Topic: Libra (Facebook coin) - All in one. - page 2. (Read 399 times)
What you can see an American car making money out of thin air is working. As soon as the American company makes the cryptocurrency so immediately the master card and visa give the go-ahead. On this plan, e-bye in general, everything is clear. And they prohibit work with Russia and China because it is a policy.
So many topics regarding this Libra coins, yet these people don't seem to invest in it instead. I think they just want to make noise about this new coin where in fact hasn't been used by most of the crypto users.
I was about to merit this but unfortunately you missed out on the fact that Libra is being launched as a stablecoin.
From Reuters:
While it won't be tied to the value of 1 USD or 1 EUR (as most stablecoins are), it will be tied to the overall value of its assets.
Sorry for mis-reading, I edited OP.From Reuters:
Quote
Like a variety of altcoins known as “stablecoins,” Libra will be backed by a reserve of real-world assets, including bank deposits and short-term government securities. This should make it more stable than other cryptocurrencies.
While it won't be tied to the value of 1 USD or 1 EUR (as most stablecoins are), it will be tied to the overall value of its assets.
In my opinion, despite the fact the Libra is a stable coin, the biggest thing crypto world gets from Libra is from now on, crypto currency has become more popular term for people globally. In some nations, due to intentional distractions and distortions from local governments, crypto currencies called as virtual currencies, that more relating to shady and negative things. Local governements don't want their locals understand rightly about crypto currencies.
With the effects from Facebook and Libra, from now on, more billiions Facebookers understand more what are crypto currencies.
To sum up, there are two main things we get from Libra:
- More exactly understanding on crypto currency term, globally, and the wrong term - virtual currencies - will be eliminated.
- Massively effects on social media platforms.
- Facebook and Libra have run free marketting for the whole crypto currencies.
I recommend all you guys don't hop on Libra instantly when its started, because price will drop (as we always witness) months later, when FOMO effects go away. If you want to buy that coin, you should wait months later, then you will have better price, to buy Libra.
I was about to merit this but unfortunately you missed out on the fact that Libra is being launched as a stablecoin.
From Reuters:
Quote
Like a variety of altcoins known as “stablecoins,” Libra will be backed by a reserve of real-world assets, including bank deposits and short-term government securities. This should make it more stable than other cryptocurrencies.
While it won't be tied to the value of 1 USD or 1 EUR (as most stablecoins are), it will be tied to the overall value of its assets.
< ... >
LOL, bitcoin, itself is a stable coin, if we look at it as purely bitcoin. One bitcoin is only one bitcoin, 10 years ago, for now, and next 100 hundred years. 
Libra, even it plays as Tether, investors of Libra will get kinds of benefits from their Libra they hold. If not, Facebook don't have plan to launch it, because they understand that no one will invest in kind of asset that won't bring them profits.
Regardless of all drama and noises around Libra, we all have benefited from its, so far, right? Bitcoin rose recent weeks. As I wrote in the OP, there are other componential factors on bitcoin growth, but Libra plays important role, obviously. Crypo runs by news, and Libra gives crypto market what it needs and waited for months since the bearish 2018 year. With such positive drama around Facebook and Libra, what will be planned by Twitter, Microsoft, Google and other giants in IT area?
Okay, it seems like you summarized it all in just one paper by now. 
FOMO with Libra? For what purpose?
As you it is a stablecoin. I bet it will be like Tether. 1:1. You invest with it then you get nothing. Just for the purpose of using it.
There will be no increase or decrease in price. So no profits at all. Just the mere buying of the coin and that's it.
So where will be the FOMO there. A lot of fools now are being fooled just because the Facebook name is being used which they think is so trustworthy of all. It will be less privacy just how that social media is.
FOMO with Libra? For what purpose?
As you it is a stablecoin. I bet it will be like Tether. 1:1. You invest with it then you get nothing. Just for the purpose of using it.
There will be no increase or decrease in price. So no profits at all. Just the mere buying of the coin and that's it.
So where will be the FOMO there. A lot of fools now are being fooled just because the Facebook name is being used which they think is so trustworthy of all. It will be less privacy just how that social media is.
Yet another topic. This section has been inundated with this shit coin in the last few days. Quoting other people's posts won't help you win any merit. Your topic will be buried by a ton of others.
Thanks for your suggestion on my topic, dude. Good luck.
There are abundant topics on Libra coin, most of them are low quality. Therefore, today I create my topic, as intention to make it as all-in-one about Libra, that has halted by the US. Congress. In my opinion, such a stable coin like Facebook is obviously not a threat of bitcoin. It is as same as there is no threats from other stable coins, like USDT, USDTC, etc. on bitcoin.
Important!
There are some basics about Libra, that you want to know.
Website: https://libra.org/en-US/
Whitepaper: https://libra.org/en-US/white-paper/
Vision:
News:
https://www.zerohedge.com/news/2019-06-18/maxine-waters-demands-facebook-stop-all-development-libra-crypto-project
Libra hasn't started yet but it looks like the US government wanted to bring it down already. No less than a congressional hearing is being requested here and bring some light about this so called coin. US are really coming down hard in recent days on everything that is related to crypto. But this time, they wanted to shoot it down before it goes on a full blown and un-controllable situation.
https://www.ccn.com/crypto/facebook-cryptocurrency-chief-libra-no-threat-to-bitcoin/2019/06/20/
https://edition.cnn.com/2019/06/18/tech/facebook-libra-cryptocurrency-explainer/index.html
https://www.cnet.com/news/everything-you-need-to-know-about-facebooks-libra-cryptocurrency/
https://www.cnet.com/news/facebook-unveils-its-libra-cryptocurrency-as-politicians-raise-eyebrows/
Facebook urged to pause Libra crypto-currency project
Some valuable ideas from theymos.
