So, that silly little Libra coin thing... What's up with that?

This might be a stale topic at this point, but I felt like sharing my opinions on Facebook's Libra cryptocurrency. Short post, formatted from my twitter thread.

💭 THOUGHT #1:

The 28 founding members of the Libra organization invested a minimum of $10 million USD.
Facebook raised over 1/4 of a billion fucking dollars to start a cryptocurrency.

🥡 TAKE-AWAY:

Cryptocurrency is nearing mainstream, and is being welcomed with open arms...

💭 THOUGHT #2:

Calibra, the subsidiary of Facebook managing all things Libra, will not "share any financial data with Facebook or 3rd parties without customer consent".

🥡 TAKE-AWAY:

Facebook knows they're toxic, and is trying to persuade the public to trust them once again.

💭 THOUGHT #3:

Libra has many partners including Stripe, Mastercard, & PayPal. Facebook claims all the partners have equal voting rights, preventing centralization.

🥡 TAKE-AWAY:

I'm curious how easily Facebook can bully these partners. Taking away platform support would greatly damage them.

💭 THOUGHT #4:

Libra white paper claims 1,000 transactions per second, with 10 second processing time for each transaction to be committed.

🥡 TAKE-AWAY:

...Just use Steem ;^)

note: information for this article was found using Golden.

there ya go! my layman's thoughts regarding "Libra".

Like It? I Also Posted This On Twitter!

LET ME KNOW YOUR THOUGHTS IN THE COMMENTS. TAKE CARE OF YOURSELVES! 💜

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