This facebook coin will be a big hit as there are so many supporters and partnership now.
This will be a big blast and any sale they will make will be a short time SOLD-out.
BTW its not globalcoin as they named it LIBRA..
Topic: Your thoughts on Facebook's GlobalCoin - page 12. (Read 3524 times)
Mixed reviews but interested to see how regulation will pan out with having such a thing in place. It's interesting that Congress is already taking action on Libra even citing Ciphertrace cyber security report in their letter. They see 1.2 billion in crypto fraud/scams reported and a red flag is raised
From everything that I have read about Libra, I got that the cryptocurrency will be available for billions of people. It can fasten the process of involving people into crypto life. With Libra, many will start taking traditional volatile altcoins and Bitcoins more friendly and will be actively investing their money in crypto, using digital money in all spheres.
I had the News, that is very good one to wards cryptocurrency industry, Because it will create more investors, i mean new investor mainly Facebook usage to come in into financial freedom crossed the global, Hence, many people that not believed in crypto, we see more proof from Facebook.
Facebook’s Libra Should Be Regulated Like a Security, Says Former CFTC Chair
https://www.coindesk.com/facebooks-libra-should-be-regulated-like-a-security-says-former-cftc-chair
Libra is a security, says a former Commodity Futures Trading Commission (CFTC) chairman in prepared remarks to the U.S. House of Representatives.
I agree with Trump, Facebook should just go through the whole banking steps just like how the other banks did.https://www.coindesk.com/facebooks-libra-should-be-regulated-like-a-security-says-former-cftc-chair
Libra is a security, says a former Commodity Futures Trading Commission (CFTC) chairman in prepared remarks to the U.S. House of Representatives.
Whatever though, Libra pretty much like the other Asian mobile payment companies.
Facebook’s Libra Should Be Regulated Like a Security, Says Former CFTC Chair
https://www.coindesk.com/facebooks-libra-should-be-regulated-like-a-security-says-former-cftc-chair
Libra is a security, says a former Commodity Futures Trading Commission (CFTC) chairman in prepared remarks to the U.S. House of Representatives.
https://www.coindesk.com/facebooks-libra-should-be-regulated-like-a-security-says-former-cftc-chair
Libra is a security, says a former Commodity Futures Trading Commission (CFTC) chairman in prepared remarks to the U.S. House of Representatives.
In general, it seems to me that this is the first attempt by a global company to enter the cryptocurrency market. And I think that it will not be possible in the next 2 years to launch such a large-scale project even Facebook.
Facebook is not the first company tried to do this. Tencent is the first, but the Facebook's Libra caught more attention and created more noise because the power and great impacts of Facebook on social media platforms, and in real life. If Facebook can do this, without serious adjustment from its orginal Whitepaper, Libra will change the way people choose as payment gates for their daily expenses.All eyes are on Facebook because Facebook has members all over the world and facebook is big social media in the world. If Libra Coin success and people start use for transaction, this will affect people's perceptions about cryptocurrency and there may be many new investors in the cryptocurrency market.
Stable coins simply do not exist in my minds. There is no benefits to invest in stable coins, that what Libra coin of Facebook is. There are promised use cases of Libra, but I doubt that that coin will bring benefit in aspect of investment to its investors (if Libra will be legally launched in the USA).
In general, it seems to me that this is the first attempt by a global company to enter the cryptocurrency market. And I think that it will not be possible in the next 2 years to launch such a large-scale project even Facebook.
Facebook is the largest company in the world and it has every chance of success of its Libra coin. But while they can not deal with their laws, which will determine the legal status of Libra-coins.
Stable coins simply do not exist in my minds. There is no benefits to invest in stable coins, that what Libra coin of Facebook is. There are promised use cases of Libra, but I doubt that that coin will bring benefit in aspect of investment to its investors (if Libra will be legally launched in the USA).
The ideas of Facebook with Libra coin is not new, that actually did by Tencent and their coin years ago in China. However, Facebook will hardly to success with their Libra, at least in their nation, the USA, because that nation has very strict managements on crypto currency. I don't think Facebook and Libra will get their success soon (if allowed to launch by the US.Congress).
Japan to Look Into the Impact of Facebook’s Libra Ahead of G7
https://cointelegraph.com/news/japan-to-look-into-the-impact-of-facebooks-libra-ahead-of-g7
Japanese authorities are investigating the impact of Facebook’s Libra stablecoin, Cointelegraph Japan reported.
Per the report, Japanese authorities have set up a liaison conference tasked with investigating the impact of Facebook’s stablecoin on monetary policy and financial stability. The conference will reportedly consist of the Bank of Japan, the Ministry of Finance and the Financial Services Agency and has already started meeting this week.
The report claims that the objective of the newly formed group is to coordinate policies that would address the consequences of Libra’s implementation on regulation, tax, monetary policy, and payments settlement.
Unspecified officials reportedly noted that they hope that more tax and financial regulators will join the group, given the broad impact of Facebook’s project. Japan has taken the initiative on ahead of the upcoming meeting of the G7 finance ministers in Chantilly, France, on 17-18 July.
As Cointelegraph reported at the end of June, France created a G7 taskforce to examine how central banks can regulate cryptocurrencies such as Libra in anticipation of the same summit.
It is not only regulators who are worrying about Libra. Yesterday, news broke that Ethereum’s co-founder Mihai Alisie is concerned that Facebook is attempting to hoodwink regulators into approving a centralized “cryptocurrency.”
https://cointelegraph.com/news/japan-to-look-into-the-impact-of-facebooks-libra-ahead-of-g7
Japanese authorities are investigating the impact of Facebook’s Libra stablecoin, Cointelegraph Japan reported.