Important!
In my opinion, despite the fact the Libra is a stable coin, the biggest thing crypto world gets from Libra is from now on, crypto currency has become more popular term for people globally. In some nations, due to intentional distractions and distortions from local governments, crypto currencies called as virtual currencies, that more relating to shady and negative things. Local governements don't want their locals understand rightly about crypto currencies.
With the effects from Facebook and Libra, from now on, more billiions Facebookers understand more what are crypto currencies.
To sum up, there are two main things we get from Libra:
- More exactly understanding on crypto currency term, globally, and the wrong term - virtual currencies - will be eliminated.
- Massively effects on social media platforms.
- Facebook and Libra have run free marketting for the whole crypto currencies.
With the effects from Facebook and Libra, from now on, more billiions Facebookers understand more what are crypto currencies.
To sum up, there are two main things we get from Libra:
- More exactly understanding on crypto currency term, globally, and the wrong term - virtual currencies - will be eliminated.
- Massively effects on social media platforms.
- Facebook and Libra have run free marketting for the whole crypto currencies.
There are some basics about Libra, that you want to know.
Website: https://libra.org/en-US/
Whitepaper: https://libra.org/en-US/white-paper/
Vision:
News:
Quote
Rep. Patrick McHenry, senior Republican on the House Financial Services Committee, wrote a letter Tuesday to committee Chair Maxine Waters, a Democrat, demanding a hearing on the Facebook cryptocurrency initiative.
Maxine's full statement is below. What is most surprising is that she is, don't shoot us, right.
Facebook has data on billions of people and has repeatedly shown a disregard for the protection and careful use of this data. It has also exposed Americans to malicious and fake accounts from bad actors, including Russian intelligence and transnational traffickers. Facebook has also been fined large sums and remains under a Federal Trade Commission consent order for deceiving consumers and failing to keep consumer data private, and has also been sued by the government for violating fair housing laws on its advertising platform.
“With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users. The cryptocurrency market currently lacks a clear regulatory framework to provide strong protections for investors, consumers, and the economy. Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies. Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action. Facebook executives should also come before the Committee to provide testimony on these issues.”
Maxine's full statement is below. What is most surprising is that she is, don't shoot us, right.
Facebook has data on billions of people and has repeatedly shown a disregard for the protection and careful use of this data. It has also exposed Americans to malicious and fake accounts from bad actors, including Russian intelligence and transnational traffickers. Facebook has also been fined large sums and remains under a Federal Trade Commission consent order for deceiving consumers and failing to keep consumer data private, and has also been sued by the government for violating fair housing laws on its advertising platform.
“With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users. The cryptocurrency market currently lacks a clear regulatory framework to provide strong protections for investors, consumers, and the economy. Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies. Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action. Facebook executives should also come before the Committee to provide testimony on these issues.”
https://www.zerohedge.com/news/2019-06-18/maxine-waters-demands-facebook-stop-all-development-libra-crypto-project
Libra hasn't started yet but it looks like the US government wanted to bring it down already. No less than a congressional hearing is being requested here and bring some light about this so called coin. US are really coming down hard in recent days on everything that is related to crypto. But this time, they wanted to shoot it down before it goes on a full blown and un-controllable situation.
https://edition.cnn.com/2019/06/18/tech/facebook-libra-cryptocurrency-explainer/index.html
https://www.cnet.com/news/everything-you-need-to-know-about-facebooks-libra-cryptocurrency/
https://www.cnet.com/news/facebook-unveils-its-libra-cryptocurrency-as-politicians-raise-eyebrows/
Facebook urged to pause Libra crypto-currency project
Some valuable ideas from theymos.
It seems like it's mainly trying to clone ETH. Maybe aiming for the assets-platform angle more than anything.
If they make a permissionless cryptocurrency similar to Bitcoin, good! Then freedom in the world will be increased. But I really doubt that this is going to happen. Right now their paper reads like a standard scamcoin vaporware paper, and I currently judge there to be approximately 0% chance of them actually allowing anyone to use the system anonymously and freely like you can with real cryptocurrencies.
Uh huh.
Quote
To ensure that Libra is truly open and always operates in the best interest of its users, our ambition is for the Libra network to become permissionless. The challenge is that as of today we do not believe that there is a proven solution that can deliver the scale, stability, and security needed to support billions of people and transactions across the globe through a permissionless network. One of the association’s directives will be to work with the community to research and implement this transition, which will begin within five years of the public launch of the Libra Blockchain and ecosystem.
If they make a permissionless cryptocurrency similar to Bitcoin, good! Then freedom in the world will be increased. But I really doubt that this is going to happen. Right now their paper reads like a standard scamcoin vaporware paper, and I currently judge there to be approximately 0% chance of them actually allowing anyone to use the system anonymously and freely like you can with real cryptocurrencies.
Quote
We anticipate that the ability for developers to create contracts will be opened up over time in order to support the evolution and validation of Move.
Uh huh.
Quote
An additional goal of the association is to develop and promote an open identity standard. We believe that decentralized and portable digital identity is a prerequisite to financial inclusion and competition.
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