Libra Just Got Its First Major Supporter in Congress - page 2.

tenakha

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Quote from: CryptoBry on October 18, 2019, 01:41:54 AM

Well, its good to see that a good senator is bucking the trend. From time to time, it is also nice to hear a different opinion, conviction and conclusion in relation to the launch and subsequent operation of the Libra coin platform which Mark's minions are hoping can be done as soon as possible. Maybe Mark and Marcus can conduct an information and PR campaign to convince more members of Congress and Senate to allow Libra operate maybe provisionally before they make a conclusion that it can severely affect the traditional systems of the land.

Assuming that you are in the big shoes of Mark Zuckerberg, what are the changes you plan to execute with Libra to make it more digestible and palatable with the angry regulators and legislators?

Good support for Libra. But if this support were for the crypto market, not just Libra, it would be more gratifying news. Libra is good for adoption, but it will also be for a while. I do not know, it sounds like a game to me. I think they are making another plan on the sidelines.

Pearls Before Swine

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That senator either has some balls for writing that letter or hasn't been bought off by Visa and Mastercard's and the big banks' lobbyists. I do have a suspicion that the reason why Libra is getting so much grief by the gov't is precisely because of big business's lobbying tactics. Facebook is a huge corporation but it's a new one compared to the established payment processors and banks and I don't think facebook wields much power among politicians.

In any case, I'm watching these developments with interest even though I could not care less whether Libra ever gets released. I don't think the world needs another stable coin and certainly not from a privacy hijacker like facebook.

Mianae

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If Libra was decentralized it could've gotten all the decentralisation support it could've needed to scale. Issues with centralization is institutional bodies and corporate individuals seem to support when they're favoured and if they ain't favoured they in turn easily backs out.

knuckey

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That support means nothing and will not affect or change the regulations which currently hamper the development and launch of Libra.

Quote from: tabas on October 18, 2019, 03:06:12 AM

And will also collect our data.

Collected and leaked as happened last time.

protEr

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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!

BonfireBob

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Quote from: SamboNZ on October 18, 2019, 03:01:27 AM

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.

That is a good point, but don't you think that in order to make Bitcoin global we need some centralized coins??

I am not defending Libra, and I am not encouraging its usage. I just think if more companies show trust in bitcoin it will have more influence in general.

NathanJB

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Quote from: AliMan on October 18, 2019, 07:06:25 AM

Quote from: judeafante on October 18, 2019, 06:52:35 AM

It's going to happen they have a lobby power since they have the funds and they have the resources they are now moving, because of the recent break away by some members of their group, they are going to do a lot of things and they will rally all the people that can make an impact on their project before their launch they coin, so we will see many more of this news.

As per review on what has been stated here, the Senator who supported this Libra project was expecting huge outcome for this project. Even if PayPal, eBay, Mercado Pago and Booking Holdings had quit on this project, it doesn't hinder them to push their motivations towards Facebook Libra. As the support goes strong, some sectors find it wasn't good to continue supporting Libra, but the situation goes break even due positive responses coming from government side; most specially Sen. Mike Rounds whose the one praises Libra.

One senator is not enough. If Libra makes a community of supporters even in the US congress I think they will likely push through with their project earlier. But if not, their 2020 planned launching is probably not going to happen. They are more than aware themselves that pushing through despite the warnings and objections of the US government will only lead them in a suicidal situation. They need to look at Telegram's project for example.

AliMan

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Quote from: judeafante on October 18, 2019, 06:52:35 AM

It's going to happen they have a lobby power since they have the funds and they have the resources they are now moving, because of the recent break away by some members of their group, they are going to do a lot of things and they will rally all the people that can make an impact on their project before their launch they coin, so we will see many more of this news.

As per review on what has been stated here, the Senator who supported this Libra project was expecting huge outcome for this project. Even if PayPal, eBay, Mercado Pago and Booking Holdings had quit on this project, it doesn't hinder them to push their motivations towards Facebook Libra. As the support goes strong, some sectors find it wasn't good to continue supporting Libra, but the situation goes break even due positive responses coming from government side; most specially Sen. Mike Rounds whose the one praises Libra.

Jating

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I wouldn't actually call this support though, he is just voicing his opinion on the subject here. And you know what? Libra has hired someone to lobbyist for them and I'm sure this is the result of such move from Facebook. So we might see some Congressman out there changing their tunes or still some of them are against Libra because they are afraid of the power that Facebook can have in the future.

There's no backing from Mark Z, he is all out and wanted his project to be on production next year, regardless of US government opposition or some of their partners deciding to leave them at this time.

judeafante

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It's going to happen they have a lobby power since they have the funds and they have the resources they are now moving, because of the recent break away by some members of their group, they are going to do a lot of things and they will rally all the people that can make an impact on their project before their launch they coin, so we will see many more of this news.

Wintersoldier

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Quote from: ivakar on October 18, 2019, 04:19:15 AM

after Libra project left mastercard, visa, amazon I think facebook decided to buy some support from government
what known in some country as corruption, in us called lobby Grin

but the point is the same, business pays money to a politician in order to do something in favour of business
I guess that means that something went wrong and facebook goes to plan B Grin

Let's think of the reason why a government official needs to support libra coin, well, in my perception, there's no reason why he needs to support libra coin. Government doesn't need it, they can create their coin and call it their own, there's something fishy in here. In this case, we can still control the market, let us invest in bitcoin and let libra perform and see if it can surpass known altcoins.

DaMut

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Quote from: SamboNZ on October 18, 2019, 03:01:27 AM

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.

Absolutely true, Libra is a stable coin and it will not crypto-industry by any means. They might monopoly the digital transaction if they are allowed to, with his style of doing things. I would not be surprised to see a mass fud coming for cryptocurrency in the future.

