No thanks Facebook and bitcoin a bad choice in my opinion.
1 Like
It is (theoretically) neither Facebook (but rather an independent non-profit) nor bitcoin (but rather a payment technology built using a blockchain).
So thereās no need to say āno thanksā at this point. See my post prior to yours to learn about why technologies like these could be really great. Which particular implementation will win out (if any) remains to be seen.
2 Likes
At the moment Iād say itās an irrelevance. When I have money itās in a perfectly useable currency so I simply donāt see the point. The Facebook reputation doesnāt enhance the appeal but that would only really matter if I thought this served a purpose in the first place.
Regulation and oversight will be issues to look at here too.
(Clearly all from my fairly narrow personal viewpoint. I canāt speak for wider world application.)
2 Likes
Theyāll add incentives to use the currency a hook of sorts
I only need to see the word āFacebookā and I move on.
2 Likes
The purpose is to help people that need to send money abroad (remittances) and that currently are paying huge fees, and in many cases donāt have bank accounts. It is clearly not for you, but for other millions of people across the globe mainly in developing countries.
It is also backed by NGOs trying to solve the remittance issues, and many companies such Visa, Master Card, Paypal etc. are also collaborating.
Facebook is a toxic name (i donāt use it and kind of hate it), but in theory it will be governed by many other companies and NGOs.
The idea is very good IMO and Iām looking forward to see how it develops.
2 Likes
This.
Perhaps the bigger question is why Facebook has decided to head down this path. Perhaps itās an insurance policy. If the central banks stop pumping new money into the system and the enormous debt mountain collapses, what happens then?
I read this this morning. It made for grim reading.
brilliant!
3 Likes
PayPal dropped out. Whoās next?
3 Likes
I think Tim Cook ( a CEO who I think is a decent human being one of the few I must add) made some valid points
1 Like
Mastercard, Stripe and eBay.
This whole thing is falling apart in record time.
5 Likes
Libra solus infirmi.
Visa are out too.
The withdrawals leave Libra with no major US payment processor, a serious issue for the fledgling project
Welp.
Ouch!
Curtains.
I think this thing is really dead.
Very few big players still involved.
1 Like
Iām gladā¦ FB do not deserve the privilege anyway. PMSL.