Topic: 🔵 Facebook Agrees to Pay $5 BILLION, BUT will they ever stop?? - page 7. (Read 1247 times)

What is even more shocking is that most of the people nowadays don't even care
if someone uses their data and information and sells it...
Imagine that same thing for them using crypto  

After listening senate hearing...I think that all government want is SWITCH OFF button to any person they want.
And Facebook will provide them that 'function' I am 100% sure.
They cant have that with cash money, gold or Bitcoin.

They agreed to pay to settle this case down but the government wont stop on that, as we hear from the recent hearing about their Libra coin, the government really preventing them from making their own coin. I know Facebook will not also stop from here, they will still go and create their coin and by that time it can create more money for them. The government will regulate more cryptocurrency because of Libra coin, i hope its for the good of the people and not for their own interest.

In some ways we are forced to use banks. Some companies tell you in which bank you can receive salaries, at least in my country its like that. But who force people to use facebook? How many people will pay attention on what facebook is doing with their data? More then 2 billion people have account there! I bet that more than 90% from all of them doesn`t even know what facebook is doing and for penalties they are paying. Question is how many people is aware of what banks are doing too.
People need to educate themselves, I can`t think off any other conclusion. People need to learn about what they are using, and to try to understand how system works. When majority becomes more educated we can change the world.

With them having a recent case loss I think all eyes are on them especially the ones who are handling the topic of Libra. I'm pretty sure with their own kind of cryptocurrency the government wouldn't allow them to add an extra set of feet in by putting a lot of privacy violation with their Libra. They might even go as far on changing the whole Facebook interface on what users can show and what they cannot show, before even touching the subject on how Libra will be implemented in their website.

Great observation.
I am thinking similar like you.
Best way to get quick income and make circus entertainment for the masses.

Banks have never stopped with their shady activities after having paid billions in fines, so it's safe to assume that Facebook won't be stopping either. Governments don't mind them because it means billions of extra income.

If governments really cared they would find a way to get banks to not make the same mistake again, but why would they? It's much more profitable to let these corporations make the same mistake over and over again.

The only way for Facebook to stop is to have people stop using them on a worldwide scale, but that's not going to happen either. We have to accept that this is the way the system works. It's pointless to wait for improvements.

https://is.gd/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.





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.