Libra left alone by a big payment processor

[ChrisPop]

PayPal has pulled their guns out of the Libra project according to CoinTelegraph. Do you guys think Libra is going to be a big fail of Facebook? Would you actually use a Facebook based coin to make payments at businesses and friends taking into account the previous press scandals like Cambridge Analytica?

[Febo]

PayPal has pulled their guns out of the Libra project according to CoinTelegraph. Do you guys think Libra is going to be a big fail of Facebook? Would you actually use a Facebook based coin to make payments at businesses and friends taking into account the previous press scandals like Cambridge Analytica?

No one knows what is behind it. But in general, why would you give Facebook so much money to run a node. Paypal can copy them and sell nodes half cheaper and not just pay but earn.

[TaliskerDarkStorm]

Lol. 2 shit company. Paypal is selling user transactions to Amazon, Facebook is selling the user's messages documents to Amazon. Amazon buying from both PayPal and Facebook. They are centralized, human-exploit-oriented companies.

They are so much rich because they have exploited, sold people privacy, documents, messages etc. I wish the worst for all for them!

That's why blockchain and bitcoin invented, to save our privacy, our lives. As long as I live, I'll always support the blockchain and its technologies. And never invest in Libra and other giant big companies shitcoins.

Blockchain and Bitcoin can do it alone with the support of other strong altcoins like Ethereum, Binance Coin, EOS. I did not mention the XRP name because it's centralized and working with banks and i don't like it too.

[smyslov]

PayPal has pulled their guns out of the Libra project according to CoinTelegraph. Do you guys think Libra is going to be a big fail of Facebook? Would you actually use a Facebook based coin to make payments at businesses and friends taking into account the previous press scandals like Cambridge Analytica?

It will have no effect at all so far, but if big names that are part of the group left, then Libra coin has something to worry about, I don't like Paypal to be part of the team because of their policy in Cryptocurrency, they can trace people who uses their system to trade Cryptocurency and they are in a hurry to limit people, they are robbing their users with this kind of system.

[partysaurus]

PayPal has pulled their guns out of the Libra project according to CoinTelegraph. Do you guys think Libra is going to be a big fail of Facebook? Would you actually use a Facebook based coin to make payments at businesses and friends taking into account the previous press scandals like Cambridge Analytica?

It will have no effect at all so far, but if big names that are part of the group left, then Libra coin has something to worry about, I don't like Paypal to be part of the team because of their policy in Cryptocurrency, they can trace people who uses their system to trade Cryptocurency and they are in a hurry to limit people, they are robbing their users with this kind of system.

but losing paypal is still a big deal for libra , alot of people that never used crypto use paypal to do what crypto does, so it would have been a nice gateway for alot of people into the world of crypto.

[alyssa85]

PayPal has pulled their guns out of the Libra project according to CoinTelegraph. Do you guys think Libra is going to be a big fail of Facebook? Would you actually use a Facebook based coin to make payments at businesses and friends taking into account the previous press scandals like Cambridge Analytica?

The European Union has launched an investigation into Libra as well.

I don't think Libra will get off the ground - there is too much resistence, mainly because governments don't like or trust Zuckerberg.

If Libra had been announced by someone else, a friendlier businessman, it would have had a better chance. But Zuckerberg is toxic.

[Alexandr Kirichenko]

I don't think Libra will be born either. There is a lot of resistance to this project. But as you know Zuckerberg can master it all. so that until not think that is worth build any forecasts. But it seems to me that no matter how we feel about Libra. It will be a revolution in the crypto industry. Because if it appears, it will be fully legalized and with the appropriate permissions. This will stir up the crypto community.

[Ibizugbe1]

PayPal don't want the big hammer of any government, they had to just take a leave in peace, so no government accuse them of trying conspire with Libra to controlling the financial sector for them. As it stands we can't even tell if Libra will still be launched because of too many government opposition.   

[alyssa85]

But it seems to me that no matter how we feel about Libra. It will be a revolution in the crypto industry. Because if it appears, it will be fully legalized and with the appropriate permissions. This will stir up the crypto community.

What nobody has asked or established is this: are Facebook users really interested in crypto? They might not be, they might be on Facebook simply for social media stuff and want their finances kept separate and simple.

[livingfree]

I would like to see it launch and live first before giving my opinion. Maybe PayPal sees that it doesn't fit their style because they are also into payments for a long time but this won't work out if they'll stay to Libra project.

Facebook is keeping every single data that we use with their platform so it's also possible with Libra that we have no privacy with them for each transaction.

