Facebook has published the white paper for its future coin Libra and that has raised a lot of emotions. I saw an article on The Guardian about this and the comments were all negative, mostly because it appears that people who read The Guardian or at least the ones who comment hate Crypto and apparently also hate Facebook. I am just showing two:
"Like writing a book on freedom from a prison cell, or building a house where the access road is owned by a known sociopath. To get to your cryptocurrency you have to have electricity, an internet connection, a website marketplace, all controlled by a 3rd party who doesn’t have your best interests at heart. It’s a recipe for disaster, a trap that only a complete fool would contemplate. "
"These entities have grown too much. They must be split up into smaller, independent units and with better control and that very soon. Currently they are accused of avoiding taxation. Now they want to avoid all banking supervision too. Not the mention the mind manipulation."
While in Crypto spaces the comments are also negative, the one thing I was most struck by is that it will be a centralized coin and crypto lovers hate centralization. A funny thing because Crypto is also centralized.
But I think these comments are really out of context, it seems to me to be fear, those who hate crypto are afraid of what could happen to fiat money and the crypto lovers are afraid of what big money can do to their dream of a crypto economy.
And I think both fears are well placed, this coin is going to be backed by some big players so it could destroy a lot of things that have been worked for through sheer size, you know these companies are awash with money and that is how things work, the bigger guys nearly always win.
But in any case we don't know what will happen so writing articles dissing Facebook do nothing, hating them does nothing so just let whatever happens happen.
The same thing happened when Dan presented Voice, a lot of negativity and it hasn't even started yet, we should actually look at these things as opportunities, we don't have to embrace them but why hate them?
