Your thoughts on Facebook's GlobalCoin

[Burogh]

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. 

I don't think money is made by companies because Facebook still has to back up with real dollars. Libra coins must be made known by the central bank so that the amount of money in circulation can still be controlled by the central bank. But it is interesting because with Libra coin, transactions do not require the role of the central bank

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[jcarlo]

Libra Coin still seems to face regulatory constraints from the government because it can disrupt the existence of the dollar. Even though Facebook can pass Libra Coin, I think it will take a long time for Facebook to develop it. It would be an objective if the American government passed Libra coin because global transactions would be easier and faster and cheaper

[mosprognoz]

Libra Coin still seems to face regulatory constraints from the government because it can disrupt the existence of the dollar. Even though Facebook can pass Libra Coin, I think it will take a long time for Facebook to develop it. It would be an objective if the American government passed Libra coin because global transactions would be easier and faster and cheaper

There is no way that SEC will give a green light to libra. Consider it as a dead project for now.

[PuertoLibre]

Libra Coin still seems to face regulatory constraints from the government because it can disrupt the existence of the dollar. Even though Facebook can pass Libra Coin, I think it will take a long time for Facebook to develop it. It would be an objective if the American government passed Libra coin because global transactions would be easier and faster and cheaper

There is no way that SEC will give a green light to libra. Consider it as a dead project for now.

There is no need to wait for the decision of the SEC. The global companies have the hidden hand which is used in such situations for calming down the dusty environment. The Libra can achieve to be the global stable coin but the threats by governments will delay the process, it is kinda understandable. Global transactions will lead to the centralized platform controlled by one group but the alternative companies have a low chance to make the same.

[Blackdeath]

In my own opinion, facebook coin will not be that good because it will be centralized and it will be a stable coin, so it will be only just like a fiat currency but in digital currency. It is the reasson why a lot of people has doubts in launching this coin because it might not be successful like bitcoin.

[bitLeap]

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.

why you can be multiplied like that, instead of facebook is a large company that is worldwide, investors will automatically not hesitate to enter the project

[mich]

New Bill Would Put Facebook's Libra Stablecoin Under US Securities Law

“This legislation simply clarifies the statute to remove any ambiguity. Bringing clarity to the regulatory structure of these digital assets protects consumers and ensures proper government oversight going forward."

https://cointelegraph.com/news/new-bill-would-put-facebooks-libra-stablecoin-under-us-securities-law

[Natalim]

New Bill Would Put Facebook's Libra Stablecoin Under US Securities Law

“This legislation simply clarifies the statute to remove any ambiguity. Bringing clarity to the regulatory structure of these digital assets protects consumers and ensures proper government oversight going forward."

https://cointelegraph.com/news/new-bill-would-put-facebooks-libra-stablecoin-under-us-securities-law

Government can do any measures for any business that would need their license to operate, if Libra wants to launch as per schedule, they should comply to this law or whatever law that may be created soon that they are entitled to comply.

What the government just really like is to have a complete oversight on big business like Libra so they can impose the necessary rules to avoid money laundering and of course the most important is the tax collection for the revenue Libra will generate.

[Chuky92]

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

Share your first impression!

With Facebook having issues with its partners, that is, losing its partners what's there to think again than to forget about it. Also, from the way it is being played now, I doubt if the zeal and interest is still there again for potential investors. Nevertheless let's keep watching as things unfold, it's centralized nature is a big blow to it already; have no interest in investing anyway.

[mich]

Aaannddd we are back!

LIBRA PREPARES NEW 2.0 ROADMAP FOR 2020 LAUNCH

Despite regulatory uncertainty, the developers of Facebook’s Libra project continue forward. Recently, the Libra team released its second Roadmap, with points preparing for mainnet launch.
https://bitcoinist.com/libra-prepares-new-2-0-roadmap-for-2020-launch

[poodle63]

Libra Coin still seems to face regulatory constraints from the government because it can disrupt the existence of the dollar. Even though Facebook can pass Libra Coin, I think it will take a long time for Facebook to develop it. It would be an objective if the American government passed Libra coin because global transactions would be easier and faster and cheaper

There is no way that SEC will give a green light to libra. Consider it as a dead project for now.

i see that according form some crypto news sites that said facebook has already moved to the another project. Libra is already dead and why people are still putting their believe in the libra when it will never be launched in the future. that's so weird.

