Topic: How can people use facebook libra coin? - page 2. (Read 543 times)

Few takeaways below from recent hearing - https://www.youtube.com/watch?v=B1a5h5KncNM

- Fair warning its was long process and covered a range of items but I mainly followed it for the block chain portions.
- Was informational at times as well as comedic at other times. Seems over half representatives on the committee asking questions regarding block chain dont even understand the basic concepts and still think Facebook has direct control once it gets fully launched.
- Seems many still have an axe to grind with Facebook as a social media company.
- Calibra was referred to as a subsidiary of Facebook and non-profit entity. Initial governance would be put in place by Facebook and the project affiliates (large affiliates in the news are backing out and I believe are removing the target from their back as the regulators try to navigate a space that is very foreign to them). If it did ever get going it sounded to be a self-reliance entity.
- Libra is the proposed token and would consist of a basket of global currencies. Pegged and supposedly backed by various currencies.
- Zuck asked for regulation and wanted to comply with any and approval from all government financial entities to move forward with the project. Voices concern if US doesn't innovate someone else (China) will. Well hate to break it to everyone but seems some stable coins already do this (yes stable coin projects dont have the same user base so the target automatically goes to the largest entity with largest user base).
- Guess imagine Zuck can cut the tie anytime he wants and say Facebook and Calibra are two separate entities and go deal with them directly on these matters, we can expose our user base to it but once they are their we have not ties.

To answer the OP question:
- Tend to believe that this wold be another on-ramp tool for the general public that has large user base but the average person would possibly just use their native currency when it comes to day to day use.
- Timeline? Anybodys guess and does it really matter if its a centralized stable coin claiming to be of a block chain foundation?
- Overtake BTC? The general public is only in the infancy stages of beginning to understanding the block chain space and blinded to current global hegemony system that surrounds us. Reserve currency status does not last forever and block chain provides what I consider a small insurance policy that may or may not be paid out in my lifetime.

I have never heard the latest Facebook Coins news and I don't know when libra can be publicly available. it's just that at that time I heard that several major partners canceled agreements with the Libra project such as the Paypal company. but the important point in your question is that I don't believe if libra will take over bitcoin, bitcoin will always dominate the cryuptoqurrency market.

People really still use facebook and majority of people even dont worried about it.
Of course they are happy about libra

Libra will not replace the king of this cryptocurrency. Libra only gets support and is more popular because it is under the auspices of Facebook Inc.
If you want to replace Bitcoin there must be a new innovation to replace the old innovations. In relation to Libra, he said stable coin will likely not replace it could rival the price of Bitcoin.

The last time I heard, Zuckerberg was giving indications that he may put the Libra project in the freezer. A number of the partners have pulled out of the project, including industry giants such as Visa, Mastercard, PayPal and Stripe. Twitter recently rejected a request from Facebook to join the project. And on top of all this, the US senators are not happy with the project as evident from their arguments during the last senate hearing.

Personally, I think that the only thing I will ever need Facebook Libra coin for is just my business deal with them which I don't think that I have ever had issue with payment on their business advertisement platform which will warrant me to actually get to use their coin, but besides that too, I really do not think that there is any need for Facebook payment system and all the plans that they have for the unbanked because it is when people complain that you come up with a solution, but Facebook is trying to come up with a solution that has no problem.

The reason why bitcoin will always remain bitcoin and acceptable I because of the decentralized technology of it, and if not for that purpose too, bitcoin may not have been accepted as much as it is now, so I really do not see much usefulness of Facebook coin since it is not decentralized which makes it impossible for it to even make list of top 10 not to talk of making number 1 list.

The only specialty here is the facebook founder

The libra is a stable coin so we can't use it as a longterm hold. This is just like any other stable coin that has retained its value. And finally Libra was created to accelerate the trasaction of 1,000 per second. Slightly bit Bitcoin at 700 per second. But we cannot deny that Libra has a lot of competitors in the crypto currency.

Worst thing, are they still going to launch it, knowing that a lot of negative feedback already with their coins, who will invest to it if that is only stable coins. Many people nowadays are creating groups in facebook and doing hype with regards to Libra, they are manipulating the minds of those who don't have knowledge in crypto, they are promising that Libra will be Bitcoin someday. Poor people, hope they will do more research.

