Libra/Diem is dead?

[fintechgeek]

Hi everyone,

Looks like Facebook's final attempt (Diem) at creating a new stable currency unit will never see the light of day. There is another LIBRA (freeport dot nu) that looks much more disruptive than what FB had in mind.

System spec seems pretty deep and I didn't understand all of it, but they provide simulations of their system and they look pretty convincing. Could anyone with a finance/crypto background weigh in on this?

[1714550703]

1714550703

[1714550703]

1714550703

[1714550703]

1714550703

[1714550703]

1714550703

[Kavelj22]

Looks like Facebook's final attempt (Diem) at creating a new stable currency unit will never see the light of day. There is another LIBRA (freeport dot nu) that looks much more disruptive than what FB had in mind.

Yes it's almost dead.
Seems like facebook (actual Meta) realised that the project won't get a success after so many partners left the project. Diem was another initiative derivative from Libra which becomes the brand name of the company who should create/maintain the token.
Actually, users hope that Diem will be the token used in metaverse recently announced by the company, but this is just in their hopes as no one can confirm this yet.

[shinratensei_]

Looks like Facebook's final attempt (Diem) at creating a new stable currency unit will never see the light of day. There is another LIBRA (freeport dot nu) that looks much more disruptive than what FB had in mind.

.
Confirmed by facebook itself https://decrypt.co/91523/facebook-meta-libra-diem-stablecoin-is-dead

I never heard another libra existed but for me, that's a scam. It sounds very suspicious to me. If that's more disruptive and then people should have known about that but i rarely heard people talked about that Do i miss something here?

System spec seems pretty deep and I didn't understand all of it, but they provide simulations of their system and they look pretty convincing. Could anyone with a finance/crypto background weigh in on this?

.Is this another libra issued by another company other than facebook? facebook shifted to the metaverse after facebook was seeing a chance with it. I never heard the libra that you have talked above.

[Yogee]

...

I never heard another libra existed but for me, that's a scam. It sounds very suspicious to me. If that's more disruptive and then people should have known about that but i rarely heard people talked about that Do i miss something here?

I think fintechgeek is trying to advertise this new Libra using the already dead FB coin.

[jossiel]

Yes likely, they've put the intellectual rights of it on sale.

Facebook reportedly ditches Diem stablecoin with asset sale

It has to get its return from selling it and whoever takes it should have to continue its development. I don't think that there's a need to worry about this project is on sale.

IIRC, FB is doing something bigger such as a payment method in Brazil. I forgot the details about that one which is like pilot testing that they've started only there.

[makishart]

Hi everyone,

Looks like Facebook's final attempt (Diem) at creating a new stable currency unit will never see the light of day. There is another LIBRA (freeport dot nu) that looks much more disruptive than what FB had in mind.

It's dead and that's why meta has been moving to the metaverse but it doesn't mean if meta is stopping its step in the crypto. Im sure that another plant already created by meta to create another new stable token in the future. Diem was not even born but it goes to the hell right now. I will never take any fake libra because that will always related to the scam project.

System spec seems pretty deep and I didn't understand all of it, but they provide simulations of their system and they look pretty convincing. Could anyone with a finance/crypto background weigh in on this?

It doesn't sound a legit project. Why is it using the same name as diem (previously libra)? is not it to taking the hype from libra and diem? I will ignore this one.

[Argoo]

Yes likely, they've put the intellectual rights of it on sale.

Facebook reportedly ditches Diem stablecoin with asset sale

It has to get its return from selling it and whoever takes it should have to continue its development. I don't think that there's a need to worry about this project is on sale.

IIRC, FB is doing something bigger such as a payment method in Brazil. I forgot the details about that one which is like pilot testing that they've started only there.

Already, various sources have reported that Zuckerberg sold his rights to Diem's intellectual property and other assets to Silvergate Capital Corporation for a total of $182 million. Therefore, it is hardly worth considering the Diem stablecoin project dead. It looks like he will soon be reanimated and begin a second life. True, this time he will definitely have nothing to do with Facebook.

[btcltcdigger]

Unless FB's new attempt to join metaverse world doesn't revive it, i guess it's dead.
TBH they should build something new, because the old one has 2 much baggage

[michellee]

I hope the coin is dead by now

I do not like FB joining in the crypto world and creating their own token because that can give them the power to control people on their site and everything will use their token to transact. People will be forced to buy their token if they want to get benefits from their site and if they do not want to use it, those people will get a warning from FB. It is better to search for the other project that will be better because we do not want to see them control how people use their tokens.

