Topic: How can people use facebook libra coin? (Read 574 times)

if based on its function, I have heard that libra coins focus on financial systems such as PAYPAL, VISA, etc. and I think if it is equated with cryptoqurrency it's almost not much different from XRP which is a centralized coin. but that is just my speculation and not necessarily true. In addition, Facebook coins have not yet been released, making it difficult to estimate their true purpose.

Indeed. Libra coin is a centralized and stable coin, so it will be good use for storing your funds when we are experiencing a near market. Stable coins does not have any difference to fiat currency because it is also a good used for making a purchased through online shops.

Apparently the Libra coin will be just a stable coin. And what can we do with stable coins? In general, the same as with ordinary coins.
They can be sent without large fees, as I understand it, it can simply be stored as money. But paramount, is the Facebook policy regarding the Libra project,
it is the transfer of money as a digital asset anywhere in the world. In other words, this is another money only with advanced functionality without the participation
of bank intermediaries that are so fed up with everything. To hell with cans. If you choose between Libra and the bank, I will choose Libra.

Libra coin became silence since last year, when they found out that majority of the community here in the forum aren't support by them.
Even other officials in US are in favor with this plan. But even is like that, they have plan for this for sure, only we just don't know what it is? possible they can continue it or not anymore something like that.

I think it will be a kind of tip, but for Facebook users maybe something like steem or probably it will be evaluated for the number of likes one gets on their posts or pictures.

Libra testnet is testing 100 transactions per second at the moment. Some charts: https://inlibra.info

Facebook has got it user base all around the world. Facebook in the earlier days were used to find our old friends, then it served as a platform to find friends who have similar interests. This way it keep of transforming, and now it has got importance as a platform for marketing. In surveys it is found that facebook marketing ia more effective in making businesses than promotion through other social medias.

People keep on using different payment gateways for the buying and selling through facebook. With libra into usage each and every transaction will happen through libra. This provides much large scale circulation to libra, but the same will not make bitcoin go down to it.

Lol, why do ask about Libra, a currency that has not yet been released? From the way I see it if Libra was successful it might beat or be on the same level with Ethereum and Bitcoin. Facebook has a huge population on Instagram and its main Facebook platform, imagine that they released that currency, I know for sure that at first it would be linked to all these platforms as a wallet at and lots of users will adopt it and they will gain lots of investors. Even though some members of the association have withdrawn, once it's successful they are likely to start fighting for a position in it.

The government doesn't like it, maybe because they think it's not going to benefit them, and they know for sure that Facebook will pull this out successfully. So they want it. For now, I will say that Bitcoin is leading. Although, why like bitcoin is because it is decentralized and there is no one in charge.

Libra coin will be released next year of 2020, i also heard that it will be centralized, so it will be just like USDT that it will be a stable coin, and it will only be good to store your funds when we are facing a bear market and for online transactions, that is why it doesn't have any difference between fiat currency because it's just like it but in digital currency.

Yes , not enough to over take buy having thier platform that can use that coins is big help from them . For example payment and recieving payment is now much easier you can use that coins to buy ads or earn from ads other use of that coin might follow like you can use it also to all of thier partner as a payment.

There is no release date for Libra, I'm not even sure if they are still going to release Libra because they are having some problems with the government. If it happens to be a success I believe that by the time is gets released Facebook will communicate to us on how we will be able to make use of it, but it wouldn't be anything different from other cryptocurrencies, and it's going to be backed by assets (a stable coin).

I also believe that they will have the wallet separate but your account will be linked to a Facebook account, that's the Central unit that is in charge. It was said it would be released in 2020, that's next year, for now the date has been cancelled till further notice.

Libra is not created to overtake bitcoins but for competing in remittance services. A stable coin from a famous brand is the only reason, libra is getting too much of limelight. It will serve like how paypal is existing and nothing more in my predictions. Slowly libra users will start adopting bitcoins after realizing its potential. Yes, all developments will lead to adopting the versatile one.

It could affect the market but I don't think that it will put a dent on bitcoin per se.

The US SEC is thinking putting Libra as a security token if I remember it correctly. And it deemed as such, then it will have to undergo and pass the test before it can be given a good signal to go live next year.

As far as the used, it is going to be used in online transactions, so probably Facebook wanted to join the remittance services and compete against Western Union and Money gram here and not a direct competition to BTC.

As far as i know libra launch was been hold by SEC because they don't like the way that libra is about to be a stable coin and might probably to lessen the fluctuations in the market. So i think that Libra needs to change some of its plan or its use to be approve by the regulations. Libra will be just another cryptocurrency in the US and on Facebook? It is not enough to overtake bitcoin.

