Should the libra project be halted?

[$Andreyka$]

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?

The Libra project is very similar to ripple, in that it does not have decentralization ... This makes it possible to manipulate the exchange rate, up to a complete collapse of the price. I believe that the libra is contrary to the main principles of cryptocurrency. She may have a future, but it will be difficult for them to exist.

[lumierre]

no, because lybra has an important influence on crypto adoption. if the project is stopped, I think many investors will be disappointed with the decision. the lybra project has been awaited by old investors and new investors.

It will be launched, otherwise, FB would be blamed in making much ado about nothing. Some countries, Japan, for instance, know that Libra will appear soon. The other day, the head of the central bank of this Asian country called everybody to cooperate in the regulation of stable coins, such as Libra, which is run by FB. Besides, this country has created a team of specialists working at Libra.

[Tipstar]

no, because lybra has an important influence on crypto adoption. if the project is stopped, I think many investors will be disappointed with the decision. the lybra project has been awaited by old investors and new investors.

It will be launched, otherwise, FB would be blamed in making much ado about nothing. Some countries, Japan, for instance, know that Libra will appear soon. The other day, the head of the central bank of this Asian country called everybody to cooperate in the regulation of stable coins, such as Libra, which is run by FB. Besides, this country has created a team of specialists working at Libra.

The project has not being able to achieve it's previous roadmap and is in near halt to make things clear and have a certain future. Though Facebook has expertise and capital enough to go on with its project, they would not risk to make US angry as US is the largest market for Facebook. They'd rather abandon Libra than the US.

[skarais]

The project has not being able to achieve it's previous roadmap and is in near halt to make things clear and have a certain future. Though Facebook has expertise and capital enough to go on with its project, they would not risk to make US angry as US is the largest market for Facebook. They'd rather abandon Libra than the US.

Facebook has sufficient funds to realize their project.  But if they are faced with a big risk then I think they will step down and cancel the launch. It's just that, quite a lot of people have been waiting for Facebook to launch Libra since the news was published.
When the roadmap has not been reached, they will need more time to realize the project.

[setialovers]

no, because lybra has an important influence on crypto adoption. if the project is stopped, I think many investors will be disappointed with the decision. the lybra project has been awaited by old investors and new investors.

It will be launched, otherwise, FB would be blamed in making much ado about nothing. Some countries, Japan, for instance, know that Libra will appear soon. The other day, the head of the central bank of this Asian country called everybody to cooperate in the regulation of stable coins, such as Libra, which is run by FB. Besides, this country has created a team of specialists working at Libra.

However Facebook is a company that has a good lawyer to defend every step they take. With a large budget and also the potential that will be obtained, I think Facebook will continue to issue Libra Coin despite many conflicts in the regulatory field.

[Leyss]

In my opinion, Libra, if it is yet to be released, will indeed pose a certain danger to users in terms of the possibility of disclosing our confidential information. For states, in addition, financial stability is also important. Transferring global financial security into the hands of a private business structure is very risky. However, let governments deal with this issue for now. It seems that they categorically intend to prevent Libra from entering our world. Even if this coin appears, which I deeply doubt, then we can decide to support it or boycott it. A similar coin will appear all the same, but let it not be issued by Facebook.

[Vaculin]

In my opinion, Libra, if it is yet to be released, will indeed pose a certain danger to users in terms of the possibility of disclosing our confidential information.

I'm sure some people are aware of that and they might get rid of Libra, however, look at how big the facebook users and a certain percentage of that if facebook will get them to use Libra, that will bring more money to their business.

Personally, I am using facebook and I am willing to use Libra when it will be successfully launch as I'm confident the government with be more strict with them and they will be monitored closely. 

[Arsenyo]

Lawmakers in the USA and France have already called for the project to be halted. So, I am not sure that Libra will be launched in 2020. There are so much fuss about the launch of Libra in media, but all we have is delaying, investigations, doubts and opposition. Even Zuckerberg put Libra launch date in doubt. I try to avoid Facebook, the worst social network for me, so I don't care if Libra succeed or not.

[matchi2011]

Lawmakers in the USA and France have already called for the project to be halted. So, I am not sure that Libra will be launched in 2020. There are so much fuss about the launch of Libra in media, but all we have is delaying, investigations, doubts and opposition. Even Zuckerberg put Libra launch date in doubt. I try to avoid Facebook, the worst social network for me, so I don't care if Libra succeed or not.

That's being published before, this two countries state there stand about libra projects and there's a lot of questions regarding to how things will work inside this stable and centralized project. The fate will be in the hands of its owner and the team behind the only thing right now is about expectations and different opinions about the potential and the possibilities of the future of this project.

[Beparanf]

Lawmakers in the USA and France have already called for the project to be halted. So, I am not sure that Libra will be launched in 2020. There are so much fuss about the launch of Libra in media, but all we have is delaying, investigations, doubts and opposition. Even Zuckerberg put Libra launch date in doubt. I try to avoid Facebook, the worst social network for me, so I don't care if Libra succeed or not.

