Bitcoin Forum

Someone please convince me that Facebook isn't going to analyze every transaction being made between family, friends and users. I think it's fair to us to have our privacy protected. They already know everything else about us and now they will have our spending habits?

David Chaum who is a OG cypherpunk and privacy advocate wrote to Mark early on asking if he could help with any future projects regarding privacy yet Mark didn't even respond. Instead David has set out to create his own privacy payments and messaging platform coined Elixxir.

Looking forward to seeing how both of these projects play out and how people choose privacy over none.

I wish people had a better understanding of why their privacy is so important. Especially in the means of transactions and how we spend money.  I worry how Libra will play out on other crypto

That part I think was on our privacy. Like our facebook account, when we make a post feed, there is an option that we can post it on public, on friend, or even only us. I really hope they can also see that.

Yes but it is dangerous to use Facebook also for financial transactions. Imagine what kind of data they can produce about our relationships.

I don't think that Mark Zuckerberg will pay attention about it. We are aware on how facebook works, it's free but if its free you know that the users are the product.
If they don't let themselves explore about the importance of privacy, they will never know that they are the product.

Facebook lacks privacy it is one of the concern when libra coin was announced, Facebook haven't beem able to solve peoples concern about their privacy, hopefully libra won't have the same issue like it's parent company.

There is no doubt in my mind that these guys are planning to utilize the data from our transactions. How do you think Facebook makes money? by the ads right. so businesses have to pay facebook for their analytics to get the best ads. this will only continue with our transaction history

I'm not very interested in Libra, because this coin is a stable coin. besides, there are many obstacles due to US Government concerns.
but it cannot be denied that Libra has a very high hype, and will have a positive effect on cryptocurrency.

Facebook once encountered such issue, upon the same we cannot conclude the further development and the existence of new services to be the same. As in the quote some issue was there with the privacy on Facebook and this time they will be careful in this with libra as it is much concerned for some reason, particularly transactions were taking place through this.

A big company that was following any orders created by the government and i think that will not happen. Libra is a stable coin and any transaction will be transparent and it will be a lack of privacy to the users. I don't put a high expectation as the result of the libra to our community. maybe HNC is more anonymous than it.

Alot of experienced cryptoneir have already presume the Mark and team project to be centralized cause Mark is not blockchain developer but a business man, technology entrepreneur and philanthropist so we shouldn't expect any decentralized coin from him for he will only do something which will favor him not the crypto community :o just like he does with Facebook.

Next time provide the link to this post so we can actually confirm your claim to be true.
That's how things work here.

They got the best item to get into people. Yes,as you all said privacy and personal information. In this way, they can get you as your customer and they eill for sure use it for marketing purposes. I would say it is like we already sold our privacy when we signed up to the platform.

Right now there is a US interference, so they have to pass questioning coming from US government, before they can begin work for their new coin, I'm sure US authorities will look into that, because it is what they want to know also,because of Facebook's abuse of it's users privacy.

I am not really that big on privacy depending on how much privacy we are talking about. If you mean getting my name and my id and my photo and all that than it could be risky, I have given literally all my KYC information to exchanges to be able to withdraw my money anyway whereas these facebook stuff will take "what is his hobby" type of data from me, they can get instagram type of photos as well which I do not use but still they can do it but the most important one is your national ID, as long as that is still a secret you are fine and I am pretty happy with giving away my name and photos, those are useless stuff.

However, the sad thing is we are not getting anything in return, you have to pay for libra, so if you use libra you are spending a fee that is your privacy without getting anything in return.

"Decentralization" & "Re-Centeralization" !!!
That's the whole point ... While Bitcoin and its derivatives are trying to decentralize human life ... Facebook has made a move that will be central to the usual. I think it's unreliable that a company with so much data is in its own hand!

It is not hard to imagine,giving the fact that Facebook is number 1 when it comes to privacy violations. There isn't of a cryptocurrency when the government or some corporate entity can monitor everyone of your transactions

I don't think Facebook will not do it, of course they will analyze the shopping habits of users. In my opinion this is a policy that already exists and is applied on many platforms, such as Amazon, you can see the related items below, yes it appears because Amazon analyzes what you need.
Moreover, Facebook, Facebook is a free platform, of course we already know about advertising, yes Facebook has Facebook ads in its business field and if you ever advertise here, surely you know how to target your ads well.
Maybe your data isn't fully published, it's just that they analyze something that is related to us.

you must becareful with Libra.
i don't know but i see the something wrong there, maybe it is just my feeling but i really don't like it.
just take a research first before you start invest in LIBRA.

tbh its a very controversial news. on the one hand Global coin will be really easy to get, retain & use it. But on the other hand we dont know exactly about its safety and real purpose.
however, it seems to be good payment system.also u can read more information here https://finance.yahoo.com/news/facebook-inc-fb-wants-more-220415665.html

I don’t really understand why so much criticism about Facebook libra coin
Literally, Facebook has everyone personal details family lines as well as chat history m
Which means Facebook can decide to read through your chats

So libra coin isn’t gonna expose your privacy, Facebook didn’t privatize your information to begin with

of course libra will not expose our privacy,,
but for me this project will be a centralized cryptocurrency,
and thats not good because the basic reason why cryptocurrency born is to make a fair system for all, wich called decentralized my friend

There is no assurance that our transactions are not going to monitored even if government need something fcebook will give all the details about transactions so there is no privacy at all so just choose a decentralized if you want to maintain your privacy.

I cannot convince you since facebook has leak incident.
If our privacy can't be protected anymore, then using cryptocurrency will become uneasy.
Some crypto coins are private/anonymous, there is no point for using platform that cannot protect our privacy.

May I know what do you see why you give that warning to us?
Libra is just a stable coin, for me it will not be a threat to bitcoin or any altcoins in the market that has volatility.

In terms of growth, I guess Libra would really be a big help to boost the crypto market, if they'll launch successfully, I'm expecting more will welcome them that those who have doubts on them.

I don't think the information they will be getting from people's usage of Libra coin is something they will be sharing out. They are only going to be using it for their adverts. Just like I have seen people say, they will use the coin to know what you're purchasing, the things you like purchasing often and when you purchase them. And with information like that, they will know how to properly target their ads to you, so that you can get ads that will interest you at the right moment when you will be needing them. I don't know if I'm giving any information to them. Even on my Facebook account, I didn't give any information about myself apart from age and name..

hey , everyone. recently i have found an interesting thread regarding this discussion. You can check it following the  link. (https://bitcointalk.org/index.php?topic=5155721.msg51512527#msg51512527)

Many concerns have been raised with regards privacy seeing that Libra launch is coming.  Well, we already know Facebook has been accused severally of privacy leaks, but let's analyse this in two different Views.  View 1: privacy protection is cool but facebook hasn't really been up and doing in this regard.  VIEW 2: Libra will enhance mainstream adoption because many people will get to use crypto.  So summarily, LIBRA  is a welcome development since what we need most in crypto space is adoption, without which crypto is going no where.