Topic: Would You Trust Libra Coin With Your Money? (Read 1128 times)
Facebook as the parent of Libra Coin is a big company and I think they will make various efforts to market Libra Coin. And if the Libra coin has been regulated by the Government, I think I will trust the Libra coin and be interested in investing or saving it as an asset
Where this question comes from? Problem is not with trust here, problem is what we have from trusting Facebook with our
money? Can we make some profit by investing in Libra? I'm not sure, but it will be a stable coin, we can't wait for Libra to get
some value, it will be stable. Maybe some staking/interest option, I didn't see any announcement about that. Tell me why
would I keep my money at Libra? They will not be better or worst as any other bank, without any possibility for ordinary people
to earn, Facebook will earn, like always.
money? Can we make some profit by investing in Libra? I'm not sure, but it will be a stable coin, we can't wait for Libra to get
some value, it will be stable. Maybe some staking/interest option, I didn't see any announcement about that. Tell me why
would I keep my money at Libra? They will not be better or worst as any other bank, without any possibility for ordinary people
to earn, Facebook will earn, like always.
In as much as my funds will be preserve and not going to get missed, I will be in to entrust my money to their confine. They want a legal clearance from the regulatory bodies and when it's be achieve I will put in my money and invest with Libra coin. I will love to have my investment with the said Libra coin.
I can't even trust facebook with my conversations, so why would I? hahaha
Same. They want too much info about us and collect data about us to sell back to us as Google does. FB are worse though sinve they charge you for ads and without them you struggle. With google you can do fine without ads but using google ads just helps more.
Since the beginning of the rumors that Facebook will launch the Libra project, I felt something negative about this project, and now it is proven that Libra project has been abandoned by many big investors such as Mastercard and others because there have been many contradictions from top US officials and other influential people.
How can you possibly be in crypto thinking like that? Crypto is supposed to make us free from banks and centralized finance management. Transparency and regard to privacy is the key to success and that's why we tell to the banks 'Go to hell!"
They don't understand what they are saying. Talking about contradiction from US officials and other people? So they won't invest because some people say not to and the bank won't.
i am still confused whether i will use libra coins or not. because until now there has been no clarity about this project. Libra has been abandoned by its big supporters like visa, mastercard and paypal. and also has not received permission from the government and the United States Congress. if this libra project has real use and the purpose of the libra project is to facilitate us in global transactions. if this goal can be realized and has received permission from global authorities then of course I will believe and buy libra coins.
Libra will change a lot. Imagine the places Libra can reach. Anyone who is a member of Facebook. And what if Facebook sends it to users for free? All of a sudden everyone starts to use that money. Of course they will prevent counterfeiting. The door of a new world opens.
Since the beginning of the rumors that Facebook will launch the Libra project, I felt something negative about this project, and now it is proven that Libra project has been abandoned by many big investors such as Mastercard and others because there have been many contradictions from top US officials and other influential people.
How can you possibly be in crypto thinking like that? Crypto is supposed to make us free from banks and centralized finance management. Transparency and regard to privacy is the key to success and that's why we tell to the banks 'Go to hell!"
I can't even trust facebook with my conversations, so why would I? hahaha
When you invest in an ICO's project, you always want to see the real product, achivement they can get, this thing ensures the value of the project. So why Facebook creates Libra Coin, we don't trust? Real company, real product, clearly information, and professional team would increase your trust in the project.
yes I will trust the libra project because libra is made by a large company it is impossible libra will run our money. I will buy some coins. but I will wait until the coins have actually been received by the congress and the United States government and have entered into an exchange. we know that currently libra still faces licensing issues. and there has been no official announcement on the exchange where libra will be released.
Digital currency Libra needs the global reach of Facebook to thrive, but its opposition is also driven by the social network. Controversy reigns as regulators assemble
By June 2019, there were more than 2,400 cryptocurrencies in circulation, with occasional daily launches. Most of them were almost useless, virtually no one knew of them, and they would never be. So when another –called Libra –was announced on June 18 in a white paper, you might have expected that it would not attract more attention than any of the others.
Yet Libra has received a huge amount of attention from the moment of its launch. The project made many of the same promises for most new digital currencies to venture: it would work more efficiently than existing payment technologies, avoiding the enormous spikes and falling in value that made Bitcoin, the first and best-known cryptocurrency, such a roulette wheel. More eye-catching was his pledge to reach billions of unbanked people around the world–people with little or no exposure to the global financial system–to open up vast new business and work opportunities for at least some of the world’s poor and revolutionize the global financial system.
One of the biggest supporters was the main reason people heard this time: Twitter. Freshly emerging from a seemingly endless series of data privacy controversies, the social media giant now emerged as the lead partner in a plan to create a new global currency alongside a consortium of other major tech, finance, and business firms, and vowed to carry it out in early 2020.
Clearly, Libra was attacked from all sides in the weeks and months following its launch. Cryptocurrency fans said that Libra was not a true cryptocurrency because it violates some of the basic principles advocated by the sometimes techno-anarchic fan base in the community–including the important distinction that Libra transactions still depend on confidence rather than mathematical proof.
