Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: tonymillions84 on June 25, 2019, 08:25:33 PM

Title: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: tonymillions84 on June 25, 2019, 08:25:33 PM
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.
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: Brandon on June 25, 2019, 08:28:47 PM
I think Libra is not a cryptocurrency because it is centralized.
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: Debasco on June 26, 2019, 12:26:16 AM
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
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: abdmuiz on June 26, 2019, 01:02:15 AM
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
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: Fenix on June 26, 2019, 07:09:52 AM
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.
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: corr on June 26, 2019, 05:08:28 PM
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
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: zilzylian on June 26, 2019, 05:55:40 PM
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.

Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: sirty143 on June 27, 2019, 05:32:32 AM
Quote from: Brandon on June 25, 2019, 08:28:47 PM
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 (http://Majority of Cryptocurrencies Can Be Classified as Centralized, Securities)
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: Zed0X on June 27, 2019, 09:37:48 AM
Quote from: Tonymillee on June 25, 2019, 08:25:33 PM
Do you think that it is a cryptocurrency or just any financial project backed by governments.

Investopedia defines cryptocurrency as:
Quote
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.
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: Bobcrypto on June 27, 2019, 01:34:04 PM
Quote from: Tonymillee on June 25, 2019, 08:25:33 PM
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.
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: mimikri on June 27, 2019, 10:22:18 PM
Quote from: Brandon on June 25, 2019, 08:28:47 PM
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.
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: Tristanerus on June 28, 2019, 11:44:27 AM
Quote from: Tonymillee on June 25, 2019, 08:25:33 PM
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.
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: Bobcrypto on June 28, 2019, 01:06:07 PM
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/
Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: sirty143 on June 28, 2019, 02:54:01 PM
Quote
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 (https://coinmarketcap.com/currencies/facebook-libra/)

Title: Re: DO you see LIBRA Coin as a cryptocurrency or Not
Post by: Alcor on June 30, 2019, 10:26:56 AM
Quote from: mimikri on June 27, 2019, 10:22:18 PM
Quote from: Brandon on June 25, 2019, 08:28:47 PM
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.