Seeing the discussion on the prior youtube thread prompted me to post this. So Mark is getting into the banking game by launching a currency.
So, does the same private company censorship argument hold true when instead of simply censoring opposing views, they can freeze one's financial facebook account?
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Interested to see where this discussion goes. I'm not bullish on crypto at scale but if anyone is going to figure it out it'd be FB. Plus, they have the backing of nearly every major player in tech and fintech. Everybody get your popcorn ready. Should be fun to watch.
I will ignore it like I ignore every other "coin" that the dumbest kids in my college classes try to sell me on LinkedIn.
You know it's bad when convicts and rednecks on FB/LI are posting about their "crypto investments and strategy".
When I noticed this trend I called the top - should have played a short. A week later they're recommending "buying the dips - will be at $25k in two months". SMH. Now they've got personal GoFundMe's...
I'll be watching as a bystander again although this one will be more interesting. FB has the world by it's balls and so to have them being the creator/primary backer could re-define the industry and give liquidity/exchange value to an otherwise worthless piece of nothing.
I'm sure it will be legitimized eventually. Might be sooner than later with major companies like JPM and FB getting involved, but I'm happy waiting until then. Right now it's on the same tier as MLM companies for me though.
but WEEDCOIN is the NEXT BIG THING
Thought I was missing a bit of you in my life for some time now
If its gonna be connected 1:1 to USD I dont believe its gonna change much, they claim they are open to share information about transactions if needed. Crypto geeks wont use it or bet on it, maybe it would be a safe harbor to volatile crypto market like tether or other stable coins, now its hard to say
FB has 2.4 billion users....the US has less than 400mm people....so the majority of FB accounts are not US persons. People will buy Libra with fiat or other crypto ccy...then use Libra to buy goods and services...but maybe that Libra never gets converted back to fiat...it just stays as Libra and is passed around in exchange for other goods and services.
FB has then become the worlds central bank..and it will have all that other fiat and crypto ccy as reserves against all the Libra sold to the user community.
a virtual govt...a virtual central bank...organized and operated from Switzerland...independent from other govts and central banks...very interesting
Fuck Zucc he can go succ my trucc
I find it hard to conceive, and am a little bearish on it (most new tech I am). Don't know if its a fad or here to stay. Mainly, I get you can use it in a restricted area ("these different websites") but you still have to convert it to actual money.
It will be interesting to see how it pans out down the road, particularly if we shift from countries providing currency to companies providing it.
I personally think it is a fantastic idea. They already provide internet to third world countries through a Facebook portal, they will now become their banking source too. I'm assuming they're going to do really well with this in parts of the world where the local currency is unstable.
It'd be insanely dangerous for any country to give so much power to a single individual regardless, whether he's foreign or not. Zuck has given plenty of evidence that he's not a trustworthy person in many ways, eg personal data, arbitrary politicization of rules.
Libra coin might have a superior tech than bitcoin for instance, which is actually really old by now, but it's not a better coin. Bitcoin's appeal stems from the lack of centralized control. Libra is the opposite of that.
I didn't mean on the country level, I meant more on the person to person level. Like Venmo for third world countries
Such a dumb fuck from duck the cuck
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