Topic: Should the libra project be halted? (Read 547 times)
Those with interest in Libra coin will not let that happen it's like killing a goose that will lay down golden eggs, although there are so many oppositions, it will continue, it is bringing so many things in the Crypto and services for the masses, but for me I don't see myself buying this Libra coin, I'm not using and will gonna use any services associated with Facebook, but of course I can eat my words.
As for me, I am not going to use Libra as I do not want to give Facebook my personal data and cryptocurrency. At the same time, their platform may become a bridge for new investors to the crypto world.
It's a stable coin and how it can be a bridge between new investors and crypto? due to the facebook scandal and so many people are feeling worried to use libra but what will be happening if the users will get a free limit without doing a verification? it may become a different story.But this is the same like the government printing its money. Facebook is a party who will control libra that's also make me feeling doubt
At this point in crypto, if there is anything needed to push crypto, it's the libra project. It will bring a lot of adoption and interest from all spheres of the world once it is launched.
I don't have to stop it, I think with the release of Libra will increase people's interest in digital money and will get to know cryptocurrency more.
the presence of libra will not have too much impact on BTC and altcoin.
the problem is in the bank and the government is afraid that libra will take over, which I think will be very difficult.
the presence of libra will not have too much impact on BTC and altcoin.
the problem is in the bank and the government is afraid that libra will take over, which I think will be very difficult.
It should not be halted because everyone in the world is using Facebook and as an advertisement, it will be great for cryptos. People are usually not interested in cryptocurrencies because they thinks its kind of a ponzi or fraud. After facebook integrates with a cryptocurrency, I am sure there will be more people in blockchain.
First off, the Libra project should be halted for the sake of other cryptocurrencies. Facebook, and other companies such as PayPal, VISA, Master Card; are trying to build their own global currency called LIBRA COIN but the world powerful nations are not happy about it because the LIBRA will control the monetary circulation around the world which is going to be very bad for the World Super Powers. If we don't want the World Super Powers to neglect cryptocurrencies around the world we must join hands to fight LIBRA COIN.
LIBRA = Trouble for Crypto!
LIBRA = Trouble for Crypto!
Right before the launch of libra the global coin, a lot of controversies is associated with the project. Amongst it controversies is that from Yves Mersch an ECB executive board member who said Libra is a “siren call” that will ultimately lead to the formation of a “cartel-like” ecosystem.
It is noted that libra is designed in a way to give Facebook centralized control over the entire entity admist Facebook claim they won't be directly involved in the libra ecosystem.
However the group that will be managing libra project is calibra a fully owned subsidiary of Facebook which is indicative Facebook will still have full control over the ecosystem.
Facebook has acknowledged what many have been saying – that regulatory issues may be an insurmountable barrier to the launch of its Libra global cryptocurrency project.
And not only is Libra “based on relatively new and unproven technology,” the laws and regulations around digital currency are “uncertain and evolving.”
Central banks, government ministers and watchdog chiefs have been lining up to demand more information on the project over fears it could pose a threat to central bank money and financial stability, and provide a global avenue for money laundering and fraud.
In your opinion should the libra project be halted?
It is noted that libra is designed in a way to give Facebook centralized control over the entire entity admist Facebook claim they won't be directly involved in the libra ecosystem.
However the group that will be managing libra project is calibra a fully owned subsidiary of Facebook which is indicative Facebook will still have full control over the ecosystem.
Facebook has acknowledged what many have been saying – that regulatory issues may be an insurmountable barrier to the launch of its Libra global cryptocurrency project.
And not only is Libra “based on relatively new and unproven technology,” the laws and regulations around digital currency are “uncertain and evolving.”
Central banks, government ministers and watchdog chiefs have been lining up to demand more information on the project over fears it could pose a threat to central bank money and financial stability, and provide a global avenue for money laundering and fraud.
In your opinion should the libra project be halted?
Libra coin is a great disruption so I am not in favor in halting or stopping it from launching, it is bringing so many things in the table and and the cartel-like system does not yet confirm that it will lead to that scenario although they are already using the word will, Libra will still be subjected into so many regulations, I think they just want to say at this point of time that they don't want to make it easy for Facebook when Libra coin is already operating.
Libra has been getting on the nerves of many regulators already and also on many crypto players like us. Will it be banned? Not likely since Libra is a coin of Mark who owns the world’s largest social media platform, so he must have some influence in the world to make it legalized anyway.
Just because Facebook is one of the largest corporations in the world, you can't claim that they'll get Libra legalized by any hook or crook. A senate hearing is currently underway in the United States, as some of the politicians who were concerned with the plans of Facebook asked the corporation to clarify its future plans regarding the proposed cryptocurrency.
But some of the questions asked during the senate hearing were quite interesting. David Marcus was representing Libra. Some of the questions are:
Quote
1. Are you taking any steps to make sure Libra doesn't overtake the dollar?
2. How would Libra respond to sanctions?
3. How is Libra different from an ETF?
2. How would Libra respond to sanctions?
3. How is Libra different from an ETF?
Looks like the senators are spooked by any potential competition that Libra can offer to the USD.
Libra has been getting on the nerves of many regulators already and also on many crypto players like us. Will it be banned? Not likely since Libra is a coin of Mark who owns the world’s largest social media platform, so he must have some influence in the world to make it legalized anyway.
