Can you link which congressman mentioned this? Personally I don't think Bitcoin is the best crypto for the purpose that Libra was being created. It's not exactly fast which is what most people want went doing purchases in these platforms.
I'd rather use a credit card than use Libra. Works good enough for my needs.
Topic: US Congressman: Facebook Should Adopt Bitcoin, Drop Libra Project - page 2. (Read 1561 times)
November 01, 2019, 09:53:00 AM
November 01, 2019, 09:47:22 AM
This is interesting.
The fact that a boycott of the Libra project creates a situation in which Bitcoin looks even more profitable.
This is wonderful because it has a good effect on the mass adaptation of cryptocurrencies, and also improves the attitude of ordinary people to bitcoin, increasing confidence in it.
It is not surprising that Libra is so heavily pinched because the project may become something that will change the rules of the game and its attitude to the dollar system.
Even if Libra comes out, it will come out under the dollar flag.
The fact that a boycott of the Libra project creates a situation in which Bitcoin looks even more profitable.
This is wonderful because it has a good effect on the mass adaptation of cryptocurrencies, and also improves the attitude of ordinary people to bitcoin, increasing confidence in it.
It is not surprising that Libra is so heavily pinched because the project may become something that will change the rules of the game and its attitude to the dollar system.
Even if Libra comes out, it will come out under the dollar flag.
November 01, 2019, 07:42:13 AM
I don't think it's Bitcoin that they should be adopting at all. It's slow and Facebook will want some sort of control over it, with Bitcoin, they can't.
We've seen one of the Facebook blockchain devs (David Wong) singing Algorand's praises in recent weeks (not to mention interest amongst top banks too), maybe exploring their tech could be the way forward...
Who knows where this is going, I don't really think we need Libra to be honest. There's plenty of other platforms that make more sense and have already established a footing in the DeFi space (Algorand mentioned above, Ethereum/MakerDAO obviously).
How long Facebook Libra coin will playing their drama with delay to open coin for public? when the first time announce to public become very fantastic coin at the future right now Libra or Facebook coin make joke with playing their drama, only running on the same place without have progress how far their coin have input to public and when solid time the Libra or Facebook coin can invest by investor. We've seen one of the Facebook blockchain devs (David Wong) singing Algorand's praises in recent weeks (not to mention interest amongst top banks too), maybe exploring their tech could be the way forward...
Who knows where this is going, I don't really think we need Libra to be honest. There's plenty of other platforms that make more sense and have already established a footing in the DeFi space (Algorand mentioned above, Ethereum/MakerDAO obviously).
November 01, 2019, 07:10:29 AM
facebook is a company , a business and does not really differ from other businesses like banks and governments . all of them have the same kind of mindset that they want to control btc but they cant just make happen so easily so they find other way . they create projects like this and that to make more profit and they have the full control over it . so why would they still adopt btc when they can adopt libra ? but libra project is really continued ? i thought its over
November 01, 2019, 06:55:07 AM
It's not necessary for Facebook to adopt bitcoin actually. It's already successful even without cryptocurrency, whether Libra or Bitcoin. Though it's still up to the creator whether they're going to drop Libra or just continue and push that project. Libra didn't become that successful compare to what's expected. Even with that, they won't adopt bitcoin, because if they did, they just showed that Libra failed.
November 01, 2019, 12:40:28 AM
Remember how some months ago Trump bashed both Bitcoin and Libra in his tweets, and people were worried that Libra attracted negative attention towards Bitcoin? And look now, the opposite is happening - the Congress praises Bitcoin and tells Zuckerberg that Libra should be more like it. It would be extremely ironic if an invasive, power-hungry company called Facebook would become the reason why governments would warm up towards Bitcoin.
It's adding popularity to this project. Libra being a crypto currency will be associated with Bitcoin, with that previous stand from the congress it can also be possible that they are now chilling around and working for any possibilities that this project will push thru. Mark's project is on the process there's still a lot of work and talk regarding to any possibilities of getting legalized.But it's opening the door of crypto approval, not limited to Bitcoin or Libra but also those coins that have a useful platform to serve the needs of being a payment process alternatives.
November 01, 2019, 12:33:05 AM
in my opinion facebook won't adopt bitcoin. because they are different libra coins are stable money coins and later these coins will be controlled by facebook. whereas decentralized bitcoin no one controls and already has a large volume of trade and community. so I don't think Facebook will take over bitcoin. I'm sure Facebook will try hard to make the Libra project successful and will become a competitor of bitcoin. but I'm optimistic that bitcoin is still superior to libra.
October 31, 2019, 11:38:48 PM
I don't think it's Bitcoin that they should be adopting at all. It's slow and Facebook will want some sort of control over it, with Bitcoin, they can't.
We've seen one of the Facebook blockchain devs (David Wong) singing Algorand's praises in recent weeks (not to mention interest amongst top banks too), maybe exploring their tech could be the way forward...
Who knows where this is going, I don't really think we need Libra to be honest. There's plenty of other platforms that make more sense and have already established a footing in the DeFi space (Algorand mentioned above, Ethereum/MakerDAO obviously).
