[2019-09-27]Bitcoin Chaos Continues As Facebook’s Mark Zuckerberg Reveals...

[White sugar]

Bitcoin Chaos Continues As Facebook’s Mark Zuckerberg Reveals Libra Woes

Bitcoin and cryptocurrency markets went into meltdown this week, with the bitcoin price suddenly falling off a cliff.

The bitcoin price lost some 15% in a shock sell-off on Tuesday, dragging down the wider bitcoin and crypto market and catching traders, who had hoped the hotly-anticipated Bakkt crypto platform launch would give bitcoin a boost, off-guard.

Now, Facebook chief executive Mark Zuckerberg has revealed his libra cryptocurrency, which is largely credited with sparking bitcoin's bull run earlier this year, may not launch in 2020, as previously expected.

https://www.forbes.com/sites/billybambrough/2019/09/27/bitcoin-chaos-continues-as-facebooks-mark-zuckerburg-reveals-libra-woes/#6fd320151344

[Sutters Mill]

Instead of Zucerkberg billing this as a new crypto he should have just announced some sort of blockchain-backed payment processor instead. Basically like a blockchain Paypal and make money like they do with fees. Trying to create your own currency is just asking for heat from the fed and the powers that be. They're going to come down on him hard because basically anyone creating their own currency is a huge threat to them, but the great thing about bitcoin is that there's no point of attack because there's no figurehead or central authority to go after. When something goes wrong or people start using the currency in a way the authorities don't like there's someone they can go after and fine or imprison or lean on to try shut it down since there is a company/person behind it. Good luck with that, Mark. Long live Bitcoin and true crypto.

[Lucius]

There is no chaos, Libra does not exist and it is very likely that it never will exist, and even if it does launch, there will be no competition between Libra and Bitcoin. Zuckerberg and his spy social network just want more money, but they have a problem in most of the world including USA, Europe, India, China who are clearly against Libra. Without the consent of the majority, one such project is doomed to failure - and we can see how Bitcoin is win even in that segment. Let's just imagine that Satoshi is asking permission to start Bitcoin, but he didn't have to that, he just use free internet and its ingenuity.

[gentlemand]

Libra will never launch. Ever.

If a 15-20% fall is chaos then we have been in a permanent state of it for several years. If the fresh meat that arrives can't handle it then I'm sure there'll be others who'll be delighted to purchase their losses from them.

[Carlton Banks]

Libra will never launch. Ever.

this ^^^

Bitcoin and cryptocurrency markets went into meltdown this week, with the bitcoin price suddenly falling off a cliff.

The bitcoin price lost some 15% in a shock sell-off on Tuesday, dragging down the wider bitcoin and crypto market and catching traders, who had hoped the hotly-anticipated Bakkt crypto platform launch would give bitcoin a boost, off-guard.

if you were waiting for Bakkt for a shot in the arm, then:

1. You were "Waiting for Godot" (he's not coming you idiots)
2. The real shot in the arm has been and gone since Bakkt was announced (and re-re-re-re-announced...)

[Kakmakr]

Mark Zuckerberg was very surprised with the backlash from the US Government, when Facebook first announced it's plan to develop the Libra. The US Government will never tolerate any digital currency that would compete with the US Dollar <$> ..IF it is not something that are controlled by them.

Once Facebook's law division looked a bit deeper into the repercussion and how the US Government would push back, they probably gave Mark some advise on how to deal with this sensitive issue. I think Libra will be developed, but it will bend the knee before US regulators and they will allow the US government to use that technology to their advantage.    <3L3tter agencies will have a feast with all that financial information on citizens from other countries>

[carlfebz2]

There is no chaos, Libra does not exist and it is very likely that it never will exist, and even if it does launch, there will be no competition between Libra and Bitcoin. Zuckerberg and his spy social network just want more money, but they have a problem in most of the world including USA, Europe, India, China who are clearly against Libra. Without the consent of the majority, one such project is doomed to failure - and we can see how Bitcoin is win even in that segment. Let's just imagine that Satoshi is asking permission to start Bitcoin, but he didn't have to that, he just use free internet and its ingenuity.

This is the hard part where even it isnt still being launched yet there were lots of critics and blockage for this project to proceed on and these countries
arent really that small but they are the most powerful countries globally and without having their support or  sympathy then with that alone will be already a
big challenge for Libra.I dont see the part for it to create up some chaos with Btc yet its just obvious that they are totally different to each other.
I do rather believe this will go toe to toe with stable coins instead.

[InvoKing]

Libra they said.. Following people in their social events and soon in their transactions/ daily life..
Bitcoin price volatility has nothing to do with this coin. It may have an impact if it will attract more users than bitcoin, otherwise bullshit.

[cr1776]

Libra will never launch. Ever.

If a 15-20% fall is chaos then we have been in a permanent state of it for several years. If the fresh meat that arrives can't handle it then I'm sure there'll be others who'll be delighted to purchase their losses from them.

One certainly hopes it never does. A centralized crypto controlled by that group is worse than useless.

And you are right if this is chaos there has been chaos since 2010.

