🔵 Facebook Agrees to Pay $5 BILLION, BUT will they ever stop??

[dkbit98]

Department of Justice
Facebook Agrees to Pay $5 Billion and Implement Robust New Protections of User Information in Settlement of Data-Privacy Claims
Facebook will Pay the Largest Civil Penalty in a Data-Privacy Case in United States History

https://is.gd/source_article

After reading this news, one question came in to my mind:
Will they ever stop doing what they are doing?

They where spying on us all the time,
selling our data and information, to anyone who wanted to buy them,
they violated our privacy and they did that multiple times.

They now have to pay biggest penalty ever paid in history of US.
The settlement also requires fundamental changes at Facebook
and removal of Mark Zuckerberg as consumer privacy decision maker.

Facebook also needs to adapt new privacy program and respect user privacy.
This also apply for  WhatsApp and Instagram, that are owned by Facebook.





What will Facebook do next?

I think they will make some changes,
but give more energy for their new monster baby called Libra coin.

They know that with Libra they will do all this again, and even more.
They will follow 100% of all users transactions and actions,
and in the same time they will make a deal with government.
Imagine the implications.... Imagine total centralisation.

Don't forget that Libra will be based in Europe, Switzerland.

On July 30th we have new senate hearing regarding regulating all digital currencies and blockchain
https://www.banking.senate.gov/hearings/examining-regulatory-frameworks-for-digital-currencies-and-blockchain


Summary

I don't know how good for cpypto space is potential creation of Libra coin,
as people will forever associate it with previous Facebook actions.
But if Facebook have billions to pay ... I say let them pay.

Meanwhile we can use this time to introduce more people with BITCOIN,
one real decentralised crypto who can beat them, and give power back to the people.

[1715123684]

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[1715123684]

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[BitHodler]

Banks have never stopped with their shady activities after having paid billions in fines, so it's safe to assume that Facebook won't be stopping either. Governments don't mind them because it means billions of extra income.

If governments really cared they would find a way to get banks to not make the same mistake again, but why would they? It's much more profitable to let these corporations make the same mistake over and over again.

The only way for Facebook to stop is to have people stop using them on a worldwide scale, but that's not going to happen either. We have to accept that this is the way the system works. It's pointless to wait for improvements.

[dkbit98]

Banks have never stopped with their shady activities after having paid billions in fines, so it's safe to assume that Facebook won't be stopping either. Governments don't mind them because it means billions of extra income.

If governments really cared they would find a way to get banks to not make the same mistake again, but why would they? It's much more profitable to let these corporations make the same mistake over and over again.

The only way for Facebook to stop is to have people stop using them on a worldwide scale, but that's not going to happen either. We have to accept that this is the way the system works. It's pointless to wait for improvements.

Great observation.
I am thinking similar like you.
Best way to get quick income and make circus entertainment for the masses.

[Harlot]

With them having a recent case loss I think all eyes are on them especially the ones who are handling the topic of Libra. I'm pretty sure with their own kind of cryptocurrency the government wouldn't allow them to add an extra set of feet in by putting a lot of privacy violation with their Libra. They might even go as far on changing the whole Facebook interface on what users can show and what they cannot show, before even touching the subject on how Libra will be implemented in their website.

[iv4n]

Banks have never stopped with their shady activities after having paid billions in fines, so it's safe to assume that Facebook won't be stopping either. Governments don't mind them because it means billions of extra income.

If governments really cared they would find a way to get banks to not make the same mistake again, but why would they? It's much more profitable to let these corporations make the same mistake over and over again.

The only way for Facebook to stop is to have people stop using them on a worldwide scale, but that's not going to happen either. We have to accept that this is the way the system works. It's pointless to wait for improvements.

In some ways we are forced to use banks. Some companies tell you in which bank you can receive salaries, at least in my country its like that. But who force people to use facebook? How many people will pay attention on what facebook is doing with their data? More then 2 billion people have account there! I bet that more than 90% from all of them doesn`t even know what facebook is doing and for penalties they are paying. Question is how many people is aware of what banks are doing too.
People need to educate themselves, I can`t think off any other conclusion. People need to learn about what they are using, and to try to understand how system works. When majority becomes more educated we can change the world.

[creeps]

They agreed to pay to settle this case down but the government wont stop on that, as we hear from the recent hearing about their Libra coin, the government really preventing them from making their own coin. I know Facebook will not also stop from here, they will still go and create their coin and by that time it can create more money for them. The government will regulate more cryptocurrency because of Libra coin, i hope its for the good of the people and not for their own interest.

[dkbit98]

Banks have never stopped with their shady activities after having paid billions in fines, so it's safe to assume that Facebook won't be stopping either. Governments don't mind them because it means billions of extra income.

If governments really cared they would find a way to get banks to not make the same mistake again, but why would they? It's much more profitable to let these corporations make the same mistake over and over again.

The only way for Facebook to stop is to have people stop using them on a worldwide scale, but that's not going to happen either. We have to accept that this is the way the system works. It's pointless to wait for improvements.

In some ways we are forced to use banks. Some companies tell you in which bank you can receive salaries, at least in my country its like that. But who force people to use facebook? How many people will pay attention on what facebook is doing with their data? More then 2 billion people have account there! I bet that more than 90% from all of them doesn`t even know what facebook is doing and for penalties they are paying. Question is how many people is aware of what banks are doing too.
People need to educate themselves, I can`t think off any other conclusion. People need to learn about what they are using, and to try to understand how system works. When majority becomes more educated we can change the world.

What is even more shocking is that most of the people nowadays don't even care
if someone uses their data and information and sells it...
Imagine that same thing for them using crypto  

After listening senate hearing...I think that all government want is SWITCH OFF button to any person they want.
And Facebook will provide them that 'function' I am 100% sure.
They cant have that with cash money, gold or Bitcoin.

[The Sceptical Chymist]

Holy crap, that's an enormous fine.  Do I think Facebook will change their practices as a result of this?  Probably, unless their plan is to figure out a way around it, and who knows what's in their heads.

They may not have a choice if they want to avoid further consequences, and I doubt any company wants can take multiple billion-dollar hits like this and still survive.  The thing I wonder is how much this is going to affect their profits, since I'm sure part of their business plan called for selling their members' information. 

In any case, screw Facebook.  This is why I stopped using them in 2010, and I'm glad I never looked back.  They're worse than Google.

[dkbit98]

Holy crap, that's an enormous fine.  Do I think Facebook will change their practices as a result of this?  Probably, unless their plan is to figure out a way around it, and who knows what's in their heads.

They may not have a choice if they want to avoid further consequences, and I doubt any company wants can take multiple billion-dollar hits like this and still survive.  The thing I wonder is how much this is going to affect their profits, since I'm sure part of their business plan called for selling their members' information.  

In any case, screw Facebook.  This is why I stopped using them in 2010, and I'm glad I never looked back.  They're worse than Google.

I am afraid we cant shake them that easy

What we can do is not use real profiles and info for FB,
change search engine, minimize usage, and support some decentralized alternatives

[Kemarit]

It will be a continuous cat-and-mouse game here. So I doubt that Facebook will just stop just because the government caught them, they are willing to pay that huge fine isn't it? And I don't think that it will have a dent of them financially, Mark Z, has around $80 billion, even if he pays out of his pocket, he can recover that amount, unfortunately it is the shareholders that's going to fork that billions.

What worries me is that people still patronized Facebook, as how Libra will affect the crypto space, we will have to see, they started at the wrong foot already, so we can only speculate what the net effect will be once its rolled out next year.

[hatshepsut93]

They aren't being fined for violating privacy of billions, they are fined for getting hacked and letting hackers get access to that data. They will improve their security, but they will continue to harvest data, there's simply no other way Facebook can exist - this is how they make money, they don't have alternative means of making money, and without money they can't support their enormous infrastructure. Governments don't like Facebook because they screwed up with their data breaches which caused a lot of trouble - they don't mind the data harvesting itself, especially if Facebook cooperates with them.

[bryant.coleman]

They aren't being fined for violating privacy of billions, they are fined for getting hacked and letting hackers get access to that data. They will improve their security, but they will continue to harvest data, there's simply no other way Facebook can exist - this is how they make money, they don't have alternative means of making money, and without money they can't support their enormous infrastructure. Governments don't like Facebook because they screwed up with their data breaches which caused a lot of trouble - they don't mind the data harvesting itself, especially if Facebook cooperates with them.

Hmm... this is exactly why I stopped using Facebook five years back. Even if you guys are using FB, make sure that your primary email and phone number are not updated in the profile. In countries such as China and India, Facebook has built good relationship with the authorities, by providing data to identify anyone who makes frequent posts against the politicians. In the US, they are shamelessly meddling in politics by openly supporting the ultra-left wing of the Democrat party (Kamala Harris, Elizabeth Warren.etc).

[leavolnhals]

I think they will face a lot of difficulties when paying fines to the government. The value of the stock will decline and the libra project will be greatly affected.
I know the US government is controlling to prevent the expansion of facebook, but is the penalty too big?
If Facebook really fails in this project, the US GDP will be greatly affected.
facebook is really losing its advantage and I doubt that Libra will be deployed anymore.

[jrrsparkles]

If they stop leaking our priacy then who will fund them to run their company called facebook?

This is their business so they will never stop,they might get penalty and will ask for more price next time.

Who cared about their privacy then stop using them.

[dkbit98]

I think blockchain technology is great for creating one alternative social media network,
that will enable users to have privacy and freedom of speech.

