Would you use FB's Libra?

[yoseph]

With so many controversies arising from this tech giant's ambitious actions, we never truly asked the most important question.

Would the people actually use Libra should it be approved by the congress?

If most retailers stay on board with Facebook Libra, there is no way I wouldn't use their cryptocurrency to make purchases that I really need online. At the moment not a lot of retailers are accepting bitcoins for payments and because of that global trade is kinda difficult for those of us in Africa and other third world countries.

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[The Sceptical Chymist]

We can never really tell at this point.

Well, the question is one of whether we intend to use Libra IF it gets released, so that can be answered easily enough.

Libra is supposed to be a stablecoin, correct?  I've never once owned any of the other stablecoins as I've never felt the need to.  And I don't have a FB account, so I wouldn't exactly be needing it for FB purchases if that's what it's intended to serve as payment for.  I don't know that to be fact, but I'm assuming there's a good reason why FB wants to create their own currency, right?  And I know they are or used to be teamed up with Zynga for games and whatnot and that some of those games have in-game purchases.

Either way the answer is no, I won't be using or even owning any Libra and that's assuming it even gets launched--which it probably won't.  Stablecoins aren't investments, so I don't even have that incentive to buy it.  As I've said before, it'll be interesting just to see if FB can overcome all this regulatory stuff.

If most retailers stay on board with Facebook Libra, there is no way I wouldn't use their cryptocurrency to make purchases that I really need online.

Interesting point.  If you had bitcoin you couldn't spend, and if more merchants accepted Libra you could exchange your bitcoin for it and you'd basically have a way to spend your bitcoins indirectly.  I hadn't thought of that, but I still wouldn't go that route.  I'm not a big fan of spending bitcoin.

[airdnasxela]

In my point of view, I don't think most Facebook users are well aware of Libra. Us, crypto users, of course knew about it but what about the others? We all know that Facebook is really popular like almost everyone have Facebook account but most people probably don't know what cryptocurrency is, as well as Libra. They are just into social media, entertainment but might not be interested with this kind of things. I know I can't be too sure about this, but I'm just looking at the other side. We're expecting that a lot of people would use Libra since Facebook is a big company, but I think this is just because we're aware of Libra.

[Jating]

I think we should understand what's the target market of Libra.

They've wanted a slice of the huge remittance business. So obviously, those who works abroad to earn money and to be able to send it to their families back home can easily be attracted by FB's Libra here. Take for example India, according to reports, they have remittance close to $80 billion.

So most probably that alone can make Libra tons of money if they garnered India's market for remittance. Specially if is going to be cheap as compare to let's say Western Union (WU) and very quick to send/received. And if that is the case, then I will probably used it regardless of the backlash from US and other countries around the world.

[Dart18]

No worries, it wont even get the slightest chance to be passed.
Not while Trump is around.
We could wait for the end of his term then maybe we might see a shed of light.

I wont use it just like how I dont use Facebook. It is something that would really start a big event that we havent seen at all.
Into what it is? The financial domination. Anything which you have could be taken away from you if you have debts.
Worse than a bank.

[dioanna]

With so many controversies arising from this tech giant's ambitious actions, we never truly asked the most important question.

Would the people actually use Libra should it be approved by the congress?

Facebook has a huge community of users so Yes for sure I am going to use it
I believe that even it is speculated to be a stable coin. We can still have a good profit out of it.

[Colt81]

With so many controversies arising from this tech giant's ambitious actions, we never truly asked the most important question.

Would the people actually use Libra should it be approved by the congress?

Facebook has a huge community of users so Yes for sure I am going to use it
I believe that even it is speculated to be a stable coin. We can still have a good profit out of it.

Facebook is one of the biggest social media sites in the world, but i think i would wait for Facebook's Libra coin to become successful, before i use it because i still have doubts that Libra coin will not be as good than top altcoins such as ETH, XRP, LTC, BNB, BCH and etc, that is why it could be not profitable and good for long term investment because they are having troubles when it comes releasing their coin.

[Clement Kaliyar]

Libra is supposed to be a stablecoin, correct?  I've never once owned any of the other stablecoins as I've never felt the need to.  And I don't have a FB account, so I wouldn't exactly be needing it for FB purchases if that's what it's intended to serve as payment for.  I don't know that to be fact, but I'm assuming there's a good reason why FB wants to create their own currency, right?  And I know they are or used to be teamed up with Zynga for games and whatnot and that some of those games have in-game purchases.

Libra is planned as a stable coin and so is the reason they are facing the regulatory issues as far as i know, i have a doubt if you never used a stable coin before what coin you prefer when you are trading bitcoin, i am using FB but i wont be using it to purchase any in game apps but if it is a good stable coin then i might use while trading.

[X-ray]

People with right mind will definitely not use Libra by any means after they have learned the fact that facebook has violated some of the privacy of their users, It’s just no brainer for some people with logic. However truth to be told, libra is currently having a hard time dealing with to government so I dont think it will be anywhere soon. There already existed  a reliable stablecoin so why want more.

With so many controversies arising from this tech giant's ambitious actions, we never truly asked the most important question.

Would the people actually use Libra should it be approved by the congress?

Facebook has a huge community of users so Yes for sure I am going to use it
I believe that even it is speculated to be a stable coin. We can still have a good profit out of it.

its not a speculation their coin is indeed stablecoin but not purely backed up by reserved funds but instead various assets and NO, stablecoin will not bring profit except for the company itself or if you want to utilize the stability of price.

