee is low.

LIBRA really has a great hype, everyone talks about it and most people wants to ride the hype.
While some countries are being threatened as this early stage and announcing that LIBRA is banned on their territory.
Cryptocurrency is moving forward while many governments dont want it.

I am not very interested in Libra coins, although they have large partners and many crypto users are waiting for the launch of their program but I personally am not so interested or worried about them, I think the Lybra coins are centralized and cannot be decentalised like other cryptoqurrency.

Although Facebook grows worldwide, it generates huge profits every year from advertising and marketing. However, the release of Libra not everyone wants to own. The Libra is a fixed currency at the USD exchange rate, with no major fluctuations. Therefore it is not attractive to investors

I think that if this project succeeds in going through all the difficulties of working with the US regulatory authorities, it will be a very successful project that will bring a lot of benefits to the cryptocurrency market

Facebook coins are centralized coins, they only focus on financial systems such as FIAT, VISA etc ... and are also not decentralized like bitcoin or other alcoin, so I think if Facebook coins have been released publicly, it might only affect new users and not will affect the price of cryptoqurency in the market.

When I heard before Libra my expectation to this coin is very high because aas we can see facebook are popular in the world because they have billions user and libra can also popular . But after few reading about the informartion about Libra I don't think it is a future for me but it still become popular if they launch it in 2020 but I was wrong because I think before libra can beat bitcoin but not gonna happen.

as we know that facebook is the largest company in the digital world, they have a strong team and community and reportedly many well-known companies also support new programs that will be launched by facebook such as (altcoin LYBRA) in 2020. I think the emergence of this program later will enliven the cryptoqurency industry.

https://bitcointalk.org/index.php?topic=5163965.msg52445441#msg52445441

Since Facebook needs to manage outrages encompassing individual information and such, I don't think there will be many individuals placed their trust in Libra totally directly from the start locate without being mindful of its protection and security. Clearly it will have its own locale and adherents, as certain individuals may receive this money since it's helpfully connected with normal installment frameworks like VISA, PAYPAL, MASTERCARD, EBAY, and so forth., and their business is connected with Facebook biological system. In any case, to the crypto network, it will take a long hurried to demonstrate its value or will never be acknowledged as it conflicts with the trust in decentralization.

i have a different view about the Libra project, the coin might just be overhyped and doesn't really worth it, i don't want to be 100% negative about it , i just hope it can stand the test of time anyways..

Perhaps the purpose of the future that anyone wants is that people can transact easily without having to use a third party. Facebook Coins enables faster and cheaper transactions using only the social media platform

There's been a lot of speculations about Libra Coin on what and what not it can do to the industry, I'm not a big fan of those Facebook projects, there's a lot of advantages and disadvantages on their project, but we need to see first what will weigh the advantages or disadvantages and we will only know this after Libra Coin launch.

In my opinion, the Libra project does not overly influence the current projects of the cryptocurrency market. even Libra helps millions of people come into contact with the current cryptocurrency market. And then, cash flow will flow into the market.
I recommend choosing a good platform Alts, #Tokoin is one of my favorite Alts.
#Tokoin brings incredible growth. Projects where #Tokoin has brought significant benefits. I appreciate the staff of #Tokoin. Hope it will develop further in the future.

- If we were early bitcoin users, libra really could not create us too much excitement and admiration because except for the advantage of strong media, advertising and assurance, most of the features in libra are quite detrimental when the government can interfere with investors. However, one issue we cannot deny is that the media coverage of libra is too good, it also contributes to polishing the name of bitcoin in the market, so whether we like it or not, libra needs to appear and become our future to increase the growth of this market.

I do not think that the failure of this project will cause any negative for cryptocurrencies. Project was highly specific and personally me liked not particularly.

NO! LIBRA is just a hype that everyone wants to ride with.
Though, there is no doubt that this Facebook coin is a big additional to cryptocurrency.
This will add more popularity and demands, and as i see many investors and partnership of this one, it will rocket high.

The libra must exist. Decentralization is everyone’s choice. Libra can be widely used in the world, but this does not mean that it will completely change the entire blockchain industry.
There is Internet and there is darknet, there is centralization and decentralization, and it always will be.