Zuckerberg: we will exit from project Libra !!!!

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

I read about this news also yesterday and I thought that Facebook was stronger than this will all the initial noise they were making, and I want to think that it is nemesis that is catching up on them, because I remember vividly how they so much have issue with ico project to be advertised on their own platform too because they never believe in ico, and now that they need support also, they are not getting it just like other ico did not get support from them.

There is nothing that we can do if the government is giving them issue, it shows that they don’t have any usefulness to the government and the community that much, because it is not only the government that is giving them issue, but the community too that they are releasing the product to is also not very much in support of it.

coin-investor

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

So you really believe that he is going to do that? I've seen his speech and I don't see his intention of doing that, what I've seen is, he is trying very hard to convince legislators that he will do what he is being asked and he is trying to present Libra Coin as something that can Fix ‘Failing’ Financial System.
He is so good at doing this but I'm pretty sure he will do everything for them to agree on Libra coin to launch, he is good at lobbying.

Eugenar

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

I see it is not the exact words came out from Mark Zuckerberg, since I just recently watch the video in facebook. Mark Zuckerberg says that he will leave the project if they try to run without the approval of the congress or particularly, he's waiting for the go signal of the government. In that case, there's not much possibility that it can happen as congress is also studying and still filtering out how libra will be, if it will be launch.

yulionoo

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I think this is a way to get the Libra coins out of congressional oversight. so he said the Libra project was independent.
Libra coins have not been released but have experienced a lot of bad news ranging from rejection from the United States government, rejection from European countries and now most of the companies that support also choose to break away from the Libra project. if more refusal may occur, libra coins will not be released.

Febo

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

If Facebook leave project Libra there are 21 other partners that can step up and lead Libra to world domination. One company is not what makes Libra project killer of many shitcoins.

Doell

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Quote from: Wapfika on October 25, 2019, 05:14:28 AM

Quote from: glendall on October 24, 2019, 07:14:32 PM

I was very surprised by Zuckerberg's statement, but it was a wise decision, because however Zuckerberg carries the name Facebook, it is better to get out of the Libra project than to survive if it does not get permission from the legislator. because from the beginning Facebook was there before libra appeared.
But the next question, if Zuckerger leaves Libra and Libra becomes independent, will it still attract investors? this will be an interesting discussion.

I think the only thing that makes Libra known is because of Facebook, if not in Facebook and Zuckerberg's management it will only like othe ICO or other projects like what stablecoins are. I doubt it will get much attention if Zuckerberg will not support it or announced fully that his no longer related in Libra since many already know his in, will see if people,government and possible investors change mind about his statement.

conflict will make a setback for the Libra project ,you are right that a company as big Facebook becomes the main thing in investor confidence ,if Zuckerberg and his company leave then libra is only a dime and will be an ordinary altcoin just a funny story

aioc

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

I doubt if they are going to do that, they have a very long preparation for that and they spent money and resources to make this is a realization, as you can see in the hearing he emphasize that he will abide, on all rules about compliance and AML and verification to make sure that Libra coin is fully compliant, they really want to comply with all the rules.

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

This project is truly hyped, even the legislators in their country doubted it then how would they continue this project. It is not about how big this project was but it's about how people trust this one and not be like other projects that end up broken in the end.

Wapfika

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Quote from: glendall on October 24, 2019, 07:14:32 PM

I was very surprised by Zuckerberg's statement, but it was a wise decision, because however Zuckerberg carries the name Facebook, it is better to get out of the Libra project than to survive if it does not get permission from the legislator. because from the beginning Facebook was there before libra appeared.
But the next question, if Zuckerger leaves Libra and Libra becomes independent, will it still attract investors? this will be an interesting discussion.

I think the only thing that makes Libra known is because of Facebook, if not in Facebook and Zuckerberg's management it will only like othe ICO or other projects like what stablecoins are. I doubt it will get much attention if Zuckerberg will not support it or announced fully that his no longer related in Libra since many already know his in, will see if people,government and possible investors change mind about his statement.