Per the report, Japanese authorities have set up a liaison conference tasked with investigating the impact of Facebook’s stablecoin on monetary policy and financial stability. The conference will reportedly consist of the Bank of Japan, the Ministry of Finance and the Financial Services Agency and has already started meeting this week.
The report claims that the objective of the newly formed group is to coordinate policies that would address the consequences of Libra’s implementation on regulation, tax, monetary policy, and payments settlement.
Unspecified officials reportedly noted that they hope that more tax and financial regulators will join the group, given the broad impact of Facebook’s project. Japan has taken the initiative on ahead of the upcoming meeting of the G7 finance ministers in Chantilly, France, on 17-18 July.
As Cointelegraph reported at the end of June, France created a G7 taskforce to examine how central banks can regulate cryptocurrencies such as Libra in anticipation of the same summit.
It is not only regulators who are worrying about Libra. Yesterday, news broke that Ethereum’s co-founder Mihai Alisie is concerned that Facebook is attempting to hoodwink regulators into approving a centralized “cryptocurrency.”
GlobalCoin is coming. What are your thoughts on this new Facebook-made altcoin? What have you heard about it?
Share your first impression!
Share your first impression!
They are aiming for global acceptance on their coin but we should call it LIBRACOIN.
All i think i this is just HYPE now and we can depend on it wif we want a good in come in short time.
But as i look it for a long run, this will not be different to XRP and some others.
Mixed reviews but interested to see how regulation will pan out with having such a thing in place. It's interesting that Congress is already taking action on Libra even citing Ciphertrace cyber security report in their letter. They see 1.2 billion in crypto fraud/scams reported and a red flag is raised
And now GEMINI wants a part of this:
https://www.coindesk.com/winklevoss-twins-gemini-exchange-may-join-facebooks-libra-project?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic%20
Tyler and Cameron Winklevoss, co-founders of the New York-based crypto exchange Gemini, may soon join the Libra Association, the consortium governing Facebook’s proposed cryptocurrency.
“We’re definitely looking at it in earnest and we’re excited about the project,” Cameron told CoinDesk Tuesday.
https://www.coindesk.com/winklevoss-twins-gemini-exchange-may-join-facebooks-libra-project?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic%20
Tyler and Cameron Winklevoss, co-founders of the New York-based crypto exchange Gemini, may soon join the Libra Association, the consortium governing Facebook’s proposed cryptocurrency.
“We’re definitely looking at it in earnest and we’re excited about the project,” Cameron told CoinDesk Tuesday.
To be honest, I fear this coin. I just do not understand how Zuckerberg, which is related to information leaks, can be connected with the concept of cryptocurrency. This is idiotic.
we used to be afraid of the banking system, which, together with government agencies, controls the funds of citizens, but now we will be afraid of one person, whose authority will be all personal information and information about the amount of funds and transactions. No wonder the US Congress is trying to counteract this project from Facebook. We can say with confidence that Libra will greatly undermine the economies of many countries in the world.
To be honest, I fear this coin. I just do not understand how Zuckerberg, which is related to information leaks, can be connected with the concept of cryptocurrency. This is idiotic.
People’s Bank of China (PBoC) seems uncertain what to think of facebook coin:
https://www.coindesk.com/facebook-libra-threat-could-spur-work-on-chinas-national-digital-currency-pboc-official?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic%20
With Facebook’s Libra cryptocurrency potentially posing a threat to traditional money on various fronts, China’s central bank could hasten development of its own digital cash, according to a People’s Bank of China (PBoC) official.
https://www.coindesk.com/facebook-libra-threat-could-spur-work-on-chinas-national-digital-currency-pboc-official?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic%20
With Facebook’s Libra cryptocurrency potentially posing a threat to traditional money on various fronts, China’s central bank could hasten development of its own digital cash, according to a People’s Bank of China (PBoC) official.
Now its its looking like Circle exchange ceo Facebooks Libra leads to regulation:
https://cointelegraph.com/news/circle-ceo-hopes-libras-unique-needs-trigger-positive-regulation
Jeremy Allaire, co-founder and CEO of payments company Circle, said that Facebook's Libra will run in a closed-loop permission scheme that has its own requirements for regulation during an interview with Bloomberg released on July 5.
Bloomberg video:
https://www.bloomberg.com/news/videos/2019-07-05/circle-ceo-says-public-blockchains-with-financial-applications-are-just-emerging-video
https://cointelegraph.com/news/circle-ceo-hopes-libras-unique-needs-trigger-positive-regulation
Jeremy Allaire, co-founder and CEO of payments company Circle, said that Facebook's Libra will run in a closed-loop permission scheme that has its own requirements for regulation during an interview with Bloomberg released on July 5.
Bloomberg video:
https://www.bloomberg.com/news/videos/2019-07-05/circle-ceo-says-public-blockchains-with-financial-applications-are-just-emerging-video
A coin from Facebook can be considered as an official cryptocurrency asset. But other coins may have problems with regulation.
But this one will have the worst aspects of a crypto currency.A controlled corporate crypto currency that is there to profit from its users to gain more power in the world.
Great speech by Andreas here
It will surely have good impact on crypto market in general but some are saying it will outrival bitcoin which is very hard to believe for me ,globalcoin will do fine no doubt but can't rival bitcoin
Naaaaa! I don’t believe it. This incoming new altcoin will surely be centralized, will be a stable coin from which i’ve heard about and will have its specific purpose different from that of Bitcoin. It will surely be for the use of these leading social media facebook and WhatsApp and can’t be considered a digital asset like bitcoin. Jump to: