Would You Trust Libra Coin With Your Money?

[Amel]

I would trust Libra coin with my money. Because Facebook is trying to get regulatory approval and legal clearances before starting it up. So I am sure my money is not going to go anywhere!

I wouldn't trust Libra coin with my financial privacy. Because Facebook is trying to get regulatory approval and legal clearances before starting it up. So I am sure that my entire financial information with Libra will be shared to the regulatory bodies and enforcement agencies.

I hope you are getting my point!

Such projects have made fun of cryptocurrency. They are just destroying the principles of satoshi nakamoto. We really don't need such cryptocurrency that are backed by single authority. They jumped into crypto market to get there share. If we think Libra is fine as crypto currency then we don't need bitcoin and other decentralized cryptos.

Actually, centralization and decentralization are able to work side by side, we don't need to debate both, just determine which one is more suitable for us. Fiat is a central currency that has authority, as well as other digital currencies (non crypto).

What makes it different from libra is that it runs on a blockchain which is called crypto, this is just a different technology from non-crypto digital currencies. If libra comes with the concept of centralization does not mean it will destroy bitcoin because in my opinion, the two can still develop side by side. Libra will always be stable but bitcoin will look special with its volatility.

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[DU18]

Maybe for now I believe in other stable altcoins like usdt but for libra itself we can't predict it precisely because libra coin is not officially launched at this time, so it is very difficult for us to trust or even reject it. but I think all of that will be answered by itself later when the Libra Coin has been officially launched by the Facebook platform, because we don't know whether the Libra Coin will make the world of Cryptocurrency better or not, so, we just wait for the Libra Coin to be launched.

[Fappanu]

Libra is trustworthy and we know our money is safe here but why should we invest our money in it?

Especially do we know that these are stable coins that only use like PayPal? And from what I've read in the articles the transaction here is reversible.

[Arkann]

Maybe for now I believe in other stable altcoins like usdt but for libra itself we can't predict it precisely because libra coin is not officially launched at this time, so it is very difficult for us to trust or even reject it. but I think all of that will be answered by itself later when the Libra Coin has been officially launched by the Facebook platform, because we don't know whether the Libra Coin will make the world of Cryptocurrency better or not, so, we just wait for the Libra Coin to be launched.

I believe that any cryptocurrency is much more reliable for investing our money than Libra.  For me, the argument when there are specific warnings and prohibitions for this coin by the states is very significant.  Of course, a lot of negative statements also sound at Bitcoin, but if you turn your attention to Bitcoin, then this coin does not meet only resistance from the government, as much as the Facebook project does.  In any case, I will not risk my money because of Libra.

[Zionatin]

I don't trust them. You have to sometimes give your KYC to them on your fb account. I don't agree with this at all. I don't like how they restrict the content of your pages then if you want to unrestrict it and gain the exposure you must pay. They can just make endless money for as long as fb exists. Based on these things I would never invest in fb. I just don't trust them and also because of the principle.

Libra is trustworthy and we know our money is safe here but why should we invest our money in it?

Especially do we know that these are stable coins that only use like PayPal? And from what I've read in the articles the transaction here is reversible.

In that regard yes your money is safe. I still don't trust them though. Yes, PayPal is reversible. It's a big problem.

[jazmuzika217]

Honestly? No. I will not trust libra to my money investment. If I will invest my money I will invest in a good and most trusted coin which is bitcoin. All we know that libra also have a great featured and uses but I think it's existence and experienced is not enough to give my trust specially that libra already faced so many issue from the past months.

[bitvalak]

If it is generalized in general I would trust Libra because of security, then the issue of legality. With the strength of the Facebook Company, which is one of the biggest in the world, of course, will not commit the folly of deceiving investors with Libra, it is clear they have legal documents where they can account for the projects they make. You can hate Libra, but you cannot block the trust of Facebook users with the presence of Libra. Almost everyone uses the Facebook platform. All altcoin campaigns use facebook to share their project news long ago.

[fuer44]

we'll see, after launching whether libra can really be a stable coin or will continue to follow the current crypto market in general. if it managed to become a stable coin and according to the aim of the Facebook CEO who said that libra was created as a substitute for the dollar in the digital world, I think it's worthy of trust.

[jcarlo]

If Libra Coin has been regulated by regulators, I think many people will believe in Libra coin and maybe speculate with it. Libra coin will probably grow rapidly because with the support of Facebook, people will be easy to trade quickly and cheaply

[Rick-C-137]

I have already trashed libra on this thread already but my conscious has been bothering me. Even though i dislike facebook and libra. I will... if the opportunity presented itself for it to be profitable. I will be taking that opportunity. No matter your feelings about an asset you owe it to yourself and family to be loyal to your portfolio.

