Why Do Crypto Enthusiasts Hate Facebook Coin?

[Augustyusuf]

because facebook or Libra project has a great and big potential for achieving success, it proofed by many big project already being partnered and support Libra project.

[enhu]

Libra I think has made BTC or crypto more popular, why would they hate facebook coin, they couldn't care less about it. These enthusiast may not even have facebook account. Wa all hate the KYC, the more we hate it if the company spy on us and our buying habit but while this hate doesn't become helpful, facebook doesn't care about this anger as well. But right now, it appears they are going to make BTC widely accepted.

[Om.monata]

I think crypto fans who hate Facebook coins don't understand the coin at all. even if they can understand I am sure they will invest and make a profit from the coin

[ishirut009]

I understand that Libra coin is "centralized", but so is XRP...How can you love XRP, but hate Libra coin? Granted, I don't support or like FB, but this is a giant step towards mainstream adoption. This is a HUGE turning point for this community. If you read the article linked below, you can see how many ppl despise this coin. They think that this is "bad" for the community, but in actuality this is a giant step towards mainstream adoption/acceptance.

https://tipestry.com/topics/5d11121313fe3c5fa63e0ffd/zuckbucks-are-bullshit

because libra coin is just a stable coin like usdt so we wont be able to make money off of it. That is why people love xrp and hate libra. And i think that libra coin have really nothing to do with the crypto world besides from making cryptocurrencies known all over the world which is i think a massive thing too when it comes to crypto adoption.

[hulla]

I understand that Libra coin is "centralized", but so is XRP...How can you love XRP, but hate Libra coin?

You get it all wrong here buddy for no genuine crypto enthusiasts like every cryptocurrency that's decentralized in nature and XRP was supported by the private companies with the institutions which you should have already know through it price movement.

I don't support or like FB, but this is a giant step towards mainstream adoption. This is a HUGE turning point for this community. If you read the article linked below, you can see how many ppl despise this coin. They think that this is "bad" for the community, but in actuality this is a giant step towards mainstream adoption/acceptance.

https://tipestry.com/topics/5d11121313fe3c5fa63e0ffd/zuckbucks-are-bullshit

You're right Facebook coin (Libra) could be a giant step for cryptocurrency been the mainstream of payment since a couple of institutions are already understanding the benefit of crypto which is why I slightly support facebook coin.

[poodle63]

I understand that Libra coin is "centralized", but so is XRP...How can you love XRP, but hate Libra coin? Granted, I don't support or like FB, but this is a giant step towards mainstream adoption. This is a HUGE turning point for this community. If you read the article linked below, you can see how many ppl despise this coin. They think that this is "bad" for the community, but in actuality this is a giant step towards mainstream adoption/acceptance.

https://tipestry.com/topics/5d11121313fe3c5fa63e0ffd/zuckbucks-are-bullshit

because libra coin is just a stable coin like usdt so we wont be able to make money off of it. That is why people love xrp and hate libra. And i think that libra coin have really nothing to do with the crypto world besides from making cryptocurrencies known all over the world which is i think a massive thing too when it comes to crypto adoption.

Who said people loves XRP? XRP has so many haters as well because it's simply accused of being a cryptocurrency made by bankers and is actually centralized but capital solve all those problems. People will still use XRP anyway because of the huge liquidity.

[chocopapaya]

Um, everyone hates xrp.
Just because it is the 3rd biggest coin doesn't mean people like it you know.

For Libra, you really need to think, "What kind of mainstream adoption do I want?"
Just because it is mainstream doesn't mean it is good.
In fact, blockchain was first designed to go against the mainstream financial institutions.
For crypto enthusiasts, it is not just about making money, it is about the evolution on how we interact and do business with each other.

Libra is a step in the wrong direction.
They are taking the best parts of blockchain and trying to control it.
A good analogy would be the debate on internet bandwith in america where major corporations want to be able to control bandwith and charge for more.

Satoshi made bitcoin to provide a way to circumvent these big banks and megacorporations, not give them more control.

