Facebook shitty coin. Facebook selling information of their customers

[AjithBtc]

That is not good thing about facebook and facebook coin. Because of being too much popular there is also too much absurdity that can affect even our personal information. And I think if that habit will continue facebookcoin will not stand long in crypto industry because all we know that the number one thing that the investors will look before investing is security.

It’s not everyone that will use Facebook coin that will be investors, believe me,Facebook would not even be creating an investment coin except someone that sees the opportunity to use it as investment.

Majority of Facebook coin holder would be using it as utility coin, and these people would not see any reason to care about their confidentiality that much, if they do, people would not be opening an account with them on a daily basis. To make their project successful, they really don’t need everyone on their platform to be a part of it, the few people they need are already there on their database since they have the largest database of people for now.

Agreed, they were the one with the largest database. As of now there focus won't be to create an investment coin, major focus will be on creating a utility token. From my understanding it will be similar to the kin token that has got limited access whereas globalcoin from Facebook will be having a large usecase as more marketing of different services were happening through Facebook than any other social networking platforms.

[Thanasis]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

This is happening everywhere and most users don't care about their data being transferred.The solution can be don't give any information about us to any online sites even if they claims that they are not going to share these details with anyone.

[labilaab]

Everyone sell our data, it's nothing new. Telecommunication company sell our data, social media sell our data, google sell our data. Each and every organization to whom our data is available is selling to another party. Their coin will be centralized and probably another shit stable coin.

You are right. Our information isnt surely safe from whatever site that is.

[barbara44]

Personally, I will never use their coin, because anonymity and security for me in the first place, I should have cryptocurrency private keys in order, but I think Facebook will not hand out keys to users.

They have their users already and without you, I am sure their project will be just fine, they don’t need the whole population in the cryptocurrency market to get their coin for the coin to be known.  It is not everyone you see on their social platform that has contributed to their financial growth.

The financial growth has been solid because of business people that have relied so much on the platform to get them sales they need on monthly basis, so these wonderful business men and women you see on Facebook are the ones that will patronize Facebook for their coin, most especially, in the advertisement section.

[thefaucetrunner]

no doubt for me, facebook just the second biggest ads for business purposes. its not social media even if they create GlobalCoin which can be transferred among WhatsApp users i think its lack of privacy and security. its not anonymous anymore, and they can sell our privacy throufh their big data collected from our facebook activity, i just realize when i start scrolling my homepage, there are many ads related to what i look for, how can they steal our privacy and sell it to other. GlobalCoin will not become threat for cryptocurrencies, cryptocurrency are way too special.

[jackflag]

I never doubted that Facebook was capable of that.  No wonder he will gather information from everyone on the planet.  I don't think he should be trusted.

[creeps]

Facebook is against everything that crypto stands for yet they are creating their own coin.

Probably it will be a utility and big cooperations can steal users data with those coins.

Data privacy ruins the reputation of Facebook, they’ve made a big mistake before and that’s why the trust on their future coin is still questionable. It will be a utility coin, a loyalty coin that can be used within their platform, and also with other companies and because of this I’m confident that Globalcoin will have a hard time to reacht the top 3 position in terms of market capital.   

[madfox11]

There previously were much info that Facebook confidentiality = zero

I’m not surprised, I think social media don’t bear a proper responsibility for the safety of personal data, so more and more social network users provide false information in their accounts, nothing will change.

[adaseb]

We don't know if this will actually take place since it's a stable coin linked to the US dollar and there are going to be massive regulations to overcome.

I think this is geared to people who buy and sell on the marketplace. Because it lets people sell something for Facebook coin and then they can use that coin to buy something else.

It will be useful because it eliminates cash and also eliminates the high fees of credit cards. However I am oretry sure that KYC will be a must and most probably won't have issues giving FB their private info since they pretty much are an open book with all the photos people post everyday of their private lives.

[binhvo1505]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

Those are my questions over the past few days. I think that paying with electronic money on facebook really has a lot of risks and big obstacles. They really hold a lot of personal information of facebook users and they can do the same for accounts in e-wallets.
We really should not send money and trust the facebook coin unless they give a satisfactory explanation of security.

[ManoPrimitiva]

Isn't it funny facebook lift the ICO ban in ther ads system right about the time they were announcing their shitty coin?

At least something good will come out of this, more people will get familiar with cryptocurrencies and loose the fear to them... after that it won't take long until they know and understand the difference and probably change to use Bitcoin, Ether, you name it.

At least one can only hope.

[mirawantirinjana]

do you realize when you submit a KYC document to receive an invaluable airdrops token, then your data can be sold?
Moreover, the platform is as big as Facebook, they can easily sell or abuse data from their customers.

[CryptoIyke]

They would have bought a lot of minds if they never banned cryptocurrency adverts on their site, now who takes you serious selling what you have previously banned, Facebook should concentrate on their social media services avoid crypto, We already okay with the various crypto platforms providing such services like Steemit, reddit and more

[smyslov]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

It's still in the planning stage we'll see after they launch their coins we will analyze and give opinions on what they are going to offer tot he table, but right now we can only speculate on what they can give us because of our experiences using their platform.

[unusualfacts30]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

I'm not sure how that would be any different from what we see today. It seems data sharing is a new norm for businesses these days. People who will pay through crypto for customers' data are the same people who are paying through other means today. It could be a hit or a miss given their reputation is not what it used to be in the past.

[bitgolden]

Everyone sell our data, it's nothing new. Telecommunication company sell our data, social media sell our data, google sell our data. Each and every organization to whom our data is available is selling to another party. Their coin will be centralized and probably another shit stable coin.

You are right. Our information isnt surely safe from whatever site that is.

LOL, then you are not ready to make use of the internet ten, prior to the invention of this decentralized system, there is absolutely no site that is a genuine one wont request your data, even universities that are online requires your data, financial institutions requires your data, and many more sites that we run, so tell me which site exactly or any platform that doesn’t request for data.

We have been claiming that Facebook steals data, ever since they have been stealing this data, who has been affected negatively? We just like to assume some things that are not real. Facebook application was created for a purpose and that purpose requires one submitting data in which the data they even request for are minor ones that are not implicating.

[befriendmywater]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

That is why Libra is facing a lot of problems and is being condemned by many people and does not want to be founded.
because of Mark's lack of credibility, opening a billing business will only raise suspicion. Therefore, I also do not want libra coin to be established, they will steal all our personal accounts.

[beerlover]

Facebook literally made their money by selling data, they never actually sold the "information" but they sold the data, for example they were selling stuff like "people who like computer games" to companies who want to advertise their games, they never actually give information regarding you directly, nobody went ahead and did stuff like "give me info on person x" or something, no they just happen to advertise to what you like.

This literally has absolutely nothing to do with their currency unless they start to sell data on what people spend their money on, if that happens then they could literally make so much money that you wouldn't believe it, think about the power of having data points on what people spend their money on, facebook could be even larger than what it is today.

[zabir.brutov]

They are creating a transnational payment system without borders, and are following principles for which blockchain is standing, but with one little exception and it is privacy. Such coins are not welcomed among community, but almost everybody will be using Libra and it does not matter how bad he would complain now.

[jazmuzika217]

I think this is one the big problem in centralized system. All we know that confedentiality is very important here in crypto world. All private information should be stay private and the information that user and consumer will need to know will need get by consumer and user for free and selling of information is not good idea.