Topic: Why Do Crypto Enthusiasts Hate Facebook Coin? (Read 715 times)

Those main reason probably was that it is centralize, and many community in the entire world are not deeply mature in crytpo or blockchain technology, all they know was they one of the subscribers of Facebook but they're not aware about the difference between centralize and decentralized system in terms of cryptocurrency.

Agree, even many investors are looking forward to the launch of Libra Coin because many will surely use it. With the number of members reaching billions, Libra Coin's chances of success are very large and also Facebook members can transact between members quickly and cheaply

I prefer Libra Coin compared to XRP. But I think no one hates Libra Coin and can even be said to be enthusiastic because with the Libra Coin, the adoption of cryptocurrency will be faster

Says who? Who they hell loves ripple, for the fact that you see ripple on that top doesn’t mean it is because of people’s love for it, in fact ripple team must have been a very strong one that they are still surviving despite all the stones thrown at them almost everywhere. People don’t like appreciate anything that is fully centered on centralization again.

Most of the coins that are centralized in nature are being hated because they are already going out of the reason why cryptocurrency was created and Facebook is not exceptional of this also, people will use Facebook quite alright, but would not be as a result of their love for it, since it is going to be more like a centralized token too which may be competing so much with ripple.

not everyone hates facebook coin, many of them are still waiting for the facebook coin to be launched, so I think this is a normal thing if anyone likes and there are those who don't like new coins.

I don't know about these people, but for me, it's just ok and alright for Facebook coin to launch their own coin and to pick and create their own roadmap and platform, some years ago there is a lot of speculation that Facebook is going to have their own coin and now it's happening, people just welcome what eventually going to happen.

Yes, that is a bad past that I still remember that Facebook once banned Cryptocurrency ads on its Facebook, and at that time I really hated it too, but we must forget the past, we see that Facebook will increase the price of Bitcoin again by joining cyptocurrency this time.

How can you love XRP
Almost nobody loves XRP here 

General speaking, we don't aprove facebook policies, how they get your info and sell them

The main problem with libra coin once it is operational is the privacy of those individuals that will use this stable coin. If they are collecting data from all your expenses or coin movements, basically, they know your everyday pattern. And you don't know where those data will end up to? Is FB team really a trusted group? If you are an active fb user, for sure they know most of your life already.

OP's provided link has 0 comment so there's no people hating on Libra there 

There will be always a hater/s on everything and Libra Coin is no exemption but I see more of a good side on it rather than the bad because it will expose the idea of cryptocurrency to those people who are less knowledgable about it and with that Bitcoin and other altcoins will benefit from it too.

XRP and other centralized cryptocurrency was there for a long time then why we would hate Libra coin?

**EDIT - seeking to get this discussion further I have copied and pasted it to make a new topic.

https://bitcointalksearch.org/topic/libra-strategy-for-world-domination-5159302

I don't think that people hate Libra, I think they are worried, maybe even afraid?

Lets think about the facts:
- Facebook has 1/3 of the world as its user base (2.4 billion users)
- Libra coin will be very easily accessible to all of facebooks users
- Libra coin will be a stable coin, price will not fluctuate providing users in 3rd world countries with a medium to store their wealth.


There are already countries (like venezuela) where a national financial crisis caused fiat money to lose all worth. In desperation people are moving their life savings to bitcoin... Considering that bitcoin is a hard resource for the average person to use, imagine how quick adoption of Libra will be. Libra will be available to use on every cheap smartphone. Developed by Facebook it is sure to be a very user friendly experience, everyone will be able to use Libra. People will use it like real money in every possible way through things like facebook messenger, online shops, international transfers, peer to peer transfers...

Facebook has penetrated our lives in almost all possible ways; relationships, news, entertainment, social gatherings, advertising... the list goes on. The only thing facebook still doesn't have control over is our money. Here comes Libra...  

The snowball is rolling, it can not be stopped.

Imagine the world in 20, maybe 50 years.

With the addition of Libra, and a very smart plan for user adoption Facebook can rise to a position of such great power, that it will be in control of the whole world.

Nobody hates Facebook coin
Neither is there s hate campaign against it

Truth remains that with the level of privacy and data in fb csre; a coin would expose the anonymity of crypto currency

Personally I hate the fact that Facebook once banned the promotion of bitcoin and other cryptocurrencies on their platform and therefore bringing the entire crypto space to disrepute, coming back to establish something in the same space is shear hypocrisy

Because it is not a crypto currency, as they stated already. Libra coin is another centralised payment method, based on blockchain but this is it. Nothing more familiar with crypto currencies industry and it would be strange if Libra would be called a crypto currency.

No one pushes people to invest in Libra and share their data. I guess Libra is not loved for many other reasons. Although it will be not real crypto, Libra can compete with the best altcoins and even Bitcoin as the currency for online operations. It will be a global stable coin, which should open the doors to the world of financial services for more than a billion people around the world who cannot receive these services from banks.

I think not only facebook coin, but a lot of coins might be have hater. Maybe want to get cheap coin or anything else is the reasons. If me, my opinion is because facebook already have problem with their user's data, and it can make bad thing for user itself. Only opinion actually.

As a social media site all will love Facebook as a good company to use but to you have them for decentralized market will never work. Because Facebook is a centralised business company they will not be fit for decentralized market.
I don't know how many people looking to invest on a Libra coin when the release them in the marketplace but personally I will not prefer that coin for investment.

I cannot make any statement about this Libra coin. I only monitor the development of this coin in the future. because if Libra has good products and management, it is possible that this coin will be very advanced. then, don't make excessive statements about this coin.

Point is that true crypto enthusiasts hate both xrp and facebook coin(libra) because of centralization.
As for me I libra has no interest, because it is stable coin and I can't gain on it. + they have all data about my personality and payments= lack of anonymity

actually I and everyone in this community don't hate it. Libra is good for accelerating mass adoption. but centralized is unacceptable. look at ripple, the coin is too much trouble because of this. XRP has never been separated from manipulation rumors and others.