Facebook’s Libra cryptocurrency: Privacy and stability concerns

Re:Facebook’s Libra cryptocurrency: Privacy and stability co... by leppr on Monday June 17, 2019 @06:45PM (#20208073)

You are severely over estimating the integrity of cryptocurrency enthusiasts. Some of the most highly valued "cryptocurrencies" today are centralized tokens handled by companies with worst reputations than Facebook (XRP, EOS, Tron, ...), yet people do buy and use them. If anything the communities from these tokens might flock en masse to Facebook coin.

And if Facebook actually manages to pull off a system where they can't be compelled to freeze accounts, it might also steal the user base from those traditional payment apps.

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Re:Facebook’s Libra cryptocurrency: Privacy and stability co... by root_axis on Monday June 17, 2019 @07:17PM (#20208256)

> yet people do buy and use them.

I mean some people do, but they're a very small niche.

> communities from these tokens might flock en masse to Facebook coin

Yes, I agree, that's what I said in my OP, but this is a relatively small group of people, and they will likely only use it as an onramp into spendable money and continue to favor their preferred token.

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Re:Facebook’s Libra cryptocurrency: Privacy and stability co... by buboard on Monday June 17, 2019 @09:41PM (#20209107)

and even bitcoin, between its drugdealing beginnings , and cartel behavior of miners is not much more trustworthy. What actualy matters is that all facebook users will learn what a digital wallet is and will become a potential cryptocurrency user.

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