Will you use a Facebook coin?

[babysweetTiger0401]

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.

[1713311999]

1713311999

[1713311999]

1713311999

[1713311999]

1713311999

[Upgrade00]

<>

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]

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]

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.

[Csmiami]

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.

[philipma1957]

No as I don't care much for Facebook.

If AMD  NVIDA or INTEL  made gear backed coins.

  I would support them.

[Prospector_John]

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)

[Zero1One0]

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]

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.

[PeRo]

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]

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

Two completely different use cases.

[Peterdav]

I don't know i will use it or not when the coin launch. But if it is a coin that can make profit in investment and business, so i will use it.

[Zemomtum]

I am not planning to use it at the moment but can get along as the event unfolds. The advertisement and public awareness that it will bring to digital currency is the most thing I am keen with. As it has been rightly said, we are sacrificing our personal data for the fee, so there is hiding cost. I am of opinion that it will still be executed despite been in a halt mode for now. They have all the necessary tools: be it in person, capital, network, connections to lobby there way through.

[Initscri]

I don't use Facebook

That pretty much sums it up for me. I would never use any coin related to social media since I simply attempt not to use social media (for the most part)

As such, I couldn't invest in something I already don't have an interest/investment in.

[dengpei]

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.

What if you happen to write something that Mark doesnt agree with? They now have a way to put you in a naughty conner that could also hurt your pocket, they could just freeze you Libra wallet! What if you share the same name with a terrorist who has just bombed the US? Stay away from that shit!

[CherylltheBombshell]

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.

Truest! I suspect the reason behind this is that Facebook has more than 30% of the entire world’s population or 2.38 billion people as its users so they added crypto as its the most outgrown way of earning right?

But still the answer is NO. I will not take the risk using facebook coin as its way different.

I’ve heardy they are also  planning to install ATM-like terminals for people to manage their  coins while out and about. Honestly ita quite enticing but nowadays i dont feel facebook anymore as there’s a lot of security issues happening on that site.


———

[LUCKMCFLY]

I have read a lot about Libra from Facebook, and I think that Libra's purpose is not to compete with any cryptocurrency, nor are they interested in technology, I think they are looking to take advantage of the data that they have crossed through the network social to somehow link people to enter their business model.

Both Facebook and Google have always had bad intentions, this according to "Edward Snowden" at https://www.youtube.com/watch?v=e-5KFP-BKr8, where clearly our privacy will be affected, and I think that within Some years if nothing is done about it, it will not exist. Libra will develop business models worldwide, the impact is beginning to be seen in China where they have placed the magnifying glass, and some other nations have reacted. The positive thing about this is that by energizing every business through technology, Bitcoin will have a price increase because everyone would seek to switch to Bitcoin, making it much higher, and its fall is increasingly difficult.

[boltz]

Libra will for those who want to approach cryptos on a safe mode if I can say this and not for those who wants to trade it / hold it and anything similar. So if my grandma wants to put her pension there , Libra might be a solution for that but personally I would not use anything that come from facebook or social medias.

In the long race I think we already have a coin like this and its name is DogeCoin , I know some of you won't agree with me and its perfectly fine but why would you jump on a safe coin when you already have doge , you think that Libra will be stable in price all the time ? Like if bitcoin goes down , libra will stay at same price ? Because if does stay at the same price , it won't move even if bitcoin goes up or down so this does not make Libra a cryptocurrency and more likely an experiment for those who don't dare to touch cryptos. Just my thought tho...

[BeBlockTech]

I don't trust the guy with my data, am not going to trust him with my money...

[beej]

If facebook coin does push through, I think it will have a short lifespan in the cryptocurrency
market. Well for sure, the social media addicts particularly the die hard facebook users would
indulge in the idea but to what extent. It's pointless, facebook has it's own unique specialty, it's
addictive to some, it's alluring to the youth and they posses a huge massive influence today,
but it's not gonna do well if it does indeed propel itself in launching it's own cryptocurrency.
It's gonna hit a wall inevitably.