Bitcoin Forum

I wouldn't. I don't think this coin will succeed! What do you think?

If their admin is legitimate on their website why they do not have to go through the kyc to buy their token sales because they know the potential of this project is great and it will be a longterm too great chance of reaching the softcap.

why are you even talking about it? and more importantly why aren't you talking about Paypal because it is exactly like Paypal! a centralized closed source, closed blockchain that is run by a company and you can only interact with it through a website and an account. and the values in your account are similar to US dollar and have 1:1 value. meaning 1 Paypal unit is 1 USD and 1 Facebook unit is also going to be 1 USD.

when you sign up with Paypal you verify your account before they let you convert you fiat to Paypal units and similarly when you sign up with Facebooks' new website you also have to do the exact same thing....

there is no coin, no blockchain, no crypto, no node to run, no exchange to trade,... there is only Paypal with a different name issued by a different company.

I think Facebook already have our personal information, supplying our kyc documents is only to double check it with our Facebook profiles.
The coin will succeed since Facebook is a trusted platform.

Everyone has different thoughts and perceptions, so believing or not believing in KYC on Facebook depends on the analysis of each person, because we believe in something after maximum analysis.

Somebody already posted what I'm about to say on social media, can't remember if it was on twitter or facebook.

FB doesn't have to ask for KYC, why? Because they already know where you live and almost every detail you do in your life.

I am not as thoughtful as you because Facebook has prepared it carefully and the group is busy because of it, and with partners who are already famous. What do you think that the coin will not be successful?

How can you say for sure that the coin Facebook is launching will not succeed? You can only predict and there are not solid proof that will help make your saying become reality. I think the coin the social media giant will get a huge popularity given a majority of the people using Facebook. But only time will tell what will happen.

yes it depends on everyone's perspective because our data is not necessarily safe, but I personally believe because Facebook has conceded data and that's what I think Facebook is getting tighter in securing our data

I'm agree with what you talking about, the day we start agree to using facebook, all of our sensitive information already given to them, even we don't agree with that, I believe that app will auto collect our data in background, so I think KYC is not important right now. As a large online social media and social networking service company in the world, coins will become success , unfortunately I won't support it.

They've already had our vital information and everything we posted on their platform, and it's too early to tell what would be the future of Facebook own coin in Cryptocurrency, they are in a new territory and we all know the community is very particular when it comes to privacy, let's if there is something in their roadmap and whitepaper that will protect our data and privacy.

I do have my active Facebook account before but already deleted it because of this reason, I'm not trusting their application anymore and I think I can live without it. FB Coin might ask for the KYC because they are a centralized coin and that's the risk of FB coin, but it is still depend on how they work for that coin. Fb coin should be more decentralized if they to succeed that's the biggest issues that they will face for sure, they are not good in the public anymore.

Facebook has its own ability to market. They are already associated with this world. I think they will actually do very well in this market.

i dont trust anyone and i wont share my private information with any company, any team or anybody. this market is decentralized and i dont have to share my private documents with third parties. i prefer to buy from exchanges more expensive instead of buying during crowdsale.

Sooner they will ask for the KYC now that they are into cryptocurrency, they did this already though not mandatory to each user but the mobile number are somehow required for users. For some date they are already monitoring us like our interest and what sort of videos we watch and thus there are adds showing to our feeds. They figured it out already they jsut want confirmation but I'm not handing it out to them.

Before facebook coin project appears most of facebook users already give their real name, address, real face and etc including their personal information and there is no difference if facebook want people share these informations to get free tokens or to being an investors because possibly most of people will provide this without thinking but for me personally i wouldn't do that and i had says it many times regarding KYC i'm not willing to give my data to them

If you are using Facebook, they already have enough information on you, KYC is just for legality. I think this coin will be successful just because of how big the company that backs it up. But real crypto people will not patronize this centralized coin.



They will because they are based in USA. It will be a requirement for them to have KYC on their customers.

Changpeng Zhao posted something similar on his twitter acc: https://twitter.com/cz_binance/status/1140914571495927808

I'm not a fan of CZ but he's right on this one.

I have a different think, LIBRA or Facebook coin will hit a success because the popularity of Facebook ia so kuch bigger in this world.
Why we must afraid when it Facebook.

Lol, trusting fb with kyc you mean. If you're on fb they have your details to an extent especially when you link up your mobile number to your account there's nothing else to know which they don't know already.

since the user data leakage event, of course I don't believe in Facebook only at that time I didn't complete my personal data on Facebook even for photos I myself only had fake photos so for me it wasn't a problem.

Depends! but because of some cases that have happened before, maybe I will not be that easy to trust Facebook.

For some users it doesn't matter, they have submitted their KYC details already on exchanges they registered, there is nothing more to hide now. Some of us submitted their KYC on blockchain.com for $25 worth of Stellar. If they already have submitted it, there ain't no reason to sound it to facebook because after all they are already in facebook and if they give more than $25 worth of Libra, why not.  ;D

I think this will be a big success in addition that they dont need to have a bounty program.
This LIBRA of FB will be a good thing to have, if KYC is required then go on.
We are already in FB and having our profile and family members on our friends list then we already had KYC.

In general, Facebook has a large community, and even today there are many ico projects that use intermediaries through this social media network. I think if Facebook immediately launches cryptoqurency, of course there are many crypto users joining their projects. this is a good opportunity while facebook has become an important part of project promotion.

I trust them,
Facebook is a trusted and huge company, then why they want to steal our personal data, for what?
For selling to the darkweb?
Oh come on, they are already rich...

Also, I just ordinary people. Stealing my personal data didn't make them rich...

Have you read this information Facebook says 14m accounts had personal data stolen in recent breach (https://www.theguardian.com/technology/2018/oct/12/facebook-data-breach-personal-information-hackers)?

This is pointed out there is no safe place on the internet even even we can say it's a place that was visited by many people on this world.

With a lot of information related to Facebook Coin, it certainly opens up opportunities for scammers to carry out their actions. All we have to know is, Facebook coins do not open ICO. Because I got information in the telegram channel to be careful about the web ICO scam regarding Facebook coin.

Libra has every chance of success. Everyone knows Facebook and Whatsapp messengers, and they are used by almost every modern person. Using these messengers, people will make internal purchases, which will contribute to the development Libra economics and also these messengers.
And about the kyc procedure, don't worry, they know all about us. ;D

I dont really understand why some people give so much attention on Facebook's new cryptocurrency, lets just give facebook a benefit of a doubt, KYC is not and issue here as we all know, many people are easily give their data in exchange for some airdrop coins, so in that case its not a big deal, I trust facebook thats why i used it so KYC does.

Facebook has a huge marketing and advertising network, and they know how to polish their names. I think the FB's coin is likely to be very successful or at least it will create something different.

Kyc is very necessary for a project to run, so that they believe this is yours, and when we lose an account, our data is saved by the project.

No doubt Facebook is largest social network and has huge community and some bid project like PayPal, MasterCard,Visa-card are the partner with FB so i think it will prove big coin in near future.

Ofcourse , if i trusted companies like blockchain , coinbase and other exchanges , why would i not trust facebook ? If it gets stolen then what ? What they gonna do with my personal details ? Ofcourse can create fake identity , but there is way to prove it was not you instead of some criminal case or other things they gonna do it with your ID , not sure ...

Facebook has stated that it does not sell information from its platform users. But all we know is that FB sells user information to maintain activity and development. Recently the FB has announced a new platform. This platform will collect user information and pay for users providing information. With what I know, any user KYC will be sold to a third party.

Primarily this coin will be successful. Because there's a little amount of people who care about their privacy. Others don't care about this. They will find this coin trusted and convenient for transferring asset. But at some point, after some more 5-10 years, people will be more privacy concerned and this type of coin will be collapsed.

I don't believe that it is trusted...most people know how untrustworthy FB is and use it anyway (guilty). I'm not an active user now but have invested so much into it already, like the picture albums shared over the years - which for me is nostalgic of my youth. I'd have to spend a week downloading all the pictures and recording them to a timeline in the same way.  Probably the best possible move I could and should make to be honest.

As far as a cryptocurrency organized by FB, I do not and will not trust it.

I don’t understand your question a bit, as many bounty hunters go through procedure KYC, even if the project is suspicious or fraudulent. And project FB is trustworthy and if they tell investors to go through procedure KYC, many will willingly go through it.

This doesn’t scare me very much as the KYC procedure is mandatory for any investor about Facebook. I can say that the project is worthy and it is necessary to invest in it since there will be a good growth of their token in the future.

Why did you decide that there will be a rise in the token price? as far as I could understand it will be the stable coin. they cannot afford to launch a volatile coin whose price will change

Why won't it succeed. FB coins might be demanded by all investors since it will be in pair with fb stocks which has been doing well in the previous years.As more people are on fb so will they need the coins for their online transactions on facebook.

It's Facebook therefore there are every chance it'll succeed but It's a stablecoin for satoshi's sake, it won't double your bitcoin neither will it increase the dollar value of the Libracoin you hold. It's just another attempt to kill the hype towards bitcoin as a global currency. They said it operates on zero fee for transactions but guess what, you'll be paying with your privacy as the fees. The only value it'll be bringing to the table is more introducing of the blockchain technology and cryptocurrency to mainstream which is positive for the adoption of the technology.

