Libra - A global cryptocurrency by Facebook

NO!!! NO!!! NOOOO!!! Facebook has NO RIGHT to make a currency.... This is a BAD IDEA and a CLASSIC SHAM by MODERN DAY "WALL STREET" aka BIG TECH. I am NOT a fan or a supporter. In fact, I'm calling congress and asking them to BAN it. PROBLEMS... LET's REMEMBER: - Facebook takes "aka STEALS" data from users globally and historically made their terms complex and misleading - US democracy was interfered with via Facebook Ads from foreign bad actors to get Trump elected - The "Facebook Economy" is a horrible engine creating massive amounts of centralized power to Facebook, spinning up scammy businesses, and providing "fake" identity systems - Mark Zuckerberg is a rich billionaire and he has too much power. He exploited internet loopholes and psychology and should be paying more in taxes - Facebook needs to be shut down. I honestly don't like spending time on it. SOLUTIONS - Estonia e-Estonia (https://e-estonia.com) - PROPER E-GOVERNANCE => https://e-estonia.com/solutions/... - PROPER GOVERNMENT IDENTITY => https://e-estonia.com/solutions/... - PROPER E-BUSINESS => https://e-estonia.com/solutions/... - PROPER CYBERSECURITY => https://e-estonia.com/solutions/... - PROPER GLOBAL INTEROP => https://e-estonia.com/solutions/... A good government would have been looking at this back in 2017 => https://www.engadget.com/2017/12... I FULLY REJECT THIS TECHNOLOGY.

I'm very very curious how this matures. Facebook is one of the few companies that can accelerate cryptocurrency adoption to the mainstream (whether the crypto communities like it or not). Curious to hear everyone's thoughts.

Libra "is governed by the independent Libra Association tasked with evolving the ecosystem" (https://libra.org/en-US/white-paper) – Facebook's managed to pick large corporations to wield the power for this decentralised cryptocurrency. "Can't wait for a cryptocurrency with the ethics of Uber, the censorship resistance of Paypal, and the centralization of Visa, all tied together under the proven privacy of Facebook" — Sarah Jamie Lewis' Twitter thread on this is a great read. https://twitter.com/SarahJamieLe...

waste of space

Pros:

nobody asked for this, they are not filling a need.

Cons:

Everything about this feels icky I have no trust in FB

I think the Winklevoss twins are always a step ahead of Mark. :)

Airwire is the real mass adoption of crypto. They're becoming an ecosystem in the crypto world, with their universal sending tech, easy airdrops and awesome features on the horizon.

Pros:

Can help Airwire.io get up there as a mass adoption platform.

Cons:

Not trustworthy. They srew up our privacy. Now our Money?No thanks.

Let's see how MOVE itself evolves around blockchain devs.

Pros:

It would accelerate adoption and awareness about cryptocurrencies and blockchain.

Cons:

We don't know how much privacy would be compromised.

Can think of few companies I trust less with a global currency

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So now we supposed to store our transaction on immutable data store controlled by FB... That will be no for me...

Facebook pushing crypto is great! Now Google and Apple will compete and it will really boost the industry.

If you trust Facebook to not apply its censorship policies to Libra - you might be excited. If you trust Facebook to protect your data when using libra - you might be excited. If you believe cryptocurrencies should be centralized - you might be excited. In my opinion, this is a step backwards. While it may help accelerate awareness of cryptocurrency, it may set a false precedent of what the entire point of cryptocurrencies is, that is decentralized, trustless and free of censorship. It will be interesting to see what happens when Libra bans its first user and decides who and who cannot use money.

Hey Guys, I am really excited to hunt Libra. Libra is one of the most anticipated product in the blockchain space as this marks Facebook's entry in the crypto space. I am very excited about this project. Whitepaper and testnet are already live for the community. Testnet: https://libra.org/en-US/open-sou... Whitepaper: https://libra.org/en-US/white-pa...

Not too happy about this. While Facebook is one of the kings of the silicon castle and can drive their "cryptocurrency" forward it's just another big bank centralizing power and control.

Facebook is a cancer on society. I will never every use this.🖕🏻Facebook. Facebook deserves no trust.

Testnet is up, let's develop.

Pros:

Open source, global cryptocurrency

Cons:

Facebook has a sketchy history of privacy.

More colonization. Crypto is sooo unsustainable based on how much energy it needs. This is completely rubbish use of technology by an absolutely untrustworthy company.

One of the cryptocurrency's characteristics should be decentralization and lack of single entity it behind it, otherwise, it's not much different than the government issued currency. Good marketing for crypto, tho.

"Calibra promises to keep your crypto dealings and your Facebook data private" That's where you lost me... 😂 Remember when Zuckerberg made a joke about Facebook "not having the best reputation for privacy" and nobody in the audience laughed? That's how this is. Still, they're bold--you gotta hand it to them. They literally will not quit. They were bold enough to launch Facebook Portal, a CAMERA AND MICROPHONE INSIDE YOUR HOME not long after the Cambridge Analytica scandal, so why stop there honestly. They've faced virtually no consequences when it comes to respecting (or lack thereof) user privacy or security. So why give up. The funny thing is people don't often realize they're in control. Facebook is powerful because of its user base and network. If people simply stopped using Facebook products, the company would dip. Simple as that.

I couldn't hate this more.