It seems that Facebook's answer to problems is renaming and rebranding. Libra failed? Let's call it Diem and try again! Scandals over mental health issues and concerns over teen safety on Facebook? Let's make a Facebook metaverse and find a new name for it!
I hope this project will get killed by the US Congress, just like the previous one did. It's not like Facebook fixed their reputation issues over this time, and there have actually been more scandals since the Libra speculation times, so there's no reason for them to trust Facebook more now and let them proceed with this. I don't think I'll use Diem even if it launches. Facebook already knows too much and has too much power.
Topic: Facebook Diem on the run for launch - page 4. (Read 639 times)
Related to Facebook, they've just launched their digital wallet, Novi. There's not yet Diem on it but only Paxos. They're partnered with Coinbase and the test will happen only for two countries, Guatemala and US. No fees upon usage of the app when you're sending from point a to point b. Just like the off chain transactions which are for free.
Source: Facebook’s digital wallet finally launches... without Diem cryptocurrency
Source: Facebook’s digital wallet finally launches... without Diem cryptocurrency
My two questions are.. does anyone even use Facebook anymore? I haven't checked it out in years and I feel better than ever before.
You'd be surprised with how many people are still using Facebook and even using it as their primary platform for their own communities and whatnot, especially in third-world countries. I'd be honest, I'm still on Facebook, but only for the memes and nothing else.
I'm also somewhat surprised at the number of people who trust Facebook with their information. I have many acquaintances who are already zombified by this company. It is absolutely impossible to convince them of any things, since these people blindly trust everything that is provided by Facebook, slipping everything that they agree to believe in.
But if you look at the entire history of scandals behind this company, expect something global, trustworthy, I simply do not have the strength.
https://guild.co/blog/complete-list-timeline-of-facebook-scandals/
i see this as being the primary currency used within Facebook's site along with Instagram for activities that can be monetized like live donations and promotions. Pretty simple use-case but for a site as big as Facebook this will definitely come in handy for them. What I am against about this however is the fact that it is centralized and is probably governed by Zuck himself. I don't think it really follows the freedom approach that Facebook has been advertising since its conception but then again I understand why they are to centralize this technology and not open source it for everyone.
We've been hearing that Zuckerberg is gearing up to launch the Libra / Diem stablecoin for several years now. It would be much better if he actually did something already. We also remember what difficulties were previously with the launch of this stablecoin. Regulators have strongly opposed the Facebook and stablecoin merger due to the private concentration of significant confidential information on 5-6 billion people. The finance ministers of the European Union countries stated that they would not allow such a stablecoin to circulate on their territory. At a meeting of the US Congress, Zuckerberg promised that this stablecoin would have nothing to do with Facebook. What has changed now? In my opinion, nothing.
I don't even know if this is something that will come out sooner because it's not advertised or even discussed within the platform where it is supposed to be catered towards. I'm not saying he's making us wait for nothing because I am not waiting in any way for this coin to arrive lmao. Just that there has been no direct statement from anyone within that site stating that Zuck or at least Facebook is creating a cryptocurrency that is meant for use within that site itself, with some outer activity use-cases. 
The launch of DIEM in the near future I think will not have too much impact on the cryptocurrency market.
The appeal that this news creates is not great, and the fact is that not many people care about this news. Personally, I also don't see the attraction of DIEM if it is simply a trading application with a large corporation behind it, and that is not what I need in the market.
The appeal that this news creates is not great, and the fact is that not many people care about this news. Personally, I also don't see the attraction of DIEM if it is simply a trading application with a large corporation behind it, and that is not what I need in the market.
We've been hearing that Zuckerberg is gearing up to launch the Libra / Diem stablecoin for several years now. It would be much better if he actually did something already. We also remember what difficulties were previously with the launch of this stablecoin. Regulators have strongly opposed the Facebook and stablecoin merger due to the private concentration of significant confidential information on 5-6 billion people. The finance ministers of the European Union countries stated that they would not allow such a stablecoin to circulate on their territory. At a meeting of the US Congress, Zuckerberg promised that this stablecoin would have nothing to do with Facebook. What has changed now? In my opinion, nothing.
There are too many people who are expecting this to happen, I do not understand why they have postponed it too much, but facebook has been going great, the "company" of course, not the social media alone. I believe that if they do this then they would make a huge return when they actually do this.
