DO you see LIBRA Coin as a cryptocurrency or Not

[tonymillions84]

i just want to use this opportunity to ask the altcoin community there thoughts on the upcoming facebook coin. LIBRA.
Do you think that it is a cryptocurrency or just any financial project backed by governments.

what are your toughs on this.

[Brandon]

I think Libra is not a cryptocurrency because it is centralized.

[Debasco]

Yes, is an altcoins introduce via Facebook serve as investment and can also serve as medium of paying for service and product and many more

[abdmuiz]

I myself don't really care if Libra is considered Kiripto or not but that certainly will have a huge impact on the current market capacity and it will be very strong in the future Altecoin requires a strong ecosystem like Facebook

[Fenix]

Coin Libra refers to varieties of stable coins that are not full-fledged cryptocurrency. I believe that a full-fledged cryptocurrency is one that can bring profits to its owners by increasing its price. Stable coins do not have this feature. It looks like it will be one of the most powerful stable coins. Let's see how people will relate to her and how much they will trust her.

[corr]

It is difficult to predict whether this project will be supported by governments. one can say that this project is a large corporation with huge amounts of money. This project has already made noise in the market and largely due to this news on Libra, now cryptomarket again on all news. As you can see, crypto number one now shows stupendous growth. Really the one that worries is that Libra is behind which there are large corporations that are centralized

[zilzylian]

I don't think crypto can be controlled and supported by the government to get high prices in the future, a libra coin is a digital currency and they have a wallet called Calibra, but there are still many rejections from political members on this coin because they see many Facebook users in the whole world.

[sirty143]

I think Libra is not a cryptocurrency because it is centralized.

So, if a coin is centralized it's not a cryptocurrency. Well, it's your opinion but I think it's better if you can support it... or maybe you've read this article, Majority of Cryptocurrencies Can Be Classified as Centralized, Securities

[Zed0X]

Do you think that it is a cryptocurrency or just any financial project backed by governments.

Investopedia defines cryptocurrency as:

A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. Many cryptocurrencies are decentralized systems based on blockchain technology, a distributed ledger enforced by a disparate network of computers. A defining feature of a cryptocurrency, and arguably its biggest allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

https://www.investopedia.com/terms/c/cryptocurrency.asp

From the above definition, I guess we can say that libra is also a cryptocurrency since it also uses cryptography. It's not just the same with what we used to know and accept as "real cryptocurrency" and that is the decentralized network.

[Bobcrypto]

i just want to use this opportunity to ask the altcoin community there thoughts on the upcoming facebook coin. LIBRA.
Do you think that it is a cryptocurrency or just any financial project backed by governments.

what are your toughs on this.

Well, according to this news link: https://www.theguardian.com/technology/2019/jun/21/facebook-co-founder-warns-against-libra-cryptocurrency

Facebook says Libra is a 'global currency and financial infrastructure' - a digital asset built by Facebook and powered by a new Facebook-created version of blockchain, the encrypted technology used by bitcoin and other cryptocurrencies.

I think that Libra is a stable coin according the project plans, and it is not back by government but Facebook.

[mimikri]

I think Libra is not a cryptocurrency because it is centralized.

Even if it is centralized and stable, it is still crypto as it has all the features of cryptocurrency. I might payattention to this coin and get it for online operations. However, we will not earn on Libra.

[Tristanerus]

i just want to use this opportunity to ask the altcoin community there thoughts on the upcoming facebook coin. LIBRA.
Do you think that it is a cryptocurrency or just any financial project backed by governments.

what are your toughs on this.

This is really a contentious question which is still not yet been totally confirm that libra is a cryptocurrency. But since there's no central bank included I think libra coin is more likely considered as a cryptocurrency.

[Bobcrypto]

Yes, Libra coin is a cryptocurrency. Libra coin is built on an open-source blockchain called the Libra Blockchain featuring its own proof-of-stake protocol.
More info can be found here.
https://coinmarketcap.com/currencies/facebook-libra/

[sirty143]

About Facebook Libra

Libra is built on an open-source blockchain called the Libra Blockchain featuring its own proof-of-stake protocol. The Libra mission is to reinvent money and transform the global economy so people everywhere can live better lives.

Backed by a reserve of various assets designed to give it intrinsic value, it is governed by the independent Libra Association tasked with evolving the ecosystem. Members of the Libra Association consist of geographically distributed and diverse businesses, nonprofit and multilateral organizations, and academic institutions. Founding members include Mastercard, PayPal, Stripe, Visa, eBay, Facebook, Lyft, Uber, Spotify, Andreessen Horowitz, Vodafone Group, Kiva, Mercy Corps, Women's World Banking and more.

Facebook teams played a key role in the creation of the Libra Association and the Libra Blockchain, working with the other Founding Members. While final decision-making authority rests with the association, Facebook is expected to maintain a leadership role through 2019.

Source: CoinMarketCap

[Alcor]

I think Libra is not a cryptocurrency because it is centralized.

Even if it is centralized and stable, it is still crypto as it has all the features of cryptocurrency. I might payattention to this coin and get it for online operations. However, we will not earn on Libra.

Coin Libra is very difficult to attribute to cryptocurrency. This is not exactly a cryptocurrency, since it does not fulfill the basic function of a cryptocurrency - it cannot bring profit to its owners. This is actually the usual currency in the digital shell. The digital shell formally gives reason to refer it to cryptocurrency, but in its essence it is still fiat.