What are your thoughts now? Do you trust the libra given that Marcus has said he is willing to accept his salary in libra lol? https://www.wsj.com/articles/facebook-faces-critics-potential-allies-at-senate-hearing-on-digital-currency-11563289251
I trust in buying Bitcoin
Nice try Facebook. These are the same guys selling your data and experimenting on people. Deleted my account 8 years ago due to lack of trust and there is no going back. 🖕Facebook!
What’s in your wallet?
We work at Capital One. Nothing but cobwebs and pocket lint...
My point was, isnt coinbase already doing this ? With USDC on ethereum ? I dont get how this is different
This is a great point: I think Facebook imagines they’re going to have an infinitely scalable product, vs current “stable coins” which have relatively low issuance and liquidity (compared to the USD)
They should just apply for a payments/wallet license like coinbase/robinhood and call their coin usd
I am getting tired of people getting self righteous on Facebook. We have had breach of even more massive user data (last one I remember was T-Mobile and they were charging people for their service). Feels like some think criticizing a successful tech company somehow make them sound sophisticated. Let Facebook pave the way and show the old bank how efficient things can be done and maybe they start moving their lazy a$$ too!
I still don't get why they needed a crypto currency vs having a "Pay with Facebook" option similar to WeChat or Venmo or any number of payment apps. What value does Libra bring? Most crypto isn't even kept on a hardware wallet in your pocket either so it loses its utility there.
They’re just trying to capture the market. Libra isn’t special, but it’s FB’s currency. Why do business in local currencies when you can have your own and control it entirely? All the more reason to leave it the fuck alone too.
Sure but then why even go through the effort of crypto. Why not just have ZucksBucks similar to store credit or gift cards.
The unstated fight here is the one between US adversaries (China, Russia, Iran, Venezuela, et al) trying to skirt sanctions via a monetary system that the US doesn't control (i.e. crypto) and the US trying to get ahead of it by. Some see Libra as the thing that will bring some sense of regulation to crypto, and others see it as a scheme to line the pockets of businesses at the expense of everyone who uses it. Could be both.
I am concerned the lizard people (who use USD) will switch to Libra, which would tilt the balance in favor of a new new world order (They won’t use BTC for obvious reasons).
Riggleman's questions were golden: https://www.c-span.org/video/?c4808083/rust-language-chosen
Remember bro what makes you think Bank or Financial Institutions is better than LIBRA? At least LIBRA doesn't charge you a ridiculous fee for Remittance
I trust facebook’s ability to build products that allow at-scale manipulation from foreign actors. Not happy with facebook being used to manipulate your democracy? Try facebook being used to manipulate your economy too! I just do not fundamentally trust facebook to handle payments. They aren’t a payments company and regulatory compliance will always come second to market growth for them, which is why they will be prone to a massive loss of user trust when they somehow find a way to blow it.
Actually believing the Russian meme