Bitcoin Forum
February 27, 2020, 11:51:34 PM *
News: Latest Bitcoin Core release: 0.19.0.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1] 2 »  All
  Print  
Author Topic: Facebook coin Libra already targeted by US government  (Read 338 times)
Baofeng
Hero Member
*****
Offline Offline

Activity: 1064
Merit: 833


View Profile
June 19, 2019, 07:14:36 AM
Merited by OgNasty (2), Herbert2020 (1), DdmrDdmr (1)
 #1

Quote
Rep. Patrick McHenry, senior Republican on the House Financial Services Committee, wrote a letter Tuesday to committee Chair Maxine Waters, a Democrat, demanding a hearing on the Facebook cryptocurrency initiative.

Maxine's full statement is below. What is most surprising is that she is, don't shoot us, right.

Facebook has data on billions of people and has repeatedly shown a disregard for the protection and careful use of this data. It has also exposed Americans to malicious and fake accounts from bad actors, including Russian intelligence and transnational traffickers. Facebook has also been fined large sums and remains under a Federal Trade Commission consent order for deceiving consumers and failing to keep consumer data private, and has also been sued by the government for violating fair housing laws on its advertising platform.

“With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users. The cryptocurrency market currently lacks a clear regulatory framework to provide strong protections for investors, consumers, and the economy. Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies. Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action. Facebook executives should also come before the Committee to provide testimony on these issues.”

https://www.zerohedge.com/news/2019-06-18/maxine-waters-demands-facebook-stop-all-development-libra-crypto-project

Libra hasn't started yet but it looks like the US government wanted to bring it down already. No less than a congressional hearing is being requested here and bring some light about this so called coin. US are really coming down hard in recent days on everything that is related to crypto. But this time, they wanted to shoot it down before it goes on a full blown and un-controllable situation.

..bustadice..         ▄▄████████████▄▄
     ▄▄████████▀▀▀▀████████▄▄
   ▄███████████    ███████████▄
  █████    ████▄▄▄▄████    █████
 ██████    ████████▀▀██    ██████
██████████████████   █████████████
█████████████████▌  ▐█████████████
███    ██████████   ███████    ███
███    ████████▀   ▐███████    ███
██████████████      ██████████████
██████████████      ██████████████
 ██████████████▄▄▄▄██████████████
  ▀████████████████████████████▀
                     ▄▄███████▄▄
                  ▄███████████████▄
   ███████████  ▄████▀▀       ▀▀████▄
               ████▀      ██     ▀████
 ███████████  ████        ██       ████
             ████         ██        ████
███████████  ████     ▄▄▄▄██        ████
             ████     ▀▀▀▀▀▀        ████
 ███████████  ████                 ████
               ████▄             ▄████
   ███████████  ▀████▄▄       ▄▄████▀
                  ▀███████████████▀
                     ▀▀███████▀▀
           ▄██▄
           ████
            ██
            ▀▀
 ▄██████████████████████▄
██████▀▀██████████▀▀██████
█████    ████████    █████
█████▄  ▄████████▄  ▄█████
██████████████████████████
██████████████████████████
    ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
    ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
       ████████████
......Play......
1582847494
Hero Member
*
Offline Offline

Posts: 1582847494

View Profile Personal Message (Offline)

Ignore
1582847494
Reply with quote  #2

1582847494
Report to moderator
100% First Deposit Bonus Instant Withdrawals Best Odds 10+ Sports Since 2014 No KYC Asked Play Now
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1582847494
Hero Member
*
Offline Offline

Posts: 1582847494

View Profile Personal Message (Offline)

Ignore
1582847494
Reply with quote  #2

1582847494
Report to moderator
1582847494
Hero Member
*
Offline Offline

Posts: 1582847494

View Profile Personal Message (Offline)

Ignore
1582847494
Reply with quote  #2

1582847494
Report to moderator
figmentofmyass
Legendary
*
Online Online

Activity: 1302
Merit: 1153


Objective Standards Guild: https://bit.ly/2P79Dxh


View Profile
June 19, 2019, 07:28:06 AM
Merited by OgNasty (1), Baofeng (1)
 #2

Quote
The cryptocurrency market currently lacks a clear regulatory framework to provide strong protections for investors, consumers, and the economy. Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies.

it seems like they're gonna use this as an excuse to usher in new legislation, and hastily at that. fingers crossed that the regulations aren't too heavy handed.....it sure sounds like they will be. Undecided

somebody must have sent out a memo on crypto to all the USA agencies. the SEC, CFTC, IRS, and now congress are all swooping in at once. i'm getting a bad feeling in the pit of my stomach.

