|
LowBrain
|
 |
August 17, 2019, 08:22:29 AM |
|
As you know Facebook announced their own cryptocurrency LIBRA but various legislation needs to complete before launched, so after launch can buy but this will be stable coin and will not affect BTC price.
Directly it won't, but indirectly it will, once people get educated with what is libra and eventually use it, they will be introduce in the crypto market and they will surely know about BTC which is a good investment, not only that, this success of Libra will also become a great help for altcoins to recover as investors would certainly touch them knowing they are so much undervalued. Your arguments sound weird. How is Libra going to help the shitcoins? And I am quite sure that by the time Libra comes to existence (mid-2020), many of the shitcoins will cease to exist. Libra can be a competitor to the altcoins (especially for stablecoins such as USDT, USDC and PAX). I can't imagine a scenario in which the introduction of Libra is going to help the alts in regaining their lost value. It may help Bitcoin, because many of the Libra users may shift to BTC in the future. But I don't think that any of them will shift to altcoins. In case everything goes as planned for Libra, then the coin will be introduced sometime in 2020. The point to remember here is that Libra is supposed to be a centralized stablecoin, unlike Bitcoin which is a decentralized dynamic coin. Many of the existing FB users will start using Libra (and the vast majority will be using crypto for the first time in their life), and after a while many of them will start exploring BTC. Introduction of Libra can result in more users to BTC in the long run. I didn't say it's gonna help shitcoins, altcoins that aren't performing yet are not automatic shitcoins. I know that Libra is a stable coin but it's popularity will help people to be aware of the crypto market because it's still being traded here in the space in different exchanges, probably the big ones. People when start using Libra will not close their eyes and will focus on using Libra alone, they will become curious with the existence of BTC and altcoins, and eventually will explore it. As you said, it could affect BTC, so if BTC will rise and hopefully make a new ATH if it will not happen this year, it's expected that altcoins will follow, based on the price trends in the past. It is doubtful that libra will help to become cryptocurrency more popular. Facebook is getting less and less popular, the number of users is declining all over the world. What is more, in China it will be impossible to use it. |
|
|
|
|
|
|
|
|
|
|
|
|
|
I HATE TABLES I HATE TABLES I HA(╯°□°）╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
marjil
Member
 Offline
Activity: 454
Merit: 13
|
|
August 17, 2019, 09:27:39 AM |
|
As you know Facebook announced their own cryptocurrency LIBRA but various legislation needs to complete before launched, so after launch can buy but this will be stable coin and will not affect BTC price.
There is no indication it will be a stablecoin. It will be on exchanges and will not be pegged to any fiat money like dollars, so it will move like all the othe other alts and be volatile. It will behave in the same way as the alts based on market conditions with same price movements. |
|
|
|
ðºÞæ
Sr. Member
Offline
Activity: 1176
Merit: 297
Bitcoin © Maximalist
|
|
August 17, 2019, 01:54:44 PM |
|
As you know Facebook announced their own cryptocurrency LIBRA but various legislation needs to complete before launched, so after launch can buy but this will be stable coin and will not affect BTC price.
There is no indication it will be a stablecoin. It will be on exchanges and will not be pegged to any fiat money like dollars, so it will move like all the othe other alts and be volatile. It will behave in the same way as the alts based on market conditions with same price movements. Oh really where does that info come from. The only difference with Libra is that its price is made up of several fiats plus digital assets (USD + Euro + other fiat + digital assets) = Libra, if the algo to form that stablecoin is public or not no one knows right now. One thing it definitive will not be, is deflationary and will lose value over time. A new car used to be about 800 dollars. Every private company establishing some money has been taken down because it is in direct competition to another private company the federal reserve bank. Facebook Cryptocurrency = Inflationary, losing ~3% of value per year BitCoin supply halving every 4 years (less and less new coins available) |
"The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling." Satoshi Nakamoto, April 2009 Avoiding taxes is totally legal if you consider and respect the law.
|
|
|
nwosuchristabe2
Copper Member
Jr. Member
Offline
Activity: 686
Merit: 2
|
|
August 17, 2019, 04:10:18 PM |
|
The Facebook libracoin is yet to be available for purchase, Infact it's been a long time since we last heard about the project. I don't know if they will be holding a public sale or a private sale, I only hope the initiative of the project hasn't been truncated by the United States government.
|
|
|
|
|
|
trickyriky
|
|
August 18, 2019, 08:25:01 PM |
|
What is everyone saying about the Facebook cryptocurrency Libra? I have really not been following up their waves of news. My question is, will it scale and do well?
If you say you are not following the news about Libra, why are you writing here, answering the question the guy asked? As for this FB coin, I believe that private companies, such as Facebook, which issue their own tokens and compete with fiat currencies in the free market, where participants have the opportunity to choose which is better for them to use, will bring unconditional benefit to users of digital currencies around the world. |
|
|
|
|
bryant.coleman
Legendary
Offline
Activity: 3654
Merit: 1217
|
|
August 19, 2019, 01:45:50 AM |
|
The Facebook libracoin is yet to be available for purchase, Infact it's been a long time since we last heard about the project. I don't know if they will be holding a public sale or a private sale, I only hope the initiative of the project hasn't been truncated by the United States government.
