Thoughts? I find it hard to imagine why a consumer would be interested in this https://www.nytimes.com/2019/06/18/technology/facebook-cryptocurrency-libra.html
I could tell you, but then I'd have to kill you! 🙂
Pump and dump
It seems like a valid option, mainly for people who are interested on: 1) send money overseas (something like transferwise) 2) have a payment platform within a social-network, I.e. small stores or group of friends (WhatsApp/Instagram)
3) money laundering 😊
If people buy Pokémon cards they’ll surely buy this thing
Can someone explain how is it a crypto currency if it only stays on Facebook servers and no one can mine it?
First, give us your data. Next, give us your money.
Bah, not a true crypto, just a digital interface for transacting. It can be very successfull imo, there are places on the earth where facebook = internet.
name one?
Indonesia, thailand. (Data: LIRNE asia). Respondants 47% use facebook but only 30% uses internet. Nigeria (data geopoll dec 2014) 9% of the respondant said they use facebook but not the internet, 65% of the respondant agrees that facebook is the internet. India there is facebook only data plans. Etc etc... if you ever seen lines in front of a western union in hongkong or any dmc big city, and cursory analize the distribution of the queue based on origin country, you will see why this could work easily. (No racism or profiling, just telling the observed, every maid in Singapore twice a month makes the line to send the money home to Malaysia)
Why trust a Facebook product?
This fake crypto is probably just a simple text file based ledger stored on Facebook server somewhere...without any encryption.
because we’re all just dumbfucks to Mark