Will Facebook’s Libra Coin be a Game Changer in Crypto Ecosystem

ck343

jr. member

Activity: 108

Merit: 1

All this sounds very tempting, but will the banking giants allow it to happen?

Good question
This is something that struck me too: among the members of the Libra Association there are no megabanks.
JP Morgan, Goldman Sachs etc., they are all developing their own Stablecoins

katerina5643

newbie

Activity: 56

Merit: 0

hey , everyone. recently i have found an interesting thread regarding this discussion. You can check it following the link.

TinaK

hero member

Activity: 1106

Merit: 527

So OP you are believing this centralized market company is going to change the complete crypto ecosystem! Naah... I will never believe any centralized cryptocurrencies first of all and then they are not worth to invest and make a long term profit.
These centralized cryptos will not give the way to sell their coins as our wish. Team and exchanges controls will be there in their terms and condition itself.
Let's see when it comes to the market, how it is will be reliable for us.

Saisher

full member

Activity: 2324

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Quote from: Elena_Rodriguez on June 19, 2019, 03:20:27 AM

The social media giant, Facebook has finally revealed the details of its cryptocurrency Libra. Today the platform released its white paper explaining Libra & its testnet before a public launch in the Q1 of 2020.

Additionally, the new Libra coin will allow users to purchase things at local exchange points like grocery stores. Also, enables users to spend it using third-party wallet apps or its own Calibra wallet that will be built on WhatsApp, Messenger, & its own app. The best part is that you can transfer money to people with nearly zero fees.

“Libra’s mission is to enable a simple global currency and financial infrastructure that empowers billions of people.”

Read the complete White Paper of Libra coin

That would be a huge milestone if they able to do that what other coins have failed to do, the Facebook coin can make all the big difference in the name of adoption, they have the funding, the resources can tap the best people, had the marketing platform, if they fail, what else can.

katerina5643

newbie

Activity: 56

Merit: 0

tbh its a very controversial news. on the one hand Global coin will be really easy to get, retain & use it. But on the other hand we dont know exactly about its safety and real purpose.
however, it seems to be good payment system.also u can read more information here https://finance.yahoo.com/news/facebook-inc-fb-wants-more-220415665.html

dat.ho12492

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Activity: 378

Merit: 1

Quote from: XCANA on June 21, 2019, 09:08:20 AM

Quote from: Leh-Meh on June 19, 2019, 02:12:13 PM

Quote from: XCANA on June 19, 2019, 01:51:01 PM

Facebook has no credibility mate, they are fond of selling out users data to the buyers(either the government or to other individuals for use), the government are just trying to infiltrate into the world of cryptocurrency and they think that, thorough facebook they can hit the whole world

Facebook Libra will be a failure. Learn from former billionaire Anil Ambani. All the hype created by those MBAs and CAs for nonsense. Bitcoin has also run into trouble in many big coutnries.

Hey mate, let me remember you of the biggest social media which is facebook.com and they are up to something good for the crypto-world. Not saying that, they will be above Ethereum not to of Bitcoin but they will help adoption of Blockchain and Bitcoin to the entire masses. But remember that, their token is centralize and it can be measure by ripple.

What facebook is doing and expressing is really special when they start public, apply crypto and bitcoin-related technologies and issues to the community, from an objective perspective, this is a good event for this field. But with a strong publicity with such a large scope, the government's attention will probably go to the crypto world, perhaps the rule and everything in this game will begin to change when the emergence of libra coin marks government intervention in crypto.

XCANA

full member

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Quote from: Leh-Meh on June 19, 2019, 02:12:13 PM

Quote from: XCANA on June 19, 2019, 01:51:01 PM

Facebook has no credibility mate, they are fond of selling out users data to the buyers(either the government or to other individuals for use), the government are just trying to infiltrate into the world of cryptocurrency and they think that, thorough facebook they can hit the whole world

Facebook Libra will be a failure. Learn from former billionaire Anil Ambani. All the hype created by those MBAs and CAs for nonsense. Bitcoin has also run into trouble in many big coutnries.

