An uncertain future of Libra! Is it good for the crypto traders?

[mirrasel]

"What is Libra? A currency, a derivative, a security, a commodity pool or etc.? Lack of clarity in asset class is one of the regulatory challenges to launch this big initiative by Facebook. Cash withdrawal system is also a big challenge! Cell networks, working with retailers and others to sell consumers products can help them in this case" - This analysis is done by Coindesk.   

What's your opinion?

Another thing,

A report by QZ says that, Libra will not launch in 2020, the US election year. https://qz.com/1778527/2020-predictions-for-bitcoin-libra-and-the-digital-yuan/amp/

So, is it good for the crypto traders? What is the future of it? Want to hear from the experts.

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[bassbity]

I think Libra is still polemic until now there is no clarity about its launch so many people continue to talk about Libra because this has arrived in 2020.
In my opinion Libra is still not quite right in its current position because it has to deal with the government so that everything will be difficult if the government does not allow regulation.
I think there is still no impact to the authorities because Libra has not entered the market until now.

[joinfree]

i am not surprised either that the SEC might not allow Libra to launch anytime soon or even ever . I mean come on people, facebook despite its huge technology in the world has one of the weakest security systems and yet we want to see these people launch a cryptocurrency for its community to use? I am in no way supporting this project and i hope the SEC shuts it down for good!

[zhekinsp]

Libra is a stable coin project so for traders its just another one like tether or USDC or any stable coin,if LIbra never reaches the market the traders have nothing to lose they will find other trading pairs.

[boris singer]

if indeed the proposal remains consistent to stay integrated with the Facebook platform, then we only need to continue to monitor their progress. Libra dares to offer something that is very challenging for public space and of course it is very complex. There is no problem about uncertainty because Facebook is a leading company and hasn't even made a public offer that harms anyone.

[shinratensei_]

Libra is not to be the main recognition again for the crypto traders and whole of crypto and it will not give any impact to the crypto ecosystem. People are still focusing on the bitcoin halving event that will be coming from next month.
It's not a big problem if libra will be launched not for this year but it must be the next year. The regulatory problem that already faced by libra is not a big problem as it was running on switzerland.
Don't worry about this and this will not give a serious impact on the crypto trend as the whole of traders have been moving on from libra.

[Sebas.tian]

Libra will be good for cryptocurrency traders because the coins will be stable like tether and others related stable coins in the crypto market. That aside, Libra to me; will likely have an approval from the SEC and other significant agencies because of the foundation it was built or intend to be built. So, traders will still be able to make a living from the said coin.

[bitvalak]

Actually we have to know first the target market of Libra, whether he only provides only for transactions on all social media platforms that he has or developed into a commodity.
If it will be used as a commodity, it means that they have to make improvements again because it is constrained by government regulations that prohibit the circulation of cryptocurrency.
Investors should have understood up to here, because they can already make choices by seeing situations like this that are less favorable.

[qomariah95]

Seeing overall this coin later, of course very good for crypto traders. But right now there is no certainty about the launch of libra, which was originally said to be the launch of mid-2020. So far there has been no certainty regarding this matter, whether the launch is delayed or remains at a specified time. Coupled with the many negative news related to this Libra coin.

[NeuroticFish]

A report by QZ says that, Libra will not launch in 2020, the US election year. https://qz.com/1778527/2020-predictions-for-bitcoin-libra-and-the-digital-yuan/amp/

So, is it good for the crypto traders? What is the future of it?

Libra did something interesting: increased even more the awareness about crypto, increased people's trust in crypto and made the regulators/governments start thinking more seriously about crypto.
The fact it's delayed may be good too: it gives the opportunity to others to also rise. And competition uses to be good. Libra would have had no competition if launched early, giving too much power to FB over people's money and data.
There's obviously a bad side of the delay too: the regulators may slow down again. And the truth is that crypto businesses do need proper regulation, else crypto will always be a pariah.

