Topic: Facebook Cryptocurrency - page 5. (Read 10289 times)

I share your thoughts. I've been against Libra since the beginning. Or rather, I am against and reacted to the Facebook company. Facebook's use of users ' data for the United States elections was grossly inaccurate.

I personally closed my facebook account after this incident. And I suggest everyone shut down their facebook account. Because our personal data is sold by facebook to third party companies. I'm sure Libra will do the same.

Libra is supposed to be a stable coin, is it not?  If that's true, there is no real benefit in owning it for the sake of just owning it.  This would be akin to keeping your money in a savings account that doesn't bear interest.  There might be demand for Libra if it gets past the regulatory hurdles, but if its pegged to a fiat currency like the USD you aren't going to make a profit.  I don't see the point of all this great anticipation.

I don't know what TON is, but Libra won't be anything even remotely close to what bitcoin represents.  The only thing I can see that it has going for it is the facebook branding which will doubtless attract a lot of Libra users.  That won't necessarily make it a good cryptocurrency. 

I also have serious doubts about Libra even coming to market.  The U.S. regulators are likely to nix it before its even born.

Perhaps the project / coin that Facebook developers want to present will be something magnificent and innovative, but I do not think that it will be cooler and more authoritative than the same bitcoin or the promising TON. Also, before the open access and release of this coin for a long time, a lot can change in the cryptocurrency market.

I don't believe libra coin has any future. recently paypal withdrew from the libra project. mastercard and visa are also considering withdrawing from the project.

These events will have a domino effect and most investors will withdraw from the libra coin. because the libra project offers no new features. frankly, I don't believe Libra can add anything to the blockchain ecosystem. I don't believe that central projects in particular can add anything to the ecosystem. that's because blockchain is specifically designed to bring privacy to transactions. and I don't think Facebook will respect that privacy.

Exactly. Facebook doesn't need to raise money since it's the world's biggest social network platform. There are many people using Facebook, where the company earns money form their data and ads. Being a billion dollar company, gives them an advantage over other established players within the Blockchain industry. They could design a robust Blockchain network that could stand the test of time. Facebook's only concern into launching Libra for the world is the disapproval of worldwide governments and central banks. Considering that these entities are opposing the launch of Libra, it's hard to believe that it'll become a reality by 2020.

Even if Facebook manages to launch Libra somehow, it won't make any difference in our economy whatsoever. After all, Libra will be a stablecoin just like Tether. Cryptocurrencies like Bitcoin and Ethereum will continue to deliver as intended without any interruptions whatsoever. Libra's success or failure won't pose to be a threat to the very existence of cryptocurrencies worldwide. However, the ambitions of launching a global blockchain network by a company shows us how that Blockchain is the way of the future for mainstream finance. Either Facebook launches it own blockchain network, or another company will in the future. As long as the new global blockchain network gathers the approval of governments worldwide, it'll successfully launch without any interruptions whatsoever. Just my opinion

Curious that there is a great war around the coin which is still a project, not a real token. However, I suspect it will be released, and the hype will only help Libra to become a popular coin and the one, which will be in demand soon after its release. I think that the governments of the countries that boycott Facebook cryptocurrency will also change their strategy for the softer one.

Why is it that many in this forum saying that FB coin will pose a threat to btc and other altcoins?? It is actually a catalyst for people to engage in investing in cryptocurrency. Why? Facebook is catering billions of people in its platform. And by that, as we all know right now, social media is the best way to spread controversy, news and other trends in the society. It's time for the world to know.

I just included at the very beginning that this coin will not pose a threat since this is a stable coin in which the price will not grow.

In fact, they recently declared that the whole point of cryptocurrency is to be decentralized and independent, with complete anonymity of each owner.  But today, due to very frequent conversations about the legalization of cryptocurrencies, cryptocurrency users need to forget about anonymity.  But with regard to independence, it just should not be to the detriment of cryptocurrency users.  I am a very ardent supporter of ethereum and believe that such a system may be the most beneficial for the user.  I have my secret key to MEW and no name binding.  At the same time, I myself am responsible for safety.