We've seen one of the Facebook blockchain devs (David Wong) singing Algorand's praises in recent weeks (not to mention interest amongst top banks too), maybe exploring their tech could be the way forward...
Who knows where this is going, I don't really think we need Libra to be honest. There's plenty of other platforms that make more sense and have already established a footing in the DeFi space (Algorand mentioned above, Ethereum/MakerDAO obviously).
Well , you stated the obvious. Facebook as a popular company and with strong backers, why would they use a cryptocurrency that I do not control? Why would they spend millions of dollar when they can just create a better one with just a hundred dollar? In a businessman's mind, creating an owned currency will not only save them from huge expenses but will also give them a huge amount of money.
October 31, 2019, 11:17:37 PM
It could have been much easier if you had provided the link. Anyway, I was able to find it:
https://www.forbes.com/sites/ktorpey/2019/10/16/us-congressman-facebook-should-adopt-bitcoin-drop-libra-project/#3a73644f16b2
It was the Republican Congressman Warren Davidson who made that statement. He represents Ohio's 8th congressional district. Davidson had earlier termed Libra as a "Shitcoin". He is having some pretty valid questions about Libra. For example, check this:
And this is what he said about Bitcoin:
According to him, Libra is a centralized asset, as the central authority (Facebook?) will be able to manipulate its value. Bitcoin is decentralized, as something like that can never be done to it.
https://www.forbes.com/sites/ktorpey/2019/10/16/us-congressman-facebook-should-adopt-bitcoin-drop-libra-project/#3a73644f16b2
It was the Republican Congressman Warren Davidson who made that statement. He represents Ohio's 8th congressional district. Davidson had earlier termed Libra as a "Shitcoin". He is having some pretty valid questions about Libra. For example, check this:
Quote
“If that central authority is able to manipulate the value of [Libra], how do you not treat it as a security?” Davidson rhetorically asked Goldstein and Rochard during the podcast interview. Once the conversation turned more directly onto Facebook’s Libra currency, Davidson let it be known that his main issues with the project revolve around the degree of centralization involved with it. The congressman claimed it’s clear Libra would be regulated as a security if it were ever to launch due to the fact that the entity or group in control of the network could make changes to the currency that would affect its exchange rate. For example, Libra holders could be harmed financially if it was decided that a much weaker currency, such as the Venezuelan bolivar, should be added to Libra’s fiat currency reserves.
And this is what he said about Bitcoin:
Quote
“I hope they try it because it’d be a way better idea than Libra,” Davidson responded.
According to him, Libra is a centralized asset, as the central authority (Facebook?) will be able to manipulate its value. Bitcoin is decentralized, as something like that can never be done to it.
October 31, 2019, 10:15:04 PM
Remember how some months ago Trump bashed both Bitcoin and Libra in his tweets, and people were worried that Libra attracted negative attention towards Bitcoin? And look now, the opposite is happening - the Congress praises Bitcoin and tells Zuckerberg that Libra should be more like it. It would be extremely ironic if an invasive, power-hungry company called Facebook would become the reason why governments would warm up towards Bitcoin.
October 31, 2019, 05:55:58 PM
No links?
Here, I will help you out.
https://www.forbes.com/sites/ktorpey/2019/10/16/us-congressman-facebook-should-adopt-bitcoin-drop-libra-project/#5228fa3916b2
Next time complete it please.
This kind of adoption should have been happening even before.
Why do they keep on creating their own coin.
Why not absorb bitcoin into their usage for merchandise or even as payment option. It just sucks to see a lot of crypto currencies are being listed.
Bitcoin offered so much good but yet not enough?
We've got more than 3000 cryptocurrencies. Each were backed by different platforms and were designed to meet various requirements of the common people. Looking upon the same Facebook plans to make everything happen through them. As they're known to the world and consists of huge users it is easy for them to reach people with new additions. The same is happening with libra, already it is being fulfilled by bitcoin through the decentralized system. Now Facebook tends to keep everything under their control. Here, I will help you out.
https://www.forbes.com/sites/ktorpey/2019/10/16/us-congressman-facebook-should-adopt-bitcoin-drop-libra-project/#5228fa3916b2
Next time complete it please.
This kind of adoption should have been happening even before.
Why do they keep on creating their own coin.
Why not absorb bitcoin into their usage for merchandise or even as payment option. It just sucks to see a lot of crypto currencies are being listed.
Bitcoin offered so much good but yet not enough?
October 31, 2019, 05:15:44 PM
No links?
Here, I will help you out.
https://www.forbes.com/sites/ktorpey/2019/10/16/us-congressman-facebook-should-adopt-bitcoin-drop-libra-project/#5228fa3916b2
Next time complete it please.
This kind of adoption should have been happening even before.
Why do they keep on creating their own coin.
Why not absorb bitcoin into their usage for merchandise or even as payment option. It just sucks to see a lot of crypto currencies are being listed.
Bitcoin offered so much good but yet not enough?
Here, I will help you out.
https://www.forbes.com/sites/ktorpey/2019/10/16/us-congressman-facebook-should-adopt-bitcoin-drop-libra-project/#5228fa3916b2
Next time complete it please.
