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Author Topic: Bitcoin Falls as Facebook Warns Libra Might Never Launch  (Read 27880 times)

Online sirty143

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Bitcoin Falls as Facebook Warns Libra Might Never Launch
« on: July 31, 2019, 04:20:59 PM »
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

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Bitcoin Falls as Facebook Warns Libra Might Never Launch
« on: July 31, 2019, 04:20:59 PM »

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Offline Bobcrypto

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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #1 on: July 31, 2019, 08:46:34 PM »
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

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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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #2 on: August 05, 2019, 06:03:39 AM »

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.

Offline Alcor

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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #3 on: August 26, 2019, 10:57:22 AM »
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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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #4 on: August 26, 2019, 10:40:36 PM »
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.

Offline Bobcrypto

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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #5 on: September 07, 2019, 10:18:32 PM »
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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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #6 on: September 16, 2019, 07:37:24 AM »
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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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #6 on: September 16, 2019, 07:37:24 AM »


Offline Bobcrypto

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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #7 on: September 18, 2019, 04:37:35 PM »
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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Offline vegasus

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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #8 on: September 21, 2019, 11:46:03 PM »
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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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #9 on: January 17, 2020, 09:42:17 AM »
“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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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #10 on: January 18, 2020, 03:59:49 PM »
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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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #11 on: January 18, 2020, 05:09:02 PM »
“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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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #12 on: April 24, 2020, 06:41:04 AM »
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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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #13 on: April 29, 2020, 05:37:03 PM »
Libra is apparently getting a redesign 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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Re: Bitcoin Falls as Facebook Warns Libra Might Never Launch
« Reply #14 on: May 13, 2020, 05:31:08 AM »
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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