Libra have some problems? | Bitcointalksearch.org

bitgolden

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Quote from: Prompyboo on September 12, 2019, 10:59:57 AM

France promises to block Libra and calls all other European countries to do the same....

What do you think about this news? How this will affect on the market?

Those countries have the right to show their concern if they feel that it will disrupt their rule of governing, the least thing that we need right now is to create what will cause disharmony or give power to a total stranger, the reason why I called Facebook total stranger is because they have not been in politics or government affair for them to want to create Libra coin for purpose of wanting global currency, they should quite limit the use off their coin to their platform, for the people that do make use of the platform to make payment for the services that they do render.

I am waiting for Facebook to actually issue official statement on the issue of France and Europe having issue with their proposed Libra project so that we know where they stand.

bryant.coleman

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Quote from: Prompyboo on September 12, 2019, 10:59:57 AM

France promises to block Libra and calls all other European countries to do the same....
What do you think about this news? How this will affect on the market?

This was very much expected. Libra is essentially a digital version of the United States Dollar. And the problem is that France has only one national currency (the Euro). Allowing Libra would mean allowing the US Dollar along with Euro and I don't think that a lot many of the countries are going to be comfortable with it. Forget France, even Canada is not going to allow Libra.

The only viable option now for Facebook is to create local versions of Libra in regions outside the United States. For example, within the European Union, they can issue a different version of Libra, that is backed up with Euro rather than the US Dollar. Similarly, for China, they can issue a version of Libra that is backed up by assets denominated in the Chinese Yuan.

btc-facebook

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Are you sure about the news? I have never read a story like that, and is the source really valid?
if France and European countries block Libra, of course this will affect Libra to be accepted by other countries,
I do not know clearly what is the reason for France, but if it is not approved and whether libra will greatly affect the development of cryptocurrency in the future.

tranduong123

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Libra has problems with both governments and users. Governments fear Libra is an uncontrollable currency that could hurt the economy.
The problem with users lies in personal information and security, Facebook has had many user information scandals before.

kawetsriyanto

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Since Libra is a coin of a big company [Facebook] that has big power in the world, there must be many parties don't want it to support crypto space. I guess it is related to politics to keep Facebook out from participating in producing cryptocurrency. Every ban seems like a drama, why France calls other European countries to ban it? I think it is strange enough. Huh

Regarding the effect to crypto market, it probably triggers for a temporary decline but I am not really sure it will affect much.

Mysteryla

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Quote from: Prompyboo on September 12, 2019, 10:59:57 AM

France promises to block Libra and calls all other European countries to do the same....

What do you think about this news? How this will affect on the market?

It would have been good if you had included the source of your news. However, it is no longer a news, because it has almost become point of discussions in the crypto space. If France is not accepting Libra, that does not mean they can influence other countries in. Europe to do the same. There are people who are ready to take the risk.

dataispower

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It's only normal for authorities to do everything possible to protect their territory if they think adoption of a new technology for instance will affect them negatively. Libra being a cryptocurrency is not an exception. Nevertheless, Facebook team is doing everything possible to ensure LIBRA becomes a success. I really think right now the chances of LIBRA launching is 50:50 since there are many challenges at hand. Let's hope they pull through with LIBRA since it will help promote crypto even though it's highly centralized.

boltz

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In my opinion , libra came too late to the party so this new regulations that Libra is facing is something normal. Also , if you think Libra will be a huge coin, you don't understand crypto because Libra is suppose to be a mass adoption coin with a stable price so why would you even bother with Libra when you have Bitcoin ?

leatutz

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Quote from: Prompyboo on September 12, 2019, 10:59:57 AM

France promises to block Libra and calls all other European countries to do the same....

What do you think about this news? How this will affect on the market?

You mixed Libra coin with cryptocurrency, there are so many difference. In future cryptocurrency Libra coin has no effect, if all news is correct. For money laundering this decision was taken by France. If more country do same, that's so bad for Libra coin.

el kaka22

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Libra may not even happen anymore. They are getting a lot of regulations on them at USA where they will be based, they are getting France declining people to use it and now they will get some EU countries to stop it with France as well. What are they going to do, hope that Asian and African countries will use it a lot and USA will allow them to operate?

I feel like Libra was a gamble and Facebook rolled the dice but they rolled a 45 and will be out of the game now. It is not easy to make your own money out of thin air and then get all countries to accept it, these are nations that print their own money, they won't let you have your own money as a company that easily, what would happen to world fiat reserves if every big company wanted to create their own currency.

Police Indo

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Perhaps because of the effects of the Libra Association company, which is a concern of the world's central banks because this company is outside the framework of the central bank but is considered to control the circulation of money in the global financial network. this creates a polemic

vanya.pronin.1983

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I believe it would not effect Libra much, because I am still sure that at the end, all governments will approve Libra for global usage. It is just the matter of time and I bet Europe would be among the first to adopt it.

Javi_Anibarro

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Quote from: rahmatullah9305 on September 19, 2019, 11:38:58 AM

This money privatization eventually carries the risk of abuse of dominant position, country risk, and risk for consumers and companies and this really threatens the official currency issued by the French government. Libra poses financial risks and can lead to abuse.

I could not agree more than this, you describe it very well.
Libra aims to be a stable and regulated coin, it eventually carries a huge risk to the country that supports this idea in their country. Let's learn it from Petro, just how bad it will be if some country supports it and then it's used abusively. Zuckerberg has a bad reputation regarding integrity, do not forget that.

rahmatullah9305

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This money privatization eventually carries the risk of abuse of dominant position, country risk, and risk for consumers and companies and this really threatens the official currency issued by the French government. Libra poses financial risks and can lead to abuse.

Bezobraznike

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Quote from: dearbesz1219 on September 19, 2019, 09:07:53 AM

And that is the beginning, Libra hasn´t started and they have problems with US, French, China governments.
Now it doesn´t look as a global payment method, right?
Bitcoin for the win!

I think that this is just the beginning too, soon they will face with more problems. I believe they will have problems with their product itself, not just
with countries and people rejecting it. FOMO about Facebook Libra coins is fading away.
Many people tried to compare Bitcoin with Libra, that is nonsense, this two can`t be compared in anyway. I`m joining you, Bitcoin for the win!

dearbesz1219

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And that is the beginning, Libra hasn´t started and they have problems with US, French, China governments.
Now it doesn´t look as a global payment method, right?
Bitcoin for the win!

taufik123

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Quote from: ezeobulu007 on September 12, 2019, 02:02:46 PM

But France makes use of Facebook and other related Mark's social media, I think this news is fake.

how do you know this news is fake? Have you read the news?
France only uses Facebook's social media and what France is talking about is the Libra cryptocurrency project, which will be launched by Facebook, because it will be a danger and a threat to the "monetary sovereignty" of countries across continents.

https://www.thesun.co.uk/tech/9914118/facebooks-libra-cryptocurrency-france-ban-europe/

CoinEraser

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Germany follows france and wants also to ban Libra. So there are already 2 EU countries that are against Libra. Certainly other EU countries will follow. Currently it doesn't look good for Libra. Roll Eyes

ATSgrowth

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This is the problem when you create a centralized cryptocurrency. They can ban it and imprison the creator for breaking the law.
But if you would like to imprison creator of Bitcoin whom you send? Cheesy

metallica101

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Whatever happens to Libra, the very fact that Facebook is bringing a cryptocurrency will mostly have a positive impact due to increased awareness. Libra is not a real crypto, but a lot of people still don't even know about crypto. What they do know about, however, is Facebook. Using FB to increase awareness of cryptocurrency is good enough. Also, banning anything will only cause people to want it more, so if Libra gets banned, who's to say that people won't simply look up cryptocurencies, figure out Bitcoin, and continue on from there?

Topic: Libra have some problems? (Read 299 times)