Facebook’s Libra | Bitcointalksearch.org

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Quote from: CryptoSpark on September 09, 2019, 03:35:55 AM

Libra is good for the industry....

Fail to see the good to have another bank with it own in house currency pegged to a bunch of fiat currencies.
In Northern Ireland every bank has its own notes, all pegged to the English pound in UK, outside higher exchange fees arise.
Libra is no different to opening a bank account, except there is not physical branch.
Is Zuckerberg god? he can see everyone's transactions and who exactly is checking/verifying his ID on sign up process?
Apple has already hinted they will create own coin

Effects of inflation, purchasing power decreasing, poorer day by day.
If you started with $100 when the Federal Reserve was first created in 1913, it would now be worth $3.87.
1913: $100
1923: $57.89
1933: $76.15
1943: $57.23
1953: $37.08
1963: $32.35
1973: $22.30
1983: $9.94
1993: $6.85
2003: $5.38
2013: $4.25
2019: $3.87

CryptoSpark

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Libra is good for the industry but boring as a project.

There's nothing in the Libra project that I find particularly exciting or new. But it is showing use cases in business and is adding a level of commercial validation, that there are real businesses and uses for crypto outside of a small crypto community. It's in the newspapers, on TV, people are discussing it. That's all great for the industry I feel. I don't see Libra dominating though, hopefully it will help other more interesting projects to flourish.

lucky80

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Quote from: davinchi on August 30, 2019, 04:15:27 AM

Quote from: Cnut237 on August 28, 2019, 03:08:56 AM

The key point for me in the above image is "Facebook in control of users' data, and will sell it".
This is the basis of their business model. They don't just sell our data, they also use it to build increasingly accurate profiles of us in order to predict and influence our future behaviour as well. They already have vast amounts of our data. This coin gives them financial/purchasing data as well. I don't trust FB at all.

Are you sure that it is through the sale of data alone that they do make money, because in my country, we make use of Facebook and Instagram a lot to promote our products to the world out there, and which there is an amount that is being charge for it, for my business, at least I pend $10 everyday to showcase my product to the world which I have also gotten lots of responses that has made me to be able to make my profit and also get the advert money back, and for the past 4 years, I have been advertising of Facebook.

Since I started making use of Facebook business advert, I have spent over $15000, and same as so many people also do in so many countries, and I don’t think that it is as a result of sales of people’s data that they make money.

We don't know it yet if they sell user data directly. That will cross the data privacy terms.

Yes, I am also using facebook ads and millions of user are using facebook ads service. And that is one of their income sources. However, they are using people's data to match your ads setting such as age, location, etc.

Libra oh libra...will see it later. I don't want to speculate too much about it. Just hoping that will be a transparent one.

davinchi

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Quote from: Cnut237 on August 28, 2019, 03:08:56 AM

The key point for me in the above image is "Facebook in control of users' data, and will sell it".
This is the basis of their business model. They don't just sell our data, they also use it to build increasingly accurate profiles of us in order to predict and influence our future behaviour as well. They already have vast amounts of our data. This coin gives them financial/purchasing data as well. I don't trust FB at all.

Are you sure that it is through the sale of data alone that they do make money, because in my country, we make use of Facebook and Instagram a lot to promote our products to the world out there, and which there is an amount that is being charge for it, for my business, at least I pend $10 everyday to showcase my product to the world which I have also gotten lots of responses that has made me to be able to make my profit and also get the advert money back, and for the past 4 years, I have been advertising of Facebook.

Since I started making use of Facebook business advert, I have spent over $15000, and same as so many people also do in so many countries, and I don’t think that it is as a result of sales of people’s data that they make money.

SirLancelot

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Quote from: xmonkeyx on August 27, 2019, 05:36:58 AM

Quote from: bolajiy123 on August 04, 2019, 02:41:51 PM

what do you think about the Facebook’s Libra, could it be the future of altcoin? one thing always amuse me about Facebook's coin till today, there was a time Mark never supported Crypto and now Lauching coin

Libra is not necessarily the future of Altcoin ...
The presence of Libra Facebook is just a new spirit for other coins in market competition and for me, Libra will only be a stable coin.

Libra is a future of its own, they might have a big user database, but that does not mean that there is not going to be another project that has the tendency of making them really not being able to govern the altcoins.

Everyone have their own technology concept and there are definitely going to be project that has that, and moreover, what people are basically interested in right now are coins that can be used as investment, where they can out in their money and then expect some profits in some years into the investment, but seems libra might not be able to provide such opportunity because they are coming into the cryptocurrency market as a stable coin, and we know that stable coin is not usually that useful in that aspect other than being a utility token.

