Topic: Libra Just Got Its First Major Supporter in Congress (Read 498 times)
In the Cryptocurrency world, we tend to hype every little thing and blow it out if proportions, while it is a good trait that keeps us as enthusiasts and the whole cryptocurrency sphere going, sometimes it's good to call a spade a spade, The US Congress has 535 voting members, 435 representatives and 100 senators, so just one out of 535 members isn't really much to be excited about, ofcourse there would always be redicals and evidently this happens to be one of them, let's wait and see what the future holds though.
https://www.facebook.com/aljazeera/videos/1350766745108537/
Finally, Mark Zuckerberg testifies now before the US House Financial Services Committee.
What can You say about his statements?
Finally, Mark Zuckerberg testifies now before the US House Financial Services Committee.
What can You say about his statements?
Centralized coin will be supported by crooks in fancy suits/clothing.
Libra wont help the crypto-industry, it only promotes centralized coins and encourages banks to do the same.
Libra wont help the crypto-industry, it only promotes centralized coins and encourages banks to do the same.
Alas some of them that has probably cut a deal for themselves to secure thier futures will turn around to support Libra in subsequent hearings. America can't claim oblivious of crypto when they are the second highest ranking on Local bitcoin in terms of bitcoin volume. These power mongers are jealous of the monumental power to be left in Zuckerbergs hands.
The private letter of one senator of the US Congress does not have any significant significance for the further development of the Libra project. But the latest report of the G7 countries and the Bank for International Settlements, which sharply negatively assessed the possible appearance of this coin, actually puts a fat cross on this project. Although before that time it was already obvious that the Libra coin is unlikely to ever appear after its main financial partners left this project.
They should not dip their fingers to this issue and let the SEC has a say on the future of Libra Coin, the best way to ruin a project is when you have politics getting into the scene and hugging the limelight, these are politics they have an interest of their own, US already had an agency that deals with this, if there's an investigation these politics will be bias.
Well, when politicians enter expect more mess but I hope they let Project Libra to have freedom to develop freely than full of restrictions from government. Most big named backers has slowly fading, leaving Project Libra with its original founder. I personally wants project Libra to be develop and thrive and lets see the crypto explosion anywhere.
People might think that they are already lobbying, because we all know Facebook has a lobbying power which they always exercise when faced with a hard issue, I wonder how far their lobbying can go, considering they only have a short period of time to launch their own coin, we expect many more politicians announcing their support.
This wont help them. Big firms are lefting the project
Still they are hoping many will take consideration due to this. I think this news can attract somehow new investors who are avid fan of success of Facebook and stablecoins. Though Libra is facing big rocks since bigger companies are withdrawing their partnership but who knows there will be next to that first known supporter.
Even though many large companies are leaving this project, I think the Libra project will continue. The potential to control money circulation is very beneficial for Facebook and I think Facebook will find a solution to this regulatory deadlock
The Libra game is much bigger than a simple crypto-currency launch.
There are giant amounts of Money, Interests, Politics, and Connections.
While I don't like the centralized coins, I'm happy about the whole media coverage about Libra, as there is no bad advertisement. More and more people are hearing of crypto every day.
This wont help them. Big firms are lefting the project
Still they are hoping many will take consideration due to this. I think this news can attract somehow new investors who are avid fan of success of Facebook and stablecoins. Though Libra is facing big rocks since bigger companies are withdrawing their partnership but who knows there will be next to that first known supporter.
Indeed cryptocurrency technology should help people who have not been touched by the bank because of access. Only with the internet, anyone can do financial transactions easily. The Libra Project does have a good idea because with social media, people can connect and transact very easily, hopefully regulations will not hamper it because if Libra is approved, the cryptocurrency market will be excited
And will also collect our data.
Collected and leaked as happened last time.This wont help them. Big firms are lefting the project
The big ones have left but there's still a quite good number of big company supporters for this project. We don't know if they will leave or announce their departure to the project within a few days. But if there's no announcement, means that they will stay. 
Libra is an alternative to the Fiat system. You could argue that it could be better than the Fiat-System. However there is just one true decentralized currency that you should hold. Libra either succeeds and introduces a billion people to Crypto Or it fails and proves the need for truly decentralised Crypto.
I have the vision that in the future, governments have their currency to play with but the people will keep their wealth in secure currencies that aren't played with. Bitcoin is already changing the way we think about money. For me it's not anymore about how much money did you make with BTC, it turned into how much should I put in Bitcoin in order to protect myself for a financial collapse.
I have the vision that in the future, governments have their currency to play with but the people will keep their wealth in secure currencies that aren't played with. Bitcoin is already changing the way we think about money. For me it's not anymore about how much money did you make with BTC, it turned into how much should I put in Bitcoin in order to protect myself for a financial collapse.
Remember the opening scene in the Godfather part two; the party. When Michael Corleone met the corrupt senator and how the senator spoke praising Michael in the microphone? this feels awfully similar, this senator won't be publicly supporting Libra if he wasn't getting something in return.
This wont help them. Big firms are lefting the project
That's one point for Libra. We need more people in the government who will support crypto or we will be seeing US exchanges closing everytime.
Its very true the pushbacks is really not healthy for innovation when we see this kind of projects are certainly what people need. When we oppose libra development are also blocking the new progress which we look forward to when it comes to adoption.
The Libra game is much bigger than a simple crypto-currency launch.
There are giant amounts of Money, Interests, Politics, and Connections.
While I don't like the centralized coins, I'm happy about the whole media coverage about Libra, as there is no bad advertisement. More and more people are hearing of crypto every day.
Thought Zack and his Libra coin are under pressure from everywhere thanks to his other products breaching the privacy of its users and have support from one congressman does not reflect the views of the majority, maybe the problem with this crypto is because it has a face!
The problem is that if the authorities allow them to start their stable currency then many companies will come up with their version of the coin and that will become another problem for the authorities, it is really interesting to see how the authorities will be dealing with the Libra project and how many countries will be supporting their centralized coin. but don't you think that in order to make Bitcoin global we need some centralized coins??
It is not a bad idea either to have a stable currency, i really do not trust USDT and other stable currencies in the market right now and we need to have a trusted stable coin.
Libra wouldn't get attention from the majority of Crypto enthusiast. Especially for people who don't like Facebook and Centralized crypto. Privacy is the biggest concern and it more enough for them to stay away from Libra. Another problem is, if Libra used as payment gateway on their service such as Whatsapp, FB and Instagram without limitation, I think many countries who don't support crypto would be blocked all of service under Facebook Inc.
They should not dip their fingers to this issue and let the SEC has a say on the future of Libra Coin, the best way to ruin a project is when you have politics getting into the scene and hugging the limelight, these are politics they have an interest of their own, US already had an agency that deals with this, if there's an investigation these politics will be bias.
Well that's a good news for Libra and Mark to have a government support after a lot of companies already pulled out from libra. But as for me, even how many influential supporters would share their thoughts about Libra, if the public and market don't give really much attention to it, it's still somehow worth less.
Let's just see how well Libra will do in the market for the next few years
Let's just see how well Libra will do in the market for the next few years
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