Topic: US Congressman: Facebook Should Adopt Bitcoin, Drop Libra Project - page 3. (Read 1584 times)
October 31, 2019, 10:52:17 AM
Just a bunch of new innovations we don't much need. Either way it would be tough to have them in control over it. Besides small proportions of Facebook users are interested with crypto though they may use their platforms to introduce Libra. And in addition, they created Libra just because they Facebook cannot grasp bitcoin, I mean no one could. So there is no point of dropping their project just to adopt bitcoin.
October 31, 2019, 10:23:56 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).
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).
I was looking to see a quote or a link to the source of where the US congressman made the statement before your own opinion, but none of that is happening which makes the title of the thread misleading.
The major undoing to Facebook Libra is nothing other than control and it will be difficult to convince the general populace that its not going to happen. AliPay has its own payment system but even though there could be some collaboration with other global companies, its manageable. What Libra wants to go on with is massive and should it be successful, I see taking over from national currencies because as these companies cuts across borders, so also will Libra and that is the fear of majority of governments and its official has against Facebook. On whether they should adopt bitcoin instead, time will tell...
October 31, 2019, 07:27:01 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).
Facebook look hate with bitcoin with not allowed promote bitcoin on their social media, Facebook owner want to make their own coin become competitor for bitcoin and move all bitcoin investor become Libra investor. They working still not corresponding what he wants because Libra still not have permission from united state government to allowed Libra could publish to investor and public. 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).
October 31, 2019, 07:00:27 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).
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).
This is the article that tells that
https://www.forbes.com/sites/ktorpey/2019/10/16/us-congressman-facebook-should-adopt-bitcoin-drop-libra-project/
I don't think Facebook is going to do that, they have no control on it's supply and they will have to spend more, small companies or even individual can create their own token, so why not Facebook, they have the means and can hire top notch coders, they can create a chain that is much better than other chain creator, the congressman is quick to call Libra Coin a shitcoin, when in fact this shitcoin can create a disruption, other shitcoin in the market can't do that.
October 31, 2019, 06:09:43 AM
Should facebook adopt bitcoin? He really has a problem in his mind. Facebook created Libra primarily to create an ecosystem and make a lot of money from users' P2P transactions. but now the US government forces them to use bitcoin. This is really a trick of the US government for Libra and Facebook. If the situation continues like this, I believe that Libra will be no more.
October 31, 2019, 05:57:15 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).
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).
This is the article that tells that
https://www.forbes.com/sites/ktorpey/2019/10/16/us-congressman-facebook-should-adopt-bitcoin-drop-libra-project/
I don't think Facebook is going to do that, they have no control on it's supply and they will have to spend more, small companies or even individual can create their own token, so why not Facebook, they have the means and can hire top notch coders, they can create a chain that is much better than other chain creator, the congressman is quick to call Libra Coin a shitcoin, when in fact this shitcoin can create a disruption, other shitcoin in the market can't do that.
October 30, 2019, 05:30:31 PM
Don't they just adopt the blockchain system only for their Libra? So how can they adopt Bitcoins which have already become king in cryptocurrency?
It's good if Libra is thought to ripen by adopting an earlier and refined project to be a popular stablecoin in the future.
It's good if Libra is thought to ripen by adopting an earlier and refined project to be a popular stablecoin in the future.
October 30, 2019, 05:18:00 PM
Facebook is superior to their total members, libra will be accommodated very quickly. Other speculations like this won't change anything because Mark is famous for being tendentious with his own desires. Fb has an active trademark in the global trade exchange. It is impossible if they adopt something with a very unstable price then it will only make it collapse instantly, all global business people will also not agree if faced with the same situation.
October 30, 2019, 04:53:22 PM
That would make a lot of sense IF facebook would actually like to enable blockchain technology on their platform. But they just want to use the name, nothing more, their interests lie in making profit from currency they can control and monitor and this is why they want to make their own so called crypto.
Big companies wants to have control over their money and if they rely on bitcoin, its not possible for them to control it. If facebook really wants to create their own coin then they will do it despite of the pressure from their own government. Some big companies also planning to have their own coin and join the competition, maybe facebook can do that too. 
October 30, 2019, 04:36:02 PM
That would make a lot of sense IF facebook would actually like to enable blockchain technology on their platform. But they just want to use the name, nothing more, their interests lie in making profit from currency they can control and monitor and this is why they want to make their own so called crypto.
October 30, 2019, 03:57:40 PM
I like this congressman. BTC price would certainly will moon if facebook adopt BTC but then of course they are not gonna do it since BTC is too decentralize for facebook to handle. By the looks of it, Facebook is not going to give up Libra. They'd find a way to get on with their plans, they have spend money already for this project and if it means accepting both adopting both BTC and Libra they will probably agreed.
October 30, 2019, 02:45:16 PM
They want control over the cryptocurrency of course, but it's a burden just to make all those endeavours to create Libra and fight with the US Congress and regulators.. If you are after the greater good of the society why don't you just support the Bitcoin adoption? Maybe they don't have the same opinion regarding fiat money, that it is garbage inflationary currency centralized and controlled by governments, plus it has no instrinsic value besides the debt and support of the govt. We need to find ways to bring BTC to the people and personally once I find some free time I will definitely do that.
October 30, 2019, 02:14:27 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).
I don't agree, with Facebook adopting Bitcoin and abandoning it'a Libra project because Libra is it' s own platform, one that Facebook can exhibit some bit of control over. For one, Bitcoin is a proof of work coin that acts as a store of value. Bitcoin's price swings violently and this kind of volatility would cause consumers to panic and abandon the idea. Imagine their Libra coin values dropping just a few dollars, a mass panic would ensue! I don't believe it is suitable enough for consumer adoption. 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).
Libra is backed by low volatility assets meaning the price will stay relatively the same, something consumers who use Facebook's various social networks can stand by. They already have a fully developed platform backed by big names (not if they pull out). The only thing that is stopping their progress from mass adoption is congress. I don't think congress is ready for what mass adoption entails.
October 30, 2019, 10:50:15 AM
Who knows where this is going, I don't really think we need Libra to be honest.
I don't either, and OP it would be nice if you'd provide a link when making a thread that references some congressman's quote. I don't have a clue what you're referring to here.But hey, I think Libra will be useless and unnecessary--but that's only if it gets released, which I don't think it will. I don't think the world is itching for another cryptocurrency, much less a stablecoin branded by Facebook. That makes me want to stay far, far away from it. Not that I use FB anyway, so it doesn't matter for me but I'm well aware of how popular they are and how many people willingly give away their privacy to them. No doubt at least some of them would use Libra. Why, I have no idea, but they would.
Does anyone know what Libra is supposed to be used for? Is it for stuff like in-game purchases and the like or some other FB-related expenses? I don't know what they're charging members for, but I do know that they offer games and things. And frankly I don't see why crypto is necessary to pay for those things when fiat would work just as well.
Just one article, mentioning about the title of this thread.
https://www.forbes.com/sites/ktorpey/2019/10/24/this-us-congressman-thinks-bitcoin-will-have-enormous-value-and-utility-over-the-long-term/#cd88f1b278e1
We all know the ulterior motive why Libra is born, more profit from the FB team as JeffBrad12 already mentioned. And suggesting to use btc instead, I doubt they will accept such suggestion.
the point of facebook creating Libra is to generate profit out of it just like how all those stablecoins out there making their profit from every transaction it's such a nonsense for facebook to just adopt bitcoin it's basically the same as they are adopting other payment method like paypal into their system completely pointless.
The US feeling threatened because libra could potentially take advantage of their currency as reserve fund to go against their own into dominating the US economy even though it might just take up a little portion but a threat is a threat. The statement made above is just silly at best from the perspective of facebook as private company which seek profit.
