Your thoughts on Facebook's GlobalCoin

[Free1bitco.in]

I'm sure Libra coin will perform great, but it is still upon us how we will treat it when it is already in the market.

People will use Libra as Facebook has a big influence in the online market, they can use their platform to advertise their product so people will be aware.
But,... the big problem now is if "Libra will successfully Launch and will be available in the market" since there's a lot of criticism on this project from the regulators.

yes, I think that is the main problem. When Libra successfully entered the market, I was sure that Libra would really be the best coin to be have. it's just that, the main problem faced today is so much resistance from outside parties, such as Europe, and others. this certainly makes a bad impact for libra. the release of large companies in support of Libra is also one of the disadvantages. however, if libra really enters the crypto market, of course, this will change the crypto world for the better.

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[yulionoo]

GlobalCoin is coming. What are your thoughts on this new Facebook-made altcoin? What have you heard about it?

Share your first impression!

I am not pretty sure why OP says it is a GlobalCoin because for me, bitcoin is still the crypto that unites the world. And yes, it is true that facebook is widely used all over the world, but for me, it is not that promising as it is not decentralized. There's still a third party that will control how this coin will perform in the market. Because It is better for us to have freedom in financial aspect than our transactions being monitored and controlled by a third party.

I'm sure Libra coin will perform great, but it is still upon us how we will treat it when it is already in the market.

yes i agree with you in my opinion bitcoin will still be a better coin compared to libra. because bitcoin is decentralized there is nothing to regulate and control. but I positively welcome the presence of this libra will make people who do not understand cryptocurrency understand because facebook has a number of billions of accounts so it is very effectively used to promote cryptocurrency. this will make the cryptocurrency market more attractive.

[sapnu]

GlobalCoin is coming. What are your thoughts on this new Facebook-made altcoin? What have you heard about it?

I have heard this news on our national television, and this is probably the right news. Facebook will deploy it in 2020, I think it will have a very good impact on the market when opening a trend for the world's leading companies to enter the crypto market, from which more money will flow into this market.

Last three months after Facebook team will announce for listing Libra coin many institution disagree with Libra coin, United State government never give recommendation and allowed for Libra become legal coin for selling to investor, until today Libra coin never have new update information about will they listed coin on the public or not, maybe they have miss opportunity to create Libra coin at the future.

I think this is going to be successful since facebook has a lot of users nowadays and it is the most popular social media platform today having 2.3 billion users. We could think that this is good for them because they can do transaction on facebook if that happens easier transaction with our friend and family will occur. And also we can think that streamers on facebook can earn Libra coin by doing their job and by playing online games they can earn by just streaming. Maybe this coin can help the market to grow up since more people can know about bitcoin and other cryptocurrency, a lot bigger possibility that new investors will come and buy their own token or even support new projects that are coming in the future. This is the new generation , we are using digital money than using fiat, I am looking forward to the future that we are not using fiat anymore but cryptocurrency instead.

[mich]

Five European Union Countries Team Up to Block Libra: Report

Following a series of private meetings in October, France is reportedly leading the anti-Libra effort with Germany, Italy, Spain and the Netherlands, political news publication Politico Europe reports on Oct. 30.
https://cointelegraph.com/news/five-european-union-countries-team-up-to-block-libra-report

[marcbitcoins]

I'm sure Libra coin will perform great, but it is still upon us how we will treat it when it is already in the market.

People will use Libra as Facebook has a big influence in the online market, they can use their platform to advertise their product so people will be aware.
But,... the big problem now is if "Libra will successfully Launch and will be available in the market" since there's a lot of criticism on this project from the regulators.

I'm very optimistic before that Libra will become a successful project if launched but after most payment companies have now pulled out of Facebook’s Libra project and together with some issues with the US law makers then i'm doubtful that Libra project will be still a feasible project to the masses so most probably it will be a failed project even Facebook has a tones of users.

[S4VV4S]

I just relaxed about the Facebook coin, I am pessimistic that the Libra project can be a good success because until now they still clash with applicable law, thus making their supporters withdraw from their support. But if later the legal regulations they propose are accepted then will the supporters who have come out come back again? let's wait.

[mich]

Libra Coin Continues Despite Regulatory Backlash



https://businessblockchainhq.com/business-blockchain-news/libra-coin-continues-despite-regulatory-backlash/

[mich]

Libra Won’t Spread as Quickly as Facebook, Says Calibra Exec

Libra will take years – if not decades –  to catch on says a Calibra executive.
https://www.coindesk.com/libra-wont-spread-as-quickly-as-facebook-says-calibra-exec

[mich]

As Regulators Stonewall Libra, Facebook Rolls Out New Payment System

As the Libra stablecoin project continues to face a hostile audience of regulators, Facebook launches a new fiat payment system called Facebook Pay.

https://cointelegraph.com/news/as-regulators-stonewall-libra-facebook-rolls-out-new-payment-system

[Darlingtona]

I'm guessing it might still be good and team good cooperation can.

