Should we boycott the Facebook Coin (Project Libra)?

[ahmia39]

Facebook is the antithesis of everything Satoshi stood for.

Should we, as the crypto community, boycott their effort?

I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.

It wouldn't be the first time that a company had engaged in lobbying and rent-seeking to harm competitors.

I think not only Libra, there have been many other coins before Libra that appeared. But the competition is only standard. There is no single coin that can defeat Bitcoin. Because the glory of Bitcoin is hard to match. Maybe if Libra shows up, the competition is XRP. And I think XRP is easy to break by Libra.

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[bitgolden]

Why should we boycott facebook coin? This coin would bring us to massive adoption in cryptocurrency? This is what we should look for, Libra as a gate to open a lot of investors in crypto. Libra is a stable coin just like USDT but this meant something else. You can't grow investment with this but the investments from other coins could grow because of this.

I too do not see any reason why Facebook coin should be giving one unnecessary threat when they have not been tested to be so, we have many people that just woke up suddenly to just hate a project that they don’t even know how it is going to function, or know the real intention of the creator of the coin.

Libra coin is such a project that will actually make the cryptocurrency market very popular because of the large number of populations that they have which I think their users is even enough to make the Libra project itself a success.  Whether we like it or not, Facebook will succeed in releasing their coin, and they will achieve the purpose for which they were establish, because the adopters are already there amongsttheir users. The only achievement that I know Facebook would never get is to grow above bitcoin in popularity.

[Aabcde]

Libra means nothing. Lately, there has been a lot of bad news for Libra. As it is said, Amazon, PayPal, Etc. are out of libra. So we can be sure his presence will not produce anything. Especially if you want to rival bitcoin. Too far level. And it seems like there are also many people who don't like this project.

[wack slacker]

Facebook itself is very greedy.  They sold their shares and now they want to create a currency to pay like any national currency.  In America they banned perfect money so Libra will be banned too.

[yulionoo]

I think it's too soon to say that it will boycott libra. because the coin hasn't been released yet and we don't know that libra has a negative positive effect on cryptocurrency. During this time I think positively with the launch of Libra it will make the crypto market more crowded and famous. if later after it is launched in 2020 libra provides many benefits, of course I will buy it later. but if later this Libra coin can threaten bitcoin then I won't buy I prefer bitcoin.

[TokenHodlr]

We know this is a game show guys.

If you're a damn bankster, just vote yes and move on.

Otherwise, save your credibility.

Either you're a part of the solution or...

[STT]

boycott their effort?

I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.

I dont think a boycott is especially needed, the project will sink or swim on its own efforts.  Yet another centralised attempt to mimic crypto isnt going to go that far anyway, it could be profitable and useful even but I see its of no great concern to proper implementation and innovation within crypto itself.    People will naturally choose what serves their purpose best, its not designed for us its designed for those on facebook who want a value token as easy to use as a like button. 
   In many ways Im interested if they can bring anything interesting and new but really I just expect more of a FIAT paypal type iteration, nothing that exciting.   

Strongarm attempts by big business to lobby and obstruct competitors is to be expected but Bitcoin at least isnt really a corporation that can be attacked in a conventional way.   Really it shouldn't need special consideration to survive, they'll be more tests and the blockchain must stand up by itself I guess.

[ongkok87]

It's up to you for that, but for myself, at the moment, I am no longer looking for altcoin other than bitcoin and ethereum that I have invested. I have been traumatized by many altcoins that exist today and most of them are scams that are very detrimental to us all

Actually we don't need to boycott libra. don't know yet how this libra will be able to benefit us or not. if it is not profitable or detrimental, surely many people will take a stand regarding libra. and now I still believe that libra is a good project under Facebook

[wack slacker]

It's up to you for that, but for myself, at the moment, I am no longer looking for altcoin other than bitcoin and ethereum that I have invested. I have been traumatized by many altcoins that exist today and most of them are scams that are very detrimental to us all

