Would you use FB's Libra? - page 10.

desticy

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Quote from: JC btc on November 13, 2019, 11:42:18 AM

Quote from: desticy on November 13, 2019, 11:30:23 AM

For myself, I see no reason to use Libra. Its only advantage is the easy ability to transfer funds anywhere in the world,
but at the same time I will have to disclose my identification, which I do not want to do at all.

I'm not going to send through the bank either. Therefore, my choice is any cryptocurrency Bitcoin, Ethereum, Lightcoin, anything.
I will give a little money for the commission and get the same functionality that the libra promises while remaining anonymous.

I don't bother to care at it too, I don't know how much we should trust Libra at all, they are just too greedy that they wanted to earn money and take advantage of it because they have a lot of followers and they can manipulate and hype the people that they are more legit compare to Bitcoin, as Bitcoin's founder has not seen yet, so they will make this as their arguments towards Bitcoin.

There is one more point. We are moving into a fully digital era, all cash will soon become digital. But we can’t just take and create new numbers, this will lead to collapse.
Therefore, fiat gateways are beginning to be created all over the world in order to convert cash into digital. The libra is one of many attempts to create such gateways.
However, there are others that are less centralized, which is good.

boltz

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Depends on what they want to achieve for the crypto space. If the coin has big potential for the future , I will sure do use Libra but I won't invest into ICO even if they will make it super accessible so you could buy it from every grocery ATM's.

If they somehow succeed to compete with WesterUnion or gateway payments I will surely do use Libra as from time to time I receive money from aboard so lets wait and see their fees. Until all of this , we must wait for project regulations in order to start the funding.

Harlot

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The way I see how it will start out for Libra is it wouldn't be use by the consumers at first but with all the partnerships Facebook has for it with a lot of big corporations then the consumers will be somehow force to try or use it. Usually this is how it will start where these partners will make Libra as a requirement or there will be some kind o promo running if they use Libra and it will surely attract a lot of consumers to use it. It's not about the real interest behind it but really its because how Facebook has planned to start it with them and I think with these partnerships in line I'm pretty sure that it will cover a lot of people already.

beerlover

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The "global coin" idea is actually pretty cool, we hate the centralization of currencies and we hate the fact that they can print more and more and could not back it 1to1 so the money could be fake money that worths nothing in the end and so forth but it literally happened with USDT where tether was a shady company in Bahamas that stole all our money and we are still using it in some places and still cash it out whenever we can wherever we can.

So, having something like facebook, a goliath in world of technology and can't be really running away with all the money since they have so many ties to law and order would mean that we could actually use it and feel fine, not as good as bitcoin for sure but not as bad as usdt or fiat currencies neither at least.

JC btc

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Quote from: desticy on November 13, 2019, 11:30:23 AM

For myself, I see no reason to use Libra. Its only advantage is the easy ability to transfer funds anywhere in the world,
but at the same time I will have to disclose my identification, which I do not want to do at all.

I'm not going to send through the bank either. Therefore, my choice is any cryptocurrency Bitcoin, Ethereum, Lightcoin, anything.
I will give a little money for the commission and get the same functionality that the libra promises while remaining anonymous.

I don't bother to care at it too, I don't know how much we should trust Libra at all, they are just too greedy that they wanted to earn money and take advantage of it because they have a lot of followers and they can manipulate and hype the people that they are more legit compare to Bitcoin, as Bitcoin's founder has not seen yet, so they will make this as their arguments towards Bitcoin.

desticy

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For myself, I see no reason to use Libra. Its only advantage is the easy ability to transfer funds anywhere in the world,
but at the same time I will have to disclose my identification, which I do not want to do at all.

I'm not going to send through the bank either. Therefore, my choice is any cryptocurrency Bitcoin, Ethereum, Lightcoin, anything.
I will give a little money for the commission and get the same functionality that the libra promises while remaining anonymous.

