RE: On the Eve of Facebook's Libra Whitepaper

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On the Eve of Facebook's Libra Whitepaper

in palnet •  5 years ago 

Facebook can efficiently exploit crypto, no doubt. But for this to be a favourable development for the cryptosphere we need to have people to move out from under the Facebook umbrella.

Which might be harder said than done, to be honest. Paypal is a pretty heinous company, for example, it's transgressions are well known and it even attempted to implement less friendly policies lately AND YET it's still around. Of course people are chipping away at its once dominant position, but we must remember that anti-monopolistic battles are best fought BEFORE the monopolist has a chance to entrench itself.

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Yeah, I don't see how this doesn't reinforce an FB monopoly.