Juggy777
Hero Member
*****
Offline Offline

Activity: 1232
Merit: 534



View Profile
June 19, 2019, 07:45:22 AM
 #3

Quote
Rep. Patrick McHenry, senior Republican on the House Financial Services Committee, wrote a letter Tuesday to committee Chair Maxine Waters, a Democrat, demanding a hearing on the Facebook cryptocurrency initiative.

Maxine's full statement is below. What is most surprising is that she is, don't shoot us, right.

Facebook has data on billions of people and has repeatedly shown a disregard for the protection and careful use of this data. It has also exposed Americans to malicious and fake accounts from bad actors, including Russian intelligence and transnational traffickers. Facebook has also been fined large sums and remains under a Federal Trade Commission consent order for deceiving consumers and failing to keep consumer data private, and has also been sued by the government for violating fair housing laws on its advertising platform.

“With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users. The cryptocurrency market currently lacks a clear regulatory framework to provide strong protections for investors, consumers, and the economy. Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies. Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action. Facebook executives should also come before the Committee to provide testimony on these issues.”

https://www.zerohedge.com/news/2019-06-18/maxine-waters-demands-facebook-stop-all-development-libra-crypto-project

Libra hasn't started yet but it looks like the US government wanted to bring it down already. No less than a congressional hearing is being requested here and bring some light about this so called coin. US are really coming down hard in recent days on everything that is related to crypto. But this time, they wanted to shoot it down before it goes on a full blown and un-controllable situation.

This is a quick decision by USA it’ll interesting what conditions they’ll impose on Facebook coins, however all should remember that those conditions won’t effect bitcoins. Facebook Coin is a centralised stable coin, and Bitcoin is a decentralised coin hence bitcoin won’t be effected at all.

.BitDice.               ▄▄███▄▄
           ▄▄██▀▀ ▄ ▀▀██▄▄
      ▄▄█ ▀▀  ▄▄█████▄▄  ▀▀ █▄▄
  ▄▄██▀▀     ▀▀ █████ ▀▀     ▀▀██▄▄
██▀▀ ▄▄██▀      ▀███▀      ▀██▄▄ ▀▀██
██  ████▄▄       ███       ▄▄████  ██
██  █▀▀████▄▄  ▄█████▄  ▄▄████▀▀█  ██
██  ▀     ▀▀▀███████████▀▀▀     ▀  ██
             ███████████
██  ▄     ▄▄▄███████████▄▄▄     ▄  ██
██  █▄▄████▀▀  ▀█████▀  ▀▀████▄▄█  ██
██  ████▀▀       ███       ▀▀████  ██
██▄▄ ▀▀██▄      ▄███▄      ▄██▀▀ ▄▄██
  ▀▀██▄▄     ▄▄ █████ ▄▄     ▄▄██▀▀
      ▀▀█ ▄▄  ▀▀█████▀▀  ▄▄ █▀▀
           ▀▀██▄▄ ▀ ▄▄██▀▀
               ▀▀███▀▀
        ▄▄███████▄▄
     ▄███████████████▄
    ████▀▀       ▀▀████
   ████▀           ▀████
   ████             ████
   ████ ▄▄▄▄▄▄▄▄▄▄▄ ████
▄█████████████████████████▄
██████████▀▀▀▀▀▀▀██████████
████                   ████
████                   ████
████                   ████
████                   ████
████                   ████
████▄                 ▄████
████████▄▄▄     ▄▄▄████████
  ▀▀▀█████████████████▀▀▀
        ▀▀▀█████▀▀▀
▄▄████████████████████████████████▄▄
██████████████████████████████████████
█████                            █████
█████                            █████
█████                            █████
█████                            █████
█████                     ▄▄▄▄▄▄▄▄▄▄
█████                   ▄█▀▀▀▀▀▀▀▀▀▀█▄
█████                   ██          ██
█████                   ██          ██
█████                   ██          ██
██████████████████▀▀███ ██          ██
 ████████████████▄  ▄██ ██          ██
   ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ██          ██
             ██████████ ██          ██
           ▄███████████ ██████▀▀██████
          █████████████  ▀████▄▄████▀
[/]
CryptoBry
Sr. Member
****
Offline Offline

