Should we boycott the Facebook Coin (Project Libra)? - page 7.

Moiyah

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Quote from: kaya11 on June 24, 2019, 06:21:40 PM

Quote from: YoloBull on June 24, 2019, 05:18:58 PM

_snip_

I think it wouldn't go beyond that point, maybe they will play by the rules and if their coin failed, I think they would stop and do something else aside from making a new coin, it's either upgrading their app or things that are related to it. Now we can't really easily boycott something that is so famous and without prior reasons. especially facebook is a tool used by billion of users around the globe.

You speculated it too much abut the Libra coin. Let us just wait for the outcome of this coin before jumping into conclusions. Perhaps, it isn't a threat to satoshi's invention. Libra coin will become a part of crypto coins now. Their project goal seems to be fine and of course we can see there are many supporters of this coin. What we can do now, is to look for their performance before doing your suggestions which is the boycott thing.

Ekyfitri

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Quote from: robelneo on July 01, 2019, 09:42:55 AM

They've already stated that their coin is a stable coin so I don't see this as a direct competitor of Bitcoin, they have a ready services and products they will just lay this out to their products, Facebook will help us for more awareness of Cryptocurrency, we still didn't see if it will have a negative impact in Bitcoin's performance.

certainly not going to be a meaningful competitor for bitcoin. it is even possible that Facebook coins can support the crypto market for the better, with mass adoption that can encourage more trade to increase. all depend on events and cooperation that will be carried out with projects, exchanges and other sponsors.

BryanK

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I think it's all done on purpose. The blockchain and cryptocurrency is a very good tools which are needed in this world. But at the moment the state is very much afraid that they will not be able to control the entire turnover in the cryptocurrency. Libra gives them this opportunity. So most likely it's just a tactical move to kill this cryptocurrency.

OliverBuracBTC2017

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If there is something bad that facebook coin will cause to the cryptocurrency world then it is very hard to prevent at all. Facebook is big and I think a lot of people will still buy or invest in their coin. Bitcoin I think will still be the top however if the threat is that strong then it will be in danger.

robelneo

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They've already stated that their coin is a stable coin so I don't see this as a direct competitor of Bitcoin, they have a ready services and products they will just lay this out to their products, Facebook will help us for more awareness of Cryptocurrency, we still didn't see if it will have a negative impact in Bitcoin's performance.

ridha inoue

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in my opinion boycotting LIBRA is an action that is not yet needed because we do not know what progress LIBRA will do.
currently LIBRA has disturbed the community in this forum and many people hate LIBRA today.
we can conclude that LIBRA has a negative impact on digital currencies.

masterrex

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I dont really understand why some people are threatend about Facebook cryptocurrency called "Libra" for me its doesnt matter since cryptocurrency Market today is not purely decentralized some other platform like ripple's XRP. was accused by some people say it was centralized in nature but its on top 3 Largest marketCap thats why for me Libra is not threat to bitcoin or has any issue about it. I believe bitcoin has a stored in value. and it wont be easily de throne by a newbie crypto like Libra.

maydna

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I don't think that if we boycott the facebook coin will stop them to continue the project because we know that Facebook has a big source that will help them to continue. I think we could let them finish the project and that will depend on people to choose to invest in their project or not because we cannot force people out there to stay away from the Facebook project.

Besides that, Facebook will do anything they can to make sure their project will continue with their plan, and they will use any strategy to do that. We cannot judge before they launch or release their coins at the market and let people decide later. I am sure people will know what they need to do related to the Facebook coin.

FanEagle

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It is not about having an affect or not on Libra. If all big crypto people and the crypto community doesn't like Libra and they all come against it saying how horrible it is and how risky it is and tell everyone the risks of Libra even with the huge user base of facebook they will have trouble, maybe they will still be fine but that would hurt their chances of becoming gigantic like they want to.

However, I still think we should not because the moment people get into Libra they will realize crypto ain't so bad and they will want to keep getting into further depths of crypto world and first step will be bitcoin. Anyone who uses libra and likes it will have a big chance of liking bitcoin too and buying some of it, that is why I think we should let it be whatever it wants so we can take advantage of its fame.

Bananington

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Recently I've been seeing concerns about Libra, Facebook's cryptocurrency. I understand it's more centralized which literally doesn't suit the decentralized nature of crypto architectures, but we have to look at the good sides of Libra. Libra is going to drive in massive crypto adoption, and that's what existing projects have failed to attain to a great scale. Libra will draw in more and more people to crypto space increasing the overall market capitalization. Libra is no challenge to Bitcoin as some people say because it's a stable coin, and moreover Bitcoin remains the pace setter and king.