I would like to see new DexBook in the future
Nobody can be banned from there, except if majority of users votes for it maybe

Maybe its just my dream and facebook is to strong ...maybe not

[dkbit98]

Monex Group, the Japanese financial services company that owns the Coincheck crypto exchange, has applied to join Facebook’s Libra project.

source:
https://www.coindesk.com/coincheck-owner-monex-group-moves-to-join-facebook-libra?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic%20

[Upgrade00]

The reality is, lots of people around the world do not really care what happens with their data, and bear the idea that it doesn't directly affect them if personal informations are marketed.
If only there were more discussions on the threat and how it can be used to control the masses, then the public could force the government to pay more attention to this.

[aioc]

I think blockchain technology is great for creating one alternative social media network,
that will enable users to have privacy and freedom of speech.

I would like to see new DexBook in the future
Nobody can be banned from there, except if majority of users votes for it maybe

Maybe its just my dream and facebook is to strong ...maybe not

I'd love to have an idea where the whole decentralized community will compete with Facebook, it's possible we just need capable developers to set up one social networking site that will respect our data, it's a gigantic task but we are growing as a Bitcoin and decentralized believers.

[joniboini]

I'd love to have an idea where the whole decentralized community will compete with Facebook, it's possible we just need capable developers to set up one social networking site that will respect our data, it's a gigantic task but we are growing as a Bitcoin and decentralized believers.

I don't think we'll compete with Facebook, as privacy concerned users would probably never use them. I'd honestly be surprised to see a privacy concerned user who joins such communities are also active on Facebook or other social media. Unless somehow they use a fake account.

On another side, Facebook dominance is really big for mainstream users. And I doubt it will change soon.

[fenixosup]

Nothing will stop facebook from tracking users in my opinion

[freedomgo]

Even though that's a big amount but that's a small penalty for facebook, next time they'll face a big violation like that, or even bigger, I doubt if they can still be given a chance to pay a monetary penalty.

We don't have to complain if they are spying on us, we have submitted freely our information and we know the risk we are taking.
They just face the consequence of their wrong action and we should be glad we have the government to protect us.

[rdluffy]

It's a shame that Libra is being compared to BTC
They are totally different, with different purposes

I refuse to use this coin, I don't agree with the way facebook use our data, so I do not use any service of this company, but this is only my opinion, we are free to choose what we want

[dkbit98]

I'd love to have an idea where the whole decentralized community will compete with Facebook, it's possible we just need capable developers to set up one social networking site that will respect our data, it's a gigantic task but we are growing as a Bitcoin and decentralized believers.

I don't think we'll compete with Facebook, as privacy concerned users would probably never use them. I'd honestly be surprised to see a privacy concerned user who joins such communities are also active on Facebook or other social media. Unless somehow they use a fake account.

On another side, Facebook dominance is really big for mainstream users. And I doubt it will change soon.

Anything is possible!
- Not so long ago we could not imagine to talk with anyone in the world for free, now we have Viber, Skype, Telegram and similar apps.
- We could not imagine Bitcoin could challenge US dollar, but we see what is happening now

What we need to do is to make something BETTER than centralized Facebook,
then people will slowly switch to.
We don't even need to take all facebook part off the cake to make it a success.

[Slow death]

I think they will make some changes,
but give more energy for their new monster baby called Libra coin.

They know that with Libra they will do all this again, and even more.
They will follow 100% of all users transactions and actions,
and in the same time they will make a deal with government.
Imagine the implications.... Imagine total centralisation.

This is something that governments do too, the problem here is not because governments are concerned about people, governments are concerned because they have facebook accounts... governments are concerned that they are not spying but someone else spying them. If facebook made an exclusive deal with the US government, then I doubt the US government would criticize them, but as facebook shows no side, it sells the data to anyone who pays them, so many countries criticize. The pound will be accepted in the future by all these countries that today show concern because the pound will do the same thing that facebook has done to this day. nothing will change, things will only get worse for ordinary people

Don't forget that Libra will be based in Europe, Switzerland.

CNBC: Facebook Has Not Contacted Swiss Regulators On Libra’s Registration

Facebook and Swiss Regulators: A Continuing Saga

[dkbit98]

I think they will make some changes,
but give more energy for their new monster baby called Libra coin.

They know that with Libra they will do all this again, and even more.
They will follow 100% of all users transactions and actions,
and in the same time they will make a deal with government.
Imagine the implications.... Imagine total centralisation.

This is something that governments do too, the problem here is not because governments are concerned about people, governments are concerned because they have facebook accounts... governments are concerned that they are not spying but someone else spying them. If facebook made an exclusive deal with the US government, then I doubt the US government would criticize them, but as facebook shows no side, it sells the data to anyone who pays them, so many countries criticize. The pound will be accepted in the future by all these countries that today show concern because the pound will do the same thing that facebook has done to this day. nothing will change, things will only get worse for ordinary people

Don't forget that Libra will be based in Europe, Switzerland.

CNBC: Facebook Has Not Contacted Swiss Regulators On Libra’s Registration

Facebook and Swiss Regulators: A Continuing Saga

I agree with you,
and people running the show are very selfish

[Leyss]

If Facebook agreed to pay five billion dollars of penalties due to leakage of confidential information about its users, then it is worth it. This social networking giant has a significantly higher profit. But what will happen if the US Congress adopts a prepared bill against the emergence of the Libra coin is hard to say. It seems to me that Facebook will not risk releasing it, because the sanctions will be much bigger and regular. We can rather see a similar coin in China, since Huawei already declares such readiness. China will ignore the opinion of the US government.

[dkbit98]

If Facebook agreed to pay five billion dollars of penalties due to leakage of confidential information about its users, then it is worth it. This social networking giant has a significantly higher profit. But what will happen if the US Congress adopts a prepared bill against the emergence of the Libra coin is hard to say. It seems to me that Facebook will not risk releasing it, because the sanctions will be much bigger and regular. We can rather see a similar coin in China, since Huawei already declares such readiness. China will ignore the opinion of the US government.

Yeah, it is possible.
I created a topic regarding 'Huawei coin'  with more info:
https://bitcointalk.org/index.php?topic=5169023.0

Question is.
What will USA say after this info from Huawei?
If they dont allow Libra to start with too much regulation,
they risk that China become the first country with centralized state crypto coin in the world...
Tricky...

[CryptoBry]

As long as Facebook can pay any amount of penalty imposed on it, then there would be no problem actually. The government got what it wanted -- money and changes -- and so everybody can be happy. On Libra, I think we should not be viewing it as a threat to Bitcoin or cryptocurrency in general. Now, if people don't like it then they should not patronize Libra in any way possible...simple as that let's allow the market to decide since this is a free world and we are not yet under the jurisdiction of China -- the country that will allow its China-made companies to spy on anything anywhere as long as they are working for the interest of the country.

[Janation]

I don't know why we are still in the process of "introducing Bitcoin to people" since I know we already pass that.

Bitcoin is already known to people that are always on the internet, in the social media, most of the people in the platform know what Bitcoin is, it is just that most of them don't care about it. Libra might be popular because it was under Facebook but I don't think even with billions and billions of users of their platform, will use Libra since most of them do not care and just want to be connected with their loved ones.

[Ozero]

If Facebook agreed to pay five billion dollars of penalties due to leakage of confidential information about its users, then it is worth it. This social networking giant has a significantly higher profit. But what will happen if the US Congress adopts a prepared bill against the emergence of the Libra coin is hard to say. It seems to me that Facebook will not risk releasing it, because the sanctions will be much bigger and regular. We can rather see a similar coin in China, since Huawei already declares such readiness. China will ignore the opinion of the US government.

Yeah, it is possible.
I created a topic regarding 'Huawei coin'  with more info:
https://bitcointalk.org/index.php?topic=5169023.0

Question is.
What will USA say after this info from Huawei?
If they dont allow Libra to start with too much regulation,
they risk that China become the first country with centralized state crypto coin in the world...
Tricky...

Yes, the situation is getting worse. Huawei is still leading a trade war with the US government and they will not care about the US government. Therefore, in China may well create their own coin, similar to Libra. If it is even basically the Chinese market first, it will be huge all the same.

[tonyvo2017]

 I think they will be willing to pay the penalty if the US government no longer intervenes in any business activities.
Because the crypto market is a new kind of potential market.
fast payment services are limited and this is a great opportunity for Libra.
$ 5 billion will not be a problem because they can earn more after a few years of operation with unrestricted conditions.

[el kaka22]

5 billion is actually a good amount of money for facebook as well. I know they are super rich and they can afford to pay it but just because they can afford to pay it doesn't mean that they have plenty more of where that comes from, that is a good chunk of money that facebook will remember forever. Hence I think this penalty probably out of all penalties in the world seems like the best one that could actually achieve what they have done so far. Facebook will definitely at least slow down their data breach problems and will stop collecting too much data just in case they get hacked again plus they will try their best to not get the same amount of penalty later on.

In USA if you commit a crime and get a penalty and then do it again the penalty doubles or even goes higher, hence it means if they fail to do this then they will get punished with 10 billion or more and they surely do not want it.

[justdimin]

What are you talking about with 5 billion dollars being "nothing" to facebook.

Do you realize that they literally made 15 billion dollars as REVENUE in this year, it is not nothing, it is literally one third of their WHOLE revenue let alone profits, they probably had a lot of costs and expenses as well which means they might be running on negative this year just because of this and even if not they are not gonna make as much money as they would normally do.

Stop with "everything is gonna be so bad!!" type of doomsday mentality, law sometimes works and in this instance it did help us instead of helping the big company, that is a good thing, we want governments and lawmakers to be on our side and not the big companies side, they are usually always siding with the corporations, for the first time they have sided with us, celebrate that instead of finding dirt in it.

[jostorres]

So how does that penalty affect those that they have already compromised their privacy, the billions of dollars being paid, will it be distributed to Facebook users? All these are just ways of government to raise unnecessary money and this is still part of the scam we are talking about, what has the fine actually done now? It will still never stop them, they will only device another strategy that will cover the loop holes that was opened that made government know about their mismanagement of people’s data.

I guess this was still part of the plans too why they have created Facebook Libra coin, probably it is going to be a way to get back to government, because if government does not take care, Facebook coin might really disrupt their financial system, and I guess this is why trump wants to quickly discourage cryptocurrency generally by attacking bitcoin first.

[dkbit98]

What are you talking about with 5 billion dollars being "nothing" to facebook.

Do you realize that they literally made 15 billion dollars as REVENUE in this year, it is not nothing, it is literally one third of their WHOLE revenue let alone profits, they probably had a lot of costs and expenses as well which means they might be running on negative this year just because of this and even if not they are not gonna make as much money as they would normally do.

Stop with "everything is gonna be so bad!!" type of doomsday mentality, law sometimes works and in this instance it did help us instead of helping the big company, that is a good thing, we want governments and lawmakers to be on our side and not the big companies side, they are usually always siding with the corporations, for the first time they have sided with us, celebrate that instead of finding dirt in it.

Looks like that, BUT are you sure there are no hidden motives there?
or should we trust them even if they lied to us same as Facebook.
They are constantly taking money from huge taxes all the time.

I am not judging anyone but just saying that there are no good and bad guys in this game.

[Bitum]

Only a year ago, the governments spoke quite differently, and today makes that a big headache for them. Very interesting metamorphoses?

[dothebeats]

Facebook won't stop, that's for certain. It's like they are just paying the government for permission in continuing what they're doing and in turn, the government allows them, or should I say, turns a blind eye on their nefarious activities and pretend that they are prosecuting Facebook if someone caught Facebook doing something shady. This cycle never cease to exist, and it started with banks followed with multinational, multi-billion corporations, which is Facebook now among others. As long as there is some $$$ feeding the mouths of those in the government, they would allow such things to flourish, even under their watch.

[TastyChillySauce00]

They will not and that is for certain. With Libra they are trying to gain the rule over some percent of world's money. They are trying to make so much money by creating digital money and not to mention that they already have the datas from the people all over the world to do that.
If Facebook could pay $5 Billion with ease despite the huge amount, that doesn't stop them from doing what they have done all over again to gain that much amount of money. I'm pretty sure that if they can pay such amount they can make it again eventually.

[Ucy]

Wonder why facebookcoin will be based in Switzerland? Could it be due to the mild financial regulation in the country?
Well, a new privacy policy by Facebook will only transfer the power to spy on billions of people from Mark Zuckerberg to governments, so that the spying is done by government alone. I still prefer zero spying though. Don't spy on me unless I break the law

[maxreish]

Facebook has so many issues regarding user's data. And $5 billion dollar is just a tiny money for them, the importance here is that they have to secure our data and not to sell them off. Comply with the privacy of user's data but how can facebook reassure us about that? Especially that they'll gonna integrate or use Libra coin now.

[eaLiTy]

They know that with Libra they will do all this again, and even more.
They will follow 100% of all users transactions and actions,
and in the same time they will make a deal with government.
Imagine the implications.... Imagine total centralisation.

Hope you are missing the main difference in privacy of user data and privacy in financial transaction, you cannot misuse the user data and sell to others without the permission of the users and if you are doing that you will attract big fines, but if they collect financial details that will be in accordance with the financial rules and regulations to monitor every transactions, basically we all know Libra is a centralized coin and the implication is that people will still use those coins if they find it interesting  .

[fiulpro]

I have only one problem with this.
Why aren't we actually getting the money ?
All the users ?
At least they should pay each one of us 100$ if they will.
There are 2.41 billion users on Facebook and they would have already earned more than enough from selling our personal preferences to the companies for advet and all.
It doesn't matter , they are paying the government , where as we are the ones who are suffering from it.
Also at the same time we are the ones who tick the user agreement without reading it.

[abeecrypto]

Wow! that is loads of money. Well, It is what they deserve. They will never stop. Data is the most lucrative asset we have now in the world. With the right analysis, data could be used to influence and inform decisions that will bring high profitability. The funny truth is that many tech companies, be it computer, phones and so on, spy on their users. It is what helps them tailor their services or services of others to the right consumers.

With great data comes great power

There is no better time for Blockchain to manifest its potentials.

[kryptqnick]

5 billion dollars is a lot (though not really a lot for Facebook), but it pisses me off who's going to get them. Great, so facebook collects data from regular users and then this data is used for special purposes by other companies. Who are the victims? Regular users. Who receives the compensation? The Federal Trade Commission, a governmental organization. Why so? Because they are the authority responsible for monitoring customer protection. And people who got manipulated and whose data was used for profit? They get nothing.
Anyway, Facebook has big inner problems that will not disappear after a $5 billion fine. And the top newsletters of the US have already published some articles on this matter.

[JohnBitCo]

Facebook won't stop, that's for certain. It's like they are just paying the government for permission in continuing what they're doing and in turn, the government allows them, or should I say, turns a blind eye on their nefarious activities and pretend that they are prosecuting Facebook if someone caught Facebook doing something shady. This cycle never cease to exist, and it started with banks followed with multinational, multi-billion corporations, which is Facebook now among others. As long as there is some $$$ feeding the mouths of those in the government, they would allow such things to flourish, even under their watch.

Facebook will never stop collecting the user's personal data.  They have been doing this from the start and will continue to do so.  And the amount of money which they are bound to Pay is very less as the amount of data and the importance of data which they hold.

[bitbunnny]

5 billion dollars is a lot (though not really a lot for Facebook), but it pisses me off who's going to get them. Great, so facebook collects data from regular users and then this data is used for special purposes by other companies. Who are the victims? Regular users. Who receives the compensation? The Federal Trade Commission, a governmental organization. Why so? Because they are the authority responsible for monitoring customer protection. And people who got manipulated and whose data was used for profit? They get nothing.
Anyway, Facebook has big inner problems that will not disappear after a $5 billion fine. And the top newsletters of the US have already published some articles on this matter.

Yes, 5 billion dollars is huge amount for money but obviously not huge enough for Facebook. I think that still have the false feeling that they are too big and too significant on the market. But that is not entirely true and competition is sligthly taking over so Facebook should start to care more about the users in order to survive. I guess they will realise that soon enough.

[BitHodler]

But that is not entirely true and competition is sligthly taking over so Facebook should start to care more about the users in order to survive. I guess they will realise that soon enough.

Companies care about their users only at the very beginning when they need to on-board as many of them as possible, where later on when they got them in their pocket they no longer seem to care.

I don't think that Facebook will have to worry about losing users with the level of growth they experience. It's the US government that's worrying about their size and even considers splitting Facebook up, which would be insane.

I don't know how I feel about a split up, but at least it would offer an opportunity to the smaller players in the social media field to gain more ground while they right now don't stand a chance.

Remember that those who do seem to stand a chance to grow, have been and will be taken over by Facebook. It's a powerhouse that doesn't seem to slow down unless regulators start to dig into Facebook.

[dkbit98]

We should not forget Instagram, that is also owned by Facebook.

It had huge spike in growth with younger generation, and I bet they use same 'tactics' for collecting all kind of information

[ene1980]

Facebook will never stop collecting the user's personal data.  They have been doing this from the start and will continue to do so.  And the amount of money which they are bound to Pay is very less as the amount of data and the importance of data which they hold.

If people are careless enough to upload their sensitive information in public sites which you think are giving you free service, then you are the biggest fool as there is nothing free in this world, they might be fined for their actions for not taking care of sensitive information of their users and from now on these companies will be careful with these, if not they will attract more fines and regulations from the authorities.

[Distinctin]

Facebook won't stop, that's for certain. It's like they are just paying the government for permission in continuing what they're doing and in turn, the government allows them, or should I say, turns a blind eye on their nefarious activities and pretend that they are prosecuting Facebook if someone caught Facebook doing something shady. This cycle never cease to exist, and it started with banks followed with multinational, multi-billion corporations, which is Facebook now among others. As long as there is some $$$ feeding the mouths of those in the government, they would allow such things to flourish, even under their watch.

Facebook will never stop collecting the user's personal data.  They have been doing this from the start and will continue to do so.  And the amount of money which they are bound to Pay is very less as the amount of data and the importance of data which they hold.

You are correct, the penalty is just peanuts for them and I believe they are not fully remitting all their collections or income, so their net worth is not really the real one, it's lower than their real net worth.

The government were able to make on facebook violation but they should not impose the same light penalty in the event they will repeat their violation again, that would be very corrupt of the government if they still do the same, they have to serve the people, not the facebook.

[Indamuck]

Zuckerberg could cover this himself with less than 10 percent of his net worth.  This will do nothing to stop Facebook and everything you do on their platform will be monitored and stored on their databases.  I would suggest leaving facebook and all of their other owned platforms. 

[dkbit98]

Zuckerberg could cover this himself with less than 10 percent of his net worth.  This will do nothing to stop Facebook and everything you do on their platform will be monitored and stored on their databases.  I would suggest leaving facebook and all of their other owned platforms. 

I agree with you.
Facebook is money making machine and Zuckerberg is driving it where he wants.
But leaving Facebook is probably not possible for most of the people,
without some better alternative social media platform they can choose and use.

[1Referee]

I don't know how I feel about a split up, but at least it would offer an opportunity to the smaller players in the social media field to gain more ground while they right now don't stand a chance.

