Europe is against Libra. Who else?

[beerlover]

Facebook could definitely fix this if they want to, its not something impossible for them, all they have to do is pay the right people, fix the parts that looks not allowed and then they can release it. However, does it really worth it? I mean should facebook really give it a try if there is so much struggle with it? Will they make that much money from this that justifies actually going against all of this odds and fighting for it?

If they are going to make billions of dollars easily then yes this worths it, even if its just 1 billion a year for the first few years then it totally worths it but I am not entirely sure the transaction costs will be that high and the volume will be that high, if they believe in their user numbers then maybe they can try.

[Tylev]

Hey everyone.
Yesterday I've read an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course).
What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020.

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

The release of Libra as a whole would change for the better the attitude to cryptocurrency on the part of people, since it would lead to a further increase in interest in it. However, at the same time, the appearance of this coin causes great risks for the entire cryptocurrency. Indeed, in private hands will be concentrated very voluminous confidential information about a significant part of the world's population. In this regard, the states of Europe have categorically opposed its use on their territory. Other states will surely follow, because Europe is closely linked by trade relations with other states and if it does not use Libra, then its trading partners will not use this coin.

[davis196]

Hey everyone.
Yesterday I've read an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course).
What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020.

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

What do you mean by "Europe is against Libra"?This statement is too generalized.
The governments?The central banks?The people and companies?Who is against Libra?
Crypto users are against Libra because it's a stable coin,and we usually hate stable coins,due to various reasons.Some fiat money supporters hate Libra,because it's going to be pseudo-money.
Only the fanatic Facebook users are going to support that coin,but the project might never come to a successful launch.

[Jating]

Hey everyone.
Yesterday I've read an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course).
What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020.

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

What do you mean by "Europe is against Libra"?This statement is too generalized.
The governments?The central banks?The people and companies?Who is against Libra?
Crypto users are against Libra because it's a stable coin,and we usually hate stable coins,due to various reasons.Some fiat money supporters hate Libra,because it's going to be pseudo-money.
Only the fanatic Facebook users are going to support that coin,but the project might never come to a successful launch.

Maybe this article can help you out:

https://news.bitcoin.com/european-countries-step-up-response-to-facebooks-libra/

I'm sure they will go on with their plans despite many objectives from countries and government across Europe. This is a big company will to risk and they know that in the beginning there could be problems.

Europe though had their hard stance because they simply don't like the company. And they don't EU to be controlled by a US company, just my hunch.

[sunsilk]

USA put them on senate hearing for questions so it's likely that Europe (France to be exact that blocked them first) has found the same thing as the US gov't. And while we are here advocates and tells the same thought about Libra's centralization.

I think what Libra is mostly showing is the difference between public cryptocurrencies and privately owned "cryptocurrencies".

Exactly, if the gov't sees the crypto made up by a private company, they can chase the developers of it as if they see a possible threat go ahead directly to them. While the decentralized and anonymous coins, they can't.

[Red-Apple]

the stance is against Libra not cryptocurrency. for example we have seen many countries have already accepted bitcoin, some even as a currency but mostly as a commodity or something like that. but when it comes to a centralized coin created by a company that has no respect for user privacy, nobody including other countries want it.
so far we have even seen the same reaction inside US too. they don't want to let Libra go ahead either. at least not without forcing them to get a banking license so that they could have them on the leash.

[imstillthebest]

if im not mistaken i think there is a thread here before about other country that is also against libra  and one of them is china and u.s  but now there is a thread here and its a europe country  .

i heard other countries like china are going to create thier own crypto but other country do also have thier own reason   .
 libra is a centralized coin right ? like what i heard , so why would they worry so much ?  centralized coin cant really be a good competitor over cryptos because people will surely go for and choose cryptos   .

[davinchi]

That's the risk europe can't take, right now we have bitcoin and all the other crypto currencies and people are looking at it like something they could make money and some people do however some people lose money hence there are really no risks for the nations, it is people losing money to each other and nations just hope that their citizens would earn more than other nations citizens and bring in money to the said nation, hell even while cashing out you are giving your money to someone in your fiat region and getting his fiat so nothing changes for the nation.

However, if Libra happens then it will show the awesomeness of blockchain, the great methods of spending crypto instead of fiat and basically all around would kill fiat in many corners which means nations can't handle that yet.

[xabre]

Libra is not coin and not part of cryptocurrency, how far many people keep discuss about Libra but libra its self never launching their coin for the public and just become public opinion.