Im afraid of doing any advertisement or clicking in facebook going into another website, I just browse there to read some updates and that's it. Some people already use the platform too bold to display all their info. Libra is good to some who uses Facebook as means of their business since the transaction might get smooth but it may somehow leads to exposure of the identity which is not what the blockchain purpose should be.

[Kelvinid]

Lawmakers in the USA and France have already called for the project to be halted. So, I am not sure that Libra will be launched in 2020. There are so much fuss about the launch of Libra in media, but all we have is delaying, investigations, doubts and opposition. Even Zuckerberg put Libra launch date in doubt. I try to avoid Facebook, the worst social network for me, so I don't care if Libra succeed or not.

That's being published before, this two countries state there stand about libra projects and there's a lot of questions regarding to how things will work inside this stable and centralized project. The fate will be in the hands of its owner and the team behind the only thing right now is about expectations and different opinions about the potential and the possibilities of the future of this project.

If the team want it to run their project, they will follow what the government that they might required. Cause I think that this is all about transparency or the government isn't satisfied of their market proposal.
This is big challenge for the team and they are only the one that could solve it. We all just waiting what will be the result of their pursue.

[poptok1]

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

I think exactly the same. Nothing is necessary in terms of regulations or changes in current law.
This project will be hyped and shilled for but conscious people will remain sceptical, and will talk about how dangerous this idea is for privacy and personal freedom. It eventually will end up as a niche and temporary wonder.
There was a social-media platform in my country, that was in pre facbook times, they introduced something similar to dedicated, centralised currency. That was a moment of a downfall for this platform. Sudden monetisation destroyed the credibility, flood of nonsense and spam destabilised user base and soon after the platform practically ceased to exist. Hopefully F. will share the same fate. 

[FiiNALiZE]

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.

Libra is not going to make the market exciting. It is just like any other coin.

[X-ray]

Too much controversies despite the fact that this coin is basically just another stablecoin. If there USDT and so many stablecoins there already exist why the hurdle? We could just move on and just stick to the usual way of using stablecoin it's not like cryptocurrency will be doomed if libra is halted anyway.
You also need to remember that facebook has always got a problem with violating privacy of their users, if it's to be happen again when they are already releasing Libra imagine the cryptos will take all the blame.

[asdalani]

Facebook has acquired Servicefriend, a startup that built bots — chat clients for messaging apps based on artificial intelligence to boost the Libra reach my knowing the usage of consumers.

I hate Libra from the very fact it comes from Mark who has been spying on all users data and using it towards the campaigns in US elections.

To read about the accusation of Servicefriend , you can click this link : https://techcrunch.com/2019/09/21/facebook-servicefriend/

Facebook should stop making a coin though it's the Internet so who cares.

[altcointalk14]

I am very torn as to whether Libra should be created at all. On the one hand, it will be the first step to introduce cryptocurrencies into mainstream, but on the other hand, I have big doubts whether it will be cryptocurrency at all. If Libra turns out to be centralized like Ripple, it can bring more bad things than good.

[asdalani]

I am very torn as to whether Libra should be created at all. On the one hand, it will be the first step to introduce cryptocurrencies into mainstream, but on the other hand, I have big doubts whether it will be cryptocurrency at all. If Libra turns out to be centralized like Ripple, it can bring more bad things than good.

Ripple would not help Libra. They are competitors. So that's a bad idea.

[efxtrader]

I am very torn as to whether Libra should be created at all. On the one hand, it will be the first step to introduce cryptocurrencies into mainstream, but on the other hand, I have big doubts whether it will be cryptocurrency at all. If Libra turns out to be centralized like Ripple, it can bring more bad things than good.

It was stated from the beginning that Libra Coin is like a stable coin and that means centralized cryptocurrency. I think it's different between XRP and Libra Coin because Libra Coin is a stable coin product from Facebook while XRP is not a stable coin

[MonsterV]

Too much controversies despite the fact that this coin is basically just another stablecoin. If there USDT and so many stablecoins there already exist why the hurdle? We could just move on and just stick to the usual way of using stablecoin it's not like cryptocurrency will be doomed if libra is halted anyway.
You also need to remember that facebook has always got a problem with violating privacy of their users, if it's to be happen again when they are already releasing Libra imagine the cryptos will take all the blame.

How can crypto be destroyed when libra is stopped while libra itself has not been officially launched. In my opinion, even though libra is halted, this will not affect other crypto, it will only cause temporary disappointment.

Libra is not an advertising platform so I don't think they will experience privacy issues and they will certainly learn from mistakes beforehand. If indeed Libra will be launched, Facebook itself will provide even tighter policies.

[judeafante]

I don't like Libra for having a centralized network but I like how it is pissing many regulators from different countries. Should it be halted? I don't think so but that's not for us to decide. Some countries will ban them for sure but so much money has already been poured into this project and stopping is no longer an option for them.

I agree that let a country ban it, if they think it's against their policy Libra coin will have a special role in Cryptocurrency adoption, it has created a widespread news and those who are ignoring the power of Cryptocurrency are now, taking a second look on how Cryptocurrency works and what's on it, this create awareness.