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p/libra-devA New Global Payment System
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kushagra singh

Libra - A global cryptocurrency by Facebook

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Libra is one of the most anticipated product in blockchain space as it marks Facebook's entry in cryptocurrency. Libra already have major partners in industry and this project will make cryptocurrency accessible for billions of people in the world.

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Cameron Roe
NO!!! NO!!! NOOOO!!! Facebook has NO RIGHT to make a currency.... This is a BAD IDEA and a CLASSIC SHAM by MODERN DAY "WALL STREET" aka BIG TECH. I am NOT a fan or a supporter. In fact, I'm calling congress and asking them to BAN it. PROBLEMS... LET's REMEMBER: - Facebook takes "aka STEALS" data from users globally and historically made their terms complex and misleading - US democracy was interfered with via Facebook Ads from foreign bad actors to get Trump elected - The "Facebook Economy" is a horrible engine creating massive amounts of centralized power to Facebook, spinning up scammy businesses, and providing "fake" identity systems - Mark Zuckerberg is a rich billionaire and he has too much power. He exploited internet loopholes and psychology and should be paying more in taxes - Facebook needs to be shut down. I honestly don't like spending time on it. SOLUTIONS - Estonia e-Estonia (https://e-estonia.com) - PROPER E-GOVERNANCE => https://e-estonia.com/solutions/... - PROPER GOVERNMENT IDENTITY => https://e-estonia.com/solutions/... - PROPER E-BUSINESS => https://e-estonia.com/solutions/... - PROPER CYBERSECURITY => https://e-estonia.com/solutions/... - PROPER GLOBAL INTEROP => https://e-estonia.com/solutions/... A good government would have been looking at this back in 2017 => https://www.engadget.com/2017/12... I FULLY REJECT THIS TECHNOLOGY.
Andre Gruber
@cameronjroe I am sure it is no coincidence this is launched when the staunched critic of Facebook, the European Union, is the formation of a new leadership...
Pedro J. Martínez
@cameronjroe I'm not sure how I feel about this. I don't trust facebook.. at all. Hopefully this help blockchain and other alternatives to become mainstream.
Amparo Diaz
@cameronjroe @lyondhur I agree, it is not a crypto currency, it is a centralized Zuckbank and Zuckbucks will never be crypto.
elle a
@lyondhur Probably a conspiracy theory of my own but I wonder if they intentionally use the word “cryptocurrency” for the average person who had heard it and thinks of it as cool and futuristic but doesn’t understand that it should be emphasized as CRYPTOcurrency?
Ryan Hoover
I'm very very curious how this matures. Facebook is one of the few companies that can accelerate cryptocurrency adoption to the mainstream (whether the crypto communities like it or not). Curious to hear everyone's thoughts.
Ghost Kitty
Comment Deleted
Ryan Hoover
@aaron_kazah new feature open to makers and the hunter of each post (and admins like me while we beta test). 😊
Rohit Goyal
@rrhoover Polls are super cool. Would be very useful to take direct feedback on Products :)
Brendan Weinstein
Absolutely love the Poll feature! Will we have access to poll data via API 2.0? @aaron_kazah @rrhoover
Ryan Hoover
@aaron_kazah @bmweinstein no plans to add to the PH API at the moment. That could change later this year if there's strong demand and a good use case.
Tatev Hackobian

Some developer looked into Facebook’s new coin Libra code and opened a pull request addressing a critical security vulnerability that is - centralization of authority and decision-making power. The PR suggests fixing the centralization issue by replacing the whole project code with Bitcoin’s code. The PR got over a hundred comments and likes before getting closed by Libra.

Pros:

Nothing

Cons:

Since it is coming from Facebook, it can not be private and secure

Seb Jachec
Libra "is governed by the independent Libra Association tasked with evolving the ecosystem" (https://libra.org/en-US/white-paper) – Facebook's managed to pick large corporations to wield the power for this decentralised cryptocurrency. "Can't wait for a cryptocurrency with the ethics of Uber, the censorship resistance of Paypal, and the centralization of Visa, all tied together under the proven privacy of Facebook" — Sarah Jamie Lewis' Twitter thread on this is a great read. https://twitter.com/SarahJamieLe...
Cameron Roe
@iamsebj I don't think they'll get away that easily.. The FTC is starting to catch on. - https://www.bloomberg.com/news/a... - https://www.bloomberg.com/news/a...
Carlos Pacheco

waste of space

Pros:

nobody asked for this, they are not filling a need.

