SAN FRANCISCO — Facebook is going into the banking business.
The social networking company on Tuesday said it plans to help launch a digital currency in 2020, marking one of the company’s most aggressive moves yet to push beyond digital advertising.
A new nonprofit group based in Geneva, the Libra Association, will oversee the currency, called Libra. It will initially be backed by Facebook’s expertise but governed by 28 founding partners including payment firms Visa and Mastercard and internet companies eBay, Spotify and Uber.
>Good Afternoon user, I'm a agent from Facebook. Just dropping by to remind you to repay your 500 zuckbuck loan. Wouldn't want anything bad to happen, would we? Like maybe your nudes accidently leaked to your family? Have a nice day.
People who unironically use kikebook and share all their private data deserve to be scammed as hard as they can, especially boomers.
Will yang pay us out income in zuccbucks?
I’m thoroughly disappointed they didn’t call it Facebucks
One step closer to believing Zuck is literally the antichrist.
This news was really unsettling. This and all cryptocurrencies are retarded as fuck but you just know this new facebook coin will become a new defacto currency second only to USD because the average person is also retarded as fuck, just see all the middle aged single moms spending 5 hours a day online trying to win virtual coins on virtual facebook slot games. Facebook will easily be the next 5 trillion dollar private company. Creating a currency backed by fuck all, not even a country and its military/ tax-payers, is so retarded in economic theory but so genius with the state of the modern world. People are going to eat this shit up big time. Bitcoin but to billions of normies instead of to millions of computer nerds. In the words of Mark Zuckerberg, "People trust me. Dumb fucks."
I'm going to invest in it. What do you think $800cdn or a lb1/2 of cheese would net me if I put it on the ground floor of this thing
I was hoping this was going to become a thread
Theg are calling it libra.
DOGECOIN can be memed like pissing into libras dishes of justice... Or attacking libra biting her...
Normies are going to start flocking crypto like crazy.
>This news was really unsettling. not really, its been expected for a long time that the large Tech Companies will get into the banking sector and provide financial services. this creates more competition for banks who are also forced by new laws to open their APIs/Accounts to everyone else.
>This and all cryptocurrencies are retarded as fuck wrong, not all of them. some of them make a lot of sense like Chainlink which is a decentralized oracle network.
>Creating a currency backed by fuck all Its backed by US dollars and pegged to the US dollar so 1 Libra = 1 dollar.
That's when you know you've hit crazy levels of success in your corporation. When you can do things most states can't. Waiting for Zucc army next year!
Replace corporation with government and it's already here. Who even used cash today? Kikebook is just trying to subverte the government, and out it's hand in banking, same shit just more steps, boomers will eat it up because "look, I have crypto, I'll be rich" while the rest of stew on our hate. I can't wait until they start to die off and it's our turn to run this shit, soon you mother fuckers, soon.
>“boomers will eat it up because "look, I have crypto, I'll be rich“ Boomers hate Crypto, also holding Libra wont make you rich it is pegged to the dollar so 1 Libra is always 1 dollar.
Banks are already trying to get into crtypo and using the same tech, they already invest in it. Fucking idiot boomers buying this shit not knowing jack about it. Fuck making computers more user friendly, if you can't Linux then stay the fuck off the internet, you're ruining my playground with your faggotry.
They were the ones that hacked the price up to 20k, the rest of us laughed and bailed at 8k to 12k, it's those idiots buying it up causing the hike in price, kikes see their stupidity and are capitalizing on it. It's still over-vauled, especially with all the darknet sites going down, that's thier main purpose, that and for a cyper-libertarian free society, but it's something very few of us get, your average iPhone user will buy it on a app and never use it, just buy and think they are going to get rich. Fucking tulips and the idiots keep buying because it's digital, they'll ruin crypto.
>Banks are already trying to get into crtypo Yes but for other reasons than Facebook. Banks try to fix their backoffice problems and cut out 3rd parties while also increasing the capacity of their Legacy systems. Banks are in a lot of trouble and crypto is the way out for them.
BTC goes to 200k in the next 5 years tho. Its digital gold not tulips.
Libra However is just a Stablecoin so not really a cryptocurrency.
>US government will outlaw Libra not gonna happen as its not a security. its a stablecoin.
>the central bank's will show their support central banks still profit from this shitcoin because its backed by the dollar
so nothing will happen.
a lot of people will use it, millions of them. as long as it is convenient the average pleb will use it.
i can't wait for the people who own my all my data and gate all my news to also own my bank account and gate all my purchases.
Jeff Bezos is about equally evil, tho
Libra is completely retarded. A huge scam. It's basically a bank without a license where they go put your money in here and we'll turn it into Zuccbux for you and we'll use your capital so that wealthy Jews who invest 10 million fucking dollars can dump on you. Its completely illegal too. This coin will help XRP though since it legitimizes it in the brain of normies and it plans to be profitable for everyone not just people who invest 10 million dollars. >its a stable coin Yeah but the point of it is it represents money that is kept in a bank. The government needs to step in here.
this comes around the time I'm realizing anti-trust isn't the answer, but state executions for sedition. These aren't media platforms, let alone publishers, these are rogue governments.
Are they signaling that online advertising is worthless?
>Jews who invest 10 million fucking dollars can dump on you. no they can't because its a stablecoin. what are they going to dump on you? 1 dollar coins that are also worth 1 dollar and that they purchase for a dollar? makes no sense.
the profit for them is that they will soon sell you financial services like loans etc. and by being part of Libra they get access to a lot of new customers. thats where the money is.
