Paypal to leave Libra - page 2. | Bitcointalksearch.org

bitgolden

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Quote from: upyem2k on October 06, 2019, 09:56:58 PM

I doubt if that will be the case. A lot of investors and partners pull out of bitcoin and ethereum at start and it didn't kill the project, I am sure libra is a coin to stay most especially with reference to person of Mark Zuckerberg.

This the mistake most powerful projects use to make thinking that it is only the support of these organizations that they need to be successful, meanwhile, it is really the common man who would be their user that would make the project successful.

Who is PayPal too without you and me? PayPal would be nothing today if we all decide not to use PayPal, and I think that one of the threat to PayPal is that they have already seen that Facebook will eventually be their rival, so they would not use their hand to destroy their own project by supporting Facebook project and I think that is already late as their project has been destroyed already, if Facebook can release this coin, surely, may people would leave PayPal for Facebook, that is what I do not have any doubt about at all.

upyem2k

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I doubt if that will be the case. A lot of investors and partners pull out of bitcoin and ethereum at start and it didn't kill the project, I am sure libra is a coin to stay most especially with reference to person of Mark Zuckerberg.

Darooghe

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Quote from: DigeNarrator on October 05, 2019, 10:20:21 PM

they leave Libra before Libra was even created
wow such news..
its all a shit show to distract us from the real decentralized projects
Libra is not for the people it'll be made to dump on normal people to buy BTC and other real cryptocurrencies

Agreed. Facebook with a consortium of 28 organizations have decided to become the controller of a Crypto currency, which negates the entire point of it, but one of them is out now. Libra is a deviation from the decentralised cryptos like bitcoin, it's trying to cash in using dirty tactics and deceiving idiots. It’s a solution to a problem that doesn’t exist, and totally misses the point of Cryptocurrency. This news shows Bitcoin is unstoppable, and sooner or later it becomes a price stability coin at market what the Libra wants to offer people. Personally, i really want Libra to fail and even I want to see PayPal fail.

Tylev

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Quote from: Tipstar on October 03, 2019, 08:27:01 PM

A financial times article reports Paypal is on the verge of leaving Libra project as a founding member.
Coindesk explains it https://www.coindesk.com/paypal-might-withdraw-from-libra-association

Would it be the precursor of termination of Libra before even launching. What are your thoughts on the future of Libra? Would it even see the light?

I have long read that Visa has withdrawn from supporting the Libra project. Now PayPal intends to do it. This indicates that potential Libra coin partners are gradually disappointed in the prospects of this project. I am more inclined to believe that this sensational stable coin will never be issued. First of all, regulators will not allow this.

cutesgirl

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PayPal have announce they will left Libra coin, they are not working anymore with Libra cryptocurrency because still not have planning when listing and open for public. I heard some information PayPal want to build their own cryptocurrency and left Libra for focus on their crypto how to make investor will be interested.

Vinalians

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Maybe paypal see a big problem on the libra cryptocurrency or on its future. Libra is the light of cryptocurrency to me, they are helping cryptocurrency to be known by people around the world. I just don't think that libra would have a big role in the community right now because there are so much cryptocurrency right now and bitcoin can provide all the needed in the society right now I guess. If libra had it's own use, I mean if it had the uniqueness above others for sure there will be a light on this cryptocurrency.

strickland

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Quote from: DigeNarrator on October 05, 2019, 10:20:21 PM

they leave Libra before Libra was even created
wow such news..
its all a shit show to distract us from the real decentralized projects
Libra is not for the people it'll be made to dump on normal people to buy BTC and other real cryptocurrencies

Libra is not going to go anywhere. That is why they left that project.

DigeNarrator

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they leave Libra before Libra was even created
wow such news..
its all a shit show to distract us from the real decentralized projects
Libra is not for the people it'll be made to dump on normal people to buy BTC and other real cryptocurrencies

chaoscoinz

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Quote from: Tipstar on October 03, 2019, 08:27:01 PM

A financial times article reports Paypal is on the verge of leaving Libra project as a founding member.
Coindesk explains it https://www.coindesk.com/paypal-might-withdraw-from-libra-association

Would it be the precursor of termination of Libra before even launching. What are your thoughts on the future of Libra? Would it even see the light?

Really good article, coindesk is my top news site for cryptocurrencies. I can't really blame PayPal, they seem upbeat with the push for innovation, but the regulatory scrutiny surrounding it could turn into a nightmare, so I guess their considering playing it safe, from a business perspective.

TimeTeller

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Quote from: JeffBrad12 on October 05, 2019, 06:24:06 PM

Quote from: hatshepsut93 on October 05, 2019, 02:43:30 PM

Quote from: #Darren on October 05, 2019, 08:19:07 AM

I believe it should have happened sooner or later, because in my eyes Libra is a direct competitor of Paypal. Libra wants to achieve cross border payments without time and place restrictions based on blockchain technology. The same things does paypal but in a centralised way.

Then why did PayPal join Libra in the first place if it's their direct competitor? And why did all the other payment companies join Libra, if it is supposed to disrupt them?

I think they all wanted to work with Libra for better interoperability, Libra could have been a big middleman for multiple payment networks, but now that it was blocked by regulators, its backers don't want to be associated with it, it becomes a serious risk.

Also, Libra isn't decentralized alternative to companies like PayPal, it has KYC and central authorities, so it's really not that different.

It's like the saying if you can't beat them join them. In the world of business as of now there's no such thing as direct competitor if you can invest to them and get the profit aswell. The only reason paypal leaving is because the regulation backlash and that is really understandable and I do agree as you said Libra is not decentralized by any means it is obvious that Libra is centralized. The whole thing works just like USDT or TrueUSD it's a crypto with blockchain but owned by a company and the company have the authority to do literally everything to the coin because they are the reason why that coin have a value.

