What happened to libra coins | Bitcointalksearch.org

semobo

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Quote from: rodel caling on June 27, 2021, 07:27:41 PM

I remember before I rest for a while here in bitcoin.org because of some disappointment happened.I remember the libra coins.I thought that libra will be boom by the coming years.because I saw it that this coin was been popular because of facebook.and was been using already purchasing in internet online.but now what happened? Is libra now is gone?
Now I am right that no one can replace of bitcoin to be top in currency.who ever be who made again a new coin and launch it even of a very popular site or a person,I still believe no one will replace bitcoin...

The Libra project is on hold due to the regulatory issues but it will not be Libra anymore since the project already renamed as Diem in Dec 2020 and also they hired economic experts from one of the reputed banking sectors for the further development so they are not over yet and we may expect the project to hit the mainstream market in the next bullish season.

Mpamaegbu

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Mark Zuckerberg chickened out on the Libra dream, that's just the simple end truth of the whole matter. Otherwise he would've reengineered his programme and did the necessary paper work to come on strong even with negations from the EU and other bodies against the proposed token.

Quote from: fundacoin on June 30, 2021, 12:48:19 AM

I wouldn't trust Libra even if it was to come to market, just look at whats app? Anything with Zuckerberg involved would be dubious.

What makes you think that Zuckerberg is dubious? I find that a blanket statement that dovetailed into a fallacy of personality attack on his person, except there are evidence and pieces of information you have to nail him on that.

isaac_clarke22

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Quote from: bitkanu on June 29, 2021, 11:25:43 PM

~

It's been a while since I heard about that project.
Only heard it here mentioned along with Facebook, and I even mentioned back then that I had no intention of buying one due to how I am even concerned about my privacy when using Facebook.
Kind of surprised that it has now other name though.
I thought it was already dead.

fundacoin

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I wouldn't trust Libra even if it was to come to market, just look at whats app? Anything with Zuckerberg involved would be dubious.

Isn't blockchain supposed to be decentralized totally opposite to what Zuckerberg business models are all about ?

Libra or any Alt coin should be voted and controlled by the community not just one person

Reid

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I don't think Zuckerberg will just let it go.
He has a purpose, to make more money and Libra is the answer. He will surface the issue over and over until one senator will support it for the coin to be regulated.
As of now, there is no good news about it and they keep on putting it in the garbage but as time goes by and cryptocurrencies floating more on social media it will be like Ripple or Tether when passed.

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Quote from: TastyChillySauce00 on June 29, 2021, 10:04:02 PM

It sparks a lot of issue from the regulatory side, so many people opposes it and what I mean by people including politican and government higher ups maybe because it's coming from facebook and that could somehow shake the monetary system but we don't know for sure what's really holding it back meanwhile service like paypal accepting crypto just fine, maybe it has something to do with the concept of the libra project that probably deemed to be rather fishy or what, idk.

the news circulating is related to the regulation of libra itself. 2020 all the community was talking about this when Facebook announced it would launch their crypto soon. however, regulatory issues occurred and have been delayed until recently. whether this will continue or not we do not know.
I'm sure there are great people's interests there. because Facebook itself gets support from several big companies for their crypto libra project. of course, there will be a threat to the government in financial cases or whatever.

bitkanu

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It's alive. Libra already evolved as a platform that already offered a service for a company to generate the stable coin and this specialized to be working with the bankers.
I see that diem already started to issue the stable coin.

It's not yet gone. Libra has no intention to replace bitcoin and i think you must try to browse again about what motivation that already used to create libra. Facebook was interesting with stable coin service and that's why it was building libra aka diem

Kemarit

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Quote from: Bttzed03 on June 29, 2021, 10:25:17 PM

Quote from: Meta anggraini on June 29, 2021, 07:41:31 PM

Quote from: Bttzed03 on June 28, 2021, 03:41:42 AM

Quote from: rodel caling on June 27, 2021, 07:27:41 PM

~ I thought that libra will be boom by the coming years.because I saw it that this coin was been popular because of facebook.and was been using already purchasing in internet online.but now what happened? Is libra now is gone?

Libra had a lot of regulatory issues and many of their partners withdrew. The companies who still support the project decided to rebrand it to Diem but I'm not updated about Diem's status now. It seems they are still dealing with the same problem with authorities.

