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Thread: Facebook Libra cryptocurrency project hits bumpy road

  1. #1
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    Facebook Libra cryptocurrency project hits bumpy road

    Last week Visa and Mastercard withdrew support. Today the G7 outlines 9 major risks.
    Read more.

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    Re: Facebook Libra cryptocurrency project hits bumpy road

    Burn, baby, burn!
    Quote Originally Posted by Agent View Post
    ...every time Creative bring out a new card range their advertising makes it sound like they have discovered a way to insert a thousand Chuck Norris super dwarfs in your ears...

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    Re: Facebook Libra cryptocurrency project hits bumpy road

    Good

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    Re: Facebook Libra cryptocurrency project hits bumpy road

    E-corp.

    E-coin.

    Evil corp.

    I do not think that any company that has political leanings, revokes services due to disagreeing with people's politics and actively censors should be involved in finance. Being able to access your money / pay for food is not something that should ever be in the hands of an overtly political company. That MasterCard and Paypal have revoked services from people who are politically undesirable is a step too far.

    How long until you get worried about saying anything not negative about Tommy Robinson because you are going food shopping and can't risk Facebook suspending your account? Tiny steps, but we are getting closer and closer to that reality.

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    Re: Facebook Libra cryptocurrency project hits bumpy road

    Good news really, and the crypto market has taken this well - no drops/dips when this came out last week, showing nearly 2% up based on the last 7 days. We just need the FOMO to build so that the price can climb back up to $10k again next month

    The market doesn't need Facebook's XRP copycat, I think most of us are happy enough with BTC in general for our crypto needs (at least when the transaction fees are low, as they are at the moment), and that doesn't have Facebook sniffing around it.

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    Re: Facebook Libra cryptocurrency project hits bumpy road

    I am not touching anything with facetwitt in it, O hell no

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    Re: Facebook Libra cryptocurrency project hits bumpy road

    Interesting) Will this help Facebook))

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    Re: Facebook Libra cryptocurrency project hits bumpy road

    Quote Originally Posted by philehidiot View Post

    How long until you get worried about saying anything not negative about Tommy Robinson because you are going food shopping and can't risk Facebook suspending your account?
    Not exactly on most people's worry list I'd have thought. Hopefully.

    There are other currencies available for food shopping I believe.
    ------------------

    Valar Morghulis

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    Re: Facebook Libra cryptocurrency project hits bumpy road

    Quote Originally Posted by Pleiades View Post
    Not exactly on most people's worry list I'd have thought. Hopefully.

    There are other currencies available for food shopping I believe.
    Should your right to use any currency be threatened by how your political views are interpreted? It's one of those slippery slopes. You dismiss it now because it's the minority and it's people we don't particularly like.

    Simple potential situation. Farcebook's currency gives you a decent discount at supermarkets as it gives them useful and powerful marketing data. But, due to Facebook labelling you an undesirable, you can't use their currency. Suddenly you have people who Facebook deems unworthy paying more for food. You suddenly have a social credit style system with Farsebook being judge and jury.

    Whether you are worried about this or not, it is wrong. Totally wrong and it should never be allowed to happen. Just because it doesn't affect me and only hurts those with whom I disagree, does not make it right or worth ignoring.

    Also, if people aren't worried about it, they should be. I used a single word on Tw*tter and was banned. It wasn't an properly offensive word, wasn't swearing and something you'd hear in the pub and not think twice about. It was also stated in the tweet it was a joke at a mate. They banned me for hate speech for making a joke which any normal person would make with mates. So you're there, all wrapped up in and using Farcebook's currency and suddenly, you get banned for something you thought was innocuous. Or you get suspended for 7 days because you thought you were having a harmless laugh but they decided you were a hateful bigot according to their vague standards. They also banned me for it 9 months after the event....

    There is stuff said on this forum that can get you banned or suspended from these platforms and, if your finances are controlled by them, that's a very dangerous place to be. That there are other currencies available is not relevant. I don't keep multiple currencies just in case one bans me from using it. The right to use a currency as a means of exchange should not be based on political belief or whether you have a dark sense of humour of which some moderator somewhere disapproves. Bear in mind these people change the rules and apply them retrospectively and you end up in a minefield.

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    Re: Facebook Libra cryptocurrency project hits bumpy road

    Quote Originally Posted by philehidiot

    There is stuff said on this forum that can get you banned or suspended from these platforms .....
    Some things can be said here that will get you suspended or banned here too but you generally have to work quite hard at it, and very rarely without several chances and a right to escalate your "appeal", especially if it's a ban.

    But I agree with your general points. It's one reason I won't use Steam - spend loads on games then risk getting locked out if you do, deliberately or otherwise, something they view as a breach of terms.

    And if I won't use Steam for that (and other) reason, I sure don't approve of Libra, and under no conditions would I use it. I hope it never gets off the ground, but don't have much of a say either way.

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    Re: Facebook Libra cryptocurrency project hits bumpy road

    Quote Originally Posted by Saracen999 View Post
    Some things can be said here that will get you suspended or banned here too but you generally have to work quite hard at it, and very rarely without several chances and a right to escalate your "appeal", especially if it's a ban.
    This is good to know. I recently got banned from one of my previously favourite forums, Hifi Wigwam. I wasn't sure why but my mental health was not going through a good period at that time. Perhaps I just poked at them too much.

    Back to this story, I don't see it not working out but they will have to link up all the marketing, give them 3 years. I have no problem with loading an app with facebook currency and spending it on the high street or online (providing it's teathered, maybe, to an actual currency to avoid large fluctuations in value).
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    Re: Facebook Libra cryptocurrency project hits bumpy road

    Quote Originally Posted by Millennium View Post
    This is good to know. I recently got banned from one of my previously favourite forums, Hifi Wigwam. I wasn't sure why but my mental health was not going through a good period at that time. Perhaps I just poked at them too much.

    .....
    I should caveat my comment with the obvious - that I'm out of the loop and have been for months. My comments are certainly true historically and I've no reason to think anything has changed much on that.

    A suspension coukd arrive pretty fast, especially for those that certainly know better, but actual bans were pretty rare .... except for new-signup spammers of course. They bit the dust pretty quickly.

    And your "not a good time" comment is one reason why we were always cautious, as we had that happen more than a few times. And still may have missed some.

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