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Author Topic: Will you use a Facebook coin?  (Read 615 times)
babysweetTiger0401
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August 04, 2019, 07:50:31 AM
 #41

My attitude is - no way!!

I don't use Facebook, and I don't like their lack of privacy and security. They seem to be talking about pegging the coin to a bunch of fiat currencies, and that is another big disincentive for me. I suspect we will start to see some government or banking based cryptos, and I'll probably end up using a couple of those alongside Bitcoin.

I can hold the coins of Facebook temporarily as an investment onl, but it doesn't mean I will use FB to make transaction in terms sending money, no I won't do it.  Because still Bitcoin is the best potential and have a better future to hold in a long term.
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August 04, 2019, 09:02:39 AM
Merited by vapourminer (1)
 #42

<>

As stated in the reply you quoted, Libra is going to be pegged and to multiple currencies and not just one, this makes it a stable currency.
It's primary objective is to be used for daily payments and leverage on the blockchain to make transactions seamless while having low volatilty and requiring permissions, so it's still somewhat like your traditional fiat currency.
Early investors would get a bit of profit but revenue generated would be reinvested back into the project and majorly to associate partners:

Users of Libra do not receive a return from the reserve. The
reserve will be invested in low-risk assets that will yield interest over time. The revenue from this
interest will first go to support the operating expenses of the association — to fund investments
in the growth and development of the ecosystem, grants to nonprofit and multilateral organizations,
engineering research, etc. Once that is covered, part of the remaining returns will go to pay dividends
to early investors in the Libra Investment Token for their initial contributions. Because the assets in
the reserve are low risk and low yield, returns for early investors will only materialize if the network
is successful and the reserve grows substantially in size

You should also note that the concluding part of the quote in italics is no longer on the website but is on the original white paper. May be an issue from my end, but this sort of centralization is one of the reasons I do not consider it a good investment for cryptocurrency enthusiasts.
bitgoldpanther1978
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August 04, 2019, 02:54:23 PM
 #43

I will only use Facebook as my communication to all people who are closed to me wherever they are.
But I will never use it to make transaction whether it is sending money or not or whatever. Yes, they may have a huge
investors before it launching period but I know the volume won't take long, it will only be the same just like what other centralized coins  happened in crypto currency.
paxmao
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August 05, 2019, 08:59:09 AM
 #44

Does not look like a coin as we know them. I think that Facebook is simply creating an electronic means of transfer with and averaged monetary unit similar to an SDR of the IMF.

This is a bold move from Facebook that is just steping onto the Insurance, Banking, Transference, Direct Sales and even on the monopoly of governments to create money.

My guess is that Facebook will abandon this whole thing eventually. 

The budget of the corporations behind is higher than one from many countries and the volume of the business they are looking to overtake immense. There is a good chance of success and they are going to fight hard for it. Just think of UBER.
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August 05, 2019, 01:00:15 PM
 #45

The budget of the corporations behind is higher than one from many countries and the volume of the business they are looking to overtake immense. There is a good chance of success and they are going to fight hard for it. Just think of UBER.

Welp, but at least Uber offered a rather neccesary service; as taxis (at least here) had quite the monopoly/mob.
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August 09, 2019, 03:12:23 PM
 #46

No as I don't care much for Facebook.

If AMD  NVIDA or INTEL  made gear backed coins.

  I would support them.
Prospector_John
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August 13, 2019, 02:46:50 AM
 #47

Libra obviously sucks. What about Telegram's TON coin??

I have not found truly coherent info on this project, but saw a couple pages indicating that it will reboot soon. Anybody have GREAT info?

(I just realized this looks like a shill, not shilling! swear to god! just curious)
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August 13, 2019, 06:55:42 AM
 #48

It depends on the adoption. While I don't like Libra since it's a centralized currency at the start and pegged to fiat basket, but if more and more people are to use it and accept it as a day-to-day currency, I may soon need to use it.

Just like fiat when you to travel to another country, you will have to exchange and use the accepted currency in that country (sort of like forced) to be able to avail of goods and services that you need.

Seratruong
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August 13, 2019, 07:37:20 AM
 #49

Yes, if the blockchain system is more secure. People in my country use Facebook and a majority of them have lost their personal information. It's really annoying.
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August 13, 2019, 09:33:09 PM
 #50

I use Facebook, but I don't like the idea of a Facebook coin. I don't see the point, the coin could only be usable in Facebook and would probably have no value whatsoever in the outside market. They just want to hop on the crypto bandwagon but they don't fit to it.
thirdprize
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August 16, 2019, 02:08:55 PM
 #51

Are you going to use Libra?  No
Is your granny going to use Bitcoin?  No

Two completely different use cases.
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