I think its a really big project since its have to deals with authorities, they wont get in trouble in the future so its need to be prepared.
Or it is just to create the momentum of hypes?

It seems you're not really familiar with Libra's case. Try to go back and read previous articles before saying they won't get into trouble. Come back here and tell me again what you think (although I'm not expecting you would do that).

Agree, it's over for Libra now, maybe we can see another Facebook crypto, but it's going to be difficult for them. They are so powerful that government around the globe are afraid of Mark so they have to cut it off last year i I'm not mistaken.

The best thing for Facebook is to really adopt Bitcoin, for sure it will be easy for them, but they seems to have a anti-bitcoin sentiments.

Bttzed03

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Quote from: Meta anggraini on June 29, 2021, 07:41:31 PM

Quote from: Bttzed03 on June 28, 2021, 03:41:42 AM

Quote from: rodel caling on June 27, 2021, 07:27:41 PM

~ I thought that libra will be boom by the coming years.because I saw it that this coin was been popular because of facebook.and was been using already purchasing in internet online.but now what happened? Is libra now is gone?

Libra had a lot of regulatory issues and many of their partners withdrew. The companies who still support the project decided to rebrand it to Diem but I'm not updated about Diem's status now. It seems they are still dealing with the same problem with authorities.

I think its a really big project since its have to deals with authorities, they wont get in trouble in the future so its need to be prepared.
Or it is just to create the momentum of hypes?

It seems you're not really familiar with Libra's case. Try to go back and read previous articles before saying they won't get into trouble. Come back here and tell me again what you think (although I'm not expecting you would do that).

TastyChillySauce00

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It sparks a lot of issue from the regulatory side, so many people opposes it and what I mean by people including politican and government higher ups maybe because it's coming from facebook and that could somehow shake the monetary system but we don't know for sure what's really holding it back meanwhile service like paypal accepting crypto just fine, maybe it has something to do with the concept of the libra project that probably deemed to be rather fishy or what, idk.

blockman

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It was stopped due to cases that the Facebook management has to face on the court/senate. They've rebranded it from Libra to Diem. I don't think that they're near to the announcement that they're going to have their own token being backed up by Facebook itself.
But they can easily do that because they've got the most users and they can take advantage of it and create a huge community using their own stable coin. They don't aim to replace bitcoin because it's just a stable coin and I think that even Mark Zuckerberg knows about it.

Meta anggraini

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Quote from: Bttzed03 on June 28, 2021, 03:41:42 AM

Quote from: rodel caling on June 27, 2021, 07:27:41 PM

~ I thought that libra will be boom by the coming years.because I saw it that this coin was been popular because of facebook.and was been using already purchasing in internet online.but now what happened? Is libra now is gone?

Libra had a lot of regulatory issues and many of their partners withdrew. The companies who still support the project decided to rebrand it to Diem but I'm not updated about Diem's status now. It seems they are still dealing with the same problem with authorities.

I think its a really big project since its have to deals with authorities, they wont get in trouble in the future so its need to be prepared.
Or it is just to create the momentum of hypes?

slaman29

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Quote from: asriloni on June 28, 2021, 10:07:55 AM

Libracoin, diem, whatever it's called. It's just paypal with blockchain.

Yeah i know that but he was asking whether libra is still alive or it already gone due to the legal problem with the US regulators. the creation of diem coin got inspired by how fast the growth of the stable coin in the cryptocurrency and diem already offered its service for some banks. We can't deny that if this potentially helping the adoption of crypto just like when paypal was adopting crypto
[/quote]

I suppose as long as something that already has tons of users like Paypal adopts Bitcoin AND it is because of demand (in which case it was) then yeah, it's a good thing.

I think we can forgive that these are centralized and that they don't even have real Bitcoin but its as you say. Recognition for the asset and the technology.

asriloni

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Quote from: slaman29 on June 28, 2021, 08:32:13 AM

Quote from: asriloni on June 28, 2021, 03:51:04 AM

Libra has the different purpose with bitcoin and it was working on the different field and it will not disrupt bitcoin but it will be potentially disrupting the domination that already created by the stable coin like tether.

