Topic: Can we trust Libra after Facebook kept fail us when it comes to privacy &data? (Read 389 times)

no i don't trust any kind of centralised cryptocurrency whether it be facebook Libra coin or any other cryptocurrency coin which is centralised form.

Depends on context. Would I trust libra with all my information regarding where I spend my money? Hell no. Would I use it if it was on an exchange to move to stablecoin while bitcoin is going down and then use it again to rebuy bitcoin? Sure why not. We still know very little about Libra and how it will be used, we don't even know if it will be on exchanges or will be a coin like that or not.

Venmo allows you to send other people money as well, so does paypal, will libra be closer to paypal or will it be closer to usdt? After we figure these things out we can find something we can use Libra on. So like I said its all about the context, there are stuff we can trust Libra on because it doesn't require any trusting thing, but there are stuff that requires trusting and we can't trust facebook at all.

I think for now we cannot answer it for sure, because libra is not yet a coin registered in the exchange. Why are we not waiting for him and then making a statement? Here I am patiently waiting for the launch, although I can only read it through the whitepaper for now. Be patient and keep positive thinking. Thanks.

If you have been using facebook for a long time and communicate with you friends and family thru facebook, its just fine. You now will have a bank account without knowing. Seriously there is nothing to worry about it. Unless you also store your BTC and all other investment to them. Problem with facebook though is that they connect all and its going to be too late for you to protest.

It depends.
If facebook releases it's code for Libra to be openly viewed by users and uses a openly verifiable blockchain that we would have no reason not to trust Facebook.
As the blockchain itself won't be collecting any data, the application is going to be a thing to look at. Facebook would surely focus on an app wallet for mobile.

For me, nothing is secured this time, whether its a legal business we are participating into, just that we know whats the risk of it, our private data is important but facebook are doing their best to keep our data safe, (i dont know what how legit is this) and or if they leaked our info, then its time to think if their new currency could be good for us or not, but if we can make money on it, then why not, at the end of the day, business really matters.

No, we can't trust Big Social for data privacy. And no matter what they promise in their whitepapers, they will find a way to get more than they offer. This is how enterprises flourish.
Whether we participate or not is irrelevant. The masses are on social and they don't give a shit.
What we can do is develop our own ecosystem and spread the word, so it can become bigger and stronger.

Can we trust them? Well, it's hard to. Given that all the history they've made with all the controversies they had in the past, I think it's a little too impossible. However, I believe that we can at least try it for a test run. Sure, we do not want to use it for a long timespan. But just for a while, I think that'd be the best thing to do for when it is publicly released. All in all, we still don't want to miss the opportunity to be a part of something supposedly big, do we?

Facebook is a platform for sharing personal data and in that respect it did exactly what it was supposed to do.
I don't believe they failed.

If facebook puts their code on github for libra, I'll trust the coin. The code can't lie.

Libra is very hot. I think that their team will success since that Facebook has very professional marketing teams

Bro if we can't even trust them with our date even the smallest of details like what we are searching in the web what's make you think that their Libra coin will be more private comoared to their social media platform? Right now their main asset is our data and they will try to exploit it as much as they can in order to create the perfect solution for their Libra coin. There will be no exceptions for it as they have covered everything from messaging, social media and even search engines they'll exploit everything about us.

I can't imagine one reason to use a facebook coin. 

with low supply sometime there is situation when the demand is so huge and the supply is very small and most of the people are holders which mean almost no way to buy coins....this kind of effect drive the value of the coin so high even almost no body sell them.....

in huge supply coins with billions its nver will happen and they need marketcap of trillion of trillions to get small price per coin and demand will never will be huge compare to supply in 30,40,60,100 billions coins,,,,relative to amount of people and other stuff....

but with low supply there can be efeect when the price of coin surge so hard becuase the demand is huge and the supply is low....and no body sell them its sky rocket the coin...

zcash spiked 2.3 miilon dollar per coin and was have much but much less marketcap and volume....

very interesting

what weird other understand them fast and you not hhhhhhhhhhhhhhhhhhhhhhhhhhh

somebody said me so great answer and first time i see it on bitcointalk and you dont get it


1. paper money= stable coin lose value over time see and read and ask experts in economy while paper stable money lose value with the time the prices in supermarkets/houses/clothes/cars go up....very simple no....