Hey mate, let me remember you of the biggest social media which is facebook.com and they are up to something good for the crypto-world. Not saying that, they will be above Ethereum not to of Bitcoin but they will help adoption of Blockchain and Bitcoin to the entire masses. But remember that, their token is centralize and it can be measure by ripple.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: rmilly on June 19, 2019, 03:26:38 PM

It will absolutely change the ecosystem and the way all cryptocurrencies will be like moving forward. Especially the regulations and compliance. Ciphertrace cyber security brought up how their wallet Calibra will require users to go through an intensive AML and KYC process which just means this will have regulators watching closely with that large of user base

You don't need to look further as US is going to give Libra coin a hard time -> https://www.coindesk.com/facebook-has-yet-to-answer-us-lawmakers-questions-about-libra-crypto. So just imagine the pressure that Mark Z. is feeling right now. Not again, the company has been fined already and now they are questioning everything again. I'm sure that when the congressional hearing starts, it will be the same over and over again, questions about privacy and data security will be raised.

Ridwan Fauzi

full member

Activity: 1330

Merit: 147

I guess not for cryptocurrency but this will be a game changer for money fiat. If I read the whitepaper that's pointed out facebook made a coin just not for payment system on digital area but they will change a bank traditional with their system. This is no threat for cryptocurrency such as bitcoin, bitcoin will be use as an investment placr actually. I'll agree if bitcoin to be use as payment system then it's still not feasible especially for the fees things. For some people who has a little amount of bitcoin then will use it for investment place only because if they use for payment system they will think about fees that will spend.

Payme21

jr. member

Activity: 252

Merit: 1

Its most definitely going to be a game changer if their white paper can be implemented to the last but the problem here is that, are there plans to solve unforseen opposition

klaaas

hero member

Activity: 1568

Merit: 544

Quote from: rmilly on June 19, 2019, 03:26:38 PM

It will absolutely change the ecosystem and the way all cryptocurrencies will be like moving forward.

That is crazy. No way facebook have made some miracle here we have never seen. Just a tracking tool that will profit the mega rich.

rmilly

jr. member

Activity: 312

Merit: 1

It will absolutely change the ecosystem and the way all cryptocurrencies will be like moving forward. Especially the regulations and compliance. Ciphertrace cyber security brought up how their wallet Calibra will require users to go through an intensive AML and KYC process which just means this will have regulators watching closely with that large of user base

Leh-Meh

jr. member

Activity: 42

Merit: 2

Quote from: Bardman on June 19, 2019, 02:34:32 PM

I doubt it will be a failure considering how many big names they have behind and even if they didn't, it's fricking facebook. Their stocks already reacted really positively to it, 10% gains in 3 days and how are they going to fail anyways? A lot of noobs will certainly use it and buy it even if they don't know anything about cryptos.

Anil Ambani was 6th richest man in 2008. Few months back, Mukesh Ambani paid $80 million so that Anil Ambani does not go to jail for non-payment.

Bardman

hero member

Activity: 952

Merit: 516

Quote from: Leh-Meh on June 19, 2019, 02:12:13 PM

Quote from: XCANA on June 19, 2019, 01:51:01 PM

Facebook has no credibility mate, they are fond of selling out users data to the buyers(either the government or to other individuals for use), the government are just trying to infiltrate into the world of cryptocurrency and they think that, thorough facebook they can hit the whole world

Facebook Libra will be a failure. Learn from former billionaire Anil Ambani. All the hype created by those MBAs and CAs for nonsense. Bitcoin has also run into trouble in many big coutnries.

I doubt it will be a failure considering how many big names they have behind and even if they didn't, it's fricking facebook. Their stocks already reacted really positively to it, 10% gains in 3 days and how are they going to fail anyways? A lot of noobs will certainly use it and buy it even if they don't know anything about cryptos.