I wonder how effective a so called split-up is, and what it actually means. If a split-up means FB selling certain departments to their competitors, it might work as intended, but if it's just a split-up as in the different departments to operate individually but indirectly still operate under the umbrella of FB, what will change?

FB was allowed to make multiple large acquisitions without a problem even though it was more than obvious that FB's position would grow further. I think there won't be a split-up for the sole reason of how easy it is to fine them for power abuse and whatnot. With FB's business model it's just a matter of time before they drop the soap and the FTC enters from behind.

[danherbias07]

Scary isnt it?

Here is why we should not give any deep information with this kind of social media feature.
Or better, they should erase all those kind of fields during sign up and also on editing information once you are in application.

It cannot be prevented with fools trying to be cool with their names but there is still a way if the app itself wants their customers to be protected.

[dkbit98]

Scary isnt it?

Here is why we should not give any deep information with this kind of social media feature.
Or better, they should erase all those kind of fields during sign up and also on editing information once you are in application.

It cannot be prevented with fools trying to be cool with their names but there is still a way if the app itself wants their customers to be protected.

I totally agree with you.
I would like to see decentralized blockchain social media alternatives,
where nobody can be banned or simply switched off, and where we can keep our privacy without central party.

I have been testing this, it is still in beta, and needs improvements.
https://bittubers.com/

I am not sure it can replace Facebook machine for now...
but they don't have Billions either

[robelneo]

It's not how much they fine, they can pay that amount several times because they are still making a huge income, it goes how bad their reputation is if  a company is fine, then they have a violation and if they keep paying and doing this, they can get their license  revoked, so no they cannot keep paying for violation.

We always have a first and second offense and a third offense could get their license or franchise to operate.

[bitgolden]

It's a shame that Libra is being compared to BTC
They are totally different, with different purposes

I refuse to use this coin, I don't agree with the way facebook use our data, so I do not use any service of this company, but this is only my opinion, we are free to choose what we want

I think by now, everyone already knows that the technology of Facebook is absolutely different from that of Bitcoin, which Facebook itself has stated clearly. I think they are in no completion with bitcoin, how is it that a centralized coin can compete with a decentralized coin.

The reason why many people like us accepted cryptocurrency of bitcoin whole heartedly was not only because of the financial increase we are getting from it, but because of the payment freedom that came through it too  and only a decentralized system can actually do that. Libra coins just like a stable coin, and many not really be that useful to many people, except people that are making payment on their system for a particular product on their platform. Anything aside this is seriously going to make the coin irrelevance to people.

[shield132]

As I see, everytime what I search in google, doesn't matter with my account or just open private tab and search in it, I always get adverts on facebook which are related to my searches on google.
They agree to pay 5 Bililion for their mistakes, why? Because they benefited a lot more and they want to benefit even more, they want to keep all of their mistakes in silence and pay for it but in future, they'll get 100x more back. That's sad but truth, we don't have to send private information on facebook, they analyze all of our data, very quickly and easily.

[fullhdpixel]

the penalty is just peanuts for them and I believe they are not fully remitting all their collections or income, so their net worth is not really the real one, it's lower than their real net worth.

The government were able to make on facebook violation but they should not impose the same light penalty in the event they will repeat their violation again, that would be very corrupt of the government if they still do the same, they have to serve the people, not the facebook.

You call that peanut; let them continue to pay that peanut every year and then see if they will not go bankruptcy. Pay attention to what the op said, he never quoted the amount in million, we are talking off billions of dollars here my friend and you call that peanut? That is not peanut man.

I am sure this is one of the reason why they are also planning to use blockchain technology for their project too, and Facebook is very wise, they are making everything concerning them decentralized but they are not making the coin itself decentralized, which means, they are just doing this to really get back at the government and government better tackle them right now, before their Libra coin takes over globally and even get recognized more than the United State usd.

[Nhebu]

They agreed to pay to settle this case down but the government wont stop on that, as we hear from the recent hearing about their Libra coin, the government really preventing them from making their own coin. I know Facebook will not also stop from here, they will still go and create their coin and by that time it can create more money for them. The government will regulate more cryptocurrency because of Libra coin, i hope its for the good of the people and not for their own interest.

I thought Facebook is supported by the government since it is popular worldwide. Ironically speaking, the Facebook that really admire by the people and well-known by the world, will be prevented to establish their own coin. Yet, the bitcoin that is not known who invented, only for the name Satoshi is adapting worldwide.

[freedomgo]

They agreed to pay to settle this case down but the government wont stop on that, as we hear from the recent hearing about their Libra coin, the government really preventing them from making their own coin. I know Facebook will not also stop from here, they will still go and create their coin and by that time it can create more money for them. The government will regulate more cryptocurrency because of Libra coin, i hope its for the good of the people and not for their own interest.

I thought Facebook is supported by the government since it is popular worldwide. Ironically speaking, the Facebook that really admire by the people and well-known by the world, will be prevented to establish their own coin. Yet, the bitcoin that is not known who invented, only for the name Satoshi is adapting worldwide.

Government does not solely support, they also regulated. Thing is, facebook is launching a Libra coin that will be like money in the internet and there's a lot of risk in the world when this is not regulated since it can be use for illegal activities, money laundering and etc.

[barbara44]

Government does not solely support, they also regulated. Thing is, facebook is launching a Libra coin that will be like money in the internet and there's a lot of risk in the world when this is not regulated since it can be use for illegal activities, money laundering and etc.

I think government just does not want to support Facebook coin because I don’t fully see what is threatening about the Libra coin to them.

Yes, cryptocurrency generally makes it impossible for the government to be able to monitor the transaction that goes on within it, I mean the decentralized cryptocurrencies not all those counterfeits that comes in form of centralized coin, but in one of the abstract of Facebook Libra coin, I read where they wrote that the system is going to run on blockchain, but would not be having the anonymous part of it, which means people’s transaction can be monitored, and this should be what government want, even if we are going to run cryptocurrency, they want something that is still going to be within their view so that they can still have full control.

[Vispilio]

I would even go so far as to suggest that Facebook's rise and current data accumulation activities were preconceived at its inception or in its
initial stages when it was gaining a foothold in US campuses, by an unseen group who very likely has a hidden agenda to monitor and control the activities of a significant segment of the population...

I was doing a Master's at an Ivy League institution at the time, and never had I seen any technology, website or product pushed and promoted as hard as facebook throughout my education...

University counselors, mentors, student council and the like were suggesting registering to Facebook as the coolest "new black" thing to do almost on a daily basis, and this official promotion is part of the reason it overtook Myspace so decisively, which had struck me as very strange even at that time...

[Spaffin]

Do not be naive.  No one will erase all the information that users provide during registration or in other cases.  History shows that all information flows into a specific database, which is stored under 10 locks and is very valuable.  The fact is that because of all this nonsense, I am already beginning to doubt the good intentions of Facebook and oppose the creation of the Libra project.  Remember, recently Facebook itself opposed cryptocurrency.

[dkbit98]

Do not be naive.  No one will erase all the information that users provide during registration or in other cases.  History shows that all information flows into a specific database, which is stored under 10 locks and is very valuable.  The fact is that because of all this nonsense, I am already beginning to doubt the good intentions of Facebook and oppose the creation of the Libra project.  Remember, recently Facebook itself opposed cryptocurrency.

I agree. Everything is collected and stored.
Every comment, every conversation and photo, location with IP.
Facebook is having 'fun' with our data and earning profit while doing so.

[Argoo]

Do not be naive.  No one will erase all the information that users provide during registration or in other cases.  History shows that all information flows into a specific database, which is stored under 10 locks and is very valuable.  The fact is that because of all this nonsense, I am already beginning to doubt the good intentions of Facebook and oppose the creation of the Libra project.  Remember, recently Facebook itself opposed cryptocurrency.

Yes, more recently, Facebook opposed the spread of cryptocurrency in the world, including banning its advertising on its resources. Now they have changed their minds because they felt a profit and that’s what I don’t like about Facebook. However, I do not think that the Libra coin will ever appear at all. To concentrate in private hands such a large amount of confidential information about a significant part of the world's population is very dangerous. Therefore, the G-7 countries very sharply and categorically spoke out against the appearance of such a coin, which led to the fact that Facebook itself recently announced that this project might not be realized.
I think that such a coin should be created by states within the framework of the G-7 or G-20. Such a coin will appear sooner or later, technological progress cannot be stopped.

[Maestro75]

With them having a recent case loss I think all eyes are on them especially the ones who are handling the topic of Libra. I'm pretty sure with their own kind of cryptocurrency the government wouldn't allow them to add an extra set of feet in by putting a lot of privacy violation with their Libra. They might even go as far on changing the whole Facebook interface on what users can show and what they cannot show, before even touching the subject on how Libra will be implemented in their website.

I see this as a plan to delay the launch of Facebook Libra. It is politics to make people loose faith in Facebook and thereafter be suspicious of whatever products it rolls out. The banks are scared of Libra that they want to destroy it through this kind of distraction. I do not know why governments are scared of Libra, especially America.

[fenixosup]

Facebook will never stop track people unfortunately

[yvesp110]

Facebook will never stop track people unfortunately

The current trend in the industry is the quest for data. You have the data, you have the market. There is a famous saying in economics that if data is the new oil, China is the new Saudi Arabia. Coming to the main point, giants like Facebook will still be using the data to make money and capture the world despite the allegations and court facing. Google is another thing to read about.