Vishnu.Reang

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One domain where Libra could be useful is with remittance payments. Right now, Western Union and Moneygram are charging up to 10% of the total amount. I am not knowledgeable about the fee structure of Libra, but I guess it will be much lower than what WU has. That said, government taxes on remittance may be applicable on Libra as well.

panganib999

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Quote from: loafof on November 10, 2019, 11:58:01 PM

With so many controversies arising from this tech giant's ambitious actions, we never truly asked the most important question.

Would the people actually use Libra should it be approved by the congress?

I don't think there' s a need for that since I am not into doing transactions with facebook. Plus, this project of facebook is very ambitious, they would just add up to the number of alternative cryptocurrencies that doesn't have a chance of surviving that long. Facebook libra will be facing lots of headwinds, because even now that the coin isn't even released and only the experimental was out, libra is already facing lots of criticism. So, I can't really imagine what would happen on its official release which is on 2020. I think its enough for facebook to be the largest and most used social media platform and stop dreaming about being also on top of crypto space.

imstillthebest

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if it becomes approved yes id say im one of those users/investors because i believe on the marketing power of fb , so im pretty sure that thier libra coin will get hyped as soon as possible , so if my instincs think that way then why not ? but i know that there will also be more haters and they are those who hate the system of fb , thinking that fb before faces a major issue's but i think thats already been resolved and i heard that fb are obliged to pay good amount of cash if ever they will do the same mistakes again .

EdenHazard

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Quote from: Oasisman on November 13, 2019, 04:32:51 AM

Facebook already has a market place, so I don't see any reasons why people don't use it. Even more enticing for the marketers and buyers if Facebook will use it and put a special discounts and freebies when purchasing using the Libra coin during the first phase of their distribution process.

Although Libra coin is a stable coin, but it's still a good introduction for the millions of people who has yet to engaged in cryptocurrency.

Yeah it's something like inevitable... you will use it anyway.

There might a lot of confusion at the first day libra used widely as a mainstream digital currency , those people who know nothing about the digital money would feel amazed on how things could get done quickly and easily wondering why this thing didn't exist since long time ago etc.
While the cryptocurrency enthusiast like us worrying about how that kind centralized digital currency could destroy the dream of cryptocurrency space to free people from government slavery, banking slavery while actually you can standalone... managing your own money.

Pamadar

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Quote from: Oasisman on November 13, 2019, 04:32:51 AM

Facebook already has a market place, so I don't see any reasons why people don't use it. Even more enticing for the marketers and buyers if Facebook will use it and put a special discounts and freebies when purchasing using the Libra coin during the first phase of their distribution process.

Although Libra coin is a stable coin, but it's still a good introduction for the millions of people who has yet to engaged in cryptocurrency.

That's the good side of Libra project it will help the industry to be more recognized by those FB users who are not engaged with cryptocurrencies.
You are also correct regarding to the market, as FB have many participants who also using the site for their businesses, if they will bring Libra
to their attentions and if they will provide discounts surely those business owners will adopt and support the project.

angrybirdy

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Quote from: X-ray on November 13, 2019, 03:42:01 AM

Quote from: riso2015 on November 13, 2019, 03:16:13 AM

Quote from: loafof on November 10, 2019, 11:58:01 PM

With so many controversies arising from this tech giant's ambitious actions, we never truly asked the most important question.

Would the people actually use Libra should it be approved by the congress?

Of course, everyone I think will try to use Libra coins, People are still curious about the concept that will be embedded in the Libra project later. I personally will use the Libra coins later as my experiment. Although currently they continue to be hit by negative issues but I am sure the Libra project will be successfully launched.

Maybe for experiment but for the long run using Libra is just simply wrong. Imagine using a coin from someone who has violated your privacy in the past I will definitely no trust such company to have all my identities and my money aswell considering that if Libra is really going to be released in the future regardless of the government backlash they will possibly requesting people to verify their account using ID and any other important data which is basically the same as asking for trouble.