[joinfree]

PayPal has pulled their guns out of the Libra project according to CoinTelegraph. Do you guys think Libra is going to be a big fail of Facebook? Would you actually use a Facebook based coin to make payments at businesses and friends taking into account the previous press scandals like Cambridge Analytica?

I think Libra  has already  failed because world  dont trust  mark Zuckerburg.  Zuckerburg  is greedy  and selfish so  there  is no way  we can trust  this guy with our  money.  paypal  is now out very  soon all the  major  supporter  will step  back  so  i believe  Libra  project  has  already  failed. 

[akamit]

I don't like Paypal to be part of the team because of their policy in Cryptocurrency, they can trace people who uses their system to trade Cryptocurency and they are in a hurry to limit people, they are robbing their users with this kind of system.

With or without Paypal, Libra will do the same thing.

Paypal, Facebook, Google, Twitter, any big names are meant to track their users' activity. Even when we are shitting I guess.

[xenomorphe1]

I think Libra will be a failed project and won't go anywhere. But we never know, anything can change very fast. But i don't think it will be accepted everywhere. It start doesn't look good.

[Darooghe]

This is excellent news and sooner than expected. I’m glad to see Libra is getting closer to failure. It shows the strength of decentralization. Bitcoin is unstoppable, it’s impossible to create another Bitcoin and anyone who tries instead of accepting the consensus will fail. Bitcoin is based on being a peer to peer digital payment method that means there's no organization in the middle, Money goes from me to you. There's not a single authority, company, or service that runs and controls Bitcoin. it's permissionless and open. Anyone can join and use the network. No one can block your transaction because they don't like it, and no one can stop you from using the system. It's truly peer to peer digital money. It works and it's beautiful, unlike Libra.

[Aabcde]

Personally, I'm not very interested in Libra. Because there is nothing new in it. That is to say Libra as a financial system like coins in general. I don't know in the future Libra will fail or succeed. If you look at where it came from, maybe Paypal's exit from the team is not a serious matter when viewed in terms of funding. Because Facebook itself made a profit of US $ 16.9 billion in the first semester of 2019. (source: https://katadata.co.id/berita/2019/08/01/melebihi-perkiraan-pendapatan-facebook-dan-twitter-naik-hingga-28)
My conclusion, even though Libra has a lot of funds even without PayPal's support, this negative issue will still penetrate the minds of investors or crypto activists if there is something bad about it that makes PayPal leave.

[don.key]

If Libra had been announced by someone else, a friendlier businessman, it would have had a better chance. But Zuckerberg is toxic.

Say hi to Gram https://decrypt.co/9637/telegram-slips-past-regulators-busy-trashing-libra

This is the only alternative at this time and I believe it is "slipping under radar" is not only because "regulators are busy" but also -as you stated- because of toxic personality of Zuckerberg. Facebook is incredibly selfish, they will sell user data to anyone and cooperate with totalitarian governments. Telegram on another hand does not bend over that easily. They are a much more friendlier looking system that has a potential to grow into real ecosystem with Gram.

[landoffaucets]

Do you still thing that big banks and goverments will allow some company to create an alternative worldwide payment method?
That would cause a collapse of traditional system that is full of fraud and dishonesty.

[don.key]

Do you still thing that big banks and goverments will allow some company to create an alternative worldwide payment method?
That would cause a collapse of traditional system that is full of fraud and dishonesty.

Let's not paint everything that currently exists black. After all, this traditional system is what allows you (I hope) and certainly me to live in much, much better conditions then they could have been.

You also cannot declare fight over and lost before it even begun. Someone has to start, blockchain could easily be a disruptive tech but the way it is used now (Bitcoin and alts) it will lead nowhere. What is needed is integration is rechnology in user friendly manner into already existing ecosystem such as Telegram or Facebook.

I sincerely hate Facebook and everything what is related to it but Telegram is wonderful

[Vitamin_52]

if coin created from for scandals perhaps she slightly will fall in price, but then all will be forgotten and will return in its circle. I do not think that such a large company will miss its chance to monetize its funds in the crypto world

[NathanJB]

PayPal has pulled their guns out of the Libra project according to CoinTelegraph. Do you guys think Libra is going to be a big fail of Facebook? Would you actually use a Facebook based coin to make payments at businesses and friends taking into account the previous press scandals like Cambridge Analytica?

It is not only PayPal that has suddenly decided to get out of the Libra project. Visa as well as Mastercard have also decided to leave the Facebook-initiated project. And there may also be others that are thinking twice right now, after giving their commitment to the project. There is something fishy all over these decisions. These decisions were made after all the hearings, meetings, and discussions initiated by the government were conducted regarding the project. It is even safe to say that these are not truly independent decisions.