[dkbit98]

Mike Crapo to Lobby for Libra...
https://cointelegraph.com/news/facebook-hires-former-aide-to-us-sen-mike-crapo-to-lobby-for-libra

[Kemarit]

With them having a recent case loss I think all eyes are on them especially the ones who are handling the topic of Libra. I'm pretty sure with their own kind of cryptocurrency the government wouldn't allow them to add an extra set of feet in by putting a lot of privacy violation with their Libra. They might even go as far on changing the whole Facebook interface on what users can show and what they cannot show, before even touching the subject on how Libra will be implemented in their website.

I see this as a plan to delay the launch of Facebook Libra. It is politics to make people loose faith in Facebook and thereafter be suspicious of whatever products it rolls out. The banks are scared of Libra that they want to destroy it through this kind of distraction. I do not know why governments are scared of Libra, especially America.

I don't think that banks are really afraid of Facebook's Libra. What the US lawmakers are afraid of is the huge power that Facebook as a company can wield globally. They are afraid that a company as powerful as Facebook will continue to grow and that is what they wanted to stop at this point.

So yeah there could be some political background here, US governments doesn't want Facebook to dominate and make more money and the potential effect it can bring globally.

[fullhdpixel]

I see this as a plan to delay the launch of Facebook Libra. It is politics to make people loose faith in Facebook and thereafter be suspicious of whatever products it rolls out. The banks are scared of Libra that they want to destroy it through this kind of distraction. I do not know why governments are scared of Libra, especially America.

Facebook too is not completely transparent about their own operation too, and I think they already lost their trust government and also they have lost their the trust that many other individuals have in them through the recent case of privacy that the government had against them and coupled with the fact that Facebook likes to use money to buy everything over.

I just read a news today too that they would be changing instagram and whatsaap name, even though the changes would be partial, but I really don’t see any need for it right now other than them having some hidden agendas about their operations, and to me, I also see their Libra coin as a very big threat to the government and banks. I think they need to fear Libra coin than they feared bitcoin.

[slocker]

Facebook will never stop track people unfortunately

The current trend in the industry is the quest for data. You have the data, you have the market. There is a famous saying in economics that if data is the new oil, China is the new Saudi Arabia. Coming to the main point, giants like Facebook will still be using the data to make money and capture the world despite the allegations and court facing. Google is another thing to read about.

You got point. Today's market is based on amount of data you can gather and have for yourself. You mentioned google but Microsoft purchased GitHub. So all big "players" have data and can do anything with market and manipulate as they see fit. For them 5 billion is nothing more then some average person lunch money.

[audaciousbeing]

It will not stop because there is no law or regulation that is fully air tight because at the time when its being formulated, the drafters and the deciders can only think to the extent of how far their mind can carry them to block all necessary loopholes at the time and because times and season are changing someone is looking at the loopholes to perpetuate another crime. And the funny thing is that, at the time organisations are considering the cause of action, they know the law but when they then put everything into perspective and the cost of the likely fine if the regulator find out they have err on the side of law, its still profitable and businesses afterall thrives on risk. Which is why it wont stop...

[Vishnu.Reang]

It is not just breaching the privacy of the users and profiting from it. Facebook is behaving more like a political entity rather than a social media channel nowadays. They have taken an extreme-left political view, and constantly delete posts and groups having a right-wing tilt. Back in 2016, they tried to sway the POTUS elections in favor of Hillary (and failed miserably in it). If they continue to involve in politics, then the users should start boycotting their services.

[sana54210]

Libra has nothing to do with this privacy breaking law thing at all. I mean it could totally be exactly the same and maybe facebook didn't get the message and punishment was too low and they will keep doing whatever they are doing with Libra as well but for now it looks like they haven't even started so it would be weird to judge them for something they haven't done yet.

Maybe they learned their lesson and will have strict rules for privacy and they will just do much better with Libra? I am not saying that will happen and I am not defending Facebook here, I am just trying to say since nothing has happened yet on Libra front of the deal maybe we should just wait and see, maybe it will be like you guys say or maybe it will be nothing like that, only time will allow us to see how it works.

[Averim]

What about all the people whose personal data was sold without their approval? I believe Mark deserves more severe punishment like prison, perhaps this way it will be an example for all others who intend to sell personal data. In the same time there should be some responses regarding buyers of the data, should they make sure the legality of the data they buy??

[fortunecrypto]

I don't think they will ever stop, Facebook needs data so they can work out and create data that they can offer to their advertisers because they offer targetted leads, they need location, preferences age and other vital information, without it, they have no way create targeted leads without it.

[yvesp110]

It is not just breaching the privacy of the users and profiting from it. Facebook is behaving more like a political entity rather than a social media channel nowadays. They have taken an extreme-left political view, and constantly delete posts and groups having a right-wing tilt. Back in 2016, they tried to sway the POTUS elections in favor of Hillary (and failed miserably in it). If they continue to involve in politics, then the users should start boycotting their services.

You spotted it very well. They have started behaving very politically lately and though there are talks about freedom of expression, your comments get deleted within minutes depriving you of your basic right. However, the company has a great influence around the world and the quest these days is for data which is the best thing that has ever happened to Facebook. Facebook can make use of the data in numerous ways.

[shoreno]

they say that the libra coin wont be released anymore .

if they are paying that huge amount who will recieve it ? the governments ? but what about us ? what about thier users  . they are the ones that lost or have been exposed their data    .

but if ever they start paying , your still asking if when will they stop ?  they should have stop imediately because if not then they will have to pay more  .

[peter0425]

they say that the libra coin wont be released anymore .

if they are paying that huge amount who will recieve it ? the governments ? but what about us ? what about thier users  . they are the ones that lost or have been exposed their data    .

but if ever they start paying , your still asking if when will they stop ?  they should have stop imediately because if not then they will have to pay more  .

Well you have a good argument, but you need to understand that everything is business, they agreed to pay because they know that they can recover it. Did they go bankrupt? No. So I don't think that Facebook or any major company for that matter will stop just simply because they have to pay big fines to their government. As for our data, it's very risky, just like what happen to the last supposedly Binance hack (again).

[dkbit98]

I don't trust Facebook and anything Facebook creates...
they only care for they own profit and nothing else like helping people.

https://www.eff.org/deeplinks/2019/08/victory-lawsuit-may-proceed-against-facebooks-biometric-surveillance-0
 

[SquallLeonhart]

I don't think they will ever stop, Facebook needs data so they can work out and create data that they can offer to their advertisers because they offer targetted leads, they need location, preferences age and other vital information, without it, they have no way create targeted leads without it.

If the purpose of the data they collect is what you stated, then I don’t see how they have sold data in anyway. I run my business promo through Facebook, and I pay them to show my product to the world, so they pick my product and show it to some number of people based on the amount I paid for.

I don’t have access to those people’s information for me to contact them, they only contact me when they are interested in the product being shown to them, so I don’t know why they should be accused of selling data, except what they are being sued for is that they are abusing the privacy of the people they are showing the product to which is how they make money and we also make money too.  Facebook advert has even blessed the economy of America more than what they can imagine, in my country, do you know how many things has been imported from America just because they saw the advert on Facebook? So is the America talking about?

[sandra_x]

Steep fine for face book but nearly not enough to remedy the havoc the facebook hack and privacy violations has caused over the course of many years. Somehow the fines will not get to the real victims of the violations. The more important deal is the proposed changes in the way facebook handles subsequent issues

[dkbit98]

I don't think they will ever stop, Facebook needs data so they can work out and create data that they can offer to their advertisers because they offer targetted leads, they need location, preferences age and other vital information, without it, they have no way create targeted leads without it.

If the purpose of the data they collect is what you stated, then I don’t see how they have sold data in anyway. I run my business promo through Facebook, and I pay them to show my product to the world, so they pick my product and show it to some number of people based on the amount I paid for.

I don’t have access to those people’s information for me to contact them, they only contact me when they are interested in the product being shown to them, so I don’t know why they should be accused of selling data, except what they are being sued for is that they are abusing the privacy of the people they are showing the product to which is how they make money and we also make money too.  Facebook advert has even blessed the economy of America more than what they can imagine, in my country, do you know how many things has been imported from America just because they saw the advert on Facebook? So is the America talking about?

I don't understand you at all...
and the fact that you profited from Facebook does not mean a thing for me.

Facebook reads your every so called PM 'private message'
If you are OK with that, I am not.

All the best

[FIFA worldcup]

I don't think they will ever stop, Facebook needs data so they can work out and create data that they can offer to their advertisers because they offer targetted leads, they need location, preferences age and other vital information, without it, they have no way create targeted leads without it.

$5 BILLION is a big amount but not for a company named Facebook. They can easily pay this amount and they will continue doing what they are doing now. Technically speaking they have the the data of everyone who uses the internet (As all the internet users have facebook account) and they can use this data for their own purpose.

[hotforblockchain]

They will never stop, they made much more on our data.
This just not includes selling our data but using it for their on platform ads.

I recently red some news article about whatsapp and what they plan to do with it, long story short- they are going to monitor us all with whatsapp, I am starting to move away from their owned apps, including whatsapp. Faceook is super company , they are extremely powerful.

[Lawrenzoo]

I don't think they will ever stop, Facebook needs data so they can work out and create data that they can offer to their advertisers because they offer targetted leads, they need location, preferences age and other vital information, without it, they have no way create targeted leads without it.

If the purpose of the data they collect is what you stated, then I don’t see how they have sold data in anyway. I run my business promo through Facebook, and I pay them to show my product to the world, so they pick my product and show it to some number of people based on the amount I paid for.

I don’t have access to those people’s information for me to contact them, they only contact me when they are interested in the product being shown to them, so I don’t know why they should be accused of selling data, except what they are being sued for is that they are abusing the privacy of the people they are showing the product to which is how they make money and we also make money too.  Facebook advert has even blessed the economy of America more than what they can imagine, in my country, do you know how many things has been imported from America just because they saw the advert on Facebook? So is the America talking about?