It will not hurt Bitcoin. But I am not sure about other altcoins. People will see a certainty in Facbeook GlobalCoin and will migrate from not certain altcoins like Ripple. Plus they will receive stability.  8)

On point and why just people cant really able to differentiate or simply compare it out where its too obvious on having this kind of centralized system.
This aint crypto and wont really able to be recognize at the first place and people should be aware that this isnt really something connected into crypto world
yet this is just an another centralized thing that integrated into a centralized company.

Today, almost all new projects require passport data from all investors.  So you don’t have to choose and don’t really want to resent, especially if yours really has good prospects.  But as for Facebook, as well as its cryptocurrency, this question is not completely clear to me, because I do not know what results this cryptocurrency will bring to society.

Investing in the coin facebook releases will not be the same as investing in their stocks, the coin they are going to release it is a stable coin, taking into consideration the size and reputation of facebook we can easily assume the coin is going to succeed but since it is going to be pegged to the dollar the variation in its price should be minimal, so do not make the mistake of comparing the performance of the facebook stock with the coin they will release.

definitely not they will providing there sign in people details to the marketing peoples and it will be directly given in their agreement pages before sign up in there FB pages that sorry I cannot trust it for KYC not been given to other people in Facebook.

The coins might succeed due to popularity of facebook. Nothing else. Libra is going to be a centralized currency. Why would we need another centralized currency system, when we already have paypal and other e-wallet currency? If we will have to provide our details and identification then what is the difference between this system and paypal? The main goal of crypto currency was to create a decentralized platform which will give us financial freedom. We won't be getting any of those features through facebook coin.

I think, like many others, that Facebook has our data for a long time. But I wouldn't want to go through KYC on Facebook - I don't trust them.

Facebook already have most of our personal details unless of course your Facebook profile is fake. All they need now is just the verification of your details. The coin can be successful although it is going to be centralized, because majority of Facebook users are not crypto enthusiasts, who are not interested in centralized coins

This is a funny question tho. First of all, I don't think Fb is making it compulsory for everyone to do kyc, I don't think there is even a kyc at all.
Secondly, you do know that Facebook as all your details already. They have your date of birth, pictures of you, pictures of your family, they have your locations. Facebook as everything they need about you already.

Why do you think that this project will not work? I read that many support this idea. Also, the fact that the developer of the coin is a media personality makes a certain contribution and people have more confidence in it.

When you created a FB account, you already given them your full KYC details unless all you put is fake data. Regarding the success of FB coin, we really don't know what's going to happen.

I mean it has a backup of billions of dollars from the company itself and we all know that FB is one of the top social media we have right now, so there's a big possibility that it can be successful, so let's see.

If this FB shows nothing to be like a scam, then there is no need to worry if they are asking for our KYC. I know how we care for our security and we think that submitting KYC to somebody we don't know personally will be something a treat for us. No its not? Not unless we are participating in fake projects. It is commonly happening by now and we can't blame others to be doubtful in regarding in this matter.

That's true facebook already have our personal information so I think do a kyc for Facebook coin is to sure if we are not scammer, frauders because I think they want too to protect their investor and costumer.

Why would Facebook request for kyc when they already have all my life history? There's really no additional info my kyc details will provide apart from what they already know.

merited ??? ??? ???

okay, sure I dont and I will never use LIBRA for anything. Facebook is extremely compromised with their personal information management.

Zuker seems to consider privacy as a joke, unlike Durov tbtw

We have our own opinion regrading on this matter actually, and as far as I know Facebook knows the information already of their community, isn't right? But the problem is there are many posters who are using other's identity on FB, that's one of the weakest thing I saw or leak from it.
But honestly, I don't have any trust about it in terms of using Libra.

 Of course that is the fact. Just a small identification number and they will dig out your all those information that even you would take a minute to think how the hell do they know it. I think Facebook has not been trustworthy and they have been using the user data for different purposes without the consent of the users in the first place. Anyways, Libra looks promising and let’s see how it goes.

Ohhh, yeah that's him it was a screenshot that was posted so I barely remember on who's that guy. But I remember it after you have posted that was him. Thanks mate.

The original idea and word didn't came from me that's why I gave credit to the person from where I've read it. Facebook won't ask for KYC AFAIK because it's a stable coin and it's not an ICO thus, they really don't need our data.

I would, I have a facebook account with my real information on it, so no reason for me not to trust their crypto project.


I think of the opposite, if small names succeeded in crypto, how much more this big name, they will be hype and people are looking for a good investment where they think will be safe, Facebook has reputation, they would trust on it.

I'm different from your point of view. I believe Libra coin will be a great success in the future because their capitalization is huge and they are planning to create their own ecosystem, much bigger than ETH. They have partnered with other large businesses to create platforms, protocol companies and many other payment areas. They will succeed in the crypto market but I don't trust them when delivering my information to them.

No I would not give Facebook my KYC details because they’ll sell this data ahead, and then say we did this to enhance your experience with the platform. I also think it’ll not succeed because many governments have banned crypto’s, and now they cannot allow Facebook coin and that’ll hit their revenues hard. After Facebook recent scandals they have lost people’s trust, and that’s the very reason why I’ll be urging people to stay away from their coin.

Most of us are already doing it. We have put almost every of our details on the facebook including our phone number, job, locations, what we do, whom we hang up with and how we travel. Facebook already is tracking us 24/7 and we need to give no further information for Facebook to know us. Facebook knows it's customer.

I don't trust Facebook with anything, I never had an account there and I'll never will. It's clear as a day that they will use their coin to collect data on spending habits of their users and use it to target ads on their platforms - this is their endgame, targeting ads to the point when they know about you more then anyone else, because they see everything that you do on the Internet. They will try to lure people with cheap and instead transactions, working in many countries, cashback and other stuff - because in the end users are the product.

Libra has been through the CFTC and SEC organizations. Now we just wait for it to be listed on the market and buy their token. You know, their partners have a lot of big businesses in payment. Visa, Paypal are two big guys in that field and it will help Libra get the best help.
Soon we will see there are many payment methods.

Facebook also has a lot of useful information for you and your information collection is not a bad thing because most of us are normal people and there is no influence related to your life. In fact they have a lot of big partners and these are all partners that people know so don't worry too much about providing information because I think this will be the beginning of the new revolution in crypto

Sound like this guy know FB coin going to destroy his crap system, endless air coins or exchange.

Why should I not trust FB? even I have a facebook account with various information in it, I can set whether the information I want to be privatized or publicized.
So far I have no problem regarding my privacy information while using Facebook, because I manage it well which privacy is not privacy.


Yes, I know what you mean that Facebook takes your data for their business purposes, in my opinion this is not at all harmful, because you use Facebook for free without payment, even if Facebook is a paid platform you must protest. If you don't want ads, you only need to set privacy on your Facebook account, so Facebook will respect your privacy.

I don't trust anyone with your personal data, and Facebook, where daily cracked accounts moreover will not. It's like just sharing them.

How the mood changes. Previously, Facebook was categorically against cryptocurrency, and after the success of Pavel Durov and the TON coins dramatically changed their views. I will not spend even the minimum funds to buy this cryptocurrency.

what exactly is your point of creating this topic?  Are you talking about the Facebook coin kyc or asking if the project will be successful? Please trying be specific on what the point you are trying to make

His title is very different from the context inside which is why its confusing.  But maybe its obvious that most of us here doesn't like submitting KYC documents and that this coin will eventually end up being a failure. I think not though. FAcebook is just too huge that is got tons of partners for it to fail. The project however is very scary since it could control the crypto market in case it becomes too big.

What makes you think that they have the resources billions of dollars and they can hire the top people in any field and they are the number one online, Mark has Midas Touch I'm pretty sure he will see to it that it goes to the place in the market, because they have what it takes.

I think that FB already has personal data of many users and passage of  KYC will be same as on some exchanges or banks. FB is now also a bank and sooner or later many of us will use its services.

i think we should wait for the further information and updates with the developers and the company for what are they going to be. But discussing with this kind of things is more interesting, i think we are too excited.

Facebook has developed a cryptocurrency development so this is a good start for me and data is definitely safe if Facebook does that.

Me too don't believe Facebook. However I think many will still do the kyc to be party of this project as many see this protect will be successful.

many large companies affiliated are pushing for this coin, IMO Libra seems to be successful, but is it necessary to do KYC, I don't think it's necessary. if you want to save just buy it in the exchange market. easy isn't it. isn't KYC only mandatory for large investors. And there has been no official information of the KYC method for the coin owner.

Maybe Facebook coin or libra is not neeeded KYC because everything have know by we created Facebook account, they have know where we are and what have we do every time, just created account and waiting when libra coin is sell to public.

We can't trust anybody for our KYC whether it is a big giant or the worst one project. It is very evident that big companies are very prone to our KYC compromise with others with the selling of our data. So, FB also compromise our data for the world wide as it is the business all over the world.

KYC is the safety measure of any website that has a money involvement and it's fine with me as I know to myself that I'm not disobeying the law and my intention is not to scam people using their platform.

FB already operating for more than 10 years now and knowing its customer's detail is not a big deal anymore because most of us already gave our information and even our selfies to it.

With so much regulators enforcing in this so called cryptocurrency, it might not be as popular as you think. Sure it might be killer transaction protocol but i believe it ain't that easy to just send to anyone around the world, making new global businesses opportunities. Probably like any localized wallet which of course KYC and also keeping your fund in track. Some good use case is definitely facilitate transactions around markets, yet for me its just like a simpler layer of bank transfer. I do agree some weak currency countries can benefit alot from it such as hedging or wired transfer to their homeland members. Just imagining the involvement of authorities shivers me, its such as hassle to deal with these parties.

