Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: mlawson71 on September 19, 2019, 04:13:43 PM
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The German government delivered another blow to Libra - according to its new strategy the cabinet in Berlin stated that while the block chain technology holds great potential, it should not be used to develop private forms of money.
“A core element of state sovereignty is the issuance of a currency, we will not allow private companies to do it,” German Finance Minister Olaf Scholz commented on the government's decision.
The German stance reflects similar concerns expressed by France and the skepticism in Washington.
Source (https://www.forexbrokerz.com/news/Germany-will-block-facebook-libra)
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I think it's natural that if every country rejects the presence of Libra coins, we can see how cryptocurrency has begun to upset many governments because there are already many investors who choose to use crypto for digital assets, as well as to make payments.
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The governments are afraid of Facebook's Libra. And I get it. I must tell that I am not fan of libra, but like a man says: Imagine you are going to the pub with your friend and you forget your money. it is easier for you to send the money to your friend with Facebook Libra than send him money to his bank account.
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I think it is like politics, why they don't want Libra to be a great coin? It is a big question? Since USA declared to ban Libra, I see other countries following the same way. I suspect there is a drama behind this ban. I think some countries afraid that Libra will compete with Dollars.
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There are country's governments that have a negative position to hold cryptocurrency, like bitcoin in their territory, and you can't blame them because they knew for the fact cryptocurrency destroy corruption... so they don't want that to happen. ;D
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Since USA declared to ban Libra,
Did they? I know President Trump made some tweets and US lawmakers suggested to postpone the Libra launch until Facebook settles their previous issues. There are also some proposals to ban but I did not read an official declaration. Can you link me to it?
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I think Facebook don't care for any ban
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I think Facebook don't care for any ban
On the contrary, they do care about the planned banning of Libra that's why they have issued statements like they are willing to cooperate with government authorities in the past. The approval is vital to them.
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I think libra has turned to be a treat to many nations, hence there are fears that Libra will take over most national currencies of the world. Obviously, there may be some soft landing ground for Facebook libra project in months to come, and libra team may cooperate with the US government in certain areas for a successful launch.
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The German government delivered another blow to Libra - according to its new strategy the cabinet in Berlin stated that while the block chain technology holds great potential, it should not be used to develop private forms of money.
“A core element of state sovereignty is the issuance of a currency, we will not allow private companies to do it,” German Finance Minister Olaf Scholz commented on the government's decision.
The German stance reflects similar concerns expressed by France and the skepticism in Washington.
Source (https://www.forexbrokerz.com/news/Germany-will-block-facebook-libra)
Keep calm mate. I think facebook libra is one of very potential coin, because facebook behind them. If German will block libra, It is not problem.. Libra will accept at another country. I believe libra will more popular at the coming future
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If libraries are an add-on to cryptocurrency, that would be good. I think libraries should be discussed urgently with a Facebook adviser. If you add libraries to cryptocurrency, Facebook campaign and marketing will be good.
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I believe that such actions by the German government in relation to the prohibition of the circulation of the Libra private stable coin are absolutely correct. The stability of the global financial system cannot be privately held. Then this can lead to the fact that states will be forced to maintain this stable coin and help private business, for fear of unsettling the prevailing global financial stability. Global stable coins should be issued by states, and even better, by a group of states.
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The German government delivered another blow to Libra - according to its new strategy the cabinet in Berlin stated that while the block chain technology holds great potential, it should not be used to develop private forms of money.
“A core element of state sovereignty is the issuance of a currency, we will not allow private companies to do it,” German Finance Minister Olaf Scholz commented on the government's decision.
The German stance reflects similar concerns expressed by France and the skepticism in Washington.
Source (https://www.forexbrokerz.com/news/Germany-will-block-facebook-libra)
I think It is natural, If the germany will block libra. I see many country doubt about crypto currency. They are fear, because they cannot to control the digital currency. So, It is the reason why several country blocked crypto. But I believe no one can refuse the technology.
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I am sure that the German state refuses to LIBRA because it is afraid of the progress of technology that endangers the German state with a decentralized system.
But I am also sure that Germany will raise its rating on cryptocurrency, including creating special coins specifically for Germany. IMO
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Germany may be a prosperous and surplus country that does not have a lack of funds and certainly Germany does not want to have a worthless value if LIBRA is disbursed and circulated in that country.
If it is true that LIBRA is supported by Facebook, maybe now LIBRA has been launched and traded in various exchanges, in fact LIBRA has actually sunk and there are many slanted news, hmmmppp.
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Most of the countries are afraid in losing of their profits that would come from Banks and Public investments because they start to store money in these Digital currencies. First these countries will play like this as they did to Bitcoin in the same manner and later they themselves allow to adopt Libra.
I am waiting for the pre-launch to see how many people will start using it.
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The German government delivered another blow to Libra - according to its new strategy the cabinet in Berlin stated that while the block chain technology holds great potential, it should not be used to develop private forms of money.
“A core element of state sovereignty is the issuance of a currency, we will not allow private companies to do it,” German Finance Minister Olaf Scholz commented on the government's decision.
The German stance reflects similar concerns expressed by France and the skepticism in Washington.
Source (https://www.forexbrokerz.com/news/Germany-will-block-facebook-libra)
Many country afraid about crypto currency. If Germany will block facebook libra, I think the country afraid their currency will drop. Because The cryptocurrency will be more dominant at the coming future. So, I believe cryptocurrency will be moree needed.