FB Libra
- Thread starter Dialgon
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Power Member
- Mar 7, 2010
- 515
- 293
Libra will be the corporate attempt to making transactions through crypto currencies possible.
It is backed by some of the scummiest companies out there when it comes to consumer privacy.
Because it’s mainly launched by Facebook and backed by several credit card companies, it will be quickly used by millions of people as you can just send money quickly and pay anywhere you want to pay.
As there are billions around the world who don’t give a rat’s ass about their own privacy, it will quickly result in a highly adopted payment system used globally.
This is positive for BTC, as more people will realize what the benefits of crypto currencies are compared to regular payment systems.
Due to the (very slow) shift of people moving away from companies that know everything about you, it will help generate a bigger consumer market for BTC.
It’s a good play for the market in general as more people will be aware of the blockchain, but it will be a hell of a deep canyon that needs to be passed before the actual mountain of mass adoption can be climbed.
For the growth of the market, I believe Facebook and the partnering companies, are a vital aspect of mass adoption. But honestly it’s like opening the gates of hell to let several companies with a track record of not giving a flying shit about anyone’s privacy to profit off of this. Combining offline and online financial information with browsing and tracking information online, and giving that to a list of companies who have a history of abusing this shit as much as they can is a terrible idea.
The whole concept isn’t about making payments easier or private (which is the core of BTC) but to have a short list of companies to gain data that nobody else has. And to then turn that data into better profiles of people, allowing better advertising, meaning more money for these companies. There’s nothing wrong with making money, but this is just adding fuel to a fire.
Libra is definitely going to be the most powerful currency online when it comes to commercial usage. But it’s also like having somebody follow you 24/7 during every move you make to see what you’re doing.
It’s the opposite of why BTC ever started and that’s why it’s so retarded that it actually might happen. But in the end I think it’s a necessary evil - this shit has to reach a point where everybody’s like “shit son, this ain’t good” and we all go back living happily ever after in a utopia that isn’t watched 24/7 by The Zuck, the most famous Lizard/Robot of the 21st century.
It is backed by some of the scummiest companies out there when it comes to consumer privacy.
Because it’s mainly launched by Facebook and backed by several credit card companies, it will be quickly used by millions of people as you can just send money quickly and pay anywhere you want to pay.
As there are billions around the world who don’t give a rat’s ass about their own privacy, it will quickly result in a highly adopted payment system used globally.
This is positive for BTC, as more people will realize what the benefits of crypto currencies are compared to regular payment systems.
Due to the (very slow) shift of people moving away from companies that know everything about you, it will help generate a bigger consumer market for BTC.
It’s a good play for the market in general as more people will be aware of the blockchain, but it will be a hell of a deep canyon that needs to be passed before the actual mountain of mass adoption can be climbed.
For the growth of the market, I believe Facebook and the partnering companies, are a vital aspect of mass adoption. But honestly it’s like opening the gates of hell to let several companies with a track record of not giving a flying shit about anyone’s privacy to profit off of this. Combining offline and online financial information with browsing and tracking information online, and giving that to a list of companies who have a history of abusing this shit as much as they can is a terrible idea.
The whole concept isn’t about making payments easier or private (which is the core of BTC) but to have a short list of companies to gain data that nobody else has. And to then turn that data into better profiles of people, allowing better advertising, meaning more money for these companies. There’s nothing wrong with making money, but this is just adding fuel to a fire.
Libra is definitely going to be the most powerful currency online when it comes to commercial usage. But it’s also like having somebody follow you 24/7 during every move you make to see what you’re doing.
It’s the opposite of why BTC ever started and that’s why it’s so retarded that it actually might happen. But in the end I think it’s a necessary evil - this shit has to reach a point where everybody’s like “shit son, this ain’t good” and we all go back living happily ever after in a utopia that isn’t watched 24/7 by The Zuck, the most famous Lizard/Robot of the 21st century.