>Yeah but the point of it is it represents money that is kept in a bank. as long as it is audited and confirmed they actually have enough US dollars to back their Libra its okay. there is a lot of other stable coins so its unlikely this one in particular will be banned.
>This coin will help XRP though kek no, thats actually even more worthless than Libra. thats where they pump and dump on you.
You're really not getting it man. >I just created a new stable coin That's legal >I just created a bank That's illegal without the right licenses >I just created a bank but it's not using real money its using Zuccbux which represent real money That's still illegal I'm not saying the coin itself is illegal.
I clearly said the banks will support Libra. The US government will recognize it's being traded up
>boomers eat up crypto
Lmao my mom still writes checks
They won’t touch that shit
Its not illegal tho. everything around it is legal and according to existing laws and regulations. otherwise they would never be able to launch it. you think FB isn't consulting the top kike lawyers before even doing this? nigga pls.
>The US government these faggots are not in charge since 1913 or earlier than that.
It's like you're not even reading my posts.
No one is. You're in an instanced version of the web populated by interactive AI. You're alone in here.
I understand what you are trying to say but nothing about it is illegal and nothing will be done to stop it. Its the future.
>its the future Please do explain why people would turn their money into Zuccbux which can't go up in value? When it's not even a security so best case scenario is it stays the same value and worst case scenario it goes to zero.
I use to think Evil Corp from Mr. ROBOT was stand-in for google.
both are shitcoins you braindead homo.
He's basically not
when you have control over the goyim, anything is possible
Can't wait to witness the crash!
I didn't see your thread before starting mine, here: I'm too lazy to retype it all, but do take a look. The long and short of it is I'm looking at all of these companies forming an alliance that are social media, credit cards, and even banking, and the handwriting I see on the wall is since big tech already works together to deplatform people for what they do on other platforms, people will start to see their credit cards cancelled and their bank accounts closed for wrong speak on the Internet.
WOW! That sounds even better than bitcoin!
Well like all things Facebook, the value will likely debut relatively high and shortly after crater causing widespread disillusionment and content for corporate leadership and then slowly begin to appreciate in value.
Basically all the retard soibois who missed out on Bitcoin will buy it thinking they're really smart.
If you can't buy drugs with it it'll never take off. That's rule #1 of all currency.
>Please do explain why people would turn their money into Zuccbux which can't go up in value? Because its convenient, you will be able to send money through Whatsapp/Facebook and Instagram directly. It will be faster, more secure and enable a lot of more business opportunities in the future. Like give you credit, microloans etc. you say "oh they need a banking license to do that" but you know Mastercard and Visa are on board too and they can provide this service.
This Stablecoin is not meant to hodl to make you rich one day. Its just a digital dollar backed by tech companies.
However if you want to become rich from this shit you need to invest into chainlink as decentralized oracles are essential for a system like this to work.
>save 10% on MC/VISA purchases when you pay with ZUCCBUX >Amazon prime is 50% off with a 5% permanent discount if you pay with ZUCCBUX >Get early access to the latest XBOX games when you pay with ZUCCBUX
They will do exactly like deep pockets do any time they want to cultivate a monopoly. They will lose money offering services/products no one can compete with until they have a critical mass of market share and then they will set the hook and reel in their property(you).
Imagine facebook starting a social credit system with their own money backed by jew banks and blackmail
It's a stable coin so its pegged to the deflationary US dollar.
this post deserved digits
That wouldn't be sustainable because people would just turn their money into Zuccbux real quick and buy the product then cash out. Zuckbux requires you to hold them so that people with 10 million dollar nodes can dump on you. It has no gas function where some of the zuckbux are burnt after purchase and it doesn't go up in value after people buy them. It has no point but to try to circumvent US banking laws. Zuckerberg is a cheeky bastard.
Sounds like a totalitarian nightmare but I wonder if we get in on it early could we make some money sadly I was a poor fag when bitcoin first started I kick myself everyday for not investing in that
Oh great so centralize Mastercard and Visa even more so that if they don't like your "wrongthink" your digital cash account, managed in some Euroniggertopian Shithole 4k miles away will take away your ability to feed yourself. Starve and your children should too because your wrongthink is bad bad.
It's not legal, only the US government is allowed to mint currency and Congress has high authority to regulate currency. Of course, since Congress is run by literal niggers it doesn't seem like that is going to work much anymore.
no you can't make money with a stablecoin, if you missed BTC and are still butthurt about it buy Chainlink. its probably the last x1000 we will see in a long time.
I get if you don't like XRP because of principles or whatever but it's one of the only coins with a real world use case. It's a safe bet that it will grow in value but if you invest in only Bitcoin, ETH, Monero and Link you'll do fine.
>need to have facebook account to buy anything >bible says you need to accept the mark of the beast to buy anything in the end of days >MARK zuckerberg owns a dog named BEAST
They are poor they want a PS5 on the FB market place. Two people are now locked into it to make the transaction when they meet their chips will make the deal. Sorry phone first.
>It can be used to send thousands of transactions across the globe and create records of them Thats not a usecase, any Blockchain plattform can do that.
Big Banks and Big Business will also never ever touch it or use it for their Business. sorry but its without doubt a shitcoin.
>But it's certainly going past 3 dollars soon. So you are just gambling. Thats ok but its important to see the difference between fundamental investing and gambling on shitcoins.
Protip: invest into fundamental things instead, like chainlink.
This is there exit plan out of social media. Facebooks dies soon and crypto will be next project
Yeah I bought plenty of LINK at 40 cents. I'm not buying more at ATH. I'm not selling just in case but you're convincing me that theres a lot of dumb money in LINK seeing as you don't understand XRP or Libra.
>Protip: invest into fundamental things instead, like chainlink.