Libra is not yet gone but it's getting rebranded into the new name called diem

All stablecoins and especially all corporate based coins in control of the blockchain and issuance will always have a different purpose than Bitcoin. Simply being similar as a digital p2p form of money isn't equal when you consider that every other aspect is not in the hands of the masses (control, especially).

Libracoin, diem, whatever it's called. It's just paypal with blockchain.

Yeah i know that but he was asking whether libra is still alive or it already gone due to the legal problem with the US regulators. the creation of diem coin got inspired by how fast the growth of the stable coin in the cryptocurrency and diem already offered its service for some banks. We can't deny that if this potentially helping the adoption of crypto just like when paypal was adopting crypto

Argoo

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The stablecoin has not been issued yet, therefore it was impossible to buy it. The launch of the Libra / Diem stablecoin has been delayed for so long that market participants have already begun to forget about it. There used to be a lot of buzz around it, but it got a lot of regulatory attention, after which Libra started endless problems. Regulators and even individual states began to fear its significant impact due to certain interactions with the social network Facebook. Zuckerberg even at a hearing in the US Senate promised that this coin would not be associated with his Facebook. However, that didn't help much either. Then he decided to leave the regulators, registering in Switzerland under the new name Diem. However, this did not succeed here either, since it turned out that the cryptocurrency company of the same name had existed in England for some time. In the meantime, we look forward to further adventures with this as yet unreleased coin.

Jating

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Quote from: rodel caling on June 27, 2021, 07:27:41 PM

I remember before I rest for a while here in bitcoin.org because of some disappointment happened.I remember the libra coins.I thought that libra will be boom by the coming years.because I saw it that this coin was been popular because of facebook.and was been using already purchasing in internet online.but now what happened? Is libra now is gone?
Now I am right that no one can replace of bitcoin to be top in currency.who ever be who made again a new coin and launch it even of a very popular site or a person,I still believe no one will replace bitcoin...

Yes, it's gone, the project has been scraped because of too much pressure from the regulatory commissions around the globe, specially EU and US. So Mark Z, decided to not pursue it. I have to disagree though that it was popular, we haven't seen it so obviously we don't know, lots of what's if.

Yes, so far bitcoin will remain the dominant crypto, regardless of its flaws (slow confirmation time, high transactions fees). There are alts coins, but majority of crypto investors still prefer BTC.

slaman29

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Quote from: asriloni on June 28, 2021, 03:51:04 AM

Libra has the different purpose with bitcoin and it was working on the different field and it will not disrupt bitcoin but it will be potentially disrupting the domination that already created by the stable coin like tether.

Libra is not yet gone but it's getting rebranded into the new name called diem

All stablecoins and especially all corporate based coins in control of the blockchain and issuance will always have a different purpose than Bitcoin. Simply being similar as a digital p2p form of money isn't equal when you consider that every other aspect is not in the hands of the masses (control, especially).

Libracoin, diem, whatever it's called. It's just paypal with blockchain.

asriloni

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Libra has the different purpose with bitcoin and it was working on the different field and it will not disrupt bitcoin but it will be potentially disrupting the domination that already created by the stable coin like tether.

Libra is not yet gone but it's getting rebranded into the new name called diem

you can also see the latest news about diem through this link https://cointelegraph.com/tags/libra

There's no new coin that can replace btc

Bttzed03

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Quote from: rodel caling on June 27, 2021, 07:27:41 PM

~ I thought that libra will be boom by the coming years.because I saw it that this coin was been popular because of facebook.and was been using already purchasing in internet online.but now what happened? Is libra now is gone?

Libra had a lot of regulatory issues and many of their partners withdrew. The companies who still support the project decided to rebrand it to Diem but I'm not updated about Diem's status now. It seems they are still dealing with the same problem with authorities.

rodel caling

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I remember before I rest for a while here in bitcoin.org because of some disappointment happened.I remember the libra coins.I thought that libra will be boom by the coming years.because I saw it that this coin was been popular because of facebook.and was been using already purchasing in internet online.but now what happened? Is libra now is gone?
Now I am right that no one can replace of bitcoin to be top in currency.who ever be who made again a new coin and launch it even of a very popular site or a person,I still believe no one will replace bitcoin...

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