art by Alotta Money https://twitter.com/money_alotta
I stayed up all night when Zuck's FaceCoin launched.
I have mixed feelings. If FB normies wake up, and then gravitate to Bitcoin and other cryptos, then my fears might not be so bad (this is what I think will happen). If, on the other hand, FB co-opts the entire crypto movement, and people are brainwashed, plus if Zuck and his buddies get in control of govs, and begin influencing policy to destroy other cryptos, hmmmm, maybe this is too pessimissistic.....maybe I've just watched too many episodes of Black Mirror but I along with others are pretty shaken up. I think people are not that stupid, but...............then again, look at the Orange Buffoon..
The Sci Fi writers of the past have predicted this. We are now entering a dystopia where our bank is tied to our social data, and none of us is in control of it. The Social Credit score is now poised and ready to snuff out whatever freedoms were left. If Facebook decides to ban you, your bank account goes too. Out of all the responses so far from people, I feel most closely aligned with Alotta Money's art.
Now, for a bit of fun. Facebook Libra has been trolled on Github, as i first learned this from Twitter, which prompted my comment, "selling souls has a price tag."
See thread on Twitter:
https://twitter.com/stellabelle/status/1142120657024630784
- stellabelle
And here's the Github that shows how people are trolling the FaceCoin engineers:
https://github.com/libra/libra/issues/102
You may not see this right now, but we are frogs sitting in lukewarm water with a dull flame under our asses. As the years go on, the water will be too hot for our survival.
This is all you need to understand about FaceCoin (Libra):
You will not be earning interest or benefitting from buying FaceCoins. Other cryptos like EOS and others pay dividends, like bank interest, for you to hold your crypto, but FaceCoin doesn't. FaceCoin has made it clear that regular people will not be earning any interest from holding FaceCoin. FaceCoins will only be benefitting the rich people (you have to have $1B to be in their club), because they will be earning interest on the money you pay to get FaceCoins.
Here's how it works:
You pay Facebook $1 USD to get 1 Facecoin (for example, I don't the exact exchange rate). Facebook deposits your $1 USD into their bank account. Now, let's say 2 billion people do this. That's now $2 billion USD that Facebook starts earning interest on. That interest will not go to you, it will go to Zuck and his filthy AF rich friends who are "in the network". If you had invested in Bitcoin, you would have earned more (most likely) as Bitcoin prices have tended to up over time. (not investment advice). Zuck has stated that they will be printing as many FaceCoins as needed, so in essence, they will not be worth much over time. It's like a fake crypto that is backed by the most value-less fiat that has ever existed on the planet. If you really want to understand what money is, and what it has been and what it is to become read this thread, it's incredible:
https://twitter.com/Breedlove22/status/1141567060847149056
- Breedlove22
What should you do then? -------------------> Buy Bitcoin and definitely #DeleteFacebook
Cheers,
Stella
none of this is financial or investment advice. please DYOR (Do your own research)