Europe is against Libra. Who else?

[Brunus]

Any innovation, if it is revolutionary, will find a small group of supporters and a large majority of people who are against it, because they are afraid of losing their position rents.
Europe is against Libra essentially because it has not understood what it is, as it has not yet understood bitcoin.

[Oilacris]

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?

Of course, if Facebook launches its cryptocurrency - it will change the opinion of many people to cryptocurrency for the better. Given the huge audience of Facebook, a huge number of people will get a chance to get better acquainted with the cryptocurrency.

Not at all yet they are just masking out the word crypto but Libra is heavily centralized which do really opposes on whats the real deal or essence of crypto.

If they do lost up Europe then that would be somewhat an impact but not totally a blockage for them not to launch but there were rumors that they might not consider to launch up but well we do know that everything can happen or be reverted.

[tetyulfania]

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?

Its no surprise this is coming at all and its something I have maintained. There is already a bad feeling for Facebook because of the amount of information to it has access to because of its platforms talk about Facebook, Instagram and WhatsApp and with that, government functionaries are already feeling they should be the ones with access to that in the sense that when they need to get something on an individual, they would likely have to go get a warrant before that is possible. Now adding crypto to it, you might as well sign out the function and control of government to a private organisation.

With Europe making a position and the difficulty it might face in America, there is no sooth saying that it will take lots of effort for it to see the light of the day if they won't bury the Company is series of court cases and injunctions among several bottlenecks. Facebook should focus on something else, this scope of business is clearly ultra vires.

Uusally with EUROPE and US always fight with bitcoin and altcoin, they are trying to revoke how dominance bitcoin and altcoin as investment and payment purchase for company.

[Fundamentals Of]

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?

We cannot get a realistic answer to that unless the project has successfully launched, offered their product to the clients, and got back feedback from the users themselves. In the meantime, the problem with Libra is really the governments trying to get hold of it. I guess they will have to focus most of their efforts and negotiating skills to that or else they will say goodbye to their big project. I can imagine how Libra would really disrupt the world of currency if successful. And this is probably the foremost reason why the governments do not want it.

[South Park]

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?

It was to be expected and it is one of the reasons why bitcoin is a decentralized currency, any centralized party that tries to create its own currency it's going to be ripped apart by governments that do not want to have any kind of competition when it comes to printing currencies, personally I was never going to use such a coin but I hope that this is a learning experience for all of those that think that decentralization is not such a big deal when it is in fact the main reason why bitcoin is still around after so many years.

[eaLiTy]

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

Having a centralized token and calling it money is a different thing altogether, they are looking for a stable coin and still i am not sure how they will convince all the major nations to get it legalized, BTCitcoin on the other hand is  a decentralized currency and no government can ban it completely and that is not the case with centralized coins. If a government does not want their citizens to use them they will ban them and since facebook is their main working model they will not risk getting that banned too.

[bitbunnny]

I wouldn't say that European union is against Libra in general but it has certain concerns that needs to be clarified, what kind of impact could be expected. There are not all facts known about Libra and EU would like to know what is all about and what the regulation will be.

[Bitfling]

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?

Although Facebook makes a statement that Libra Coin is not money, if there is no fundamental change in the concept, I think it will still be rejected by Europe or other countries. This happens because Libra Coin has the potential to disrupt the dominance of the central bank in creating money

[Kasabus]

There are a lot that are against Libra but it doesn't mean Libra won't be successfully launch.
When they show what they can offer to the world, of course these regulators are looking in the legal aspects and the impact of the economy, if it will threaten the government own financial system, they would be against it and therefore they will request for amendments to comply with their rules because they will sign it. 

Thing is, the government will never approve Libra if they won't be able to control it, they aren't called regulators for no reason, they should have control in any company they will regulate.

[Argoo]

Such a global stable coin must exist, but it should not be issued by a private campaign, because it will be a very big risk for global financial stability. Then, when something happens with this coin, the states, in order to prevent the development of the crisis, will be forced to support this private can, that is, to finance private business. Moreover, such a coin should not be controlled by such a social giant as Facebook. This is doubly dangerous.
It would be better if such a coin is issued by one or more states. Such a stable coin will appear vseravno, that's just the question of who will control it.

[btc_angela]

There are a lot that are against Libra but it doesn't mean Libra won't be successfully launch.
When they show what they can offer to the world, of course these regulators are looking in the legal aspects and the impact of the economy, if it will threaten the government own financial system, they would be against it and therefore they will request for amendments to comply with their rules because they will sign it. 

I think which such a big company, Facebook are going to push with their product. I mean they already hired some lobbyist, so they are ready and will flex their muscle and really get their product on the market.

Thing is, the government will never approve Libra if they won't be able to control it, they aren't called regulators for no reason, they should have control in any company they will regulate.

This will be a continuous battle though, they could deflect the issue here, but it still boils down as to how they are going to response with regulations and put it under the control of the government.

[Barbut]

Such a global stable coin must exist, but it should not be issued by a private campaign, because it will be a very big risk for global financial stability. Then, when something happens with this coin, the states, in order to prevent the development of the crisis, will be forced to support this private can, that is, to finance private business. Moreover, such a coin should not be controlled by such a social giant as Facebook. This is doubly dangerous.
It would be better if such a coin is issued by one or more states. Such a stable coin will appear vseravno, that's just the question of who will control it.

Bitcoin is a global coin, it`s not stable yet, but maybe one day it will be. Who will control it? Decentralization is the right word my friend, it will be controlled by everyone. It`s something worth to fight for, why would we surrender and give it all to one, centralized entity. Who will control it? Should we let some dictator do that? Some Trump? Some bank directors?