Libra is expected to be launched by mid-2020, if everything goes as per their plan. But the problem is that not "everything" is going as per their plan. Last month, the Senate Banking Committee conducted a hearing on Libracoin. And from what I have heard, the response was mostly negative, as well as hostile. A number of senators, including Brian Schatz, Kyrsten Sinema, Pat Toomey and Chris Van Hollen participated in the hearing, with the most hostile reaction coming from Van Hollen. Schatz indirectly said that given the recent issues faced by FB (especially those related to data-privacy and election-meddling), they should not be taking the lead on a cryptocurrency project. |
|
|
|
|
freedomgo
Legendary
Offline
Activity: 3094
Merit: 1144
|
|
August 19, 2019, 03:10:57 AM |
|
The Facebook libracoin is yet to be available for purchase, Infact it's been a long time since we last heard about the project. I don't know if they will be holding a public sale or a private sale, I only hope the initiative of the project hasn't been truncated by the United States government.
Libra is expected to be launched by mid-2020, if everything goes as per their plan. But the problem is that not "everything" is going as per their plan. Last month, the Senate Banking Committee conducted a hearing on Libracoin. And from what I have heard, the response was mostly negative, as well as hostile. A number of senators, including Brian Schatz, Kyrsten Sinema, Pat Toomey and Chris Van Hollen participated in the hearing, with the most hostile reaction coming from Van Hollen. Schatz indirectly said that given the recent issues faced by FB (especially those related to data-privacy and election-meddling), they should not be taking the lead on a cryptocurrency project. But they can't prevent facebook from doing their plan, maybe there will be some delays next year but I think they will successfully launch this. It could be negative but as long as there's no law that bans this people from running a project like Libra, facebook will eventually find ways to pass all the strict requirements US government may implement to them, and I also believe that they have already foreseen all these kinds of possibilities so they are ready for this. |
|
|
|
|
voltesbit777
|
|
August 20, 2019, 05:15:17 AM |
|
I am determined to buy FB coin Libra even though it is not available yet. I hope it is available on exchanges where i can buy easily.
Will it be a threat to BTC and other altcoins? I am afraid that the prices of BTC and other altcoins will go down. It makes me hesitate to buy some currencies like TRX currently.
Perhaps, your not the only person here in the forum who are interested to buy FB coin libra, but the thing problems is that their launching is not happening yet, actually there is no announcement so far when will be launch anyway. So, expect a huge of investors will attempt to buy em for sure. |
|
|
|
|
Abiky
Legendary
Offline
Activity: 3192
Merit: 1359
www.Crypto.Games: Multiple coins, multiple games
|
|
August 20, 2019, 08:57:39 PM |
|
Libra is expected to be launched by mid-2020, if everything goes as per their plan. But the problem is that not "everything" is going as per their plan. Last month, the Senate Banking Committee conducted a hearing on Libracoin. And from what I have heard, the response was mostly negative, as well as hostile. A number of senators, including Brian Schatz, Kyrsten Sinema, Pat Toomey and Chris Van Hollen participated in the hearing, with the most hostile reaction coming from Van Hollen. Schatz indirectly said that given the recent issues faced by FB (especially those related to data-privacy and election-meddling), they should not be taking the lead on a cryptocurrency project.
Unfortunately, things will not be so easy for Facebook to launch Libra as promised by 2020. We've already seen many governments opposing the same, especially the US. Since Facebook's homeland country is the US, it needs to strictly follow its regulations if it wants to have a successful launch in the future. Then, it could comply with regulations from other countries worldwide as it expands its operations. But, knowing that central banks have been in power for quite some time, it'll be nearly impossible to launch a worldwide digital currency by its own. The biggest disadvantage of Facebook's Libra cryptocurrency would be its full transparency towards the company itself and worldwide governments. Considering that Facebook has been a threat to people's privacy, it could very well obtain sensitive information among transactions performed within the Libra blockchain. In effect, people would lack the ability to control their own money (contrary to Bitcoin and other decentralized cryptocurrencies) greatly defeating the purpose of a Blockchain. Which is why, I don't see Libra going anywhere even after its launch within the mainstream world. Nonetheless, Facebook's cryptocurrency may only be a dream as it wouldn't be able to launch in the future because of oppressive governments worldwide. They believe that Libra will replace existing Fiat currencies as people will tend to use it more than anything else. Since governments want to maintain control of the monetary system, they won't allow this to happen anytime soon. In the bright side, Bitcoin and other decentralized cryptocurrencies will continue to function as intended for a very long time no matter what happens with Libra. Just my thoughts  |
|
|
|
|
Viceroy
|
|
September 22, 2019, 10:34:07 PM |
|
Sounds like Libra has split community into those who is totally against it and those who support it wholeheartedly.and beware, btc;)
|
|
|
|
|
|
Vaculin
|
|
September 23, 2019, 09:45:31 AM |
|
Sounds like Libra has split community into those who is totally against it and those who support it wholeheartedly.and beware, btc;)
It's expect as not everyone has the same understand on the potential of Libra, not even all knew that Libra is a stable coin. For me, I'm very positive that Libra will bring positive result to the future of crypto, though it's a stable coin but it's effect on bitcoin and altcoins is gonna be enormous, imagine if it's able to have at least 50% of facebook users to use the platform, maybe we can get 10% of them to be curious and eventually discover the potential of crypto in general. |
|
|
|
|
|
dearbesz1219
|
|
September 23, 2019, 09:49:29 AM |
|
Facebook Libra test version was not even launched and it is clear that thanks to regulations Libra will not be launched in the European Union, the USA and China. Then where will it work as an international currency?  |
|
|
|
|
Lexurdania
Member
Offline
Activity: 840
Merit: 10
|
|
September 23, 2019, 11:50:04 AM |
|
I am determined to buy FB coin Libra even though it is not available yet. I hope it is available on exchanges where i can buy easily.