Kotone

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He got a point. Why still continue if too many against their plan to do so. How can you waste a lot of effort on something many are truly against with. I hate to say it, but some funds will vaporized on thin air if Libra will not pursue, yes Mark is rich but this isn't a hobby that only will consume just a few cent of his money. If this is about politics then better to not affiliate his name and change ownership or someone not connected to facebook. Cause I guess that it's only political attack towards him.

Alisorena1993

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Quote from: kawetsriyanto on October 24, 2019, 06:55:37 PM

I think it's too easy for them to give up or exit. Why don't they make another plan to continue Libra project? I am still sure that they can continue the project if they are serious to contribute to crypto world. Facebook is a big company and Zuckerberg must be aware of it!

Anyway, they look unprepared with USA regulation. It is a big mistake for sure, I don't believe they are not ready with that.

I think Zuckerberg has a backup plan and this announcement is just bluff! they know crypto world and Libra would continue to grow. I personally think this might attract even more attention to it.

Kyraishi

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

I reckon it's just a bargining move. I don't think Facebook would ever abandon their project which they've spent several years and millions of dollars of, it's more a bluff and pressuring Congress to work with them.

If Libra did get taken over by the government, it's not that bad. There are already confirmed situations where countries are making their own crypto-currencies, and Libra's tech would easily help accelerate the process and I trust governments more than Facebook.

glendall

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I was very surprised by Zuckerberg's statement, but it was a wise decision, because however Zuckerberg carries the name Facebook, it is better to get out of the Libra project than to survive if it does not get permission from the legislator. because from the beginning Facebook was there before libra appeared.
But the next question, if Zuckerger leaves Libra and Libra becomes independent, will it still attract investors? this will be an interesting discussion.

boltz

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We don't know that for sure yet. He said that if regulators won't permit Libra to operate in USA , Facebook will be forced to leave the project but the other investors will continue to run it and operate in Swiss as there regulators know that the project will only bring prosperity. Its sad to see how USA want to control Zuckerberg and cryptocurrency instead of supporting him and the project as USA has a lot to gain from this...

kawetsriyanto

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I think it's too easy for them to give up or exit. Why don't they make another plan to continue Libra project? I am still sure that they can continue the project if they are serious to contribute to crypto world. Facebook is a big company and Zuckerberg must be aware of it!

Anyway, they look unprepared with USA regulation. It is a big mistake for sure, I don't believe they are not ready with that.

bigcash2011

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I think they should register themselves and be compliant with all the government regulations but they should not give up on libra coin as a project now because they have announced its launch in early 2020 so it does not make sense to abandon the project after coming so close.

kravas86

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I think it's just a competent move Mark Zuckerberg. If Facebook is not responsible for the Libra project it will protect itself from various sanctions from the government. But that's just my guess. I can't believe mark Zuckerberg would abandon such a promising project. Most likely he is looking for a good way out of this situation.

Alisorena1993

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Quote from: ashmodeus on October 24, 2019, 01:04:06 PM

really ? did Zuckerboy say like that ? where the source ?
the only what i can find about this news is "Even though the Libra Association is independent and we don’t control it, I want to be clear: Facebook will not be part of launching the libra payments system anywhere in the world until US regulators approve" .
but well, as long Facebook won't touch libra project , it is enough to make libra truly pure not directed by certain parties.

I'm very agree with that "not directed' part. the hole idea of cryptocurrency is UNCENTRALIZED the trading currency so if any government like USA want to have control on trades it means it's not true cryptocurrency . It's just another online currency like paypal USD.

ashmodeus

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really ? did Zuckerboy say like that ? where the source ?
the only what i can find about this news is "Even though the Libra Association is independent and we don’t control it, I want to be clear: Facebook will not be part of launching the libra payments system anywhere in the world until US regulators approve" .
but well, as long Facebook won't touch libra project , it is enough to make libra truly pure not directed by certain parties.

Tylev

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Quote from: Pet240 on October 24, 2019, 07:31:24 AM

Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

Thus is quite interesting, but please, the source will be appreciated.
I am just thinking that if Facebook should opt out, then who are those that will remain in the team? Will they proceed with the project launch?
I guess those questions will get answers by year 2020, because this year itself is almost ending.

Yes, this question is very interesting. If Facebook does not formally have any relation to the Libra coin, then all the same, in fact, nothing will change. Everyone should understand this perfectly. The project Libra must be completely stopped. Zuckerberg’s words that Facebook will not have anything to do with Libra should not be taken seriously. We all understand that in the event of the release of this coin, virtually nothing will change.

JeffBrad12

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As I said in many threads earlier this is to be expected. What will you do when all the major exchanges are withdrawing themselves from getting involved into this project? definitely quit the project or cancel it. Going against the government is simply too hard and it's about a big company like facebook that has done many mistakes in the past regarding privacy that's like a dead giveaway.
When the major investors are withdrawing there will be a massive withdrawal from minor investors aswell so it's more wise to just cancel the project. why going through all the hassle for just small gain, Libra is just an experimental and FB don't know if they can really make profit out of it. It seems mark zuckerberg himself also just giving up.

BigBos

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I also suspect this. I think Mark himself would prefer to protect Facebook than against legislators to defend Libra. starting from PayPal and other large companies, and currently, Facebook. I think Facebook will bring very good news by issuing its own cryptocurrency, but because there is so much resistance from various parties, I think this will also be a difficult choice. Facebook is a big company, seeing that they have their own currency that seems to have an effect on the world economy.

pamsugas

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I think with many countries rejecting the presence of Libra and Libra partners one by one exiting the Libra will not be launched. it is very unfortunate if the presence of libra is not launched because libra can be a bitcoin advertisement.

Shasha80

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After knowing this news, I became more convinced that Libra would become a dead project, especially since it was clear with Mark Zuckerberg's
statement that if do not get the trust of the US government facebook exit from projects libra. As we know without facebook libra coin it's nothing.
It turns out that with the withdrawal of Paypal, visa and master card from this libra project it's a sign that libra will die before launching. In my
opinion don't need to continue this Libra projects, because there are already many choices for stable coins.

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Quote from: BitHodler on October 24, 2019, 09:52:18 AM

I'm sure that Libra will end up being launched, the only questions are when will it launch, and in what form will it launch.... it's clear that regulators won't allow them to launch in their current form so they have to make adjustments.

One adjustment I can see them make is that the governments of each country they operate in will be granted a role in the whole network. It will lead to more centralization and governments will retain as much of their control as possible.

I find it quite a bummer how regulators don't let businesses just conduct business.... all we see them do is over regulate everything to a point where you can't even fart without a permit or some sort of a financial license.

On my own view it would really be hard for them to launch up specially that the government would be your enemy.This isnt something new for them to neutralize everything where
they do saw that would be a threat to them.We know on how big Facebook is and making their own coin can give out some publicity on the other side which would lead up to decentralized crypto which these fellas doesnt really want to.Its still up to Mark if he would still pursue for this project or not but on the word given it seems they are on the verge of giving up completely.

batang_bitcoin

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I thought that they've said "If it will launch too early".
I don't understand the media on what they really are reporting and what's correct with all of these articles. I haven't watched the hearing that's why I'm kind of ignorant with those quotes.

BitHodler

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I'm sure that Libra will end up being launched, the only questions are when will it launch, and in what form will it launch.... it's clear that regulators won't allow them to launch in their current form so they have to make adjustments.

One adjustment I can see them make is that the governments of each country they operate in will be granted a role in the whole network. It will lead to more centralization and governments will retain as much of their control as possible.

I find it quite a bummer how regulators don't let businesses just conduct business.... all we see them do is over regulate everything to a point where you can't even fart without a permit or some sort of a financial license.

hornetsnest

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erm no..he will fool all the plebs into thinking it will be independent of facebook while outsourcing it to his minions Grin

Facebook = eVil

brightemo

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Of course thay will halt this project if congress not allow it.

nightl

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It’s clear that the state - in this case the USA - doesn’t really need a rival, which creates an analogue of dollar, its own currency.
It will be very difficult to agree with all states, but everyone understands, including Mark, that future is with cryptocurrencies and they need to be the first among large companies in this.
It also seems to me that if Libra is launched, it means that in future we will expect the rule of corporations, not of the states.

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Quote from: TaliskerDarkStorm on October 24, 2019, 09:34:44 AM

Thank the Lord. I've been against this project since the beginning. Because it was obvious that MZ was stealing user data and selling it. I was sure someone like that would tarnish the blockchain's name.

It was a very good decision, and I hope he doesn't make that kind of attempt again. And I also wish that MZ would be sentenced for the crimes he committed.

As i understand they will not leave the project but they are ready to do so if legislators trust not gain.
So there still an option and a chance that it will launch. I hope they will stop that project but we cannot do anything and just wait for the newa if they will launch it or not.

target

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Okay Libra is going to be dead. No adoption will take place. I would expect price to dip a bit more. All the hard work seem to go to waste.

The SEC may see this a threat from Mark. Facebook does have the right to give the project to someone from other country right? This would mean that the SEC can't have any participation to regulate Libra anymore when that happen. This is something to consider then when all these are just Internet companies and location can be moved to an isolated region.

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

That is what they need to do! do the EXIT, they will never get the trust from the people in cryptocurrency even they get that to legislators!
But i hope and pray that they get nothing and don['t launch the LIBRA project! not a good one to have!

TaliskerDarkStorm

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Thank the Lord. I've been against this project since the beginning. Because it was obvious that MZ was stealing user data and selling it. I was sure someone like that would tarnish the blockchain's name.

It was a very good decision, and I hope he doesn't make that kind of attempt again. And I also wish that MZ would be sentenced for the crimes he committed.

silversurfer1958

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

I can sympathize with them. Their project is too good but the scale is too large and the US is afraid they will dominate the economy. that will cause much harm to the politics of their country in the future.
I think Libra should scale down and show more transparency through their new approach. This will make it easier for them to pass Congress.

blckhawk

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

It's better if you had provided links to verify the thread. Anyways, it's not much of a deal. Libra is just another altcoin. The only thing different to it is that it's supposed to be ran by Facebook, which can influence the public. And another thing is that I think he can't get the votes of legislators because of the fact that Facebook has been involved in privacy concerns, considering the amount of data Facebook has in each of its users, add to it the supposed to be Libra, which would also run through their databases, it would just make things worse.

r32godzilla

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Who knows what is the best move for global cryptocurrency adoption. And probably we will never know until Libra will be launched.

But it is good to know, that all centralized cryptocurrencies likely will be canceled due to regulations, go Bitcoin, go!

CryptoBry

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

I was suggesting this idea last week in my post on Facebook. In fact, it is getting too late because the exit of Facebook from Libra should have been done months ago. The biggest reason why many regulators and politicians are not giving Libra a gate pass is because Libra is heavily associated with Mark Zuckerberg and his Facebook. They are concern that what happened on Facebook regarding privacy and data leaks can also be done in Libra and of course they are raising issue with Libra being a centralized platform controlled by a few individuals and organizations. I am pushing that Mark should do the divestment as soon as possible maybe tomorrow at 12:00 PM. Mark, come on, please do it.

lobat999

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

Of course! That will be the best option for the Facebook founder if the Libra Association failed to convince the U.S. Government and get their approval on the the merits of the project because he will not risk putting his main company - Facebook into Government pressure or maybe even persecution or jeopardy!

Now I hope they also have other alternatives besides developing Libra and if this project will now push through, maybe Facebook would consider adopting Bitcoin and other notable altcoins into their platform instead. Imho.

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

If that happens, they must do this thing to protect their reputation from promoting some dead project. However, If they failed to make Libra as one of the Top CryptoCurrency in the crypto industry, I doubt that they will gonna make a new project about blockchain technology again. I see the video of Mark's testifying in the US House Financial Services Committee today. He really meant what he says. This Libra project is not a joke, He is really taking care of it. despite the other big companies leaving them.

Aabcde

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Quote from: Alisorena1993 on October 24, 2019, 09:00:38 AM

Quote from: AliMan on October 24, 2019, 08:11:51 AM

Quote from: Aabcde on October 24, 2019, 06:47:15 AM

Mark already understood that if he continued Libra he would only spend money and time. While the US government has not yet given permission related to the project because it is later feared to be a place for sending money for terrorism and money laundering. In addition, many of their partners have resigned to support Mark's project.

Good thing for Mark to decide quickly on this issues about Libra project, because if he's going to continue those plans inline with this Project; conflict may arise. With that resignation of all potential supporters of Libra, this really showed a non commendable signs which also intercepted in advance by the Government of USA. Their impression is quite defensive to the countries personal interest on the crimes that might occur eventually when Mark's Libra will be launched.

