Would you trust FB with your KYC details?

[oseikuf44]

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.

[1714846596]

1714846596

[CryptopreneurBrainboss]

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.

[Convery]

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. 

[Lanatsa]

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.

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.

[Tigerw]

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.

[South Park]

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.

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.

[akram143]

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

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.

[adzino]

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.

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.

[baeva2]

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.

[Dacosta Osei-Tutu]

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

[Raymondavid47]

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.

[BigBrother]

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.

[Jating]

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

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.

[Kasabus]

No i think no need for that then we have here a lot of cryptocurrency without KYC so better to use that and this is create like that

It so hard to give your personal information for our own security so find without KYC here in crypto like different wallets,trading site,gambling site and more like we have many here so better to use that than with KYC

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.

[jonsky05]

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.

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.

[Emilyp]

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.

[halpi]

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

[pinkpanther03]

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

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.

[logicgate]

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.

 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.

[jossiel]

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.

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.

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.

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.

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.