[TastyChillySauce00]

With Facebook having issues with its partners, that is, losing its partners what's there to think again than to forget about it. Also, from the way it is being played now, I doubt if the zeal and interest is still there again for potential investors. Nevertheless let's keep watching as things unfold, it's centralized nature is a big blow to it already; have no interest in investing anyway.

There's literally no use of investing into stablecoin as it's just a safehaven to save your wealth from fluctuation and nothing more. Though, there's possibility that the value could also deflate due to being backed up by various assets but Libra is far from being deployed anyway so it's just better to just ignore it at this point and not being approved by government is like a dead end for the project.

[AirdropNotifyer]

So what if Facebook wants to use Blockchain as well?
And no one becomes global by having the name GlobalCoin, BTC was, Is, And there will be

[bdivrik]

Facebook came into this business with a very big advertisement. But change things. Some companies that support Facebook withdrew. What is the reason of this? I think they understood the power of Facebook to spread it. This is serious. Tomorrow we can wake up as citizens of the world: d

[Kersh768]

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

Share your first impression!

I have already read some news about this so called GlobalCoin to be launch by Facebook for the upcoming year 2020. Well, for me this will be a great news as of the moment because we all already know that Facebook is a very large company and a well-known social media platform that is used by many users around the world. Releasing or launching a crypto created by the said company will surely have a great impact for the crypto community due to the reason that Facebook is really that popular that releasing its own coin will gain attention and interest of the people inside and even outside the crypto community which will surely bring or gather potential investors of the market as well as new participants that will surely make the population of the cryptocurrency users grow even further because of this event. Looking forward for more information about the said coin but as of now, I am already expecting for its great success.

[tartibaya]

Why did Facebook slow this project? I think the states of the world became uneasy. The dominant states in the world are still evaluating this. Because the situation is that Facebook can become stronger than many states.

[stephanirain]

It will surely have good impact on crypto market in general but some are saying it will outrival bitcoin which is very hard to believe for me ,globalcoin will do fine no doubt but can't rival bitcoin

It cannot rival Bitcoin, I agree with that, I share the same perspective.

However, what makes you think that it will have a good impact on the crypto market in general? Because it inevitably raises awareness for cryptotechnology & DeFi?

Facebook has quite strong impact in a modern day society so launching a project will definitely raise awareness and could really educate the public about cryptocurrencies. It can clear up misconceptions about the technology and the industry. Personally speaking, I encountered some ignorant relatives who absolutely know nothing about crypto but talks about bitcoin like its a ponzi scheme or something. Really though, this can help remake the reputation of the whole crypto industry.

[Perfect35]

Why did Facebook slow this project? I think the states of the world became uneasy. The dominant states in the world are still evaluating this. Because the situation is that Facebook can become stronger than many states.

There us presently nothing being evaluated at the moment. The CEO or one of the prominent team members, in the person of Mark Zukerberg was called upon recently and was asked to provide answer to some of the questions asked, which ended up not favouring the project. I do not think that it will launch again.

[pcfli]

Why did Facebook slow this project? I think the states of the world became uneasy. The dominant states in the world are still evaluating this. Because the situation is that Facebook can become stronger than many states.

The total market cap of the whole cryptocurrency market is less than trillion, I doubt the newly launched Libra project will surpass the total valuation of any state funds. The Facebook team stood well after the few threats by the several EEA countries, the end of the traditional banking is near.

[Natalim]

the end of the traditional banking is near.

Well, I like to hear that, but the insurance should remain as that's the only reason why I am depositing my money to the bank.
Online money can easily be hack, in seconds it's gone while paper money, robbers needs to rob the bank and plan carefully to escape from the security.

Online money gives fast transaction but in terms of storing security, its not as secured as the bank is currently offering.