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RE: Facebook’s Libracoin White Paper released amid a wave of controversy
Personally, I think it will run up against regulatory hurdles that see it crash and burn before it gets off the ground. Governments around the world are already not too keen on Facebook's influence and to couple that with even more ways to extract wealth out of people and nations seems like way too much power for one company to have.
They already have :D Though, facebook may already be too big to shut down by regulators. We've seen how light the consequences of the Analytica scandal were. Who's to say it's going to be different this time around just because they want to launch their own coin. I wouldn't put my money on regulators or governments being able to stop FB from doing what they want to do with Libra.
I'm all for capitalism but there comes a point where there needs to be balances and checks in place. I mean you already control so much information and 22% of the worlds referral traffic comes from Facebook. They have more than enough to monetize.
If they were to adopt a currency or currencies that are overlayed in its system and they host nodes or whatever cool but having your own currency on a system where there are data scandals, algorithms running wild and censorship with clear favouritism its just a recipe for disaster.
If they cant be stopped then sure go ahead and it will be up to the people to say no this isn't what we want, which I doubt, sheeple will be sheeple and fb shareholders will continue to get rich