I don't think Mark gave up on Libra. I personally think this is their strategy to escape from fine from US government. USA never gonna accept cryptocurrency because the nature of cryptocurrency...
BTC and other altcoins are rival for US$ at the end of the day...

Maybe. But I am not too interested in Libra issues. Maybe Mark could have established Libra in a supportive country like Singapore, Estonia, Cayman Island, etc. Or it could just change the name Libra to another name lol Cheesy

If they accept crypto, they cannot print money again as their wish.

Alisorena1993

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Quote from: AliMan on October 24, 2019, 08:11:51 AM

Quote from: Aabcde on October 24, 2019, 06:47:15 AM

Mark already understood that if he continued Libra he would only spend money and time. While the US government has not yet given permission related to the project because it is later feared to be a place for sending money for terrorism and money laundering. In addition, many of their partners have resigned to support Mark's project.

Good thing for Mark to decide quickly on this issues about Libra project, because if he's going to continue those plans inline with this Project; conflict may arise. With that resignation of all potential supporters of Libra, this really showed a non commendable signs which also intercepted in advance by the Government of USA. Their impression is quite defensive to the countries personal interest on the crimes that might occur eventually when Mark's Libra will be launched.

I don't think Mark gave up on Libra. I personally think this is their strategy to escape from fine from US government. USA never gonna accept cryptocurrency because the nature of cryptocurrency...
BTC and other altcoins are rival for US$ at the end of the day...

confreslamp

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I do not believe they will exit from Libra, but if lawmakers would not allow Libra to see the light, FB can be the first company to leave the project. However, I am still sure that other companies will finish Libra and will release it sooner or later.

Pearls Before Swine

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Quote from: robelneo on October 24, 2019, 07:20:14 AM

Congress is right in asking questions about how they are going to handle compliancy and strong identity verification

Yes they are, not that I think for a minute that congress is actually concerned about the privacy of facebook users, or anyone's privacy for that matter. We're the country that has the NSA after all.

I'm not sure there's anything new here. We all knew that *if* Libra doesn't pass the regulators, facebook would have to abandon the project. Hearing Zuckerberg say it doesn't change anything in my eyes. The partners that dropped out already knew this, which is why they did it.

Libra is screwed. I'm sure I am not the only one who sees this.

NathanJB

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

This is the ultimate decision that the CEO of Facebook has to make in the coming weeks. I think they are somewhat exhausted already convincing the government of the good objective of their project. And after all the efforts have been made, they still end up failing to gather the trust and support of these people. The loudest voice is still NO. If there is one or two YESes, it is enough for it to be buried among a hundre NOs.

AliMan

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Quote from: Aabcde on October 24, 2019, 06:47:15 AM

Mark already understood that if he continued Libra he would only spend money and time. While the US government has not yet given permission related to the project because it is later feared to be a place for sending money for terrorism and money laundering. In addition, many of their partners have resigned to support Mark's project.

Good thing for Mark to decide quickly on this issues about Libra project, because if he's going to continue those plans inline with this Project; conflict may arise. With that resignation of all potential supporters of Libra, this really showed a non commendable signs which also intercepted in advance by the Government of USA. Their impression is quite defensive to the countries personal interest on the crimes that might occur eventually when Mark's Libra will be launched.

jorenpo

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it is not surprising the facebook withdraw its support on libra. project is already before its launch. and many partners are already given up on it.

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

For me, it is not very surprising. I was somewhat expecting this. I had a feeling that during the past few weeks Zuckerberg was searching for an exit strategy. He is using the senate hearing as an excuse. Perhaps this was one of the reasons why some of their partners exited the scene earlier (PayPal was the first, followed by others including Visa, Mastercard and Stripe).

Mark Zuckerberg initially wanted to use the concept of cryptocurrency to his own benefit by trying to launch his own coin. But he didn't had enough understanding of the way cryptocurrency works, and this led to all the negative consequences. And he did what he had to do, once he realized that he is trying to chew much more than what he could swallow.

masterrex

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

I think thats weird, in the other article that i read, its contradicting, BTW Libra has a long way to go before they can convince most of the US politician, because the way these politician look on Libra is a treat to US$ dollar it should come up with another convincing idea that Libra is a not treat of US$ dollar, or else Libra project will be scrap, Regulatory thing is hard to do specially when involving cryptocurrency, i think thats unfair.