Think about facebook becoming like a bank thanks to this. I think the reason why they haven't done this so far should be something like a legal reason, if they are not doing it then there must be some legal reasons and that seems to be the main reason why they are not doing it. If they could, they would do it already because there is so much money to be made from it.
Libra was rebranded to Diem which we are currently seeing as of this moment.We dont know on how it do end up on this name but for sure it would really connect out with some legal issues.Think about facebook becoming like a bank thanks to this. I think the reason why they haven't done this so far should be something like a legal reason, if they are not doing it then there must be some legal reasons and that seems to be the main reason why they are not doing it. If they could, they would do it already because there is so much money to be made from it.
Did make out some search about their definition of Diem.
Diem (formerly known as Libra) is a permissioned blockchain-based payment system proposed by the American social media company Facebook, Inc. The plan also includes a private currency implemented as a cryptocurrency.
Source: https://en.wikipedia.org/wiki/Diem_(digital_currency)
Implemented as a cryptocurrency? I dont think so.
There are too many people who are expecting this to happen, I do not understand why they have postponed it too much, but facebook has been going great, the "company" of course, not the social media alone. I believe that if they do this then they would make a huge return when they actually do this.
Think about facebook becoming like a bank thanks to this. I think the reason why they haven't done this so far should be something like a legal reason, if they are not doing it then there must be some legal reasons and that seems to be the main reason why they are not doing it. If they could, they would do it already because there is so much money to be made from it.
Think about facebook becoming like a bank thanks to this. I think the reason why they haven't done this so far should be something like a legal reason, if they are not doing it then there must be some legal reasons and that seems to be the main reason why they are not doing it. If they could, they would do it already because there is so much money to be made from it.
My two questions are.. does anyone even use Facebook anymore? I haven't checked it out in years and I feel better than ever before.
You'd be surprised with how many people are still using Facebook and even using it as their primary platform for their own communities and whatnot, especially in third-world countries. I'd be honest, I'm still on Facebook, but only for the memes and nothing else.
And then, how do people still trust them? They've heavily influenced so much stuff around that I would never trust them again. When they've shown multiple times in a row how they don't care at all about your privacy and manipulate your feelings intentionally through various creepy experiments, how the hell do you get to hype up Libra Diem..?
That's the problem with those who continuously use Facebook as their primary social media platform and number one source of information: Facebook changed a lot, hence why they still trust it as they believe that it became so big of an entity that it can do no wrong. Wrong thinking, I know, but that's what most people using Facebook believes in, and it sucks.
Rebranding Libra into, uh, Diem, doesn't do anything really. Those who already knew what Facebook is about on its cryptocurrency will simply avoid touching it. I don't think there's a chance that Facebook's crypto will perform that well given that all eyes are focused on it, and a lot of people are waiting for Facebook to fall.
I think we can already say the whole situation involving Facebook's crypto currency is a never ending novel. I'm hearing about it for years and so far it hasn't been launched yet. From times to times they come with something new, which ends delaying their crypto currency development. And there is actually a lot of uncertainties about this project yet, so that a partner project featuring Facebook's digital wallet called Novi, got tired of Libra or Diem, and decided to go ahead with the stablecoin Pax Dollar, initiating a pilot test in USA and Guatemala.
It seems Novi is going to be the focus of Facebook and Diem may stay in second plan.
It seems Novi is going to be the focus of Facebook and Diem may stay in second plan.
Wow, Facebook has big ambition with this Diem or Libra project, just imagine how many trillion money will flow inside their platform, and how many transaction in it comes from their marketplace, i cant imagine how the will get rich easily.
I hope my government will allow us to do transaction inside their platform, since its forbidden to buy and sell with crypto, we only allow to keep cryptos as assets.
But i hope Facebook will launch it soon, a next step to the future is more closer.
I hope my government will allow us to do transaction inside their platform, since its forbidden to buy and sell with crypto, we only allow to keep cryptos as assets.
But i hope Facebook will launch it soon, a next step to the future is more closer.
Facebook is a huge and giant company and its name is sufficient for the success of any project, but I expect that the main problem is in the centralization.