Will it be a threat to BTC and other altcoins? I am afraid that the prices of BTC and other altcoins will go down. It makes me hesitate to buy some currencies like TRX currently.
I don't think Libra Coin will be a threat to Bitcoin or other cryptocurrency. Bitcoin is a digital asset while Libra Coin is a stable coin that is like fiat money. Maybe even Libra Coin will be able to increase market cap value because investors will be more confident in the existence of coins from large companies |
|
|
|
Menawi12
Member
Offline
Activity: 700
Merit: 10
|
|
September 23, 2019, 12:32:54 PM |
|
There's yet no news of its launch probably due to some government interest and regulatory issues which have to be complied to before its launch. I'm expectant as well will invest all I can in the project if it launches.
Indeed there is still no news about Libra Coin due to regulatory issues and also its influence in the monetary world. I think the government will be disturbed by its authority in controlling the circulation of money because it is feared that with a large number of members spread throughout the world, it is feared that it will disrupt the dominance of the dollar. |
|
|
|
Seghokendil
Jr. Member
Offline
Activity: 308
Merit: 1
|
|
September 26, 2019, 06:38:22 PM |
|
I have not seen any signs of an official Facebook coin appearing.
I think it is not a serious threat to BTC, it's just an impact on the adoption of crypto, I mean if the Facebook coin is released soon this will attract market investment and also attract the attention of new and old investors.
|
|
|
|
|
|
ganeshramk
|
|
September 26, 2019, 06:41:02 PM |
|
First they have to get ready with the coin and launch it for public. Even today they did not confirm any dates. So you really need to wait for that.
|
|
|
|
|
|
santiPOGI
|
|
September 26, 2019, 06:48:06 PM |
|
I hope there will be no pre-sale for the LIBRA or even private investors (exclusive)
Libra can pull the trigger and go to the moon, there is too much hype on this and attention from the people.
Even the token is not out in the public the demand can tell already. i hope they will go all out on public sales.
I think this Fb token doesn't need Bounty, airdrop and IEO! its all good.
|
|
|
|
|
|
drumamat
|
|
September 26, 2019, 07:01:23 PM |
|
There's yet no news of its launch probably due to some government interest and regulatory issues which have to be complied to before its launch. I'm expectant as well will invest all I can in the project if it launches.
And the meaning of buying a coin if it is by nature an ordinary stablecoin?Isn't it better to choose more interesting coins for the purchase, which are enough on the market?I think You should reconsider your attitude to investing. |
|
|
|
|
ðºÞæ
Sr. Member
Offline
Activity: 1176
Merit: 297
Bitcoin © Maximalist
|
|
September 26, 2019, 07:09:25 PM
Last edit: October 25, 2019, 04:48:15 PM by ðºÞæ |
|
.
So a private company (Facebook) which been found guilty of data mishandling can see every transaction of another private company (lets say Jeff's Locksmith) or private person (judge, solicitor, clerk, cashier, officer....... ), but (Jeff's Locksmith) cant see anything the other private company (Facebook) is doing.
It the same as playing poker, one player holding the cards facing him, and the other player must have cards face up.
That is a rigged game by any standard, a scam, the one with the face-up cards can not possible win.
A company, player par-taking in this game is not worth anything.
|
"The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling." Satoshi Nakamoto, April 2009 Avoiding taxes is totally legal if you consider and respect the law.
|
|
|
|
Xanxus024
|
|
September 26, 2019, 09:31:09 PM |
|
I have heard that facebook will have a project so it's likely to say that many will be interested in the facebook crypto project and I'm sure many investors will invest in facebook ieo.
Yeah, I also heard that too, many contributors for sure will be more interested to invest in to that project and if that happens it's gonna be a big impact in crypto world. |
|
|
|
|
|
