Nah.. we don't need a stable coin. We need a real decentralized cryptocurrency that is not controlled by any government NOR by any COMPANY like Facebook is. I view countries like bigger companies, so why would you trust them to control a coin?
Fundamentally Libra will be backed by fiat currencies (USD, GBP, EUR,etc.) which guess what.. are controlled by govts. So what is the deal here? It is like using virtual fiat currency, why not use banks lol I wouldn't invest into Libra just because I can send money directly through the social network. That is ridiculous..
Topic: Should we boycott the Facebook Coin (Project Libra)? - page 3. (Read 4360 times)
They just announced Libra and facing too Mich problem. Its to early to take any decision. And in some point I think face would help people to know about this market. I know its break the first rule of crypto decentralization. But still. It may help in some point.
I think we should Bycott Libra. They can't fight with blockchain and bitcoin. There are many ways to reach to people who are willing to have a decentralized system. I want to control my money and bypass banks. Libra and the other centralized coins are trying to give us that but in a centralized way. As I said, they can't fight with bitcoin but create a rival for it.
Facebook is the antithesis of everything Satoshi stood for.
Should we, as the crypto community, boycott their effort?
I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.
It wouldn't be the first time that a company had engaged in lobbying and rent-seeking to harm competitors.
It is early to say that we should boycott the Facebook coin, as I've heard about that coin, it is less volatile than other cryptocurrencies and much better security. Well, we all don't know what's behind that coin until they launch their coin. So let's wait and see its potential. As we all know, Facebook is very popular, so they can use their influence to advertise their coin better and a fastest way they can. Should we, as the crypto community, boycott their effort?
I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.
It wouldn't be the first time that a company had engaged in lobbying and rent-seeking to harm competitors.
There are a lot of threats against the Libra from the France, US and Germany but as the biggest social media Facebook developers are able to handle these manipulations in order to give their customers the best product. Stable coins will lose the popularity in the exchanges in case of Libra gonna be traded on the well-known crypto exchanges.
Libra needs to be promoted on the contrary, because it will bring fresh money to cryptocurrencies. And that means raising the prices of our altcoins.
How it brings a fresh money into the cryptocurrency market? Libra is not an altcoin, instead, it is a stable coin. It is an independent entity, and its flow is being controlled by themself.
let's count how many stable coin out there? [USDT, TUSD, USDC, PAXOS, GEMINI, DAI, BitUSD, sUSD]*.
and how much they bring a fresh money to the market?
* https://stablecoinindex.com/
I see no reason to boycott another stablecoin, he's done nothing wrong. On the contrary, Facebook will be an excellent guarantor of the liquidity of the new stablecoin and a large number of users of this social network will bring popularity to Libra.
On the other hand, I see so many reasons to do that. Right now it does nothing, but how about the future?
facebook did something brazen a while ago, and do you believe them not to do it again? when money is involved, everything can change.
I see no reason to boycott another stablecoin, he's done nothing wrong. On the contrary, Facebook will be an excellent guarantor of the liquidity of the new stablecoin and a large number of users of this social network will bring popularity to Libra.
Libra coin has a team, but who knows if they are still serious about it. Well, if they are, then it means that something good is likely going to come up.
Among others, Libra shows centralized quality, which is contrary to the resl essence of blockchain technology. However, Libra has a tendency to succeed.
Among others, Libra shows centralized quality, which is contrary to the resl essence of blockchain technology. However, Libra has a tendency to succeed.
Facebook is the antithesis of everything Satoshi stood for.
Should we, as the crypto community, boycott their effort?
I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.
It wouldn't be the first time that a company had engaged in lobbying and rent-seeking to harm competitors.
Why everyone seems afraid of Facebook's cryptocurrency Libra what was real reason? I also read those so called articles about Libra and there's nothing new about it, Even Bitcoin has also advantages and disadvantages so why we get alarm, just put in mind that Facebook alone has billion of users do you think Facebook cryptocurrency Libra is needing us? for me the more important matter is how to address those scams that victimized cryptocurrency investors including me. That was my personal opinion about this Thread. Should we, as the crypto community, boycott their effort?
I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.
It wouldn't be the first time that a company had engaged in lobbying and rent-seeking to harm competitors.
in my opinion we don't need to boycott Facebook (LIBRA) because Facebook will have the advantage of other coins ... even though it will be the biggest competitor of Bitcoin in the future but between Bitcoin and Libra have advantages and disadvantages of each ... so let's watch together in the future ... what will happen.
If you are not even interesting to watch all of articles about libra and i hope that you must watch it ASAP. If looks like you know nothing about libra. Stop say crap about that and libra will give nothing to the cryptocurrency. You can't even explain what advantages will be given by libra for crypto.
Libra is such a crap coin and this similar as TON coin which has made a lot of investors are losing their money.
in my opinion we don't need to boycott Facebook (LIBRA) because Facebook will have the advantage of other coins ... even though it will be the biggest competitor of Bitcoin in the future but between Bitcoin and Libra have advantages and disadvantages of each ... so let's watch together in the future ... what will happen.