If Libra project will gonna push thru, I believe PayPal will renew its collab with the project.
Libra is just under high scrutiny because of the big names and its huge scope of business surrounding it.
If the government will be loose today on this project, it would be hard for them to implement some regulations later on.
So I think, they are just taking too much precautions on this big project. Because later on, they know a lot of big industry players will follow what Libra is trying to embark on.

JeffBrad12

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Quote from: hatshepsut93 on October 05, 2019, 02:43:30 PM

Quote from: #Darren on October 05, 2019, 08:19:07 AM

I believe it should have happened sooner or later, because in my eyes Libra is a direct competitor of Paypal. Libra wants to achieve cross border payments without time and place restrictions based on blockchain technology. The same things does paypal but in a centralised way.

Then why did PayPal join Libra in the first place if it's their direct competitor? And why did all the other payment companies join Libra, if it is supposed to disrupt them?

I think they all wanted to work with Libra for better interoperability, Libra could have been a big middleman for multiple payment networks, but now that it was blocked by regulators, its backers don't want to be associated with it, it becomes a serious risk.

Also, Libra isn't decentralized alternative to companies like PayPal, it has KYC and central authorities, so it's really not that different.

It's like the saying if you can't beat them join them. In the world of business as of now there's no such thing as direct competitor if you can invest to them and get the profit aswell. The only reason paypal leaving is because the regulation backlash and that is really understandable and I do agree as you said Libra is not decentralized by any means it is obvious that Libra is centralized. The whole thing works just like USDT or TrueUSD it's a crypto with blockchain but owned by a company and the company have the authority to do literally everything to the coin because they are the reason why that coin have a value.

Akoldi_ibk

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I really want this Libra to hit the market. It might not affect the market that much, but might be the door that usher more people into the crypto community. On the other hand, it might stand against what crypto true representation, which are privacy and decentralization. This privacy issue with Facebook. Now that three core members are on the verge of pulling out of the project, I don't see anyway by which the project could pull again the initial momentum if given the greenlight to proceed.

sorrros

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Paypal was a strong partner for Facebook Libra because Paypal has long-term experience with internet payments, but still they have partnered with MasterCard and Visa, if thse companies also leave the game, Libra probably will not be strong enoug to create successful coin.

hatshepsut93

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Quote from: #Darren on October 05, 2019, 08:19:07 AM

I believe it should have happened sooner or later, because in my eyes Libra is a direct competitor of Paypal. Libra wants to achieve cross border payments without time and place restrictions based on blockchain technology. The same things does paypal but in a centralised way.

Then why did PayPal join Libra in the first place if it's their direct competitor? And why did all the other payment companies join Libra, if it is supposed to disrupt them?

I think they all wanted to work with Libra for better interoperability, Libra could have been a big middleman for multiple payment networks, but now that it was blocked by regulators, its backers don't want to be associated with it, it becomes a serious risk.

Also, Libra isn't decentralized alternative to companies like PayPal, it has KYC and central authorities, so it's really not that different.

AndRE177

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Quote from: Tipstar on October 03, 2019, 08:27:01 PM

A financial times article reports Paypal is on the verge of leaving Libra project as a founding member.
Coindesk explains it https://www.coindesk.com/paypal-might-withdraw-from-libra-association

Would it be the precursor of termination of Libra before even launching. What are your thoughts on the future of Libra? Would it even see the light?

In the beginning Libra had very strong partners, among them were such as: eBay, PayPal, Visa, MasterCard, Booking, Uber, Coinbase, Spotify. However, after Libra began to have problems with American regulators, many of these partners refused to participate in the project. It is a pity that this happens, because Libra could really replace digital money.

joinfree

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Each and everyday we heard about new blockchain project coming into the fintech side but SEC is allowing each and every one to do their project. but why only facebook Libra coin is under pressure. There is something going on behind . They dont trust Mark Zuckerburg because of how he leaks people information. how you they trust the same guy with peoples money. gradually all the supporter will step out of the project.

Alexandr Kirichenko

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I read this news. I think the Libra project is now on the verge of collapse. And such big players leave it for a reason. I think that there is some pressure from the States, banks and other disinterested persons. But if Libra comes to light, I think it will be a coup in relation to the cryptocurrency. And further strengthen its position.

Murat

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Paypal had to because facebook is no longer trusted by anyone even the regulators. I think PayPal took a very good decision by leaving the libra project because in the future it may harm the reputation of PayPal too. Libra is not going to add anything in crypto except for facebook as they will use it for their own platform. This project only helps Facebook financially & in gaining users.

Though it's not official yet as far as I heard. This is just rumors or this can be used as trying to shake the market again with fake news. WSJ posted this but not sure how much we can trust them. We have to wait for the official to know the truth.

Lance203sin

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Visa and MC are going to leave to. Libra have a lot of problems

FanEagle

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Quote from: Tipstar on October 03, 2019, 08:27:01 PM

A financial times article reports Paypal is on the verge of leaving Libra project as a founding member.
Coindesk explains it https://www.coindesk.com/paypal-might-withdraw-from-libra-association

Would it be the precursor of termination of Libra before even launching. What are your thoughts on the future of Libra? Would it even see the light?

I never even knew that PayPal was a partner in crime to Libra coin, well, it is very good they were able to easily discover that they should not have been a part of Libra coin because this Libra project is such a meaningless one to me as I don't see any role that they want to pay.

How is it possible for them to want to come up with global currency when every country is desiring to own their own National currency, and I guess one of the reasons why PayPal quickly pulled out was because of the recent proposal of the United State planning to have their own National Currency, and believe me that the United states citizens would rather prefer to give their details to their government than to register any sensitive details with Facebook through their project.

Topic: Paypal to leave Libra - page 2. (Read 714 times)