Topic: 🔵 Facebook Agrees to Pay $5 BILLION, BUT will they ever stop?? (Read 1224 times)

I know this facebook stuuf will be fun to watch, the reality tv show is just getting started LOlz

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https://[Suspicious link removed]/source_article

After reading this news, one question came in to my mind:
Will they ever stop doing what they are doing?

They where spying on us all the time,
selling our data and information, to anyone who wanted to buy them,
they violated our privacy and they did that multiple times.

They now have to pay biggest penalty ever paid in history of US.
The settlement also requires fundamental changes at Facebook
and removal of Mark Zuckerberg as consumer privacy decision maker.

Facebook also needs to adapt new privacy program and respect user privacy.
This also apply for  WhatsApp and Instagram, that are owned by Facebook.


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What will Facebook do next?

I think they will make some changes,
but give more energy for their new monster baby called Libra coin.

They know that with Libra they will do all this again, and even more.
They will follow 100% of all users transactions and actions,
and in the same time they will make a deal with government.
Imagine the implications.... Imagine total centralisation.

Don't forget that Libra will be based in Europe, Switzerland.

On July 30th we have new senate hearing regarding regulating all digital currencies and blockchain
https://www.banking.senate.gov/hearings/examining-regulatory-frameworks-for-digital-currencies-and-blockchain


Summary

I don't know how good for cpypto space is potential creation of Libra coin,
as people will forever associate it with previous Facebook actions.
But if Facebook have billions to pay ... I say let them pay.

Meanwhile we can use this time to introduce more people with BITCOIN,
one real decentralised crypto who can beat them, and give power back to the people.

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France has already taken a very strict position. Their finance minister said that the country has got plans to block Libra EU because it han be a threat for their monetary sovereignty. Probably, it will not stop people from using Libra in case it is released, but as we see, Facebook will have to fight with many serious rivals to make its plans come true and not to start a scandal.

Governments are stopping them because they can monopolised everything. After all Facebook is already huge and they can still grow bigger in the future if they released Libra coin. That's why at this point, US is targeting them because who would stop Facebook? So they are stepping up or at least tell Facebook that they are not in control here. If they are willing to pay that's fine but at least they know that the government is not closing their eyes on them.

The reason more they would have thought of working with him than attacking him, the worst would before them to go against him completely because all he would just need to do is change the Libra name to another and anonymously operate it, he has all the money to fund it and run campaigns, he would not even need to pay for campaign because the platform they will be using is his.

The way that I am seeing the Libra coins, I am not sure I=he is creating it to really deal with the government as people had speculated, I think he is only looking for a way to create a system that will be partially decentralize because of the last accusation that he had with the United states government as regards selling people's data and know that the aspect where blockchain functions most is the area of data management.

Hm, Facebook managed to effectively instill fears in representatives of the political and economic establishment, especially the USA. Now, they believe that this massive digital asset cannot be controlled by the US Federal Reserve and can affect the US dollar. In addition, it can become a tool to circumvent any restrictions that are imposed on operations for a number of subjects of the global economy.

I was having this discussion earlier, which brings to mind risk aversion. Facebook has been fairly successful from a financial standpoint, because it is willing to take the risks - and pay for them, in view of a much bigger reward. So to them, the risk to reward ratio is at an optimal level. If they continue making money, they will be at a sweet spot for a self-enclosed crypto economy. That's why regulators are targeting them, that's why the crypto-community is taking turns bashing and praising them.

No, I think they won't stop paying that fine. because they still have a great idea and have a lot of great partners in the liquidity service sector.
Why are they stopping when their businesses can make hundreds of billions of dollars in years to come?

They will definitely pay the 5 billion fee but I am not entirely sure if they will do anything to improve their security. I mean first of all the security risk here is not even breach or hardware or anything like that. Its more about how people could use their marketing system for ruling a whole country, that is the problem.

I mean we get to see how awesomely it works with getting trump... if a bad person takes advantage of facebooks system they could funnel millions of dollars right into facebook to target people who are on the fence about elections and they can win elections that way. I would say as long as facebook keeps collecting data about people there is really not much we can do to stop them because they will keep selling it like they are just helping people do marketing.

Just a drop in the bucket. I don't think government oversight would prevent things like the Cambridge Analytica scandal from happening again. With these big companies, they just get a slap on the wrist fine and proceed to do it again.

Now let's see if people would support Libra. It seems people there in the US do make fun of Zucc and are trying to wean themselves of FB and co but it's still a popular platform in developing countries.

Will you believe that Facebook will do what they have come up with? Will they pay 5 billion dollars to upgrade security and protect user information? Will Facebook stop collecting user information and do you think companies will continue to use the Facebook platform to promote their businesses through ads?

Believe ir or not Facebook will pay what they have to pay.
And please do not ask to many empty questions in one post.
Thank you.

Issues of facebook coin looks down and we not hear anymore about they have trying or not for listing Facebook coin, just cross like water without have any good news.

Will you believe that Facebook will do what they have come up with? Will they pay 5 billion dollars to upgrade security and protect user information? Will Facebook stop collecting user information and do you think companies will continue to use the Facebook platform to promote their businesses through ads?