Europe is against Libra. Who else?

[kapalmabur]

Hi,
It is launching to defeat bitcoin. But it will not overcome over bitcoin race. Libra will not get well public response.
So, don't worry it will trash after launching.

I have not heard any news about this issue. Libra was created not to beat Bitcoin, and there will not be any altcoins that can do this. In addition, Libra will be a stablecoin and it will be used for payment in facebook and many other related services. But with much recent opposition from European and American nations. The launch of Libra seems impossible and will take longer if they still want to launch it

Is it true that Libra will become a stable coin? I think if that happens the stable coins for Libra are not quite right,
they should not use that, very unsuitable

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[Febo]

Europe is against Libra. Who else?

Eventually every country will create its own stable coin. The one that will exactly compile with their regulations. Reason is that they will want to hold fiat them self. Yes they will oppose other stable coins.

[FLoving]

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?

I think many people becomes against Libra when they see that it will compete their system or bitcoin but there are many people who think that it will also give great support to bitcoin as many people who do not know about crypto and using facebook will also know about crypto and will surely invest even in bitcoin increasing the value of bitcoin to a highest value within a shortest time period.

[Brunus]

If Zuckemberg really tries to start Libra, he will have ALL the world against him:
I don't know if we realize, Facebook has two and a half billion users, and this makes it the largest country in the world.
If he also has his own currency, he brings the dollar and the euro to his knees.
They won't let him do it. So many accidents happen ..

[iv4n]

People are attracted towards crypto currencies because of their decentralized nature. Nobody would have been investing into it as much as they are now if these currencies were controlled by government. People want autonomous power and control over their money. They are really fed up of staying under the control of corrupt politicians and people have same concerned with Libra. I don’t think so it will succeed.

People are attracted toward crypto because of the profit, it's what majority of people see in crypto, profit! When you see this forum and comments you will see that many high ranked members don't know what is blockchain, what is bitcoin, what is centralised and decentralised nature, many people don't know basics about crypto.
Libra is just a project, like any other project, with one difference Facebook is behind that project and their partners, and we all know what is Facebook and how much money Mark have. So they will lunch their project one day, they will come up with solutions for agreement with governments across the globe, and people who use Facebook will maybe use or earn libra.

[btcmurat]

The number of people who do not want the Libra is small. There are many reasons for this. States do not want any activity outside their control forces. States strictly follow foreign exchange policies. Libra may disrupt this foreign exchange balance. A currency that has millions of users at a time. Can we call it a new state?

[tsaroz]

Europe has a tense relation with Facebook itself which is repeatedly involved in misusing the private info of a user.
Europe is basically the only proponent of personal freedom. They made google to delete personal info of a person on request.
They are quite sure Libra would be risk to the privacy rather than a supporting tool.

[aamirsuh]

I tried to follow the media. France opposed the Libra, if I remember correctly. It is normal that they do not want competitors in the euro zone. States do not want the power fields to shrink. Because if the currencies weaken, they lose control.

[kotik085]

Europe disconnected from Libra and several other major players. This is a fact and investors can only wait.

[Wexlike]

Europe disconnected from Libra and several other major players. This is a fact and investors can only wait.

Investors in Libra ? I think you don't really get the point of such a private money institution. It will just be useful for wealth transfer out of a crashing economy into more stable ones.

[InvoKing]

I tried to follow the media. France opposed the Libra, if I remember correctly. It is normal that they do not want competitors in the euro zone. States do not want the power fields to shrink. Because if the currencies weaken, they lose control.

France and Europeans in general are opposed to Libra and will not allow it. Same goes for United States.
Libra is a threat for their economy but they just talk about Facebook and its poor confidentiality management.
It may have an effect on the market but after loosing the support of VISA, MASTERCARD, PAYPAL, EBAY...it will be less effective

[dunfida]

Also a good read if we do talk about reason why government doesnt really like Libra.

https://hackernoon.com/the-shocking-reason-why-the-united-states-wants-to-stop-libra-5ee97d68647e

Some said launching wont be postponed but to see to these critics i can really say that it wont really be that simple.

[Dr.Osh]

I tried to follow the media. France opposed the Libra, if I remember correctly. It is normal that they do not want competitors in the euro zone. States do not want the power fields to shrink. Because if the currencies weaken, they lose control.

