ok, can anyone tell me:
Do you think a company would be allowed to perform banking activities without a banking license? If it was possible, everyone would do it already. And if a state says "No" Do you think a company can reply "I do what I want". If Facebook is one of the biggest company it doesn't allow it to be above the laws.
I know Walmart filed a patent to create its Walmart coin (link). This company will get the same problems as Facebook.
Topic: Can Libra Disrupt The Financial/Economic System? - page 12. (Read 2005 times)
Libra may be the big influencer in financial market it will be realeased. And due to it USA want ban it. They dont want to loose control on financical flows
Lately, there is a big buzz and fuzz on the introduction of the new cryptocurrency (some called it as fake) called as Libra which is under the leadership and influence of the people behind the Facebook social media conglomerate. What resembled like a circus, politicians and other known personalities expressed apprehension that what Libra can bring will put the global financial and economic system under jeopardy and control of a select few men which I assumed the public don't trust.
But I am wondering...is Libra really that potent that it can disrupt the currency financial system or are these people just imagining things which will never happen anyway? Are we ascribing power and influence on Mark Zuckerberg that can turn out to be a dud later?
It can make solid disruptions to the market as well as to the entire system provided its objectives and plans are successfully translated into reality. The plans are pretty amazing. Libra is going to be a stablecoin so there is no need worrying of its value fluctuating every now and then.
Please note that Libra is not all about Facebook. As I have pointed out in another post, it might have started with Facebook's initiative but it will eventually be controlled by Libra Association which has several members including the giants Visa, Uber, Spotify, Mastercard, Paypal, eBay, and several others. Every member including Facebook will only have a single vote in decision making.
The potential disruption has caused serious panic among the governments that they have initiated efforts to stop its development. This is an obvious sign that they are threatened. Imagine the giant companies of this world coming together as one, using their own cryptocurrency. Mark has even mentioned that he will try convince Google to join them. This is going the shake the world. Well, if they are able to launch.
But I am wondering...is Libra really that potent that it can disrupt the currency financial system or are these people just imagining things which will never happen anyway? Are we ascribing power and influence on Mark Zuckerberg that can turn out to be a dud later?
No, it is not potent to disrupt the currency financial system. It seems to me that libra is like any other company token that is spendable within its community. Meaning, this is not something new. Besides, it is still pegged to fiat currency so what is new there?
[Your point could be the reason why the US government is very hard on Libra coin, they do not want it to launch, that is why they are imposing a lot and asking so much, the government will not let their control compromised and Libra coin is an example that they can stop any threat to their system.
It is not a threat, US government are just worry of the possible money laundering since it is somehow out of their control. Aside from that, the US government is probably worried about possible manipulation that will cost their citizen to lost a lot of money.
There is very less possibility for libra to financially disrupt the financial economic system. This is no different from the regular money, libra is digitized which is the only difference. I consider libra the same way as the mobile wallets serve or the inbuilt wallet services of Marketplaces like Amazon pay.
It will I guess because it will affect the business of the remittance centers, banks, and etch, which are costly and slow in terms of transaction. With Libra, you can send instant money just like sending message from your facebook account, that's what I understand.
Lately, there is a big buzz and fuzz on the introduction of the new cryptocurrency (some called it as fake) called as Libra which is under the leadership and influence of the people behind the Facebook social media conglomerate. What resembled like a circus, politicians and other known personalities expressed apprehension that what Libra can bring will put the global financial and economic system under jeopardy and control of a select few men which I assumed the public don't trust.
But I am wondering...is Libra really that potent that it can disrupt the currency financial system or are these people just imagining things which will never happen anyway? Are we ascribing power and influence on Mark Zuckerberg that can turn out to be a dud later?
All of these are just possibilities we never know how things will turn out but the government of the United States, already stated, that they do not want Libra coin and Facebook comply and concede, so we will never have a chance to see it happen, maybe in the future we really need a big company coming up to join Cryptocurrency and Facebook is such a huge company.
Lately, there is a big buzz and fuzz on the introduction of the new cryptocurrency (some called it as fake) called as Libra which is under the leadership and influence of the people behind the Facebook social media conglomerate. What resembled like a circus, politicians and other known personalities expressed apprehension that what Libra can bring will put the global financial and economic system under jeopardy and control of a select few men which I assumed the public don't trust.
But I am wondering...is Libra really that potent that it can disrupt the currency financial system or are these people just imagining things which will never happen anyway? Are we ascribing power and influence on Mark Zuckerberg that can turn out to be a dud later?
The information has appeared that Libra might be even not released through a lot of difficulties and limitations which are met by the Facebook company. It can turn out that FB will spend billions and lose them. Therefore, the question about Libra release is still opened. Thus, we cannot say if it has some positive or negative effect on the economic system.
