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IS Facebook Libra Coin Bad For Crypto?

Is Facebook’s Libracoin unhealthy for crypto?

That relies upon, what is sweet and what’s unhealthy?

Facebooks Libra coin and their entrance into the cryptocurrency markets has many good qualities and plenty of unhealthy qualities and so it will depend on what you are making an attempt to optimize for. There are hundreds of cryptoassets every with their very own attributes, every aiming for various makes use of, in several elements of the market. Facebook coin seems to be optimizing for very particular attributes and I consider this may be excellent for the cryptocurrency house nevertheless it can be very unhealthy.

Tune in and listen to my case for good and for unhealthy and let me know what you assume

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30 Comments

  1. I am not a fan of Libra. Too much power in the hands of corporations that promote banning, censorship and privacy violations. This is not what I signed up for. I believe this will create an unholy union between governments and corporations even more than it has been. It just makes it more public and in the open.

  2. First, great video! Now, just FYI because I think you would want to be told – Several places in this video your sound became muffled. I think your body was pressing into the mic. A couple of places were around 5:00 and about 9:30 and then a couple other places. All of your videos are always so crisp and clear with the best sound of about anyone I listen to, so just wanted you to know.

    As for FB, I do not trust them at all; but, then, nor do I trust Maxine Waters. lol I would rather FB stay out of crypto, but I guess it's a little late for that. I think in the long game maybe they won't hurt the space; I just hope they don't hurt a lot of people more than they already have.

    Do you hold any privacy coins (you don't have to answer that). My real question is this: Do you think we should invest in privacy coins considering they could possibly be banned in the future?

  3. Nice video as usual Mark.
    You broach the issue of privacy coins but you fail to mention the new kid on the block – which soon will be the king of the hill. Take a real close look at Pirate ARRR (the most private of the private coins) if you haven't already.
    I think what may happen is that in the future crypto users will be split in two groups Libre users and true crypto believers. This will parallel the division between Linux and Microsoft.
    Interesting times ahead.

  4. 80/20 good.

    To cut to the chase, billions of new users will be exposed to the emerging brave new world of cryptocurrencies plus the numerous properties they deliver (properties that fit many ideologies).

    Yep..crypto is still emerging. We all know this is a long road and we've only just departed!

    As always, great video Mark.

  5. If Libra is a stable coin and facebook users can buy bitcoin with it, then bitcoin just needs to go a little bit parabolic and FOMO as we havent seen it yet will kick in. Remember 2.4 Billion new potential Bitcoin buyers. It's going to be epic.

  6. Overall, I believe it will be positive for bitcoin. At the very least, the move by fb forces politicians & legislators to finally clarify their positions on crypto assets. If given the green light, Libra will likely serve as a “gateway drug” of sorts – exposing people to crypto who may never have been otherwise. Some will be satisfied with the services Libra provides & never move on to the “hard stuff.”

    As Bitcoin believers, we need to educate our newbie friends & family about true financial sovereignty. When a fraction of the libra adopters start to also adopt BTC, worldwide adoption seems inevitable!

  7. Actually it does not use a blockchain to handle transactions like bitcoin. Blockchain is just a marking word they are using. It's kinda like calling iota or ripple a blockchain. Great video!!!

  8. Think it’s good to get more of the public into crypto but I’m not a big fan of FB & were this could go. It’s a little scary how much power FB has & just think if they become a bank

  9. FB Libra Good and Bad. Good for crypto awareness bad for the banks and probably us. Thing is , where you say BTC is not a company and is more immune to intervention…… What could governments do to shutdown BTC if they got desperate. What if they shutdown all exchanges, passed laws to make it illegal to trade,own and hold BTC?

  10. Thank you Mark, I highly value your insight. However, while this may end up helping Bitcoin, can the same be said for Altcoins? I have heard some YouTuber’s like Altcoin daily have decided to liquidate their positions into Bitcoin, because they don’t believe these Altcoin startups will be able to compete with Facebook.

  11. Mark. Great video as always. I believe in the grand scheme of things it will be a good thing for bitcoin and cryptocurrency's in general. IMO the Facebook coin is a new way to exploit people's spending habits, their personal information and ultimately another way to collect large amounts of data of people's lives with or without them realizing. The Facebook coin itself I think is bad, think there is more to it. Sorry for being in the middle but that is how I feel on that matter. So ultimately a good thing in general. Thank you again for all your hard work!

  12. Hi Mark, am an avid follower of your Channel. Thank you for all the brilliant Information. For 2 years now I have been self-educating on Crypto and feel passionate in the space. I am wanting to get involved in regards to getting a Job but what I am finding is that the Jobs are mostly in the area of Coding which I am not familiar with. Would you be able to Point me or have suggestions on where to go to get a start in the industry? Always appreciate your content. Thanks for sharing. Regards Dietmar

  13. And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of SCALES in his hand.
    And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine….
    ~~ Revelations 6:5-6 ~~

  14. Mark Moss, love your perspective…always have. It was going to be called Global Coin. What's in a name…perhaps nothing. Zuckerberg ain't about freedom and I don't see his project as pushing freedom as say you or Jeff Berwick. But I do believe this will put cryptocurrency into overdrive. Good for all those who want to left alone to "do them". Good video as always.

  15. For me? Libra looks good so far, but I have concerns. I hope it will reduce friction when moving money between countries.

    I agree with your idea libra might be a bridge to other crypto.

    I speculated a couple weeks ago that Zuckerberg thinks that this is his opportunity to stop from getting his company broken up by showing how serious he is about privacy.

    How concerned are you about the limited number of nodes?

  16. In my opinion, any new idea (product, service, or currency/coin etc) needs to be a good solution to a problem to be successful in the long term. As far as developed countries like the US goes, I don’t think there is enough of a problem with the current way of doing things for people to feel like they need to use Libra, to solve their problem and/or make their life better in some way. eg. We can already pay for things easily with a card at a store or transfer money online using Venmo or PayPal etc. So I don’t personally see how my life in the U.S. would be much better by having/using Libra. That’s not to say I won’t be proven wrong or won’t ever change my mind though. But at the moment, I don’t see, or at least understand, the benefits/necessity of Libra.
    As far as Libra being a solution for the “unbanked” population of the world goes, I can’t help but wonder, if those people are “unbanked”, how are they going to even get/purchase Libra if they don’t have a bank account to begin with(?). Maybe I’m missing something. I assume the smart people involved in the development of Libra have already figured that out.
    I think Libra will face a steep/tough uphill battle when it comes to overcoming significant regulatory challenges.
    I’m very curious to see how it plays out, and what effect it has on Bitcoin over the next 1-5 years.
    Keep up the great content!

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