The US feeling threatened because libra could potentially take advantage of their currency as reserve fund to go against their own into dominating the US economy even though it might just take up a little portion but a threat is a threat. The statement made above is just silly at best from the perspective of facebook as private company which seek profit.
October 30, 2019, 10:39:51 AM
the point of facebook creating Libra is to generate profit out of it just like how all those stablecoins out there making their profit from every transaction it's such a nonsense for facebook to just adopt bitcoin it's basically the same as they are adopting other payment method like paypal into their system completely pointless.
The US feeling threatened because libra could potentially take advantage of their currency as reserve fund to go against their own into dominating the US economy even though it might just take up a little portion but a threat is a threat. The statement made above is just silly at best from the perspective of facebook as private company which seek profit.
The US feeling threatened because libra could potentially take advantage of their currency as reserve fund to go against their own into dominating the US economy even though it might just take up a little portion but a threat is a threat. The statement made above is just silly at best from the perspective of facebook as private company which seek profit.
October 30, 2019, 10:38:54 AM
Who knows where this is going, I don't really think we need Libra to be honest.
I don't either, and OP it would be nice if you'd provide a link when making a thread that references some congressman's quote. I don't have a clue what you're referring to here.But hey, I think Libra will be useless and unnecessary--but that's only if it gets released, which I don't think it will. I don't think the world is itching for another cryptocurrency, much less a stablecoin branded by Facebook. That makes me want to stay far, far away from it. Not that I use FB anyway, so it doesn't matter for me but I'm well aware of how popular they are and how many people willingly give away their privacy to them. No doubt at least some of them would use Libra. Why, I have no idea, but they would.
Does anyone know what Libra is supposed to be used for? Is it for stuff like in-game purchases and the like or some other FB-related expenses? I don't know what they're charging members for, but I do know that they offer games and things. And frankly I don't see why crypto is necessary to pay for those things when fiat would work just as well.
October 30, 2019, 10:27:30 AM
Are you sure about what the congress said? in terms of profits, they will benefit more if they receive Libra. I'm actually not sure what the US is thinking but adopting bitcoin is beneficial for users. The problem is manipulation of the market by whales.
October 30, 2019, 09:19:39 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).
Facebook is aiming towards giving people an alternate form of monetary system for easy and instant transfer of money through mobile. By his statement, congressman meant that Facebook can go on adopting Bitcoin as a payment method which will achieve the same results that theya re trying to achieve through Libra. The only difference will be that Bitcoin is decentralized whereas Libra was centralized. But for the exact same reason they are letting Libra to be launched. So, I guess this is a bad suggestion. 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).
October 30, 2019, 09:15:34 AM
Facebook wants to build their own crypto empire no chance that they will adopt Bitcoin, for over 10 years existence of Bitcoin they already knew the potential of cryptocurrency. For big a company like Facebook I think they are willing to take risk and compete with existing industries no matter what cost.
This.
Also - I wonder if there is still a rivalry between Zuckerberg and the Winklevoss twins. Zukerberg stole their social media idea. Now he seems miffed they got into bitcoin at $8 a coin, and wants to kill their project with a coin of his own.
October 30, 2019, 09:13:33 AM
Facebook would never use someone else's product. If they see something they want, they either buy them out and take it over, or else they build their own version and drive the original into the dirt. They can't take over Bitcoin, and they can't destroy it either, so they will never use it. they are 100% set on building a competitor.
It's not just crypto they are competing with, Facebook's basic aim is to take over the world. I expect they are going after the US dollar as much as they are going after Bitcoin.
Same thoughts and come to think that they are big enough to do such gigantic moves.They are financially capable and when it comes to reputation and popularity then we do know It's not just crypto they are competing with, Facebook's basic aim is to take over the world. I expect they are going after the US dollar as much as they are going after Bitcoin.
on whats the standing of Facebook on it.They would surely create their own rather than on following others works or invention.They wont adopt Bitcoin for sure
but lets see if their minds would be changed up they saw that their project is not been supported if ever if it would launched.
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