Facebook have all general details of its members and now they also ask for your verification documents if any wrong doing happen with your account to check your credentials for reopen and it is a normal thing. All sites which involve money transactions require KYC of there clients before doing any transaction.

They already have so much other information about you (basically KYC) now they will have control over your wallet and how you transact with family, friends and others. If anyone cares about privacy people should look in to Elixxir for a payments processing messaging app that obscures metadata

They already know us? So how would they not know how we transact between all our friends and family through their system? It doesn't make sense.

What we need is a payments and social messaging app that is actually privacy preserving. Something like the Elixxir project is what I have been looking forward to because of how the protocol actually obscures metadata instead of collecting it for business purposes.

I think that they will not manage KYC process, but they will pay some another reputable subject to do that. Like Basic ID that are focused in ID verification progress.  :)

I think this is irrelevant. Facebook knows all about you already, don't forget, they hold most of your sensitive information and have access to them even without your permission. The question of whether to give them your kyc documents or not isn't really important. One can only hope that these information aren't used for something tarnishing.

Do you mean the KYC to join in the token sale of a coin by Facebook? Or the KYC for Facebook?
If the team is trusted, why not? So far, we are also obligated to do KYC process when going to become an investor is=n certain ICO or IEO projects. And this is no matter (except the shit scam). If the real team offered by Facebook, I will not be doubtful, moreover, every new coin has a chance to grow and we may not underestimate the coins in advance.

One thing that pushed the developers to require kyc on this matter was for preventing illegal users, that might use these coins for fraud activities. Some potential crimes might associate with it, that could cause sudden crash with this crypto. They're more clever right now compared than before, and unlike those old days manipulators will easily do their bad desires.

You just don't think that Facebook is going to succeed without giving any reason, Facebook is going to succeed, they have everything to make their own coin a success, they are not a start-up company, they already have everything in place  and they have the right kind of people running it, so expect Facebook to blaze their way to the market.

Facebook already has our names and date of birth and even our pictures. These details are needed for KYC, except for the ID card that they don't have. It is like your details are already with them so there is no need hiding and not wanting to do KYC.

You're right, not big deal anymore. Especially now that various bounties require KYC from the participants, and we do it without much thinking, even though it is run by unknown people. So I will not hesitate to do KYC with a platform that has been going on for so long.

Yes it will surely be a huge success given the social status quo Facebook has. Mass adoption will be effective owing to this believers of blockchain technology and cryptocurrency will boom this period.

I think its a good thing for Facebook to join crypto space with Libra and moreover I heard its a stable coin so it make lotta sense to me ,but if KYC is required I'm so against that

For my own,yes i will coz its FB and its trusted apps so if there's any thing or any bad happen it will cost untrusted rate,as for now may of us was using FB,so the witness of it will make more if that let happen.

I must quote CZ Binance on this one:

Facebook Libra coin don't need KYC. They have so much more data on the 2 billion people. Not just name, id, address, phone number. They know your family, friends, real-time/historic location, what you like... They know you more than yourself. And now your wallet too. Best AML!

Link to tweet: https://twitter.com/cz_binance/status/1140914571495927808 (https://twitter.com/cz_binance/status/1140914571495927808)

I must agree with him on this! Why would they need KYC when they collected so many informations about all their users. They have been accused of many things. I will stay away from FB coin, I don`t care about their centralized coin, and I advise all smart people to support decentralization.

I trusted Facebook even with out their token LIBRA.
I trusted them by posting my pictures and my family.
I gave my name and address as on my info with my EMAIL.

I will read there terms and condition policy before sign up there is no assurance to keep your details safe from their insurance and conditions so I don't think it will not trusted about the KYC details will be safe here.

LOL! A company known for selling user data is now to be trusted for KYC? I don't even think they need to require KYC as they already know a lot of their users.

It is no brainer to ask from crypto user to confirm the public profile details with personal documents. They have almost all required information about the Facebook users and the problems start here. What if they don't like the published material on home page? The management can freeze the Libra of that person in this case because of centralization.

Why wouldn't you? First of all you already use facebook. So that means they already know everything about you. The more you share contents on facebook, the more they learn about. You have your profile picture, your name and all those details attached to your facebook account. So, why would you be hesitating to fill the KYC form when in the first place you already provided them with all your personal details.
And Libra is not at all like the crypto currencies we have. It is a centralized financial system like paypal that will be using the blockchain technology.

if they ask for kyc then i have to refuse it, I don't really want to trust them and moreover their scandal about data user leaked makes me worry about my personal information.

There is not going to be any difference between the coin facebook releases and paypal or any form of fiat, so from our perspective such a coin is useless but from the perspective of facebook this is great, they will create their own coin and if they force their customers that any payment for their ads needs to done in their currency then you can bet that it is going to gain huge adoption all over the world, this is just speculation but maybe facebook does not want other institutions to know how much they are earning and creating their own coin could be a way to hide their profits.

Well, the thing is that even if you don't give your information, there are lots of people who are going to do that. But are my going to give out info about myself just to make use of Facebook Libra coin?? That's what I can't really tell. They are already doing that, when you sign up for Facebook they try to make you give every information about yourself and even your location so they can sell it to advertisers. So I don't even know what would be their plans with this one. And another thing about the coin is that it is stable.. I'm a person that prefers volatile coins like Bitcoin so I can make profit from investing in them and trading as well. Since this one is stable, I don't know if I'm going to have interest in it, I had rather continue to make use of my bank and PayPal account cause there is no difference.

lol, one of the funniest question ever asked on forum.
Does Facebook need your KYC? They have more than what you have. Facebook knows everything about you then you know about yourself.
Did you every saw FB asking for KYC?

Generally trust your data to anyone,this is a very bad decision because then you can your data be used for any cases,so I recommend to max your data is to try not to distribute, and protect them.KYC of course then can blagodar your data tracked on the blockchain where you are and what kolicevo money!

So far I believe in this Facebook coin. For KYC, what needs to be doubted? Many people have been waiting for this coin, they will even wait until they are registered at the exchange next year 2020. Don't confuse me with your question. Thanks!

I don't think there is any big deal in submitting KYC to purchase the FB coin. I believe large percentage of the world population have FB account and it has already revealed each and everyone identity even before the FB coin.

I assume you are saying this because of the breach in their system reported some time back. I don't think this should be a basis to think they can't handle such important information by their customers. Fb is a reputable company and would do everything to maintain their standard

It's not that I don't want this coins to succeed but also I don't like this to do KYC if ever I invest in this coin. It's enough that Facebook already has most of our data but if it includes to cryptocurrency then I would say no due to many hackers and the security is not that strong here.

facebooks libra coin is centralized coin and they are making this coin for making money and i think everyone should avoid libra coin but we have already lots of stable coin.

If FB really wants to run a project and launch coins, of course it will work. Because FB is the world's largest company that has been successful. Their stock are very large. Facebook's revenue this year is US $ 15.08 billion. That is, if they want to run a new project it's very easy.

It is always convenient when you agree with there terms so they can do anything they want with your personal info. ; )   Its needed for the countries that require it.

For me yes, i know FB is a reliable business from the start, so i think FB deserves my trust and i know that they are confident that they could do their part as a business partner in a legal sense, and that we already know that Facebook exist for how many years, so i believe that their stablecoin could be more reliable than the other stable coins out there in the market, lets hope for the best for it and that business is all about trust and confidence.

Even if it will succeed, I have nothing to do with it. I still wonder sometimes what it really will be used for, most especially when it comes to block chain technology. It I not going to be decentralized. So submitting my kyc to them might not be safe. I would prefer other coins to it.

If FB thinks you not a real person it asks for an ID and selfie. I already don't agree with that and now they want more info? NO!!
Trusting your data to a company that makes money to sell data is so stupid.


Do you know FB as leaking info a few months/years ago? Shows what you know.

Facebook already has our details the only difference is they don't have real information of some persons.

I think facebook users information has been leaked before. So i don't know if i can trust it anymore or not.
If i know the company project is good, then i won't doubt to send my KYC details to them.
The promising ICO project in cryptocurrency is existing, but only few.

You guys are honestly naive if you think facebook doesn't know who you are. They don't need to do KYC, you already gave them more personal information than what they can get from your ID. They know your friends, families, topics you're interested in, location, and much, much more.

Not really. FB only know about you from the information that you chose to feed. For my part, I have never used my phone number or regular email ID for registering for Facebook. But you may be right in certain aspects. They can get information about location, IPs, friends/family.etc. But that is different from knowing your social security number or having access to the tax returns.

And I was also the first time how the coin this time succeeded or not, but after all, thinking like normal, if the problem is sure, yes, I am still convinced, but the point of thinking is not to expect the results of the coin anymore
 

When information on facebook have been leaked? As long as you didn't give your detailed information on fb, you should't worry your ID will be leaked
Libra coin which in facebook isn't an ICO or something like that.

There is a US intervention and they are going to investigate this issue, I prefer to wait for the outcome of the investigation, I'm sure they will ask for KYC because it is very prevalent among new coins but I doubt if they are going to do crowd sales for the public hopefully they will do an airdrop.

If fb can succeed with all data mining they do on users then surely their cryptocurrency can succeed as well.

If I can trust an exchange, why I would not trust facebook, they are getting into this business being compliant to government regulation and they have a lot to loss in case they mess up, so I would not doubt trusting them, I'll be compliant to KYC 100% in case they demand it.