PaoAj

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I don't see Libra being the future of altcoins, it's being discussed and can gain decent coin value but I don't see it topping neither ETH or LTC. I saw from a blockchain news that they're not even concerned about regulatory issues that they may be facing. Now, that's scary and as a possible investor, tables may turn if they continue not to comply to regulations.

domoy77

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Libra's mission is to reinvent money and change the global economy so that people everywhere can live better.
https://coinmarketcap.com/currencies/facebook-libra/

Regarding security, Facebook claims not to mix personal data on Facebook with libra transactions. The user's identity is hidden just like bitcoin. That way, users can trade with a pseudonym and are free from targeting Facebook ads
https://www.google.com/amp/s/www.jawapos.com/oto-dan-tekno/teknologi/25/08/2019/mata-uang-facebook-libra-terancam-batal-diluncurkan/%3famp

Facilitate purchases with Libra coins

Cnut237

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The key point for me in the above image is "Facebook in control of users' data, and will sell it".
This is the basis of their business model. They don't just sell our data, they also use it to build increasingly accurate profiles of us in order to predict and influence our future behaviour as well. They already have vast amounts of our data. This coin gives them financial/purchasing data as well. I don't trust FB at all.

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xmonkeyx

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Quote from: bolajiy123 on August 04, 2019, 02:41:51 PM

what do you think about the Facebook’s Libra, could it be the future of altcoin? one thing always amuse me about Facebook's coin till today, there was a time Mark never supported Crypto and now Lauching coin

Libra is not necessarily the future of Altcoin ...
The presence of Libra Facebook is just a new spirit for other coins in market competition and for me, Libra will only be a stable coin.

EastSound

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Quote from: stokholminfinity on August 26, 2019, 11:03:39 AM

I can not understand what interest in Libra in terms of investment if the price of a coin is fixed? Speculative interest is needed to increase attention to this product.

I agree, Probably the interest would be for companies since it would be just another payment option for goods/services and wouldn't trust my money to Facebook since they had a track record for security breaches. Crypto users arent enthusiastic about Libra because we already knew that it would be using a centralized.

Dewi Aries

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Quote from: bolajiy123 on August 04, 2019, 02:41:51 PM

what do you think about the Facebook’s Libra, could it be the future of altcoin? one thing always amuse me about Facebook's coin till today, there was a time Mark never supported Crypto and now Lauching coin

It is all depends on their developer in future. If really serious, with power of Facebook's influence it can be coin that really success. Especially if it can be used in facebook platform and can pay anything that related in facebook. Maybe in future people will have option to pay any cash in Facebook platform game or maybe pay ads with this coin. WIth everything that Facebook have, will be big fail if they can't make libra success.

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Quote from: microbb8 on August 26, 2019, 09:26:53 AM

I think, although this is not a decentralized coin, it will be popular. Facebook’s Libra will be popular because there is a big company behind this coin. And this attracts investors well. This is a new stage in the evolution of cryptocurrencies.

What kind of person would "invest" in something with nothing to gain and only loses:

handing over all financial data to some company which has been find for data preaches
pay trading fees
lose ~3% of value because of inflation

stokholminfinity

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I can not understand what interest in Libra in terms of investment if the price of a coin is fixed? Speculative interest is needed to increase attention to this product.

microbb8

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I think, although this is not a decentralized coin, it will be popular. Facebook’s Libra will be popular because there is a big company behind this coin. And this attracts investors well. This is a new stage in the evolution of cryptocurrencies.

ophyrim

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We even don't know the decision of US government for Libra. And it seems that the government is not going to be convinced easily.
By the way, Facebook and the partners can start to use it without US government permission.

campusnet

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Quote from: gembira on August 13, 2019, 09:46:45 AM

So many specilation about Libra... But this launch may not happens at all. At leadt at this moment they can't agree with financial regulators.

There's no word yet that they wont able to launch yet they are still make negotiations towards government.Lets see if they would able to make it through or would just remain in thin air.Government doesnt really like for something which can potentially outgame them.FB is a big and powerful company.

the project has been planned carefully. I'm sure the developer won't just be quiet because of this problem. there is a solution for licensing. besides libra is supported by many large companies, they can move places and locations of their offices if possible to get permission.

suzanne5223

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Honestly, what I am waiting for now is 'whether the Libra team will continue the project while many parties reject LIBRA' ,can they continue the project smoothly without any obstacles

The Libra team will definitely have to pause the implementation of the project, solve the issue with those things that seem to be obstacles because the governments believe the project will affect national currencies since the team said they want the coin to be global currency and it was said to be pegged to some national currency.

callyf

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Hello all the facebook coin Libra is not much nice as people think of it in starting promotion was good because of the facebook own currency but not that much good I see libra is.

gembira

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So many specilation about Libra... But this launch may not happens at all. At leadt at this moment they can't agree with financial regulators.

Topic: Facebook’s Libra (Read 4794 times)