What do you think about the Facebook Libra cryptocurrency idea?

[redsun114]

libra is a stable coin like USDT, the idea of libra might want to rule the world in terms of payment I think libra will compete with us dollar. but in recent months the news of Libra has gotten worse and many of their partners left Libra because many countries do not support the presence of Libra.

I think that Facebook actually went out of boundary by trying to create a project that will be used as global currency when they know that the coin will be centralized and can easily be influenced unlike bitcoin that is decentralized and cannot be influenced by anyone. This is exactly one of the disadvantages of decentralization that we are seeing here now.

The best that Facebook would have actually done is just to limit the usage of their coin to Facebook advertisement platform where their business clients can just purchase the coin to make payment for their ad when it is about to start or ended, this project would have been very successful if they had done that, but with this global idea, countries will definitely not accept it because they will not want to leave the affairs of their country into the hands of an external factor.

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[educart]

Facebook now has no choice but to look for lobbyists. If their documents were not well prepared to answer all disputes arising. But I also do not understand why they should answer to US senators when they intend to launch a company in Switzerland, which looks at them with a positive. there is no logic in this

[biddicoin]

Libra has big obstacle; from libra association, from government, regulations.
I think it would be hard for libra. moreover, bad experince in facebook about its security
most people is doubt with it. so, i dont think it would be big in the future

the good thing is, we know that many companies joined in cryptocurrency
it can make people know how good cryptocurrency is.

[Kambal2000]

A dubious proposal to use a libra coin for banking services, which has not yet completed the regulation of this coin. Of course, a digital currency will be useful for safe and fast transactions, but why then does the minister not offer banks to initiate the creation of a stable coin inside the country?

Still, I don't want to cooperate and really not interested in Libra at all as I know that they are just using the advantage of crypto and their name for them to attract more users, but as of the moment, they are having time and struggling how they are going to do this and how they are going to launch as it has been said that there's a lot of their team back out with them.

[Waterfull446]

A dubious proposal to use a libra coin for banking services, which has not yet completed the regulation of this coin. Of course, a digital currency will be useful for safe and fast transactions, but why then does the minister not offer banks to initiate the creation of a stable coin inside the country?

If the initiative is organized by large companies and private banks, then it is possible that a transition to digital currencies will be made. But the central bank will definitely not make such hasty decisions.

Do not rule out government regulation. The banking sector notes the benefits of decentralization, and I know that many countries are creating their own national cryptocurrencies. But most often, the initiative comes from countries in Africa, South America, where the monetary system is not very stable

Such initiatives often come either from countries where the economic situation is difficult or from the progressive East, which are in pursuit of innovation. The conservative European public needs time to prepare. Taklimakan platforms can help with the study of cryptocurrencies and obtaining a new financial education. After all, crypto is called the money of millennials, and an information policy needs to be pursued to show the government and society all the possibilities of blockchain and cryptocurrencies.

After Brexit, the UK offers more innovative solutions. But they can be understood. The dollar is not an ideal currency, especially in the current financial condition of the American market. But cryptocurrencies are easily exchangeable and if you withdraw your stable coin, it doesn’t take so long for it to become more relevant even than fiat.

[chaoscoinz]

   I believe Libra will bring the world together into the cryptocurrency space with a massive cryptocurrency adoption like theres never been before, if it ever successfully launches. Libra is a centralized platform and cryptocurrency, but it stands to serve for a greater purpose. Facebook is the world's most popular social platform and together with their partnerships with Occulus Rift, WhatsApp, and Instagram gives them a far reach around the globe.
   Cryptocurrency adoption has been picking up for a few years, but still nothing exponential. Libra could potentially be that exponential drive that could increase adoption rapidly.

[deadthings]

I am not a big fan of centralized cryptocurrencies of which Libra is one. There is a row between the US government and Libra ( Why Facebook's libra cryptocurrency is in trouble  ) and I don't care whether Libra wins this row or not.
It will be just another controlled digital currency and has no resemblance to real cryptocurrency.

[jhontwis]

I think Facebook takes this job seriously. But the world is not ready for this change. The number of users registered to Facebook is more than the number of customers in banks. In a moment, Facebook will be the biggest money center in the world. This is terrible for those who run the economy.

[Gheka]

I am not a big fan of centralized cryptocurrencies of which Libra is one. There is a row between the US government and Libra ( Why Facebook's libra cryptocurrency is in trouble  ) and I don't care whether Libra wins this row or not.
It will be just another controlled digital currency and has no resemblance to real cryptocurrency.

For everyone in crypto, Libra is really not a character that can make us appreciate when fundamentally, it cannot be called an official crypto, the rules and regulations from the authorities have made it more like a stock, instead of a traditional crypto. But I am wondering why we are not on the benefit side to consider libra because the idea of libra is also the beginning of a new form of investment on a global scale, we can see how successful bitcoin has been for so many years, why don't we give libra a chance?