Should the libra project be halted?

[2girls]

Right before the launch of libra the global coin, a lot of controversies is associated with the project. Amongst it controversies is that from Yves Mersch  an ECB executive board member who said Libra is a “siren call” that will ultimately lead to the formation of a “cartel-like” ecosystem.

It is noted that libra is designed in a way to give Facebook centralized control over the entire entity admist Facebook claim they won't be directly involved in the libra ecosystem.

However the group that will be managing libra project is calibra a fully owned subsidiary of Facebook which is indicative Facebook will still have full control over the ecosystem.

Facebook has acknowledged what many have been saying – that regulatory issues may be an insurmountable barrier to the launch of its Libra global cryptocurrency project.

And not only is Libra “based on relatively new and unproven technology,” the laws and regulations around digital currency are “uncertain and evolving.”

Central banks, government ministers and watchdog chiefs have been lining up to demand more information on the project over fears it could pose a threat to central bank money and financial stability, and provide a global avenue for money laundering and fraud.

In your opinion should the libra project be halted?

I do not think that Libra project should be stopped. Once Libra coin is released all the Facebook community will come to know about crypto currencies and this will increase the adaption of bitcoins.

[skarais]

I do not think that Libra project should be stopped. Once Libra coin is released all the Facebook community will come to know about crypto currencies and this will increase the adaption of bitcoins.

I think Libra is a big project, if it has to be stopped then at least there must be a pretty important reason. After it was released, I thought they would have a large community and that's what I think now.
Regulations may apply to some countries that reject the presence of the Libra project. The question is whether with the presence of Libra, financial stabilization will be disrupted or just a threat?

[eaLiTy]

Right before the launch of libra the global coin, a lot of controversies is associated with the project. Amongst it controversies is that from Yves Mersch  an ECB executive board member who said Libra is a “siren call” that will ultimately lead to the formation of a “cartel-like” ecosystem.

There is a point what the ECB executive board member is telling, if everyone comes up with their own version of a centralized coin then we will create another worm of trouble which could have major implication over the global financial system where all the fraudsters in the world will reign free and come up with something to wash their money. It is a real challenge for facebook as well as the governing bodies to come up with a resolution which will be fair for everyone.

Personally i just want one coin and that is BTCitcoin and the rest of the market should be halted  .

[coaprotet]

If they would successfully negotiate with major countries and especially with Europe, there would be no problem at all. Libra is a blockchain based Paypal, that would bring a lot of new people to the industry.

[Seghokendil]

If they would successfully negotiate with major countries and especially with Europe, there would be no problem at all. Libra is a blockchain based Paypal, that would bring a lot of new people to the industry.

yes this can affect the adoption of crypto. but many big companies and some big countries like the US balked about facebook coins. there are still many disputes about this

[DU18]

Even though Coin Libra has not been officially released yet, there have been a lot of controversies happening today, both those who agree and those who do not, but I personally consider this coin Libra will not greatly affect crypto especially bitcoin, Because, regarding price it is clear that Libra and crypto have big differences, where the bitcoin fluactive price is an attraction for investors to buy it while Libra has a stable price so that investors will find it very difficult to benefit from Libra coins, because Facebook specifically designs Libra coins as a means of payment rather than as an investment asset and of course has a price that is stable.

[Anonylz]

i haven't heard much about this coin lately, i even thought it has been halted already, though i would have love to see it continue, such big project like libra will have a massive impact on crypto, i mean, we could already see it in the past few days that the news came out, it was the talk of all social media which was also indirectly increasing the recognition of crypto because there was no mentioning of libra without crypto been mentioned.

[Mrsparks]

In my opinion the Libra project should not be halted, although a lot of check and balance ought to be put in place in order to avoid the constant breach of user personal details and abuse of data. If regulations are put in place I think the libra coin will have more of a positive impact on society.

[Akoldi_ibk]

What Libra needs is favourable regulation to put the project in check and to protect the users. Libra will bring massive adoption to crypto industry like never seen before. From a perspective of a crypto lover, I propose Libra should be given the chance to demonstrate the ability of blockchain to world on a large scale.

[befriendmywater]

Libra would really be a very big company if it were not heard and constrained by some of the government's regulations for the project.
I also disagree with the birth of Libra. because it dominates an ecosystem so large and besides, money laundering also becomes easier for facebook and other businesses.
Besides, the fact that Facebook is holding a lot of personal information of users will make the MPs more suspicious.
I really had a strong belief that Libra would not be able to be established and that it should not appear in this world either.

[NathanJB]

i haven't heard much about this coin lately, i even thought it has been halted already, though i would have love to see it continue, such big project like libra will have a massive impact on crypto, i mean, we could already see it in the past few days that the news came out, it was the talk of all social media which was also indirectly increasing the recognition of crypto because there was no mentioning of libra without crypto been mentioned.

And where have you been lately? This controversial project has been around and never left the peering eyes of the media. Before, the controversy stirred by this big project, was focused in the US only. And then it went as far as Europe and countries such as Germany, France, and others have said one or two remarks on it. Mostly, feedback from these governments are on the negative side, but then it has never been halted. There will be postponement for sure but a project as big as this will not just stop for good.

[Kotone]

How can we trust Libra if the social site Facebook is spying on us? Remember the logging in of 50million accounts on facebook incident? Are you not confuse, how suddenly there's a breached in the system? Or more like it they trying to monitor some potential threat on their company. I guess it's all facebook doing and not an error alone. Libra has now become a mainstream and trending project but most crypto society is frying out its development even its platform capability.

[Retainly_Collie]

Right before the launch of libra the global coin, a lot of controversies is associated with the project. Amongst it controversies is that from Yves Mersch  an ECB executive board member who said Libra is a “siren call” that will ultimately lead to the formation of a “cartel-like” ecosystem.

It is noted that libra is designed in a way to give Facebook centralized control over the entire entity admist Facebook claim they won't be directly involved in the libra ecosystem.

However the group that will be managing libra project is calibra a fully owned subsidiary of Facebook which is indicative Facebook will still have full control over the ecosystem.

Facebook has acknowledged what many have been saying – that regulatory issues may be an insurmountable barrier to the launch of its Libra global cryptocurrency project.

And not only is Libra “based on relatively new and unproven technology,” the laws and regulations around digital currency are “uncertain and evolving.”

Central banks, government ministers and watchdog chiefs have been lining up to demand more information on the project over fears it could pose a threat to central bank money and financial stability, and provide a global avenue for money laundering and fraud.

In your opinion should the libra project be halted?

I do not think that Libra project should be stopped. Once Libra coin is released all the Facebook community will come to know about crypto currencies and this will increase the adaption of bitcoins.

In fact, it will have a lot of influence on the market as well as cash. I do not know whether Libra should appear or not

[cahbagus555]

How can we trust Libra if the social site Facebook is spying on us? Remember the logging in of 50million accounts on facebook incident? Are you not confuse, how suddenly there's a breached in the system? Or more like it they trying to monitor some potential threat on their company. I guess it's all facebook doing and not an error alone. Libra has now become a mainstream and trending project but most crypto society is frying out its development even its platform capability.

It's hard to trust the security of our funds in companies that have spied on their users like Facebook. But the idea issued by Facebook about Libra Coin provides a perspective that transactions can be easier and cheaper.

[Vishnu.Reang]

For the past few months, I haven't heard anything positive about Libra in the mainstream media. It looks to me that the project will be either delayed, or dropped altogether. Libra was Zucker's idea of getting some forward momentum for the stagnant Facebook. FB is facing a stagnation in user-growth and loss of market share to other social media platforms such as Twitter and Reddit.

[alphaboon]

My opinion is simple, you don't have to block, ban, outlaw Libra, it will die of its own accord.   I don't really see anyone going from Bitcoin (decentralized) era back to the fiat old days

[Tylev]

I do not think that Libra project should be stopped. Once Libra coin is released all the Facebook community will come to know about crypto currencies and this will increase the adaption of bitcoins.

I think Libra is a big project, if it has to be stopped then at least there must be a pretty important reason. After it was released, I thought they would have a large community and that's what I think now.
Regulations may apply to some countries that reject the presence of the Libra project. The question is whether with the presence of Libra, financial stabilization will be disrupted or just a threat?

There are many good reasons to stop the Libra project. Facebook violated the privacy of its users many times and, in connection with this, recently paid five billion dollars in penalties. However, first of all, I believe that the global digital currency should not be issued by a private corporation. This is too dangerous for global financial stability. As the idea arose, a similar coin will be issued in any case. It is no accident that China is in a hurry to get ahead of Libra and is urgently launching its stable CBDC coin.

[voltesbit777]

Right before the launch of libra the global coin, a lot of controversies is associated with the project. Amongst it controversies is that from Yves Mersch  an ECB executive board member who said Libra is a “siren call” that will ultimately lead to the formation of a “cartel-like” ecosystem.

It is noted that libra is designed in a way to give Facebook centralized control over the entire entity admist Facebook claim they won't be directly involved in the libra ecosystem.

However the group that will be managing libra project is calibra a fully owned subsidiary of Facebook which is indicative Facebook will still have full control over the ecosystem.

Facebook has acknowledged what many have been saying – that regulatory issues may be an insurmountable barrier to the launch of its Libra global cryptocurrency project.

And not only is Libra “based on relatively new and unproven technology,” the laws and regulations around digital currency are “uncertain and evolving.”

Central banks, government ministers and watchdog chiefs have been lining up to demand more information on the project over fears it could pose a threat to central bank money and financial stability, and provide a global avenue for money laundering and fraud.

In your opinion should the libra project be halted?

At present, there is no concrete announcement as to whether it will actually launch its true start in the crypto business. Someone says next year but no month and date yet. If it continues to launch, I believe that it will have control and manipulation with every potential FB user and that it can also be a huge success for big companies in this regard.

[dannybrown]

It seems like it is already halted. But I do not think it should be. Imagine a blockchain space where Facebook uses its own cryptocurrency. Can there be a better marketing for cryptocurrencies? When people get to know more about Libra, they will be more interested in others. This way, it will be easier to get new investors in the market which will make crypto better-valued.

[J1mb0]

I think Libra's launch will make the market more exciting. Competition will promote the development of the cryptocurrency market.
For those who do not like Libra people simply ignore it.