Should we boycott the Facebook Coin (Project Libra)?

[DaMut]

Libra needs to be promoted on the contrary, because it will bring fresh money to cryptocurrencies. And that means raising the prices of our altcoins.

How it brings a fresh money into the cryptocurrency market? Libra is not an altcoin, instead, it is a stable coin. It is an independent entity, and its flow is being controlled by themself.
let's count how many stable coin out there? [USDT, TUSD, USDC, PAXOS, GEMINI, DAI, BitUSD, sUSD]*.
and how much they bring a fresh money to the market?

* https://stablecoinindex.com/

I see no reason to boycott another stablecoin, he's done nothing wrong. On the contrary, Facebook will be an excellent guarantor of the liquidity of the new stablecoin and a large number of users of this social network will bring popularity to Libra.

On the other hand, I see so many reasons to do that. Right now it does nothing, but how about the future?
facebook did something brazen a while ago, and do you believe them not to do it again? when money is involved, everything can change.

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[PuertoLibre]

There are a lot of threats against the Libra from the France, US and Germany but as the biggest social media Facebook developers are able to handle these manipulations in order to give their customers the best product. Stable coins will lose the popularity in the exchanges in case of Libra gonna be traded on the well-known crypto exchanges.

[owengtam09]

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.

It is early to say that we should boycott the Facebook coin, as I've heard about that coin, it is less volatile than other cryptocurrencies and much better security. Well, we all don't know what's behind that coin until they launch their coin. So let's wait and see its potential. As we all know, Facebook is very popular, so they can use their influence to advertise their coin better and a fastest way they can.

[micalith]

I think we should Bycott Libra. They can't fight with blockchain and bitcoin. There are many ways to reach to people who are willing to have a decentralized system. I want to control my money and bypass banks. Libra and the other centralized coins are trying to give us that but in a centralized way. As I said, they can't fight with bitcoin but create a rival for it.

[Impaler]

They just announced Libra and facing too Mich problem. Its to early to take any decision. And in some point I think face would help people to know about this market. I know its break the first rule of crypto decentralization. But still. It may help in some point.

[ChrisPop]

Nah.. we don't need a stable coin. We need a real decentralized cryptocurrency that is not controlled by any government NOR by any COMPANY like Facebook is. I view countries like bigger companies, so why would you trust them to control a coin?

Fundamentally Libra will be backed by fiat currencies (USD, GBP, EUR,etc.) which guess what.. are controlled by govts. So what is the deal here? It is like using virtual fiat currency, why not use banks lol I wouldn't invest into Libra just because I can send money directly through the social network. That is ridiculous..

[Weng simok]

It seems that it will be very difficult for us to boycott Libra Coin because with the financial strength possessed by Facebook, of course it will be useless, but actually the launch of Libra Coin will not really affect cryptocurrency in my opinion because the purpose of Libra Coin is basically created as payment tools for the world community and certainly the price will always be stable, unlike the case with bitcoin which is prioritized as a future investment asset, so, we don't need to be afraid if the libra coin will be able to rival bitcoin later, because as far as I know many countries in the world prohibit Libra coins are transacted in their country because later they will be able to drop / kill the country's official currency value. But of course we have to see how the impact will be caused by the launch of the Libra Coin in 2020.

[lumierre]

I see no reason to boycott another stablecoin, he's done nothing wrong. On the contrary, Facebook will be an excellent guarantor of the liquidity of the new stablecoin and a large number of users of this social network will bring popularity to Libra.

This boycott has already negative effect. Thus, a full launch of Libra may not happen in 2020, as previously planned. If regulators continue to stagnate, making a decision may take years, and even after that, there are no guarantees that Libra can be launched. Despite this, Zuckerberg clearly makes it clear that Facebook has decided to go with the flow in this matter and not take any special initiative.

[Mila52]

I don’t see the point in boycotting the libra. Everyone should make this decision himself. I'm completely indifferent to the FB because of the unreliability of saving users' personal data and respectively their Libra . One benefit to the crypto community from the hype around the libra is free advertising of blockchain technology and crypto currency.

[bitcoinst]

To be honest, I do not quite understand such calls. What is the point in boycotting this coin? Because it is centralized and completely under control? But such coins are full on the market, with a greater or lesser degree of centralization, why not give up all centralized coins? It is pointless. Any strong project in the crypto sphere, in one way or another, develops it, even if this project will contradict all the canons of crypto anarchy.

[cutesgirl]

Why have to boycott Libra or Facebook coin, have something wrong with Libra and you want to boycott Libra coin? I am an investor and looking which one have chance to get profit I will invest there without care is from Libra or Facebook coin, if give me profit higher than other coins I will invest with Libra coin.

[sayaya17]

We take positive side for this Libra coin, if this Libra coin has many benefits for crypto, crypto will increasingly rise and be popular, because we know that Facebook is a social media whose community is extraordinarily large, so I think boycotting Libra coins must be a definite reason, we ourselves don't know what the vision and mission is, so just relax and don't panic.

[wildey]

quite interesting to follow the current development of libra. even from our side we also still have pros and cons. Honestly I support Libra, because that might change the world view of cryptocurrency. Well, unconsciously, almost everyone will use and know cryptocurrency because everyone almost uses Facebook (even though the system is centralized).

actually you don't need to bother to boycott about the development of this token, because basically this has gotten some challenges from countries in the world. even the CEO of Ripple believes that Libra also will not launch before 2023, and most likely libra will run with a lack of partnership (given that PayPal is out, so most likely this will also affect others). You might be interested in reading the article. this is the source

[Robotbitcoin22]

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

[clickerz]

To be honest, I do not quite understand such calls. What is the point in boycotting this coin? Because it is centralized and completely under control? But such coins are full on the market, with a greater or lesser degree of centralization, why not give up all centralized coins? It is pointless. Any strong project in the crypto sphere, in one way or another, develops it, even if this project will contradict all the canons of crypto anarchy.

Same sentiments,Why boycott? Project Libra by Facebook is a legit one.Big business backing it, though some already expresses withdrawal from it.This is a huge project and a good exposure for crypro, and even bitcoin. Facebook has a wide reach of members numbering to billions,means easy to market the said coin and more adaption to come.

[ven7net]

The situation around Facebook and its Libra platform is indeed very interesting. On the one hand, Facebook, due to its audience and influence in the world by the introduction of its cryptocurrency, can attract a huge number of new users for cryptocurrencies, thereby giving a big impetus to the development of the crypto industry as a whole. On the other hand, it caused a lot of criticism and fears, even from the crypto community. And here the question just fits very well, why is it so? It seems that most of them want cryptocurrencies to be recognized and used everywhere and the launch of Libra is just one more step towards this. But as we see it is not so simple. I think that it’s too early to say anything, it’s better to wait for Libra to launch, if it certainly will.

[spadormie]

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.

[Lmaooo]

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.

Facebook Libra is not going anywhere because no government in the world would allow Facebook to control its money. As we recently saw what happen between Facebook and the US government, to be frank, the congress won't allow Facebook to launch the Libra coin because it'll diminish the USD. 

[alyssa85]

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. 

Are you quite sure that Libra will open a lot of investors to crypto and not Kill bitcoin and all the alts?

There are already about 1500 alts including a lot of stable coins that work perfectly well. What does Libra bring to the table apart from Zukerberg's toxic reputation which might kill crypto off?

[lolak2]

I do not plan to buy or use any coin come from company like facebook, this companies against our privacy, everyone should not to buy it.