I have no say no because Libra is still under the monitoring of the government and they are such complying with the rules enforce to them, they can be bigger than the financial system that the government has build and promoted.
They have a technology that has been designed to actually create a smooth financial system, but the governments would not want to put the entire financial system of the world into the hands and control of a single man, it could really be very dangerous, no one know the people that mark is working with, and if government is to allow the system, it means virtually some secrets of the government financially will be known by Mark and Libra team, except after they build the system, they will hand it over to the government fully, but the question is, which of the government would it be handed over to because the Libra coin is proposed to be a global currency, so this is where the this unity will come from, and this is what will end the reign of this Libra coin. Lately, there is a big buzz and fuzz on the introduction of the new cryptocurrency (some called it as fake) called as Libra which is under the leadership and influence of the people behind the Facebook social media conglomerate. What resembled like a circus, politicians and other known personalities expressed apprehension that what Libra can bring will put the global financial and economic system under jeopardy and control of a select few men which I assumed the public don't trust.
But I am wondering...is Libra really that potent that it can disrupt the currency financial system or are these people just imagining things which will never happen anyway? Are we ascribing power and influence on Mark Zuckerberg that can turn out to be a dud later?
No one knows for sure how Libra is going to impact the world's financial systems but I think if Facebook manages to go through current regulation hurdles they could surely put a dent in our monetary system. Libra might not be able to compete against the more established US dollar or BTC which has more unique and superior features to its name, Libra might find a more conducive environment in emerging economies and developing countries.
Take a country like India for example, it desperately needs a more efficient vehicle to move diaspora remittances — given that nearly 200 million people use WhatsApp (According to the Digital Information Report https://urlzs.com/cPXDY). The Asian country’s market for diaspora remittances is one of the biggest in the world, with the World Bank estimating that about 80 million United States dollars were remitted to the country in 2018 alone. Information on hand paints Libra coin as a viable vehicle that is going to ensure that digital banking services reach the unbanked parts of the world.
I think it would be naive to undervalue the impact and traction that Facebook has in developing and emerging economies, I think Facebook Libra is going to piggyback on this traction. While most first-world markets around the world lean on messaging services like Apple’s iMessage for communication, the high-end smartphones on which such apps run on are priced out of many third world markets. Instead, the more generic apps such as WhatsApp and Facebook Messenger can run on various entry-level smartphones, some of which cost under one hundred dollars and allow for cheap and effective communication.
In most African countries innovative Mobile Network Operators have been coming up with internet connectivity products tailor-made for social media platforms such as WhatsApp and Facebook bundles that offer exclusive access to these platforms at cheaper rates.
There are some countries where people actually believe that Facebook is the internet!
Facebook seems to have been studying towards answering the, how to serve the unbanked world population question, as Libra coin is leaned towards serving the ‘forgotten ones’ — remember when Mark Zuckerberg made a surprise visit to Nairobi to learn about mobile money?
Now with Facebook having announced that to store and exchange Libra, you’ll need to use a “wallet”; a service that will be integrated into existing apps such as WhatsApp, Messenger & Instagram. Adoption and scaling in developing countries is likely to be a breeze as most people are more familiar with how to navigate around these apps.
Just my thoughts
Libra is bullshit and I think is not have good planning at the future, do you know how long Libra have planning for launching their project to the public, but until right now they are still trying for their product.
I have read online that libra may not be launch but i think it is to reduce the effect of libra on the cryptocurrency pricing. From what has happened we now understand that libra is bullish on bitcoin and cryptocurrencies generally. I could have be happy if governments allow libra to be launch as this could have enabled easy adoption of bitcoin.
Libra is bullshit and I think is not have good planning at the future, do you know how long Libra have planning for launching their project to the public, but until right now they are still trying for their product.
I have read online that libra may not be launch but i think it is to reduce the effect of libra on the cryptocurrency pricing. From what has happened we now understand that libra is bullish on bitcoin and cryptocurrencies generally. I could have be happy if governments allow libra to be launch as this could have enabled easy adoption of bitcoin.
It looks like Libra has hit a few snags as I suspected. I will be quite surprised if it actually launches.
"If Bitcoin takes over, we are all in a world of hell!" - https://www.youtube.com/watch?v=gHOAKWzDH-Q
"If Bitcoin takes over, we are all in a world of hell!" - https://www.youtube.com/watch?v=gHOAKWzDH-Q
That's not going to happen now, there is news that they will not push through with the launching of Libra coin because of US government restrictions, and they cannot address so many issues about the status of Libra coin, so, for now, the coin will not going to see the light, maybe in the future when everything eases up.
Lately, there is a big buzz and fuzz on the introduction of the new cryptocurrency (some called it as fake) called as Libra which is under the leadership and influence of the people behind the Facebook social media conglomerate. What resembled like a circus, politicians and other known personalities expressed apprehension that what Libra can bring will put the global financial and economic system under jeopardy and control of a select few men which I assumed the public don't trust.