France and Europeans in general are opposed to Libra and will not allow it. Same goes for United States.
Libra is a threat for their economy but they just talk about Facebook and its poor confidentiality management.
It may have an effect on the market but after loosing the support of VISA, MASTERCARD, PAYPAL, EBAY...it will be less effective

however, the conflict made many promising partnerships come out, as you mentioned. I didn't really follow the development of Libra after Paypal, Mastercard, and other partners came out, I think German and France really influenced it. however, I feel that they might feel that their fiat will have heavy competition and can make it useless.

[atjiat]

Perhaps all the leading countries of the world, including France, Germany and the United States, express their dissatisfaction and the final desire to ban the implementation of the Libra project.  I am sure that this project will never be realized.  In addition, we must take into account the fact that in 2018 almost 90 million users leaked personal data on Facebook, and in November 2019, the Facebook administration recognized another leak of user personal data due to the fact that Facebook allowed access more  than 100 applications to the personal data of users.  And now we are starting to talk about the Libra project as something grandiose.  Personally, I will beware of this project anyway.

[kaya11]

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.

Facebook did respond at the end of July. In their quarterly investor reports, they admitted Libra may never launch at all:

Facebook says significant regulatory scrutiny has made the project's fate uncertain. The tech giant admits the significant uncertainty around Libra means there can be no genuine assurance that the project "will be made available in a timely manner, or at all," per CNBC.

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

It's a tossup. It'll expose the masses to "cryptocurrency" and make the idea more accessible. However, Libra is highly controlled. Transactions can be reversed, accounts frozen. It'll give people the wrong idea about what (decentralized) cryptocurrency is.

But one wrong move by the Libra team will be remembered for a lifetime by the users, aside from that it is also risky for the scoial app which is facebook, they will meet the same fate when there are somethings isn't right anymore. So far if things go smooth then
I guess it could give a fresh start for the massive dump of crypto and gain the trust of the people again.

[STT]

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

Libra isnt crypto so why should it effect anything that we concern ourselves with.   Its viewed somehow within in the same phenomena of online digital currency but really its nonsense, almost all the major western currencies are never printed physically but largely are transferred between balance sheets and exchanged digitally constantly seamlessly.   So Libra isnt that much different, the interesting point and only reason I'd like to see it go ahead is that it varies from a strong dollar tie and maybe thats why the major powers are opposing it possibly.
   If somehow in these muddy waters, Libra is seen something like Bitcoin then I guess its something we got to discuss.   I dont see it as advancing the game, we have paypal or whatever FIAT standard and its very likely similar to that.   It doesnt really matter if it stops, goes ahead or is a giant success - I might be too dismissive but I think thats a fair guess.

[moviebuff777]

I don’t like the fact that Libra is from a mega corporation. I understand why a government would be against that. They would want to control their own cryptocurrency or support a decentralized version rather than a company owned currency.

[gentlemand]

https://www.france24.com/en/20191227-swiss-minister-says-facebook-s-libra-has-failed-in-current-form

Switzerland says no.

If its adopted home isn't having it, a place that's vastly more progressive in crypto legislation than most, then it's safe to say Libra has bared its fat, pasty rump and is now waiting for a fork to be stuck in it.

[ser7878]

Hi,
It is launching to defeat bitcoin. But it will not overcome over bitcoin race. Libra will not get well public response.
So, don't worry it will trash after launching.

I have not heard any news about this issue. Libra was created not to beat Bitcoin, and there will not be any altcoins that can do this. In addition, Libra will be a stablecoin and it will be used for payment in facebook and many other related services. But with much recent opposition from European and American nations. The launch of Libra seems impossible and will take longer if they still want to launch it

It is indeed was not made to beat bitcoin.
In addition to luckyflop I'd say - it is already in trash before even launching, Libra's partners left project like a month ago

[breathlessz]

I don’t like the fact that Libra is from a mega corporation. I understand why a government would be against that. They would want to control their own cryptocurrency or support a decentralized version rather than a company owned currency.

indeed it is widely heard that in 2020 Facebook will launch it, I do not know whether this is good news or bad, because of the centralized system used. for the near term ethereum 2.0 news seems to have not been widely circulated, even though according to plan in early January 2020, will this work? we see together