2. if you bring crypto stable coin its the same like stable paper money it will lose value over time and the price in supermarkets,houses,clothes,cars and other by nature the prices go up...

so what the point of stable coin? we already saw what paper money which is stable money what he did while the prices on the markets go up..

3. real crypto coin can grow to huge number and while the prices in supermarkets and cars and houses prices go up slowly it dosent hurt because the value of crypto is much more high and grow compare to stable...

smart people that invest in something stable its gold and diamonds compare to shit stable coin which its called exchange nothing more and igf yes much better gold and diamonds.

the only real stable crypto coin is work on smart code which play with the supply coins which mean if people sell this coin the code reduce the amount of coins and if to much people buy the coin the code, add more coins to supply and by this keep stable price ...backed by it self code.


other stable coins pegged to usd,gold,diamonds are all scam...because the only real crypto coin is work on smart code which reduce and produce coins relative to buy and sell of the coin and by this keep stable price....but stable coins are bad in a system where the prices in super markets,house,clothes,cars go slowly up year by year....

Jeebus dude. I so want to make counter arguments but I really couldn't understand what you're trying to say no matter how hard I tried to decipher your statements.

I'm afraid only a minority only knows what Zuckerberg has been doing with Facebook. I mean, most of our relatives are still on Facebook aren't they?

i haven't yet heard of any good reason why people keep repeating this!
just because a lot of youngsters are wasting their time on their social media it doesn't mean they are also going to use their payment processor services called Libra too.

true

can anyone trust zuckerberg after all we know?he has to work really hard to earn our trust and respect.my opinion about him is he can do everything for money and power.

its impossible to bring the mic back after he fall in this kind of way its called game over === THE ANALYZER

stable coin over time lose value read about it look on graphs and ask expert economist ....the we have another problem the prices on houses and cars and supermarkets, clothes go up relative to the stable paper money which lose value and the system is get to the point where there is no exist ....

the moon is part of the low supply real crypto that grow and its fun wait for this....i was one the mind which make bitcoin viral with others without any salary 

then satoshi team come in find solution how to save the system even the prices go up in everything.....peer to peer money with low supply.

then super dumb people hhhhhhh create crypto stable coin which in fact its the same like paper stable money and dont bring any thing new the prices will continue to grow in cars,houses,clothes, and other and our stable crypto coin will fuck us like paper money

most of stable coins are scam and the only real stable crypto coin is code which produce or reduce supply coins relative to buy and sell to the coind and backed by itself not pegged to usd or gold or diamond which all this is scam,,,,,

its backed by self smart code...if people sell this coin the code reduce the amount of coin and if to much buy this coin the code produce more coins and in this way the code make stable price but overall stable coin dont help the prices in supermarkets and houses and cars,clothes go slowly up so the idea is bed and even more bed when the coin became main stream the price will not grow....

this is the only real crypto peer to peer coin backed by self smart code the other pegged to usd or gold or diamond or whatever is PURE SCAM but its relative to the mind that know to research.....


if i was ask you how stable coin work and what types of stable crypto coins...you will never answer me i know from your first of answer hhhhhhhhh

second time the hand fall the mic already on the fl00r

you mic going to drop and dont bring it back , its game over

from your answers you sound like some kid that even dont know what he speak...the people on reddit no body scam their ass they very smart and protect the commuinty there,,,and moon its the nature of real crypto nothing wrong to wait the moon with low supply real crypto.

you also uneducated as i very smart in economy and know very smart economist on the web the nature of stable coin is lose value over time and the prices in super markets and other stuff slowly go up and this is why we need real crypto....not stable because the paper money stable money compare to prices go up in supermarkets and other things dont help and stable coin over time lose value ask expert economist and expert blockchain or someone from MIT school i have ton friends over there.

its speculative because its new to the system....hhhh its not speculative because this is the nature of crypto

so here he simple answer but search graphs of stable money and see the curve how it lose value fast....the prices go up in super markets and cars and other things and houses and you basically exchange the stable paper money to stable crypto money and there is no difference

this is why satoshi team is so fucking calculated...

its kid stuff and when you say go on reddit , the people over did alot of them retire and some of the top activist seat there and hide even edoward snowdan