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Thoughts on "Libra" Facebook's new Cryptocurrency.


 
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 2 weeks ago '16        #1
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Wisd0m 1 heat pts
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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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14 comments for "Thoughts on "Libra" Facebook's new Cryptocurrency."

 2 weeks 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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 2 weeks 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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 2 weeks ago '19        #4
Jpeg47 
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Paypal will die
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 2 weeks ago '14        #5
Infamous Ray 5 heat pts
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when will this drop??

 2 weeks ago '10        #6
slaughterhos 
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A centralized database
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 2 weeks ago '04        #7
mr_underground|m 2207 heat pts2207
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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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 2 weeks ago '16        #8
Wisd0m 1 heat pts 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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 2 weeks ago '16        #9
Wisd0m 1 heat pts 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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 2 weeks ago '16        #10
Wisd0m 1 heat pts 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

 2 weeks ago '16        #11
Wisd0m 1 heat pts 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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 2 weeks ago '15        #12
grown simba 5 heat pts
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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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 1 week ago '16        #13
Wisd0m 1 heat pts 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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 1 week 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.

 1 week ago '06        #15
realgunta 963 heat pts963
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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:

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