Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: sirty143 on July 31, 2019, 04:20:59 PM
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Investing.com - Bitcoin fell on Tuesday in Asia after Facebook (NASDAQ:FB) said in a report that Libra might not “be made available in a timely manner, or at all.”
Bitcoin dropped 2.6% to $9,517.9 by 12:15 AM ET (04:15 GMT). Litecoin fell 1.6% to $89.133, while Ethereum was down 3.3% to $205.25. XRP slipped 1.2% to 0.30800.
In its latest quarterly report, Facebook warned a number of factors could hinder the expected launch of its own cryptocurrency, Libra.
The company originally planned to launch the digital coin in 2020.
“Libra has drawn significant scrutiny from governments and regulators in multiple jurisdictions and we expect that scrutiny to continue,” Facebook said in its filing with the Securities and Exchange Commission.
“In addition, market acceptance of such currency is subject to significant uncertainty. As such, there can be no assurance that Libra or our associated products and services will be made available in a timely manner, or at all. We do not have significant prior experience with digital currency or blockchain technology, which may adversely affect our ability to successfully develop and market these products and services,” the social media giant added.
Source: THE VERGE (https://finance.yahoo.com/news/bitcoin-falls-facebook-warns-libra-000700392.html)
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Investing.com - Bitcoin fell on Tuesday in Asia after Facebook (NASDAQ:FB) said in a report that Libra might not “be made available in a timely manner, or at all.”
Bitcoin dropped 2.6% to $9,517.9 by 12:15 AM ET (04:15 GMT). Litecoin fell 1.6% to $89.133, while Ethereum was down 3.3% to $205.25. XRP slipped 1.2% to 0.30800.
In its latest quarterly report, Facebook warned a number of factors could hinder the expected launch of its own cryptocurrency, Libra.
The company originally planned to launch the digital coin in 2020.
“Libra has drawn significant scrutiny from governments and regulators in multiple jurisdictions and we expect that scrutiny to continue,” Facebook said in its filing with the Securities and Exchange Commission.
“In addition, market acceptance of such currency is subject to significant uncertainty. As such, there can be no assurance that Libra or our associated products and services will be made available in a timely manner, or at all. We do not have significant prior experience with digital currency or blockchain technology, which may adversely affect our ability to successfully develop and market these products and services,” the social media giant added.
Source: THE VERGE (https://finance.yahoo.com/news/bitcoin-falls-facebook-warns-libra-000700392.html)
Hi friend, the prices of bitcoin does not depend on Libra information or news as stand in the current market situation, because bitcoin has been able to resist all negative news or information about Libra coin and other projects. As at the time of writing this post, bitcoin has crossed $10000, and i think that bitcoin is beginning to wace stronger irrespective of negative news.
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Hi friend, the prices of bitcoin does not depend on Libra information or news as stand in the current market situation, because bitcoin has been able to resist all negative news or information about Libra coin and other projects. As at the time of writing this post, bitcoin has crossed $10000, and i think that bitcoin is beginning to wace stronger irrespective of negative news.
Yes, I believe you too. Bitcoin will be able to weather off any negative news that has come out like mushrooms nowadays and will continue to flourish today, tomorrow, and the years to come.
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I do not think that the drop in the price of Bitcoin is directly related to information about problems with the Libra project. This stable coin really may not even appear. However, the idea itself has already been launched and it will come true. Moreover, it is most likely that China will pick up this idea. His government has already announced the creation of its similar cryptocurrency.
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The presence of LIBRA indeed makes some people say that this will disturb Bitcoin, because Libra is a Coin Created by Facebook Social Media, which is actually Facebook is the largest social media in the world and has a very large number of Members, but in fact LIBRA News has become a maze. But that does not mean that the price of Bitcoin has decreased and this price increase is due to news about Libra, Bitcoin Investors and Traders do not pay attention to LIBRA, because Libra is a stable coin that many people don't like.
