Bitcoin Forum

From Cambridge Analytica scandal to actually selling people data for money
Facebook already used their power in the wrong way.

Libra will turn FB into the largest bank in the world (User base wise)
Can we really trust them when it comes to money?

What will happen when FB/Libra will get hacked again?

I guess i'll never ever trust facebook... Not with my data, not with my money... However, i might use libra depending on the technical data in it's whitepaper. It's perfectly possible libra will be safe even if facebook gets hacked... But untill i've actually browsed trough their whitepaper, i can't say for sure

before you talk about all this , smart mind which is relative because what i say it stuff kids ...to get to complex places where top smart people search alot of time answer....this section and what you ask show something very wrong with your logic....

lets see why...

few people all day long talk about libra project coin and promosing project and go to other related stuff while someone smart outside relative to this people he called smart say to them its not investment the price of stable coin dont grow its just exchange like exchange usd to euro its not investment....

so how it can be promosing????

then he say to them if you exchange to something stable its better will be gold or diamond compare to new thing like crypto...

then he say why people invest in real crypto the price can grow very high and some of them even can be astronomical in the future....

they invest not exchange....when you buy stable coin its called exchange

then he can get deeper but they probaly so dumb this people if they talk all day long about this kind of projects and cannot understand kids stuff...

its not decentralized.....its centralized tech,,,,facebook control your money and can lock it like paypal

but then this smart mind say them to get to this points is waist of time because stable coin its not investment its called exchange the price will not grow....so whats the point

but 98% its fact people on the web is uneducated and they dont analyze what they do and what they speak and other kids stuff **

the other side of the world is real crypto and there is where the smartest in the game go deep the rabbit hole, most of the activcites and do other intersting things to improve our future ...

reread this because its kids stuff i not talk about how to be fully anonymous, and how to bring complex idea to the world and market it and other cool  stuff

kids on reddit know this....yes kid in age 18


   
Re: Can we trust Libra after Facebook kept fail us when it comes to privacy &data?
Today at 03:14:05 PM
Reply with quote  Edit message  Delete message  +Merit  #3
Quote from: jonathan6655321 on Today at 02:58:02 PM
From Cambridge Analytica scandal to actually selling people data for money
Facebook already used their power in the wrong way.

Libra will turn FB into the largest bank in the world (User base wise)
Can we really trust them when it comes to money?

What will happen when FB/Libra will get hacked again?


before you talk about all this , smart mind which is relative because what i say it stuff kids ...to get to complex places where top smart people search alot of time answer....this section and what you ask show something very wrong with your logic....

lets see why...

few people all day long talk about libra project coin and promosing project and go to other related stuff while someone smart outside relative to this people he called smart say to them its not investment the price of stable coin dont grow its just exchange like exchange usd to euro its not investment....

so how it can be promosing?Huh

then he say to them if you exchange to something stable its better will be gold or diamond compare to new thing like crypto...

then he say why people invest in real crypto the price can grow very high and some of them even can be astronomical in the future....

they invest not exchange....when you buy stable coin its called exchange

then he can get deeper but they probaly so dumb this people if they talk all day long about this kind of projects and cannot understand kids stuff...

its not decentralized.....its centralized tech,,,,facebook control your money and can lock it like paypal

but then this smart mind say them to get to this points is waist of time because stable coin its not investment its called exchange the price will not grow....so whats the point

but 98% its fact people on the web is uneducated and they dont analyze what they do and what they speak and other kids stuff **

the other side of the world is real crypto and there is where the smartest in the game go deep the rabbit hole, most of the activcites and do other intersting things to improve our future ...

I'm reminded of the adage "power corrupts, absolute power corrupts absolutely". Interesting times coming up.

Facebook has never said that they will protect your identity from the regulators! Because if they try to add anonymity to Libra, they won't get permission to launch their currency in majority of the countries! So your identity is never safe with Facebook. The banking and money market regulators will have access to your financial data if you use Libra! You have to understand that Facebook is not trying to build a cryptocurrency (even if they are saying so)! They are just trying to build a digital payments bank in the disguise of cryptocurrency and blockchain!

We're just making assumptions. Just because that Facebook is hoarding data, it doesn't automatically mean that that will also be the case with Libra. Also, Libra is supposed to be open source, which is a big plus in my book, though I'm not sure about the Calibra wallet. The Calibra might be the platform for them to harvest our data, but hopefully we have the choice to use other wallets as to prevent this.

