Is Libra the future anyone wants?

[efxtrader]

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

There are several cryptocurrency which are centralized and don't seem to be a threat, for example XRP or utility token. I think there is no serious threat to the presence of Libra Coin on the cryptocurrency market because basically Libra coin and bitcoin have different ways of using it.

[Peanyut991]

I don't think the libra will be the crypto that everyone wants. Everything the crypto community wants is in bitcoin. Bitcoin with blockchain technology presents transparency, transaction speed, and transaction security.

[marcbitcoins]

As facebook is the owner of this coin then i believe it will be a big success as Facebook already has billions of users in which for sure might become future investors too. Investors always looking for trusted and most potential investments in which Libra have posses too but it doesn't mean it will supersede Bitcoin as the king of cryptos.

[baigreen]

As facebook is the owner of this coin then i believe it will be a big success as Facebook already has billions of users in which for sure might become future investors too. Investors always looking for trusted and most potential investments in which Libra have them both too but it doesn't mean it will supersede Bitcoin as the king of cryptos.

The whole cryptocurrency economy is built on Bitcoin today. It is like an American dollar or gold. Any currency that comes close to shifting it will cause misunderstanding in the market. And there will be a big feed. I do not think that investors will risk it.

[ub27]

Personally I don't see anything bad with Libra since it all gears towards crypto adoption.  Yes, it's a centralized project, but this also has its good sides.  Since Libra will be a stable coin, it won't be a threat to existing cryptocurrencies as some folks propose.

[Deborah Christine]

Libra is a stable currency. That is, Libra has a system of integration points that lock in value.  Blockchain, equivalent to a system that cannot be damaged or replaced. In this system, he can release a point which points can be traded. The currency is stable, meaning that this point has a stable value.

[adam1230]

Libra is going to be a real challenge of crypto world and FED.
If Trump dies than the world can start to change. Libra is trying to replace USD so here is where the real war begins.

[pinoyrichkids]

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

Libra is another type of stablecoin according to source, but there are lots of stablecoins in the market, and they are not a threat even to world financial systems, maybe it can help to ease the transactions unlike using the banks which require higher fees and a transaction time.

[ethereumhunter]

Libra still on the way to enter the crypto world that anyone wants and they need to continue the project until the finish. There are a lot of to do from the Facebook team behind of the Libra project, and they need to work hard, so people will know what the benefits of having Libra on their wallet. But they are difficult to compete with bitcoin as bitcoin still be the leader of the cryptocurrency.

[Dexion]

Libra is going to be a real challenge of crypto world and FED.
If Trump dies than the world can start to change. Libra is trying to replace USD so here is where the real war begins.

is that true and in fact many countries scare the existence of libra later when released? Libra is in a position with the support of many large projects, this might be more value than this coin. but the stable concept of the coins that are brought, will turn libra as an alternative to secure good assets. will not be much different from usdt and other stable assets.

[bartolo]

Libra has raised fears about the future of blockchain mainly because it goes against everything the community wants and believes in: decentralization.
https://elixxir.io/blog/is-libra-the-future-anyone-wants

The main concern with Libra is not its centralized aspect, after all it will not be the first centralized coin out there, but privacy. How can Libra users be sure that their data and movements will not be tracked, stored and sold or leaked? After that widely known data leak scandal, how can anyone trust Facebook at this point? Are people really going to ignore this?

[profitgenerator212]

Although the blockchain technology of Libra might seem sophisticated and interesting but I am more about it because of the exposure it offers and the 2 billion new users it will onboard to cryptocurrency.

[Darker45]

Libra has raised fears about the future of blockchain mainly because it goes against everything the community wants and believes in: decentralization.
https://elixxir.io/blog/is-libra-the-future-anyone-wants

The main concern with Libra is not its centralized aspect, after all it will not be the first centralized coin out there, but privacy. How can Libra users be sure that their data and movements will not be tracked, stored and sold or leaked? After that widely known data leak scandal, how can anyone trust Facebook at this point? Are people really going to ignore this?

Indeed, this is quite an issue. And Facebook is very much aware of this. In fact, they have actually responded to this already. David Marcus of Facebook has this to say:

"You won’t have to trust Facebook to get the benefit of Libra."

"We will not have any special rights or privileges. Facebook created a subsidiary – Calibra – that will operate a wallet service on top of the Libra network, and while Facebook Inc owns and controls Calibra, it won’t see financial data from Calibra."

"Facebook will not control the network, the currency, or the reserve backing it."

"Facebook will only be one among over 100 members of the Libra Association by launch."

Sources:
https://metro.co.uk/2019/07/05/facebook-dont-trust-us-use-libra-cryptocurrency-10116398/
https://www.coindesk.com/facebooks-david-marcus-libra-crypto-users-wont-have-to-trust-us


And as what I have learned and understood, Facebook, as a single member of the Libra Association, will only have a single vote as well. They will have the same equal footing as the rest of the founding members of Libra.

I interpret all these statements as a step to insulate Libra from Facebook, whose data issues and reputation have really made them look untrustworthy. 

[NeuroticFish]

Libra can be an interesting step in the history.
Clearly I don't like the idea behind it, clearly I think it the worse possible stablecoin (and stablecoins were alredy something bad). But...

Libra made the big boys look at the crypto for real. It made them understand that crypto is not a game, it's real, it's here to stay and it's about money.
It also made them feel threatened, which may be bad. However, I think that Libra will cause "the things" start moving for real. They will not afford to ignore crypto anymore.

My hope is that exchanges will get properly regulated, the coins will be considered currency and you won't have to pay taxes only because you spend coins (let's be clear: if you invest and make profit, that's a different story), payment processors will accept Bitcoin in the same way they accept VISA or Apple Pay and so on... and maybe one day we'll do all this without the necessity to go through fiat.

[valter_dego]

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.

I think that Libra will attract a large number of people in crypto, it will be a good advertisement for entire industry. Of course, I understand that Libra is not a decentralized altcoin, it is a fiat in a blockchain shell. And now there are a lot of them on marketplace - almost all of stablecoins and exchange coins are under centralized management. How are they better Libra ?..

[TastyChillySauce00]

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

Libra is another type of stablecoin according to source, but there are lots of stablecoins in the market, and they are not a threat even to world financial systems, maybe it can help to ease the transactions unlike using the banks which require higher fees and a transaction time.

Though some people might say it doesn't pose any threat to the world financial system but politicians are still putting their attention into it since facebook is among the biggest company in the world. if it is USA, I'd guess that they will definitely take some action into it.

[bartolo]

And as what I have learned and understood, Facebook, as a single member of the Libra Association, will only have a single vote as well. They will have the same equal footing as the rest of the founding members of Libra.

I interpret all these statements as a step to insulate Libra from Facebook, whose data issues and reputation have really made them look untrustworthy. 

Obviously, they know they need to do this since people don't trust them, but will they keep their word? They own Calibra, how can people be sure that they will not collect data from Calibra at all? One thing is what they promise, another thing is what they can do.

[94K]

Libra has a great impact on public and since its a Facebook coin, the popularity will be high because many people are on this social media platform. Though Libra hasn't been launched and announced, I believe it will be a stable coin in the future.

[MikeyVeez]

You have to change your point of view. Libra is here to bring normal people to cryptocurrencies, show them the possibilities and they will buy also Bitcoin, do not be afraid. 

[Rohtox]

I don't think Libra is the future that I want..
I don't know but I see Libra is like JPMorgan Coin 2nd phase 

If someone trusted with CENTRALIZED of Libra, Just in case forgot, how Facebook "broke" user date at the past.