Topic: Is Facebook’s Libra a nuclear crypto weapon built by the West? (Read 202 times)

I'm convinced that at least part of the impetus behind Libra is Facebook wanting to expand its acquisition of user data into the financial sphere. 'Surveillance Capitalism' has been the primary aim of Facebook for many years, and the primary driver towards profit. The behavioural prediction models they have are already very advanced, and adding in a big source of financial data will improve and expand their models considerably. They will use this as they always have to a) sell to advertisers and other third parties, and b) to influence our behaviour towards what is 'desirable'.


They are masters of obfuscation, misdirection and euphemism. This relentless positioning of themselves as beneficent overlords will not end well.

"India and China, the 2 biggest challengers in Asia to the US Dollars are the main target of this war. If people are using Libra instead of their national currencies, this will strengthen the USD and weaken the Asian’s currencies with serious consequences for these economies."

Preferring Lybra over their country's currency is hard there since China is already control focused and even has control over the citizen's mobiles and communist party is not going to let 3rd party payment provider let loose under their control.
Whereas in India they're becoming more control oriented after the new government, So it's not going to be like before where you can launch anything here and influence people there.

You probably do not understand a little, at the moment there is a slightly different spectrum of people in the cryptocurrency, they think differently, and in this connection there will be no coup, there is already forming its own ecosystem that is not so easy to destroy with only a wide range of users, so also and such, most of which are simply not even familiar with cryptocurrency, but at the same time it is good, as it will lead more people to cryptocurrency, but something unreal will not happen.

I wrote this:

Is Facebook’s Libra a nuclear crypto weapon built by the West to win a currency war against Asia?

The article is here:
https://medium.com/@nicolas.choukroun/is-facebooks-libra-a-nuclear-crypto-weapon-built-by-the-west-to-win-a-currency-war-with-asia-44bff10ef4d4

If you create a crypto currency like I did with the Kryptofranc (KYF), nobody really cares about what you are doing and what will be the consequences of it.

When Facebook does it, you might ask yourself, why are they doing it? Because it is not some small project without consequences. The rhetoric from the social network giant is that Libra is designed to “ …help 1.7 billion people who are completely unbanked”.

There are over 300 million Facebook users and over 400 million WhatsApp users in India, which means that Facebook’s new currency could threaten the Rupee, the Indian’s national currency.

Wang Xin, director of the People’s Bank of China (PBOC)’s research bureau stressed yesterday that Libra could potentially be a problem for the Yuan too, the Chinese national currency.


Now who is going to control the “nodes” since there is no mining? The founding members include payments giants Mastercard, PayPal and Visa, as well as tech majors like eBay, Lyft, Spotify and Uber.

If you place yourself above the rhetoric, and see who can profit and who can be hurt by the Facebook currency, you realizes that Libra might be a weapon, brought by the West in a currency war with the Est.

India and China, the 2 biggest challengers in Asia to the US Dollars are the main target of this war. If people are using Libra instead of their national currencies, this will strengthen the USD and weaken the Asian’s currencies with serious consequences for these economies.

The two countries are aware of the danger and immediately announced that they would ban Libra and even maybe all Crypto-currencies in consequence.

The fact that Mastercard, Visa and Paypal are behind Libra is the smoking gun. You can notice that all the voices in America who complained about Libra were shut quickly, why?

Libra is not going to do any problem to the USD, because it will actually fight for it, and will be the crypto USD with another name that will be controlled by the same who are controlling the finances in the West.

No Asian companies will run a Libra’s node. It is exclusively Western and Wall Street controlled.

Libra is a currency weapon and is very smart. It has no way to fail and can be lethal for Asia.

Either Libra expends in Asia through Facebook and Whatsapp, and then the West take the control of part of the Asia finances and banking, or it is banned and then all the Cryptocurrency dies.

Because the laws against Facebook in Asia will hurt the crypto economy as a whole and will ban millions of investors to trade them, this will have a tsunami effect that might send the capitalization in crypto to a fraction of what it is now... or even worse.

Visa, Mastercard and all the financial institutions may well kill the crypto with Libra, and this currency war. In any case, they win and as crypto investors we lose. If the crypto loses 90% of its value the US will blame Asia for their protectionism and will take the control of the crypto economy as well.

Libra seems to be an evil plan, a nuclear crypto that will have only bad consequences for the crypto economy.