LinuxQuestions.org
Welcome to the most active Linux Forum on the web.
Go Back   LinuxQuestions.org > Forums > Non-*NIX Forums > General
User Name
Password
General This forum is for non-technical general discussion which can include both Linux and non-Linux topics. Have fun!

Notices


Reply
  Search this Thread
Old 06-18-2019, 07:14 PM   #1
frankbell
LQ Guru
 
Registered: Jan 2006
Location: Virginia, USA
Distribution: Slackware, Ubuntu MATE, Mageia, and whatever VMs I happen to be playing with
Posts: 15,224
Blog Entries: 25

Rep: Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338
Facebook Attempts To Take Over Cryptocurrency


The Zuckerborg continues its assimilation. It is now planning to launch its own fiat currency.


https://www.sfgate.com/business/arti...y-14013605.php


What could possibly go wrong?

Last edited by frankbell; 06-18-2019 at 07:15 PM.
 
Old 06-18-2019, 09:06 PM   #2
LMINTUSER
LQ Newbie
 
Registered: Apr 2019
Posts: 14

Rep: Reputation: Disabled
I don't use nor trust any form of cryptocurrency.
 
Old 06-18-2019, 09:14 PM   #3
frankbell
LQ Guru
 
Registered: Jan 2006
Location: Virginia, USA
Distribution: Slackware, Ubuntu MATE, Mageia, and whatever VMs I happen to be playing with
Posts: 15,224

Original Poster
Blog Entries: 25

Rep: Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338
Nor do I. They are the ultimate in fiat currencies.

The same almost goes for Facebook. I say "almost" because I do reach out for an organization I believe in and one must reach out where the people are, and the people are on the Zuckerborg.
 
Old 06-18-2019, 09:54 PM   #4
Contrapak
Member
 
Registered: May 2019
Location: /home/
Distribution: Arch Linux
Posts: 126

Rep: Reputation: 28
How can anyone trust Facebook to handle a cryptocurrency when it's currently dealing with scandal after scandal with its user data.

On the flip side, Libra is written in Rust and open source. An interesting language choice.
 
Old 06-18-2019, 10:35 PM   #5
syg00
LQ Veteran
 
Registered: Aug 2003
Location: Australia
Distribution: Lots ...
Posts: 18,009

Rep: Reputation: 2883Reputation: 2883Reputation: 2883Reputation: 2883Reputation: 2883Reputation: 2883Reputation: 2883Reputation: 2883Reputation: 2883Reputation: 2883Reputation: 2883
Quote:
... with plans to have the currency available in a digital wallet available in Messenger and WhatsApp, in addition to a stand-alone app
...
The data from Calibra's transactions will be kept separate from the data Facebook collects from users of its other services and won't be used to improve Facebook's ad targeting.
Hmmm ... is it just the cynic in me ?.
 
Old 06-18-2019, 11:16 PM   #6
greencedar
Member
 
Registered: Sep 2018
Location: Missouri / Taiwan
Distribution: Ubuntu 18.04 Bionic Beaver & Linux Mint 19.1 Tessa
Posts: 462
Blog Entries: 1

Rep: Reputation: 28
Trust Facebook? Come on now, who are they kidding.

Cybersecurity expert Mike Chapple, in the article, stated:

Quote:
Cybersecurity and privacy expert Mike Chapple, an associate teaching professor of information technology, analytics and operations at the University of Notre Dame's Mendoza College of Business, said Libra's design may preserve the privacy of transactions, preventing outsiders from peering in, but Facebook's role gives the company the ability "to penetrate that veil of privacy."

"While Facebook promises that they won't access information from the currency's digital wallets 'without customer consent,' there are no technical barriers to them doing so," he added. "As with many technological innovations, Libra offers us a trade-off between privacy and convenience."
There are no technical barriers preventing Facebook from using the the user's information. All a user has is their "word."

Last edited by greencedar; 06-18-2019 at 11:17 PM. Reason: grammar
 
Old 06-19-2019, 12:55 AM   #7
//////
Member
 
Registered: Nov 2005
Location: Land of Linux :: Finland
Distribution: VirtualBox win 10 guest | OpenBSD 6.5 bridge | Fedora 30 | windows 10 pro 64bit
Posts: 390

Rep: Reputation: 170Reputation: 170
googled this :

Quote:
Facebook insists that Facecoin - sorry, Libra - will have all the benefits of Bitcoin without the downside. It will be "global and instantaneous" like the original cryptocurrency but also secure and stable. And because it does not rely on mining, it will not have a major environmental impact.
i would have start using it if it were mineable.
 
Old 06-19-2019, 02:07 AM   #8
ondoho
LQ Addict
 
Registered: Dec 2013
Posts: 12,005
Blog Entries: 9

Rep: Reputation: 3211Reputation: 3211Reputation: 3211Reputation: 3211Reputation: 3211Reputation: 3211Reputation: 3211Reputation: 3211Reputation: 3211Reputation: 3211Reputation: 3211
Quote:
Originally Posted by syg00 View Post
Quote:
The data from Calibra's transactions will be kept separate from the data Facebook collects from users of its other services and won't be used to improve Facebook's ad targeting.
hmmm... where have I heard that one before ... almost verbatim?
 
