3 ms·

I get the impression from the article that no lawmakers had knowledge of the protocol. I hope Facebook does not plan to introduce this "sneakily" without taking

I get the impression from the article that no lawmakers had knowledge of the protocol. I hope Facebook does not plan to introduce this "sneakily" without taking into account laws and the financial issues this can introduce. Honestly, I really hope this project is stopped as soon as possible. Facebook already has way too much influence in our lives. It controls news, messaging and relationships with others, and it has not been managing them in a responsible way. Why would anyone let this company control money too? What happens if Facebook causes a financial crisis? Who will be controlling them? Who will they be accountable to? What happens if Facebook goes bankrupt? Libra is a project with way too much risk for the benefits it offers.

gtirloni 7y ago
You don't have to use Libra, or Bitcoin, or Ether, or...
- gjulianm 7y ago
  This is not another app. This is Facebook saying that they want to create a widespread currency, not just a payment system. And I don't need to use it to become affected by the monetary policy of the behemoth that Libra could become.
  - buboard 7y ago
    Ah, not in my backyard
    - gjulianm 7y ago
      Do you care to expand?
      - buboard 7y ago
        People having terrible economic backyards may want to move near you. Yet you say they should be stopped because they ll ruin your view. [it doesnt have to be facebook's currency, any cryptocurrency could have major monetary policy implications]
        gjulianm 7y ago
        >People having terrible economic backyards may want to move near you Nothing to do with that. Facebook is saying that they have a new lawnmower that could improve some lawns, and I'm saying to stop it because Facebook has shown that it does not care about anybody's lawns but their own, and their lawnmowers could very well accidentally release asbestos to screw users and non-users alike. >any cryptocurrency could have major monetary policy implications Yes. However, up until now no cryptocurrency has had the full backing of a behemoth such as Facebook. Facebook could very well use their power to act as a bank and as a financial actor bypassing regulations put in place to avoid problems.
- faissaloo 7y ago
  Not yet, so lets not let it get to that point. Fiat is bad enough.

gtirloni 7y ago

You don't have to use Libra, or Bitcoin, or Ether, or...

gjulianm 7y ago
This is not another app. This is Facebook saying that they want to create a widespread currency, not just a payment system. And I don't need to use it to become affected by the monetary policy of the behemoth that Libra could become.
- buboard 7y ago
  Ah, not in my backyard
  - gjulianm 7y ago
    Do you care to expand?
    - buboard 7y ago
      People having terrible economic backyards may want to move near you. Yet you say they should be stopped because they ll ruin your view. [it doesnt have to be facebook's currency, any cryptocurrency could have major monetary policy implications]
      - gjulianm 7y ago
        >People having terrible economic backyards may want to move near you Nothing to do with that. Facebook is saying that they have a new lawnmower that could improve some lawns, and I'm saying to stop it because Facebook has shown that it does not care about anybody's lawns but their own, and their lawnmowers could very well accidentally release asbestos to screw users and non-users alike. >any cryptocurrency could have major monetary policy implications Yes. However, up until now no cryptocurrency has had the full backing of a behemoth such as Facebook. Facebook could very well use their power to act as a bank and as a financial actor bypassing regulations put in place to avoid problems.
faissaloo 7y ago
Not yet, so lets not let it get to that point. Fiat is bad enough.