Libra is a stable coin created by facebook. In fact, it has achieved deal with large corporations, but a few of them have recently abandoned it. Its creation by Facebook is a news that affects the majority and can help mass adoption.

I think it is unlikely that it will surpass BTC, but I believe it will be in the top 20. Indeed, if we know the total supply and price, we already know where it will be.

To send money across the world within seconds. Basically the same that you already can achieve with a lot of decentralised and centralised altcoins. The difference is that a big company stands behind Libra which would attract new users.

We should trust the Libra Projeck more than the Projeck, which until now continues to fund, but in fact the Projeck scam. I am pretty sure that the team and also Libra's partner are big companies and they also invest in these funds so there is no doubt about the Libra project

I don't think all of us know how to use Libra because the points just haven't been launched yet and it's not yet clear what date. Not to mention the negative issues that befell Libra yesterday, so it seems too fast to discuss the function and how to use it. But certainly certainly as a means of payment. You can read their Whitepaper on the web.

I think that when (and if) the Libra project succeeds in entering the market, then we will not have to think about how to use it. Facebook will come up with everything for us Surely there will be some functions and opportunities that can be accessed only using Libra.
And, no, I don’t think Libra will become No. 1. But in the leading positions it may appear.

no one can be sure when Libra will launch, the last news I heard around Q1 2020, but whether it will launch or not, because BTC there is bad news will fall deeper, if this happens then the whole market will panic and there will be many investors who step down from the market.

I think they will use the libra for their features on facebook first before expanding to worldwide.
They will have a payment for their facebook ads and other features that available on facebook

Knowing how many partners have backed out of the project, it’s difficult to guess what the use case of Libra really will be. It was planned to be like USDT, as a stablecurrency though it seems that this idea will never come into fruition and materialization. Mark and Facebook Inc. would need a lot of work before getting Libra live, else it’s just another failed project lost in a sea of projects long dead and gone.

At the moment, the Libra project is in danger of failure, because Facebook has faced many legal problems. But if the coin goes into production, it will be a landmark for the Facebook Corporation. Given the multi-million-strong audience of this site, I think most users will use Libra for payments inside Facebook. Does this mean that Libra will be cooler than Bitcoin? I do not think so. Undoubtedly, Mark Zuckerberg's project will be successful, but Bitcoin has historically developed popularity and the highest capitalization among cryptocurrencies.

Let's assumed here that eventually Facebook's Libra can make it to the market and be operational by middle of 2020. How people can use the Libra coin then? First and foremost, I am sure that all of Facebook and its affiliated social media sites will be using the coin in all business transactions though I am sure not if this can be exclusively used or just a part of the choices available. Aside from its network which already counts billions of potential users, Libra coin can be used well by crypto traders just like what other stablecoins are playing. One big area that Libra can exploit is the huge global remittance business and certainly because it is tied to Facebook there is no need to do a huge marketing activities for Libra towards getting the chunk of the remittance market.



I don't see it that way. Libra and Bitcoin can be complimenting each other and not killing the other one. This is a stablecoin project and so far the relationship between Bitcoin and all other stablecoins is quite harmonious and peacefully coexisting. In fact, stablecoins can be boosting Bitcoin in many ways. Hopefully, it can be the same between Bitcoin and Libra.


I am urging you to visit the site of Libra and seek more information about the coin itself. Maybe you can also have a copy of its WhitePaper where details of Libra and surrounding it can be found and read as well as analyzed.

Libra Coin has not yet been launched because it is constrained by regulations. Even if it has rolled on the market, I don't think Libra Coin will shift Bitcoin's position as king in the cryptocurrency market. It takes a long time for Libra Coin to gain investor confidence even though Libra Coin is supported by Facebook as the largest social media

What is this thread all about? Where were you these past several days, weeks, and months? Were you in your hole hibernating? I mean, this issue was already explosive for weeks and even before that when the project started to hit the news. Have you not read a single news about it, or at least a thread here?

Libra is not available at all and it may not be made available in the next year. They are still under investigation. A lot of lobbying and negotiations are still happening until now. It will not be number 1 because Bitcoin will always be holding that number and because it is not the cryptocurrency that people want.