Will Facebook’s Libra Coin be a Game Changer in Crypto Ecosystem

[Mulann2]

Just like how some people are viewing Mark Z. with distrust and skeptics, Libra is seen on the same way in some cryptocurrency circles.

99% of people say Windows sucks but they 90% of them use Windows.
99% of people say they hate banks but most of them have at least one bank account.
The US is the most hated country but thousands try to get in illegally and thousands apply for a green card.
If you ask people about television, almost everyone will say its a waste of time but 3 hours later they are glued to the tv.

It will not be a decision of trusting or not trusting Suckerberg, it will all be about convenience.

I just can't let go without quoting to say thanks for this truthful post, if i had a merit would have merited this post but too bad, anyways just want to say you really hit the nail on the head, people will say one thing and do something different, it is human nature
my best post of the day

[akeegan]

It has been coined the crypto killer due to its unforseen take on data mongering and capital

[LuckyBtc]

I wouldn't mind investing to Libra, its a game changer of course its facebook that is developing it so its must be a huge project which some of us already figured it can kill ETH. ITs its going ot be easy to use Libra to pay just about anything, I don't think people will complain. If it gets bigger, its usually going to be the one that has authority just as we see Binance to be the biggest right now that can dictate which coin to delist.

Facebook can also act with authority one day when this Libra becomes the biggest project that we are hooked into. I hope they don't aim to destroy the crypto market.

Investing in Libra? It's USD pegged and you saying you will invest in USD? Good Luck! Bitcoin is the only way to be free. Facebook owns your person data(If you use FB) and if you use Libra they will own financial data too.

[Leh-Meh]

Will Facebook’s Libra Coin be a Game Changer in Crypto Ecosystem

Facebook’s Libra Coin will be game changer for Facebook. GAME OVER

[dupee419]

Well you should know that Facebook won't be fully taking control of Libra but will still be a heavy part of this cryptocurrency, I saw the white paper, everything and their objectives, and Libra also has other big companies teamed up with them, which can be a big threat to BTC, although it may seem to be a threat yet I don't think these are enough proof that BTC will be dethroned soon from its first spot and being the world's biggest cryptocurrency, the competition may or may not be close but I still think BTC will be staying on that spot for a long period of time.

[target]

If they are giving some Libra coins for free to any facebook user I'd gladly accept them all. I hope they integrate the coin into facebook like out accounts are also gong to be the wallet and we could spend it on facebook too.

If its a game changer, will it kill BTC? I don't think so. This is facebook we are talking, we all know how these big companies ripp us off, they will eventually find ways to get our data, I believe its facebook's ultimate objective here.

[dupee419]

I wouldn't mind investing to Libra, its a game changer of course its facebook that is developing it so its must be a huge project which some of us already figured it can kill ETH. ITs its going ot be easy to use Libra to pay just about anything, I don't think people will complain. If it gets bigger, its usually going to be the one that has authority just as we see Binance to be the biggest right now that can dictate which coin to delist.

Facebook can also act with authority one day when this Libra becomes the biggest project that we are hooked into. I hope they don't aim to destroy the crypto market.

Investing in Libra? It's USD pegged and you saying you will invest in USD? Good Luck! Bitcoin is the only way to be free. Facebook owns your person data(If you use FB) and if you use Libra they will own financial data too.

Quite true, it can be a risk and I see the advantages from having BITCOIN and from having Libra, don't let the hype bring up to you, think about the things that can actually cost you in Libra and also think about the benefits that you can see when investing in Libra, though they may access data from you yet I just do hope that hackers may not be able to breach in as it will really cost you a lot. and because of this I am quite sure that they could at least make everything secured and settled before they set the launch.

Know more about Libra and their partners: techcrunch.com/2019/06/18/facebook-libra/

[Nalbo]

It would certainly be a game changer. Facebook is a company powerful enough to topple a government. It has became one of the important and effective tool to reach to the general public. When Facebook would embrace crypto, a huge discussion would be started around the world about crypto. And if Facebook be able to stick with it's plan to issue a crypto, that would be game changer to every crypto and how people view them.

[kryptqnick]

The social media giant, Facebook has finally revealed the details of its cryptocurrency Libra. Today the platform released its white paper explaining Libra & its testnet before a public launch in the Q1 of 2020.

Additionally, the new Libra coin will allow users to purchase things at local exchange points like grocery stores. Also, enables users to spend it using third-party wallet apps or its own Calibra wallet that will be built on WhatsApp, Messenger, & its own app. The best part is that you can transfer money to people with nearly zero fees.

“Libra’s mission is to enable a simple global currency and financial infrastructure that empowers billions of people.”

Read the complete White Paper of Libra coin

I don't use any kind of money for social networks features and payments inside of applications. I just never need anything to buy. Moreover, while I use Facebook for communications, I am very cautious about their moves and privacy scandals. I don't trust their new coin by default, so they gotta do something really amazing to gain the trust. I also don't like the general concept of this coin. Being backed up by assets - sounds like creating a market over another market, contributing to economic bubbles. And the coin will be centralized, right? So Facebook doesn't trust their users on the matter of pricing. This whole thing might make cryptos even more popular, though, and this can be a good thing.