This kind of adoption should have been happening even before.
Why do they keep on creating their own coin.
Why not absorb bitcoin into their usage for merchandise or even as payment option. It just sucks to see a lot of crypto currencies are being listed.
Bitcoin offered so much good but yet not enough?
October 31, 2019, 04:11:56 PM
In any case, Facebook has no other choice. If Facebook wants to implement its project, then this project will be either with Bitcoin or this project will not exist at all. I think this statement by the US government is an ultimatum and a real warning to the Libra development team.
Facebook supports libra with great confidence, but this project is not in a body that can not be separated. Mark still seems to be pulling out if it's really not allowed.The question is if finally libra is taken by a platform that is more friendly to regulations, then this will be a big loss for the government who rejects it. But I feel this will still continue until the agreement, and the statement is not like an ultimatum, but still in a bargaining position.
October 31, 2019, 04:00:23 PM
I don't think it's Bitcoin that they should be adopting at all. It's slow and Facebook will want some sort of control over it, with Bitcoin, they can't.
We've seen one of the Facebook blockchain devs (David Wong) singing Algorand's praises in recent weeks (not to mention interest amongst top banks too), maybe exploring their tech could be the way forward...
Who knows where this is going, I don't really think we need Libra to be honest. There's plenty of other platforms that make more sense and have already established a footing in the DeFi space (Algorand mentioned above, Ethereum/MakerDAO obviously).
If they have found that challenge in bitcoin, why don’t they all come together as a techy guys to run minds together on how they can make the speed of bitcoin to increase, just like some genius came up with the lightning network which has assisted bitcoin to an extent, if they keep coming up with different project, the market will be too saturated without much focus. We've seen one of the Facebook blockchain devs (David Wong) singing Algorand's praises in recent weeks (not to mention interest amongst top banks too), maybe exploring their tech could be the way forward...
Who knows where this is going, I don't really think we need Libra to be honest. There's plenty of other platforms that make more sense and have already established a footing in the DeFi space (Algorand mentioned above, Ethereum/MakerDAO obviously).
Facebook is thinking of their own Libra, other countries too is thinking of their own cryptocurrency also as we may see in the case of china, and some other countries that their proposal is along the way, so if you ask me, all those coin, where is the population to use them for one common goal. Bitcoin is slow, but then it can be made faster with some other ideas, and not diversifying again into these altcoins.
October 31, 2019, 03:20:54 PM
In any case, Facebook has no other choice. If Facebook wants to implement its project, then this project will be either with Bitcoin or this project will not exist at all. I think this statement by the US government is an ultimatum and a real warning to the Libra development team.
October 31, 2019, 02:52:50 PM
To my opinion in this case Facebook doesn't care too much what some congressman is saying. Facebook investet too much efforts and capacities into Libra to give up that easily, no matter that it hasn't made the success it was expected. So I expect that Facebook will try to save Libra no matter what and adopting Bitcoin is under very big questionmark.
October 31, 2019, 02:32:59 PM
States have protectionist mentalities towards fiat currency monopolies they own & operate. They last thing a government wants is free market competition from tech giants like facebook forcing them to be more innovative, professional and proactive in their approach.
I still think facebook introducing libra would provide consumers with more options and force the US government to do a better job addressing the deficit and regulating inflation. Its a step in the right direction.
If our goal is to encourage governments around the world to take deficits and hyperinflation seriously, there may be no better option to achieve this than to set facebook's libra loose on the world, and hope the self correcting nature of free markets takes hold.
I still think facebook introducing libra would provide consumers with more options and force the US government to do a better job addressing the deficit and regulating inflation. Its a step in the right direction.
If our goal is to encourage governments around the world to take deficits and hyperinflation seriously, there may be no better option to achieve this than to set facebook's libra loose on the world, and hope the self correcting nature of free markets takes hold.
October 31, 2019, 02:22:25 PM
Facebook should adopt none payment method, maybe it will be better to see social network with really a lot of opportunities, even with one which will let us easy transactions but at first facebook is something that we can't and won't trust in this case. A website that doesn't care about our privacy, how can that be trusted with payments? After our emotions and expressions, thoughts shared on facebook, they also want to know how we spend our money which is double win for them but in overall not good for us.
So at some point I agree with you, we don't need Libra. It's nothing special, no, even worse.
So at some point I agree with you, we don't need Libra. It's nothing special, no, even worse.
October 31, 2019, 02:09:10 PM
I don’t think that the creator of Facebook will abandon the idea of his own cryptocurrency and agree to accept bitcoins, since a lot of effort and money has already been invested in Libra, because its development has been ongoing for almost two years. And he will continue to look for options for its launch, although it will not be easy for him.
October 31, 2019, 11:59:48 AM
Facebook wants to have libra as their own cryptocurrency so they will have the full control of it, unlike Bitcoin. If they would want to adopt Bitcoin then they should have done it before. What they really want is a coin which they could manipulate. The problem is, it's hard for them to gain the trust of most investors because most of them are into Bitcoin. However, it doesn't have any negative effect on Bitcoin. It's standing firm despite the existence of Facebook coin.
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