Libra is Facebooks answer to mass cryptocurrency adoption, and is pegged to be a bold step for a centralized mass use of crypto. Libra the cryptocurrency by thebsamebname as its platform is a form of stable coin that is backed by low volatility assets.
  Libra will probably be Intergrating with Facebookband and it's partnerships like Instagram, oculus rift, and WhatsApp.
  

I do not think Libra will be No1, only his presence can raise people's interest in crypto, how could he beat BTC.
The presence of Libra also in believing can give a positive effect on the crypto market, people will use it because it is supported by Facebook, so people will believe it because the project is backed up by one of the biggest giants of social media.

Maybe for the initial stage, Libra coin will be used on platforms owned by Facebook. Facebook has many platforms such as whatsapp or messenger so that it will facilitate transactions if Libra coins are regulated. The speed of the transaction and without the need for third parties that might scare the regulator because it would disrupt the dominance of the dollar in international transactions

If Facebook is able to release their coin then there will be many use case and many will be using it to transaction if it gives you a much better solution than the rest of the coins in the market and they might have started this project thinking it could be a revolution but they are faced with regulatory hurdles and it is interesting what they will be doing and will they be able to release as planned or shut the entire project.

The case of the libra is receiving great attention, but significant events against their background go by the wayside. For some reason, many ignore the statements of China on the issue of its crypto coin. British banks also expressed the view that it should be faster to accept digital currencies as a new payment asset

In Switzerland, Facebook has more chances for a libra. A couple of days after they registered the first cryptocurrency banks, which means they are more prepared to establish regulatory rules for blockchain projects, unlike the US, where the struggle between departments continues

in my opinion libra is like crypto in general, it's just that libra is supported by large companies like Facebook, Paypal, etc. if not mistaken libra will be launched in 2020, I don't think libra will outperform bitcoin, and I'm sure people still make bitcoin the main crypto.

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.

There is no further information about the launch date of the Libra coin, here information is only listed in 2020. Some of the news that I read, Libra conceptualizes itself as a stable coin, its use as an alternative payment. Considering that some teams that resign from the libral project, make me doubt that libra will be a big coin.

At this time there is still no full support for Libra coins to be launched, so the release for Libra coins is suspended, precisely still unclear, maybe in Q2 2020, but still vague. Of course Libra cannot replace Bitcoin because exchange rate for Bitcoin is very volatile while Libra coins are more stable because this exchange rate for Libra coins is associated with official currencies such as the United States dollar (US), euro, and yen.
While bitcoin price mechanism is left to market and nobody controls it while Libra is controlled by non-profit institution called the Libra Association.

To be honest the platform of Libra is nice and has a good concept but we can't use it due to many concern regarding its release. Maybe trust issues I guess. I hope moderator clean up this section cause to be honest, everyday there will be new related Libra post made and its all similar topic all over again. Hope this is the last time I will read topic about it.

Lots of government interfering this coin since there's still lots of question about it's existence but like what you have said, with this exposures
it can be one of those alts that will gain attentions from people who are willing to take the risk and invest with this FB created alt project. We
are all hang with the possibilities that it will be available any time soon.

No wonder, this libra coin will hype the market as it will enter the cryptocurrency marketplace. But as of now we must take a little bit of patience, because the government has to deeply dig deeper on their platform before everything will come to a serious consideration. After that, don't expect to much behind it because libra still remains a regular altcoins like ethereum or litecoin.

I think it will be available on a later date since Libra has been facing a lot of issues on different authority especially the SEC. In my opinion Libra will be the one of the top coins that will hype the market like ton of telegram but their launching as you know still pending little bit delay since lots of scrutinize factor need to settle with them.

man i dont even think libra will launch at all at this point
check out the 20 threads made already, its been having some troubles it seems
imo it was just them trying to capitalize on the crypto craze years too late anyways

I've never thought that there will be a coin that can overtake bitcoin. This has been asked for so many times and yet the challenger is yet to come if there will be, I think it will be hard for them to push bitcoin out of its position.
Why you are thinking that Libra can eventually overtake bitcoin? it's too far from the advocacy and usage of what bitcoin is delivering to us although both are used to be a payment medium but Libra is way different from that.

Libra coin is still being hyped, yet I believe the team do not yet know where exactly it is heading to. First, we should see it launch first and that will determine if investors and other users will be interested in using it, because that is one of the major ways in which its value can be well assessed.

At this moment there's nothing information updates from the libra team about their availability in the market, I don't believe libra will overtake the king of crypto even if the devs of that libra coin is popular company I still believe people are know the important of bitcoin as king of crypto. By the way good luck to this project.