[jrrsparkles]

Hi everyone,

Looks like Facebook's final attempt (Diem) at creating a new stable currency unit will never see the light of day. There is another LIBRA (freeport dot nu) that looks much more disruptive than what FB had in mind.

System spec seems pretty deep and I didn't understand all of it, but they provide simulations of their system and they look pretty convincing. Could anyone with a finance/crypto background weigh in on this?

Still Facebook is waiting for the regulation body to approve their project all over the world and they can survive no matter what because of their network effect in this internet world but the question is will they ever launch their project?

Because governments are creating their own stable centralized cryptocurrencies so they may not allow private companies to do the same.

[bittick]

facebook is planningnfor the new world and it seems like this already abandoned and that s why you will be rarely seeing it that facebook talked about this again andn there s new latest news about this as well. meta is also thinking about the possible replacement for diem silently without try to sell others. remember that if meta is always giving a surprise. we kay ser that again soon. i hope that this will come true

[DeathAngel]

I’m glad to be honest, Zuck’s cuck buck had to ask for permission, he didn’t get it & it failed. Bitcoin doesn’t have to ask anybody for permission, nation states can only ban themselves from it. Bitcoin can’t be stopped, indestructible digital property.

[Jaered]

That your new Libra seems to want to piggyback on the popularity of the Facebook Libra project. I dont like projects like that that try to pull that kind of stunt. It shows lack of imagination. What kind of message are they going to show the new investors

[iv4n]

I dont like projects like that that try to pull that kind of stunt.

I think you hit the point with this one! Mark wanted a huge bite, to have it all... and that stunt can't even start for years! I mean, it's how long we read news about libra/diem, but nothing ever happens! So I guess this project was dead from the beginning, with the first obstacles!
For sure Mark will do something in the next few years... at least he has money to spare on his silly projects and crazy imagination! Maybe he can surprise everyone with something, or there's always a chance he to repeat his failures and start some new shit all over again!

[glendall]

LIBRA/ DIEM is a dead project, where mark changed the project to meta , for whatever reason they didn't continue the development of LIBRA/ DIEM, so suddenly launched a meta project, ( became my unanswered question because of my disinterest in this coin and the meta project in base)

[Silver80]

Hi everyone,

Looks like Facebook's final attempt (Diem) at creating a new stable currency unit will never see the light of day. There is another LIBRA (freeport dot nu) that looks much more disruptive than what FB had in mind.

System spec seems pretty deep and I didn't understand all of it, but they provide simulations of their system and they look pretty convincing. Could anyone with a finance/crypto background weigh in on this?

The unique thing is that Mark doesn't want to stop there, his project is almost dead, we'll see he's still talking about the project, Libra is having problems with his spending. Now "diem" is experiencing a slump, I don't know when the projects will be successful.

[zonefloor]

When libra was first released, it had been a huge supporter of many brands and facebook. But it was again Facebook that first drew its support from it. Frankly, I do not take a very moderate view of the projects that facebook and mark enter. Because his ideas in the field of crypto money can change instantly and he can impose advertising bans even on his own platform. That's why these two projects ended before they even started, in my opinion.

[Maslate]

Hi everyone,

Looks like Facebook's final attempt (Diem) at creating a new stable currency unit will never see the light of day. There is another LIBRA (freeport dot nu) that looks much more disruptive than what FB had in mind.

System spec seems pretty deep and I didn't understand all of it, but they provide simulations of their system and they look pretty convincing. Could anyone with a finance/crypto background weigh in on this?

Well, I'd never think that it existed in the market. In fact, Libra before has become dead right after the creation and I thought it was the same with this Diem project?

Anyways, there are some reasons why they are dead already,
*support from the investors
*use-case of the project

I don't find their importance in the market and that definitely it will just be ignored by the investors.

[bhooscream]

I never heard any update related to Diem progress, so it means a lot that this coin is possibly dead. Zuckerberg only focuses to build his future with Meta project and may forget about Diem. Or Diem project is suspended temporarily and he may consider continuing it if it is necessary for Meta project. I personally still cannot conclude whether it is already dead or not.

[Rengga Jati]

Libra/Diem is dead?

Yes, it is over, the dream of Zuckerberg to launch their cryptocurrency (DIEM) is over.
After going through various processes for a long time, even having time to go down and up again, this plan is finally coming to an end.
Not only because of the regulation but it is also complicated from the start.  

https://www.theverge.com/2022/1/31/22911426/meta-diem-cryptocurrency-confirms-sale
https://edition.cnn.com/2022/02/01/tech/facebook-diem-association-dissolving/index.html