Activity: 1008
Merit: 354



View Profile
June 19, 2019, 10:54:55 AM
 #4



This is just another normal oversight and they gonna conduct hearings for the sake of getting enlightened by the Libra people on many areas of concerns...afterwards nothing will happen. They know that Facebook is and will always be for coming years the most influential social media group and though there are some lawmakers who can opt to break Facebook nothing concrete has been decided. Eventually, there can be some changes on the Libra project as a result of lawmakers' inquiry but it does not mean that this is gonna be the end of the project. There is no visible angst or worry from massive members of the country about it...am sure that in between the government and Facebook many will choose Facebook and will thrash the government.
Kemarit
Legendary
*
Offline Offline

Activity: 1554
Merit: 1182


invest.matrixport.dev - Grow your wealth!


View Profile
June 19, 2019, 12:51:28 PM
Merited by OgNasty (1)
 #5

Quote
The cryptocurrency market currently lacks a clear regulatory framework to provide strong protections for investors, consumers, and the economy. Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies.

it seems like they're gonna use this as an excuse to usher in new legislation, and hastily at that. fingers crossed that the regulations aren't too heavy handed.....it sure sounds like they will be. Undecided

somebody must have sent out a memo on crypto to all the USA agencies. the SEC, CFTC, IRS, and now congress are all swooping in at once. i'm getting a bad feeling in the pit of my stomach.

Scary thought, but it has some weight on it.

[1] CFTC launches action against UK-based crypto scheme Control-Finance
[2] SEC sues Kik for US$100M for ‘illegal’ securities offering of digital tokens

@CryptoBry - I don't think that those powerful men and women will just go on that requested hearing and then get nothing out of it. For sure they have vested interest here and it doesn't look good right now if you are a US based crypto enthusiast.


  ████                                ███
  ███████                    ██████
  ██████████        █████████
  █████████████████████
██████████            ██████████████       ██████████
█████████████
              ████████          █████████████
████████████████                            ████████████████
████████████████████            ████████████████████
██████  ███████████████    ███████████████  ██████
██████          ████████████████████████          ██████
██████                ██████████████████                ██████
██████                      ████████████                      ██████
██████          █                ██████                █          ██████
██████          ████                                ████          ██████
██████          ████████                ████████          ██████
██████          ███████████    ███████████          ██████
██████              ████████████████████              ██████
██████                    ██████████████                    ██████
██████                          ████████                          ██████
██████████████████████████████████████████████



  ████▄▄▄                ▄▄▄████
  █████████        █████████
          ██████████████       
               ▀▀▀███▀▀▀         

  ████▄▄▄                ▄▄▄████
  █████████        █████████
          ██████████████       
               ▀▀▀███▀▀▀         

Grow Your Wealth Today!


