Do you care? I sure don't any more. This silly Libra project, which came out in mid-2019, was supposed to "reinvent money." Yeah right! That's the time when Facebook's team, led by David Marcus, got into hot water with US lawmaker Maxine Waters who told the Menlo Park, Cali-based social media firm to "put it all on hold.' Of course, she was talking about this silly Libra cryptocurrency project that Facebook was so innocently trying to launch.
Then came a Bill from the US regulators saying Big Tech must NOT be allowed to become a financial institution, and rightfully so! Damn Facebook, you own WhatsApp, Instagram and God knows what else...we need to break this juggernaut selfish monopoly up because it's been hogging our personal data and profiting off of it for years and year. But yeah Shopify joining Libra Association don't mean nothing. Honestly, who cares and the world will rightfully not let this selfish project move forward.
Libra was supposed to be a cryptocurrency which would serve as a medium-of-exchange but regulators pressurized the Libra Association members so much that they changed their product development goals and said that it would just be a payments system and perhaps a stablecoin pegged to a basket of major world currencies. What the heck, don't we already have Facebook Pay or something?
And if you also recall, Bitcoin developer Jameson Lopp had confirmed that although Libra's technical fundamentals were sound, the crypto platform would not be based on an actual blockchain network. Yet the Libra Whitepaper went on and on with using the word "blockchain" to describe how the digital currency would be implemented. At the time, the self-absorbed egotistical BTC Maximalist Dr. Saifedean Ammous had claimed that Libra would be as influential and popular as almost Bitcoin. Yeah, right.
I just don't see the need for Libra honestly. As Twitter and Square CEO Jack Dorsey would put, we need Bitcoin (BTC) and that's basically it, which is why he's tru to da game, and won't be launching no Twitter Coin haha