CryptoAlphaStar

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No matter if we boycott it or not, there will be a massive user base for it.
Decentralization and privacy has its niche market share and we will continue to serve that.

NathanJB

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I admit that I have not yet carefully studied the pros and cons of Facebook's crypto project. If you haven't done the same, it is better to do it first before finally concluding that we should boycott the coin. In general, remember that Facebook, which has a lot of followers and supporters than haters, getting into the crypto phenomenon is a big advantage rather than not.

Red-Apple

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Quote from: Aveatrex on June 29, 2019, 02:51:54 AM

Quote from: timmmers on June 29, 2019, 01:42:58 AM

Libra coin will bring almost all Facebook people to cryptocurrency sphere

Not really.If Facebook manages to bring in only 10% of it's user base into cryptocurrency that's a big achievement.Things just doesn't work like that.

but it is not meant to do that at all. they will even discourage people to go into cryptocurrencies specially bitcoin even if it means spreading a lot of FUD. they have already done some small scale version of it when they made their announcement.

christian07

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Actually i think crypto now is good already without the Facebook Coin so no need for this like crypto with btc and alts brings so much convenience already because if this Facebook Coin run here in crypto world then many will change in that time like this can turn bad in crypto,Moreover as a users we can only rely in some regulator like US government then more

alphaboon

newbie

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I think it is too early to talk about boycott. Why not give it a try first

Shenzou

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Well XRP is centralized and no one said anything about it, people are investing it , not that i support the Facebook coin or anything but if you think about it we can use it for our own advantage, with the Facebook having so many users and a large user base and it is a very well know company, and if the coin gets a bit of success other companies will do the same and that will lead to wide acceptance of crypto which is a good thing for us, you don't have to support it, just use it for your advantage.

Aveatrex

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Quote from: Herbert2020 on June 29, 2019, 01:48:22 AM

well why aren't you boycotting XRP, ETH, BCH, BSV, ... and hundreds of other shitcoins that are fully centralized

ETH,BCH and BSV are not centralized to my knowledge.

Quote from: timmmers on June 29, 2019, 01:42:58 AM

Libra coin will bring almost all Facebook people to cryptocurrency sphere

Not really.If Facebook manages to bring in only 10% of it's user base into cryptocurrency that's a big achievement.Things just doesn't work like that.

Quote from: AliErkic on June 28, 2019, 09:03:40 PM

Libra is not real crypto,

Technically,Libra IS a cryptocurrency since by definition cryptocurrency just means a secure digital currency supported by a public ledger.

In my opinion,Libra project is a good event to happen.Let me explain my self.Today,there's a lot of people who FEAR cryptocurrency simply because there was too much hacks, stolen coins, extreme volatility and people lost a lot of money,this is the COST of decentralization.For these people,it is a great thing to have a centralized cryptocurrency that is practical and less risky than others like XRP or Libra.

Bttzed03

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Quote from: YoloBull on June 24, 2019, 05:18:58 PM

Should we, as the crypto community, boycott their effort?

Just ignore.

Quote from: YoloBull on June 24, 2019, 05:18:58 PM

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.

Since they officially announced the Libra coin, some major countries have already expressed their concern about the new coin. It appears that they have to use their wealth and influence to sway some people in the government and banks first.

kanmo

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I don't see any reason to boycott Facebook because its really going to an altcoin that will worth the investment of all and sundry in the crypto. I won't support any boycott because Facebook will bring in more investor and in a way encourage more adoption of cryptocurrency in the world.

Herbert2020

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Quote from: YoloBull on June 24, 2019, 05:18:58 PM

Facebook is the antithesis of everything Satoshi stood for.[/size]
Should we, as the crypto community, boycott their effort?

well why aren't you boycotting XRP, ETH, BCH, BSV, ... and hundreds of other shitcoins that are fully centralized and in many cases are seriously against everything Satoshi stood for? we can't have double standards. we either stick to certain principles or we don't. we can't choose to ignore it in some cases because it gives us profit (thanks to their pumps) and magnify the same flaws in something else that doesn't!

Topic: Should we boycott the Facebook Coin (Project Libra)? - page 7. (Read 4360 times)