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I don't think that the Facebook libra coin announcement has any impact on bitcoin price as many people thinks: bitcoin and altcoins has been known to fluctuate especially at most negative and positive news plus certain market specution and the deman and supply principles. Certain periods, the market prices wiil go up or down and this have nothing to do with libra coin planned project.Remember that before the talked obout libra project, bitoin has fluctuating and will always remain like this for a long time to come.
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The presence of LIBRA indeed makes some people say that this will disturb Bitcoin, because Libra is a Coin Created by Facebook Social Media, which is actually Facebook is the largest social media in the world and has a very large number of Members, but in fact LIBRA News has become a maze. But that does not mean that the price of Bitcoin has decreased and this price increase is due to news about Libra, Bitcoin Investors and Traders do not pay attention to LIBRA, because Libra is a stable coin that many people don't like.
Agreed. Although not yet released in full, Libra is no more than other stable coins which are only used as additional options to secure digital assets from volatility. I don't think it has any effect on the price of cryptos and I think the price of BTC which dropped some time ago has nothing to do with this news at all, even if FB lawfully states that Libra is not being released.
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In addition, the fluctuations in the prices of bitcoin and altcoins in general has been known to be volitile and the libra launch has no effect on the price. If you take a look at 2018 up till early 2019, bitcoin has been experiencing ups and down movement, unfortunately libra was not known then. I think bitcoin and the libra coin are on defferent mission all together.
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the prices of bitcoin does not depend on Libra information or news as stand in the current market situation,
Yes, Bitcoin price doesn't depend only on Libra issue. It has been proven to always improve on every condition. Even if no Libra in the future, Bitcoin can still improve and increase the value. I am sure about this since Bitcoin has no problem even no Libra for many years.
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“Libra has drawn significant scrutiny from governments and regulators in multiple jurisdictions and we expect that scrutiny to continue,”
It seems very true that LIBRA has tight guard and it is very good to be monitored until LIBRA launches its coins in the market.
If a coin that does not have close supervision then I believe this will be a very complicated choice because the word "complicated" can be full of drama between pump and dump or success and Scam!
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seems there is no chance to launch libra this year.. There is no announcement about it.. so libra is just a dream.
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“Libra has drawn significant scrutiny from governments and regulators in multiple jurisdictions and we expect that scrutiny to continue,”
It seems very true that LIBRA has tight guard and it is very good to be monitored until LIBRA launches its coins in the market.
If a coin that does not have close supervision then I believe this will be a very complicated choice because the word "complicated" can be full of drama between pump and dump or success and Scam!
It might work as a Stable coin so people won't make money from Libra. I am hoping it will get launched ans remain like XRP, but we have to see what will happen on its launch. I have only one thing that Libra can't do anything to Biotcoin.
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seems there is no chance to launch libra this year.. There is no announcement about it.. so libra is just a dream.
The longer a pause is kept in the Libra project, the less likely it is to start this project at all. I am inclined to believe that this project is almost dead. He met too strong resistance from the countries of the European Union and the USA and the appearance in the near future of many stable coins of various states would make the Libra project simply unnecessary.
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Libra is apparently getting a redesign (https://www.forexbrokerz.com/news/facebooks-libra-proposes-multiple-single-currency-stablecoins) to avoid all the regulatory pushback - it will include multiple versions of the proposed stable coin, each backed by a single fiat currency like the Euro or the U.S. dollar. So it might still launch, time will tell.
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The design for Libra has since been slightly revised. Now, Libra will put out a bunch of fiat-pegged stablecoins, and the value of the Libra coin will be pegged to these stablecoins. Whether the changes will be enough to soothe the ire of regulators is uncertain. The Association surely hopes that Levey will sort things out.
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I didn't think that Libra news affect Bitcoin price , there is many reasons behind it like it's demands , buying and selling orders who affect Bitcoin price .
I think if after libra launch then we can't see it's affect on Bitcoin .