Actually we don't need to boycott libra. don't know yet how this libra will be able to benefit us or not. if it is not profitable or detrimental, surely many people will take a stand regarding libra. and now I still believe that libra is a good project under Facebook

You don't follow the news?  Libra has ended, without any cryptocurrencies currently released by Facebook.  If the US government issues cryptocurrencies in the future, then Libra can be legally and operational.
https://www.ccn.com/bitcoin-bull-lou-kerner-facebook-libra-dying/

[barabarian1]

I don't think we need to boycott Libra coins. because I think libra coins are included in the stable coinage group so it won't affect the value of other crypto coins. Facebook creates coins libra aims so that we can send and receive all over the world as easily as sending photos through the application. Facebook says when Libra Coins have been released we can use Libra Coins through the WhatsApp and Messenger applications. so I think the presence of Libra coins will make the crypto market more crowded and provide many benefits for us.

[Rose_btc]

Let me tell you few very imp points if you really want to boycott, any of these monopolies based businesses what should you do?

• First of all stop using Facebook, I deactivated my account 2 years back, and have never turned back to it.
• Let us run a deactivate facebook campaign, once these guys loose a control of the shit the are doing to us, they will automatically break down

[Rcoinmoon]

I think that project is really going to have  some great impact on the blockchain technology, libra will face a lot of challenges alot of monsters but it's going to have a great future

[Shepard777]

We all perfectly understand that cryptocurrencies with a fixed price have no great future, imagine that this is just a game coin that can only be paid on Facebook services, it will not be needed anywhere else, since it was created exclusively for this ecosystem, I think that it not a competitor to classic cryptocurrencies, but on the contrary will give a new breath to the cryptocurrency market and bring new people with money here, because the Facebook company is quite large and has a good reputation to give faith and hope to people not familiar with cryptocurrencies.

[Pearls Before Swine]

• First of all stop using Facebook, I deactivated my account 2 years back, and have never turned back to it.

Good for you, I don't use that privacy stealing piece of crap website either.

Nor will I use libra or own any *if* it does end up being released, which it probably won't be.  There's no need to boycott it, because it won't succeed except maybe as an alternative to fiat for facebook related purchases.  It will fail as a cryptocurrency among those who know what real cryptocurrency is. 

[Shallow]

Facebook is the antithesis of everything Satoshi stood for.

Should we, as the crypto community, boycott their effort?

I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.

It wouldn't be the first time that a company had engaged in lobbying and rent-seeking to harm competitors.

I believe this should be a personal decision, that is buying the coin or not. But however, as for me, I don't think I will have anything to do with it as Facebook itself is questionable. Recently I read a post about some of its partners exiting the project, although am yet to know if it's true; but one thing is sure, ever since the project was announced it has face one barrier or the other; why isn't the world embracing it?
I don't think I will have anything to do with it, privacy matters a lot.

[Nguyenthanh2391]

Facebook Coin should not be boycott (Project Libra). It is their effort, such a good project we should not boycott. Let's look at the good sides of the project. I will learn and appreciate its benefits.

[superstrength]

I advise you not to get involved in such projects. be careful still. Look at their negatives and unacceptable.

[Apinya_Anong1111]

It is still not possible to ascertain whether or not to boycott a project is the right thing to do. It is a good choice to continue learning more. should not judge from personal thoughts too and should not only hear from one side.

[STT]

I dont especially believe in a boycott idea, if Libra works then its for good reason presumably as the market is already crowded in many different solutions.   If it doesn't work then what does it matter if we should avoid it or not, it will decline and not be a benefit to many anyway.
  Whats most likely to happen now is it just turns out to be a paypal kind of processing type operation, not especially unique or important just an attachment to the main body of facebook and there for convenience of those users.    Whats always true is that it will continue to be a good idea to have a bias towards Bitcoin which has proven itself a reasonable hold for over a decade now, more positive then a boycott.

[Sendi blackspade team]

I still wonder what Boycott is doing? Will it threaten bitcoin and the market because of differences in principles? let them run and the market will judge whether or not they deserve a new coin. Boycott is not a good way to be a solution like assessing a project scam.