3 ms·

>It is not live yet, giving governments the opportunity to kill this project before it actually gets off the ground and gives rise to cybercriminals that couldn

>It is not live yet, giving governments the opportunity to kill this project before it actually gets off the ground and gives rise to cybercriminals that couldn’t capitalize on existing cryptocurrencies. Excuse me, I need a minute to stop laughing... Ahem, alright. In what world are criminals going to prefer using a cryptocurrency overseen by Facebook (however directly or indirectly) to using coins like Monero or Zcash, which have been built with privacy-enhancing feautures? And who are these criminals who couldn't figure out how to use these coins who are suddenly going to be enabled by this new blockchain? I should have stopped reading there, this guy has no idea what he's talking about.

jddj 7y ago
The ability of criminals to capitalise also depends on the people being exploited, no? When the proverbial Nigerian Prince's legal fees are denominated in Monero there's a much higher barrier to entry for the average scammee. One could see this lowering significantly with the adoption of Libras. Although to me it also seems possible that in the face of government KYC-style opposition, Facebook will use their Libra to advance their Real Name policy, bringing them one step closer to being the true 1:1 online representation of a person, essential for more and more services and tracked in higher and higher fidelity.