I don't understand you at all...
and the fact that you profited from Facebook does not mean a thing for me.

Facebook reads your every so called PM 'private message'
If you are OK with that, I am not.

All the best

And so? if they read your pm, in what way has it then added any benefit to them? does you telecommunication company not also have record of all your conversation, and moreover, do you think they will have all that time to read messages of all the users on their database because i do not seems to understand you also, not only him, please make your point clear.

[dkbit98]

I don't think they will ever stop, Facebook needs data so they can work out and create data that they can offer to their advertisers because they offer targetted leads, they need location, preferences age and other vital information, without it, they have no way create targeted leads without it.

If the purpose of the data they collect is what you stated, then I don’t see how they have sold data in anyway. I run my business promo through Facebook, and I pay them to show my product to the world, so they pick my product and show it to some number of people based on the amount I paid for.

I don’t have access to those people’s information for me to contact them, they only contact me when they are interested in the product being shown to them, so I don’t know why they should be accused of selling data, except what they are being sued for is that they are abusing the privacy of the people they are showing the product to which is how they make money and we also make money too.  Facebook advert has even blessed the economy of America more than what they can imagine, in my country, do you know how many things has been imported from America just because they saw the advert on Facebook? So is the America talking about?

I don't understand you at all...
and the fact that you profited from Facebook does not mean a thing for me.

Facebook reads your every so called PM 'private message'
If you are OK with that, I am not.

All the best

And so? if they read your pm, in what way has it then added any benefit to them? does you telecommunication company not also have record of all your conversation, and moreover, do you think they will have all that time to read messages of all the users on their database because i do not seems to understand you also, not only him, please make your point clear.

...

Words PRIVATE messages PM mean anything to you?

If not, then you need to learn better english language, and learn your basic rights as a human being and a customer/user.

Also 5 BILLION explains enough...

[ene1980]

I don't think they will ever stop, Facebook needs data so they can work out and create data that they can offer to their advertisers because they offer targetted leads, they need location, preferences age and other vital information, without it, they have no way create targeted leads without it.

For a company to pay $5 billion as fines for selling sensitive data is not a small thing and if they continue that practice they will be penalized bigger amount which is not good for their business and at what point do you think that they will be stopping these bullshit. The fines that are imposed are not at all small amounts by any means for any business and they should stop their bad practices if not they will end up bankrupt in a few years time. 

[dkbit98]

This is how 'good' Facebook is

https://www.independent.co.uk/life-style/gadgets-and-tech/news/facebook-cryptocurrency-buy-libra-bitcoin-scam-how-much-a9054661.html

[SirLancelot]

-snip

I don't understand you at all...
and the fact that you profited from Facebook does not mean a thing for me.

Facebook reads your every so called PM 'private message'
If you are OK with that, I am not.

All the best

And so? if they read your pm, in what way has it then added any benefit to them? does you telecommunication company not also have record of all your conversation, and moreover, do you think they will have all that time to read messages of all the users on their database because i do not seems to understand you also, not only him, please make your point clear.

Lol, I also seem not to understand him also, because when he said they read private message, the only way feel they can do that is when they have a specific target, because they have too many handful of work to do for them to start reading messages when they don’t know what they will find there.

He should imagine himself staying in from of a system and just reading messages like someone that does not have direction. You know we have some people that when they are using a system, they forget themselves and believe that they are the only one on that network. All I just see people saying is that Facebook sell data, but they have never explained how they really sell the data and how they make money from it, sometimes we just like to follow a trend without understanding a thing about it.

[FIFA worldcup]

They will never stop, they made much more on our data.
This just not includes selling our data but using it for their on platform ads.

I recently red some news article about whatsapp and what they plan to do with it, long story short- they are going to monitor us all with whatsapp, I am starting to move away from their owned apps, including whatsapp. Faceook is super company , they are extremely powerful.

The problem is that we cannot leave facebook and whatsapp as these social media tools and platform are integrated in our lifes. Even if we boycott them, only we will be cut off form our friends and relatives. Hence we have no choice but to continue using these platforms. We need to accept them with their pros and cons.

[dkbit98]

They will never stop, they made much more on our data.
This just not includes selling our data but using it for their on platform ads.

I recently red some news article about whatsapp and what they plan to do with it, long story short- they are going to monitor us all with whatsapp, I am starting to move away from their owned apps, including whatsapp. Faceook is super company , they are extremely powerful.

The problem is that we cannot leave facebook and whatsapp as these social media tools and platform are integrated in our lifes. Even if we boycott them, only we will be cut off form our friends and relatives. Hence we have no choice but to continue using these platforms. We need to accept them with their pros and cons.

How will you be 'cut off' exactly?
Everyone now uses Viber or Telegram,
and there are alternative social medias platforms,
and just maybe you will get more closer to your family with meeting in real life and face to face.

So you have a choice,
but you are stuck in your comfort zone like most of the people

[veleten]

whoever did the info graphic on fines forgot about Microsoft and their pretty big fines
the most recent one amounted to 730 millions:  https://www.nytimes.com/2013/03/07/technology/eu-fines-microsoft-over-browser.html
will Facebook stop? probably not , will they change? probably will hide better their practices
it is clear that they are working together with the governments and/or the agencies to collect the user's data
Google just put it in their terms in conditions - we will spy after you , if you are not happy , do not use us
Facebook kinda "forgot" to do it , but should include the spying part in their terms now

[jostorres]

How will you be 'cut off' exactly?
Everyone now uses Viber or Telegram,
and there are alternative social medias platforms,
and just maybe you will get more closer to your family with meeting in real life and face to face.

So you have a choice,
but you are stuck in your comfort zone like most of the people

Sooner or later, you will hear that Facebook has also bought that viber and all those other social media platform that you mentioned, don’t forget that Facebook bought whatsaap, and I think you dint know that they have bought instagram too which are the major social media platforms that we have right now other than twitter and telegram, and I am sure that it is possible to buy telegram over too, they like money too much and they can easily be bought over.

And even those social media that you mentioned, the fact that they have not yet been caught like Facebook does not mean they are not all selling our data, so there is absolutely nothing we can do for now, except we want to have our own social media platform privately, which means we have to develop it our self.

[dkbit98]

How will you be 'cut off' exactly?
Everyone now uses Viber or Telegram,
and there are alternative social medias platforms,
and just maybe you will get more closer to your family with meeting in real life and face to face.

So you have a choice,
but you are stuck in your comfort zone like most of the people

Sooner or later, you will hear that Facebook has also bought that viber and all those other social media platform that you mentioned, don’t forget that Facebook bought whatsaap, and I think you dint know that they have bought instagram too which are the major social media platforms that we have right now other than twitter and telegram, and I am sure that it is possible to buy telegram over too, they like money too much and they can easily be bought over.

And even those social media that you mentioned, the fact that they have not yet been caught like Facebook does not mean they are not all selling our data, so there is absolutely nothing we can do for now, except we want to have our own social media platform privately, which means we have to develop it our self.

You better first explorer how Viber and Telegram are working.
They have encrypted communication, so they cant sell your info in the same way
and I was talking about connection with family members.

Do you think that Facebook will buy all and rule forever?
Please... wake up...
I am sure Telegram will NEVER sell itself to Facebook for various reasons.

In the end,
if you love Facebook then please use it and enjoy.

[guoyu78]

I think with this Libra coming up it will be a great understanding of what they are after or if they learnt their lesson. If libra becomes something very transparent and not something to be used for evil than we can say that facebook really learnt their lesson and built something that is definitely there to help humanity and not just destroying peoples privacy.

However, if they built something that could basically track your expenses to make sure they sell your spending data to other companies for marketing purposes (which could be used for evil like Cambridge Analytica was used) than we can totally understand what kind of company facebook is and what the direction they are taking even with the penalty they took. We just need time to realize and process what will happen with Libra to give our judgement.

[dkbit98]

However, if they built something that could basically track your expenses to make sure they sell your spending data to other companies for marketing purposes (which could be used for evil like Cambridge Analytica was used) than we can totally understand what kind of company facebook is and what the direction they are taking even with the penalty they took. We just need time to realize and process what will happen with Libra to give our judgement.

Yeah, and most likely this scenario will happen.
I just don't think anyone in Facebook wants to change their ways of doing things and earning money.

[Bitcoin Seller]

However, if they built something that could basically track your expenses to make sure they sell your spending data to other companies for marketing purposes (which could be used for evil like Cambridge Analytica was used) than we can totally understand what kind of company facebook is and what the direction they are taking even with the penalty they took. We just need time to realize and process what will happen with Libra to give our judgement.

Yeah, and most likely this scenario will happen.
I just don't think anyone in Facebook wants to change their ways of doing things and earning money.

The only thing is that it is unclear when Libra goes to the exchanges, and whether at all. The developers do not give comments and offer to buy coins through official applications. It remains only to wait. First, decisions of Congress, then clarifications of the situation with exchanges. If trading does begin, the Libra cryptocurrency has a chance to become a profitable tool for earning short positions.

[dkbit98]

However, if they built something that could basically track your expenses to make sure they sell your spending data to other companies for marketing purposes (which could be used for evil like Cambridge Analytica was used) than we can totally understand what kind of company facebook is and what the direction they are taking even with the penalty they took. We just need time to realize and process what will happen with Libra to give our judgement.

Yeah, and most likely this scenario will happen.
I just don't think anyone in Facebook wants to change their ways of doing things and earning money.

