Is Libra the future anyone wants?

[rmilly]

Libra has raised fears about the future of blockchain mainly because it goes against everything the community wants and believes in: decentralization.

Facebook could ultimately create a massive closed-loop revenue model from ads, digital marketplace, to payments. Do consumers want to bet on the status quo of existing monoliths?


https://elixxir.io/blog/is-libra-the-future-anyone-wants

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[jdarren]

That's a no from me dawg. I am not a fan of this Libra project especially in terms of privacy. Didn't David Chaum try reaching out to Zuck early on?

[jakelyson]

Libra coin is just a blockchain based version of fiat. No true advocates of decentralized cryptocurrency would ever want that. But we also have to admit that there are millions of facebook users that are not into crypto, so those will be their target customers. The bad rep will be, those customers will consider it as true crypto since they are not well aware of bitcoin and true characteristics of a decentralized cryptocurrency.

[Dreamchaser21]

First you have to move this topic to Altcoin Discussion because it belongs to that section, second it doesn't create any fears to a decentralized market because we are confident that even if Libra is a big coin they can't still beat a decentralized of cryptocurrency. This is a good adoption, the future will be good but it will be hard if they work as centralized coin.

[mk4]

It doesn't matter if we actually want it or not. What matters is that there are a good amount of people that are going to positively going to be impacted and take advantage of this. We're still not sure how it's exactly going to work though, especially concerning privacy.

[mk4]

For some reason people are too hype on Libra, is this because of the big Facebook giant?
If it is only for that reason I don't think Libra will last long enough even though the previous project was even better.

It's not actually hyped. "Hated" is a better term to describe it. For some reason it seems like a lot of people are scared of it. No, it's not going to replace Bitcoin. Not even close. People are heavily underestimating it though, it will definitely be useful for some people. There's no way those companies invested in Libra if they don't think it has a chance to work well.

[joromz1226]

I am fully doubt that Libra is the future, that's ridiculous. As one of the community who understand crypto industry, the difference between centralization and decentralization of it, for sure others will say the same thing as I did mentioned here. Libra may take advantage the chance to do this because they knew that there is a millions of users of FB, and the sad is those millions of user don't really had an idea about crypto, were to their sight it will become useful, and its connection of FB for the big companies too. But for the matured crypto enthusiast it is not.

[Prettygirl01315]

dont be so ridiculous OP i think most of the people in here did not like the libra hope you aware of the reason behind it. Libra is just a simple coin with an big big hype due to the partnership that is happening right now but libra is not anyone wants

[Argoo]

For some reason people are too hype on Libra, is this because of the big Facebook giant?
If it is only for that reason I don't think Libra will last long enough even though the previous project was even better.

It's not actually hyped. "Hated" is a better term to describe it. For some reason it seems like a lot of people are scared of it. No, it's not going to replace Bitcoin. Not even close. People are heavily underestimating it though, it will definitely be useful for some people. There's no way those companies invested in Libra if they don't think it has a chance to work well.

Libra does not exist yet, would not yet see the functionality of this coin. Therefore, it would be wrong to write that many already adore this coin. While there is a massive advertising of this coin, and at the same time its discussion as a big project. The Facebook project with its Libra coin is very ambiguous and most likely can do more harm for cryptocurrency than good. With the advent of this coin, a cryptocurrency can very quickly move from anonymity and confidentiality to universal control of information about its users.

[ForkNinja.com]

I think that it is good because it can quickly introduce the world to crypto/blockchain - this will in turn get people that would have never heard of crypto/blockchain in their life hear about it and potentially get into other coins and invest.

It basically gets the "mass adoption" thing every project has been trying to do done because of it's user base.

[samcrypto]

dont be so ridiculous OP i think most of the people in here did not like the libra hope you aware of the reason behind it. Libra is just a simple coin with an big big hype due to the partnership that is happening right now but libra is not anyone wants

Yeah, the hype may last until we saw the real product of Libra coin and until many investors realized that this coin will be just like a normal altcoins. If the hype goes high Libra coin might ended up on the top position but it doesn’t mean that investors really like this coin, they just buy for the hype.

[mk4]

Libra does not exist yet, would not yet see the functionality of this coin. Therefore, it would be wrong to write that many already adore this coin.

You can be interested in a project even if it's only in the whitepaper phase.

The Facebook project with its Libra coin is very ambiguous and most likely can do more harm for cryptocurrency than good

Can you expound more on why you think this? How is another stablecoin going to do harm to cryptocurrencies?

[taratorly]

The question of Libra has been asked for days. Obviously no one can fully answer because nobody really knows what happened.

[klaaas]

Facebook credits was a fail back in 2010 so they try it again but on a blockchain.
Facebook wants it so here it is.

[Spaffin]

Before you blindly trust any project, you will need to carefully examine this issue.  They have repeatedly stated that Libra can become a competitor to dollars, and therefore we need to understand what the competition is and what benefits the users will have.

[atjiat]

It is still very difficult to assume something about Libra.  After some time, we will observe the reaction of the United States regarding the Libra project.  Something very little information that the Congress has already expressed its opinion of discontent regarding this issue.  It seems to me that in the near future we hear what obstacles in the way of Libra will arise.

[ccryptopark]

Interesting point that Elixxir brings up about Libra forming a closed-loop revenue model. Does anyone else feel this way or expand how this could happen

[tippytoes]

It is still very difficult to assume something about Libra.  After some time, we will observe the reaction of the United States regarding the Libra project.  Something very little information that the Congress has already expressed its opinion of discontent regarding this issue.  It seems to me that in the near future we hear what obstacles in the way of Libra will arise.

I don't think everyone will like the project Libra. Not all individuals are fine of disclosing their private info to these companies. There are people who still value their privacy and this project is like exhausting all your information via all the transactions that you will do to them. So nope, Libra is not the ultimate blockchain project that everybody wants.

[davinchi]

Libra has raised fears about the future of blockchain mainly because it goes against everything the community wants and believes in: decentralization.

Facebook could ultimately create a massive closed-loop revenue model from ads, digital marketplace, to payments. Do consumers want to bet on the status quo of existing monoliths?


https://elixxir.io/blog/is-libra-the-future-anyone-wants

At the initial stage, LIBRA COIN might be able to take over the market temporarily, because of the hype that has surrounded it prior to its release because of its developer being a popular one in the society, but I am not so sure that the hype will last in the market when people eventually see it for what it is, I am a full centralized system of the Libra coin.

For those who understands everything about decentralization, I bet they will not pay much attention to Libra coin concerning its payment technology, the only part I see them paying attention to is the part of investment, that is if the coin will be qualified to be used as investment, because  I learnt that it will be a stable coin, though there is another version of it that says it will have volatility like bitcoin and Ethereum, but I am still waiting for the coin to be released for us to know the true nature of this Libra coin.

[peterlustig]

Well, Facebook just got fined for $5B by FTC which in my opinion is far far less for the breach of privacy. I don't trust facebook much were privacy is concerned but maybe just maybe Libra could be a good thing that crypto community needs right now.