[Lexurdania]

As Regulators Stonewall Libra, Facebook Rolls Out New Payment System

As the Libra stablecoin project continues to face a hostile audience of regulators, Facebook launches a new fiat payment system called Facebook Pay.

https://cointelegraph.com/news/as-regulators-stonewall-libra-facebook-rolls-out-new-payment-system

I think this is more realistic than Libra coin. The Libra coin project has been abandoned by its major partners and is also hindered by regulations. Facebook pay may be more realistic but whether it is crypto or not, we need to wait for further news

[leea-1334]

Libra Won’t Spread as Quickly as Facebook, Says Calibra Exec

Libra will take years – if not decades –  to catch on says a Calibra executive.
https://www.coindesk.com/libra-wont-spread-as-quickly-as-facebook-says-calibra-exec

At least they know the truth. I mean even look at the big digital payments like Paypal they took forever to grow and until today it is still not the #1 choice,,, and they do not even have their own currency. If you have your own, and you need people to convert back and forth, then it becomes a hassle. Bitcoin is different because all kinds of services and merchants now accept it so you do not need to convert, and it will become even better with adoption. But you will always need to convert Libra in my opinion.

[bettercrypto]

GlobalCoin is coming. What are your thoughts on this new Facebook-made altcoin? What have you heard about it?

Share your first impression!

There can be a great impact of that coin if ever it will be launched by Facebook. Since Facebook is really a powerful social media app and it consists of millions of users. Definitely, it will be a successful coin. If Libra will be embraced by the people, it will be a great threat also for bitcoin supporters. However, there are news saying that libra will take years before it will be caught by people.

[meliodas]

In my opinion, it will be a flop because we already have stable coins in the market. The government will not let it pass to their system because the government doesn't want to have a competitor in terms of centralization so I think that facebook's globalcoin will have a hard time and as their partners are backing out then the foundation of facebook's globalcoin will collapse and it will eventually become a flop.

[blckhawk]

GlobalCoin is coming. What are your thoughts on this new Facebook-made altcoin? What have you heard about it?

Share your first impression!

If you consider the current userbase Facebook has, Libra would surely have a hefty amount of initial users and that is a significant factor to their success. However, I'm not sure if it would have positive impact in Bitcoin. Non-aware people to cryotocurrency would surely just use Libra like it's just another digital currency and don't care much about privacy. On the other hand, those who are into Bitcoin already might not consider to switch to their platform because of such issues.

[HK88]

if I'm not mistaken, what I hear is Libra coins and not Globalcoin. but whatever it is, I'm very enthusiastic to welcome it to the cryptoqurrency industry. not that I will use for investment soon, but I am increasingly curious about this Facebook project. but if facebook coins are as profitable as investments like crypto, then I will use them.

[seleme]

In my opinion, it will be a flop because we already have stable coins in the market. The government will not let it pass to their system because the government doesn't want to have a competitor in terms of centralization so I think that facebook's globalcoin will have a hard time and as their partners are backing out then the foundation of facebook's globalcoin will collapse and it will eventually become a flop.

There was no need to add time factor and I remember the Yahoo and Google case in this situation. The governments will unquestionably let the Libra be popular among the social media users but the innovation will beat the government's barriers sooner or later. Germany and France have shown their opinion towards the new global coin of Facebook and I doubt this will be a big threat to the Libra idea.

[boris1044]

GlobalCoin is coming. What are your thoughts on this new Facebook-made altcoin? What have you heard about it?

Share your first impression!

With money in the mix – without ample regulation – Facebook could have access to spending habits of billions of people. Its role in the Cambridge Analytica and election scandals have painted a dismal picture of Facebook’s trustworthiness when it comes to handling personal data.

Beyond transparency, the lack of regulation with Bitcoin also made it a useful platform for black market deals – transactions made outside of government-approved channels. To these dealers, the dollar is a channel they would want to avoid as they would likely have to open bank accounts for money to flow through, which can be traced.

One of the concerns about Bitcoin was the difficulty in monitoring such dealings. Bitcoin allowed for various forms of tax evasion as transactions could leave no taxable trace. It also made it difficult to protect employees without legal contracts, as well as monitoring the sale of banned items. Many of these issues apply to Libra, or at least remain unclear, giving more reason for Congress’ skepticism.

I'm glad that Libra is facing all the backlash as it should.

[mich]

Facebook Touts Crypto Project Libra: 51,000 Transactions and Counting

“Our community of developers has responded enthusiastically, logging an amazing 34 projects in just seven weeks since launch of the testnet:
10 wallets
11 blockchain explorers
2 IDEs
1 API
11 clients”

https://dailyhodl.com/2019/11/17/facebook-touts-crypto-project-libra-51000-transactions-and-counting/

[ATSgrowth]

We definetely can´t predict how Libra and whether it will work at all. For the first time in the history we are witnesses when a corporate company creates its own money and threatens the stability and sovereignty of the state.