Old 06-19-2019, 03:09 AM   #9
cynwulf
Senior Member
 
Registered: Apr 2005
Posts: 2,291
Blog Entries: 5

Rep: Reputation: 1517Reputation: 1517Reputation: 1517Reputation: 1517Reputation: 1517Reputation: 1517Reputation: 1517Reputation: 1517Reputation: 1517Reputation: 1517Reputation: 1517
"Libra" already exists as a real currency:

https://es.wikipedia.org/wiki/Libra_esterlina
 
Old 06-19-2019, 08:41 AM   #10
Contrapak
Member
 
Registered: May 2019
Location: /home/
Distribution: Arch Linux
Posts: 126

Rep: Reputation: 28
If you haven't read "The Circle," now's the time to do it.
 
Old 06-19-2019, 09:30 AM   #11
ugjka
Member
 
Registered: May 2015
Location: Latvia
Distribution: Arch, Centos
Posts: 357
Blog Entries: 5

Rep: Reputation: 250Reputation: 250Reputation: 250
Only old people use facebook these days...
 
Old 07-09-2019, 03:33 AM   #12
RomSh
LQ Newbie
 
Registered: Jul 2019
Posts: 2

Rep: Reputation: 10
Am I the ONLY person who sees Facebook getting into and monitoring not only our wallets, but our very economic identity, unnerving in the extreme? To some extent, they already do, but it is indirect monitoring. This will mean they will control your economic life from beginning to end. I am still a huge fan of Bitcoin, just keep it, read cryptocurrency news to keep myself informed.

Last edited by RomSh; 07-10-2019 at 03:44 AM.
 
Old 07-09-2019, 08:30 PM   #13
frankbell
LQ Guru
 
Registered: Jan 2006
Location: Virginia, USA
Distribution: Slackware, Ubuntu MATE, Mageia, and whatever VMs I happen to be playing with
Posts: 15,224

Original Poster
Blog Entries: 25

Rep: Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338Reputation: 4338
Quote:
Am I the ONLY person who sees Facebook getting into and monitoring not only our wallets . . . .
No.

Facebook is the Enron of "social" media.
 
Old 07-10-2019, 12:36 AM   #14
jsbjsb001
Senior Member
 
Registered: Mar 2009
Location: Earth? I would say I hope so but I'm not so sure about that... I could just be a figment of your imagination too.
Distribution: Currently OpenMandriva. Previously openSUSE, PCLinuxOS, CentOS, among others over the years.
Posts: 2,897

Rep: Reputation: 1492Reputation: 1492Reputation: 1492Reputation: 1492Reputation: 1492Reputation: 1492Reputation: 1492Reputation: 1492Reputation: 1492Reputation: 1492
Quote:
Originally Posted by ugjka View Post
Only old people use facebook these days...
There's still plenty of young people using it where I live. Some people are addicted to it, why I don't know.

I'm glad I had my Facebook account closed - I don't miss it one little bit. It really is a complete waste of time and bandwidth. I don't see how Facebook's crypto currency would be useful to anyone outside of Facebook, and even if it is; why would anyone outside of Facebook even want to use it? No thanks.
 
Old 07-10-2019, 10:47 AM   #15
Contrapak
Member
 
Registered: May 2019
Location: /home/
Distribution: Arch Linux
Posts: 126

Rep: Reputation: 28
Quote:
Originally Posted by jsbjsb001 View Post
There's still plenty of young people using it where I live. Some people are addicted to it, why I don't know.
It might have to do with FB accounts being tied to Instagram, which I know many young people use.

Quote:
I'm glad I had my Facebook account closed - I don't miss it one little bit. It really is a complete waste of time and bandwidth.
Totally. I deleted my account several months ago after being a user for nearly 10 years. I couldn't stand what people were posting and feeling like a product that'll help line Zuckerberg and his cronies' pockets/

Quote:
Originally Posted by ugjka View Post
Only old people use facebook these days...
Not entirely accurate. There are still young people, especially college students, who use Facebook. However, Facebook totally broke old people, particulary boomers, who feel the need to post obnoxious means and are gullible enough to believe everything they read on Facebook.

Quote:
Originally Posted by RomSh View Post
Am I the ONLY person who sees Facebook getting into and monitoring not only our wallets, but our very economic identity, unnerving in the extreme? To some extent, they already do, but it is indirect monitoring. This will mean they will control your economic life from beginning to end. I am still a huge fan of Bitcoin, just keep it, read cryptocurrency news to keep myself informed.
Quote:
Originally Posted by jsbjsb001
I don't see how Facebook's crypto currency would be useful to anyone outside of Facebook, and even if it is; why would anyone outside of Facebook even want to use it? No thanks.
I don't either. With repeated privacy scandals, I refuse to believe anyone can trust Facebook with their financial information, let alone use a cryptocurrency they created.
 
  


Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off



Similar Threads
Thread Thread Starter Forum Replies Last Post
Facebook question on Linux Firefox. When you share from your facebook page. bscho Linux - Software 4 06-16-2017 06:12 AM
how to not block facebook contents on websites while facebook.com is denied jogyulas Linux - Server 2 03-09-2017 03:00 AM

LinuxQuestions.org > Forums > Non-*NIX Forums > General

All times are GMT -5. The time now is 03:27 PM.

Main Menu
Advertisement
My LQ
Write for LQ
LinuxQuestions.org is looking for people interested in writing Editorials, Articles, Reviews, and more. If you'd like to contribute content, let us know.
Main Menu
Syndicate
RSS1  Latest Threads
RSS1  LQ News
Twitter: @linuxquestions
Facebook: linuxquestions Google+: linuxquestions
Open Source Consulting | Domain Registration