3 ms·

Well, well, well suddenly it looks like everyone who is making money thanks to current status quo is withdrawing from initiative/opposing it. Probably it means

by pxtail 7y ago

Well, well, well suddenly it looks like everyone who is making money thanks to current status quo is withdrawing from initiative/opposing it. Probably it means that FB is doing something right... Question is if FB is strong/clever enough to keep moving forward.

benj111 7y ago
Why were they in the initiative to start with then???
- jimmaswell 7y ago
  PR and to make it look bad by withdrawing, maybe.
adjkant 7y ago
Or that no one trusts Facebook and companies realize that, and no one really thinks they need Libra?
- pxtail 7y ago
  Who is this "no one"? HN commenters living within bubble? Of course "companies realize" - this idea is a game changer, it could make them partially obsolete or quite heavily decrease profits. On the other side of equation there are over 2 billions [0] of users, users who WILL GLADLY USE this cryptocurrency if/when it becomes available. [0]https://www.statista.com/statistics/264810/number-of-monthly-active-facebook-users-worldwide/ https://www.statista.com/statistics/264810/number-of-monthly...
  - adjkant 7y ago
    > Who is this "no one"? HN commenters living within bubble? The negative press cycle they got over the past year was quite public, not in a bubble. > On the other side of equation there are over 2 billions [0] of users, users who WILL GLADLY USE this cryptocurrency if/when it becomes available. In what world does a Facebook user = someone who wants crypto? Most people don't even know what it is, let alone trust it enough to put real money into it. Reminder, most Facebook users don't even have a payment method associated to their account because Facebook is free. That barrier alone is big. Then you have people that know crypto from last year and that it's a risky investment that doesn't make any sense and crashes. Again, what Facebook user thinks they need Libra?

3 ms·

Well, well, well suddenly it looks like everyone who is making money thanks to current status quo is withdrawing from initiative/opposing it. Probably it means

by pxtail 7y ago

benj111 7y ago
Why were they in the initiative to start with then???
- jimmaswell 7y ago
  PR and to make it look bad by withdrawing, maybe.
adjkant 7y ago
Or that no one trusts Facebook and companies realize that, and no one really thinks they need Libra?
- pxtail 7y ago
  Who is this "no one"? HN commenters living within bubble? Of course "companies realize" - this idea is a game changer, it could make them partially obsolete or quite heavily decrease profits. On the other side of equation there are over 2 billions [0] of users, users who WILL GLADLY USE this cryptocurrency if/when it becomes available. [0]https://www.statista.com/statistics/264810/number-of-monthly-active-facebook-users-worldwide/ https://www.statista.com/statistics/264810/number-of-monthly...
  - adjkant 7y ago
    > Who is this "no one"? HN commenters living within bubble? The negative press cycle they got over the past year was quite public, not in a bubble. > On the other side of equation there are over 2 billions [0] of users, users who WILL GLADLY USE this cryptocurrency if/when it becomes available. In what world does a Facebook user = someone who wants crypto? Most people don't even know what it is, let alone trust it enough to put real money into it. Reminder, most Facebook users don't even have a payment method associated to their account because Facebook is free. That barrier alone is big. Then you have people that know crypto from last year and that it's a risky investment that doesn't make any sense and crashes. Again, what Facebook user thinks they need Libra?