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Only a Fool Would Trust Facebook’s Libra
#1
This is a strong statement from economist Joseph Stiglitz. The article is interesting and these statements are worth noticing:

"Stiglitz also notes that “in just a few short years, Facebook has earned a level of distrust that took the banking sector much longer to achieve.” 

and this one:

"Stiglitz has no trust in Libra’s management, since “Time and again, Facebook’s leaders, faced with a choice between money and honoring their promises, have grabbed the money.”

Of course Facebook is creating Libra as an alternative to the expensive banking system, but doing so and judging on the amount of FB users they will create yet another alternative economy in the world. One that is owned by FB and therefore giving them more power. FB will be even more in control of the users which I don't like.

Read the full article here: https://cointelegraph.com/news/economist...ooks-libra
Cardano is the most promising 3 gen. crypto right now.


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#2
(2019-07-04, 10:04 AM)Carsten Wrote: This is a strong statement from economist Joseph Stiglitz. The article is interesting and these statements are worth noticing:

"Stiglitz also notes that “in just a few short years, Facebook has earned a level of distrust that took the banking sector much longer to achieve.” 

and this one:

"Stiglitz has no trust in Libra’s management, since “Time and again, Facebook’s leaders, faced with a choice between money and honoring their promises, have grabbed the money.”

Of course Facebook is creating Libra as an alternative to the expensive banking system, but doing so and judging on the amount of FB users they will create yet another alternative economy in the world. One that is owned by FB and therefore giving them more power. FB will be even more in control of the users which I don't like.

Read the full article here: https://cointelegraph.com/news/economist...ooks-libra
Crypto money should be fully decentralised.
This will never be the case with LIBRA.
The past has shown that FB does what ever they want with their users. If they believe to have a good reason to ban you, they will do that.
This will be the same in the future.
Suppose you have lots of LIBRA coupled to your FB account. What will happen when they ban you?
What is this thing that builds our dreams, yet slips away from us?

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#3
We will just have to wait and see. I can't imagine Libra requires you to have a FB account, but for sure if you have it will be fully integrated.
Cardano is the most promising 3 gen. crypto right now.


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#4
(2019-07-06, 02:34 PM)Carsten Wrote: We will just have to wait and see. I can't imagine Libra requires you to have a FB account, but for sure if you have it will be fully integrated.

If I am not mistaken, I read it would be only for FB users.
What is this thing that builds our dreams, yet slips away from us?

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#5
Maybe you are right. I found this "It’s important to realize that Facebook is actually launching two cryptocurrencies: the one everyone’s talking about (Libra) and the one available only to Facebook and its corporate partners (the Libra investment token)." Libra is going to be open source and of course it will be easy for FB users to use the coin. If it's tied to a FB account or not is unclear to me still.
Cardano is the most promising 3 gen. crypto right now.


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