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I support libra. There is a lot of research going on to accelerate libra change. But I think it will be able to return to a stable position if it changes very soon.
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Didn't they redesign Libra (https://www.forexbrokerz.com/news/facebooks-libra-proposes-multiple-single-currency-stablecoins) to avoid this? Did not work out?
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It is unlikely that a temporary drop in the price of bitcoin by a few percent in July last year was due to the statement that a stable Libra coin might not appear at all. This, most likely, coincided with the manifestation of the usual price volatility of bitcoin. I even doubt how beneficial it is for a decentralized cryptocurrency to have such a stable coin as Libra. This will appear a powerful competitor for cryptocurrency as a means of payment. At the same time, Libra has not yet been released. Over time, their relevance falls against the emergence of national stable coins of states, such as the digitized Chinese yuan.
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I didn't think that there is any effect of libra announcement on bitcoin price , infact I think Libra may be pump in Bitcoin price whenever they started jounery in Crypto market .
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I also listen about that the libra coin is not going to be launched but i hope so that libra coin may be in future will be launched becasue future world money is just the crypto coins.
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It is unlikely that a slight drop in the price of bitcoin by two percent was then associated with a similar decadent statement on the Libra project. There are so many different kinds of stablecoins out there that Libra's appearance or non-entry into this market doesn't really matter. Now most states are considering the possibility of creating their own national stablecoins, and there will be so many of them that it will be necessary to create a separate table, similar to CoinMarketCap, so that it is convenient to use them separately from the decentralized cryptocurrency.
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Always remember that bitcoin price is not depend on other crypto related news or something like that. We should remember that bitcoin is the first Crypto currency in the world. Alt coin depend on bitcoin most of the time but not bitcoin.
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Libra was billed by Facebook (FB) as a global currency, backed by a basket of assets, that will help millions of people around the world have greater access to basic banking services.
Bank of England's Carney warns Libra: 'This is not learning on the job stuff' It was also expected to be usher in a new era of collaboration between the world’s major tech firms: Some 28 companies had initially agreed to join the consortium for the much-anticipated cryptocurrency project.
But increasingly regulatory scrutiny, including probes from the EU’s antitrust regulator and warnings from privacy watchdogs, has eroded trust in the project.
The Bank of England’s Financial Policy Committee, meanwhile, said that it would assess the risks of cryptocurrency projects like Libra.
“This is not learning on the job stuff,” Bank of England governor Mark Carney said in July. “It’s got to be rock solid from the start or it’s not going to star
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You can't imagine that LIBRA hasn't been launched on the market until now, I don't know what Mark Zucerberg feels like!
If Mark Zuckerberg is not responsible for what is happening now to LIBRA then it looks like he will get ridicule from cryptocurrency lovers.
The logic is that this is like a lure and not worthy of being followed by any other rich person.
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But if you see the news that the OP has written, now it has turned around.
Look at the market, Bitcoin took off until it broke the price of 23,736 USD and that is a very expensive value.
Meanwhile, LIBRA is now sinking without a word of new or beautiful news. It's a shame from LIBRA considering Bitcoin already has a new ATH.
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Libra is a stable coin and i hope when this coin is released that will not effect on the BTC coin becasue the Libra coin will just use for the Facebook ads campaign and the Facebook users will just use this coin.
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The bad news is that it is very unfriendly to LIBRA because this will have a very unfriendly effect for Bitcoin so that there is a Dump.
I hope this will give a good change for everyone in the future because after bad news there will definitely be good news from every online media.
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The bad news is that it is very unfriendly to LIBRA because this will have a very unfriendly effect for Bitcoin so that there is a Dump.
I hope this will give a good change for everyone in the future because after bad news there will definitely be good news from every online media.
I do not think that the release of the stablecoin Libra, even if it did take place, would somehow significantly affect the price of bitcoin. After all, there was no point in investing in Libra, this coin, by its nature, cannot be profitable. Therefore, it cannot be a competitor to bitcoin and other cryptocurrencies.