Libra, Facebook’s new cryptocurrency, explained

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On June 18, Facebook announced the debut of its digital currency Libra. Here’s some background on how the initiative works. Subscribe to The Washington Post on YouTube:

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Libra, Facebook’s new cryptocurrency, explained

44 Kommentare

  1. Can’t wait to see the banned merchant list. Again Congress is AWOL, while these tech psychos destroy the nation. They do nothing, because they get access to your data too.

    1. That’s why they created the association. So they only have as much power as the rest of the companies. Plus anyone can create a wallet to compete with Calibra.

  2. this is not a real crypto currency is indeed a digital currency. a real crypto currency is Bitcoin and Digibyte. Pleas educate yourself b4 putting your money into Libra. The question u want to ask yourself is. Do I want Facebook to know and hold my finical data and control it? Digibyte, BItcoin and Cardano just to name a few are what a Crypto should be.

    1. @Nicholas Jarrett Also none of the wallets I use like Exodus , ATomic wallet never asked for my ID and never will..Calibra will. Where do you think that data w your ID will be stored hmmm..? on Facedicks servers. A true wallet like the Exodus will never ask for your ID because it is based on one of the 5 pillars of blockchain.

    2. @nelson carreiro I’d assume because the Calibra app will also act as an exchange platform, which, if they exchange fiat to crypto, they will need to conform to KYC requirements. It’ll be more like binance or coinbase, everything you have is stored on their servers (either their hot or cold wallets) and will rarely be withdrawn to an external wallet.

    1. That is the point they know the cash for info days are over.I think they are betting on the third worlds lack of banking infrastructure to stay alive and even thrive.

    2. @npcwill I think everyone’s in for a big surprise everyone is about to go thru a global reset. All counties are going to currencies backed by gold and precious metals….that’s just the beginning of things that are in the works. WWG1WGA

  3. Libra is the opposite of Bitcoin. It’s centralized, permissioned and regulated. Facebook can keep tabs on all the information and control everything about it. It’s a very similar instrument to Ripple. Think of it like this, Bitcoin is like Ironman and Libra is like Thanos. Evilcoin

    1. I’d say any real currency cannot be like bitcoin. Try to convince an oil lord to sell his oil based on, uh, a 51% algorithmic thingy that needs the Internet to work. Cryptocurrencies are super cool as technology but I strongly doubt they can be used as real currency with our current technological level.

    2. So the banking elite wants to undermine the socio-economic advantages of Bitcoin by presenting an inferior controlled option.

  4. This is Facebooks hope that they can be the Mark of the Beast. Can’t wait until they are able to prevent people from using their currency because they don’t think like the NPC.

  5. It’s just a scam. It’s not a crypto currency, it’s just a database Facebook controls and a banking instrument. It’s their version of Paypal. That’s all.

    1. Jeremy Gregorio very well said. They shouldn’t be labeling it as a crypto currency when it’s far from it. It’s centralized, controlled, and not anonymous – everything crypto aims not to be.

    2. Well, let’s see.
      Is it based on blockchain? Is it encrypted? Is it made up, with no dependency of another currency (as PayPal is)? So I think it’s criptocurrency. It would be the same as if Bitcoin setup a profile to each wallet, nobody said that the profile is real.

    3. @Matheus Santos It’s not made up. You give them money and they give you coins. So it’s just a distributed Leger Facebook controls that’s used to track how much of your money Facebook is holding for you. It’s just the Facebook bank

  6. So let me get this straight: I will allow an organization that runs purity tests and enforces wrongthink bans to manage my finances?!

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