Should the libra project be halted? - page 3.

cahbagus555

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Quote from: Kotone on September 28, 2019, 09:57:17 PM

How can we trust Libra if the social site Facebook is spying on us? Remember the logging in of 50million accounts on facebook incident? Are you not confuse, how suddenly there's a breached in the system? Or more like it they trying to monitor some potential threat on their company. I guess it's all facebook doing and not an error alone. Libra has now become a mainstream and trending project but most crypto society is frying out its development even its platform capability.

It's hard to trust the security of our funds in companies that have spied on their users like Facebook. But the idea issued by Facebook about Libra Coin provides a perspective that transactions can be easier and cheaper.

Retainly_Collie

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Quote from: 2girls on September 28, 2019, 11:40:07 AM

Quote from: daporivera on September 28, 2019, 05:25:54 AM

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?

I do not think that Libra project should be stopped. Once Libra coin is released all the Facebook community will come to know about crypto currencies and this will increase the adaption of bitcoins.

In fact, it will have a lot of influence on the market as well as cash. I do not know whether Libra should appear or not

Kotone

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How can we trust Libra if the social site Facebook is spying on us? Remember the logging in of 50million accounts on facebook incident? Are you not confuse, how suddenly there's a breached in the system? Or more like it they trying to monitor some potential threat on their company. I guess it's all facebook doing and not an error alone. Libra has now become a mainstream and trending project but most crypto society is frying out its development even its platform capability.

NathanJB

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Quote from: Anonylz on September 28, 2019, 01:52:08 PM

i haven't heard much about this coin lately, i even thought it has been halted already, though i would have love to see it continue, such big project like libra will have a massive impact on crypto, i mean, we could already see it in the past few days that the news came out, it was the talk of all social media which was also indirectly increasing the recognition of crypto because there was no mentioning of libra without crypto been mentioned.

And where have you been lately? This controversial project has been around and never left the peering eyes of the media. Before, the controversy stirred by this big project, was focused in the US only. And then it went as far as Europe and countries such as Germany, France, and others have said one or two remarks on it. Mostly, feedback from these governments are on the negative side, but then it has never been halted. There will be postponement for sure but a project as big as this will not just stop for good.

befriendmywater

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Libra would really be a very big company if it were not heard and constrained by some of the government's regulations for the project.
I also disagree with the birth of Libra. because it dominates an ecosystem so large and besides, money laundering also becomes easier for facebook and other businesses.
Besides, the fact that Facebook is holding a lot of personal information of users will make the MPs more suspicious.
I really had a strong belief that Libra would not be able to be established and that it should not appear in this world either.

Akoldi_ibk

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What Libra needs is favourable regulation to put the project in check and to protect the users. Libra will bring massive adoption to crypto industry like never seen before. From a perspective of a crypto lover, I propose Libra should be given the chance to demonstrate the ability of blockchain to world on a large scale.

Mrsparks

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In my opinion the Libra project should not be halted, although a lot of check and balance ought to be put in place in order to avoid the constant breach of user personal details and abuse of data. If regulations are put in place I think the libra coin will have more of a positive impact on society.

Anonylz

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i haven't heard much about this coin lately, i even thought it has been halted already, though i would have love to see it continue, such big project like libra will have a massive impact on crypto, i mean, we could already see it in the past few days that the news came out, it was the talk of all social media which was also indirectly increasing the recognition of crypto because there was no mentioning of libra without crypto been mentioned.

DU18

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Even though Coin Libra has not been officially released yet, there have been a lot of controversies happening today, both those who agree and those who do not, but I personally consider this coin Libra will not greatly affect crypto especially bitcoin, Because, regarding price it is clear that Libra and crypto have big differences, where the bitcoin fluactive price is an attraction for investors to buy it while Libra has a stable price so that investors will find it very difficult to benefit from Libra coins, because Facebook specifically designs Libra coins as a means of payment rather than as an investment asset and of course has a price that is stable.

Seghokendil

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Quote from: coaprotet on September 28, 2019, 12:32:49 PM

If they would successfully negotiate with major countries and especially with Europe, there would be no problem at all. Libra is a blockchain based Paypal, that would bring a lot of new people to the industry.

yes this can affect the adoption of crypto. but many big companies and some big countries like the US balked about facebook coins. there are still many disputes about this

coaprotet

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If they would successfully negotiate with major countries and especially with Europe, there would be no problem at all. Libra is a blockchain based Paypal, that would bring a lot of new people to the industry.

eaLiTy

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Quote from: daporivera on September 28, 2019, 05:25:54 AM

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.

There is a point what the ECB executive board member is telling, if everyone comes up with their own version of a centralized coin then we will create another worm of trouble which could have major implication over the global financial system where all the fraudsters in the world will reign free and come up with something to wash their money. It is a real challenge for facebook as well as the governing bodies to come up with a resolution which will be fair for everyone.

Personally i just want one coin and that is BTCitcoin and the rest of the market should be halted Grin

.

skarais

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Quote from: 2girls on September 28, 2019, 11:40:07 AM

I do not think that Libra project should be stopped. Once Libra coin is released all the Facebook community will come to know about crypto currencies and this will increase the adaption of bitcoins.

I think Libra is a big project, if it has to be stopped then at least there must be a pretty important reason. After it was released, I thought they would have a large community and that's what I think now.
Regulations may apply to some countries that reject the presence of the Libra project. The question is whether with the presence of Libra, financial stabilization will be disrupted or just a threat?

2girls

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Quote from: daporivera on September 28, 2019, 05:25:54 AM

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?

I do not think that Libra project should be stopped. Once Libra coin is released all the Facebook community will come to know about crypto currencies and this will increase the adaption of bitcoins.

seagates

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Libra may make facebook too powerful. They like to track users so much. And do it libra should be halted

pcfli

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I don't think so, the Facebook team already analyzed the market conditions and there is not big competitor against the Libra. Maybe in the future, there will be restrictions by the governments but I don't think it will be completely blocked by the major countries. The regulation talks will not help the crypto community and the Libra team for reaching their goal in the crypto space.

crazy-pilot

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I hate Facebook and personally Mark. I don't like everything this guy does, but watching regulators around the world get angry is fun. I think Libra should be halted just because Mark should not have this power.

jacafbiz

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Libra Project has come to stay, Facebook is a multinational company and when you look at the number of company behind Libra you will realise that it is just a matter of time. For me Central banks are scared because they have failed the system already and project like Libra could take away part of their roles. These politicians have their price and Libra team is going to pay it

Ibizugbe1

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Why halt a project like Libra? It should be allowed to proceed and let's see how traditional banks fair. Traditional banks are scammers reaping where they have not sold. Lending out your own money to you and making you pay interest on it. Libra will favorably compete with them if allowed.

htsy585

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Quote from: snakey on September 28, 2019, 05:29:09 AM

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/

Appatantly purchasing the Israeli chat ware service friend is an indication that Libra will definitely launch. Asides the negative attributes Mark especially In handling users personal data, I think Libra will do more good to for he cryptocurrency space than harm and should not be halted

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