Those skeptical of Facebook’s creation of their own cryptocurrency have every right to be. The new cryptocurrency, which has been named Libra, has been unveiled, and it’s a dangerous and invasive form of surveillance in the hands of a company known for its privacy concerns and censorship.
Experts have branded the move a dangerous power grab that marks Facebook’s “most invasive” form of surveillance yet. So far, Facebook has enlisted 28 firms, including Spotify and Uber, who each had to invest a minimum of $1o million to be a founding member of the Libra Association, an independent not-for-profit membership organization.
But this will be a hard sell for a company who is determined to silence voices and sell private data to advertisers for a profit. There is no company that should be trusted less than Facebook, other than perhaps Twitter. The unveiling of the Libra cryptocurrency comes just over a year after the Cambridge Analytica scandal, which saw the private data of millions of Facebook users manipulated for the purpose of political profiling. Since then, the social network has been plagued by a series of privacy scandals that have continuously called into question the way Facebook handles its users’ data. Facebook’s decision to branch out into this area could potentially open its users up to risks far beyond the privacy scandals of the past.
According to The Independent, Libra is positioning itself as a new global currency that could take on mainstream currencies like the United States dollar, as well as traditional financial institutions. That will already be difficult to do since Facebook needs your dollars to give you some Libra. In fact, Libra is a fiat currency backed coin. (Try not to laugh at how ridiculous that is!) It’s backed by the U.S. dollar, which is backed by literally nothing, and government bonds, one of the worst investments of all time.
If you are already concerned about Facebook prying into your life, we suggest avoiding Libra at all costs. “If you’re concerned with Facebook knowing too much or having too much access to your private data, Libra will give Facebook even more direct access to your financial information,” said Phil Chen, a cryptocurrency expert who pioneered HTC’s first blockchain smartphone. “It’s not just access to the information of your transactions, it’s direct access to your wealth and capital. If the top-line question about Facebook and antitrust is about whether to break it up and spin off the likes of WhatsApp and Instagram – well Libra is the most invasive and dangerous form of surveillance they have designed thus far. This will easily become the most dangerous antitrust case in history.”
Although there are few, advocates say Libra will help the 1.7 billion people around the world who don’t have access to basic financial services; aka, the “underbanked.” George McDonaugh, the co-founder of blockchain investment firm KR1, says that the new currency is all about collecting more valuable information from people. “Let’s cut to the chase, Facebook – and Libra’s supporting corporations – are doing this for one reason and that’s data. It will be spun as banking the unbanked, revolutionizing payments and connecting the world, but don’t be fooled. This move into the murky world of cryptocurrency is about tapping new wells of data, the modern day oil,” he said. “No doubt there’ll be plenty of assertions over privacy protection and ‘decentralized’ hand waving, but this is all about Facebook enriching their reservoirs of data, knowing who you are, what you’re buying, who you’re paying and how much you have.”
And the cryptocurrency will be the most centralized and controlled cryptocurrency to date. Normally the whole point is to remove interference in transactions and make them anonymous to protect your privacy and data. Libra will do none of that and all the information collected will go right into Facebook’s hands.
You have to kidding us right?
I’d venture nobody on this site has a Facebook
account.
No doubt, rellik. I’ve never used farcebook either. There must also be some sinister reason it’s named after a zodiac sign. The sheeple will be mesmerized and drawn to it like the moth to the flame.
The sign that pertains to weights and measures.
Also, you’re posting apocalyptic, political views on an Amazon affiliate.
Yep, no thanks, not interested,
I wonder,
How useful will a crypto or even FB be
When there is no electric/cable/phone/wifi
Hmmm
Nail,
“How useful will a crypto or even FB be
When there is no electric/cable/phone/wifi”
You forgot Satellite. You live on one of the more
“civilized” islands. I have a phone line (when it works),
but all my stuff is satellite or cell for communications.
Agreed none of the crypto stuff will work, when
the system goes down.
A while back a wind storm took out power and phones
locally. The few Businesses open went to a cash only
basis. I’m sure the local gas station would have accepted a
$50 gold eagle coin for $50 of fuel.
(Just a dig at you PM guys).
This crypto money is absolute BS.
It is worse than PMs.
funny i was talking before about what seeing alot of death does to a person. yesterday i watched a youtube vid about facebook moderators who are contracted by facebook. they say they see some horrible human suffering and death animal crulety. they have to keep that content from going on facebook so people dont see it. but they see it and one guy sounded very disturbed from seeing it daily. he said they dont do nothing about it. who ever these they people are i dont know. wholesale death isnt good for a consumer society. facebook wants to control every aspect of our lives and shield us from atrocities so they can down play the ones they want to dismiss and to play up ones like shootings to control the mainstream opinion politically. facefuck is the devil and is the propaganda arm of socialist agenda. back to my original point how would you like to see horrific shit daily as your job. it is clearly affecting these workers. the fact that most people dont see this pain suffering and death is confimation that its a fake world out there. its very dangerous out there. some woman yesterday was shot 12 times in a local shopping mall while sitting in her car she hadnt even turned the engine off. it was done in the middle of the day.
I’ll stick to gold and silver…….Facebook can pound sand!
The authoritarians/dictators on the left co-opted the “Liberal” word because it sounds benign, sounding like “Liberty”. This is the same scam, using “Libra” because it sounds new age, and has the “Liberty” sound in it, also a scam.
Any currency or currency substitute is a means for the string pullers to clean everyone out. All they have to do is flip a switch and the means of transferring the value is gone. The insiders will have the money originally given them to buy the first coin. They’re using it to buy hard assets. The next in the sequence are what we call “bag holders” ( a tip of the hat to the late Joe Granville).