[figmentofmyass]

Now, Facebook chief executive Mark Zuckerberg has revealed his libra cryptocurrency, which is largely credited with sparking bitcoin's bull run earlier this year, may not launch in 2020, as previously expected.

facebook already informed investors in the q2 shareholders report that libra may never launch due to regulatory barriers. that's the most likely course. governments seem pretty resolved not to let it happen.

it's a bit insulting to credit libra with sparking bitcoin's bull run.

[Carlton Banks]

it's a bit insulting to credit libra with sparking bitcoin's bull run.

the whole circular logic of "NEWS STORY MOVES MARKET" is such self-serving nonsense. They're supposed to be following events, not guiding them.

Here's the real newsflash: people best placed to manipulate the markets also try to manipulate newsmedia headlines. I mean duhhhhh


if there's really, really some news that will move markets, there is a massive incentive to make sure your journalist friends DO NOT publish the story until all the cronies have made as much money as possible from the news before the peasant class get to hear about it.

then there's the "throw them some table scraps" type stuff, where e.g.  some very recognizable company like Netflix or Facebook get hyped in the press ahead of their IPO, and still has no discernible profits and nothing but borrowing to invest as a business plan. Investors see returns in the medium term, but who knows what will become of these companies in future; near-zero or questionably valued assets, and no income.

and then there's the clearcut BS and schizophrenia we get in cryptocurrency land, where outright BS stories get published, or the same self-contradictory story is reported 20 times ("CHINA BANS BITCOIN, THIS TIME FOR REAL!"), all aided by lack of any real information, not to mention investor ignorance in a nascent and very technical, yet profitable, field.


Tales of market manipulation have a long, long history. There is no reason why it should be any different today, and the manipulation is more sophisticated than ever.

[hatshepsut93]

it's a bit insulting to credit libra with sparking bitcoin's bull run.

Crypto news always pick some stupid reasons to explain Bitcoin's price changes, because they only care about making stories that would generate more traffic. And they seem to be quite successful at that, because I see so many newbies repeating the narratives created by crypto news sites and blogs. It's kinda ironic that so few people want to actually think critically in crypto community, considering that Bitcoin was created because of distrust towards other people.

[NathanJB]

it's a bit insulting to credit libra with sparking bitcoin's bull run.

Crypto news always pick some stupid reasons to explain Bitcoin's price changes,

Because they are more of rumormongers and gossip peddlers rather than news writers and reporters. But is it something new? News used to be reporting what is actually happening without bias, interpretation, speculation, etc. That is not the case nowadays. 

If it's insulting to credit libra with bitcoin's bull run, it is more unimaginable to credit it to some foolish FOMO created from nowhere.

Bitcoin was created because of distrust towards other people.

Is that really what ran in the mind of Satoshi when he created Bitcoin? You know what, there is this hint in me that says the followers of Satoshi are too hostile while the creator himself was amiable.

[veleten]

don't see how does the phantom Libra is connected to the price fall
the revelations by Mark is nothing but an attempt to draw attention to his project
highly doubt it would take off or even launch , there will be pressure from the government and CB for sure

[AliMan]

it's a bit insulting to credit libra with sparking bitcoin's bull run.

Crypto news always pick some stupid reasons to explain Bitcoin's price changes,

Because they are more of rumormongers and gossip peddlers rather than news writers and reporters. But is it something new? News used to be reporting what is actually happening without bias, interpretation, speculation, etc. That is not the case nowadays. 

If it's insulting to credit libra with bitcoin's bull run, it is more unimaginable to credit it to some foolish FOMO created from nowhere.

Bitcoin was created because of distrust towards other people.

Is that really what ran in the mind of Satoshi when he created Bitcoin? You know what, there is this hint in me that says the followers of Satoshi are too hostile while the creator himself was amiable.

Amiable or not, there's no disclosure of this confidential matters regarding the reasons of Satoshi. What's very important here is that we enjoy the comfort that bitcoin had given to us. Most importantly, this technology of money is somewhat a door for everybody's opportunity in any ways of making money digitally.

[FanEagle]

it's a bit insulting to credit libra with sparking bitcoin's bull run.

Crypto news always pick some stupid reasons to explain Bitcoin's price changes, because they only care about making stories that would generate more traffic. And they seem to be quite successful at that, because I see so many newbies repeating the narratives created by crypto news sites and blogs. It's kinda ironic that so few people want to actually think critically in crypto community, considering that Bitcoin was created because of distrust towards other people.

Well, people would have to find answers to why the bitcoin is rising and falling since every time the value fluctuates, there is not always reason to why we had such fluctuations, and you know that the value of bitcoin is not only dependent on the power of buying and selling or demand and supply, it could also depends on people mentality which is one of the trigger to acting on the buy or sell button.

I have seen so many people after Facebook announce their intention to lunch the coin initially without specific time frame start investing in bitcoin because of the believe and the mentality that this will be a trigger for the bitcoin bull run, and the coin itself might not be the trigger, but the action they took at that time to choose to buy is what actually may have led to the price increase and then they associate it to Facebook.