What do you think about the Facebook Libra cryptocurrency idea?

[nreal]

I was so excited when Facebook introduced this project, I used to think it could bring good things to the world of cryptocurrency, but when it was announced. I was wrong, Libra is simply a currency to realize Facebook's ambition to dominate, and revenue is what Facebook is aiming for.

[Reid]

Some say it should be given a chance.
But that is a NO for me.
Do not give that Zuckerberg anymore power specially when it comes to monetary.
He already had facebook, what the hell is he still aiming for?
I just dont get it. Does people greed really that unstoppable. He had the money that could make him live two times his life span. Time to stop.
He just want the power now. The power to control the financial industry which is really bad news for all of us.

[Ss4sukE]

I don't think there is anything more to expect for Facebook coins, let alone I hear a lot of negative news about their projects, especially many companies that leave them. I don't know what they decided might be a good choice so I won't talk much about Facebook coins anymore.

[enhu]

I don't think there is anything more to expect for Facebook coins, let alone I hear a lot of negative news about their projects, especially many companies that leave them. I don't know what they decided might be a good choice so I won't talk much about Facebook coins anymore.

Not all the news are telling you everything. You can see how big the foundation is compare to those who quit being their partner. You might not be seeing developments to this Libra, it will probably forgotten for months until all these hype die down before they'd suddenly be approved. Since their coin is just pegged to fiat, why do you think some companies like bitfinex are allowed to create like tether?

[MCDev]

Now the bigger question is that if Libra can take off in 2020! I guess no! It is facing a lot of regulatory challenges already and many popular brands are pulling away their association from Libra. I will be surprised if they can roll out this project in another 5 years!

So Libra will not be launched in 2020 then what about some articles about preaching Libra, because many say after coming Libra the development of cryptocurrency will increase, there is also a mention that the coming of Libra will bring chaos in the market, so which is more correct.

I don't think Libra will create market chaos. According to many sources, Libra is a stable currency, so Libra will compete with stable currencies like USDT instead of Bitcoin or ETH. Therefore it will not create chaos.

[Fredomago]

Some say it should be given a chance.
But that is a NO for me.
Do not give that Zuckerberg anymore power specially when it comes to monetary.
He already had facebook, what the hell is he still aiming for?
I just dont get it. Does people greed really that unstoppable. He had the money that could make him live two times his life span. Time to stop.
He just want the power now. The power to control the financial industry which is really bad news for all of us.

Sharing your sentiments regarding with this, I don't feel that  the concept of this coin is to bring help to crypto industry. It seems that Mark is aiming for wider control over financial system. There's no need to change the real intentions of this market, having freedom with financial institutions and enjoy being anonymous in some form. With libra's existence and being embrace conflict will emerge, decentralization will change up if more will support the concept of this  project..

[tenakha]

Libra is far from the world of cryptocurrency and can not be considered as a coin. Its most important feature was the agreement with most big companies otherwise, it is not very difficult to find reliable stable coins in the market. However, the deterioration of some of these agreements reduces expectations. For example, if facebook had not explained any of these before, even one of this agreements would have affected it well.

[goto22]

It's been a while I heard about Libra. I doubted my friend when I heard him say that Facebook (or should I say Zuckerberg) owns Libra. After then, I also say an airdrop (I don't know if it was scam or the real Libra coin).

Just a few hours ago, I was searching for an account on twitter when I saw a tweet which says that 2 senators had ask Visa and PayPal to pull away from Libra. Except that, there have been a lot of warnings about Libra coin. To be honest here, thinking of the mass population of Facebook users (over 2.3 billion Facebook users), I'm afraid that Facebook Libra coin would cause a big havoc.
Looking at one of the pictures I found on twitter, it's obvious that a lot of companies are pulling out already.

What's your take on Facebook Libra?

I am not surprised, Facebook has a habit of not listening to the authorities. While I would usually welcome that, its defiance is not a good thing. Facebook is after the profit for itself. It doesn't want to help people, and it doesn't follow the rules. Mark managed to pull through some tight spots in the past, but it needs either the community support or the authorities backing him up, and he's got neither. No, I don't expect much from Libra, especially since it is barely a cryptocurrency at all, and it is a heavily centralized stablecoin.

[#Darren]

The idea is pretty great, to create a Paypal competitor based on blockchain technology, cross boarder payments are great and would help to save on fees. But actually, FB has made it wrong, by doing this system in a centralised way.

[coiningz]

This project must be halted. If it will released it will give facebook too much power

[Red-Apple]

What's your take on Facebook Libra?

from the first day that the news about Libra hit the media i said that it is a centralized shitcoin with no good future compared to decentralized cryptocurrencies specifically bitcoin. specially since in early days people kept comparing the two together although they have nothing in common.

they started big with a lot of big names like Mastercard, Paypal, Visa,... but now that all of them are dumping the partnership and going out the failure of Libra is pretty much guaranteed.