But I am wondering...is Libra really that potent that it can disrupt the currency financial system or are these people just imagining things which will never happen anyway? Are we ascribing power and influence on Mark Zuckerberg that can turn out to be a dud later?
Lately, there is a big buzz and fuzz on the introduction of the new cryptocurrency (some called it as fake) called as Libra which is under the leadership and influence of the people behind the Facebook social media conglomerate. What resembled like a circus, politicians and other known personalities expressed apprehension that what Libra can bring will put the global financial and economic system under jeopardy and control of a select few men which I assumed the public don't trust.
But I am wondering...is Libra really that potent that it can disrupt the currency financial system or are these people just imagining things which will never happen anyway? Are we ascribing power and influence on Mark Zuckerberg that can turn out to be a dud later?
Facebook has over 2 billion users, and you know that most of these users are active, so if they create such crypto and the awareness gets to millions of people, they will surely accept it because of their business. I think Facebook is trying to create a coin that can be used globally which is why they are proposing to partner with banks, so what will happen to other traditional digital payments, would they not be threatened by the establishment of Facebook Libra coin?
Libra done correctly has potential to make the world love alt currencies. It could bridge technology and generation gaps as the best platform for driving bitcoin mass adoption the world has ever seen. Imagine facebook apps and games paying out rewards in libracoin. With good exchange and retail support that could represent an ideal introduction to crypto, HODLers have been dreaming off since early adoption. It could allow facebook users to easily accumulate and spend digital currency, illustrating advantages crypto enjoys over banks and credit card companies who often utilize obsolete and inferior technology.
I think there is definitely potential in libracoin.
Competition breeds innovation. I would much prefer consumers and crypto end users to determine whether libracoin can occupy a useful niche in the cryptosphere than regulators, experts, analysts, critics or enforcing bodies like the SEC who often push agendas or political narratives rather than facts.
If nothing else, libracoin could force banks and credit card companies to offer better terms, lower APR rates and juicier options through market competition.
I think there is definitely potential in libracoin.
Competition breeds innovation. I would much prefer consumers and crypto end users to determine whether libracoin can occupy a useful niche in the cryptosphere than regulators, experts, analysts, critics or enforcing bodies like the SEC who often push agendas or political narratives rather than facts.
If nothing else, libracoin could force banks and credit card companies to offer better terms, lower APR rates and juicier options through market competition.
But I am wondering...is Libra really that potent that it can disrupt the currency financial system or are these people just imagining things which will never happen anyway? Are we ascribing power and influence on Mark Zuckerberg that can turn out to be a dud later?
This is hype, just hype
It is in fact quite wondrous that people are so inclined to believe in this type of hype. Maybe, because they just want to believe in something? Bitcoin is kinda obsolete already, gold is just retarded, so people want a new kid on the block to refresh their lives. And it is even more fascinating that it has become a subject of discussion in the US Congress. There's something fishy about this coin, something which looks and feels like a con, not a real deal
I think Libra is really strong against the global economy, if seen from the US government's criticism of this coin. If Libra can pass all regulatory challenges to become a new currency then I have no doubt that Libra is capable of having a huge global economic impact.
I don't see Libra will provide anything huge. Maybe new, but definitely not groundbreaking. We've seen similar systems like Libra that is now being used, digital money like Doku or something similar.
Facebook is creating another e-money/e-wallet and not using any existing provider because they want to get something from it. Media is just using this to spin text around saying it's groundbreaking while the system already exists and used. If there is something which can be called disrupting, it's Bitcoin of course.
~snip
But I am wondering...is Libra really that potent that it can disrupt the currency financial system or are these people just imagining things which will never happen anyway? Are we ascribing power and influence on Mark Zuckerberg that can turn out to be a dud later?
But I am wondering...is Libra really that potent that it can disrupt the currency financial system or are these people just imagining things which will never happen anyway? Are we ascribing power and influence on Mark Zuckerberg that can turn out to be a dud later?
I think Libra is really strong against the global economy, if seen from the US government's criticism of this coin. If Libra can pass all regulatory challenges to become a new currency then I have no doubt that Libra is capable of having a huge global economic impact.
Even in my opinion, the US is more afraid of this Libra Currency than decentralized currencies because as we know that Facebook has a very large dominance in economic aspects, well this is the reason. Not only that, the US finance minister also mentioned Libra as a national threat.
No it cant!
They can :
1) take a part of the micro txs market between persons
2) take a part and profit from little purchases online
3) disturb our privacy by stealing more of our data
They can :
1) take a part of the micro txs market between persons
2) take a part and profit from little purchases online
3) disturb our privacy by stealing more of our data
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