[Callanta787]

We can't know how good libra will be until after it's fully released and right now things are not looking that good for the project, i think it's a threat for the CB and government that's why companies like PayPal are rejecting libra

[chaoscoinz]

Many people hate Libra because it is a platform created by Mark Zuckerberg and Facebook. I think it is an really bold step to take that could help cryptocurrency become a lot more mainstream.  Many would disagree, but Facebook is a worldwide platform that extends its reach to all corners of the globe. Even if you don't use Facebook, you might have used one of Facebook's apps like Instagram, or whatsapp. If your into VR perhaps you've heard of the Occulus rift, another Facebook product.
   If the Libra platform were to launch successfully I believe adoption of cryptocurrencies would increase dramatically maybe even over night. Congress understands that this could make Facebook way to powerful so it is having a difficult time gaining a green light to go ahead with the launch.

[magneto]

"What is Libra? A currency, a derivative, a security, a commodity pool or etc.? Lack of clarity in asset class is one of the regulatory challenges to launch this big initiative by Facebook. Cash withdrawal system is also a big challenge! Cell networks, working with retailers and others to sell consumers products can help them in this case" - This analysis is done by Coindesk.   

What's your opinion?

Another thing,

A report by QZ says that, Libra will not launch in 2020, the US election year. https://qz.com/1778527/2020-predictions-for-bitcoin-libra-and-the-digital-yuan/amp/

So, is it good for the crypto traders? What is the future of it? Want to hear from the experts.

First of all, don't believe that anyone is an 'expert' here. Everyone just has their own opinions and you just it yourself.

I personally think that whatever the next developments of Libra is it will be quite irrelevant to the wider, decentralized crypto markets. The reason is simple, Libra's fate is kind of already down the drain due to the fact that so many of their partners pulled out and regulators not having the best attitude towards it.

There is also no apparent connection between how Libra can benefit something like BTC. So I suggest that you stop looking so deeply into these irrelevant non-factors when it comes to pricing of BTC and other alts.

[ragavancoin]

Libra launch will be going to postpone again due to USA election in 2020 I think that libra have very big challenges like legal, regulation and more they have must complete before going to launch.

We know the libra coin will be a centralized with stable coin maybe like usdt if some want to know about libra it better to read the wightpaper of Libra to understand.

[btcdie]

Yeah, there are no definite uses, except only for Facebook and only in the form of stable coins. maybe for Libra Coin traders it is very helpful, and I think it is no different from Tether or other stable coins. In usability it is no different from Paypal, but that makes a glance because it was built on Blockchain technology. it might also be helpful in expanding crypto's reach, such as Bitcoin or Alt. There is no definite news about Libra coins, and for those who are familiar with crypto, I think it looks normal.

[btc_angela]

So, is it good for the crypto traders? What is the future of it? Want to hear from the experts.

As far as I know it is a token (correct me If I'm wrong), so it will not be tradeable in any exchange. Nevertheless maybe new people are going to take notice of Libra and might bring fresh blood to the ecosystem if they see some benefits for them. I'm interesting how Libra will compete with big remittance service like WU or MoneyGram. So let's see how it will pan out, if ever they are going to be release this year or next year.

[rdluffy]

I can't understand why people compare libra to all cryptos, the only thing in commom is the fact that is a crypto, but everything else is different
No possibility to trade
Facebook is behind it, so totally centralized
Facebook do a lot of things that this community do not aprove
Libra is struggling to be launched, so it's already in a bad situation

[Eclipse26]

I am not an expert but we will only know the future of Libra holds when it finally got launched to the public. But for now there are mix reaction with Libra. Others are looking forward with it while the others don't. Libra is still having a hard time to be launched since the government of US is still looking at it. Maybe traders are already tired of waiting. But we can expect that Libra might become big since it came from Facebook and a lot we're expecting.

[Ahimoth]

i am not surprised either that the SEC might not allow Libra to launch anytime soon or even ever . I mean come on people, facebook despite its huge technology in the world has one of the weakest security systems and yet we want to see these people launch a cryptocurrency for its community to use? I am in no way supporting this project and i hope the SEC shuts it down for good!

As you mentioned weak security, it might be better for this project back out from their plans. If they were thinking of another plans, there should be a better alternative instead of using facebook. Branding their own name aside from using facebook probably will correct this conflict, between SEC and cryptocurrency.

[killerfrost]

If Libra is launched in 2020, it will have a positive influence on this market because Libra has a huge community and it will help this market get many new investors. And Libra will not compete with any altcoin or bitcoin in this market because Libra is a centralized cryptocurrency and stablecoin. For a fan of this market, I really hope in 2020 Libra can be launched although it is very difficult.