[akeegan]

It's centralized and will become a track record for analyzing all the data found within wallets. Facebook knows more about us than we realize and they will soon have our transaction information. There are privacy focused crypto projects like Elixxir that are educating people about the importance of their personal data both for payments and how we interact via social apps. I highly recommend everyone to look into this topic

[South Park]

I understand that Libra coin is "centralized", but so is XRP...How can you love XRP, but hate Libra coin? Granted, I don't support or like FB, but this is a giant step towards mainstream adoption. This is a HUGE turning point for this community. If you read the article linked below, you can see how many ppl despise this coin. They think that this is "bad" for the community, but in actuality this is a giant step towards mainstream adoption/acceptance.

https://tipestry.com/topics/5d11121313fe3c5fa63e0ffd/zuckbucks-are-bullshit

The people that hate ripple are the same people that hate this new facebook coin, and they hate it for the same reasons, it is a centralized coin controlled by a big corporation that wants to take your privacy away by all means available to them, however that is not going to stop this new coin to be extremely popular among many members of the community so I am not worried about the success of this coin, however even if this is a step in the long road towards adoption I do not consider it a forward step, after all what is the point of having cryptocurrencies becoming more popular if the coins that are the most used are the same as fiat?

[kindbtc]

No serious investor or crypto entrepreneur will hate fb coin because as long as it is positive for crypto market and as long as it is associated to blockchain technology it is going to be good for crypto market.

[zhekinsp]

I understand that Libra coin is "centralized", but so is XRP...How can you love XRP, but hate Libra coin? Granted, I don't support or like FB, but this is a giant step towards mainstream adoption. This is a HUGE turning point for this community. If you read the article linked below, you can see how many ppl despise this coin. They think that this is "bad" for the community, but in actuality this is a giant step towards mainstream adoption/acceptance.

https://tipestry.com/topics/5d11121313fe3c5fa63e0ffd/zuckbucks-are-bullshit

Is any crypto enthusiast said that they support XRP? So you can expect yes for Libra as well because the answer is simple its centralized.

They are doing this for users welfare or for their profits? This against and again say what is you thought about libra.

[adekogbe]

The main purpose for which bitcoin and cryptocurrency were created was to create a decentralized system that is without the interference of government or centralized organizations.
It already seems that will be hard to achieve because the crypto world still needs to have some government regulations in order to achieve main stream usage.
Hating facebook coin because of its centralized nature is pointless because it will promote more adoption of cryptocurrencies for the world

[Ayobami99]

i actually thought Libra such as the name suggests should connote freedom but the reverse is the case with Libra coin. I still believe Facebook should first answer to the user data leakages first before proceeding with Libra Coin. They said Libra will not be connected with user's facebook profile but the question is 'how true is that?'.

[Emilyp]

I'm indifferent about the Libra coin but one thing I know is that it's good for crypto. It will only speed up adoption and pull interests from big corporations.

[premiumproductss]

Because they are laughing at the concept of this "coin". We understand what does blockchain technology and cryptocurrency means. It seems that Facebook not  .

[iTradeChips]

Many people do have negative feedback when it comes to social media and the consequences that it has for millions of users worldwide. The same people who will not show any trust on facebook, twitter, and other social media websites and apps. There are many allegations of mismanagement and selling of private data. And these people will not trust anything coming from the said social media organizations.

[cryptoblazter]

There are some who don't believe with Libra knowing its characteristics as a stablecoin and manage by facebook which will surely collect personal information before you can have Libra jn your account. This in turn, crypto entusiasts give a negative ratings on it. Since a lot of people here started with anonymity, it's really hard to get with the kyc thing.

[reality18]

Well, many speculations around have it that the recent spike in price is as a result of the release of the libra whitepaper. I don't see this as a bane to the crypto space but rather another giant step towards greatness because this is capable of attracting huge investors to the crypto scene.

[andika2018]

I understand that Libra coin is "centralized", but so is XRP...How can you love XRP, but hate Libra coin? Granted, I don't support or like FB, but this is a giant step towards mainstream adoption. This is a HUGE turning point for this community. If you read the article linked below, you can see how many ppl despise this coin. They think that this is "bad" for the community, but in actuality this is a giant step towards mainstream adoption/acceptance.

https://tipestry.com/topics/5d11121313fe3c5fa63e0ffd/zuckbucks-are-bullshit

I think the crypto community does not hate Libra Coin because in the end we only want make profit from our investments. I think crypto community just being vigilant on Libra Coin and the influence on the crypto market

[LbtalkL]

I think because it ruins the main feature of cryptocurrency which is decentralization. Its nature of being centralized fears some crypto enthusiast well its not necessary to use this coin in the future if you want to be safe but on the on the other hand I think it has some good effect it will spread awareness to the public about cryptocurrency in all continents.