Alisorena1993

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Quote from: Hippocrypto on October 24, 2019, 06:42:14 AM

Quote from: DaMut on October 24, 2019, 06:35:55 AM

Of course, they need to terminate the project because there is no meaning in supporting a dead project. Regulation is important and life of the project if they want to be a regulated stablecoin, if they do not get their trust that means they will not be able to achieve their goal as regulated stablecoin and won't be able to perform as a regulated digital currency.
it is better to close the project and use a different approach other than supporting this if they do not get their trust.

Much better for them to withdraw their intentions to support for this project, since the US government has no plans to let this operate in their country. It would be not suitable for their residence, and based on the review more partners of this project given up their support for this due to complicated issues.

Yes exactly! this is a smart move. I personally think they want to let "satoshi" kinda control the project that they can't fine any legit person or ban , exile , etc..

Red-Apple

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

What do you think about this?

haha, i said this in early days that this shitcoin came out that it won't have a good future at all. the only thing Facebook could ever do was to hype it and pump it. otherwise it was a centralized shitcoin from a shady company that aims to gather everyone's personal information and make money from it.
when the government started to bash it, i was sure it is going to die in the womb.

ecnalubma

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www.Artemis.co

I think he just want to distance Facebook from the current scrutiny about Libra project that’s why he claim that it is an independent project, he might be thinking of a possibility that it can hurt Facebooks market status. Zuckerberg is a businessman he probably won’t quit this battle easily.

Pet240

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

Thus is quite interesting, but please, the source will be appreciated.
I am just thinking that if Facebook should opt out, then who are those that will remain in the team? Will they proceed with the project launch?
I guess those questions will get answers by year 2020, because this year itself is almost ending.

robelneo

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Quote from: counos coin on October 24, 2019, 05:53:43 AM

Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

Congress is right in asking questions about how they are going to handle compliancy and strong identity verification, to which Zuckerberg answer

Quote

is going to have strong identity [verification] and work with all the regulators to make sure we’re at the standard of AML or CFT that people expect.

Zuckerberg wants to distance himself from the Libra coin because he is just one of the association that controls but the Congress hardly believe that, Libra coin and Facebook is difficult to be separated.

Libra coin will have a hard time and their launching is now in question if they cannot satisfy the regulators, so this is going to be a long series of discussions, let's see in the next hearing if they can satisfy the regulators.

Aabcde

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Mark already understood that if he continued Libra he would only spend money and time. While the US government has not yet given permission related to the project because it is later feared to be a place for sending money for terrorism and money laundering. In addition, many of their partners have resigned to support Mark's project.

Hippocrypto

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Quote from: DaMut on October 24, 2019, 06:35:55 AM

Of course, they need to terminate the project because there is no meaning in supporting a dead project. Regulation is important and life of the project if they want to be a regulated stablecoin, if they do not get their trust that means they will not be able to achieve their goal as regulated stablecoin and won't be able to perform as a regulated digital currency.
it is better to close the project and use a different approach other than supporting this if they do not get their trust.

Much better for them to withdraw their intentions to support for this project, since the US government has no plans to let this operate in their country. It would be not suitable for their residence, and based on the review more partners of this project given up their support for this due to complicated issues.

DaMut

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Of course, they need to terminate the project because there is no meaning in supporting a dead project. Regulation is important and life of the project if they want to be a regulated stablecoin, if they do not get their trust that means they will not be able to achieve their goal as regulated stablecoin and won't be able to perform as a regulated digital currency.
it is better to close the project and use a different approach other than supporting this if they do not get their trust.

counos coin

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Zuckerberg: if legislators’ trust is not gained, we will exit from project Libra
CEO of Facebook in a hearing in front of the Congress said that Facebook is no longer in the position of project controller and the operation of Libra is independent.
What do you think about this?

Topic: Zuckerberg: we will exit from project Libra !!!! (Read 282 times)