Your full name and your original email has enough for other people to know who you are. Just simple, they can find you in the social media. Put your name on the search board and match your original email then they will know you. Moreover if you put your data on libra coin it will be easy for them to know who you are. Social media has been cheating us about KYC, most of them need our real identity even about what we like will be known by them.

By just creating an account in FB, you are already entrusting them your KYC. FB knows it all, your internet habit and your personal info. Those data are what they sell to advertisers.

If you already have Facebook and I think 95% of the majority here must have it, then I guess they don't need what we often call KYC anymore. The data registered for Facebook is more than the KYC itself.

TBH I would trust them with my details but that’s because I’ve already got an account on there so I’m not sending anything new.

As it's Facebook, they probably know who you are anyway even before you give them KYC information. But no, I wouldn't trust them and I don't think anyone should trust them. They have a history of abusing trust and abusing private personal data.

I wouldn't have problems with submitting my kyc to the Facebook libra coin project but I really don't see their point of asking for kyc when they've almost all the data's they need in your Facebook account.  Well I sure they would want to follow compliance and let's see how it goes then

I don't think facebook need us to do the KYC for libra, they know everything about us even our small details. They can track us easily, so what will be the use of KYC?

If they are going to ask the KYC for each participant who is willing to invest in their Libra maybe I'll be going to do my own research first of how will libra benefits me. And if I found that is good, why not?

Putting the data breach incident in the past years aside, I will still have the trust to give Facebook my data. Why? because they have been in the industry for quite some time now and just like apple and Microsoft they are continuing and learning from their past mistakes regarding the storage and security of our data.

I think KYC only for your personal data will not be published and Facebook will keep it a secret. for coin problems I think I will hope that the fb coin can be successful in cryptocurrency like other coins.

I wouldn't trust Facebook with anything. Their business model is based on extracting and monetising our personal data. Libra is another step on the path towards FB knowing everything we do. Look at their history of privacy abuses and meddling in curated newsfeeds and influencing government elections.

I remember when Facebook, Google, Amazon etc were regarded as cool new companies that would be different to the evil capitalist corporations that ran the world. That time has long passed, these companies are just as evil as their predecessors. Everything is money. They have no noble aims.

Of course it will succeed, they have not even released the project, their hype is already high, even if people don’t know what the project will be like in future, there are millions of people that are already willing to give it a try because of Facebook’s popularity.

When I saw the headline this morning, I thought Facebook had launched and my heart skipped a little, thinking I would have missed out, and then I learnt it won’t be released till next year. KYC or no KYC, Facebook will succeed, what more KYC details does Facebook need that they don’t already have, they have over a billion users already registered on their platform with their KYC done already, so talking of KYC now is really insignificant.

I do not trust anyone with my personal data and bypass any projects that require to pass the KYC procedure. The coin which decided to launch a Facebook, I initially did not trust. I will not buy it and will not cooperate with them. They most cried about the ban cryptocurrencies on their pages. Now themselves launch. I don't.

I think everyone heard of Facebook data leaks, so they need to do their best to avoid such occasions in the future. I think KYC details will only be available in case of governmental requests.

There is absolutely no Facebook user that will even be worried over Facebook KYC requirement because like you said, they already have the details through their registrations, and this is one of the reason why I believe they will succeed, everyone concerned with the coin, or that hears about the coin, are already members of Facebook community.

The only action that will be required is just for them to participate in the project by buying the coin. The only thing I am still not completely sure of is if the project will be good for investment, if not, this might limit their success a bit, because most crypto users are more interested in the investment aspect of it to the utility part of it.

I trusted someone i dont know or just a developer to take my bounty earnings, he or she can do anything as they like so trusting facebook is not an issue..

As you know almost every centralized exchange and also ICO requirement of KYC is compulsory, and also requirement of FATF ,so i hope FB can be trust-able.

More and more people regularly sign up on facebook and that includes me and as a facebook user they already gained my trust because im a facebook user for over 9 years now  and with that time frame so far i dont see any suspicous things going on my account . facebook is a social platform and they will require your personal details , including phone number , selfie , name , address , etc  . i think that is more than a kyc could do   .

If the government required it then the business don't have anything to refuse the request, it's really tough for someone to provide KYC it's your
personal data where everything can be ruined in just a glimpse of an eye, it's needs to be reassess and wait if there's improvement that FB can
provide protecting their clients.

I try to avoid projects that require KYC, because the project can be blown away without starting, and then personal information will be walking around the Internet.

This is not even a crypto currency and FB team have already confirmed this. You can forget about anonymity by using LIBRA, because if there would be any case Facebook is going to share your personal data.

No I can't trust any one with my KYC details including Facebook ,the reason why I like the Facebook coin is the impact it will create on crypto world, awareness to bitcoin and all altcoins in general ,many new people will now what crypto is at least and many will want to invest to so that's more crypto adoption

As far as I know Facebook have already gotten identity details of its users. I think most of Facebook users have signed up for Facebook by providing their real identity. And I think most of the users do not mind providing their KYC information if the coin is lucrative and they think it will give them a handsome return on their investment.

I think so. FB is the largest social network in the world today but it is very poor. There was a lot of information that was stolen. This is a serious problem FB needs to care about.

i think this one is one of serious and biggest project in this year, due the name of facebook itself, also the project whos already give their support and become partnered with Libra project.

Well I think the moment we sign up and register in facebook, we already give then our personal information, so doing KYC with them is not actually a big deal. For sure, facebook will do everything to preserve your personal information so I think KYC is ok. The real question is, "is it worth it to buy their coins?". Do we really need facebook coin or they are just trying to ride hype.

why the success of FB have anything to do with KYC? it doesn't matter if they succeed or not. They still have your data, if you trust them it's ok. But considering yourself using Facebook, it doesn't matter much though.

Lol FB are greedy bastards. I wouldn't give them any more power than they already have. They will just take advantage. Look at how they change the algorithm so that pages get less exposure forcing you to spend money on ads that are extremely expensive and basically FB print out money. It costs them nothing to sell ad space and its infinite as long as FB has users and since like half the planet or whatever use it you can see the amount of power this will give them. They already drunk with power lets not have them drowning in it.

i fully understand that fb crypto which is libra is really not a crypto. It is like an fb token which only uses blockchain. But it is centralized and i dont think they will create something that they cannot control. Fb coin will success because fb is the number 1 apps in the whole wide world.

It will be stable coin and ofcourse big companies will back it , so we could see marketcap close to bitcoin i guess or even more :) Can u imagine FB Coin will have bigger marketcap than bitcoin ? I don't think it will happen , but there is really high chance it could . Who knows maybe it will not be on Coinmarketcap or exchanges like other cryptos , maybe they will have its own where to trade it

Yes libra could have a bigger market capitalization than bitcoin but it's such an undeniable fact that stablecoin like libra is an entirely different thing compared to bitcoin which is decentralized and the price fluctuates based on market's demand. There's no need to worry about that, have you seen that USDT which is stablecoin aswell is only used as a means of wealth saving.

So am I, i don't see a good development with LIBRA is have a negative issue.
LIBRA is just born and we can't take a big expectiation to be like BNB or ETH.
facebook is big company and people in the world know about that, but not in cryptocurrency.

Trusting Facebook is a possibility because we already trust facebook with our information and important social things. Why would we not trust the facebook coin if that is more secured that the social media platform. There's no doubt that facebook libra developer is doing everything to make the coin as secured as possible.

I don't trust FB with my KYC because although FB is a popular and famous website, I don't trust them and I think they can do whatever they want with our data. Besides that, there is no guarantee for us to see FB can protect the customer data, and we need to be careful to send any document to them. It is better not to use our real document to get verified because when the data was sent to the internet, we don't know what will happen later.

Apparently Facebook wants total control.They even manage to launch an application that will openly collect all the necessary information and as a reward to pay its users.Read this article and maybe Facebook will not get a huge success:https://www.theguardian.com/technology/2019/jun/11/facebook-user-data-app-privacy-study (https://www.theguardian.com/technology/2019/jun/11/facebook-user-data-app-privacy-study)

No way. I don't trust FB with my KYC details because its popular and open. Lots of people visit the website. There's no privacy or confidentiality there and its quite not well. Its bad.

Why not ? Nowadays it is a common thing that you must submit KYC requirements before investing in a project.
If you sure Facebook project in cryptocurrency will be a great succeed, then KYC is not a problem for you to gain great profit in the future.

Facebook coin will succeed it's 100% because already a lot of big investors with big companies are investing in Facebook coin and I think that everyone can trust Facebook their personal data. Just not all people will use their coin, so no need worry about fb coin if you will not use it.

Even though I'm pretty sure that Facebook has been gathering my data ever since the very first day I joined their facebook services but I'm kinda uncomfortable about giving away my data to them. Most of the people will not have a problem to hands out their important data but mine? I'll prevent it from surfacing in the internet.

So there are people claiming that the Libra coin is the same thing as PayPal, if it's really the same thing as PayPal then what's the need to making use of Libra coin?? That wouldn't make any sense then. If you have PayPal then better to continue making use of the PayPal than switching to Libra and making use of the both of them. This is only going to be useful to those people that are living in places where PayPal services are not available, cause Facebook Libra is likely to be available worldwide anywhere crypto is accepted. As for giving out kyc, that's what I'm not sure on whether I'm going to do yet or not. I haven't got the Libra coin so I know nothing about that for now.