Others attacked Libra as an accumulation of corporate power. Economists cautioned that it might challenge the influence of countries over their own monetary policy, thus undermining democracy. And lawmakers and regulators around the world came together to say they would launch investigations or take action against the fledgling currency before it even started.
Read more DoggBitCoin.Com
By June 2019, there were more than 2,400 cryptocurrencies in circulation, with occasional daily launches. Most of them were almost useless, virtually no one knew of them, and they would never be. So when another –called Libra –was announced on June 18 in a white paper, you might have expected that it would not attract more attention than any of the others.
Yet Libra has received a huge amount of attention from the moment of its launch. The project made many of the same promises for most new digital currencies to venture: it would work more efficiently than existing payment technologies, avoiding the enormous spikes and falling in value that made Bitcoin, the first and best-known cryptocurrency, such a roulette wheel. More eye-catching was his pledge to reach billions of unbanked people around the world–people with little or no exposure to the global financial system–to open up vast new business and work opportunities for at least some of the world’s poor and revolutionize the global financial system.
One of the biggest supporters was the main reason people heard this time: Twitter. Freshly emerging from a seemingly endless series of data privacy controversies, the social media giant now emerged as the lead partner in a plan to create a new global currency alongside a consortium of other major tech, finance, and business firms, and vowed to carry it out in early 2020.
Clearly, Libra was attacked from all sides in the weeks and months following its launch. Cryptocurrency fans said that Libra was not a true cryptocurrency because it violates some of the basic principles advocated by the sometimes techno-anarchic fan base in the community–including the important distinction that Libra transactions still depend on confidence rather than mathematical proof.
Others attacked Libra as an accumulation of corporate power. Economists cautioned that it might challenge the influence of countries over their own monetary policy, thus undermining democracy. And lawmakers and regulators around the world came together to say they would launch investigations or take action against the fledgling currency before it even started.
Read more DoggBitCoin.Com
If I can get something in return of trusting Libra with my money then I am willing to trust them but if in case I cannot get anything from Libra coin then I will not bother myself in learning about Libra. It's a matter of return of investment, if I cannot get an ROI of my hard earned money then I rather switch to other coins that has a high risk with a high ROI also.
But right now, there is a very less chance that Libra can still launch successfully as most of it's partners are exiting the Libra project.
Facebook is a really big company so yes. Still I will wait a little more to see if facebook incorporates Libra inside it's apps: Facebook, Whatsapp, Instagram. That could provide real value and utility across platforms.
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Facebook is a big company so why you shouldn't trust them? In crypto we know, that private keys are important, but you have to look at Libra project as a centralized project - smotehing like a bank. And this bank will manage your finances.
Big company doesn't mean they won't do any harm to you. Facebook has known to violate their users' privacy and so many people are doubting this company and now they are trying to expand their reach into financial technology. Some people might see no problem entrusting their money to Facebook because they are a "Big company" in their mind but people who always get updated with the company's news know well that they are fishy but it's all up to everyone whether to trust them or not because it's their money. 
Facebook looks very strong and stable and so Libra may be quite stable and secure, in my opinion. But I would wait for some mass adoption before investing here, all this situation with regulators looks too risky now.
I will probably trust my money with Libra coin. It's just the trust that uphelds it. I trust the company behind it thus will trust my money on their coin. In terms of investment part, I'll just use their own currency as safe haven of my coins. It's probably a great alternative to USDT as it had a problem with its own.
Well.. it depends a lot on the listing price and other technical details. If a majority of the analysts believe that the listing is overpriced, then the response from the investors may be dull. Also, it needs to be seen whether the investors outside the United States will be able to purchase Libra in a legal manner. But all these factors are secondary. Libra needs to get clearance from the US regulators first.
I have already trashed libra on this thread already but my conscious has been bothering me. Even though i dislike facebook and libra. I will... if the opportunity presented itself for it to be profitable. I will be taking that opportunity. No matter your feelings about an asset you owe it to yourself and family to be loyal to your portfolio.
If Libra Coin has been regulated by regulators, I think many people will believe in Libra coin and maybe speculate with it. Libra coin will probably grow rapidly because with the support of Facebook, people will be easy to trade quickly and cheaply
we'll see, after launching whether libra can really be a stable coin or will continue to follow the current crypto market in general. if it managed to become a stable coin and according to the aim of the Facebook CEO who said that libra was created as a substitute for the dollar in the digital world, I think it's worthy of trust.
If it is generalized in general I would trust Libra because of security, then the issue of legality. With the strength of the Facebook Company, which is one of the biggest in the world, of course, will not commit the folly of deceiving investors with Libra, it is clear they have legal documents where they can account for the projects they make. You can hate Libra, but you cannot block the trust of Facebook users with the presence of Libra. Almost everyone uses the Facebook platform. All altcoin campaigns use facebook to share their project news long ago.
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