Facebook Libra finally launching?

[icekohl]

I have not seen many major media outlets officially reporting this. If it is for real, it will be a huge trigger for the upcoming bull run of the crypto market.

[pankowri]

https://cointelegraph.com/news/facebook-s-libra-to-reportedly-launch-in-january-2021-as-usd-stablecoin

"Following more than a year of scrutiny from global financial regulators, Libra will launch in a form of a United States dollar-backed digital currency, the Financial Times reported on Nov. 27"

It was very impressive to hear the news almost one year ago. It finally will launch in January as the article says. By the way, it is likely that it will push the cryptocurrency even one step more to think for them who still have the doubt about its existence. Libra will be blessings for total crypto industry as I believe.

[disconnectme]

I have a feeling this Facebook project is going to fail, who wants his money to be suspended because of one regulation or not. People yearning for projects like Libra are those that are looking for ways to control the Crypto-market, I just hope exchanges won't jump on this are start listing it for their users

[republicrypto]

https://cointelegraph.com/news/facebook-s-libra-to-reportedly-launch-in-january-2021-as-usd-stablecoin

"Following more than a year of scrutiny from global financial regulators, Libra will launch in a form of a United States dollar-backed digital currency, the Financial Times reported on Nov. 27"

seems we will see a huge pump in 2021 because of this news, one by one a huge company joined this crypto world
thats mean this is the right time to collect more good altcoins project
regards

[SaShiRaJaVu]

The fact that Libra will be launched will be a significant event that will be even more important for the promotion of cryptocurrency in everyday use than the ability to pay for goods with cryptocurrency to PayPal customers. Obviously, you will need to pass verification in order to use Libra for payment.

We will see more centralized cryptocurrency in the coming years and Facebook Libra is just a start and you need to verify your identity to use their wallet and that will be the benchmark they are going to keep and everyone has the option to avoid those. In the grand scheme of things when these centralized cryptocurrencies show their true color they will shift to decentralized currency.

[dhemasm]

"Limited Format" Looks like it will be launched but with limited purpose i suppose? The FT web need an subscribing fee so i can't read it about the report but according to Cointelegraph article it's still on Licensing Process (https://www.finma.ch/en/news/2020/04/20200416-mm-libra/) and i think it's still not sure if that will 100% launched on January 2021, From my perspective looks like Libra take an chance since Biden Cabinet have an positive view to Cryptocurrency and last Paypal integration on Bitcoin so it have an strong sign to be launched for that but still it's not 100% accurate, Well let's see what will happen later.

[tycsols]

https://cointelegraph.com/news/facebook-s-libra-to-reportedly-launch-in-january-2021-as-usd-stablecoin

"Following more than a year of scrutiny from global financial regulators, Libra will launch in a form of a United States dollar-backed digital currency, the Financial Times reported on Nov. 27"

It was announced to be a stablecoin from day one but only question was how open and decentralized it would be, but with regulatory pressures and delays it seems like it will be just like ysing bank account or paypal because all user and transaction data will be available to US authorities.

[Husires]

How will Facebook issue a currency without getting approval from the Federal Reserve? facebook met with strong opposition and some considered them a threat to privacy, I do not think that a bill will succeed. This money did not reconcile the situation and bring in sufficient means.

If the news is true, people will start adopting bitcoin demand

[pedrillo0]

https://cointelegraph.com/news/facebook-s-libra-to-reportedly-launch-in-january-2021-as-usd-stablecoin

"Following more than a year of scrutiny from global financial regulators, Libra will launch in a form of a United States dollar-backed digital currency, the Financial Times reported on Nov. 27"

Apparently the founder of facebook wants to take advantage of the good market we have.

The news is a trend in all social networks: https://cincodias.elpais.com/cincodias/2020/11/27/mercados/1606488929_192485.html

Libra is like the cryptocurrency that social media needs.

It will be the main driver of all cryptocurrencies ...

[MiningBattalion]

Why don't Facebook apply for traditional banking licences if they want to do traditional banking so much because all libra boils down to is "traditional banking".

They can already add fbcoin wallets to every fb user without needing crypto. Nobody's stopping them.

I don't understand what's their aim.

The facebook is different system, it doesn't need any people support. It was grow with the people support.Fbcoin was published by them and some investment till now.But it was not became a high value coin like bitcoin.