Trusting facebook is a bad idea because there have been security breaches in the past and it is likely this is going to continue, besides as we know facebook can ban you from using their services for any reason they deem worthy of it, even if you just have some unpopular political ideas, if you just had a social media account then it does not matter, but if you have money with them then you will lose access to that money as well and personally I do not want to take such a risk.

if you mean success is coin sold out and active trade i think this coin will success but if you mean is can survive in crypt market, i am doubt with it.
LIBRA is good coin i think, but the problem is not facebook branded but what will it can have a potential to grow bigger.
i don't take any movement for now, i just want to see first what can this LIBRA do.

There is huge expectation for this coin Libra. Even here on this forum also there are many people keep on looking for the releasing date of Libra coin. Firstly I will never do KYC verification for investing any cryptocurrencies or tokens.

Since the number of fools are available in high volume this kind of centralised cryptocurrencies will stay longer.

I don't think there will be any problem while doing kyc on giant like fb. We can trust on the security system of fb at least. Moreover, fb is doing kyc so to ensure that libra coin do not pilferage out of libra ecosystem and don't fall in the hands of market manipulation.

with a big name fb, of course I  believe in doing KYC what's more to get a Libra coin for free of course everyone will do it because the quality of the Libra coin is guaranteed and I am sure that the volume of the Libra coin will be high after launching

Libra is backed by big corporation and facebook get more fund from their partner, i don't think if facebook can leak our data without permission from stakeholder, like previous issue about data leaked, and now facebook are trying to keep their image about privacy user

If I understand correctly, then Facebook launches their own stable coin to integrate it into their services. What is the point of buying it at crypto exchange if it is just another one stable coin? We already have tether , usdc , tusd , pax and I don't see a reason to change them for libra. Since I don't use facebook  I absolutely don’t need this coin and I’m not going to go through any verification and share my kyc details

Libra coin being a coin of facebook means that it belongs to a centralized company, however companies like finance are also centralized.
I think libra coin will be good irrespective of its facebook connections

sure I won`t. Facebook is one of the most corrupted corporations I have ever seen.
Zuckerberg loves money more than anyone.
Sure I won`t trust them. Will it be successful? Well, probably yes.

nothing will be safe in this world so I think no one will ready to secure your details properly especially when it comes to social media like Facebook then you will definitely not to trust them that is the fact also.

The merit of the new project by Zuckerberg will give a big plus to the popularization of cryptocurrency. But Liebra is a centralized coin-stablecoin. Facebook has the worst reputation for storing and protecting users' personal data, often violating their interests, let us recall the recent scandal with the discharge of confidential information of 87 million people! And I don't want to trust my personal and financial documents for the new platform from by FB.

Facebook often loses users data so it will be silly to give them your KYC details and use their future stablecoin.

The coin will succeed, no matter what. We all know Facebook is a very successful platform, and they must have planned this through. Their success is not dependent on anything; they will have an audience and people engaged, even those who are not into crypt; we will also see them getting engaged in crypto.
So many people are using Facebook.  Our info is already out and being used by Facebook, so you need to not to worry about that part buddy.

I think it is not actual, now every organization ask KYC, so if you dont want to give your documents just dont use FB, but they could have them at this moment without you))

I believe Facebook wouldn’t necessarily need your kyc details
Facebook has it already

For every Facebook user, Facebook knows you, your friends, families, and even your private profile if you use unto full efficiency

Let's see what happens, maybe it will develop and it will be easy to pay for everyday needs, taxi cafe products, for this I would use.

Personally I wouldn't entrust my privacy to Facebook because of what happened with their privacy breach or accusation from the US government. Although am not a fan of altcoins and wouldn't have interest on the said token.

Because there are partners that will partner with them so its easy for their Libra coin to be used as a payment. A crypto that doesn't have use is going to be dead but as long as they have use, they will stay. I'm not a pro Libra coin but that's the reality and as much as possible I wouldn't want to trust them my details but the reality, each detail that we had is already on their database if you use FB.

Never. FB has proven itself from the bad side. They constantly give the personal information of their users to third parties. So what will change now? Nothing. Therefore, I would recommend everyone to think a few times before giving their personal information to them or anyone else.

I think that in order to create justice, they will make a request to KYC when you want to buy their coin. This is to create trust and commitment when you want to buy large amounts of LIBRA coins. And with the facebook team I believe the payment trend through crypto will quickly spread and be easy to use for almost everyone. It will make this market even bigger.

I think its not necessary to undergo kyc in a simple task. Perhaps there's a lot of accussations that there would be personal information thief happens upon kyc. Some syndicates may use our personal identification, so it is too risky to do kyc if the project is not legit.

Facebook already knows where we live, who we hang out with, what we do for living, how we spend our weekend and nearly everything about our personal life.
If they to reveal they may have our deepest secrets. We all trust facebook in all these than why would providing them with our documents be difficult?

Data mining is how most KYC companies and ICO companies get their information. It is best for people to skip the KYC then purchase the coins on an exchange. It is much safer to do that then to give away any information to a stranger on the Internet.

We are the same opinion mate since the facebook coin we do not know if they were success here in crypto currency we can not give our personal details for our security reason because our kyc would be link they will use it from other scam.

And I do not see anything terrible. Facebook already knows more about you than you think - your tastes, preferences, interests, secret desires, your connections, and much more. So the KYC for them will be just a formality.

Maybe. It would be great if it turned out that way.
I completely agree that a number of other crypto services easily share the personal information of their users with third parties. That's why I pay attention that all of us need to think very well before sharing our personal information with anyone.

first of all, the project will succeed,  they have all it takes to make the project succeed. Also about kyc, I don't they need any more kyc since they have enough users data on their platform or maybe they need just little information to supplement what they already have

I think this coin is going to be highly successful in the near future. But of course, I don't trust Facebook with my KYC details. I don't even have even a Facebook profile. I have closed it 5 years ago. But people share every detail of their life on Facebook. And I am sure they will share their KYC too.

I don't really getting this.. Am I missing something? Does facebook usage requires  submission now? I hope not! But even if that is, though many users may rave and rant at first,  i'm convinced, many won't have any option than to give in.

Of course it will succeed, because it is sponsored by Facebook, and one more thing is that the orientation for their money is completely different from the current crypto.

Nothing wrong about it. Online or offline it increasingly common for banking institutions, credit companies, and insurance agencies to require that their customers provide them with detailed information in order to ensure that they are not involved with corruption, bribery, or money laundering. But some how, I doubt Facebook since it is more exposed to public and there are cases with regards to personal account. Yet, if it will improved the security then why not.

Facebook is currently developing their new cryptocurrency and what OP asking is that do you trust this if you want to invest on their assets? Where actually if you are a facebook user, you already shared your data with facebook such as address, full name etc.

+1

in the first place, Facebook coin is not a cryptocurrency because it failed all the fundamental that described a cryptocurrency. Libra is centralized and will be controlled by Mark the owner of facebook. other financial companies have already joined and should any financial platform failed to join the Libra project might be cut off from international transactions.

Facebook is a huge social network with more than 2 billion users, I think if Libra can go into operation, it will bring huge profits for Facebook.

I am in stark contrast to you, even though the market is growing, I am at a loss because of the wrong decisions that I have made plus too much greed :(

Well i would trust facebook, cause i do think facebook is a great company and they did have some identity issue last year which i think they should learn from their mistake, so yes i do think i would trust facebook and i do think libra have some great potential to be success.

I guess if you are not citizens of developed country KYC wouldn't be an issue in the identity holders' perspective but really different if you are a citizens of developed country.
The privacy issue which has happened in the past shouldn't be taken lightly because if all people were as merciful as you they will repeat the same mistakes.

Yes, but according to technology behind the Facebook Libra coin completely based like Centralised technology like XRP, but surely Libra coin will get more reputation compared to XRP. We have to wait and see until the coin is launched in the market.

FB has repeatedly come across the fact that they sent the data of their users to some FBI and etc. and therefore I think that we should not trust our data to this company.

not just trusting because Facebook on Facebook is the beginning to open an account,
but if there is any, KYC will not affect users because since the beginning KYC on Facebook is still running.

That's a big NO, NO! I never trust those guys. They don't even protect our basic privacy, how could we believe them? I'm sure they are going to sell our KYC data in exchange for billions USD. So, If I give my KYC data to FB, I'd be in high risk of identity theft. I'm not going to do this.

Same here. I am not using fb anymore as I realized that everything you put in there will be forever recorded in their system. There's no turning back. So if you comply with their KYC requirements, it is like they own a big part of your identity. We don't know where they will use our private info. Remember, they already acquired a lot of partnerships. Does it mean, those companies have access to your information also?

NO TE ENTIENDO COMO FUNCIONA ESO

That is on its own already something to worry but they just want your agreement with a selfie and a date with your ID so they can blame you for all that you agreed upon.

KYC does matter for social platform like Facebook? They know much more about you than any 1-2 KYC documents. You post status and pics there with all location you travelled. Even eating habits and what you like or not. So dont worry about privacy with FB because there is no privacy there :P

It's not the question of trust, having a Facebook account is already giving up your KYC already. It's about how and what are they going to do with your data?

We all know that big companies such as Facebook and Google who we thought are very careful with every personal information in their database is not securing it just as we thought they should be. So I don't trust them with my KYC details.