  ████▄▄▄                ▄▄▄████
  █████████        █████████
          ██████████████       
               ▀▀▀███▀▀▀         

  ████▄▄▄                ▄▄▄████
  █████████        █████████
          ██████████████       
               ▀▀▀███▀▀▀         

Download Our
Investment App

for Android & iOS

████
██████
█████████
█████████████
████████████████
████████████████████
████████████████████████
████████████g█████████
██████████g████████
████████g██████
██████g██████
██████████
██████
███

                 ████
                ████
                ▀▀
     ,▄▄▄▄▄▄      ▄▄▄▄▄▄
   o████████▄██▄████████
  ████████████████████
 d███████████████████
,███████████████████
`███████████████████
 ████████████████████
 █████████████████████
  ████████████████████████
   ██████████████████████
    ████████████████████
     `████▀▀  ▀▀██████
LTU_btc
Hero Member
*****
Offline Offline

Activity: 1526
Merit: 813



View Profile WWW
June 19, 2019, 08:49:47 PM
Merited by OgNasty (1)
 #6

Interesting. I didn't expected thst US government may start actions against Facebook coin Libra. Mainly because it has not much common with crypto. Libra will be centralized stablecoin. It interesting how this story will develop, but I doubt that US government will stop this big project.
Bitcoin will be junk/trash after ban in 2 big countries

https://bitcointalk.org/index.php?topic=5152399.0
Sorry, but I think it's nonsense, and it's not related with this topic at all.




▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄    ▄▄▄▄                  ▄▄▄   ▄▄▄▄▄        ▄▄▄▄▄   ▄▄▄▄▄▄▄▄▄▄▄▄    ▄▄▄▄▄▄▄▄▄▄▄▄▄▄   ▄▄▄▄▄▄▄▄▄▄▄▄▄▄   ▄▄▄▄▄▄▄▄▄▄▄
 ▀████████████████▄  ████                 █████   ▀████▄    ▄████▀  ▄██████████████   ████████████▀  ▄█████████████▀  ▄█████████████▄
              ▀████  ████               ▄███▀███▄   ▀████▄▄████▀               ████   ████                ████                   ▀████
   ▄▄▄▄▄▄▄▄▄▄▄█████  ████              ████   ████    ▀██████▀      ██████████████▄   ████████████▀       ████       ▄▄▄▄▄▄▄▄▄▄▄▄████▀
   ██████████████▀   ████            ▄███▀     ▀███▄    ████        ████        ████  ████                ████       ██████████████▀
   ████              ████████████▀  ████   ██████████   ████        ████████████████  █████████████▀      ████       ████      ▀████▄
   ▀▀▀▀              ▀▀▀▀▀▀▀▀▀▀▀   ▀▀▀▀   ▀▀▀▀▀▀▀▀▀▀▀▀  ▀▀▀▀        ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀   ▀▀▀▀▀▀▀▀▀▀▀▀        ▀▀▀▀       ▀▀▀▀        ▀▀▀▀▀

#1 CRYPTO CASINO & SPORTSBOOK
 WELCOME
BONUS
.INSTANT & FAST.
.TRANSACTION.....
.PROVABLY FAIR.
......& SECURE......
.24/7 CUSTOMER.
............SUPPORT.
BTC      |      ETH      |      LTC      |      XRP      |      XMR      |      BNB      |     more
dothebeats
Legendary
*
Offline Offline

Activity: 2114
Merit: 1164


Crypto-Games.net: Multiple coins, multiple games


View Profile
June 19, 2019, 08:56:40 PM
 #7

It seems that the government (the US in particular) is ready to jump on whatever things that might get uncontrolled knowing that a lot of people would surely support it. In the case of Facebook and Libra, they have stressed that Facebook Inc. has already been fined a lot of times due to their malpractices with their tech, but seriously is that enough grounds to lay waste on their new tech? I think not. Also, their regulators are one of the worst in the world and doesn't seem to have any sort of plan to even help the rising demands for a comprehensible regulations on new Fintech such as cryptocurrencies. The US government has always been a bully to everyone, so it's no surprise that they would want to shut down Libra before it goes big.

▄▄█████████▄▄
▄█████████████████▄
▄████▀▀▀▀█████▀▀▀▀████▄
████▀██████▀█▀██████▀████
██████████████████████████
▐█████▄███████████████▄█████▌
▐███████▄▄█████████▄▄███████▌
▐██████▀█████████████▀██████▌
▐███████████████████████████▌
▀██████████████████████▀
▀████▄████▄▀▀▄████▄████▀
▀███████▀███▀███████▀
▀▀█████████████▀▀
  ▀▀▀▀▀▀▀▀▀
|
★.★.★   8 GAMES   ★   WAGERING CONTEST   ★   JACKPOTS   ★   FAUCET   ★.★.★
  ▄▄▄
▄█ ▄▀█▄
██ ▄▀██
 ▀▄▄█▀
  ▄▄▄
▄█▀ ▀█▄
██   ██
 ▀█▄█▀
  ▄▄▄
▄█▀█▀█▄

 ▀███▀
  ▄▄▄
▄██▀▄█▄
██▀▄███
 ▀▄▄▄▀
  ▄▄▄
▄█ ▄▀█▄
██ █ ██
 ▀▄▄█▀
  ▄▄▄
▄▀▄▄▄▀▄
█▀▀▀▀▄█
 ▀███▀
  ▄▄▄
▄▀   ▀▄
█  █▄ █
 ▀▄██▀
  ▄▄▄
▄█▀ ▀█▄
██   ██
 ▀█▄█▀
  ▄▄▄
▀ █ ▀
▀▀▄▀▀
 ▀▄█▄
  ▄▄▄
▄█ ▄▀█▄
██ ▄▀██
 ▀▄▄█▀
|
Payme21
Jr. Member
*
Offline Offline

Activity: 252
Merit: 1


View Profile WWW
June 19, 2019, 08:58:14 PM
 #8

I think the politicians are targeting the company (Facebook) as a whole and not just the coin but its inevitable that crypto will soon run the finance world

▀▀▀▀▀█████████   CRYPTON          ▬▬▬▬▬▬▬▬                    
▬▬          Revolutionary Cryptocurrency Exchange
peter0425
Sr. Member
****
Offline Offline

Activity: 1120
Merit: 313


★777Coin.com★ Fun BTC Casino!


View Profile
June 19, 2019, 09:17:31 PM
 #9

I think the politicians are targeting the company (Facebook) as a whole and not just the coin but its inevitable that crypto will soon run the finance world
This could be true. We all know that they have fined $1.6 billion for its privacy issues last year when hackers stoles lots of data from them. Maybe US government wanted  to see how Libra or Facebook can ensure that it won't happen again. Or US is just trying to hide their intentions here by using this as a excuse and break the monopoly of Facebook?

dnpotter
Newbie
*
Offline Offline

Activity: 27
Merit: 0


View Profile WWW
June 19, 2019, 09:37:36 PM
 #10

This is a quick decision by USA it’ll interesting what conditions they’ll impose on Facebook coins, however all should remember that those conditions won’t effect bitcoins. Facebook Coin is a centralised stable coin, and Bitcoin is a decentralised coin hence bitcoin won’t be effected at all.

Yes, an astonishingly quick response.  I guess it's not surprising that there would be a lot of knee-jerk reactions: 5th biggest global company launches ambitious project to develop the "internet of money".  It's like Zuck is going for global domination.  He's just missing his white cat.  Hopefully Libra will attract all government and regulatory attention and take the pressure off the pure coins.
kamBlanV
Full Member
***
Offline Offline

Activity: 443
Merit: 100


Bcnex - The Ultimate Blockchain Trading Platform


View Profile
June 19, 2019, 11:06:00 PM
 #11

I think the US government must classify between stable coins and volatility coins.  we know that large companies like vodafone, visa, mastercard are Libra partners.  Libra is only coin stable with depend on utility.  and in my opinion.  that's a bad decision.

bloodyvio
Full Member
***
Offline Offline

Activity: 546
Merit: 102



View Profile
June 19, 2019, 11:11:11 PM
 #12

because they are centralized, and of course Libra is targeted by the government
that's the risk of crypto being centralized or under control the organization

and this is different from bitcoin because there is no organization in charge or the person behind it

all hail bitcoin BTC BTC BTC

Duzter
Sr. Member
****
Offline Offline

Activity: 980
Merit: 256


www.smartmixer.io


View Profile
June 19, 2019, 11:17:30 PM
 #13

For some reason libra from Facebook has got targeted, but truly this will gets faded off in a short or within months. As the election campaigning has begun, the government is in much need of the support from facebook. Soon the governments around the world will loss control, which is the reason for governments targeting cryptocurrencies.

smartmixer.io▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
Make your Cryptos untraceable!
(( ███████ ((    TELEGRAM    )) ███████ ))
▄▄███████▄▄
▄███████▀███████▄
▄███▀▀▀ ▄▄▄ ▀▀▀███▄
▄███ ▄▀▀▀   ▀▀▀▄ ███▄
████ █  ▄   ▄█ █ ████
████▌▐▌ ▀█▄█▀ ▐▌▐████
▀████ ▀▄  ▀  ▄▀ ████▀
▀████▄ ▀▄▄▄▀ ▄████▀
▀█████▄▄ ▄▄█████▀
▀▀███████▀▀
.

NO LOGS
▄▄███████▄▄
▄██████▀▀▀██████▄
▄█████▀ ▄▄▄ ▀█████▄
▄██████ ▀   █ ██████▄
███████   █▀  ███████
████████▄ ▄ ▄████████
▀████▀         ▀████▀
▀███   ▄   ▄   ███▀
▀███████████████▀
▀▀███████▀▀
.

NO SIGN-UP
▄▄███████▄▄
▄███████████████▄
▄███████▀   ▀█████▄
▄████▀  ▀      █████▄
████     ▄▀▄  ▀ ▀████
███    ▄▀▄ ▄▀▄    ███
▀███▄▄  ▀█ █▀   ▄███▀
▀████████ ████████▀
▀███████████████▀
▀▀███████▀▀
.

70% COMSN
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
MIX NOW!
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
DreamStage
Sr. Member
****
Offline Offline

Activity: 628
Merit: 258


Stake is the best!


View Profile
June 19, 2019, 11:31:59 PM
 #14

I am one of those who accepts it being targeted by US government or any kind of countries government because as it was stated:

Quote
Facebook has data on billions of people and has repeatedly shown a disregard for the protection and careful use of this data. It has also exposed Americans to malicious and fake accounts from bad actors, including Russian intelligence and transnational traffickers.

So i do want it to be stopped before it's too soon to make it free for everyone even if they ask for account verification, 3rd party users can use Libra for their own illegal actions.
Because the first thing it poped out of my mind when i read this Libra coin project was that Facebook in fact is one of the most social medias that uses Private Data for his own beneficial.

And since Libra is a crypto currency (basically) and they want some kind of account validation where they will probably use Users data (once again) those 2 things will not end up quite as expected or even accepted by it's users.
creeps
Full Member
***
Offline Offline

Activity: 742
Merit: 144



View Profile
June 19, 2019, 11:38:42 PM
 #15

because they are centralized, and of course Libra is targeted by the government
that's the risk of crypto being centralized or under control the organization

and this is different from bitcoin because there is no organization in charge or the person behind it

all hail bitcoin BTC BTC BTC
As expected for a too much hype coin, it gets the attention of the government and since its a centralized coin then they have to follow the regulations not unless they create a coin outside the US government since we know there's a big tension there when it comes to regulations. Libra coin should pass this trial or else, this will just become another shitcoin. Bitcoin is extraordinary, no one can beat this giant coin even if the big companies created their own coin.
jakelyson
Legendary
*
Offline Offline

Activity: 1400
Merit: 1053


View Profile
June 19, 2019, 11:44:10 PM
 #16

I think the politicians are targeting the company (Facebook) as a whole and not just the coin but its inevitable that crypto will soon run the finance world

Of course they are, they do not want to give more power to Facebook. As is, Facebook is already too powerful, if you add currency control in its table, it will be too powerful.

I think that it is good that US government wants to regulate this coin as early as possible.