Quote from: ivakar on October 18, 2019, 04:19:15 AM

after Libra project left mastercard, visa, amazon I think facebook decided to buy some support from government
what known in some country as corruption, in us called lobby Grin

but the point is the same, business pays money to a politician in order to do something in favour of business
I guess that means that something went wrong and facebook goes to plan B Grin

It was Mastercard, Visa and Amazon left Libra not Libra left them. Just like in the movie, a villain survives until the end of the film.
do not be surprised to see another major supporter in congress show up helping Libra.

BlackFor3st

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Quote from: CryptoBry on October 18, 2019, 01:41:54 AM

And this good news for Facebook's Libra even if there is only one showing up with the party. Mark Zuckerberg is hoping that an avalanche of support from legislators can suddenly and magically appear right before his eyes...

Quote

Amid a sea of scorn, one U.S. Senator is praising Libra.Sen. Mike Rounds (R-S.D.) wrote a letter to Libra Association member Anchorage, a South Dakota-based trust company, endorsing the Facebook-led project and citing it as an example of a technological advance he feels is needed to aid U.S. consumers.

Rounds also pushed back against a more “ominous” letter penned by Senators Brian Schatz (D-Hawaii) and Sherrod Brown (D-Ohio), warning the CEOs of Mastercard, Visa and Stripe that they may come under increased regulatory scrutiny should they continue participating in Libra. (All three, alongside PayPal, eBay, Mercado Pago and Booking Holdings, later quit the project.)

“Technologies like Libra … have the potential to help unbanked and underbanked consumers right here at home...”

Read more of this here...

Well, its good to see that a good senator is bucking the trend. From time to time, it is also nice to hear a different opinion, conviction and conclusion in relation to the launch and subsequent operation of the Libra coin platform which Mark's minions are hoping can be done as soon as possible. Maybe Mark and Marcus can conduct an information and PR campaign to convince more members of Congress and Senate to allow Libra operate maybe provisionally before they make a conclusion that it can severely affect the traditional systems of the land.

Assuming that you are in the big shoes of Mark Zuckerberg, what are the changes you plan to execute with Libra to make it more digestible and palatable with the angry regulators and legislators?

So there is still hope for Libra to continue it's launch even if not sooner but maybe later as Libra will need more than Mike Rounds to be able to launch their project.

If this will continue and others will start to support Libra like avalanche of support as what Mark Zuckerberg is hoping then this project will surely be well known if it can successfully launch. Let's see if what will happen next, whether other will side the ideals of Mike Rounds or not.

cryptoknightt

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even though libra has such support I feel it is still lacking to attract investors to buy and participate in fundraising for the development of the Libra platform. hopefully large companies can accept libra and support the development of libra.

jets567

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Quote from: ?? on ??

I don't know why these guys supporting that project, Libra is no difference like the other coins out there. Why not support Bitcoin? If they just legalize bitcoin in their country like the German, we may already see BTC price in

The only factor I see why they support Libra coin instead of Bitcoin is that they can have a full control over it and they can take advantage of for their own self-interest. I'm not totally against the Libra coin because it could help to raise awareness about Bitcoin globally though I'm not sure if Facebook will let Bitcoin to be tradeable under their platform in the future.

DarkDays

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Glad to see that Rounds is actually thinking about Libra for what it should be, rather than what it might grow into. As a stablecoin, Libra has the potential to allow people around the world to cheaply remit money without having to worry about ridiculous middleman and remittance fees. It could grow to disrupt the global remittance industry that essentially sees the governments of third world countries steal a fraction of money moved across borders.

The US doesn't charge remittance fees as far as I'm aware, except perhaps from sanctioned countries, so overall it should be of a huge benefit to US citizens.

SamboNZ

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Quote from: ?? on ??

I don't know why these guys supporting that project, Libra is no difference like the other coins out there. Why not support Bitcoin? If they just legalize bitcoin in their country like the German, we may already see BTC price in the currency chart every day.

Bitcoin is legal in the U.S.probably they would get free money out of thin air. Just like Bitfinex creating millions of tether.
Problem with centralized coins they can create and possibly hide those money.

Bttzed03

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Quote from: CryptoBry on October 18, 2019, 01:41:54 AM

~
Assuming that you are in the big shoes of Mark Zuckerberg, what are the changes you plan to execute with Libra to make it more digestible and palatable with the angry regulators and legislators?

No other way but to prove to them that they have a better system to improve the payment industry in the US.

Here's from another article:

Quote from: https://cointelegraph.com/news/us-senator-finds-negative-reactions-to-facebooks-libra-puzzling

The Senator points to the people’s Republic of China, where 80% of consumers used mobile payment systems last year, compared to only 10% in the U.S. According to the Senator, the payment industry in the U.S. is still in its infancy and it is therefore bewildering that his colleagues would react with such hostility to the creation of Facebook’s Libra stablecoin.

ivakar

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after Libra project left mastercard, visa, amazon I think facebook decided to buy some support from government
what known in some country as corruption, in us called lobby Grin

but the point is the same, business pays money to a politician in order to do something in favour of business
I guess that means that something went wrong and facebook goes to plan B Grin

uray

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Quote from: CryptoBry on October 18, 2019, 01:41:54 AM

Assuming that you are in the big shoes of Mark Zuckerberg, what are the changes you plan to execute with Libra to make it more digestible and palatable with the angry regulators and legislators?

The major change Mark and the entire team will do is to lobby the regulators and legislators and they will pay them good to change their views and to support their project, he just got a major supporter in congress and how do you think he changed his views, lobbying and $igns Cheesy

. We can expect more people supporting them in the end of this year as they will target the decision makers.

Topic: Libra Just Got Its First Major Supporter in Congress - page 2. (Read 498 times)