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Author Topic: Would you use FB's Libra?  (Read 1832 times)
oktana
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December 04, 2019, 09:01:21 PM
 #221

I think because libra is a stable coin with a price of $ 1, it cannot be used for trading. Then I include people which is not active
on facebook, then there is no reason for me to use libra coin. In my opinion libra will be very useful for Facebook ads users, they
will be easy to make payments if using libra coin. So libra will be better if used as a digital currency, because the price is stable.
looks flat at first, but will develop into something more interesting.

if finally in one of the premium fb ads it says "buy bitcoin with libra through an exchange in your country" then obviously libra will be traded and its function will indirectly be the same as usdt, I think Mark also does not want to waste this opportunity. I only question how their circulation can develop freely in certain countries, let alone related to payments, this will damage the principles that exist in banks because they have been represented by libra.
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December 04, 2019, 09:18:46 PM
 #222

I think because libra is a stable coin with a price of $ 1, it cannot be used for trading. Then I include people which is not active
on facebook, then there is no reason for me to use libra coin. In my opinion libra will be very useful for Facebook ads users, they
will be easy to make payments if using libra coin. So libra will be better if used as a digital currency, because the price is stable.
looks flat at first, but will develop into something more interesting.

if finally in one of the premium fb ads it says "buy bitcoin with libra through an exchange in your country" then obviously libra will be traded and its function will indirectly be the same as usdt, I think Mark also does not want to waste this opportunity. I only question how their circulation can develop freely in certain countries, let alone related to payments, this will damage the principles that exist in banks because they have been represented by libra.

We all know that Facebook will release a new coin that we called Libra, and they want to create this for improving the community of the cryptocurrency this project will release in 2020. Many people now are trying to support the use of libra, but still, it depends on the market price because people want to have a profitable coin than another altcoin.
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December 04, 2019, 11:55:26 PM
 #223

Quote
stable coin with a price of $ 1, it cannot be used for trading.

Its not fixed to a ratio of Dollar, that would be paypal then really.  Apparently its going to be backed by a basket of currencies and I presume that means it would reflect its global user base not just US dollar.   Maybe they hope to facilitate trade by allowing a more equal quotable price in different nations.   Its got quite a few countries upset somehow even though you could already do this to some extent yourself.   Theres a wider effect to anything Facebook proposes when its got a billion people who might use that new unit of currency their might become as powerful as many banks though not a central bank unless somehow they are to print units themselves in a floating ratio to their stated basket.    Hard to say how it might work out exactly until it happens if its ever allowed to, we dont have capitalism any more so they may not receive a licence to process currency I guess.

I'd use it if its convenient, simple conclusion if its got a purpose.  Dont think I'd be using it for anything big but who cares if they know what I buy anyway.

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December 05, 2019, 03:52:52 AM
 #224

If they are creating their won coin for their payment system for facebook then it means that they will not accept other coins or payment processors for facebook. Or if they will accept other payment processors or bank cards then it will mean that they will choose other payment processors and banks for fiat users and their Libra for crypto users.

I don't think that as per the existing laws, it is possible. They can't force the users to accept one particular mode of payment. That goes against the anti-monopoly regulations. They have to make other options available, else the users can take them to the court. On top of that, Facebook has long term partnerships with many of the payment processors such as PayPal and Visa. So even if Libra comes online (which looks very unlikely as of now), they won't be able to remove the other options.
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December 05, 2019, 04:36:10 AM
 #225

I think because libra is a stable coin with a price of $ 1, it cannot be used for trading. Then I include people which is not active
on facebook, then there is no reason for me to use libra coin. In my opinion libra will be very useful for Facebook ads users, they
will be easy to make payments if using libra coin. So libra will be better if used as a digital currency, because the price is stable.
The price of Libra still not yet revealed though I think it will not become exactly $1 because it's backed up by various assets and the price to dollar may vary aswell and changes everytime and to make it as a payment method for Facebook ads makes sense but to be honest it will add a lot unnecessary complication that shouldn't actually be there in the first place.

