Facebook Proposes A Cryptocurrency Of Its Own – IOTW Report

Facebook Proposes A Cryptocurrency Of Its Own

Earlier this week, social media giant Facebook proposed the creation of its own cryptocurrency. Called Libra, the digital cash would be based upon on portfolio of major currencies and bond holdings. If this “Library Reserve” works as intended, the new Libra currency would maintain its value releative of the real money backing it. 

Libra would also utilize blockchain to secure each transaction against fraud and hacking.

Zuckerberg’s stated dream is to create a nearly frictionless exchange that would allow anyone with a Smartphone and Facebook account to make or receive payments from anywhere in the world. More

Not everyone is so sanguine with Facebook acting as a neutral exchange only interested in facilitating financial transactions. More

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23 Comments on Facebook Proposes A Cryptocurrency Of Its Own

  1. Oh, GAWD. It’s as bad as John McAfee and his latest “I’ve got 31 terrabites of info to destroy corruption in the U.S. if they don’t leave me alone…BUT BUY MY LATEST ARTWORK AND CRYPTOCURRENCY HYPE! stunt.

    This is NOT “old fart” talk: Crypto SOUNDS great, but the reality is that your “wealth” can EVAPORATE as quickly as any information…ETHER REMAINS ETHER.

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  2. They’ve already shown us what they will do if they don’t like what you say.
    Now give them yer money and/or hard work and see how fast they lock that up if you don’t toe their line!!!
    Uhhhhhhh, horseshit!

    17
  3. …headed that way, just like the Bible says…

    “16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:

    17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.”

    -Revelation 13:16-17

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  4. With FuckZuckBook’s record of privacy protection, free speech protection, and political neutrality………Ummmmmm………..no. Not only no, but FUCKIN’ HELL NO. Got that loud and clear? Did I stutter or mumble? Good.

    10
  5. Control the healthcare industry – control the people.

    Control the currency – control the people.

    Control the food – control the people.
    ____________________________________________________

    Eliminate the politicians and the bureaucracy – the people control their destiny.

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  6. The government anti-trust boys need to get into the face of these guys (Facebook, Twitter, ABCinc, Amazon fast. They need to be broken up to stop them from continuing their march to power. I’d take a close look at Disney as well.

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  7. I happened to hear this being hailed as the tipping point at which cryptocurrency becomes viable on one of the establishment Republican radio stations out of Seattle the other day. It matters not which station it was, they are pretty much interchangeable.

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  8. Funny money from a tyrantocorp that makes up rules
    as it “guides” the smelly, stupid, hoi poloi to
    think proper thoughts while selling their personal information.
    Currency not backed by precious metals requires belief
    and trust in the minds of the population in order to be accepted.
    Do YOU trust FB?

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