[adzino]

https://cointelegraph.com/news/facebook-s-libra-to-reportedly-launch-in-january-2021-as-usd-stablecoin

"Following more than a year of scrutiny from global financial regulators, Libra will launch in a form of a United States dollar-backed digital currency, the Financial Times reported on Nov. 27"

Wait, the coins by facebook is still being developed? I thought they were facing some regulatory problems and some license issues or something and the project eventually died with the hype. But, good for them if they managed to fix everything.
This is going to be interesting. A stable coin backed by US dollar (which is backed by nothing lol) and being under total control of facebook. At least people won't be using it for invest and more like for using it as a regular currency. But then, aren't we able to do the same with paypal, cashapp and venmo?

[lionheart78]

It makes sense for FB to choose Libra as a stable coin backed by USD because their am is to established a payment service.  At least Libra being a stable coin solved the problem of volatility.  I am sure investors won't be a problem since FB being so popular will have large companies behind them supporting the project.

[aundroid]

This is going to be interesting. A stable coin backed by US dollar (which is backed by nothing lol) and being under total control of facebook. At least people won't be using it for invest and more like for using it as a regular currency. But then, aren't we able to do the same with paypal, cashapp and venmo?

sounds legit 
I will definitely pass on this one.
Facebook is generally an awful company, but as long as new people enter the crypto market and pump my bags, I am happy with it.   

[tippytoes]

It makes sense for FB to choose Libra as a stable coin backed by USD because their am is to established a payment service.  At least Libra being a stable coin solved the problem of volatility.  I am sure investors won't be a problem since FB being so popular will have large companies behind them supporting the project.

I really don't think Zuck will really give up easily with his project regarding cryptocurrency. Aiming to be a payment service, you are right that stability is important to its customers especially those that are not really familiar how cryptocurrencies work. As a lot are complaining about volatility, stability is the answer to this. However, for investors that are thinking that Libra coin will be a good investment, now, they will be seeing that this is just another stable coin and will not rise the value just like bitcoin.

[molsewid]

Is this true? Seems new president is likely to support the cryptocurrency ( stable coin).

But we need to wait until they really launch their project because this happens all of a sudden after a long hold.

This is true because the source is Cointelegraph, one of the legit news providers for crypto-currency. Why the president support the Libra? Is there any statement that the president already mentioned supporting crypto-currency? We need to wait for more further news because the exact launch date is still unknown and depends on the Swiss Financial Market Supervisory Authority's approval.

[JeffBrad12]

Why don't Facebook apply for traditional banking licences if they want to do traditional banking so much because all libra boils down to is "traditional banking".

They can already add fbcoin wallets to every fb user without needing crypto. Nobody's stopping them.

I don't understand what's their aim.

The facebook is different system, it doesn't need any people support. It was grow with the people support.Fbcoin was published by them and some investment till now.But it was not became a high value coin like bitcoin.

Libra has been creating to be an alternative payment system. It will be a stable coin backed by fiat currency too. It will never be the same as bitcoin.
It looks like that you didn't yet understand what will be the main purpose from the creation of libra coin. I hope that this will give you a small insight about the purpose of libra coin. It will be very similar as USDT

[fadhilz123]

I'm not interested at all, maybe you must look at this thread PayPal blocked a member's account due to cryptocurrency trading.
Paypal and Facebook are same, they are created as a centralized company and they can control your funds. As I know libra facebook is a stable coin, right?? So what are the benefits?? Better choose USDT or BUSD(Binance stable) rather than Libra

[passwordnow]

Ok then. The US govt has finally found a representative of them in their part for making a cryptocurrency. Other have CBDC, they now have Facebook with Libra.
Not that big news for me that have known that they're going to launch before but just delayed because of the hearings and proceedings. This is good news for whoever likes this stable coin.

[samcrypto]

https://cointelegraph.com/news/facebook-s-libra-to-reportedly-launch-in-january-2021-as-usd-stablecoin

"Following more than a year of scrutiny from global financial regulators, Libra will launch in a form of a United States dollar-backed digital currency, the Financial Times reported on Nov. 27"

Well, Paypal already did adopt Bitcoin and I think its also good for Facebook to adopt instead of pushing Libra in the market because the pressure will still come against them even if the US is already support this program. Anyway, this is still a good news to see some light on Libra project and I hope they finally succeed on this battle and make the Libra token out in the market, let’s wait for more updates regarding this one.

[mersal]

https://cointelegraph.com/news/facebook-s-libra-to-reportedly-launch-in-january-2021-as-usd-stablecoin

"Following more than a year of scrutiny from global financial regulators, Libra will launch in a form of a United States dollar-backed digital currency, the Financial Times reported on Nov. 27"

I am really surprised with this news because I thought the libra project already dropped by the Facebook. But the original idea of the project was the token value will be based on fiat value of each respective countries, am I right?

So Biden's government is actually helping the adoption of cryptocurrencies more or they just want to cut down the privacy?