Libra
Taken from the word liber (al)meaning at liberty or free to go
In Orwellian doublespeak, it really means the opposite of what it says, as a bomb is a peacekeeper.
Liber also means book. And, no doubt, these SOB paranoid psychopaths in charge of our money and our lives, aim to throw the book at us. They will use information to arrest us and steal our freedom. Liber is freedom but libra is not free, it is enslavement; and it is being designed to put us into a very real prison, from which there is no escape, ever.
.
Fermentation is an ancient practice which allows you to extend the life of perishable foods.
When the grid goes down, your freezer contents will have to be preserved. Fermentation requires no cooking as does canning.
Sauerkraut is fermented cabbage. It is easy to make. Just cut or shred it. Pound it. Put salt on it and pound it with your fists until it releases water. This is called brine. Then let it sit in a jar or clay pot (non-metallic) until it ferments into sauerkraut. Keep it in a warm but not hot temperature, out of direct sunlight.
Also, ferment milk into kifer.
Kifer is associated with overcoming lactose intolerance, aiding digestion, cancer prevention, healing leaky gut, antibiotic and probiotic (kills bad, feeds good bacteria), and is associated with longevity. The people of the Caucus Mountains are centenarians who consume kefir daily. They attributed their success to kifer.
You can get what you need from Donna Schwenk.
CULTURED FOOD LIFE . COM
CUTTING EDGE CULTURES
.
Libra will do none of that and all the information collected will go right into Facebook’s hands.
Um, NO, it won’t. I refuse to use it!
” In fact, Libra is a fiat currency backed coin.”
It won’t be for long. They’re just doing that temporarily to help the central banker elites feel more comfortable with it.
Steven, or perhaps globalists want to use facebook to get the world comfortable with crypto-currency. After the inevitable chaos hits look for the globalists to come to the ‘rescue’ with their one-world currency in crypto form.
Montana,one world currency to the rescue?!
You mean ammo will be the new currency,hmmmmm….,OK.
Alchohol is needed to make medication from medicinal plants.
Alchohol is expensive. You can make your own inexpensively.
Learn this skill and become an invaluable asset.
Make homemade vinegars with flavors from added fruit and berries for a fraction of the cost of store bought. They can steal your stash, but not your skills. Travel light.
.
Check out Julia Child’s cooking classes. Broken into six chapters; this course is extraordinary. Comes with video. The video is available on YouTube free of charge.
If you can’t cook, what can you do?
Until recent times, man spent most of his days acquiring food. In current times, preparing food has been relegated to a lowly status. I suspect so that sheeple remain dependent on the system. Free yourself. Learn the joy of food mastery, the science of food. You will be more in tune with nature, saner, and healthier. And it is a great advantage when you’re in the market for a lover or mate. Who doesn’t want to wake up with someone who can whip up a delicious and nutritious meal in a few minutes without batting an eyelash.
Beauty is subjective. We all have our personal preferences. But one thing is universal. Good health results in beautiful skin, hair, nails, posture, shape, and even clear mind, and serene cheerful personality.
Good diet, good health.
.
.
You are quite correct. SKILLS are the currency one will need when the paper and electronic scrip system collapses. It won’t matter how good a Python programmer you are, one first needs to eat.
When SHTF, Maslow’s Hierarchy is the operational structure.
If you have a FB account it’s because YOU volunteered to create an account.
I have way too much work around the house ,and better things to do,than spend 80% of my time online..
Retirees need to find a better way to spend their advanced years other than staying online 12 hrs a day,posting and reading personal opinions from other anonymous posters.
Don’t use facebook and my social media (outside of here) consists of a half dozen friends who I have known for 30 years to life that I E mail politics / current events to. I think of them as “vetted”.
Sigh,don’t use fecesbook/twaddle/gaggle ect.
And why the fuck is there a gaggle captcha symbol in the corner of the sight?!
Oh yeah, I trust Facebook, and let Alexa bug my house too.
Are you people out of your freaking minds, letting big brother bug your homes?
Put an old fashioned light timer on your router at night. Just shut its power off 12:00 to 7:00.
I have a new dishwasher, it uses infra sound to talk to daddy. Problem is I can hear it. My high frequency hearing is better than most teenagers. Modern appliances have apps that talk to appliances on infrasonic frequencies that most people can’t hear. Oops, I can hear it just fine. And may I say it is loud and freaking annoying.
None of my appliances talk to each other or the internet. Hell, I am lucky they still work. I have never used any social media, but it does bug the hell out of me that my internet usage is tracked so that ads can be thrown in my face. There is no doubt the country just keeps slipping farther down the rabbit hole toward a very dark, dystopian future.
Are you asking from a computer, in the presence of any digital devices?
I bet, if you use a catchy phrase, here, in just the right way, it will end up in the news cycle.
Kinda surprised he didn’t name it Zuckerbucks.
I am not rich, yet. Someday…
As best I can tell, rich people treat money as a game.
I think of the establishments, where gambling for money is illegal. So, they gamble for bb’s. It is legal to trade bb’s for currency, another door down.
I would treat Libra the same as a digital pellet that is fed to a video game pet.
Don’t use it to raise an insurrection.
Be the Libra champ.
This what I am going to be when I grow up.
It’s probably called arbitrage, when you’re doing it right. Don’t ask me. I’m not rich.
A 3 layer cryptocurrency is the way to go in the future, including the bottom layer which is anonymous, for all these transaction we want to keep that way.
This guy kinda framed the discussion on the future of cryptocurrencies:
https://www.linkedin.com/pulse/currencies-future-alex-foss/
All this only matters if you partake in the system. I don’t.