Cons:

Everything about this feels icky I have no trust in FB

Andu Potorac
I think the Winklevoss twins are always a step ahead of Mark. :)
Cristian Hueso Negrete

Airwire is the real mass adoption of crypto. They're becoming an ecosystem in the crypto world, with their universal sending tech, easy airdrops and awesome features on the horizon.

Pros:

Can help Airwire.io get up there as a mass adoption platform.

Cons:

Not trustworthy. They srew up our privacy. Now our Money?No thanks.

Dezideriu Sorin Raita
You just said it all'i even wonder if he ever will respond to it, the logo was stollen anyway in the same way as facebook
Rohit Goyal

Let's see how MOVE itself evolves around blockchain devs.

Pros:

It would accelerate adoption and awareness about cryptocurrencies and blockchain.

Cons:

We don't know how much privacy would be compromised.

Johannes Östling
Can think of few companies I trust less with a global currency
Ghost Kitty
Comment Deleted
Kimmo Hintikka
So now we supposed to store our transaction on immutable data store controlled by FB... That will be no for me...
Seth Louey
Facebook pushing crypto is great! Now Google and Apple will compete and it will really boost the industry.
kushagra singh
Hunter
@sethlouey as of now libra is coming with full suit of partnership. Let's see mainstream media attention is good for crypto
Andu Potorac
@sethlouey I'd actually be surprised if Amazon doesn't do the next move. They have strong incentives as a global e-commerce player and access to customers' wallets.
Thomas S'Analog
If you trust Facebook to not apply its censorship policies to Libra - you might be excited. If you trust Facebook to protect your data when using libra - you might be excited. If you believe cryptocurrencies should be centralized - you might be excited. In my opinion, this is a step backwards. While it may help accelerate awareness of cryptocurrency, it may set a false precedent of what the entire point of cryptocurrencies is, that is decentralized, trustless and free of censorship. It will be interesting to see what happens when Libra bans its first user and decides who and who cannot use money.
Amparo Diaz
Agree, the very DNA of a crypto currency is that it is decentralized, trustless, free of censorship. Facebook released a CENTRALIZED currency and that is not crypto, in fact, it is pretending to be crypto. Facebook is already deceiving us, right off the gate.
Cameron Roe
@thomas_s_analog We need systems built that move people off of Facebook. They have too much power in social networking.
Lyondhür Picciarelli
@thomas_s_analog That is precisely why they don't use the the word crypto/cryptocurrency anywhere. They repeat 'blockchain' like there is no tomorrow, exclusively for the purpose of getting people on-board, but by news-jacking cryptocurrencies as concept and taking advantage of collective mis-ideation.
kushagra singh
Hunter
Hey Guys, I am really excited to hunt Libra. Libra is one of the most anticipated product in the blockchain space as this marks Facebook's entry in the crypto space. I am very excited about this project. Whitepaper and testnet are already live for the community. Testnet: https://libra.org/en-US/open-sou... Whitepaper: https://libra.org/en-US/white-pa...
seanfromdolli
Not too happy about this. While Facebook is one of the kings of the silicon castle and can drive their "cryptocurrency" forward it's just another big bank centralizing power and control.
Hayden Evans
Facebook is a cancer on society. I will never every use this.🖕🏻Facebook. Facebook deserves no trust.
Cameron Roe
@hayden_evans 100%. The amount of homeless people who don't have internet... and Facebook gets to make it's own money supply.. SMH
Prince Arora

Testnet is up, let's develop.

Pros:

Open source, global cryptocurrency

Cons:

Facebook has a sketchy history of privacy.

Aditi Mukherjee
More colonization. Crypto is sooo unsustainable based on how much energy it needs. This is completely rubbish use of technology by an absolutely untrustworthy company.
Marko Islamovic
One of the cryptocurrency's characteristics should be decentralization and lack of single entity it behind it, otherwise, it's not much different than the government issued currency. Good marketing for crypto, tho.
HiramFromTheChi
"Calibra promises to keep your crypto dealings and your Facebook data private" That's where you lost me... 😂 Remember when Zuckerberg made a joke about Facebook "not having the best reputation for privacy" and nobody in the audience laughed? That's how this is. Still, they're bold--you gotta hand it to them. They literally will not quit. They were bold enough to launch Facebook Portal, a CAMERA AND MICROPHONE INSIDE YOUR HOME not long after the Cambridge Analytica scandal, so why stop there honestly. They've faced virtually no consequences when it comes to respecting (or lack thereof) user privacy or security. So why give up. The funny thing is people don't often realize they're in control. Facebook is powerful because of its user base and network. If people simply stopped using Facebook products, the company would dip. Simple as that.