[Ranly123]

Such a global stable coin must exist, but it should not be issued by a private campaign, because it will be a very big risk for global financial stability. Then, when something happens with this coin, the states, in order to prevent the development of the crisis, will be forced to support this private can, that is, to finance private business. Moreover, such a coin should not be controlled by such a social giant as Facebook. This is doubly dangerous.
It would be better if such a coin is issued by one or more states. Such a stable coin will appear vseravno, that's just the question of who will control it.

I dislike having a stable coin because the balance in cryptocurrency will be in danger. Of course, this coins should not be controlled by the government but instead should be privately owned to maintain the anonymity of the users.

[Kasabus]

There are a lot that are against Libra but it doesn't mean Libra won't be successfully launch.
When they show what they can offer to the world, of course these regulators are looking in the legal aspects and the impact of the economy, if it will threaten the government own financial system, they would be against it and therefore they will request for amendments to comply with their rules because they will sign it. 

I think which such a big company, Facebook are going to push with their product. I mean they already hired some lobbyist, so they are ready and will flex their muscle and really get their product on the market.

Thing is, the government will never approve Libra if they won't be able to control it, they aren't called regulators for no reason, they should have control in any company they will regulate.

This will be a continuous battle though, they could deflect the issue here, but it still boils down as to how they are going to response with regulations and put it under the control of the government.

At this point, their enemy is the government and not us crypto adopters. If the Facebook company wouldn't like to follow the rules and government policy, they can't be successful as it for sure the Government will look into them because they have a name already in the community. I believe they could do it and to prove to us that Libra could be one of the great coins in the market despite of some countries that are against them.

[FanEagle]

We cannot get a realistic answer to that unless the project has successfully launched, offered their product to the clients, and got back feedback from the users themselves. In the meantime, the problem with Libra is really the governments trying to get hold of it. I guess they will have to focus most of their efforts and negotiating skills to that or else they will say goodbye to their big project. I can imagine how Libra would really disrupt the world of currency if successful. And this is probably the foremost reason why the governments do not want it.

It seems facebook is not even bothered about this threat as I am still getting some update as regards their launch against 2020, so it’s like battle between Facebook and the government and I am waiting to see who would win, but I don't know why Facebook is so desperate about their Libra project if the really don't have some hidden secrete about it.

Before cryptocurrency became popular, they have been making enough profit and without cryptocurrency, they will still continue to make profit and remain world's largest social media platform with the largest users database, so if people say they don’t want their Libra coin, and government too are against it, then tell me why exactly they are trying to impose it on people. Libra coin seems like a threat to everyone and I don’t think it should be allowed.

[Yaunfitda]

We cannot get a realistic answer to that unless the project has successfully launched, offered their product to the clients, and got back feedback from the users themselves. In the meantime, the problem with Libra is really the governments trying to get hold of it. I guess they will have to focus most of their efforts and negotiating skills to that or else they will say goodbye to their big project. I can imagine how Libra would really disrupt the world of currency if successful. And this is probably the foremost reason why the governments do not want it.

It seems facebook is not even bothered about this threat as I am still getting some update as regards their launch against 2020, so it’s like battle between Facebook and the government and I am waiting to see who would win, but I don't know why Facebook is so desperate about their Libra project if the really don't have some hidden secrete about it.

Of course, they are bothered by the news, however, Facebook is a big company and they have all the means necessary to push their agenda whatever countries or governments are going against them.

Before cryptocurrency became popular, they have been making enough profit and without cryptocurrency, they will still continue to make profit and remain world's largest social media platform with the largest users database, so if people say they don’t want their Libra coin, and government too are against it, then tell me why exactly they are trying to impose it on people. Libra coin seems like a threat to everyone and I don’t think it should be allowed.

Let's see, again, they wanted to go on the next level here, they are a billion dollar company, but they are not just sitting there, they wanted to create more money, because they are a business empire now and for sure they are going to go live next year, might be delay though, but definitely the people behind are greedy that they need to make it work in 2020.

[el kaka22]

We all know China is against Libra as well and that makes literally the three biggest economies in the world who are not sure about Libra at all. USA itself is looking into Libra and trying to find what could be possibly wrong with it and because of that facebook already considers not doing it, just because USA may not allow it, than we see here EU is not in favor of Libra, at least France is not and I am sure all others would agree eventually, than we have China who is afraid that Libra may cause their money to become less valuable so they are planning on doing a counter-libra and create their own currency.

So, as you can see Libra managed to make all 3 big powers of the world in economical sense to go against them, its not an easy task to do something that bad, not even bitcoin managed to do that much negativity.

[vintages]

Things may change for Libra if IBM truly work with it as they claimed two days https://www.google.com/amp/s/www.cnbc.com/amp/2019/09/23/libra-ibm-says-its-open-to-working-with-facebook-on-digital-currency.html
Even if the European, China or USA is not in support of it, the call of it regulations by the Japan can be quite a turning point.

[cotton ball]

After Europe again with Libra coin created by Facebook social media, today we got news PayPal have stop become Libra partner and left Libra forever and PayPal want to create own crypto, Many people dislike with Libra coin and they always delay with everything have plan based on schedule in their road map.

[btc_angela]

So another bad news for Libra as Paypal withdraw its support:

Payments firm PayPal has become the first company to pull out of an alliance that is trying to launch Facebook's digital currency Libra.

PayPal made the announcement in a statement on Friday, but did not specify what had prompted the decision.

https://www.bbc.com/news/world-australia-49944421

I'm sure there could be other companies that will pull out before the actual roll out.