You should consider the number of members on Facebook. Facebook has members in almost all countries and I think Facebook has all of our data, starting with our telephone number or email address. I think Libra coin will attract a lot of investment from many people

I agree, actually we unconsciously give our data to them. Starting from who you are or your parents, also the telephone number for the security of your account. In the internet era, privacy is not new unless we are not connected to the internet

Facebook has a lot of members in various countries but that doesn't mean if almost 100% of them will use libra and remember the blockchain system is too early to be adopted by an ordinary person with zero knowledge about that. it may be less than 10% of the total users that will try to adopt it. I remind you to put a high result as your expectation only.

I'm not a big fan of stable coins and I'm not very much into Facebook but it will become successful because they already that to happen, they have an excellent marketing plan and once they roll up people will become aware of cryptocurrency, it's actually a big boost for all of us whether we support it or not.

It is interesting about Facebook coin since in a period of time everybody trusted their personal information and photos. What they do, where they go and etc. There is that great irony right here. :D

yes ,It is interesting about Facebook coin .Now we just wait for it to be listed on the market and buy their token. heir partners have a lot of big businesses and it will help Libra get the best help.

today, Facebook practically stores half of all personal data of each of its users.  There are names, phone numbers, email address and more, including personal photos.  Having a passport photo no longer matters.

Facebook Libra just created for payment gateway like us using  Paypal and other payment service and used libra as corecoin for running this service that's why libra created as stablecoin not as altcoin usually

I don't think we have anything anymore to hide from Facebook anymore as they already full data of anyone using so I don't think its necessary asking again but if they do, I will cos they already have it

Lol facebook already knows far more than your KYC details about you homie

The real question is why people trusted that much with them in the first place

I think it will succeed in the sense that they got the power, money, and support from other giants. I think their Libra service will be used as like western union, money gram but not sure about the virtual world.


Exactly! I was also about to write the same.
Facebook & Google, they know everything. Who is your present & past girlfriend, when you eat & shit, where you go, what you do online or offline etc.

The fun part is we allowed them to track our privacy, activities. There will be no difference if we do KYC or whatsoever for their LIBRA imo.

Facebook already has more than the basic details needed for KYC verification, It also request for ID Verification in some circumstances, so there is no need to be too conscious, whatever damages Facebook wants to do to its users, it already has enough information to do them.

I have come to realized that the fact that a bounty requires kyc does not guarantee its success or how profitable it will be. Personally, I have not been so lucky when it come to bounties with kyc and that is main reason I have decided not to go for it any longer and besides these information are too personal to just divulge anyhow.

We could believe in this coin but trust is such huge word to give it out. Lets just try our luck with these coins and lets see what it hold for us. Sincerely lets keep our hopes not so high.

Handing over your details to Facebook is like inviting doom to 'self'. The Cambridge analytica case is still very fresh in our memory. There is no telling what can happen 10,15,20 years down the line with that very data/kyc you supplied them. Please Facebook is not to be trusted!!

in my opinion Facebook is a big company that has long been established, so I trust my detailed KYC with Facebook, it's just that I will see the benefits and functions of KYC giving on Facebook, because I will not give my KYC for something that is not important, so if Facebook wants to request KYC but has good feedback for me, then I don't mind giving my KYC to Facebook and I trust all the details of my KYC with Facebook.

If you are a regular facebook user, they already have much more of your data than your KYC - locations, friends, etc. If you trust them with that, is the bigger problem I think.
And adding some personal documents to the list is not making much of a difference.

If I will use Facebook for KYC, I think all of tge details about me will be exposed which might not be good. Also, it is better to use private accounts for KYC. The use of the company's website is vetter than using FB because only the important details will be seen.

Too early to speculate that Fb coin will not succeed. And also, I am not in favor with KYC things even if facebook will gonna require it which I think would not since it is a stable coin, they will reconsider those issues like KYC thing, etc. However, we all had submitted our KYC to facebook and they have already our data stored in their system. Eventhough, I still did not want to trust it.

We in a crypto industry knows that we can not trust any third party organization. So the best move would be KYC on blockchain, like ICON solution or something that can´t be easily abused.

FB already has millions of user data more or less complete. Additional KYC will not be a big problem for FB users if they support FB-coin of course.

   Exactly, they already have so many information`s about everyone, and Facebook already have implemented KYC, there are people who did that
long time ago. I don`t know what will Libra look like when it`s get out, even less I know about distribution of their coin. What ever they do will be
interesting for entire crypto-community that I know. Many people will learn about crypto-currencies and many people will start to use it.
   

I never trusted any company or project with my KYC details in the past not to talk of facebook. But facebook in one way or the other already know 70% of informations about its users, So I really don't see any special thing in there KYC...

Unfortunately that’s true. I know many people trying to see good parts of this coin but somehow i still don’t trust. Maybe because it’s related with FB, it annoys me lol. But my opinion is subjective and maybe this project will succeed. I don’t even have FB now and i’m not gonna do KYC :D

Facebook already knows a lot of information about you: if it also learns about your most sensitive data (financial transactions) it can put them together with everything else. And then you will be filed without a way out. Orwell was an optimist compared to this.

No i would not trust facebook with my KYC because we do not know yet if the facebook will be success here in cryptocurrency, if my important details will be exposed here i think that is bad for me and i think i am getting many problem.

Facebook already has millions of users' information. Therefore, I do not think that KYC will be very important. I'm just wondering if the Libra coin will succeed or not. Libra's future is very uncertain at this stage. But my own opinion is that Libra will succeed.

I don't have trust in kyc. Anything that requires kyc in cryptos is no, no for me. I don't even give my personal information in my Facebook. I don't care if libra is is like a paypal. I trust paypal, but not with libra.

When you use Facebook, it means that you automatically accept your identities leaks, sooner or later (from what Facebook leaked their users' data). With Libra coin, you have to accept KYCs from Facebook policies to be legally and fully use that coin. Temporarily, we don't know that Libra will be accepted to launch by USA's law makers or not. It is a future story, but in case Libra legally accepted by law makers, USA congress, and so on, identities (KYCs) still be the most important reason to consider when you want to use Libra.

This has been already have so much other information about you (KYC) and now they will have control over your wallet and how you transact with family, friends and others. And If anybody have the prospect about privacy, people will look for a payments processing messaging app that obscures payment detail.

Kyc to open an account that was banned or hacked?  if that's me i don't want to do kyc on fb why?  because making a new account, it still works

In my opinion this is way too irrelevant. Facebook company knows all the details about you already, don't forget, they hold most of your sensitive information and have access to them even without your permission. The question of whether to give them your ( KYC ) documents or not isn't really important. One can only hope that these information aren't used for something that can destroy your dignity as a crypto user.

KYC is simply mean know your customer, i believed every KYC made is a personal means of identification is a human or not, Hence, by implementing Facebook personal account into the company we also help for more direct message to the customer.

I do not have any problems with submitting kyc to the Facebook , the project but I really don't see their point of asking for kyc when they've almost all the data's they need in your Facebook account.  I surely that they would want to follow complaint and we will see how do they react to that.

In most cases, they do not have yet your ID (but still, really often when opening a new account on FB you need to verify your ID to use the account)/card/utility bill. With this, your profile can be sold to advertising agencies to give you ads. Or imagine (foil hat mode on), that when gathering your data they can find out and decide that you are drinking too much of alcohol (as you buy alcohol and post photos of you drinking with friends) - and you will not be eligible for health insurance, car insurance available for you would cost 3x more than normally.

I don't think you have anything else to hide as Facebook already have all your personal data but except I'd you are not on Facebook then you can be sceptical about them having access to your data

No i wont, because facebook has several time lost their user database which are hijacked by someone.

There is no need they've already had our information all EVEN our data if you are very active on Facebook chances are you have delivered all your basic information to Facebook in a silver platter, so there is no need to undergo KYC.

Facebook doesn't need your KYC anymore. They already have your complete data, from names, addresses, families, blood types, favorite colors, schools, ideals, they have it all. And I think Libra is one of the drivers towards the digital economy era.

seeing the application of cyc can possibly make security for each participant because it avoids things that are harmful and for the company or facebok can fully control the participants with cyc. so this is a positive thing and I believe

If Facebook coin is able to prove its authenticity or legitimacy after proper research, then I see nothing wrong in giving out one's personal details to them for kyc. This is what I do for other projects too and yet I feel safe with them. Although, I have not done any research on Facebook coin and neither have I done it on their team and if I see it does not worth it, then I will not participate in it, let alone giving out my personal details.

I believe that you won't be able to use this payment method, without processing in KYC process. The have already mentioned that they are going to be very strict with anonymity and will provide all the info if needed.

Though Facebook has many bad records about the privacy breach but still I will do KYC there if I need to! Because I want to taste the Libra coin, so I assume without KYC, it will be not possible to use Libra Coin's feature. I spend my whole day in crypto and facebook because I trust them. Facebook is becoming very strict about fake profiles, but still, Facebook is not a safe place for everyone! They even accept fake KYC documents! 

No, there are a lot of profile in FB are fake profile. KYC with Facebook platform is not trust. The only way I think good for ICO project in KYC is submitting passport, national ID and the selfie photo of yourself, it is secure for the ICO members and investors if they buy coins.

ITS NOT ABOUT WHAT YOU THINKING ITS ABOUT TO THINK WITH LOGIC AND ANLYSIS EVERYTHING... ITS WILL BE HUGE FAILURE

99% people  here uneducated in simple things in life not talking about complex things which they far away from understanding this....but in order to answer you this so you will know what wait us in the future without predicting and be sure we need to dive deep from where bitcoin come...