Actually, the choice is up to you whether you want to trust facebook as an investment scheme. Actually not an investment scheme since it's not profitable. But, look at how facebook is good in doing business. Just on that thing, you can see that it has an edge also. It is accommodating billions of people in the world. But for my side on this, I will not invest in libra, for it is a stable coins. Stable coins are stable, the price will not move.

all this answer is very danger to noobs and uneduacted people ....

some really smart its waist of time to talk about any stablecoin if it libra or tether why???/ the price dont grow and you just exchange value for value like used to euro nothing more and this is not investment at all as the smartest in the game go after top real crypto that grow by price...

from this point its waist of time to speak about this but to educate noob

its not decentralized tech its centralized tech ....if it open source or not it dosent matter hhhhh which show on your very low logic when you say its open source ....and what its mean,,,centralized tech can be open source nothing speciel about it.

and someone smart will exchange to gold or diamond for something stable rather then some shitty crypto

I close my facebook account 5 years ago because i don't trust them since then, they start as a social network and then become a social control, their philosophy is 'if you can't with the competence then buy it' and that's why they buy whatsapp and instagram... Now thay want to do the same with cryptos, they want to become the new ETH and we can't trust them, even if in some years people use more libra than bitcoin the best thing to do is to not feed the beast. I will never trust them.

bingo

Not because something is not invest-able it doesn't mean it's not worth talking about and that it can't be useful for a lot of people. Libra can be useful without being a speculative asset.

If all you want to talk about is moon and lambos then go to Reddit.

mate if they was bring real crypto coin with low supply and great tech and everything is top its ok and its help us and even can outperform ethereum....

at last in this point he stand with us with the change, and help...but the libra is not decentrlaized tech its centralized tech..

read why peer to peer file sharing was burn because before this the tech was centralized its mean few servers/entity/facebook/govermnetns hold everything....

in order for governmnets to shut down peer to peer=decentralized file sharing they need to shut down more then 500 million computers arouund the world...which mean computer a download movie from computer z while computer z is upload mp3 to computer d its peer to peer ...computer to computer compare to centralized where few main servers hold everthing and a and b and c and d and z computers communicate with the main servers to get the info,movies and so on

...

you mic going to drop and dont bring it back , its game over

from your answers you sound like some kid that even dont know what he speak...the people on reddit no body scam their ass they very smart and protect the commuinty there,,,and moon its the nature of real crypto nothing wrong to wait the moon with low supply real crypto.

you also uneducated as i very smart in economy and know very smart economist on the web the nature of stable coin is lose value over time and the prices in super markets and other stuff slowly go up and this is why we need real crypto....not stable because the paper money stable money compare to prices go up in supermarkets and other things dont help and stable coin over time lose value ask expert economist and expert blockchain or someone from MIT school i have ton friends over there.

its speculative because its new to the system....hhhh its not speculative because this is the nature of crypto

so here he simple answer but search graphs of stable money and see the curve how it lose value fast....the prices go up in super markets and cars and other things and houses and you basically exchange the stable paper money to stable crypto money and there is no difference

this is why satoshi team is so fucking calculated...

its kid stuff and when you say go on reddit , the people over did alot of them retire and some of the top activist seat there and hide even edoward snowdan

its impossible to bring the mic back after he fall in this kind of way its called game over === THE ANALYZER

stable coin over time lose value read about it look on graphs and ask expert economist ....the we have another problem the prices on houses and cars and supermarkets, clothes go up relative to the stable paper money which lose value and the system is get to the point where there is no exist ....

the moon is part of the low supply real crypto that grow and its fun wait for this....i was one the mind which make bitcoin viral with others without any salary  8)

then satoshi team come in find solution how to save the system even the prices go up in everything.....peer to peer money with low supply.

then super dumb people hhhhhhh create crypto stable coin which in fact its the same like paper stable money and dont bring any thing new the prices will continue to grow in cars,houses,clothes, and other and our stable crypto coin will fuck us like paper money

most of stable coins are scam and the only real stable crypto coin is code which produce or reduce supply coins relative to buy and sell to the coind and backed by itself not pegged to usd or gold or diamond which all this is scam,,,,,

its backed by self smart code...if people sell this coin the code reduce the amount of coin and if to much buy this coin the code produce more coins and in this way the code make stable price but overall stable coin dont help the prices in supermarkets and houses and cars,clothes go slowly up so the idea is bed and even more bed when the coin became main stream the price will not grow....

this is the only real crypto peer to peer coin backed by self smart code the other pegged to usd or gold or diamond or whatever is PURE SCAM but its relative to the mind that know to research.....


if i was ask you how stable coin work and what types of stable crypto coins...you will never answer me i know from your first of answer hhhhhhhhh

second time the hand fall the mic already on the fl00r

can anyone trust zuckerberg after all we know?he has to work really hard to earn our trust and respect.my opinion about him is he can do everything for money and power.

true

i haven't yet heard of any good reason why people keep repeating this!
just because a lot of youngsters are wasting their time on their social media it doesn't mean they are also going to use their payment processor services called Libra too.

Jeebus dude. I so want to make counter arguments but I really couldn't understand what you're trying to say no matter how hard I tried to decipher your statements.

I'm afraid only a minority only knows what Zuckerberg has been doing with Facebook. I mean, most of our relatives are still on Facebook aren't they?

what weird other understand them fast and you not hhhhhhhhhhhhhhhhhhhhhhhhhhh

somebody said me so great answer and first time i see it on bitcointalk and you dont get it


1. paper money= stable coin lose value over time see and read and ask experts in economy while paper stable money lose value with the time the prices in supermarkets/houses/clothes/cars go up....very simple no....