It makes sense, it is true that it will be hard to trust a company that once violated the privacy law which is already forgotten in the past. It will be hard if this will happen again in the libra project. But who knows, we can at least use libra in some way.
Using Id's, you mean KYC? I think it is expected to request their community to undergo KYC, which becomes the reason for many investors to avoid it.

Oasisman

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Facebook already has a market place, so I don't see any reasons why people don't use it. Even more enticing for the marketers and buyers if Facebook will use it and put a special discounts and freebies when purchasing using the Libra coin during the first phase of their distribution process.

Although Libra coin is a stable coin, but it's still a good introduction for the millions of people who has yet to engaged in cryptocurrency.

trumpman

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Yeah I would probably use it if it was tied to fb services, due to my job, which among others includes facebook advertising. As for me personally, nah, probably not as it's been a long time since I deleted my own facebook account. I would probably buy some though to HODL and sell for a profit as FB seems to grow bigger and bigger by the day! Unfortunately it seems we won't be seeing LIBRA in action anytime soon Undecided

Hydrogen

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The reason negative trends like recession, low economic growth, wage and wealth inequality exist in the civilized world involves banks and governments having monopolies over currency markets. There's no real incentive or competition compelling stated issued fiat to manage money responsibly or intelligently. I support libra as it would introduce badly needed competition into currency markets and break up poorly managed and organized state monopolies over money.

There is a need for the existence of alternative currencies in this era where the USA, EU and many nations hold large deficits which could trigger high inflation/hyperinflation in the future. Consumers need an exit strategy for that worst case scenario and for circumstances where recession and inflation could threaten their hard earned money.

X-ray

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Quote from: riso2015 on November 13, 2019, 03:16:13 AM

Quote from: loafof on November 10, 2019, 11:58:01 PM

With so many controversies arising from this tech giant's ambitious actions, we never truly asked the most important question.

Would the people actually use Libra should it be approved by the congress?

Of course, everyone I think will try to use Libra coins, People are still curious about the concept that will be embedded in the Libra project later. I personally will use the Libra coins later as my experiment. Although currently they continue to be hit by negative issues but I am sure the Libra project will be successfully launched.

Maybe for experiment but for the long run using Libra is just simply wrong. Imagine using a coin from someone who has violated your privacy in the past I will definitely no trust such company to have all my identities and my money aswell considering that if Libra is really going to be released in the future regardless of the government backlash they will possibly requesting people to verify their account using ID and any other important data which is basically the same as asking for trouble.

riso2015

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Quote from: loafof on November 10, 2019, 11:58:01 PM

With so many controversies arising from this tech giant's ambitious actions, we never truly asked the most important question.

Would the people actually use Libra should it be approved by the congress?

Of course, everyone I think will try to use Libra coins, People are still curious about the concept that will be embedded in the Libra project later. I personally will use the Libra coins later as my experiment. Although currently they continue to be hit by negative issues but I am sure the Libra project will be successfully launched.

Mometaskers

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I might once to check how it works. Provided of course that I don't have to provide bank details, basically if it operates like some Bitcoin wallets than can be topped-up by going to certain stores etc.

Only problem with this though is if the Libra wallet have to be linked with an FB account, you can't remain anonymous. If that's the case there's the possibility that getting banned in one bans you from the rest of ecosystem, like what the Alphabet Corp did to Markiplier's fans.

BigBos

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this can be answered when libra has actually been launched. if libra has really had great benefits, I will use it, and try to advantage it. when it's a pretty good technology, I won't reject it. besides, most people will use libra, moreover if it's very useful for business use on facebook. I am pretty sure that libra can also be used for advertising, and when that happens, I will use it to advertise something.

barabarian1

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if true libra coins will be released in 2020 and already available on the market, of course I will buy them. because I heard that the purpose of mark making Libra coins is to make it easier for us to send money as easily as we send photos. and if this libra is released then we can do libra transactions through the whatsApp and Messenger applications. so this is very interesting to try. and I think this libra coin is included in a stable coin so it won't rival or affect the price of bitcoin.

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