Zuckerberg: we will exit from project Libra !!!!

[CryptoBry]

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

I was suggesting this idea last week in my post on Facebook. In fact, it is getting too late because the exit of Facebook from Libra should have been done months ago. The biggest reason why many regulators and politicians are not giving Libra a gate pass is because Libra is heavily associated with Mark Zuckerberg and his Facebook. They are concern that what happened on Facebook regarding privacy and data leaks can also be done in Libra and of course they are raising issue with Libra being a centralized platform controlled by a few individuals and organizations. I am pushing that Mark should do the divestment as soon as possible maybe tomorrow at 12:00 PM. Mark, come on, please do it.

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[r32godzilla]

Who knows what is the best move for global cryptocurrency adoption. And probably we will never know until Libra will be launched.

But it is good to know, that all centralized cryptocurrencies likely will be canceled due to regulations, go Bitcoin, go!

[blckhawk]

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

It's better if you had provided links to verify the thread. Anyways, it's not much of a deal. Libra is just another altcoin. The only thing different to it is that it's supposed to be ran by Facebook, which can influence the public. And another thing is that I think he can't get the votes of legislators because of the fact that Facebook has been involved in privacy concerns, considering the amount of data Facebook has in each of its users, add to it the supposed to be Libra, which would also run through their databases, it would just make things worse.

[silversurfer1958]

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

I can sympathize with them. Their project is too good but the scale is too large and the US is afraid they will dominate the economy. that will cause much harm to the politics of their country in the future.
I think Libra should scale down and show more transparency through their new approach. This will make it easier for them to pass Congress.

[TaliskerDarkStorm]

Thank the Lord. I've been against this project since the beginning. Because it was obvious that MZ was stealing user data and selling it. I was sure someone like that would tarnish the blockchain's name.

It was a very good decision, and I hope he doesn't make that kind of attempt again. And I also wish that MZ would be sentenced for the crimes he committed.

[gunhell16]

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

That is what they need to do! do the EXIT, they will never get the trust from the people in cryptocurrency even they get that to legislators!
But i hope and pray that they get nothing and don['t launch the LIBRA project! not a good one to have!

[target]

Okay Libra is going to be dead. No adoption will take place. I would expect price to dip a bit more. All the hard work seem to go to waste.

The SEC may see this a threat from Mark. Facebook does have the right to give the project to someone from other country right?  This would mean that the SEC can't have any participation to regulate Libra anymore when that happen. This is something to consider then when all these are just Internet companies and location can be moved to an isolated region.

[Rodeo02]

Thank the Lord. I've been against this project since the beginning. Because it was obvious that MZ was stealing user data and selling it. I was sure someone like that would tarnish the blockchain's name.

It was a very good decision, and I hope he doesn't make that kind of attempt again. And I also wish that MZ would be sentenced for the crimes he committed.

As i understand they will not leave the project but they are ready to do so if legislators trust not gain.
So there still an option and a chance that it will launch. I hope they will stop that project but we cannot do anything and just wait for the newa if they will launch it or not.

[nightl]

It’s clear that the state - in this case the USA - doesn’t really need a rival, which creates an analogue of dollar, its own currency.
It will be very difficult to agree with all states, but everyone understands, including Mark, that future is with cryptocurrencies and they need to be the first among large companies in this.
It also seems to me that if Libra is launched, it means that in future we will expect the rule of corporations, not of the states.

[brightemo]

Of course thay will halt this project if congress not allow it.

[hornetsnest]

erm no..he will fool all the plebs into thinking it will be independent of facebook while outsourcing it to his minions   Facebook = eVil

[BitHodler]

I'm sure that Libra will end up being launched, the only questions are when will it launch, and in what form will it launch.... it's clear that regulators won't allow them to launch in their current form so they have to make adjustments.

One adjustment I can see them make is that the governments of each country they operate in will be granted a role in the whole network. It will lead to more centralization and governments will retain as much of their control as possible.

I find it quite a bummer how regulators don't let businesses just conduct business.... all we see them do is over regulate everything to a point where you can't even fart without a permit or some sort of a financial license.

[batang_bitcoin]

I thought that they've said "If it will launch too early".
I don't understand the media on what they really are reporting and what's correct with all of these articles. I haven't watched the hearing that's why I'm kind of ignorant with those quotes.

[carlfebz2]

I'm sure that Libra will end up being launched, the only questions are when will it launch, and in what form will it launch.... it's clear that regulators won't allow them to launch in their current form so they have to make adjustments.

One adjustment I can see them make is that the governments of each country they operate in will be granted a role in the whole network. It will lead to more centralization and governments will retain as much of their control as possible.

I find it quite a bummer how regulators don't let businesses just conduct business.... all we see them do is over regulate everything to a point where you can't even fart without a permit or some sort of a financial license.

On my own view it would really be hard for them to launch up specially that the government would be your enemy.This isnt something new for them to neutralize everything where
they do saw that would be a threat to them.We know on how big Facebook is and making their own coin can give out some publicity on the other side which would lead up to decentralized crypto which these fellas doesnt really want to.Its still up to Mark if he would still pursue for this project or not but on the word given it seems they are on the verge of giving up completely.

[Shasha80]

After knowing this news, I became more convinced that Libra would become a dead project, especially since it was clear with Mark Zuckerberg's
statement that if do not get the trust of the US government facebook exit from projects libra. As we know without facebook libra coin it's nothing.
It turns out that with the withdrawal of Paypal, visa and master card from this libra project it's a sign that libra will die before launching. In my
opinion don't need to continue this Libra projects, because there are already many choices for stable coins.

[pamsugas]

I think with many countries rejecting the presence of Libra and Libra partners one by one exiting the Libra will not be launched. it is very unfortunate if the presence of libra is not launched because libra can be a bitcoin advertisement.

[BigBos]

I also suspect this. I think Mark himself would prefer to protect Facebook than against legislators to defend Libra. starting from PayPal and other large companies, and currently, Facebook. I think Facebook will bring very good news by issuing its own cryptocurrency, but because there is so much resistance from various parties, I think this will also be a difficult choice. Facebook is a big company, seeing that they have their own currency that seems to have an effect on the world economy.

[JeffBrad12]

As I said in many threads earlier this is to be expected. What will you do when all the major exchanges are withdrawing themselves from getting involved into this project? definitely quit the project or cancel it. Going against the government is simply too hard and it's about a big company like facebook that has done many mistakes in the past regarding privacy that's like a dead giveaway.
When the major investors are withdrawing there will be a massive withdrawal from minor investors aswell so it's more wise to just cancel the project. why going through all the hassle for just small gain, Libra is just an experimental and FB don't know if they can really make profit out of it. It seems mark zuckerberg himself also just giving up.

[Tylev]

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

Thus is quite interesting, but please, the source will be appreciated.
I am just thinking that if Facebook should opt out, then who are those that will remain in the team? Will they proceed with the project launch?
I guess those questions will get answers by year 2020, because this year itself is almost ending.

Yes, this question is very interesting. If Facebook does not formally have any relation to the Libra coin, then all the same, in fact, nothing will change. Everyone should understand this perfectly. The project Libra must be completely stopped. Zuckerberg’s words that Facebook will not have anything to do with Libra should not be taken seriously. We all understand that in the event of the release of this coin, virtually nothing will change.

[ashmodeus]

really ? did Zuckerboy say like that ? where the source ?
the only what i can find about this news is "Even though the Libra Association is independent and we don’t control it, I want to be clear: Facebook will not be part of launching the libra payments system anywhere in the world until US regulators approve" .
but well, as long Facebook won't touch libra project , it is enough to make libra truly pure not directed by certain parties.