At least you must read the latest news about that
https://cointelegraph.com/news/zuckerberg-to-testify-before-congress-regarding-libra-stablecoin
https://cointelegraph.com/news/bank-of-england-governor-carney-defends-facebooks-libra-stablecoin

Not all the countries have declared to reject libra and england is one of the countries who supporting libra. I thought brexit gives a different opinion for this country. Canadian countries are also accepting libra too and it's still on the negotiation.
You can't say if libra already a fail project even zuckerberg still tried to testify the mechanism of the platform.

They have their white paper release already.
https://www.forbes.com/sites/tatianakoffman/2019/06/18/facebooks-libra-white-paper-is-now-live/#34b6b39a6e00

You can also search and download the full whitepaper so you can read the full content if you want to better understand the project.

It will be hard for altcoins to overtake bitcoin and there’s a lot of news that is against libra coin so I don’t think it will become a successful coin on its first year in the market. The rumor says next year will become a big year for Libra coin, but we don’t know if its true or not.

People are like a bunch of sheeps repeating what others are saying just to be part of the herd.... there is so much more to Libra than people think or care about, but because everyone is almost indoctrinated to think against it, they don't see it.

I like the fact that major fiat currencies and financial institutions are now facing a new competitor with the potential to accumulate so much power, that it can make them obsolete in a matter of years.

Isn't that what people support Bitcoin or pretty much any other crypto currency for? I would love to see Libra launch and take over a system that has never really been challenged by anything simply because they didn't had the numbers Facebook has.

Libra is a very promising coin. This project will be able to unite many countries. Now money transfers between States require a large transaction fee but with the introduction of the Libra project, everything can change. When traveling, you can pay with Facebook coins and not exchange your money for national currencies. It is very convenient and I look forward to this project.

well friend, libra has been discussed in a lot of previous threads.
I guess you are too lazy to find it,
but well, what i know so far is "Regulators perceive it as a threat" , no wonder libra is hard to born.
and even libra became to the world, it cannot be compared to btc.
why ?
i dont see anything special from libra , and i guess most people have a same think.

You can't use Libra as of now. Libra is still in development and it's still trying to convince the authorities that it's not a threat to the economy. They need to this this as they want Libra to be a legal bill in most of the market it supports. Anyone claiming to be selling Libra are scams, there are many scams in different forms. You need to be cautious not to fall for them.

We cannot give a proper feedback about the Libra project because its not launched yet, but as per facebook its Globalcoin or Stablecoin . They designed not only to be used by Facebook platform but also for everyone more accessible I don’t think it can compete with Bitcoin because of its characteristics. But because government intervention I’m afraid it will be released early next year as they promised.

I think it is not the right time to discuss the use of Libra coin since there is a rumor saying that Libra coin won't be released. It is better to discuss this once Facebook announces to launch Libra coin in the near future. In my view, we are better to discuss "how possible Libra coin to launch". It should be more interesting and suited to the current issue.   

Like a stablecoin with the addition to being accepted for payments through FB and its affiliates



We don't know. When the regulators give it a green light and for now they are more inclined to giving a permanent red


No. It's not a rival of Bitcoin but other centralized coins like XRP and XLM.

The First version of the launch will be on 2020 but no particular date yet, And on July 15, 2019, Facebook announced that the currency will not launch without further appropriate approvals, That is on Wikipedia and on the recent news on New Europe that Libra loses momentum but hold June 2020 as a launch date so I guess there are no particular dates because Libra is still settling some issues,

And if you think that this will make a number 1 spot in the crypto market I had a doubt that will outmaneuver Bitcoin from that spot.

Same on how we use bitcoin and other currencies.

Probably around Q1/Q2 of 2020

No.

How can be a new project can be par with bitcoin? because it's made by facebook? well that's a valid point but it won't be easy for this new project to take over bitcoin. Many tried to think about kicking bitcoin but no one ever succeed.

I do not think Libra will survive. Before its launch, it is already in trouble waters. It has a long way to come before it competes with any cryptocurrency.

This is the link to their whitepaper https://libra.org/en-US/white-paper/ . You will find all the answers to your questions in their whitepaper.

I don't think they have released a delivery date yet as they have encountered a lot of legal problems and hurdles. However Libra is going to be a centralized stable currency backed by garbage fiat currencie like USD, EUR, GBP, etc. It will surely find its use as it will be integrated within one of the biggest social networks, but I don't think it will affect Bitcoin at all. It does not have the purist characteristics of Bitcoin. It is more similar to money in your bank account than to a currency if you ask me, but I might be biased here..

I want to know about the new coin from the facebook called libra and how will people use libra, and when will libra be available? to use. did you think that libra will overtake bitcoin and other crypto coins and become the number 1 coin in the crypto market?

What you think and share info about libra here.