[spike420211]

Not surprisingly, large European states united against Libra. After all, the libra is a digital asset that can bring out of control a huge array of capital, thereby weakening the influence of European leaders.
They will give Libra a green light only if they themselves can somehow control it.

[TheCoinGrabber]

The EU does have more restrictive regulations "for consumer protection" so Libra is definitely going to go through a needle's eye if it'll even try to get into Europe. Many has already pointed out things they don't like about it, like the possibility of the account getting arbitrarily locked (which many SM platforms are fond of doing) and the money in them getting frozen.

I still think what really ruined any possibility of this gaining acceptance is the previous scandals FB has been in. User trust is at an all-time low.

[gwdf1]

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

I think what Libra is mostly showing is the difference between public cryptocurrencies and privately owned "cryptocurrencies".
Libra is receiving so much flak in Europe because it's a private currency, created and controlled by a private entity. While Bitcoin and other cryptocurrencies were eyed with cautious suspicion, they never faced the open rejection that Libra is currently dealing with.
Maybe that's because Bitcoin is a public infrastructure and thus not the centralized accumulation of power that Libra would be. Or maybe that's because they know that Bitcoin can't be stopped for lack of a single point of failure. Either way it's teaching the public a lesson on what is and what isn't a free currency ("free" as in "freedom", not as in "free beer"). Which is already a step up from the question whether cryptocurrency is money.

Durov with his Gram is also against Libra, I can guess. The reasons for the opposition to these projects seem obvious. Indeed, in both cases, the basis is a well-known social project, the audience of which will become the backbone of using the new cryptocurrency. Plus, in both cases, there is a strong and successful leader with his own original style of doing business. However, I guess both will exist.

[rdluffy]

Europe, crypto community, entire world and I 

Facebook did a lot of mistakes and lost a lot of credibility around the world, so governments will be tough to accept this coins from facebook
In my opinion facebook are losting relevance and soon will be irrelevant, I don't believe in them to keep my data, nor my money

So this coin is trying to born in a society that is afraid of his owner

[Google+]

when many try to hate libra then it proves that libra can be a very good coin for social media platforms like facebook will have libra transactions will become easier and the process of developing digital currencies will be wider because many will know the world of digital currencies.

[Flor1982]

It is part of the business competition and its normal that some of them will going to against it. We all knows that majority of the crypto currencies are owned by the European therefore they will considered LIBRA is a threat to them due to the popularity and positive feedback that Libra earned from the public.

[bravehearth0319]

Hey everyone.
Yesterday I've read an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course).
What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020.

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

As far as I know, most of the people in crypto business are not in favor with Libra, they may have some will going to invest in it but
they won't hold it for a long term. Because all of us here knows, it is not for a long term investment. So I hope that there will be more
country that will oppose and against with it just like what Europe did.

[senin]

Not surprisingly, large European states united against Libra. After all, the libra is a digital asset that can bring out of control a huge array of capital, thereby weakening the influence of European leaders.
They will give Libra a green light only if they themselves can somehow control it.

However, since Libra intends to control only a private corporation, the states of the European Union are unlikely to ever allow its circulation on its territory. In addition, they are seriously afraid of the fact that on Facebook there is too much confidential information about at least a third of the world's population.
A coin like Libra should be issued by a state or union of states, not a private corporation. In no case should it be possible to transfer to private ownership the possibility of influencing world financial stability.
Therefore, if Libra does not see our world, I will not particularly worry about this.

[MonsterV]

Hey everyone.
Yesterday I've read an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course).
What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020.

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

There are so many factors that are reason for countries in Europe to reject Libra currency, such as statement of rejection on September 13 in which Germany and France strongly refused Libra because they were worried about their financial sector. But on other hand my perspective, that this Libra currency provides great strength in financial sector, so that these countries have refused this currency.

[fiulpro]

Well to be honest it is not the country but the government that is against it , even they can sense what can happen if Facebook finally got out to people in a different way since there are so many users on it alone the chances that people might trust it and invest in it are very high .
The chances of it being a scam is zero ! And people know this ..
So indirectly Mark can create a superpower which could make the government's and banks suffer in silence .
All they can do is oppose ...but they can only say or implement ban .
People will always find a way.

[Leonardo7]

Libra should go ahead with their coin launch, if the European Union don't accept them now, I am sure they will in a later  not too far day. Libra coin will make many persons believe the reality of bitcoin and they will follow their ido "Facebook" and invest more in Cryptocurrency.