Crypto-community favors Twitter much more then Facebook, cause of that crypto-community will boycott Facebook coin. Not only for that, it`s a little joke, crypto-community
will boycott Libra cause of that project itself, as they aim to become central bank, and we don`t like banks.
I don`t plan to take apart in Libra project. I deleted my Facebook account year ago and I will not make a new one.
will boycott Libra cause of that project itself, as they aim to become central bank, and we don`t like banks.
I don`t plan to take apart in Libra project. I deleted my Facebook account year ago and I will not make a new one.
Facebook or at least the people behind Project Libra knows that many crypto enthusiast are against them. So they already hire a lobbyist to do the dirty laundry:
https://www.bloomberg.com/news/articles/2019-09-05/facebook-hires-two-more-lobbyists-to-boost-libra-cryptocurrency
So the question is, as crypto enthusiast are we suppose to support any coins that go against the vision of crypto or at least bitcoin's decentralisation? I guess it really depends on the individual itself. If you can make money out of this project, will you go? I"m not saying that I'm 100% on the boat with this one, but when money speaks, everything changes.
https://www.bloomberg.com/news/articles/2019-09-05/facebook-hires-two-more-lobbyists-to-boost-libra-cryptocurrency
So the question is, as crypto enthusiast are we suppose to support any coins that go against the vision of crypto or at least bitcoin's decentralisation? I guess it really depends on the individual itself. If you can make money out of this project, will you go? I"m not saying that I'm 100% on the boat with this one, but when money speaks, everything changes.
I don't know if boycott means not using or patronising Libra, but I'm sure that I'm not going to be part of this hype or the company itself in terms of privacy. There's a lot of ongoing thread about Libra and I've seen that the consensus of the community is against this token or whatever you gonna call them. But to be fair, let them roll out and see how it goes for them.
I don't think that libra needs to be boycotted, even I am quite supportive of that development. Well, this is the world of technology, and there will always be the latest. if bitcoin does have benefits, and needs are better than libra, I think bitcoin will last. besides libra is crypto type of centralization, while bitcoin is decentralized. bitcoin has already defeated many crypto like that, so when libra becomes popular, I think bitcoin will be above it. although currently there are several countries that challenge the development of libra, I chose to see the development of libra in the future.
even when we tried to boycott libra, I also heard that China was making its own cryptocurrency. Well, I'm so sure there will always be developments like this.
even when we tried to boycott libra, I also heard that China was making its own cryptocurrency. Well, I'm so sure there will always be developments like this.
I prefer to wait for the official news and after the launch of the Libra, everything will become transparent for the crypto investors. As far as I know, the small investors will not be able to invest with the discount but making speculative assumptions is not right at the moment. I additionally like the new social media coins but Libra team don't want to see the coin fluctuates with the market value. If they will intervene in the cryptocurrency price, it will not be different than other stable coins in my prediction due to the going against the nature of volatile crypto markets.
i agree with you. we cannot judge them quickly, we can make mistakes when making opinions. as you said, we better just wait for the official news. after that we can judge and can determine the next step. i think that's wiser.
I prefer to wait for the official news and after the launch of the Libra, everything will become transparent for the crypto investors. As far as I know, the small investors will not be able to invest with the discount but making speculative assumptions is not right at the moment. I additionally like the new social media coins but Libra team don't want to see the coin fluctuates with the market value. If they will intervene in the cryptocurrency price, it will not be different than other stable coins in my prediction due to the going against the nature of volatile crypto markets.
It's much better to wait and see how things will work for this project before concluding with what directions it will take inside the market after being introduced inside the market, the more you assume the more possibilities that you'll made mistakes, best to wait and see what this project will have to offer and added to this industry, it will be judge with how things will work with this coin. 
Facebook is the antithesis of everything Satoshi stood for.
Should we, as the crypto community, boycott their effort?
I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.
It wouldn't be the first time that a company had engaged in lobbying and rent-seeking to harm competitors.
In my opinion, since Libra will still be a cryptocurrency, any lobbying laws that will contribute to its promotion will also contribute to the development of a common cryptocurrency. Moreover, Libra will in any case have to interact with other types of cryptocurrencies.Should we, as the crypto community, boycott their effort?
I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.
It wouldn't be the first time that a company had engaged in lobbying and rent-seeking to harm competitors.
I don’t think we should do anything about this Facebook coin. Now the G-7 countries have sharply opposed its use, even if they decide its fate. I have a very big doubt that Libra will ever be released at all.
I prefer to wait for the official news and after the launch of the Libra, everything will become transparent for the crypto investors. As far as I know, the small investors will not be able to invest with the discount but making speculative assumptions is not right at the moment. I additionally like the new social media coins but Libra team don't want to see the coin fluctuates with the market value. If they will intervene in the cryptocurrency price, it will not be different than other stable coins in my prediction due to the going against the nature of volatile crypto markets.
At first, I was excited about Libra that through this blockchain, a lot of new people will enter in the crypto space. But later I realized Libra is not crypto nor it is helpful for us. I have no plan to buy the Libra coin and I convinced my friends not to involve in Libra. Libra can harm the Decentralization nature of crypto, so, yes, we may boycott this.
Jump to: