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> No one is forcing anyone to use Libra its your choice. Don't be naive. - In order to make a choice, you need to be properly informed. Now, most people won't
by gjulianm 7y ago
> No one is forcing anyone to use Libra its your choice.
Don't be naive.
- In order to make a choice, you need to be properly informed. Now, most people won't have the time or interest to see what Libra is and what the consequences of widespread Libra adoption would be.
- Facebook can force a sector of their paying users (mainly advertisers) to use Libra.
- Facebook also has a lot of influence, most people use at least one of Facebook, Instagram or Whatsapp. Those apps can be used to advertise and push Libra.
- Once Libra adoption reaches a critical point, you'd need to use it because you need to buy things.
- You don't need to use it to suffer negative consequences due to a private foreign for-profit business controlling monetary policy.
- clarkmoody 7y ago> You don't need to use it to suffer negative consequences due to a private foreign for-profit business controlling monetary policy. And the track record of public, non-profit entities controlling monetary policy is ... great?
- gjulianm 7y agoNothing indicates that Facebook would have a better track record in controlling monetary policy (which is admittedly pretty hard), and at least central banks are under clear regulations and guidelines. Furthermore, Libra would have incentive to move the policy towards further profit for the members, while central banks have incentives to stabilize the economy.