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December 05, 2019, 06:40:29 PM
 #226

I think because libra is a stable coin with a price of $ 1, it cannot be used for trading. Then I include people which is not active
on facebook, then there is no reason for me to use libra coin. In my opinion libra will be very useful for Facebook ads users, they
will be easy to make payments if using libra coin. So libra will be better if used as a digital currency, because the price is stable.
The price of Libra still not yet revealed though I think it will not become exactly $1 because it's backed up by various assets and the price to dollar may vary aswell and changes everytime and to make it as a payment method for Facebook ads makes sense but to be honest it will add a lot unnecessary complication that shouldn't actually be there in the first place.
All information on the Libra project to date has remained only in the format of information manipulation and nothing more.  The developers have repeatedly stated that the implementation of the project will be suspended and will continue only if the government of certain countries are loyal to this project.  On this basis, even the price of Libra does not make sense.

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December 05, 2019, 09:22:00 PM
 #227

Nope wont use, anything Zuckerberg's name is tied to.  Security mmm probably not, anonymity mmmm definately not.  If you think they track what people buy now wait til the dude has his own money to toy with.  Seems rediculous in the grand scheme if things, but probably will be successful *face palm
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December 06, 2019, 04:22:40 AM
 #228

We can never really tell at this point.

We haven't seen the full working project as of today, everything is based on the surface so we don't know if people around the world are going to actually used it. So it is still 50/50, and we all know that Facebook doesn't have a good track record as far as data privacy is, remember the Cambridge Analytica debacle?

So its early, we need the product to roll out first and see if there is a demand for it or if people around the globe will actually see, another drawback is that it could be a honey pot for surveillance specially those three letters agencies, if you know what I mean.  Smiley

Here’s something for reference, if not Libra specifically, any payment service provided by Facebook can probably provide the same level of convenience as Apple Pay, if not more. Apple has faced privacy related scandal with Siri as well although probably not as severe as Cambridge analytics.
Apple Pay in Feb has 43% adoption from iPhone users all over, up from 20% September 2018, now I would assume is higher.
Another example is WeChat, with dominance in people’s lives the extra convenience provided is almost guaranteed to be embraced.
I think us in the crypto community and some other folks out there are more concerned about privacy, but the general public almost always chooses convenience over privacy, if proven to be useful with a great UX.
My belief is Libra is coming out one way or another, may or may not continue to use the Libra name, Facebook themselves has definitely predicted this pressure from the government, and they always already have a plan B (and C and D and E) somewhere that we don’t know about, but it’s coming out, and it’s getting adoption.
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December 06, 2019, 10:18:04 AM
 #229

Big noise around Facebook Libra, but I really don't know what we can use Libra for? I don't know where to buy it, is it possible to earn Libra? Many people talk about Libra like it's some big deal for all of us, but nobody knows anything about it. Facebook is a company that works for profit and unlike some crypto services that share profit with users, Facebook keeps all for company.
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December 06, 2019, 11:00:00 AM
 #230

To be honest, I won't.

There might be some plans behind it and I know that there will be a lot of people that would still use it, me? I don't think so. Honestly, maybe that is because I would not be earning anything from it the same as other cryptocurrencies. I am used to volatile and decentralized assets so I guess I would stick to that and not to Libra.

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December 06, 2019, 01:04:14 PM
 #231

To be honest, I won't.

There might be some plans behind it and I know that there will be a lot of people that would still use it, me? I don't think so. Honestly, maybe that is because I would not be earning anything from it the same as other cryptocurrencies. I am used to volatile and decentralized assets so I guess I would stick to that and not to Libra.
I agree with that. I also preferred the cryptocurrencies that are volatile and decentralized because that is where the opportunity is. Libra as a cryptocurrency is not really a cryptocurrency because it is just like a digital dollar and you cannot get anything from having that. It is better to just risk your money into the real ones like bitcoin where you can make at least 10% return in just a month.

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December 06, 2019, 02:02:23 PM
 #232

To be honest, I won't.

There might be some plans behind it and I know that there will be a lot of people that would still use it, me? I don't think so. Honestly, maybe that is because I would not be earning anything from it the same as other cryptocurrencies. I am used to volatile and decentralized assets so I guess I would stick to that and not to Libra.
I agree with that. I also preferred the cryptocurrencies that are volatile and decentralized because that is where the opportunity is. Libra as a cryptocurrency is not really a cryptocurrency because it is just like a digital dollar and you cannot get anything from having that. It is better to just risk your money into the real ones like bitcoin where you can make at least 10% return in just a month.
Although libra is not as volatile and decentralized as the classic crypto currencies on this market but without this benefit, it will have other benefits, cannot just look at its disadvantages and points that are not special in making decisions. With stability as a digital dollar, the level of fluctuation is relatively low, we can invest and hold for long term, little risk and sometimes it's easy to get a little profit from that small fluctuation, accumulation is also a pretty big profit, and remember that facebook and the government have put their hands in libra, their chances of going up are very wide

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December 06, 2019, 04:32:32 PM
 #233

To be honest, I won't.

There might be some plans behind it and I know that there will be a lot of people that would still use it, me? I don't think so. Honestly, maybe that is because I would not be earning anything from it the same as other cryptocurrencies. I am used to volatile and decentralized assets so I guess I would stick to that and not to Libra.

You can't compare a stablecoin such as Libra to decentralized cryptocurrencies such as Bitcoin and Ethereum. Stablecoins are purely created for the purpose of making payments and trading. On the other hand, cryptocurrencies such as Bitcoin and Ethereum are more being used as speculative investment assets. Libra is obviously not suitable for making investments.

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December 06, 2019, 05:42:30 PM
 #234

To be honest, I won't.

There might be some plans behind it and I know that there will be a lot of people that would still use it, me? I don't think so. Honestly, maybe that is because I would not be earning anything from it the same as other cryptocurrencies. I am used to volatile and decentralized assets so I guess I would stick to that and not to Libra.
I agree with that. I also preferred the cryptocurrencies that are volatile and decentralized because that is where the opportunity is. Libra as a cryptocurrency is not really a cryptocurrency because it is just like a digital dollar and you cannot get anything from having that. It is better to just risk your money into the real ones like bitcoin where you can make at least 10% return in just a month.
Although libra is not as volatile and decentralized as the classic crypto currencies on this market but without this benefit, it will have other benefits, cannot just look at its disadvantages and points that are not special in making decisions. With stability as a digital dollar, the level of fluctuation is relatively low, we can invest and hold for long term, little risk and sometimes it's easy to get a little profit from that small fluctuation, accumulation is also a pretty big profit, and remember that facebook and the government have put their hands in libra, their chances of going up are very wide
We can't said libra is not as volatile and decentralized assets because we don't know what will happen with libra when listing to public, become decentralized assets or only investment way without have connecting with crypto world, wait and see is better to know what will happen with Libra coin but I will get chance if Libra listing to public and invest little there.




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December 06, 2019, 07:22:53 PM
 #235

To be honest, I won't.

There might be some plans behind it and I know that there will be a lot of people that would still use it, me? I don't think so. Honestly, maybe that is because I would not be earning anything from it the same as other cryptocurrencies. I am used to volatile and decentralized assets so I guess I would stick to that and not to Libra.
I agree with that. I also preferred the cryptocurrencies that are volatile and decentralized because that is where the opportunity is. Libra as a cryptocurrency is not really a cryptocurrency because it is just like a digital dollar and you cannot get anything from having that. It is better to just risk your money into the real ones like bitcoin where you can make at least 10% return in just a month.
Although libra is not as volatile and decentralized as the classic crypto currencies on this market but without this benefit, it will have other benefits, cannot just look at its disadvantages and points that are not special in making decisions. With stability as a digital dollar, the level of fluctuation is relatively low, we can invest and hold for long term, little risk and sometimes it's easy to get a little profit from that small fluctuation, accumulation is also a pretty big profit, and remember that facebook and the government have put their hands in libra, their chances of going up are very wide

You have no idea how stable or unstable libra is going to be without it actually trading.  I dont care if they peg it to something you still cant make that assumption.  I would assume it will eventually fizzle amongst the traditional crypto "people" but maybe the mainstream normies end up using it.  Blah either way nope no thanks
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December 06, 2019, 07:27:03 PM
 #236

To be honest, I won't.

There might be some plans behind it and I know that there will be a lot of people that would still use it, me? I don't think so. Honestly, maybe that is because I would not be earning anything from it the same as other cryptocurrencies. I am used to volatile and decentralized assets so I guess I would stick to that and not to Libra.
I agree with that. I also preferred the cryptocurrencies that are volatile and decentralized because that is where the opportunity is. Libra as a cryptocurrency is not really a cryptocurrency because it is just like a digital dollar and you cannot get anything from having that.
Creation of libra does not mean anything with bitcoin, it's purpose is to have an efficient use of digital currency. Libra is not designed for investment but rather the effectivity of trading. Maybe most of you thinks that you can't get no profit on Libra, yes, cause it's actually a stable coin that will be used specifically on a particular platform. But the thing is, I am not convinced with Libra and talking about facebook that has an incident of data breaching, although it is backed by big companies(paypal excluded now).



 It is better to just risk your money into the real ones like bitcoin where you can make at least 10% return in just a month.
Talking about stable coins you can't really make a profit out of it. There's a difference between the two, one is for solely for currency and another for investment. You just need to get away with it.

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Innocant
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December 06, 2019, 09:59:03 PM
 #237

For now I did not expect about libra coming but their one always I heard that have some fake libra also that reported. And Ill read also some negative feedback from the people in here that would be affect from libra, Ill dont know it is true or not, But the important thing is need to wait so that we cannot regret in time.

But as your question maybe I shall not use it, Im going to wait and see if this will have some good features in world of crypto.

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December 07, 2019, 02:44:16 AM
 #238

While at this point it should be obvious that the Libra project is never going to be released you are really underestimating the power that Facebook has, I'm pretty sure that the billions of people that are using Facebook every single day will have no problem using the Libra coin and adopting it just because Facebook is behind it, that is precisely the reason why governments refused to support the Libra project because they thought it was a legitimate threat to their power.

If Facebook want to go ahead with the Libra project, then no one can stop them from doing that. But some of the recent statements from Mark Zuckerberg and David Marcus are creating doubt in the minds of those who intended to use this currency. Zuckerberg leaped in to cryptocurrency market without studying the market in detail. He wanted to use the hype surrounding the cryptocurrency to prop up Facebook. But things turned out to be more difficult than what he expected. I have a feeling that right now he is looking for a honorable exit from this project.
Their efforts have been in fact stopped and it was so easy that is laughable, many do not consider the decentralization of bitcoin as essential but if it was not for it then governments could have shutdown bitcoin whenever they want it, decentralization is what it is protecting bitcoin and it is the main weak point of Facebook, it does not matter that it is one of the most powerful companies around the world, all its power is centralized in a few people and they can be easily intimidated or bribed if needed.
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December 07, 2019, 03:46:12 AM
 #239

While at this point it should be obvious that the Libra project is never going to be released you are really underestimating the power that Facebook has, I'm pretty sure that the billions of people that are using Facebook every single day will have no problem using the Libra coin and adopting it just because Facebook is behind it, that is precisely the reason why governments refused to support the Libra project because they thought it was a legitimate threat to their power.

If Facebook want to go ahead with the Libra project, then no one can stop them from doing that. But some of the recent statements from Mark Zuckerberg and David Marcus are creating doubt in the minds of those who intended to use this currency. Zuckerberg leaped in to cryptocurrency market without studying the market in detail. He wanted to use the hype surrounding the cryptocurrency to prop up Facebook. But things turned out to be more difficult than what he expected. I have a feeling that right now he is looking for a honorable exit from this project.
Their efforts have been in fact stopped and it was so easy that is laughable, many do not consider the decentralization of bitcoin as essential but if it was not for it then governments could have shutdown bitcoin whenever they want it, decentralization is what it is protecting bitcoin and it is the main weak point of Facebook, it does not matter that it is one of the most powerful companies around the world, all its power is centralized in a few people and they can be easily intimidated or bribed if needed.
Did you trusted with Libra coin become profitable after launching to public? will available Libra get legal access from United State where hate with crypto world and have negative side with Libra, maybe we only wait and see at the next year what happen with Libra coin become profitable and keep launching to public or not before investing with Libra coin.




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Sithara007
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December 07, 2019, 03:48:31 AM
 #240

We can't said libra is not as volatile and decentralized assets because we don't know what will happen with libra when listing to public, become decentralized assets or only investment way without have connecting with crypto world, wait and see is better to know what will happen with Libra coin but I will get chance if Libra listing to public and invest little there.

As of now it looks like the plans for Libra have been put on cold storage by Mark Zuckerberg and David Marcus. During his last press meeting, Zuckerberg was saying that he'll go ahead with Libra only of he is given the necessary permission by all the regulatory authorities within the United States. From his body language, it looked as if he was hoping that the Americans would delay giving the permits. He is looking for a way out of this, but his ego doesn't permit him to admit the truth. This is what happens when someone bite off more than he can chew.
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