LETS GO..
bitcoin come from peer to peer file sharing with twist called blockchain.
now why peer to peer file sharing(decentralized tech) was burn because before this there was centrelized tech which mean there was few main servers that hold all the info like movies,mp3,software and computers around the world was downloading from this main servers without be depending on each other, what happen is the governmnets pretty fast locate this servers and shut down them.

then people became more smart

and build decentralized=peer to peer file sharing which mean our private computers are the servers, for example computer A download from computer B and computer B upload something to computer Z and so on...

BitTorrent is a peer-to-peer protocol, which means that the computers in a BitTorrent “swarm” (a group of computers downloading and uploading the same torrent) transfer data between each other without the need for a central server.

now the governmnet need to shut down more then 500 million private computers and its impossible ,,its called decentralized tech.

now bitcoin is peer to peer money and not file sharing compare to libra project which is centerlized tech and decentralized tech always win...

libra is not threat and will be huge failure for sure its stable coin.

stable coin its not investment its exchange nothing more because the price dont grow its like to exchange usd to euro nothing more but even more
libra stable coins its not real crypto stable coin its centralized and control by facebook ...real crypto its mean its peer to peer money and no central control exist and no body can lock your account or other shit

so fucking simple...

decentralized tech mixed with distributed tech will eat the entire system like peer to peer file sharing it cannot go the other way,

99% people  here uneducated in simple things in life not talking about complex things which they far away from understanding this....but in order to answer you this so you will know what wait us in the future without predicting and be sure we need to dive deep from where bitcoin come...

LETS GO..
bitcoin come from peer to peer file sharing with twist called blockchain.
now why peer to peer file sharing(decentralized tech) was burn because before this there was centrelized tech which mean there was few main servers that hold all the info like movies,mp3,software and computers around the world was downloading from this main servers without be depending on each other, what happen is the governmnets pretty fast locate this servers and shut down them.

then people became more smart

and build decentralized=peer to peer file sharing which mean our private computers are the servers, for example computer A download from computer B and computer B upload something to computer Z and so on...

BitTorrent is a peer-to-peer protocol, which means that the computers in a BitTorrent “swarm” (a group of computers downloading and uploading the same torrent) transfer data between each other without the need for a central server.

now the governmnet need to shut down more then 500 million private computers and its impossible ,,its called decentralized tech.

now bitcoin is peer to peer money and not file sharing compare to libra project which is centerlized tech and decentralized tech always win...

libra is not threat and will be huge failure for sure its stable coin.

stable coin its not investment its exchange nothing more because the price dont grow its like to exchange usd to euro nothing more but even more
libra stable coins its not real crypto stable coin its centralized and control by facebook ...real crypto its mean its peer to peer money and no central control exist and no body can lock your account or other shit

so fucking simple...

decentralized tech mixed with distributed tech will eat the entire system like peer to peer file sharing it cannot go the other way,

Nowadays, I don’t see any danger from KOC, all this data, if necessary, can be received by the one who really needs it, but in themselves they present a minimum of danger, the worst thing that can be is that someone will come to your home with weapon.
P.S
My own opinion.

KYC shouldn't be a problem. Large companies like Facebook certainly won't damage their reputation by selling our data and documents. KYC is a process part of following the government regulatory process to avoid money laundering or other criminal activities, so we don't need to worry

There are so many fake accounts on Facebook that I didn't trust at all. The Facebook team should have to take a step where all the fake accounts will be deleted and this will only happen when KYC will be linked.

Why not? Facebook is known legit company for so many years and their Libra coin is already gaining popularity as a future potential investment so if there is nothing to hide with our identities then i will go for KYC as it was not personally required by the Facebook itself but it was per regulation requirement by the government.

Tuff question with easy answers. Absolutely not considering the fact they have deliberately selling personal data to private companies. I simply don't trust them.

That is right as long as you already use their plat for they already know all the information that they need, so why bother with KYC if they can just connect Libra to FB. As such this worries my as FB had a record of information hack and having much to much information about you if very dangerous because it can be used against you or in a shady marketing scheme. So having them manage your digital wallet can be alarming because of such records. If you are wondering what kind of information hack I am talking about just search the Cambridge Analytica data scandal.

Facebook has more than 2 billion members and is spread throughout the world. If 10% of its members use Libra coin to transact between members, this will result in large numbers. With Facebook, many people transact and interact easily and Libra coins make the transaction faster.

No, of course not! I wouldn't trust Facebook with everything. Well, I trust them as a social media. But personal information? Hell, no! Facebook does not have a clean track record in safekeeping personal information. But, in fairness to the Libra project, it is not going to be a Facebook project. I have read several times that the partnership with a good number of ultra rich companies are present. Facebook is just one member.

I would not trust anyone with my documents a lot of deception and nobody can be trusted
I do not even use exchanges that require proof of identity

people scared about facebook isee data leaked, they are unconscious everyday they are share their personal identity, like use bank services, and other activity.

Never liked to show my KYC data to anybody, only in extreme cases I passed KYC, and in other cases I never pass KYC and in cases with FB will not

i don't care about KYC data for facebook, because Facebook already know about our detail information, and everyday we are shared our personal data like we used google and facebook, so i don't really worry about this, because our data are protection by GDPR regulation

FB has the best marketing strategy and will succeed, no matter what. They already have most of your information. It is a centralised coin so they may ask for KYC, but let’s see what happens when it comes out.

It’s simple: if you don’t hold your private keys, you are not a legitimate owner of the wallet. Even more, you are giving your financial details to a company like FB... doesn’t sound like a good idea. You would walk on a very thin ice as you never know if you haven’t violated “Community Standards” and your wallet might be suspended for a while just when you need it the most. I would recommend standing away from it for as long as possible.

In Facebook I passed kyc , and I do not think that this company will disclose your documents to 3 persons , unless of course you are not a terrorist , and are wanted.

i think, many newcomer will appear with facebook. many people dont know about bitcoin but ise facebook, and its good to spread about cryptocurrency. im think their coin will famous for middle and high society.
kyc is safe if it facebook. its better than other ico. facebook is real company, and you know where is it

They obviously wouldn't be requesting for KYC details until they are fully launched so there is no point.. but trusting them with KYC details when they already fully launched? I think I can because Facebook already has all my details anyways.

They would leave us no choice, because Facebook already knows all your data. For sure there will be a KYC process, but in my opinion it is just a formal thing. In any case, I believe I won't use Libra, because I hate the idea of centralised tokens.

I am sure most of peoples going with negative because they have not good reputation already leaked data case and if now they are going to ask KYC then surely my reply is also in negative because I never trust them about this they can do any thing with this all and we could be in trouble.

Lol @ words "trust" and "facebook" in the same sentence..

Doesn't facebook has kyc details of every of it's users already, facebook stored your IP locations, Addresses, School, Work Contacts and Families informations. What other information is left that you'll consider private enough that facebook doesn't have already ?

No, I don't trust the Libra Coin, as those who are behind this project are not credible. By entrusting them with your personal data, you simply give them access to any of your information. And this will be used against you, in order to earn money on you as much as possible.

FB coin can be a successful stable coin. But in question of KYC I don't trust FB. Not a little bit. As everyone knows that how they use the information of their users.

Libra is a very useful coin for ordinary people who are not familiar with the crypto industry. In addition, many institutional investors agreed to support this project.

We learned that we can´t trust any centralized entity.
If they solve the KYC problem with a diffrent blockchain solution, like ICON that is going to create decentralized verification ID system.

The FB project is very interesting, but I don't really want to show my KYC data, I personally support the idea of anonymity in cryptocurrency

Yes because it's an oxymoron to not have your KYC with Facebook. The reason why i said so is because Facebook probably has more information about us (our parents, siblings, friends and associates more than any kyc platform so there's really nothing to hide for Facebook

I don't trust any centralised project, the world of cryptocurrency mean  privacy.

I already submitted my KYC documents to many unknown crypto projects, so, I have no problem with Facebook. Facebook is the world's largest social media network. I believe my KYC will be safe there. It is not a random crypto project that can sell your documents for some penny.

Don't make sure that just keep wait what libra reach as new crypto coins, it's depend on how fb promote this project but very possible lubra become successful, at this moment libra is most controversial project. But I blew libra niot the competitor of bitcoin libra become under the bitcoin leadership as king of crypto and f coin can help also to promote crypto currency using fr social media. Kyc isn't a big deal for me as long as we don't make crime and we use digiltal currency in the good way no need to scared for kyc requirements.

What does it change if it's big or small? KYC is not money and they won't pay you for losing it. FB is known for leaking data and suspected of being a database for FBI, CIA and other government institutions.

Is your data really safe there? If you have nothing to hide it probably is... for now. In a few years you decide to hide from the government and it will be too late.

Unfortunately it is. Many people don't understand at all what cryptocurrencies are, but they are ready to become owners of Libra Coin. This project initially distorts the idea of ​​cryptocurrency. And this is their first, but not the last, lie that everyone who wishes to become the owner of this coin will have to face. In addition to giving them your personal data, they already have a lot of your information (with whom you communicate, where you spend time, what you prefer) from your FB account. Of course, not everyone has an account on the FB, but a lot of people have it anyway, so this is very important.

Honestly, Facebook won't ask KYC. Because they already have information on more than 1 billion Facebook users at the moment. And they will know who is participating in their project with the facebook account available. But I really don't want it to come true

Just lets be real here, most of the exchanges are requiring KYC anyway. Basically, there's nothing wrong for Libra to require KYC just like USDT because that's the norm nowadays. The essence of being anonymous with crypto has vanished since long ago. People who are not willingly to do KYC are usually suspected as money laundered and tax avoiders. Any exchange will have a hard time dealing with that and that's why KYC become the norm.