The only thing is that it is unclear when Libra goes to the exchanges, and whether at all. The developers do not give comments and offer to buy coins through official applications. It remains only to wait. First, decisions of Congress, then clarifications of the situation with exchanges. If trading does begin, the Libra cryptocurrency has a chance to become a profitable tool for earning short positions.

Latest news regarding this topic is that
Mark Carney (governor of the Bank of England) proposed that coin like Libra could replace US dollar as a world reserve currency!

source article:
https://www.theblockcrypto.com/tiny/bank-of-england-governor-suggests-a-libra-like-currency-should-become-the-worlds-reserve-currency/

Does it mean it will be Libra or maybe bank of England is creating their own coin?

[Pab]

Good post i really like
I guess Facebook will never stop to do it
It is simply very lucrative to trade users data.I rather think his effort will goes to hide stealing his users private data.It is all comedy to me because anything users post write is going to NSA.Preventing terrorism.I even think that Facebook will not pay that 5 bln penalty
read that Guardian article more light about Facebook fraud

Internal Facebook correspondence from September 2015, released as part of a US government lawsuit on Friday, reveals new details about Facebook’s early knowledge of potentially improper data collection by Cambridge Analytica.

But the correspondence – which the Washington DC attorney general’s office fought for months to unseal as part of its lawsuit – provides new insight into how Facebook staff reacted, or did not react, to concerns about the use of user data by political campaign consultants.

It is criminal by my opinion

https://www.theguardian.com/technology/2019/aug/23/cambridge-analytica-facebook-response-internal-document

[TheCoinGrabber]

Just a drop in the bucket. I don't think government oversight would prevent things like the Cambridge Analytica scandal from happening again. With these big companies, they just get a slap on the wrist fine and proceed to do it again.

Now let's see if people would support Libra. It seems people there in the US do make fun of Zucc and are trying to wean themselves of FB and co but it's still a popular platform in developing countries.

[darewaller]

Just a drop in the bucket. I don't think government oversight would prevent things like the Cambridge Analytica scandal from happening again. With these big companies, they just get a slap on the wrist fine and proceed to do it again.

Now let's see if people would support Libra. It seems people there in the US do make fun of Zucc and are trying to wean themselves of FB and co but it's still a popular platform in developing countries.

Well, mark seems to have already bought everyone over and we can't do without him right now because I have not really seen any other application that has been able to compete with him, other platform that would have done so, he has already bought them over, platforms like Instagram and Whatsaap, so no matter how much they muck him, he still has their keys in his hands, especially the business men and women because his platform has really helped lots of businesses.

I think if government dare allow him to release the coin that would be the beginning of whatever it is that government is scared of about the release of the Libra coin as they have too many business men and women on their platform that would make the platform a success.

[coin-investor]

However, if they built something that could basically track your expenses to make sure they sell your spending data to other companies for marketing purposes (which could be used for evil like Cambridge Analytica was used) than we can totally understand what kind of company facebook is and what the direction they are taking even with the penalty they took. We just need time to realize and process what will happen with Libra to give our judgement.

Yeah, and most likely this scenario will happen.
I just don't think anyone in Facebook wants to change their ways of doing things and earning money.

You cannot change a company that is making a huge profit and become a top company from doing the thing that they are good at, and Facebook is very good at taking our data and selling it, so why would they change, in fact their Libra coin is another coin that they can use to triple their profit, but in this case they can do it legally.

Everybody is watching Facebook's Libra coin's launch because we have something to worry about and at the same time something we are excited about because the whole community is watching how Facebook can help the Cryptocurrency in general.

[FlightyPouch]

Yeah, and most likely this scenario will happen.
I just don't think anyone in Facebook wants to change their ways of doing things and earning money.

I bet they will continue doing those things but this time, since people know how they do it, they will be changing their ways. Not changing that they will not be doing that again but changing it in the way people would not know they are doing it again. They are spoiled to the money and information they are gathering so why stop?

[Lanatsa]

However, if they built something that could basically track your expenses to make sure they sell your spending data to other companies for marketing purposes (which could be used for evil like Cambridge Analytica was used) than we can totally understand what kind of company facebook is and what the direction they are taking even with the penalty they took. We just need time to realize and process what will happen with Libra to give our judgement.

Yeah, and most likely this scenario will happen.
I just don't think anyone in Facebook wants to change their ways of doing things and earning money.

You cannot change a company that is making a huge profit and become a top company from doing the thing that they are good at, and Facebook is very good at taking our data and selling it, so why would they change, in fact their Libra coin is another coin that they can use to triple their profit, but in this case they can do it legally.

Everybody is watching Facebook's Libra coin's launch because we have something to worry about and at the same time something we are excited about because the whole community is watching how Facebook can help the Cryptocurrency in general.

The only thing I do see on what Libra would able to help cryptocurrency in general is on giving out global awareness on whats crypto and might lead up for those people who are involved to seek out the origin of it where it do pertain with bitcoin and no other thing rather than that there no way that this centralized coin will give out any innovative thing on here.It will really be just like an e-payment using up Facebook platform.Im aint negative on this one yet this wont really be that revolutionary at all.It might have facing some issues but I don't see a reason that they would completely stop.They do make arrangements and ways for their coin to be launched but government is too skeptic in related to this.

[roosbit]

The thing is they did it once and am sure made some good money off our data and this settlement of $5b might sound like a huge amount but this is pocket change for what our data is worth to whoever bought this data and the fact that the damage has been done , I don't think this is the last time they will be going to court over misuse of data....more cases await.

[maianh09]

Will you believe that Facebook will do what they have come up with? Will they pay 5 billion dollars to upgrade security and protect user information? Will Facebook stop collecting user information and do you think companies will continue to use the Facebook platform to promote their businesses through ads?

[dkbit98]

Will you believe that Facebook will do what they have come up with? Will they pay 5 billion dollars to upgrade security and protect user information? Will Facebook stop collecting user information and do you think companies will continue to use the Facebook platform to promote their businesses through ads?

Believe ir or not Facebook will pay what they have to pay.
And please do not ask to many empty questions in one post.
Thank you.

[xabre]

Issues of facebook coin looks down and we not hear anymore about they have trying or not for listing Facebook coin, just cross like water without have any good news.

[imstillthebest]

Issues of facebook coin looks down and we not hear anymore about they have trying or not for listing Facebook coin, just cross like water without have any good news.

the issue is not more on the libra coin but its because of the facebook stealing our private data's  . the issue is already there even before but its nice to see that someone has taking an action to charged them  .

 about the facebooks new crypto coin , i dont see or hear any updates from it but if your looking of good news about thier coin , it did happen before  . so many good news that happened  like the price increase of cryptos  during the introduction of libra coin  .

[cryptoperkele]

I wonder if they want to pay that with libra coin? Or in what form these kind of amounts are usually paid?

[SquallLeonhart]

Believe ir or not Facebook will pay what they have to pay.
And please do not ask to many empty questions in one post.
Thank you.

They will definitely pay the 5 billion fee but I am not entirely sure if they will do anything to improve their security. I mean first of all the security risk here is not even breach or hardware or anything like that. Its more about how people could use their marketing system for ruling a whole country, that is the problem.

I mean we get to see how awesomely it works with getting trump... if a bad person takes advantage of facebooks system they could funnel millions of dollars right into facebook to target people who are on the fence about elections and they can win elections that way. I would say as long as facebook keeps collecting data about people there is really not much we can do to stop them because they will keep selling it like they are just helping people do marketing.

[fullhdpixel]

Will you believe that Facebook will do what they have come up with? Will they pay 5 billion dollars to upgrade security and protect user information? Will Facebook stop collecting user information and do you think companies will continue to use the Facebook platform to promote their businesses through ads?

I think what they paid for was just a fine levied on them by the government and not because they paid such amount of money for a technology to protect user’s data, if they do so, then that would be end of business for them, because the major place where they get money from is absolutely the sale of people’s data.

I still don't know what they are trying to achieve with this Libra project because I think it is meant to run on decentralization also, even though one of their team made it clear that they will exclude the anonymous function, but for data purpose, I think they are trying to be transparent now, so I hope government really allow them for the benefit of doubt and we see exactly how this project can affect the cryptocurrency market positively.

[btc_angela]

Just a drop in the bucket. I don't think government oversight would prevent things like the Cambridge Analytica scandal from happening again. With these big companies, they just get a slap on the wrist fine and proceed to do it again.

This one, although it looks like the government are doing their thing, I guess this is just a slap in the wrist and Facebook will continue to dominate this social media niche and if caught? will just pay the find and continue.

Now let's see if people would support Libra. It seems people there in the US do make fun of Zucc and are trying to wean themselves of FB and co but it's still a popular platform in developing countries.

Personally, I'm not a fan of it, but we will see, Facebook are willing to throw and join the scene here even hiring some lobbyist to forward their cause.

[TheGreatPython]

Believe ir or not Facebook will pay what they have to pay.
And please do not ask to many empty questions in one post.
Thank you.

They will definitely pay the 5 billion fee but I am not entirely sure if they will do anything to improve their security. I mean first of all the security risk here is not even breach or hardware or anything like that. Its more about how people could use their marketing system for ruling a whole country, that is the problem.

I mean we get to see how awesomely it works with getting trump... if a bad person takes advantage of facebooks system they could funnel millions of dollars right into facebook to target people who are on the fence about elections and they can win elections that way. I would say as long as facebook keeps collecting data about people there is really not much we can do to stop them because they will keep selling it like they are just helping people do marketing.

