Should we boycott the Facebook Coin (Project Libra)?

[masterrex]

I dont really understand why some people are threatend about Facebook cryptocurrency called "Libra" for me its doesnt matter since cryptocurrency Market today is not purely decentralized some other platform like ripple's XRP. was accused by some people say it was centralized in nature but its on top 3 Largest marketCap thats why for me Libra is not threat to bitcoin or has any issue about it. I believe bitcoin has a stored in value. and it wont be easily de throne by a newbie crypto like Libra.

[ridha inoue]

in my opinion boycotting LIBRA is an action that is not yet needed because we do not know what progress LIBRA will do.
currently LIBRA has disturbed the community in this forum and many people hate LIBRA today.
we can conclude that LIBRA has a negative impact on digital currencies.

[robelneo]

They've already stated that their coin is a stable coin so I don't see this as a direct competitor of Bitcoin, they have a ready services and products they will just lay this out to their products, Facebook will help us for more awareness of Cryptocurrency, we still didn't see if it will have a negative impact in Bitcoin's performance.

[BryanK]

I think it's all done on purpose. The blockchain and cryptocurrency is a very good tools which are needed in this world. But at the moment the state is very much afraid that they will not be able to control the entire turnover in the cryptocurrency. Libra gives them this opportunity. So most likely it's just a tactical move to kill this cryptocurrency.

[Ekyfitri]

They've already stated that their coin is a stable coin so I don't see this as a direct competitor of Bitcoin, they have a ready services and products they will just lay this out to their products, Facebook will help us for more awareness of Cryptocurrency, we still didn't see if it will have a negative impact in Bitcoin's performance.

certainly not going to be a meaningful competitor for bitcoin. it is even possible that Facebook coins can support the crypto market for the better, with mass adoption that can encourage more trade to increase. all depend on events and cooperation that will be carried out with projects, exchanges and other sponsors.

[Moiyah]

_snip_

I think it wouldn't go beyond that point, maybe they will play by the rules and if their coin failed, I think they would stop and do something else aside from making a new coin, it's either upgrading their app or things that are related to it. Now we can't really easily boycott something that is so famous and without prior reasons. especially facebook is a tool used by billion of users around the globe.

You speculated it too much abut the Libra coin. Let us just wait for the outcome of this coin before jumping into conclusions. Perhaps, it isn't a threat to satoshi's invention. Libra coin will become a part of crypto coins now. Their project goal seems to be fine and of course we can see there are many supporters of this coin. What we can do now, is to look for their performance before doing your suggestions which is the boycott thing.

[khiholangkang]

certainly not going to be a meaningful competitor for bitcoin. it is even possible that Facebook coins can support the crypto market for the better, with mass adoption that can encourage more trade to increase. all depend on events and cooperation that will be carried out with projects, exchanges and other sponsors.

I agree with you Libra will make crypto better known by outsiders and will make the price of all crypto can soar, because of mass adoption. So we all have to support the launch of Libra

[Ridwan Fauzi]

Is the boycot only one way to make everyone aware of that? I don't know your point of view about libra coin that stated antithesis against bitcoin because I haven't saw that. Facebook is centralized and stable coin which is mean everyone will know it and if newcomers know bitcoin and its system they leave libra and use bitcoin.

[styca]

I won't be using the Facebook coin. But I don't think that a boycott by everyone on this forum will even be noticed. If Facebook bring in a coin it will have a huge number of users. One good thing is that it will likely bring more new people into crypto. I say one good thing - I can't think of a second good thing.

[RealMalatesta]

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.

What else do you expect from Facebook and of Facebook coin, the choice is left to us all to know if we should support its ambition or not, as regards boycotting, you can only speak for yourself and retrain yourself from it, but the choice is still left to users to make the decision that will favor them.

Cryptocurrency is an open system, and e all know what will benefit us in it, to some, Facebook system will benefit the, let those be the users, and to some that understands what through decentralization is and what the intention of satoshi is, they will always stand for bitcoin no matter the money Facebook spends in shilling their project, and believe me, we will still have more than 70% of people that would forever prefer bitcoin system to that of Facebook because it runs fully on decentralization.

[Gayong88]

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 haven't thought like that. Wise, if it helpful for many people to benefit why not.

[onrise]

It is individual call as many of my friends are not going to invest because they do not believe them any more after the data confidentially breach and they made money and did not even pay people whose data was leaked . Thus they have even deleted the Fb account

[Slavyanskiy]

I think you just give people premature fear. Do not be afraid of what is unlikely ever to happen. I am sure that the Facebook coin on the contrary will have a positive effect on Bitcoin.

[bolshojkush]

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.

This could possibly happen but how are we going to boycott and stop it, they have the platform and community and of course products where they can use their own cryptocurrency, it will just be laid out to these platforms, so whether we like it or not, they are going to make an impact.

And you thought that the release of the libra crypto currency will be just a huge step towards the adoption of the crypto currency by the world, even if not in the form that Satoshi nakomoto wanted.

[Vaskiy]

From common people perspective what we're experiencing is really good for the cryptocurrency network. Some due to the lack of proper information relative to the libra coin intend to oppose it. From my view it is the best and the one to help with the spread about existence of cryptocurrency which entirely a big thing that could take the market reach a higher level.

[YoloBull]

I think you just give people premature fear. Do not be afraid of what is unlikely ever to happen. I am sure that the Facebook coin on the contrary will have a positive effect on Bitcoin.

It will bring more promotions in regards to crypto industry, bitcoin will get more attention when this project start to work inside, curiosity will bring more people inside the market, the industry might be lift as more investors to come around and help, we ain't sure how or where the market will be heading if this project will be a big lift or just another ordinary crypto that will be formed.

Or Facebook will use their massive wealth and lobbying power to create laws pushing other cryptos out of the legal-sphere and into the illegal. Many large companies use this exact strategy to achieve market dominance.

[GrosWesh]

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

Some people seem to think that Libra is a good thing. Personally I do not see it the same way. Facebook well know for its dubious practices regarding the privacy of its users and I do not see why it would change now ....

[ganeshramk]

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.

All these points are just guesses. Facebook alone cannot ditch the growth of other popular crypto currencies, especially BTC and ETH.

[Ozero]

I do not see any reason to boycott the emerging new stable coin. Moreover, she can only come out next year. Stable coins we need. Through their use will arise in people and interest in decentralized cryptocurrency. In Germany, they propose to issue a stable e-euro coin, which will be secured by the euro, as opposed to Libra. Such methods are quite acceptable. Banning is not a method for cryptocurrency.

[matveyeff]

Why boycott Libra? Let it promotes cryptocurrency to the masses. Mass adoption is good for us. We don't have to use Libra, we can still use Bitcoin and no one can take it away from us.