Can we trust Libra after Facebook kept fail us when it comes to privacy &data?

[Bitcoinqubit]

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

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

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

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

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

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

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

very interesting

[AGD]

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

[Harlot]

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

[LGame]

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

[caravel]

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

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

[Jeremycoin]

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

[CryptoAlphaStar]

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

[pinoy.bolanon]

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

[tsaroz]

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

[bittraffic]

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

[sri.bima]

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

[el kaka22]

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

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

[globalking]

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