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Thoughts on "Libra" Facebook's new Cryptocurrency.


 


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 3 months ago '16        #1
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Wisd0m  1 heat pts1
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Thoughts on "Libra" Facebook's new Cryptocurrency.
 

 
Title says it all.

Currently researching this topic and wondered what yall think.
Right now im completely against it, considering that Facebook is essentially trying to monetize data. This could possibly lead Facebook to becoming the standard for digital identity and allowing them to have all our personal data , which low-key terrifying considering their track record.

Would love to have a discussion about this.
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16 comments
 

 3 months ago '07        #2
andros06 
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All's I know is it'll drive up the price of btc and other coins.
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 3 months ago '18        #3
onelastyme 
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Sure why not give the most evil empire on the planet complete access to your spending habits and money
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 3 months ago '19        #4
Jpeg47 
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Paypal will die
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 3 months ago '14        #5
Infamous Ray  5 heat pts5
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when will this drop??

 3 months ago '10        #6
slaughterhos 
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A centralized database
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 3 months ago '04        #7
mr_underground|m  topics gone triple plat - Number 1 spot x2
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It's a smart move as most of the crypto use case is 70% speculation and 30% p2p payments in developing countries. Facebooks user base is mostly developing countries. We're over it here in the west and mainly use Instagram ( which is why Facebook bought it) But actual Facebook as a platform use is developing countries.
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 3 months ago '16        #8
Wisd0m  1 heat pts1 OP
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 andros06 said
All's I know is it'll drive up the price of btc and other coins.
With the exposure that cryptocurrency and Blockchain (Even though libra isnt really Blockchain) will get it might be wise to invest a lil in to ETH or BTC or wat ever crypto u like
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 3 months ago '16        #9
Wisd0m  1 heat pts1 OP
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 Infamous Ray said
when will this drop??
Its only been announced so far but expected drop date is some time next year but with the recent distress from politicians that might delay its release

Here is a article that came out today:
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 3 months ago '16        #10
Wisd0m  1 heat pts1 OP
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 slaughterhos said
A centralized database
Thats what Facebook says this will be at the start but hopes for the project to be truly decentralized in 5 years with projected launch date

 3 months ago '16        #11
Wisd0m  1 heat pts1 OP
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 mr_underground said
It's a smart move as most of the crypto use case is 70% speculation and 30% p2p payments in developing countries. Facebooks user base is mostly developing countries. We're over it here in the west and mainly use Instagram ( which is why Facebook bought it) But actual Facebook as a platform use is developing countries.
Thats the Interesting part, Facebook or rather the Libra collective's mission is to basically "Bank the Unbanked". What that means is they essentially want to get people who are in countries where its hard to get a bank account or if their native currency is very volatile to be able to have a stable amount of money due to libra being backed by a enourmous amount of funds from companies in the libra Collective which in turn gives Libra a low volatile value.
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 3 months ago '15        #12
grown simba  5 heat pts5
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I'm interested in seeing how this will turn out.

The concept is not the worst. It could provide a great alternative to bitcoin
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 3 months ago '16        #13
Wisd0m  1 heat pts1 OP
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 grown simba said
I'm interested in seeing how this will turn out.

The concept is not the worst. It could provide a great alternative to bitcoin
I wouldn't say it would be an alternative because Bitcoin is a true cryptocurrency and actually uses Blockchain, whereas Libra uses Merkel Trees and is backed by actual money making it a stablecoin meaning it has very low to none volatility meaning the value of libra won't change as much as bitcoin would. The only thing that I see libra doing in terms of bitcoin is giving cryptocurrency more exposure which in turn might rack up the prices of bitcoing and others
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 3 months ago '18        #14
Mr Tibbs 
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 Jpeg47 said
Paypal will die
PayPal just signed a partnership with instagram (owned by facebook) to turn instagram into a marketplace.

 3 months ago '06        #15
realgunta  1041 heat pts1041
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real talk, if you have a Facebook profile......delete that sh*t asap

im talking, wipe it clean. Remove all photos, posts, comments, likes etc

and then delete your account

Get Off Of That fu*king Platform

if you have a lot of stuff on there, then you can use this extension to Bulk Delete:

 3 months ago '05        #16
Tonero  8 heat pts8
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will either be a really good thingg for facebook or the death of the company

 3 months ago '19        #17
Purpleswag23  13 heat pts13
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zucherberg is a monopolizing trend wh*re. that's my thoughts



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