Facebook marketing solution works, and if Facebook is to order their marketing solution to seize now, a lot of businesses will collapse because Facebook has help a lot of projects to each places where they could not have been able to reach naturally either through handbill or personal invitation, and they would have spent a lot in reaching their.

But now, Facebook has really gone to help lots of people market their product and people have made money through that, so government cannot stop them, they can only limit them to somethings, like not making the platform available during election and  many more. 

Facebook will always sell their data to wherever feels will save them and that Is how they get more money, and no matter how much charges they slam on them they will still not stop.

[ichai]

No, I think they won't stop paying that fine. because they still have a great idea and have a lot of great partners in the liquidity service sector.
Why are they stopping when their businesses can make hundreds of billions of dollars in years to come?

[Quanatix]

I was having this discussion earlier, which brings to mind risk aversion. Facebook has been fairly successful from a financial standpoint, because it is willing to take the risks - and pay for them, in view of a much bigger reward. So to them, the risk to reward ratio is at an optimal level. If they continue making money, they will be at a sweet spot for a self-enclosed crypto economy. That's why regulators are targeting them, that's why the crypto-community is taking turns bashing and praising them.

[btc_angela]

No, I think they won't stop paying that fine. because they still have a great idea and have a lot of great partners in the liquidity service sector.
Why are they stopping when their businesses can make hundreds of billions of dollars in years to come?

Governments are stopping them because they can monopolised everything. After all Facebook is already huge and they can still grow bigger in the future if they released Libra coin. That's why at this point, US is targeting them because who would stop Facebook? So they are stepping up or at least tell Facebook that they are not in control here. If they are willing to pay that's fine but at least they know that the government is not closing their eyes on them.

[illnino]

I was having this discussion earlier, which brings to mind risk aversion. Facebook has been fairly successful from a financial standpoint, because it is willing to take the risks - and pay for them, in view of a much bigger reward. So to them, the risk to reward ratio is at an optimal level. If they continue making money, they will be at a sweet spot for a self-enclosed crypto economy. That's why regulators are targeting them, that's why the crypto-community is taking turns bashing and praising them.

Hm, Facebook managed to effectively instill fears in representatives of the political and economic establishment, especially the USA. Now, they believe that this massive digital asset cannot be controlled by the US Federal Reserve and can affect the US dollar. In addition, it can become a tool to circumvent any restrictions that are imposed on operations for a number of subjects of the global economy.

[lixer]

I was having this discussion earlier, which brings to mind risk aversion. Facebook has been fairly successful from a financial standpoint, because it is willing to take the risks - and pay for them, in view of a much bigger reward. So to them, the risk to reward ratio is at an optimal level. If they continue making money, they will be at a sweet spot for a self-enclosed crypto economy. That's why regulators are targeting them, that's why the crypto-community is taking turns bashing and praising them.

Hm, Facebook managed to effectively instill fears in representatives of the political and economic establishment, especially the USA. Now, they believe that this massive digital asset cannot be controlled by the US Federal Reserve and can affect the US dollar. In addition, it can become a tool to circumvent any restrictions that are imposed on operations for a number of subjects of the global economy.

The reason more they would have thought of working with him than attacking him, the worst would before them to go against him completely because all he would just need to do is change the Libra name to another and anonymously operate it, he has all the money to fund it and run campaigns, he would not even need to pay for campaign because the platform they will be using is his.

The way that I am seeing the Libra coins, I am not sure I=he is creating it to really deal with the government as people had speculated, I think he is only looking for a way to create a system that will be partially decentralize because of the last accusation that he had with the United states government as regards selling people's data and know that the aspect where blockchain functions most is the area of data management.

[target]

I was having this discussion earlier, which brings to mind risk aversion. Facebook has been fairly successful from a financial standpoint, because it is willing to take the risks - and pay for them, in view of a much bigger reward. So to them, the risk to reward ratio is at an optimal level. If they continue making money, they will be at a sweet spot for a self-enclosed crypto economy. That's why regulators are targeting them, that's why the crypto-community is taking turns bashing and praising them.

Hm, Facebook managed to effectively instill fears in representatives of the political and economic establishment, especially the USA. Now, they believe that this massive digital asset cannot be controlled by the US Federal Reserve and can affect the US dollar. In addition, it can become a tool to circumvent any restrictions that are imposed on operations for a number of subjects of the global economy.

The reason more they would have thought of working with him than attacking him, the worst would before them to go against him completely because all he would just need to do is change the Libra name to another and anonymously operate it, he has all the money to fund it and run campaigns, he would not even need to pay for campaign because the platform they will be using is his.

The way that I am seeing the Libra coins, I am not sure I=he is creating it to really deal with the government as people had speculated, I think he is only looking for a way to create a system that will be partially decentralize because of the last accusation that he had with the United states government as regards selling people's data and know that the aspect where blockchain functions most is the area of data management.

They are creating Libra to get even to the government. Now that they are paying fine as big as $5B, it would only appear like facebook now have the consent for collecting data from the users. They can keep doing it again and again and can end up just paying billions of USD again. And with Libra, the easier for them to collect the data and easy for them to make money.

[muhhentuhhen]

No, I think they won't stop paying that fine. because they still have a great idea and have a lot of great partners in the liquidity service sector.
Why are they stopping when their businesses can make hundreds of billions of dollars in years to come?

Governments are stopping them because they can monopolised everything. After all Facebook is already huge and they can still grow bigger in the future if they released Libra coin. That's why at this point, US is targeting them because who would stop Facebook? So they are stepping up or at least tell Facebook that they are not in control here. If they are willing to pay that's fine but at least they know that the government is not closing their eyes on them.

France has already taken a very strict position. Their finance minister said that the country has got plans to block Libra EU because it han be a threat for their monetary sovereignty. Probably, it will not stop people from using Libra in case it is released, but as we see, Facebook will have to fight with many serious rivals to make its plans come true and not to start a scandal.

[Pamadar]

No, I think they won't stop paying that fine. because they still have a great idea and have a lot of great partners in the liquidity service sector.
Why are they stopping when their businesses can make hundreds of billions of dollars in years to come?

Governments are stopping them because they can monopolised everything. After all Facebook is already huge and they can still grow bigger in the future if they released Libra coin. That's why at this point, US is targeting them because who would stop Facebook? So they are stepping up or at least tell Facebook that they are not in control here. If they are willing to pay that's fine but at least they know that the government is not closing their eyes on them.

France has already taken a very strict position. Their finance minister said that the country has got plans to block Libra EU because it han be a threat for their monetary sovereignty. Probably, it will not stop people from using Libra in case it is released, but as we see, Facebook will have to fight with many serious rivals to make its plans come true and not to start a scandal.

Which will be  a long term rivalry for sure, Facebook already wide followers and supporters if most of them will entertained this new propose digital currency then it will threaten the economy of those people who will participate and start to use this system, Facebook will make a huge benefits
from this and will cater more and more people to use not only the social platform but also the digital currency that they'll offer.

[Shephard23]

https://s8.hostingkartinok.com/uploads/images/2019/07/b3034c429e7b758ad2ce5562ceb04c55.png

https://s8.hostingkartinok.com/uploads/images/2019/07/bc8a8d11b287fe8f959218ee957375c4.png

Department of Justice
Facebook Agrees to Pay $5 Billion and Implement Robust New Protections of User Information in Settlement of Data-Privacy Claims
Facebook will Pay the Largest Civil Penalty in a Data-Privacy Case in United States History

https://[Suspicious link removed]/source_article

After reading this news, one question came in to my mind:
Will they ever stop doing what they are doing?

They where spying on us all the time,
selling our data and information, to anyone who wanted to buy them,
they violated our privacy and they did that multiple times.

They now have to pay biggest penalty ever paid in history of US.
The settlement also requires fundamental changes at Facebook
and removal of Mark Zuckerberg as consumer privacy decision maker.

Facebook also needs to adapt new privacy program and respect user privacy.
This also apply for  WhatsApp and Instagram, that are owned by Facebook.


https://s8.hostingkartinok.com/uploads/images/2019/07/d3438183df4e5ff3d74eb44856e753b5.png


What will Facebook do next?

I think they will make some changes,
but give more energy for their new monster baby called Libra coin.

They know that with Libra they will do all this again, and even more.
They will follow 100% of all users transactions and actions,
and in the same time they will make a deal with government.
Imagine the implications.... Imagine total centralisation.

Don't forget that Libra will be based in Europe, Switzerland.

On July 30th we have new senate hearing regarding regulating all digital currencies and blockchain
https://www.banking.senate.gov/hearings/examining-regulatory-frameworks-for-digital-currencies-and-blockchain


Summary

I don't know how good for cpypto space is potential creation of Libra coin,
as people will forever associate it with previous Facebook actions.
But if Facebook have billions to pay ... I say let them pay.

Meanwhile we can use this time to introduce more people with BITCOIN,
one real decentralised crypto who can beat them, and give power back to the people.

https://s8.hostingkartinok.com/uploads/images/2019/07/8889a9a989282378395f18e59eaf35ab.png

I know this facebook stuuf will be fun to watch, the reality tv show is just getting started LOlz

[bitgolden]

~snip

I know this facebook stuuf will be fun to watch, the reality tv show is just getting started LOlz

Nothing to watch really,  Facebook will never stop firm selling data because that is what they make money from, and you know that their platform is more known to be used for adverts and without that, there is no way that they can reach people and get them engaged with the promoter. They will just be ready to always face the fine that government will place on them.

For the Libra coin, I think the story is already turning to a sad one as we may never hear anything concerning it again, first Facebook issue a statement through their rep that they may never be able to sustain the project and make it work while there has been so many governments attacking them from left and right about their project proposal which I doubt they are willing  to support.