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Ever since I have heard of this, I just lost interest in it totally. You made a valid point there, with the number of users they have, imagine 2billion people paying $1, and some will even pay more anyway.

They have proven to be unreliable. Giving them more money is like empowering them to perpetuate more evil.

This reminds me of a quote from Time Berners-Lee, the guy who "invented" the Internet. In a Vanity Fair interview last year, he talked about how he envisioned the Internet to be this open, free, and democratic thing that was supposed to serve humanity, but ended up being misused. So, instead of serving humanity, big companies like Facebook use the Internet today to take advantage of humanity and profit while doing it.

I hope the blockchain doesn't end up going the same route. But, Facebook getting its claws in cryptocurrency is cause for concern. I mean, in the Vanity Fair article, Berners-Lee said the Internet could be a destroyer of worlds in the wrong hands. I feel like blockchain technology has the potential, too. It's for this reason that I definitely don't want blockchains and cryptocurrencies to be controlled by untrustworthy, if not nefarious, companies like Facebook. I mean, we already know Facebook could be used to manipulate elections, and spy on people. Imagine what they could do if they become a de-facto global bank or something like that.

And on that note, maybe you're not being too pessimistic. Or maybe you're right and this is just the beginning of another Black Mirror episode?

Oh, and if you're interested, here is the link to the Vanity Fair article on Tim Berners-Lee: https://www.vanityfair.com/news/2018/07/the-man-who-created-the-world-wide-web-has-some-regrets

I have been saying non stop that there is only the corporations to benefit from this. There would be no other reason so many top level corps would sign on. They are not altruistic entities. They are blood thirsty greedy as fuck groups of people out to bleed every last drop of humanity. But likely the masses of sheep will follow along and think they are getting gold when all they are getting is played.

I dont trust Facebook with my data and I'm sure as hell ain't gonna trust 'em with my money. Imagine having all your money frozen simply because they disagree with your choice of post on fb? So nah, I'd pass on Libra "stablecoin" or whatever the heck Mark is trying to sell us :(

Lol more than enough normies and noobs that don’t know a crypto from their big toe and would be convinced to use Libra they going to make bank if this thing gets rollled out

Posted using Partiko iOS

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Thanks for this article, you have basically put together everything I've wanted to explain, but in an understandable way.

And thanks for the follow, don't know when it happened, but it really surprised me.

Posted using Partiko Android


@stellabelle, sorry to see you have less Steem Power.
Your level lowered and you are now a Minnow!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!