This is correct and prolly the reason why Mark Zuckerberg ever thought of launching a digital currency in the first place (libra), and yet after it's failure even when it hadn't kicked-off, he's planning to rebrand and launch it with a different name (Diem), that's bold imo, and the reason is cause they are aware of how big the company (facebook) is, we could prolly say quite a lot of us no longer use Facebook cause we have come to the awareness of the importance of privacy which facebook loves to encroach on; and we can say as well that their customers are declining, but notwithstanding millions of people are still active on facebook and what that means is that this coin can be hyped quite easily. Having said that, the coin is definitely going to be centralized which is obviously going to be an issue, but how many people are aware that centralization isn't actually good, especially when it comes to a digital currency, the thing is, people who are knowledgeable about crypto wouldn't use this coin, but such people are in the minority. 
I don't know if people have the same opinion as me, but is it really attractive to use if it's just a product created for payment from a large corporation. I no longer use a lot of FB, more precisely for privacy purposes that are no longer related to FB, and to me FB is a pretty shitcoin-like junk space.
But in a sense, the media will start spreading it everywhere (FB
) and that's all I envisioned it. And one thing's for sure, I'll never use it, I may or may not like it.
But in a sense, the media will start spreading it everywhere (FB
) and that's all I envisioned it. And one thing's for sure, I'll never use it, I may or may not like it.Same here. Facebook is on the decline. The latest quarterly reports confirm that. Many young people (14-34) use Facebook very little. Especially in developed countries. But this is the core target group that brings in the most money. There remain the older ones from developed countries and younger ones from not very developed countries. Both groups have one thing in common: they are still hardly active in the crypto sector. Accordingly, FB Diem could be an option for them. For someone who already owns other cryptocurrencies and knows how to handle them, the FB Coin is irrelevant and uninteresting.
I live in a developed country, and I am sure what you say is not entirely true. FB is still a top channel used by people (not me ) , we use it for so many things in our lives and also issues bringing products from the market we reach to other parts of the globe also rely on FB. But agree that this target group is quite young and has a certain amount of assets, but it does not mean that they need another tool to access cryptocurrencies, I am quite confident when talking about the country I have a lot of people are interested in crypto.
And the problem as you and I see is that it is only based on the same opinion and cannot be satisfied with all.
legendary
Activity: 2352
Merit: 4221
eXch.cx - Automatic crypto Swap Exchange.
That could be a benefit to helping bitcoin increase mainstream adoption. And that would be my main reason for supporting it.
Seconded, people don't actually realized how big Facebook is and the impact it'll be bringing into the industry if it does get its way in. It'll be free marketing for Bitcoin and this could be the reason for mainstream adoption. Also other competitors could easily follow their fullstep and before you know it, the industry becomes a multi-trillion dollar industry.
You mightn't be a fan of Mark Zuckerberg and the way he handles things but do know he isn't a quiter, one way or the other he's getting this done. Libra didn't work, Diem mightn't work as well but he'll surely going to get this done. Mark know there's a big potential multi-trillion market in the crypto industry and he wants to lead that. Facebook already has Instagram, whatapp, who knows what they'll be acquiring next. And for those thinking Facebook is dead, take a look at this (don't know how current it is though).
Image credit: https://www.searchenginejournal.com/social-media/biggest-social-media-sites/
So "Diem" will replace "Libra", I think Facebook chose to change the name to get rid of its former partners who had caused so many problems and hampered the Libra project and ultimately caused its death.
I do not know if "Diem" will be able to do what "Libra" did not do. Facebook is a huge and giant company and its name is sufficient for the success of any project, but I expect that the main problem is in the centralization. We saw a few days ago how a failure in the central Facebook servers caused Facebook to stop in the whole world, Everyone has come out to demand the creation of decentralized social media platforms.
Facebook has big dreams and really big projects but I don't know if it will succeed this time.
I do not know if "Diem" will be able to do what "Libra" did not do. Facebook is a huge and giant company and its name is sufficient for the success of any project, but I expect that the main problem is in the centralization. We saw a few days ago how a failure in the central Facebook servers caused Facebook to stop in the whole world, Everyone has come out to demand the creation of decentralized social media platforms.
Facebook has big dreams and really big projects but I don't know if it will succeed this time.
I get the impression, pressure was put on Mark Zuckenberg and facebook over the last 2 years to abandon the libra coin (diem -- carpe diem?) project. Have to give them credit for not folding under pressure.
There was a news story circulating a few years back about facebook data mining user meta data for profit. Normally I might expect that to reduce consumer confidence in facebook as a platform provider of financial payment options. Considering the recent popularity (?) of china's social credit surveillance system, perhaps such is no longer the case?