Hopefully Libra will attract all government and regulatory attention and take the pressure off the pure coins.
That is if the government can distinguish stable coin from a decentralized coin. In my opinion, they see Libra and Bitcoin as the same. The worst would be they implement whatever regulation they come up on Libra to Bitcoin as well.
Dreamchaser21
Full Member
***
Offline Offline

Activity: 686
Merit: 108



View Profile
June 19, 2019, 11:46:46 PM
 #17

This is Facebook coin and we know US government are trying to destroy Facebook because of its suspicious security even if the Board Member want Zuckerberg wants him to be out of the company. This is too obvious propaganda, well if ever Facebook failed on this hopefully they will find another option which is to adopt bitcoin alone or to create somewhere else aside from US.
hatshepsut93
Legendary
*
Offline Offline

Activity: 1442
Merit: 1135


( ͡° ͜ʖ ͡°)


View Profile
June 19, 2019, 11:51:22 PM
 #18

My prediction is that Facebook will discuss these concerns with regulators, it will promise to comply with their demands, they will give Facebook green light to launch it, then Facebook will keep doing what they are doing - harvesting data, but the government won't really care as long as Facebook will comply with KYC/AML and other demands, won't pose too much threat to banks, which they won't because not too much people will be using this coin anyway.

Artemis3
Hero Member
*****
Offline Offline

Activity: 574
Merit: 792


★Bitvest.io★ Play Plinko or Invest!


View Profile
June 20, 2019, 02:32:28 AM
 #19

Quote
Rep. Patrick McHenry, senior Republican on the House Financial Services Committee, wrote a letter Tuesday to committee Chair Maxine Waters, a Democrat, demanding a hearing on the Facebook cryptocurrency initiative.

Maxine's full statement is below. What is most surprising is that she is, don't shoot us, right.

Facebook has data on billions of people and has repeatedly shown a disregard for the protection and careful use of this data. It has also exposed Americans to malicious and fake accounts from bad actors, including Russian intelligence and transnational traffickers. Facebook has also been fined large sums and remains under a Federal Trade Commission consent order for deceiving consumers and failing to keep consumer data private, and has also been sued by the government for violating fair housing laws on its advertising platform.

“With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users. The cryptocurrency market currently lacks a clear regulatory framework to provide strong protections for investors, consumers, and the economy. Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies. Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action. Facebook executives should also come before the Committee to provide testimony on these issues.”

Libra hasn't started yet but it looks like the US government wanted to bring it down already. No less than a congressional hearing is being requested here and bring some light about this so called coin. US are really coming down hard in recent days on everything that is related to crypto. But this time, they wanted to shoot it down before it goes on a full blown and un-controllable situation.

Actually this is too convenient for Libra. If anything, i find it suspicious that this representative wants a hearing about it (at this point when it was just announced). This is "free" publicity to get the attention of the public, probably on Zuckerberg controlled social media, so they can play the "sympathy" card.

This coin is already looking bad from it white paper, who knows whats its code looks like. Only an elite of millionaires are allowed to run nodes, and its partially backed in fiat. Its a mess, the like only someone who knows nothing of crypto but wants its own could conceive.

Its technically garbage no matter who is behind it. Zuckerberg could have subcontracted someone elsewhere to develop it, to avoid the monopoly accusation, but to me he actually wants the attention...



.
.BIG WINNER!.
[15.00000000 BTC]


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████

▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░████
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████

██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░

██░▄▄▄▄░████▄▄██▄░░░░
████████████▀▀▀▀▀▀▀██
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄

██░████████░███████░█
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████

▀████████████████████▀




Rainbot
Daily Quests
Faucet
pageraji
Full Member
***
Offline Offline

Activity: 854
Merit: 100



View Profile
June 20, 2019, 02:41:13 AM
 #20

Western union shares immediately declined as news of Libra worldwide, many of these concerns will further eliminate the USD value in the global market, go go libra..

► BLOCKBURN ◄ ★WHERE CRYPTOCURRENCY AND ONLINE GAMING MEET★ ► BLOCKBURN ◄
───●●───●●───●●───●●───●●─[   ABOUT US   ]─●●───●●───●●───●●───●●───
Website|Medium|LinkedIn|Telegram|Reddit|CoinMarketCap
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!