Facebook currency libra

Facebook's Libra cryptocurrency faces more backlash
The Indian government has joined the Libra pushback, a report says.

In April 2018, all entities regulated by the Reserve Bank of India were banned from dealing in cryptocurrencies and virtual coins, although individuals trading currencies like bitcoin remains legal.

India considering not allowing the currency to be traded at all, according to a Bloomberg report Monday.

There seems to be increasing regulatory discussion over crypto. I think this could be good in the long run but may cause problems for the current crop of cryptos. Libra could be best placed to take over

Fed Chair Jerome Powell said : Facebook’s cryptocurrency raises - I have ‘serious concerns’ with Facebook’s crypto plans

frankmartin1 posted:
Fed Chair Jerome Powell said : Facebook’s cryptocurrency raises - I have ‘serious concerns’ with Facebook’s crypto plans

Do you know? Libra is a stable coin? This is why, I don’t think it’ll be effective to the retail investors!

@AniLorak did you mean stable coin wouldn't effect on investment markets?

Anyway, just trying to guess what could be! Thanks, everyone for a participant. 😐

frankmartin1 posted:
@AniLorak did you mean stable coin wouldn't effect on investment markets?

Basically; retail investors aren’t interested about stable coin since the prices are stable here!

AmDiab posted:

frankmartin1 posted:
@AniLorak did you mean stable coin wouldn't effect on investment markets?

Basically; retail investors aren’t interested about stable coin since the prices are stable here!

That means there is no chance for ICO & IEO, isn’t ?

As I see; now Libra is on huge trouble; because of regulation issue!

well, that was going to happen one day, was very sure of that. such a big company launching had to be restricted.

regulators want to shut it down, but if you actually look into the finer details, libra would be buying government debt (t-bills) from several nations for a somewhat stable value. The issue still remains that you are buying essentially IOU's and expecting it to work out in the end.

PayPal pulls out of Facebook's Libra cryptocurrency

PayPal has become the first company to drop out of Facebook’s Libra cryptocurrency, as the embattled project continues to face queries from regulators around the world.

The only thing I see on these crypto's, is to vast amount of money laundering and large scale of fraud behind it.
Further than that, I don't see really an advantage of these things.

BartenderFX posted:
The only thing I see on these crypto's, is to vast amount of money laundering and large scale of fraud behind it.
Further than that, I don't see really an advantage of these things.

Really? But I see; day by day the peoples are adding on. In addition, I liked the principle of BTC. My money means my money!

I am totally agree it will not work out. All this currencies simply do not work at all eithier anyway no matter how do you look at it. Can we change something like that or not? You need to create a lot more backed by real money system on that.

Very interesting what they are doing now in that certain manner for everything else out there, now it's COVID panic and people clearly use digital channels for information and about something like that unusual currency which many do not need at all.

The whole show is good info, but Libra starts from 54:00 (following the white paper https://libra.org/en-US/white-paper/ )

So how does Libra fit into The Plan of the Clans?
Listen from 55:00:

It'll die. there is no reason for it to live.