[Bardman]

Well, one thing is for sure, it will give cryptos A LOT more exposure. They are calling it a cryptocurrency and not digital cash, or digital money. When people see it they will search for cryptocurrencies and will find out about bitcoin, facebook obviously has a ton of exposure, their stock also reacted really well to the news and they got a 10% increase which is huge in normal stocks.

[Reid]

I wouldn't mind investing to Libra,

You're going to invest in a coin that will most likely be pegged to an average value of the most used currencies, like the Euro and the USD?  
Some serious investment plan you have there. How much time did you spend on your research, three, four seconds?

Thank you for that.

What will you get out of it? You are just making money for Suckerberg and also to his colleagues who invested in starting the project. But guess what? They dont really need you to invest in it. They want you to use it.
They will profit again in advertisements and fees.
Even if it has the lowest price in transaction out there, it will still be profit.

I am not questioning all of that. It is a good project.
I am just having goosebumps with the privacy. I am sure they will want you to connect it with your facebook account.
Guess what you have in your profile?
Everything.

Again boys, privacy.

[XCANA]

Looks like this one would liberate cryptocurrency cause most people can relate with the credibility of Facebook period.

Facebook has no credibility mate, they are fond of selling out users data to the buyers(either the government or to other individuals for use), the government are just trying to infiltrate into the world of cryptocurrency and they think that, thorough facebook they can hit the whole world 

[Leh-Meh]

Facebook has no credibility mate, they are fond of selling out users data to the buyers(either the government or to other individuals for use), the government are just trying to infiltrate into the world of cryptocurrency and they think that, thorough facebook they can hit the whole world 

Facebook Libra will be a failure. Learn from former billionaire Anil Ambani. All the hype created by those MBAs and CAs for nonsense. Bitcoin has also run into trouble in many big coutnries.

[Bardman]

Facebook has no credibility mate, they are fond of selling out users data to the buyers(either the government or to other individuals for use), the government are just trying to infiltrate into the world of cryptocurrency and they think that, thorough facebook they can hit the whole world 

Facebook Libra will be a failure. Learn from former billionaire Anil Ambani. All the hype created by those MBAs and CAs for nonsense. Bitcoin has also run into trouble in many big coutnries.

I doubt it will be a failure considering how many big names they have behind and even if they didn't, it's fricking facebook. Their stocks already reacted really positively to it, 10% gains in 3 days and how are they going to fail anyways? A lot of noobs will certainly use it and buy it even if they don't know anything about cryptos.

[Leh-Meh]

I doubt it will be a failure considering how many big names they have behind and even if they didn't, it's fricking facebook. Their stocks already reacted really positively to it, 10% gains in 3 days and how are they going to fail anyways? A lot of noobs will certainly use it and buy it even if they don't know anything about cryptos.

Anil Ambani was 6th richest man in 2008. Few months back, Mukesh Ambani paid $80 million so that Anil Ambani does not go to jail for non-payment.

[rmilly]

It will absolutely change the ecosystem and the way all cryptocurrencies will be like moving forward. Especially the regulations and compliance. Ciphertrace cyber security brought up how their wallet Calibra will require users to go through an intensive AML and KYC process which just means this will have regulators watching closely with that large of user base

[klaaas]

It will absolutely change the ecosystem and the way all cryptocurrencies will be like moving forward.

That is crazy. No way facebook have made some miracle here we have never seen. Just a tracking tool that will profit the mega rich. 

[Payme21]

Its most definitely going to be a game changer if their white paper can be implemented to the last but the problem here is that, are there plans to solve unforseen opposition

[Ridwan Fauzi]

I guess not for cryptocurrency but this will be a game changer for money fiat. If I read the whitepaper that's pointed out facebook made a coin just not for payment system on digital area but they will change a bank traditional with their system. This is no threat for cryptocurrency such as bitcoin, bitcoin will be use as an investment placr actually. I'll agree if bitcoin to be use as payment system then it's still not feasible especially for the fees things. For some people who has a little amount of bitcoin then will use it for investment place only because if they use for payment system they will think about fees that will spend.

[peter0425]

It will absolutely change the ecosystem and the way all cryptocurrencies will be like moving forward. Especially the regulations and compliance. Ciphertrace cyber security brought up how their wallet Calibra will require users to go through an intensive AML and KYC process which just means this will have regulators watching closely with that large of user base

You don't need to look further as US is going to give Libra coin a hard time ->  https://www.coindesk.com/facebook-has-yet-to-answer-us-lawmakers-questions-about-libra-crypto. So just imagine the pressure that Mark Z. is feeling right now. Not again, the company has been fined already and now they are questioning everything again. I'm sure that when the congressional hearing starts, it will be the same over and over again, questions about privacy and data security will be raised.