I think Libra is here for good. Yes it is a centralized cryptocurrency and most people don’t like this idea, and it is coming from the name Facebook attached behind it’s back which is known by many to be a private identity stealer, but just think about the benefits it will have in the crypto market. Many new people will come to know about crypto just because of Libra, and this will open opportunities for new investment option
I don't like Libra for having a centralized network but I like how it is pissing many regulators from different countries. Should it be halted? I don't think so but that's not for us to decide. Some countries will ban them for sure but so much money has already been poured into this project and stopping is no longer an option for them.
I agree that let a country ban it, if they think it's against their policy Libra coin will have a special role in Cryptocurrency adoption, it has created a widespread news and those who are ignoring the power of Cryptocurrency are now, taking a second look on how Cryptocurrency works and what's on it, this create awareness.
By that the existence of Libra doesn't necessarily reducing the liquidity of cryptocurrency market quite the opposite Libra could be a bridge to bring a more liquidity from the masses into crypto market as an alternative to an already popular crypto which is BTC or even another stablecoin.
I don't think libra coin will be powerful in future or not but yes the owner of this coin is very powerful guy and can do anything to hit the market, so it is impossible to halt in my opinion. A lot big companies might have poured a ransom of money so there possibilities of halting is very very low, the thing which frustrates is it is a centralised coin.
Many interested people who've been scouting on this discussion seriously taking some info that could help them formulate a perfect decision making. Halting this project Libra might be possible even if that owner had millions of dollars to capitalized on this coin.
If there's no stable market and demand is low for the project launch, do you think that the owner wants to continue? well, probably it could be halted one day.
I don't think libra coin will be powerful in future or not but yes the owner of this coin is very powerful guy and can do anything to hit the market, so it is impossible to halt in my opinion. A lot big companies might have poured a ransom of money so there possibilities of halting is very very low, the thing which frustrates is it is a centralised coin.
I don't like Libra for having a centralized network but I like how it is pissing many regulators from different countries. Should it be halted? I don't think so but that's not for us to decide. Some countries will ban them for sure but so much money has already been poured into this project and stopping is no longer an option for them.
I agree that let a country ban it, if they think it's against their policy Libra coin will have a special role in Cryptocurrency adoption, it has created a widespread news and those who are ignoring the power of Cryptocurrency are now, taking a second look on how Cryptocurrency works and what's on it, this create awareness.
I don't like Libra for having a centralized network but I like how it is pissing many regulators from different countries. Should it be halted? I don't think so but that's not for us to decide. Some countries will ban them for sure but so much money has already been poured into this project and stopping is no longer an option for them.
I agree that let a country ban it, if they think it's against their policy Libra coin will have a special role in Cryptocurrency adoption, it has created a widespread news and those who are ignoring the power of Cryptocurrency are now, taking a second look on how Cryptocurrency works and what's on it, this create awareness.
Too much controversies despite the fact that this coin is basically just another stablecoin. If there USDT and so many stablecoins there already exist why the hurdle? We could just move on and just stick to the usual way of using stablecoin it's not like cryptocurrency will be doomed if libra is halted anyway.
You also need to remember that facebook has always got a problem with violating privacy of their users, if it's to be happen again when they are already releasing Libra imagine the cryptos will take all the blame.
You also need to remember that facebook has always got a problem with violating privacy of their users, if it's to be happen again when they are already releasing Libra imagine the cryptos will take all the blame.
How can crypto be destroyed when libra is stopped while libra itself has not been officially launched. In my opinion, even though libra is halted, this will not affect other crypto, it will only cause temporary disappointment.
Libra is not an advertising platform so I don't think they will experience privacy issues and they will certainly learn from mistakes beforehand. If indeed Libra will be launched, Facebook itself will provide even tighter policies.
I am very torn as to whether Libra should be created at all. On the one hand, it will be the first step to introduce cryptocurrencies into mainstream, but on the other hand, I have big doubts whether it will be cryptocurrency at all. If Libra turns out to be centralized like Ripple, it can bring more bad things than good.
It was stated from the beginning that Libra Coin is like a stable coin and that means centralized cryptocurrency. I think it's different between XRP and Libra Coin because Libra Coin is a stable coin product from Facebook while XRP is not a stable coin
I am very torn as to whether Libra should be created at all. On the one hand, it will be the first step to introduce cryptocurrencies into mainstream, but on the other hand, I have big doubts whether it will be cryptocurrency at all. If Libra turns out to be centralized like Ripple, it can bring more bad things than good.
Ripple would not help Libra. They are competitors. So that's a bad idea.
I am very torn as to whether Libra should be created at all. On the one hand, it will be the first step to introduce cryptocurrencies into mainstream, but on the other hand, I have big doubts whether it will be cryptocurrency at all. If Libra turns out to be centralized like Ripple, it can bring more bad things than good.
Facebook has acquired Servicefriend, a startup that built bots — chat clients for messaging apps based on artificial intelligence to boost the Libra reach my knowing the usage of consumers.
I hate Libra from the very fact it comes from Mark who has been spying on all users data and using it towards the campaigns in US elections.
To read about the accusation of Servicefriend , you can click this link : https://techcrunch.com/2019/09/21/facebook-servicefriend/
Facebook should stop making a coin though it's the Internet so who cares. I hate Libra from the very fact it comes from Mark who has been spying on all users data and using it towards the campaigns in US elections.
To read about the accusation of Servicefriend , you can click this link : https://techcrunch.com/2019/09/21/facebook-servicefriend/
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