Facebook apps and games haven't been mainstream in quite awhile. (Does anyone remember how popular farmville was back in the day?) One natural progression to expect here, could be a facebook merger between their app and gaming sectors with their planned cryptocurrency unveiling. Whether ones opinion of facebook is good or bad. That could be a benefit to helping bitcoin increase mainstream adoption. And that would be my main reason for supporting it.
There was a news story circulating a few years back about facebook data mining user meta data for profit. Normally I might expect that to reduce consumer confidence in facebook as a platform provider of financial payment options. Considering the recent popularity (?) of china's social credit surveillance system, perhaps such is no longer the case?
Facebook apps and games haven't been mainstream in quite awhile. (Does anyone remember how popular farmville was back in the day?) One natural progression to expect here, could be a facebook merger between their app and gaming sectors with their planned cryptocurrency unveiling. Whether ones opinion of facebook is good or bad. That could be a benefit to helping bitcoin increase mainstream adoption. And that would be my main reason for supporting it.
I don't know if people have the same opinion as me, but is it really attractive to use if it's just a product created for payment from a large corporation. I no longer use a lot of FB, more precisely for privacy purposes that are no longer related to FB, and to me FB is a pretty shitcoin-like junk space.
But in a sense, the media will start spreading it everywhere (FB ) and that's all I envisioned it. And one thing's for sure, I'll never use it, I may or may not like it.
It will be spread for sure since it's Facebook and there's a relation to cryptocurrencies. That's all they need for the caption, "Facebook, made their own cryptocurrency called Diem".But in a sense, the media will start spreading it everywhere (FB
) and that's all I envisioned it. And one thing's for sure, I'll never use it, I may or may not like it.That's it, the news will blow up many FB users and those that don't like cryptocurrency as FB is starting to put their feet with their own product which is categorized as crypto too.
I don't know if people have the same opinion as me, but is it really attractive to use if it's just a product created for payment from a large corporation. I no longer use a lot of FB, more precisely for privacy purposes that are no longer related to FB, and to me FB is a pretty shitcoin-like junk space.
But in a sense, the media will start spreading it everywhere (FB ) and that's all I envisioned it. And one thing's for sure, I'll never use it, I may or may not like it.
But in a sense, the media will start spreading it everywhere (FB
) and that's all I envisioned it. And one thing's for sure, I'll never use it, I may or may not like it.Same here. Facebook is on the decline. The latest quarterly reports confirm that. Many young people (14-34) use Facebook very little. Especially in developed countries. But this is the core target group that brings in the most money. There remain the older ones from developed countries and younger ones from not very developed countries. Both groups have one thing in common: they are still hardly active in the crypto sector. Accordingly, FB Diem could be an option for them. For someone who already owns other cryptocurrencies and knows how to handle them, the FB Coin is irrelevant and uninteresting.
It shouldn't be in thesame category as Bitcoin and other true cryptocurrency if it's not going to be decentralized. Cryptocurrencies without decentralization should be classified as false cryptocurrencies. Their lack of decentralization cancels all the other benefits of true crypto such as transparency, censorship resistant, immutablity, privacy, full public consensus etc
A truely decentralized cryptocurrency shouldn't be offline or shutdown for even a few minutes, not to talk of shutting down for over 10 hours for maintainance and upgrade
Think about this.
By the way, the true reason for the "maintainance and upgrade" determines how safe the Facebook coin will be in centralized hands
A truely decentralized cryptocurrency shouldn't be offline or shutdown for even a few minutes, not to talk of shutting down for over 10 hours for maintainance and upgrade
Think about this.
By the way, the true reason for the "maintainance and upgrade" determines how safe the Facebook coin will be in centralized hands
My two questions are.. does anyone even use Facebook anymore? I haven't checked it out in years and I feel better than ever before.
And then, how do people still trust them?
Most people were still using Facebook are matured or old, it's cringey to see the timeline are full load of birthday messages. However the rest shift to use Instagram as the UI is more modern.And then, how do people still trust them?
Facebook, Instagram, Chrome, and Whatsapp doesn't care about privacy and they store any data your submitted to them. Using all of them are worse, they will know anything from you. Let's say you search "Cheese" on Facebook, don't surprised if you see Cheese ads on Instagram.
Jump to: