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MrNice23

Facebook Coin ?

How do you feel about Libra ?  

11 members have voted

  1. 1. How do you feel about Libra ?

    • Great for crypto market
      5
    • Bad for crypto market
      0
    • Don't trust FB with my privacy let alone my cash
      5
    • Indifferent
      1


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Posted (edited)

Here we are , Mark Zukerberg owner of Facebook is launching his "fb coin" called Libra.  Well i'm not so excited by this new coin or token , i'm not sure it will be a good thing for crypto market especially for other altcoins that have less funds to advertise , promote and it will be hard to beat a group which has already a huge community , don't forget that  apps like what's app, instagram are owned by Facebook...


So guys and girls how do you feel about Libra  - your participation will be much appreciated!


 

Edited by MrNice23

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Basically he wants to demand verification for Libra, so that all libra users will be well known =/

I do not like that at all since crypto currencies are all about being anonymous at first place.

Also i read they want to have a stable value...

No clue what kind of crypto is that at all lmao...

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Facebook always have a loop hole and our information is not always safe with it. It is so so annoying. There is no need for Mark to delve into the crypto world. He does everything solely for himself and trust me your funds will be monitored. All the transaction you make too will be monitored and that is not what the crypto world is all about.

Overall, I don't think it is a great idea, and it will not be used by a lot of people because of the buts it comes with it.

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it think the whole idea of he coin is a joke in a way... ᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎alike as if they are missing out on aanything lol they are too big as it is... damn fb

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Posted (edited)

You might consider reading this topic at Bitcointalk "Facebook coin Libra already targeted by US government":
https://bitcointalk.org/index.php?topic=5155972.0

Also check replies and you will see how the community feels about it.

Edited by DreamStage

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You probably know that Facebook prohibits most advertising activities and shares information related to Cryptocurrency. All ads are removed from FB by the command that the platform offers. So why did the FB create Libra? I don't believe in FB.

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What i can add to my opinion is that Mark Zukerberg the guy who banned crypto from his "social network" launching his libra token is just proving  his hypocrisy but this is business , well he is smart.

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A lot of people do not trust Facebook, but remember that they are one of 27 companies forming this coin. So I assume they will have 1/27 vote in decisions regarding this coin. So hopefully that gives all of you some peace of mind :)

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1 hour ago, MrNice23 said:

What i can add to my opinion is that Mark Zukerberg the guy who banned crypto from his "social network" launching his libra token is just proving  his hypocrisy but this is business , well he is smart.

Well it isnt mark who might have done that because there can be other people who have done that since there are heads for every department to run the company so they might have done that.

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1 hour ago, davincuy said:

i dont think that Libra cant defeated Bitcoin :D but there is an opportunity like the Libracoin will pumps up when it release since the owner was Mark Zuckerberg

It is going to be a stable coin because why not ? They said that they are going to make it available as an option for payment around the globe so it should be stable.

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Doubtful I will ever use it. I feel like I already gave out way too much info to facebook. Altough I have a facebook account but I rarely do antything there anymore, but I got a feeling they read the chats too lol.

But as a way for adoption of cryptocoins it may be a good way for a huge population to get to know blockchain technology.

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Pros:

  • -stablecoin - good for merchants, cause price doesn't change from day to day so much
  • -fast and small fees
  • -easy conversion from any fiat to libra coin
  • FB has 2.5 billion users. Plenty of people will hear about cryptocurrencies. It will be another reason for coming BTC pump.

 

Coins:

  • Libra is not decentralized coin (validators as master node)
  • not anonymous in any way (FB see everything, who sent, who , how much, when, etc). If FB has this information, Government has it also.
  • It's even not based on proper blockchain technology.
  • Government has his fingers in it, by securing finance stability. Quote from whitepaper :
Quote

Libra’s value will be pegged to a basket of bank deposits and short-term government securities & kept in a Libra Reserve which would be responsible for the exchange between Libra coins & fiat currencies.

 

So I will definitely not use this coin. Government has created new coin and make marketing using biggest social platform available. It's just against basic ideas of crypto currencies.

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FB created Libra has opened up a new opportunity for Cryptocurrency. With more than one billion users of this platform, access to Crypto is an opportunity when we will welcome a large number of new investors to join Crypto. FB is opening up opportunities for Bitcoin, and Crypto can develop after a long time without positive effects.

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8 hours ago, nuvong said:

FB created Libra has opened up a new opportunity for Cryptocurrency. With more than one billion users of this platform, access to Crypto is an opportunity when we will welcome a large number of new investors to join Crypto. FB is opening up opportunities for Bitcoin, and Crypto can develop after a long time without positive effects.

As just someone stated which i find odd to do: Facebook opens up with this Libra coin thing but you need to remember they were the ones causing panic to everyone who wanted to advertise...

Just like Primedice had issues advertising it or any other crypto.

Also you have the issue that it's going to be centralized thing =/

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if I personally, I just keep up with developments. Speculation of the development of digital coins is busy talking after last year Facebook appointed former PayPal executive David Marcus to explore opportunities for blockchain, a technology that supports cryptocurrency.

Some outlets have reported that the company has built its own digital currency, where users can store, trade and exchange regular currencies, in part through Facebook applications including Messenger and WhatsApp.

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Posted (edited)
On 21/06/2019 at 06:54, sheenaz.bay said:

if I personally, I just keep up with developments. Speculation of the development of digital coins is busy talking after last year Facebook appointed former PayPal executive David Marcus to explore opportunities for blockchain, a technology that supports cryptocurrency.

Some outlets have reported that the company has built its own digital currency, where users can store, trade and exchange regular currencies, in part through Facebook applications including Messenger and WhatsApp.

I also heard some of those specially coming from Pay Pal.

Nevertheless it were just speculations and we really need to wait for the US Government to give a confirmation to Facebook for the Libra release.

If Pay Pal and WhatsApp grab such that will be huge in terms of finnancial profit to them if they do tax it somehow.

Edited by DreamStage

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Posted (edited)
On 19/06/2019 at 19:45, natypol said:

You probably know that Facebook prohibits most advertising activities and shares information related to Cryptocurrency. All ads are removed from FB by the command that the platform offers. So why did the FB create Libra? I don't believe in FB.

i think they started allowing crypto based ads again a little before the libra thing was released or announced.. i guess they did it to avoid criticism.  

Edited by Eminx3
added more to comment

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Posted (edited)
On 23/06/2019 at 22:11, Eminx3 said:

i think they started allowing crypto based ads again a little before the libra thing was released or announced.. i guess they did it to avoid criticism.  

You can verify such statement on the following links:

https://dashnews.org/facebook-further-rolls-back-cryptocurrency-advertising-ban/

https://www.vox.com/2018/6/26/17505876/facebook-cryptocurrency-ads-bitcoin-ico-ban-reversed

https://techcrunch.com/2018/06/26/facebook-reverses-its-crypto-ad-ban/

Edited by DreamStage

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