[Vishnu.Reang]

Well.. it depends a lot on the listing price and other technical details. If a majority of the analysts believe that the listing is overpriced, then the response from the investors may be dull. Also, it needs to be seen whether the investors outside the United States will be able to purchase Libra in a legal manner. But all these factors are secondary. Libra needs to get clearance from the US regulators first.

[spadormie]

I will probably trust my money with Libra coin. It's just the trust that uphelds it. I trust the company behind it thus will trust my money on their coin. In terms of investment part, I'll just use their own currency as safe haven of my coins. It's probably a great alternative to USDT as it had a problem with its own.

[letyouearn]

Facebook looks very strong and stable and so Libra may be quite stable and secure, in my opinion. But I would wait for some mass adoption before investing here, all this situation with regulators looks too risky now.

[TastyChillySauce00]

Facebook is a big company so why you shouldn't trust them? In crypto we know, that private keys are important, but you have to look at Libra project as a centralized project - smotehing like a bank. And this bank will manage your finances.

Big company doesn't mean they won't do any harm to you. Facebook has known to violate their users' privacy and so many people are doubting this company and now they are trying to expand their reach into financial technology. Some people might see no problem entrusting their money to Facebook because they are a "Big company" in their mind but people who always get updated with the company's news know well that they are fishy but it's all up to everyone whether to trust them or not because it's their money.

[itos84]

Facebook  is a really big company so yes. Still I will wait a little more to see if facebook incorporates Libra inside it's apps: Facebook, Whatsapp, Instagram. That could provide real value and utility across platforms.

[BlackFor3st]

Digital currency Libra needs the global reach of Facebook to thrive, but its opposition is also driven by the social network. Controversy reigns as regulators assemble

By June 2019, there were more than 2,400 cryptocurrencies in circulation, with occasional daily launches. Most of them were almost useless, virtually no one knew of them, and they would never be. So when another –called Libra –was announced on June 18 in a white paper, you might have expected that it would not attract more attention than any of the others.

Yet Libra has received a huge amount of attention from the moment of its launch. The project made many of the same promises for most new digital currencies to venture: it would work more efficiently than existing payment technologies, avoiding the enormous spikes and falling in value that made Bitcoin, the first and best-known cryptocurrency, such a roulette wheel. More eye-catching was his pledge to reach billions of unbanked people around the world–people with little or no exposure to the global financial system–to open up vast new business and work opportunities for at least some of the world’s poor and revolutionize the global financial system.

One of the biggest supporters was the main reason people heard this time: Twitter. Freshly emerging from a seemingly endless series of data privacy controversies, the social media giant now emerged as the lead partner in a plan to create a new global currency alongside a consortium of other major tech, finance, and business firms, and vowed to carry it out in early 2020.

Clearly, Libra was attacked from all sides in the weeks and months following its launch. Cryptocurrency fans said that Libra was not a true cryptocurrency because it violates some of the basic principles advocated by the sometimes techno-anarchic fan base in the community–including the important distinction that Libra transactions still depend on confidence rather than mathematical proof.

Others attacked Libra as an accumulation of corporate power. Economists cautioned that it might challenge the influence of countries over their own monetary policy, thus undermining democracy. And lawmakers and regulators around the world came together to say they would launch investigations or take action against the fledgling currency before it even started.

Read more DoggBitCoin.Com

If I can get something in return of trusting Libra with my money then I am willing to trust them but if in case I cannot get anything from Libra coin then I will not bother myself in learning about Libra. It's a matter of return of investment, if I cannot get an ROI of my hard earned money then I rather switch to other coins that has a high risk with a high ROI also.

But right now, there is a very less chance that Libra can still launch successfully as most of it's partners are exiting the Libra project.

[barabarian1]

yes I will trust the libra project because libra is made by a large company it is impossible libra will run our money. I will buy some coins. but I will wait until the coins have actually been received by the congress and the United States government and have entered into an exchange. we know that currently libra still faces licensing issues. and there has been no official announcement on the exchange where libra will be released.

[Itsmylife]

When you invest in an ICO's project, you always want to see the real product, achivement they can get, this thing ensures the value of the project. So why Facebook creates Libra Coin, we don't trust? Real company, real product, clearly information, and professional team would increase your trust in the project.

[LMBDA]

I can't even trust facebook with my conversations, so why would I? hahaha

[gospelzm]

Since the beginning of the rumors that Facebook will launch the Libra project, I felt something negative about this project, and now it is proven that Libra project has been abandoned by many big investors such as Mastercard and others because there have been many contradictions from top US officials and other influential people.

How can you possibly be in crypto thinking like that? Crypto is supposed to make us free from banks and centralized finance management. Transparency and regard to privacy is the key to success and that's why we tell to the banks 'Go to hell!"