[NathanJB]

What's your take on Facebook Libra?

from the first day that the news about Libra hit the media i said that it is a centralized shitcoin with no good future compared to decentralized cryptocurrencies specifically bitcoin. specially since in early days people kept comparing the two together although they have nothing in common.

they started big with a lot of big names like Mastercard, Paypal, Visa,... but now that all of them are dumping the partnership and going out the failure of Libra is pretty much guaranteed.

It looks that way. But I think Mark and the rest of the big companies that decided to stick it out with him and the grand project will not quit too easily. They will certainly postpone the launching. That is something that can be seen clearly since we are now at the end part of the year and their launching is supposed to be done in the first half of 2020. But there must still be a plan B. They might try to relaunch this in the coming months or years.

[J1mb0]

I've never heard of Libra's aridrop, maybe it's a scam project that wants to gather information from people.
As far as I know Libra is a stable currency and is issued by Facebook, but there are some regulations and barriers so there is no official release date.

[Chris Barth]

Some say it should be given a chance.
But that is a NO for me.
Do not give that Zuckerberg anymore power specially when it comes to monetary.
He already had facebook, what the hell is he still aiming for?
I just dont get it. Does people greed really that unstoppable. He had the money that could make him live two times his life span. Time to stop.
He just want the power now. The power to control the financial industry which is really bad news for all of us.

Easy bro.... I don't think Zuckerberg is doing this for the money. Maybe he believes that this project is going to influence the world positively (because of the billions of FB users available). However, I'm afraid he might be miscalculating something.

[Chris Barth]

Now the bigger question is that if Libra can take off in 2020! I guess no! It is facing a lot of regulatory challenges already and many popular brands are pulling away their association from Libra. I will be surprised if they can roll out this project in another 5 years!

So Libra will not be launched in 2020 then what about some articles about preaching Libra, because many say after coming Libra the development of cryptocurrency will increase, there is also a mention that the coming of Libra will bring chaos in the market, so which is more correct.

I don't think Libra will create market chaos. According to many sources, Libra is a stable currency, so Libra will compete with stable currencies like USDT instead of Bitcoin or ETH. Therefore it will not create chaos.

Don't be too sure about it.... You don't just expect success like that. This is the same thing I said in one of my previous topics about bitcoin. You can't just be thinking of bitcoin increasing ASAP; also think of it reducing and crashing too. Same case here... Don't be too sure about the success of Libra. While seeing the success, remember that there's no great success without great challenges. In other words, Libra "could" create a lot more than chaos.

[Eclipse26]

I've been hearing a lot lately that a lot of company partnership of Libra are already pulling out. Well I don't blame them, Libra ain't doing good enough compare on what's expected. Libra came from a famous company that's why it gained a lot of attention at first but now, it's not even achieving much noise in the market. Mark should just focus on facebook. Facebook is very famous but not all users even gave their attention on Libra at all.

[xiboothrezi]

Libra is a stable coin, many people regret it, because there isn't much that can be done in investing with it. But I see from the other side. Mass adoption of cryptocurrency for something real, especially those involving large communities like Facebook. With the legality and support of official and independent associations, this makes cryptocurrency one step closer. I came to think that there have been obstacles that have been deliberately carried out in order to maintain the existence of an existing "body". If this is truly realized, there will be changes that are more real and legal than cryptocurrency.

[sandra_x]

It is basically the control of money to a tech company, much like what the central bank does with fiats- Tech company and not the people. Unlike bitcoin where the power lies with the people. That is why Libra is facing so much legal hurdle to over come, losing so much of their partners. It does not in a good way represent a decentralization or 'trustless' money

[Dart18]

I am against this.

They are givingg Mark Zuckerberg a chance to dominate the financial industry.
If this goes on then he will be a part of the manipulators of the world which we all dont want to since our privacy can also be in danger.
Why? Facebook. A lot of people are using that application for ease in communicating with their love ones.
It cannot be stopped and it is still growing everyday.

Now, he have your money and also your information. What do you think is next?

[JCviggen]

I've been hearing a lot lately that a lot of company partnership of Libra are already pulling out. Well I don't blame them, Libra ain't doing good enough compare on what's expected. Libra came from a famous company that's why it gained a lot of attention at first but now, it's not even achieving much noise in the market. Mark should just focus on facebook. Facebook is very famous but not all users even gave their attention on Libra at all.

their partnerships stopped because major campaigns are afraid of government sanctions. I am sure that if Libra can give to the state what it wants - all these campaigns will come back again and will ask Facebook to restore partnership