Facebook reveals its cryptocurrency Libra

Post by lucasverra » Wed, Jun 19, 2019, 1:21 PM UTC

WA wrote: post #880

edmundsauto wrote: post #786

Earlier quoted context omitted.

Was it the data that was merged with WhatsApp, or was it the infrastructure? AFAICT, FB can't connect what I said on whatsapp to what I say on Messenger because everything is e2e encrypted. They have metadata (would need it to route the messages, and for providing the service). What am I missing?

Mainly, they said they would not connect your phone number to your FB account, but then the did. Furthermore, metadata is super critical already. Don’t forget that WhatsApp has your location data as well (if you enable it, what most people probably do to share their location with friends occasionally). Although I have no proof, knowing FB, I bet they extract meta data from all of your photos and send them back. I mea…

Post by asdfman123 » Wed, Jun 19, 2019, 2:23 PM UTC

nostrademons wrote: post #918

mekoka wrote: post #853

Let's play a game of predictions. Regardless of HN's opinion of Facebook (and regardless of my own for that matter) I predict that this thing will work. This is only one thing my crystal ball showed me. Facebook's presence in developing economies is massive. To the point of being synonymous with "The Internet" in a number of places. But they've had a nagging problem. People in these economies consume contents, but do…

I predict that Libra will work for a while, but will eventually be overshadowed either by competitors or by the new markets that it enables. There's this pattern I've noticed where every major tech company, once initial traction has been established, gets three pivots. You can think of them as adolescence, mid-life, and rebirth. The first pivot happens when the company is 5-8 years old (since the 1970s at least; olde…

Post by captainredbeard » Wed, Jun 19, 2019, 2:43 PM UTC

hjk05 wrote: post #928

Abishek_Muthian wrote: post #864

Earlier quoted context omitted.

Facebook's hold in developing economies is true. But developing economy's hold on their Fiat currency is true as well. So much so that, India is planning to jail anyone who is holding cryptocurrency for 10 years[1]! If this legislation passes, any computer scientist, mathematician, programmer who is working with crypto tokens & block chain can technically be held liable for possessing a crypto currency when they run…

> Yes, the plan to jail those who hold cryptocurrency in a democratic country is preposterous No it isn’t. We jail people who hold child pornography in democratic countries as well. The core of a democratic country is that it’s governed by democratically elected representatives, not that it’s citizens be allowed access to whatever they want independent of criminal consequences. I get you and others are calling to the…

Post by WA » Wed, Jun 19, 2019, 3:11 PM UTC

lucasverra wrote: post #971

WA wrote: post #880

Earlier quoted context omitted.

Mainly, they said they would not connect your phone number to your FB account, but then the did. Furthermore, metadata is super critical already. Don’t forget that WhatsApp has your location data as well (if you enable it, what most people probably do to share their location with friends occasionally). Although I have no proof, knowing FB, I bet they extract meta data from all of your photos and send them back. I mea…

> If I want to send a photo, I use the Share capability of iOS and select from Photos to share with WhatsApp is FB Inc separated from photo metadata that way ?

Post by adrianmonk » Wed, Jun 19, 2019, 3:30 PM UTC

jpmattia wrote: post #546

Again: A ledger that is not decentralized is a bank database, not a cryptocurrency. As near as I can tell, Zuckbucks are nothing more than the JPMorganCryptocurrency but with a bigger consortium. The only difference seems to be who is given write privileges to the database.