[el kaka22]

Depends on how we can use it. If we can actually send money from one another using whatsapp or instagram, I would use it. Think about it, right now freelancer workers are getting in bitcoin which is a lot easier than using paypal or anything else in cash form. However if we can do it on whatsapp that would make it even easier. However "using" libra in the way that trading or making money or whatever that is where I draw the line.

I personally wouldn't trade it and I wouldn't want to be a "libra enthusiast" or whatever. Which means I would definitely use it for small and simple payments to each other, so "send and receive" is totally something I would use but "Buy or Sell" is not something I would do. Libra is not the devil like people make it out to be here. It would certainly be MILES better than usdt for example.

[LUCKMCFLY]

~snip~

No doubt there will be many people who will use Libra, and it is not bad, it will help a lot to the adoption of Bitcoin worldwide, many business models will be developed. People when they realize that it can be exchanged for Bitcoin and that its price can be multiplied will not hesitate to acquire it.

There are countries with prohibitions of dollars, euros, among others, here the stablecoin can help open the roads to Bitcoin, because people are much more attracted to a social network than the mandates of a government or banks, where they have not earned Social love

In my case I would not use it, I always use Bitcoin, but it is my way of thinking and using, but I support the demand that can be generated to enter the market, which I see very positive so that the price of Bitcoin continues  in trend bullish.

[darkangel11]

I have no use for a stablecoin. Where I am currently exchanging for fiat is not a taxable event until you withdraw, so you don't have to report all operations between wallets and exchanges. Withdrawing fiat to your account or via an ATM is a taxable event.

For this reason I don't and probably will never need to use a stablecoin.

I have nothing against Libra but it's a centralized stablecoin. I could use it if it would allow me to escape bank surveillance but it doesn't help in this matter so I can as well sell for fiat and at least know that only 1 private company (the bank) has my identity. Sending money from a bank to the exchange and then sharing it with FB would make me much more exposed.

[Mahanton]

With so many controversies arising from this tech giant's ambitious actions, we never truly asked the most important question.

Would the people actually use Libra should it be approved by the congress?

Being approved? There would be still lots of debates and criticism in regards to that and we have seen on how government do really make involvement on this project.

Lets say if this project do successfully able to launch then as a FB user then having this coin would really be useful to those whove been using their service knowing facebook
is the biggest social network we've known so high chances that this would really be used up or would really be considered.

[jets567]

Facebook is on of the most widely used social media platform here in my country so if Libra coin offers a lot of use through their platform aside from remittance then I might try it though I don't plan to invest on any money if ever Libra launch a public token sale because its a stable coin which does not offer good returns in the long run.

[SaShiRaJaVu]

People with right mind will definitely not use Libra by any means after they have learned the fact that facebook has violated some of the privacy of their users, It’s just no brainer for some people with logic. However truth to be told, libra is currently having a hard time dealing with to government so I dont think it will be anywhere soon. There already existed  a reliable stablecoin so why want more.

If Libra can be a trusted stable coin to hold the valuation then there is no doubt people will be using it to hold the valuation rather than trusting coins like USDT which cannot be trusted, majority of the stable coins in the market are not transparent about the amount of currency they hold in banks as security and the reason why everyone is using USDT even with the shady behavior says that none of the other coins cannot be trusted either.

[veleten]

no I would not , even if the coin launches which I have big doubts about
I try not to use Facebook so I see no reason to be using their coin I'm happy with bitcoin and use altcoins occasionally for day day to day transfers when I need speed
and those of you who expect Libra to happen - think twice , they will be facing big obstacles and several companies have already pulled out
Mastercard, Visa, eBay have declared that they do not want to participate
and more and more will drop , untill there will be just Faceboook and a couple more stragglers , haha
this is a stillborn coin without a future

[romero121]

I believe I'll use libra at some point. There is more discussion whether Libra will get launched or not. Without doubt I'll say it'll get launched and it'll get a big response. In such a strong manner I mention it upon the words I heard from one of my friend who did internship with Facebook. On a conversation he elaborated how Facebook work on things, every new feature that gets launched now have been developed at least five years back and there'll be continued study and development. This perfectly gives with a good outcome, that means Facebook could've taken their entry to cryptocurrency and blockchain years back.

[Oceat]

Facebook is on of the most widely used social media platform here in my country so if Libra coin offers a lot of use through their platform aside from remittance then I might try it though I don't plan to invest on any money if ever Libra launch a public token sale because its a stable coin which does not offer good returns in the long run.

Probably the use of it is only for their platform but I still don't know if people would actually use it. I can't tell it right now but I am certain in myself right now that I am not using Libra coin. It's better to use the known resources that I already have than using currency for my purchases online.

[hello_good_sir]

Libra was created for the mainstream audience, as any person who has a comptent understanding of crypto-currencies would really be using Libra to send money to other people, since they would be aware of the other options out there.

With Facebook's userbase though, if Libra ended launching, it would have given them a huge community in the crypto market, and they would be able to reach a lot of people that wouldn't really be able to reached if you where another company.

[tenakha]

With so many controversies arising from this tech giant's ambitious actions, we never truly asked the most important question.

Would the people actually use Libra should it be approved by the congress?

Each project seems to be the best before it is created, but this generally results in a later transformation into shitcoin. Libra has not been created yet and before long the few companies it has contracted broke the deal. Obviously, Libra is far from being shitcoin, but why should I use it without knowing what it is. When the time comes, we can think about it.