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Libra — A global cryptocurrency by Facebook
Libra is one of the most anticipated product in blockchain space as it marks Facebook's entry in cryptocurrency. Libra already have major partners in industry and this project will make cryptocurrency accessible for billions of people in the world.
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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...
@iamsebj I don't think they'll get away that easily.. The FTC is starting to catch on.
- https://www.bloomberg.com/news/a...
- https://www.bloomberg.com/news/a...
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
Facebook is a cancer on society. I will never every use this.🖕🏻Facebook. Facebook deserves no trust.
@hayden_evans 100%. The amount of homeless people who don't have internet... and Facebook gets to make it's own money supply.. SMH
Facebook pushing crypto is great! Now Google and Apple will compete and it will really boost the industry.
@sethlouey as of now libra is coming with full suit of partnership. Let's see mainstream media attention is good for crypto
@sethlouey I'd actually be surprised if Amazon doesn't do the next move. They have strong incentives as a global e-commerce player and access to customers' wallets.
@nikolaytsenkov what would be it's price compared to local currencies? Like when used as payment or remittances on another country, how does the price change?
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.
Shame on anyone who is upvoting. Libra is not a cryptocurrency, or a stable coin, or anything. It has nothing to do with the principles that started Bitcoin or Ethereum.
Pros:I can't believe this crap is being upvoted.
Cons:Libra has nothing to do with the principles that started Bitcoin or Ethereum.
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.
@cameronjroe I am sure it is no coincidence this is launched when the staunched critic of Facebook, the European Union, is the formation of a new leadership...
@cameronjroe I'm not sure how I feel about this. I don't trust facebook.. at all. Hopefully this help blockchain and other alternatives to become mainstream.
@cameronjroe @lyondhur I agree, it is not a crypto currency, it is a centralized Zuckbank and Zuckbucks will never be crypto.
@elavenil_e If the store of value "story" sells, it should. Gold didn't go away just because we're using cash, both have their use-case.
@andupotorac @elavenil_e Sorry folks but Libra is not blockchain based. https://medium.com/@lopp/thought...
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.
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.
@aaron_kazah new feature open to makers and the hunter of each post (and admins like me while we beta test). 😊
@rrhoover Polls are super cool. Would be very useful to take direct feedback on Products :)
Absolutely love the Poll feature! Will we have access to poll data via API 2.0? @aaron_kazah @rrhoover
@aaron_kazah @bmweinstein no plans to add to the PH API at the moment. That could change later this year if there's strong demand and a good use case.
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