Yes, I agree with you that most exchanges now require KYC check. But let's not ignore the fact that NOT ALL exchanges require this. The problem lies precisely in the fact that someone who doesn't want to go through the KYC is suspected of being a criminal. But this is not true.
Do you realize the fact that many people in the world live in poverty? Many traders are ordinary people who worked tirelessly in order to be able to invest in cryptocurrencies (which initially imply anonymity). And the fact that they were able to save some money, there is no merit of the state. And now you say that they are obliged to identify themselves in order to pay taxes to the state?
You believe in all this nonsense imposed on you by states in order to take even more money from you.
And projects such as Libra Coin will additionally affect you with the goal of earning money on you.
You have the right to do what you want, but you don't say that the introduction of mandatory KYC is normal. This is abnormal and if you can avoid it, then you need to use it. Otherwise they will use you.

As a concept I don't mind the idea of KYC. I mean, banks require it, and ideally it's used to prevent identity theft.

However in practice I'm wary, as it's not just FB, but any exchange, company or even bank being secure enough with your information.  Now many exchanges require KYC and it's a necessary evil, but it's not like I'm confident in coinbase not being hacked one day and losing a ton of customer's data. As for FB, I don't even trust them with my real name when making a FB page, so I trust them even less than most companies. They don't require a hack to lose your personal data, they'll gladly sell it all on their own.

I don't want to trust anyone in the cryptocurrency at all, so I don't have to go through KYC at all, only where necessary

I don't trust Facebook with my KYC details but I guess Facebook has already known a few personal data of mine. Facebook holds a lot of personal data of its users around the world.

However, if you are referring to Libra, I have to tell you that it is not Facebook. Libra may have been initiated by Facebook but Facebook does not have the sole control over it. As a matter of fact, the Libra Association which overlooks the operation of the Libra Project is composed of many members, of which Facebook is only one. Thus it has also a single vote in decision-making concerns.

As to now, I cannot tell whether it will be successful or not. But if it is successfully launched, it will definitely achieve a good level of success considering its many institutional partners.

On my own opinion I won't trust my KYC on Facebookcoin because all we know that this is a new coin currency so it is on trial and error stage so it's security features are not good as a old coin. And all we know that facebook is the most popular social media all over the world so I think this is their disadvantage because it can be a home of fraud and scams.

No i cant trust facebook with my KYC details,i heard that facebook users data arent safe few months ago and many identity was stolen on facebook,im glad im not using the social network

Facebook upcoming coin is based on centralization and not decentralized and even your facebook user data you shared on their social media platform is not safe as well why would you want to submit your KYC details to such platform?scammers are roaming free on the platform hacking other users account and using the hacked account to scam the account owner's friends and family,sorry i cant give out my KYC details to facebook

in my opinion without even giving KYC, a company as big as Facebook would already have most of our data, and I also believe in Facebook, I would dare to do KYC if that's necessary.

Facebook is a social media platform and like every other online platform, will always require certain data from you. Data breaches have become a regular thing and it does not matter what the website does. So if you have personal sentiments against Facebook, then I will understand. But saying you don't trust facebook with your KYC details is being short-sighted. I personally do not trust any platform with my KYC details

KYC is the most important thing For anyone but Before Fb, a lots of coin and token have asked KYC verification from hunters &  many of them were failed after that. If i compare Them with fb, then undoubtedly it will be best to trust fb with KYC details

We all know the confidentiality issue of FB so i would absolutely not share any of my personal data to them, they are not trust worthy so without trust their project will probably have a short path.

They don't need my documents, Facebook knows my friends, my family members, my school background, my job history almost everything about me. Even my best friend knows less than Facebook AI. They will keep asking my documents for confirming the given details on my Facebook profile when I registered.

i don't trust anyone on the internet to leave them my data (kyc), the only ones who have it are paypal ones,when facebook will ask kyc i will stop using it

You all are really gullible in the event that you think facebook doesn't have a clue your identity. They don't have to do KYC, you previously gave them more close to home data than what they can get from your ID. They know your companions, families, themes you're keen on, area, and a whole lot more.

Its a choice because if you want to get some of there coins you havenot got a choice, you have to do the KYC. This is standard, even with bounty, you nowadays must do the Kyc to get your coins otherwise they wont give them to you.

Me too.I wouldn't.Everything in FB is my personal details even my family and friends knows it why we trust anyone who do KYC in FB there is a possibility that our personal information is being hacked.

As far as I know once you are an FB user, it is already confirmed that they have access to your account. But even I have an account on FB, I never give the right details about me, like where I live for, date of birth, exact address, except for the picture in which I uploaded to my account there, lol ;D But something KYC to FB is way of too much to me I think. I don't know to other users.

I haven't done my research about the Facebook coin, but if ever I will support this project, there is no reason that I will not undergo KYC process because having done KYC is one of the requirements of the government to ensure its legality and to avoid laundering. For me, I've been trusting Facebook ever since I created FB account and uploading different stories and pictures about my personal life.

all have their respective beliefs and analyzers in accordance with the provisions under consideration. if you are not sure and believe in what you are going to do, it's better to stop and don't go on. FB coins are being discussed lately by giving KYC its requirements. As long as personal data is safe and not used incorrectly, I think it doesn't matter. but I myself am less interested in this FB coin.

The government regulating this project gives us an assurance that our data is safe, they are very popular and they could loss billions of dollars if they violated the data privacy of the users, with their previous scandal, the government are keeping an eye on them and I think they are also aware of that.

Before there was a coin though, didn many people have uploaded their own photos on Facebook, instead many people there wanted to be popular and famous, of course KYC would not be a problem for them. but for those of us who are used to being anonymous in crypto. of course will be very careful and many considerations to join

Facebook keeps all the user information. They know all the user information.So they don't need KYC for a new one. Besides, I don't agree with KYC on Facebook.

If Libra project is launched, it will be strictly regulated. Not like Facebook, that is only a website.
Libra will be something like a bank and without strict regulations it can´t work, like other banks.

We have been trusting low quality sites and projects with our KYC details, I wonder why we are now so conscious about fb KYC. Fb to me is more legitimate when compared to some shitty projects. But again it is a matter of choice.

Indeed it is a matter of choice whether to trust your kyc details or not. As long the project is legitimate it is good to go. Yes fb is more legit than other scam in crypto world. Many people already using fb and trust this apps so I’m okay with it.

More recently, Facebook was fined a huge amount for leaking the personal data of users, which they indicate during registration and which are not published in the public domain.
I deleted my Facebook account a long time ago. I do not want my data to be abducted by intruders.

We already did without their LIBRA project.
We gave them our name and location on our profile.
We let FB have are family tree by putting some relationship status with our relatives.
I can let them my information as long as they are not asking for IDENTIFICATION CARD and some government issue papers./

Facebook has confirmed its willingness to pay five billion dollars in penalties due to the leak of confidential information of its users and this indicates the unreliability of their storage on this resource.
As for the appearance of the Libra coin, it is unlikely that this will happen after such a pronounced position of the G-7 states regarding this stable coin. Yes, and recently there was a statement from Facebook that this project may not be implemented.

No. they should be called KYC coin instead of Libra

There are billions of people using Facebook, and most of them have provided personal information. KYC is just verifying the match. I believe in facebook money, because it will promote strongly to many people who know the crypto market. And it will be a strong currency competing with ETH because it has a large community.

Trusting FB for KYC?, FB users already did, without knowing it, they already share their personal information, even their daily life activities, even to their family activities.

Imagine, FB knows your Bday, your work schedule, the company you work, your friends, your family, your next schedule vacation leave.

KYC is nothing compared to what FB already knows about every subscriber/s.

With this scenario that happened to Binance: Binance Customer Data Has Leaked: What We Know and What We Don’t (https://www.coindesk.com/binance-kyc-issue)
I'm starting to lose confidence of passing on KYC with any website unless I've proven that platform is trustworthy and I'm willing to pass on KYC with them.

That's right! Why feel something new to the thing you already did long time ago? Lol. But kidding aside, let's just hope that our basic info will be maintained in good condition though there are already past incidents of data leaks. I wish I can stop using FB but I can't, I don't know why. It is probably because it became part of my daily routine already and it is somehow addicting to scroll, like and share. Hence, we can relate ourselves into slaves — modern slaves (very sad but true).  

Actually, I'm getting paranoid these past few days because my girlfriend and I can't open her account even though she only open it on her cellphone. Fortunately, we able to recover it with help of an IT guy.

I agree, if we remember the cambridge scandal, Facebook already knows our profile. When we register, we must provide our telephone number so that our account is secure. I don't think it's a problem to do KYC on Facebook because Facebook already recognizes that their application knows our profile

Your points are right though, but where are we safe? In crypto? not anymore. We are doing bounties and they are collecting our KYC documents too. So, they can leak or sell our data too. Though I am not doing illegal things and the government already has my data. So, I am not worried about Facebook data leaking!

That is why Facebook does not cause any self-confidence. Moreover, its stable coin Libra will not inspire confidence, unless of course it is ever released, which I very deeply doubt. It is categorically impossible to concentrate in private hands such a large amount of confidential information. Moreover, to add to the existing information about users in the social network also information about them of the financial plan.