Yes, the Libra coin is promising, but it is very difficult to say exactly how the market will react, my opinion is that Libra will not appear soon due to pressure from the authorities

If Facebook decided to implement the Libra project as a service that combines all the capabilities of a payment system, with which users can use various services on the network, as well as buy and sell goods, then in this case no one would impede the development of such a project.  But the fact that Libra intends to become an independent system in general, which is controlled only by the Facebook administration, it is clear that this situation will keep very many, and especially the governments of many states, in suspense.  I understand that in many respects we blame governments and do not trust our government, but nevertheless there are certain laws in countries where governments cannot ignore certain rules.  When the government controls the money of its citizens, there are certain reasons for this and the relevant laws.  But when the money will be concentrated only on Facebook, and if problems arise, then whom will we blame and where to look for justice?  The recent buzz due to the leak of personal data of users of social networks has not yet subsided.  If there are problems with this, then how can money be safe?  I think that in this situation, not only governments, but also many people are wary of the Libra project.

No need to worry about the presence of Facebook coins in this industry.
we will say (welcome facebook), if they really release soon in this industry.
with respect to facebook coins this will not affect the value of bitcoin and altcoin, but I think the existence of facebook coins will compete with other stable coins like USDT.

From what I have heard is that Libra is going to be a stable coin so people won’t be able to make profits from trading unless doing the currency trading thing. Let’s see what happens with the addition of such a significant asset to the crypto market.

Do you think most people that have a profile on Facebook will invest? I have a feeling they are going to make their user experience really easy for people to invest almost as easy it is to donate to charity or buy a eventpass ticket

I agree, there's no telling what this Facebook coin will yield in the current market. Speculations
at an early angle seems to direct that it's not gonna do well at all. But it's not a harmful venture
to invest in them lightly from a different point of view I guess, Facebook can actually pull off
all the campaign stuff and advertising since it's a big social media platform with a massive
global following. We'll see when it launches in 2020. There's a good and bad standpoint on how
things will look and play out once Libra hits the market. I must admit I am bluntly tempted to
invest on this, but too much speculation seems unlikely.

By doing this, you really make the right decision. No one in the world of blockchain and crypto wants to invest in Libra coins. Because Libra really shit a coin. The project does not have any plus features, but rather too many minus features. It is centralized, not focused on privacy, it is not clear how much the supply is.
If this project was created by another person, not by Facebook, it would probably be considered scam by everyone.

Facebook's Cryptocurrency is no good because it is just another illusion by the people who want to take control of something or in short, centralization. Facebook just want to use the word cryptocurrency but the reality is they are not a cryptocurrency, they are just the digital fiat currency because they have a stable coin and one of the characteristic of a cryptocurrency is volatile and not stable.

There has been an announcement that facebook would be launching its own coin come 2020, and everyone is literally anticipating its launch. Judging by their whitepaper, I personally think it would be a great project, and would most definitely get the support that it needs from the general public. I guess just like myself, so many others cannot wait to see how things unfold.

yes they dont need it as i read in thier whitepaper they have already strong partners that want to fund the idea to start this project .

I don't think they will have to go through IEO since they have enough money as capital for this project.
We are talking of facebook here which is a billion dollar company and they are not launching a typical coin which we can invest like ETH and BTC, its a stable coin that they are in control of it,.. and that's the thing everyone should know, stable coin is different from BTC so they will not be mislead with facebook announcement about Libra.

Of course that is good news for everyone, the hope of seeing prices get better in 2020 is quite large. I'm sure of that, but it's still just speculation. Anyone is free to argue, but we will see how prices will improve.
halving bitcoin that will come in my opinion will be a stumbling block for rising prices of bitcoin and other altcoins.