2. if you bring crypto stable coin its the same like stable paper money it will lose value over time and the price in supermarkets,houses,clothes,cars and other by nature the prices go up...

so what the point of stable coin???? we already saw what paper money which is stable money what he did while the prices on the markets go up..

3. real crypto coin can grow to huge number and while the prices in supermarkets and cars and houses prices go up slowly it dosent hurt because the value of crypto is much more high and grow compare to stable...

smart people that invest in something stable its gold and diamonds compare to shit stable coin which its called exchange nothing more and igf yes much better gold and diamonds.

the only real stable crypto coin is work on smart code which play with the supply coins which mean if people sell this coin the code reduce the amount of coins and if to much people buy the coin the code, add more coins to supply and by this keep stable price ...backed by it self code.


other stable coins pegged to usd,gold,diamonds are all scam...because the only real crypto coin is work on smart code which reduce and produce coins relative to buy and sell of the coin and by this keep stable price....but stable coins are bad in a system where the prices in super markets,house,clothes,cars go slowly up year by year....

with low supply sometime there is situation when the demand is so huge and the supply is very small and most of the people are holders which mean almost no way to buy coins....this kind of effect drive the value of the coin so high even almost no body sell them.....

in huge supply coins with billions its nver will happen and they need marketcap of trillion of trillions to get small price per coin and demand will never will be huge compare to supply in 30,40,60,100 billions coins,,,,relative to amount of people and other stuff....

but with low supply there can be efeect when the price of coin surge so hard becuase the demand is huge and the supply is low....and no body sell them its sky rocket the coin...

zcash spiked 2.3 miilon dollar per coin and was have much but much less marketcap and volume....

very interesting

I can't imagine one reason to use a facebook coin.  :P

Bro if we can't even trust them with our date even the smallest of details like what we are searching in the web what's make you think that their Libra coin will be more private comoared to their social media platform? Right now their main asset is our data and they will try to exploit it as much as they can in order to create the perfect solution for their Libra coin. There will be no exceptions for it as they have covered everything from messaging, social media and even search engines they'll exploit everything about us.

Libra is very hot. I think that their team will success since that Facebook has very professional marketing teams

Facebook is a platform for sharing personal data and in that respect it did exactly what it was supposed to do.
I don't believe they failed.

If facebook puts their code on github for libra, I'll trust the coin. The code can't lie.

Can we trust them? Well, it's hard to. Given that all the history they've made with all the controversies they had in the past, I think it's a little too impossible. However, I believe that we can at least try it for a test run. Sure, we do not want to use it for a long timespan. But just for a while, I think that'd be the best thing to do for when it is publicly released. All in all, we still don't want to miss the opportunity to be a part of something supposedly big, do we?

No, we can't trust Big Social for data privacy. And no matter what they promise in their whitepapers, they will find a way to get more than they offer. This is how enterprises flourish.
Whether we participate or not is irrelevant. The masses are on social and they don't give a shit.
What we can do is develop our own ecosystem and spread the word, so it can become bigger and stronger.

For me, nothing is secured this time, whether its a legal business we are participating into, just that we know whats the risk of it, our private data is important but facebook are doing their best to keep our data safe, (i dont know what how legit is this) and or if they leaked our info, then its time to think if their new currency could be good for us or not, but if we can make money on it, then why not, at the end of the day, business really matters.

It depends.
If facebook releases it's code for Libra to be openly viewed by users and uses a openly verifiable blockchain that we would have no reason not to trust Facebook.
As the blockchain itself won't be collecting any data, the application is going to be a thing to look at. Facebook would surely focus on an app wallet for mobile.

If you have been using facebook for a long time and communicate with you friends and family thru facebook, its just fine. You now will have a bank account without knowing. Seriously there is nothing to worry about it. Unless you also store your BTC and all other investment to them. Problem with facebook though is that they connect all and its going to be too late for you to protest.

I think for now we cannot answer it for sure, because libra is not yet a coin registered in the exchange. Why are we not waiting for him and then making a statement? Here I am patiently waiting for the launch, although I can only read it through the whitepaper for now. Be patient and keep positive thinking. Thanks.

Depends on context. Would I trust libra with all my information regarding where I spend my money? Hell no. Would I use it if it was on an exchange to move to stablecoin while bitcoin is going down and then use it again to rebuy bitcoin? Sure why not. We still know very little about Libra and how it will be used, we don't even know if it will be on exchanges or will be a coin like that or not.

Venmo allows you to send other people money as well, so does paypal, will libra be closer to paypal or will it be closer to usdt? After we figure these things out we can find something we can use Libra on. So like I said its all about the context, there are stuff we can trust Libra on because it doesn't require any trusting thing, but there are stuff that requires trusting and we can't trust facebook at all.

no i don't trust any kind of centralised cryptocurrency whether it be facebook Libra coin or any other cryptocurrency coin which is centralised form.