Leh-Meh

jr. member

Activity: 42

Merit: 2

Quote from: XCANA on June 19, 2019, 01:51:01 PM

Facebook has no credibility mate, they are fond of selling out users data to the buyers(either the government or to other individuals for use), the government are just trying to infiltrate into the world of cryptocurrency and they think that, thorough facebook they can hit the whole world

Facebook Libra will be a failure. Learn from former billionaire Anil Ambani. All the hype created by those MBAs and CAs for nonsense. Bitcoin has also run into trouble in many big coutnries.

XCANA

full member

Activity: 1470

Merit: 148

Quote from: Cryptof11k on June 19, 2019, 06:06:41 AM

Looks like this one would liberate cryptocurrency cause most people can relate with the credibility of Facebook period.

Facebook has no credibility mate, they are fond of selling out users data to the buyers(either the government or to other individuals for use), the government are just trying to infiltrate into the world of cryptocurrency and they think that, thorough facebook they can hit the whole world

Reid

hero member

Activity: 3052

Merit: 651

Quote from: stompix on June 19, 2019, 09:37:36 AM

Quote from: cabron on June 19, 2019, 08:08:54 AM

I wouldn't mind investing to Libra,

You're going to invest in a coin that will most likely be pegged to an average value of the most used currencies, like the Euro and the USD? Grin

Some serious investment plan you have there. How much time did you spend on your research, three, four seconds?

Thank you for that.

What will you get out of it? You are just making money for Suckerberg and also to his colleagues who invested in starting the project. But guess what? They dont really need you to invest in it. They want you to use it.
They will profit again in advertisements and fees.
Even if it has the lowest price in transaction out there, it will still be profit.

I am not questioning all of that. It is a good project.
I am just having goosebumps with the privacy. I am sure they will want you to connect it with your facebook account.
Guess what you have in your profile?
Everything.

Again boys, privacy.

Bardman

hero member

Activity: 952

Merit: 516

Well, one thing is for sure, it will give cryptos A LOT more exposure. They are calling it a cryptocurrency and not digital cash, or digital money. When people see it they will search for cryptocurrencies and will find out about bitcoin, facebook obviously has a ton of exposure, their stock also reacted really well to the news and they got a 10% increase which is huge in normal stocks.

kryptqnick

legendary

Activity: 3248

Merit: 1402

Join the world-leading crypto sportsbook NOW!

Quote from: Elena_Rodriguez on June 19, 2019, 03:20:27 AM

The social media giant, Facebook has finally revealed the details of its cryptocurrency Libra. Today the platform released its white paper explaining Libra & its testnet before a public launch in the Q1 of 2020.

Additionally, the new Libra coin will allow users to purchase things at local exchange points like grocery stores. Also, enables users to spend it using third-party wallet apps or its own Calibra wallet that will be built on WhatsApp, Messenger, & its own app. The best part is that you can transfer money to people with nearly zero fees.

“Libra’s mission is to enable a simple global currency and financial infrastructure that empowers billions of people.”

Read the complete White Paper of Libra coin

I don't use any kind of money for social networks features and payments inside of applications. I just never need anything to buy. Moreover, while I use Facebook for communications, I am very cautious about their moves and privacy scandals. I don't trust their new coin by default, so they gotta do something really amazing to gain the trust. I also don't like the general concept of this coin. Being backed up by assets - sounds like creating a market over another market, contributing to economic bubbles. And the coin will be centralized, right? So Facebook doesn't trust their users on the matter of pricing. This whole thing might make cryptos even more popular, though, and this can be a good thing.

Nalbo

full member

Activity: 874

Merit: 125

It would certainly be a game changer. Facebook is a company powerful enough to topple a government. It has became one of the important and effective tool to reach to the general public. When Facebook would embrace crypto, a huge discussion would be started around the world about crypto. And if Facebook be able to stick with it's plan to issue a crypto, that would be game changer to every crypto and how people view them.

Topic: Will Facebook’s Libra Coin be a Game Changer in Crypto Ecosystem (Read 640 times)