Market is Not Ready for Libra

[huu78]

All markets are ready for anything under any circumstances. It depends on their project that has good support from its community what not.
Libra includes a Shade project of Facebook Inc and everyone expects it so it must be a lot of demand if the market remains bad.

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[MiguelCryptoss]

Don't get you mate, because before now there has been projects that came inboard to act as centralized and decentralized platforms, they are clear with their policies and straight forward with their reputation. But what we have seen with Libra is that; they have been untrustworthy with the opportunity given to them as one of the biggest social media on the internet. They have no reputation when it comes to data privacy protection, so, the market is not ready for such shitting project at this time.

[foxincoin]

We see before how facebook is untrustworthy company, we saw before how Violates our privacy, i think this will happen also with the coin, so i think it will not a good choice for us

[X-ray]

Facebook wants Libra to go live as soon as possible because they have fear of missing out in the cryptocurrency race. They want it as early as now, but being under a government that has hot eyes on cryptocurrencies, and Facebook being too popular, they need to pass through regulations, which isn't done yet and with controversies to Facebook's way of handling data and privacy, Libra is having a hard time to go to the market. Anyway, I don't think Libra is semi-centralized. It still seems centralized to me.

How can we call it centralized when it can't even pass the regulation of the US government. In fact Mark already have said some words against Libra that they won't pursue this project, one there's no proper turn over to public. Many of the prospected supporters of Libra were declining their interests for this project due to undergoing circumstances that roll over into speculations right now.

semi-centralized could be the marketing language however only when it is released to the public we can be more sure. However the withdrawal of their investors also become my concern not to mention that those are quite major investors in this case including paypal, visa and mastercards that'd be such a huge downhill in term of financial safety on their side.
In my opinion however, the market is ready for Libra despite all the fuss but it's just the government that's not ready for cryptos.

[gaston castano]

" Still now authorities are not fully ready to welcome and embrace it fully. But they will embrace at the end "

We are the same in this matter. I feel the government should follow the development of technology and use cryptocurrency as a medium of exchange in running a country's economy. perhaps with this the wheels of government will run cleaner, as we know that the authorities are not completely honest with their people.

and for libra I think this idea should be further evaluated before they are released, I strongly disagree with full centralized.

[dothebeats]

The market always adapts no matter what new fad is thrown at it.

Many people believed that centralized coins have no place in a room full of decentralized cryptocurrencies, but XRP showed us that it's possible and they're going strong albeit the criticisms they have received over time. Libra on the other hand, gets the flak and always gets bashed because of the heads responsible for its creation, not actually the coin itself which IMO can contend among the other centralized coins that are in existence today.

If not for Facebook Inc. and Zuckerberg, we might be seeing Libra taking off the charts and being hyped for what its worth.

[akmal1984]

Of course the market is ready for libra. Americans who are not ready for the Libra project. there is a lot of interest in the USA so the Libra project will not have easy steps to surface.What I think is that the USA is afraid that their currencies will be left behind because we all know how big the Facebook community is in the world.

[#Darren]

Why not? We all have seen how big the influence of Libra would be, because even after 2h speech of Zuckerberg, the market has fallen by 20 percent. In my opinion, market is waiting for official Libra announcement to launch the rocket.

[airdnasxela]

It's not that they are not ready for Libra. They can, if they want to. But probably, people doesn't want or don't give much attention towards Libra. Libra didn't get much attention like what people are expecting it can get. And it's not because the market is not yet ready for Libra. Most must've prefer decentralized than centralized.

[Bitlover10]

I don't know why some people don't like libra specially big bitcoin investors. Well i am still learning about this technology and libra could make more awareness about this technology. So it's good for crypto industries. As I saw many cryptocurrency already exist and actively trading over top crypto currency exchanges who don't solve any real problems in crypto world so why not we should encourage libra who have a lot of possibilites. And ofcourse Bitcoin is the king. Noone can ignore it.

[Kambal2000]

For me it is not the market is not ready for Libra, it is Libra who's not ready for the market. For those crypto enthusiast we all know its value and the platform itself and we all know that it is stable coin, we are good for it, but we are not that excited as the price of it will be just like dollar and not as digital currency like Bitcoin.

[pamsugas]

Of course the market is ready for libra. Americans who are not ready for the Libra project. there is a lot of interest in the USA so the Libra project will not have easy steps to surface.What I think is that the USA is afraid that their currencies will be left behind because we all know how big the Facebook community is in the world.

agree with you, if libra is launched it is likely that libra will become a global payment because we know that facebook is a social media giant everyone has facebook meaning that the USD will not be used anymore, this is why America does not agree with libra being launched.

[pixie85]

Unfortunately, Facebook initiated the Libra project. The company was involved in many data and privacy scandals. Consumer’s trust in Facebook is low. Another hurdle for Libra adoption is the public’s misunderstanding. Bitcoin is difficult to understand. Most people don’t have time to dive into its details. Its price fluctuates wildly. They don’t see benefits of cryptocurrencies. Bitcoin has as many critics as believers. The public has not accepted a crypto future. To normal people, Libra is another effort by big corporations to intrude and control their lives.

Is this really a problem?

People don't understand fiat money and use it every day. They don't understand quantitative easing but does that stop fiat in any way?

The Internet also had as many critics as believers.

Somebody has to be the first to pave the way.

[greenclub09]

I don't know why some people don't like libra specially big bitcoin investors. Well i am still learning about this technology and libra could make more awareness about this technology. So it's good for crypto industries. As I saw many cryptocurrency already exist and actively trading over top crypto currency exchanges who don't solve any real problems in crypto world so why not we should encourage libra who have a lot of possibilites. And ofcourse Bitcoin is the king. Noone can ignore it.

You can say libra maybe a good motivation for Crypto Industries but can it be useful in our social life? Nowadays FB has already given us so many ways for payments, and it is getting more convenient than cryptos, moreover, Libra itseft is a stable coin and no one accept to use a currency lying on words of FB since they already have so many bad reputations recently. So a crypto like Libra has no trust from community will surely dead if its own foundations has too many problems.

[NathanJB]

Unfortunately, Facebook initiated the Libra project. The company was involved in many data and privacy scandals. Consumer’s trust in Facebook is low. Another hurdle for Libra adoption is the public’s misunderstanding. Bitcoin is difficult to understand. Most people don’t have time to dive into its details. Its price fluctuates wildly. They don’t see benefits of cryptocurrencies. Bitcoin has as many critics as believers. The public has not accepted a crypto future. To normal people, Libra is another effort by big corporations to intrude and control their lives.

Is this really a problem?

People don't understand fiat money and use it every day. They don't understand quantitative easing but does that stop fiat in any way?

The Internet also had as many critics as believers.

Somebody has to be the first to pave the way.

The market being ready or not is not the issue here. The market is just there. Sell something to the market to test whether your product is acceptable or not. There are so many products and projects that did not make a good outcome in the market. So be it. The good thing there is that they were allowed to enter the market. Let the market players decide. The problem with libra is not the market. It is the government stopping it. If libra is bad enough for being associated with Facebook then let the market decide that by not adopting it. Let the project die naturally just like a lot of crypto projects.

[Pet240]

These who are are fans to decentralization are again Libra coin. Also, those who are fans to centralization are again Libra. So Libra seems to be on the fence, with lesser number of people to defend it, particularly those at the elms of affairs. Although, if Libra should eventually launch, it will get supporters.

[torpedo]

I think the main problem of Libra is the connection with Facebook, which has huge problems with public confidence. In my opinion, the market is ready for Libra, but not ready for a Facebook coin. I hope we see something similar to Libra, but not under the guidance of Mark.

[enhu]

I think the main problem of Libra is the connection with Facebook, which has huge problems with public confidence. In my opinion, the market is ready for Libra, but not ready for a Facebook coin. I hope we see something similar to Libra, but not under the guidance of Mark.

The government is not prepared for libra to once again sign contract to the biggest company who will just ignore them soon when this libra is approved. Facebook will a lot powerful than US government when facebook become bank itself.  There is going to be a fight for it but I think the government itself must also decide to adopt blockchain because China is advancing in this industry.

[dnprock]

I think many people see cryptocurrency purely about narratives. Bitcoin is digital gold. Fiat is government money. I suggest you see currencies from its design. The design is how these currencies will work. We can decide whether they fit our needs. We won't fall into bogus narrative and marketing that people throw around.

Each design comes with tradeoff. You can't get everything you want in one design. I come up with this model to help others understand where the designs fit in.

Fiat <==> Bitcoin
Centralized <==> Decentralized

Centralized <=> Pegged/Centralized Stablecoin (Tether, USDC) <=> Semi-centralized Stablecoin (Libra) <=> Decentralized Stablecoin (Bitflate) <=> Decentralized

Is the market not ready for Libra? Or is Libra not ready for the market?

Libra's main obstacle is regulators. They reflect the public opinion. From engineering and operational, I don't see a big challenge. After 10 years of cryptocurrency development, we have many options to chose. Libra is a digital ledger shared and audited by the Libra Association. It's not difficult to implement. It's probably easier to implement Libra than Bitcoin. Libra is ready to go.

Another criticism is Facebook started Libra. If Libra succeeds, other big companies will try to do their own. I'd be excited to see other big tech companies creating their own cryptocurrency. That's big corporations working for the people.

OP is promoting his own shitcoins. Cant you all see? This is a topic from bitinflate, another shitcoin going down the drain but some noobs attempt to pick it up and try to make money from it. They are using Libra for the SEO that is has gained recently thus trying to market their opinion.

Yes, I'm promoting our coin, Bitflate. It has a 7% inflation rate. Our goal is to create a digital native, decentralized (somewhat) stablecoin. I think Libra and Bitflate are on the same boat. The market has not fully understood the needs for Libra and Bitflate. Bitflate is ahead of Libra. We're live on mainnet now.

[Distinctin]

I don't think that it is all about crypto regulations the government holds Libra to be in the market but because of lack back-up support and a questionable act of the owner bringing Libra as a stable coin. The regulatory board tried to look deeper on and help that this coin couldn't be another tool to compromise the people.

https://hackernoon.com/facebook-and-libra-coin-what-you-need-to-know-bc9296921d8f