Facebook’s cryptocurrency

[Rafa.the.Magnificent]

Well I have only the slightest understanding of Bitcoin or any of the other cryptocurrencies out there, and similarly clueless about this “Libra” I’m hearing about. The fact that it is associated with Facebook adds a different dimension though, or at least I would imagine. I am not on Facebook and don’t follow anything much about it, however, this does tickle my interest for some reason. How will this benefit FB? How will they use it, I wonder.

Maybe some of you have comments, maybe not! Happy Thursday!

Meta's Novi Service to Be Phased Out: What You Need to Know

Facebook's parent is getting out of the troubled cryptocurrency project.

www.cnet.com

 

[ollinger]

With any luck your financial account information will be more privately held than everything else at Facebook

 

[Tennease]

"In his testimony on Wednesday, Zuckerberg acknowledged that having people use Libra would likely drive up the cost of advertising on Facebook, which would benefit the company".

 

[Chadalina]

With any luck your financial account information will be more privately held than everything else at Facebook

They never claimed it to be private (its free duh), everything you put there belongs to them. Its always been that way, people are just dumb to use it. Hearing people complain about privacy concerns today just shows their ignorance

Im in favor of it if maxine is against it. I doubt she even knows how to turn on a computer much less bitcoin.

As I have examined Facebook's various problems," California Rep. Maxine Waters told Zuckerberg as she opened a hearing before the House Financial Services Committee. "I have come to the conclusion that it would be beneficial for all if Facebook concentrates on addressing its many existing deficiencies and failures before proceeding any further on the Libra project."

 

[Deleted member 766172]

From what I've heard (and by heard I mean looked up on the internet) it's not even really a cryptocurrency, at least in spirit. However, it will get people familiar with cryptocurrencies and will be good for us who have invested in this emerging asset class. You gotta take advantage of an emerging asset class. It can be life changing.

Sorry I just rambled instead of answering your question.