Why Facebook’s Libra Cryptocurrency Is In Trouble
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- Опубліковано 24 жов 2019
- When Facebook first announced it was getting into the crypto business-with a basically unregulated currency called Libra-the reaction from Wall Street and government bankers was about as expected. Fast-foward a few months, and Libra is in trouble. The social media giant had lined up a long list of corporate backers for the initiative, including major players in the payments space. And in October 2019, several prominent backers began to back out. Here’s how Facebook’s crypto future got into serious trouble.
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Why Facebook’s Libra Cryptocurrency Is In Trouble
When you try to challenge the existing finance industry.
soo true
He wasnt challenging it, he was buying in. Libra was going to be backrmed by hard cash and not be truely transparent. Its hardly a cryptocurrency
You think you can’t trust the finance industry but you can trust Facebook?
I expect that an online currency similar to Libra will likely develop soon, and part of me thinks it might be the big banks banding together to create it.
Bitcoin -cant be stopped
Zuck has the same haircut as Lloyd from Dumb & Dumber
He has that villian look lol
When ur a multi billionaire u can have any haircut u want
😂😂😂😂 this made my day
@Idylchatter lol
His a pretty evil looking dude
“ only Facebook has access to 2 billion people”
NSA: “oh now we feel left out “
Lul true
NSA has access to Facebook and Google
Anonymous exactly, they are making it seem like Facebook has forbidden information that no one else has access to
bitcoin to every human. you dont even need internet..
theoneandonlyworldruler shoot if every human had bitcoin you wouldn’t need the fed and the government would be a lot smaller and easier to fund
You know what other currency terrorists and drug dealers use most?
Dollars.
You know who backed 9/11 then
Yeah smart guy, and if Libra was as common, stable and powerful as the Dollar they would use Libra instead.
because USD is most useful in world. you want to use peso instead? lol
@@Blaze6108 the dollar is only as powerful as oil allows it to be.
And specifically it’s actually bank accounts over cash.
As a Libra... I’m ashamed
hahaha
Don't be.
@@sitlyfeniase3742 you should be ashamed of believing the mind numbing brain washing abdomination that is the horoscopes
If it brings U any comfort......
I'm Cancer, not told which type thou.
Good thing I am a Leo.
Zuckerberg said "people trust us" with a straight face 😂
he would yawn with a straight face.
So many users still using Facebook even after allegations means people trust Facebook
well it true 2 billion active users
Most don't. A lot of Facebook users still use Facebook because they are addicted to the dopamine social media agenda. Sad truth
@@edgewrld Tbh, I have Facebook but I don't trust them. It's one of the reasons hardly post anything personal on it.
i'm just annoyed that they use the symbol for Aquarius rather than Libra's zodiac symbol.
not when they made a clone to replace you ...
Millions don't come to FB for trust. They come to check their ex’s life.
😂😂😂
Billions*
ok so in the future, they will come to empty their ex´s libra´s account
How can anyone link social media platforms with trust. It's a views and likes driven vorld. Come on
In businesses, emotions are great target
Facebook's motto for years was "move fast and break things". Yeah that's who I want controlling a currency.
sorry,but you are outdated, like a prehistoric ancient man,
facebook new motto is "Move Fast And Please Please Please Don't Break Anything"
you can check it on google
@@jensenraylight8011 you got me, guilty as charged. I don't even have a Instagram account so I think that qualifies me as a certified Luddite!
Well they're breaking norms.
whats wrong with trying to get into the banking industry that has been controlled by the same group of familes for 1200 years?
Synecdoche Difference here is that Facebook isn’t opening a bank, it’s trying to launch a new currency that relies on PRIVATE SOCIAL MEDIA ACCOUNT. The last thing we need now in today’s capitalism is a private organisation owning the currency. And Facebook doesn’t really have a clean slate when it comes to selling user data or getting hacked. Really hard to trust them.
"We don't like crypto"- A bunch of billionaires and bankers who have somthing to lose if it goes mainstream.
And you think Facebook is the one that will fix that?
I love how you actually believe that Libra is about helping mainstream and the under-banked population of the world...
@@damondziewiontkowski5623 No. It's about starting it. Competing currencies should exist. Central banking dominance needs to be challenged.
@@gnryushi it already has been, by many others.
Facebook book will do everything in its power to stop anyone with actual good intentions just to continue its own nefarious goals. If you can't see that, I don't know what to say.
@@gnryushi so u want the rich to control your money, lol?
Off corse the banks don't want to loose the money monopoly
if we would use just bitcoin they could make nothing and lose all. we dont need banks anymore. bitcoin solve everything but you people dont get it... we could be so much more free.
@@theoneandonlyworldruler418 You're right about the future of money. However, we need a better crypto currency than bitcoin that doesn't constantly change in price. For all intents and purposes owning bitcoin at this point is closer to owning a stock with the fluctuations it has than a bank account.
blendergaming bitcoin just need time to find the price. When we reach much higher levels the volatility is less.
@@theoneandonlyworldruler418 Nah if something is solid it dosnt need time. Gold was solid from the start and still is. Something else is needed Bitcoin is not it
@@xgoosey so the gold price is the same since thousands of year? no sense. also gold price is changing. just not so much anymore. but still everyday its other price :) in the start was also more. thats normal.
So Facebook just has to buy land, declare independence and have libra as the national currency, or find some independent state that would agree to switching the national currency to libra
Or they can easily buy an island to make it a new country.
The solution is clear: Facebook needs to buy a small country.
Start with Zimbabwe 😅
Buy Nepal...it sucks
need to buy a country with nuclear weapon.
I hope they buy mine. It can’t get worse anyway over here.
Free Tibet- ok, BUY Tibet.
Why does he look so old? I know he's in his 30s. He must be stressed out.
zuck wa ningen janai
zuck is not human
well, if i was the one who sit on that chair, i probably will be aging quickly too,
Autumn Sunsets he’s 40
@@Solid_Snake88 Born: May 14, 1984 (age 35 years)
When you steal everyone's information and it's not enough so you try to steal the monetary system
so.ur the idiot that made an account lol
The future looks so damn complicated now wtf.
it doesn't.
Just buy bitcoin - disregard data miners
@@parteuy3434 just buy air and get rekt. GOOD ADVICE.
You biased youtube financial expert.
ThoughtlessTuber yeah you’re right there is definitely no need for an open source, peer to peer, decentralized, unseizable, uncensorable, borderless digital currency that can be transacted, bought, sold, and moved at the speed of the internet which transcends government regulations AND has first mover advantage by far, how could someone possibly think bitcoin is a good idea right?
@@jayfinne626 except you can't use Rule-of-law of the land with bitcoin unless government back the currency. It is used to solve dispute if something happen.
it's like online-shopping without website that allow you to give rating, comment, dispute.... basically no legitimate enforcer.
It's funny you have Bitcoin and other crypto's and the US government is like "We think Libra is risky" what they really mean is "You are challenging our legacy banking system" Zuckerberg is learning a hard lesson in centralization.
yea these fools do not understand what constitutes to a state and the sovereighnty of it. betting between the state and a corporation, I would put my money on the state
Yes, further than that, even. Libra is purportedly trying to challenge the USA's currency supremacy in the world. Think they're going to take that lying down? If the dollar goes down, so does the American economy. Wars have started over much less.
@@joesterling4299exactly no country or state is dumb enough to lose its power or soveighnty let alone giving it away in a form that no one can control.
0wninguplz
Libra could be controlled, but not by them.
It's pretty bad when you can trust the US Government more than you can trust Facebook.
The idea of a private corporation controlling a currency that:
#1: Most don't understand the science behind it (myself included)
#2: Could rival (and beat!) government backed currencies
#3: Is used to fuel a company already being scrutinized for how it disrupts nations
is incredible terrifying. I'll admit that I don't know enough to determine whether crypto-currency is going to be the way forward or not. But, I do know enough that I don't want a company (especially Facebook) to gain control of our financial institutions and have its way with them!
But the point is you want competition in the currency space. We see how bad the Fed has managed USD. We see how bad countries (Venezuela) have destroyed their currency and thus their civilizations. Competing currencies force issuers to be more transparent.
kinda agree.
Currency should be for the people from the people. Not controlled by any government or corporations. Just like church and state should be two seperate things, so should currency. Otherwise it gives too much power to entities to create war as they see fit to gain more control. Look at any past empire to even now with large government
OtG - it's no more terrifying than the Federal Reserve (a US Private Corporation) having control of the US Dollar, the world's only reserve currency. It's no more terrifying than the US-OPEC agreement regarding the Petro-dollar.
Libra currency represents direct competition to the US Dollar and in some cases to the Euro.
The real problem is that national currencies are created and owned by private corporations in most developed nations. So, the issue is a fiat currency has no tangible value and can be easily manipulated. A crypto-currency can only be manipulated at the start. As time move forward, the "owners" of the currency will lose that ownership as others "buy" the coin. It means the US Govt via the Federal Reserve will not be able to create $BB out of thin air when it's politically convenient.
@Jack Sparrow - First, Libra was designed to not be controlled by fb. It was designed to be initiated by 100 existing companies that already have a large digital infrastructure. So, your fear about fb controlling the world's currency does not hold water.
Second, the US Dollar is issued by the Federal Reserve (a private bank), not by the US Govt. The cabal known as the multinational private banking industry, controlled in large part by Wall St banks, controls the US Dollar. They are not concerned with your political views because you have no power, either politically or financially. Now, Zuckerberg's cryptocurrency actual does have both political and financial power, and that REALLY scares them. So, they called their duly owned congress-critters and began applying pressure against Libra.
Libra may die, but a global crypto currencies will come about, most like from China and India. The US and Europe will be left out cold.
"Permit me to issue and control the money of a nation, and I care not who makes its laws.”
- Nathan Mayer Rothschild -
Zuckerberg is asking for permission and the FEDs already know what it is...
There is the basic premise for the foundation of the Federal Reserve, a brilliant euphemism for it is private cabal and has fuckall reserves!!
other definition of slavery
the FED is the worst thing that has ever happened to the world
Except no country controls their own currency today the federal reserves do.
@@Koushi82 yeah but American Fed led the way to this destructive and unsustainable form of capitalism and is the biggest contributor due to the global reserve currency being USD
I only use fb to look at memes and as a way to remember ppls' bdays lol
I hate how many times they repeat the same thing to seem like they’re saying more or just meet a requirement, it makes me feel like I’m 5
That is how indoctrination works, repeat multiple times, thus making the subject accepting the given statements without the need to provide evidence.
It's a dilemma. If the video was much more in depth and genuinely educational by purpose, then we could just use the information to form our own opinions. Of course there are going to be people that are going to 1. get bored or 2. interpret the facts incorrectly (hence the repeating). I go back on my comment. Journalism is hard
everyone is scared because if it succeeds then the others are done
Exactly
@swave158
You obviously have no clue what you're talking about.
swave158 your stupid
Agree with swave
swave158 why do you keep saying LOL at the end of every sentence. You make me not wanna believe you
3:00 All that money and intelligence. You'd think he'd be smart enough and rich enough to find the right barber.
The reporter was able to calmly deliver this news despite the fact that it is an intense one. Amazing!
You know you are watching a serious channel when nobody comments "First comment!"
you're right
Second!!!
Pudgee Monkey 🤣
Also the "2019!? 2019!?"
First comment!!!!!!!!
I dont think I can trust facebook with my money, considering how often my friends account got hacked
well if its always the same guy getting hacked, he probably needs a better password.
It is rather unlikely that they got "hacked" in the sense of breaching facebook's systems. They probably used simple passwords, reused their passwords across multiple services or fell victim to some social engineering. In other words, it was probably your friend's own fault, not facebook's.
Rischard my friend changed account 4 times in 2 month because a wierd stalker hacked her account continuously. That is scary.
domsson you are right, but it is risky. I can be risky with my dog vids on facebook, but not with my money. If it actually works and be stable for like 2 years, maybe I’ll join
you cant trust the American government either
"No private entity can claim monetary policy, which is inherent to the sovereignty of nations" 9:51
@Two Natal Yods LOL
The dollar is owned by private banks already. So all I'm seeing here is that they're scared Facebook and other new private businesses could compete 🤣
jeeper JL yeah our government doesn’t like competition
They're scared because they (the central banks) are becoming obsolete.
Libra's mistake was not sponsoring senators with love, I mean $$$$$$$$$$.
WRO Wall Street already got their hands in those pockets.
Ok Jamie Dimon, but you thought WeWork was worth $100B so....
That bookshelf at 6:00 gives me anxiety
Those robotic lifeless eyes tho, they never fail to terrify me, honestly.
Eyes are the window to the soul ... It's like staring into the abyss.
Musk has that weird look too. 🤔
Libra: literally putting a price on your personal information
Wow. Did you even watch the video?
@@B4R0N. this is like buying heroin with GambinoCoins
@shin chan they are already via third party.
You dont own your data,company which holds your data owns it which just happens to own you beacuse data is you but hey thats just a consequence of this,right who cares as long as they are legal.now you see how they legaly manipulate it.read license agreements online more often..
At any given point in time they can revoke that same data to any authority without your consent.
Lmao. I guess China will build better currencies...they make everything else...
9:27 “Zuck Buck” lol
Lmao
Just noticed it
His face on that dollar bill is a joke
hahahahah xD
What's the ratio to that of a Schrute buck?
Mark Zuckerburg looks like a robot more than a human being.
With his money, you'd think he could afford a better haircut.
he has a remote , " they " control him
You think maybe he has work done on his face
And he probably is.
I have challenged myself to put away 50% of my monthly income into dividend stocks which is quite easy since I live frugal at 32 without debt. I work as an account executive, and make over $2000. $1000 goes into dividends, and the other $1000 covers my my food plus living expenses. I am seeing improvements in my portfolio, dividends look certain, but I have to attribute this to only to guidance of a licensed fund manager who allocates funds to a plethora of assets. I have to stay disciplined, and remember that I’m in it for the long term. Good luck to everyone and thanks for the great video.
I have seen a lot of investing channels but still can’t wrap my head around it. I need an impartial investment advisor. I know they are there I don’t just know a legit sourced. How can I reach the broker you were assigned?
Sharing his details here on the comment
section might be a bit cringe but since you really want it, reach him *Alecpayden (a) g ma il. Com...* Came across him at an investment webinar. You can get all the information you need, just leave him a message.
I have come across countless recommendations, never knew he offered such services.
Thanks for pointing this out. I usually skip past those since everyone can tell a spam. I also wrote him. How quickly does he respond? I will be patient though. Also, have you made any significant profit so far?
I have made over $25,000 from profits during the pandemic, more so because I was reinvesting every two weeks. His strategies cuts across major financial markets which cuts across major financial markets which I found generates more profit.
Saying "billions of people Trust Facebook" is like Saying "billions of People Trust Alcohol"🙄
but they do though, so this comment is kinda dumb.
Which is true, by the way...
@@razorskater15 you're dumb if you trust facebook
Gilbert great comeback sir, now show me where I said that I trust them because I’m a bit confused here.
I'd much rather trusting facebook than the US government
The moment the JP Morgan CEO said it wasn’t gonna work made me automatically want to put funds into it
Brother.
So U.K. consort Elon Musk gets to make crypto currency but
American entrepreneur
Mark Zuckerberg doesn't?
I don’t think you all understand how powerful Facebook would become. It already has everyone’s information and now you want to give them all your transactions? He would be god. You are simpletons.
That’ll teach em, putting my life in the hands of one billionaire over another, truly I’m making the right decision here
@@michaelcharlesthearchangel U.K. consort? He's South African and has F all to do with UK. Pull your head out of your a** and see the world around you.
@@REVOLTbydesign What about all those people that log in....I mean wow it would be great wouldn't it??????
Because they can't control it :')
You can't peg a currency to another currency. That was what caused Black Wednesday in the UK. The value of the currency unit has to float.
I don't trust this new Libra currency; I think i'll stick with Sagittarius!😝
lol
Hmm, smells a bit Pisces to me. 😉
😎Nice one Archer.
Same 💜
Haha I’ll stick with Aries 😂
9:27 OMG "Zuck Buck" , the United world of Facebook LMAO
Zuck World
5:17 my boi talking about credibility with a can of chunky sirloin and Hormel beans with 2 bottles of whiskey on his desk
The more I look and listen to this guy, the more he looks soulless to me.
@Obi Dark the government is trying to stop libra. What the hell are you talking about?? This is another bitcoin just less dodgy and more commercial
They would still know when you took your last dump.. least bitcoin is private decentralised when someone er lse is in control ya always vulnerable to greed and corruption of others.. yeah human nature
X-Dex I’m betting on it! Buying all shares bc he isn’t releasing untie is eye to eye with the government so trust me it will happen
wasn't expecting this to turn into an ad for libra. Someone with some sway at CNBC stands to benefit
When you realize that facebook can utterly de-platform CNBC in a minute.
10:01 says Paypal exited early October 2019 but the slide says October 4 2018
@Luna Saito of 2018?
Luna Saito 2018 vs. 2019. Likely a typo
@Luna Saito You have a hard time understanding simple things shown by the comment "October 4th qualifies as early October", not understanding the context of it being written out to be in the year 2018. You lack the brain power to execute simple reading comprehension skills. Then you rage and try to insult when others have to explain to you this simple context, no need to be so butt hurt over someone pointing out a slide typo.
I think PayPal is enough to threaten the banks, and no more than this
Is it just me or is he starting to look more and more like Data from Start Trek?
Everytime I try to read Zuckerberg's response to regulars I feel like he actually have no idea what is his company is doing.
yokel386 I was thinking the same. Glorified spokesperson at this point
He comes off like the most unprepared and unintelligent person to set foot in business. He gets eaten alive in every state hearing he attends, falling for their baited comments and questions.
Well he did steal the idea from a friend. Probably stole other ideas and made it his too just not as well thought out.
He doesn’t. A company that big, no CEO does. Even the company that is reading this very comment. However these companies have artificial intelligence that scrubs the internet and media to determine how everyone is feeling and saying about any specific topic and can predict what you will approve on. So him going for libra this hard is only an indication that we as idiots already will accept this new form of currency.
that's good. A good leader delegates as much as possible and just tries to vaguely guide the company and think of the future
J P Morgan.. Laughed at everything that could potentially help humans.
JP Morgan is already involved in the crypto world. libra wont help anybody. there are other options. he's scolding them because he wants to buy up as much bags as possible before the next bear market.
Like facebook? sure...
No private entity can claim monetary policy?
Isn’t the fed and most central banks private entities?
Only in USA mate. Everywhere else (ok, my bad: in Europe) central banks are under the control of the government with no influence from private entities.
@@JerzyFeliksKlein Italy's is mostly private. Check their website.
6:30 who's laptop is that lmao
Jonathan Duenas some dusty ass pc fortnite player
Its like directly using your Mutual fund amount for purchasing goods without withdrawing and waiting time, It will be similar to bank, only that libra will provide high/low interest every second. One have to use the central bank currencies to deposit, there is no competition in it.
Translation: We're terrified because Facebook will change our existing financial institutions 😂
Which is very important. Well-managed monetary policy has given the developed world a high degree of monetary stability and almost certainly made the Great Recession way, way shorter and shallower than it otherwise would have been.
Tierre Jevon Facebook won’t change anything, libras value is too volatile and is entirely benchmarked by USD
@@Deathmastertx recessions can only happen due to economic policy.
Do you really want Facebook in charge?
@@Deathmastertx Our monetary policy is not well managed and is the reason why the Great Recession even happened.
"No private entity can claim monetary policy " . Central banks are private.
exactly, federal reserve is owned by the biggest banks in USA (each owning 5-10%) and those big banks are owned by private people, so basically federal reserve is owned by private people.
@@darkorbitpro1 yes it is and that is why I found that statement interesting
Emilthehun that's oversimplifying it. They are way more govt involved then most private banks
@@jamesoleary2476 I'm sorry but no. A central bank is an independent national authority that conducts monetary policy, regulates banks, and provides financial services including economic research. Its goals are to stabilize the nation's currency, keep unemployment low, and prevent inflation.
Jj O,leary in most countries the central banks are controlled by the state/government, but the FED in the US is private i believe
Have tried using paypal with facebook, it caused me headache. Facebook just wants to be everywhere and thats too much.
Gold: “oh great....another currency....”
Devil: “oh great another currency. So when will be mine works for all nations?”
"cryptocurrencies such as bitcoin have been exploited to support billions of dollars to support illicit activity."
Yeah right, and what about the dollar and euro notes? The dollar is the most used currency for illicit activity, please do your research.
Yeah, but that low key benefits the US Treasury. If Libra takes the place the dollar once held, they'd also be raking the benefits of a strong currency and the US won't like that.
@@LouisSubearth yeah the leaders of the world want to control the one source to control everyone, which is money, cryptocurrencies are a threat to the big players
You know its almost imposible to track cryptocurrency and its a lot easyer to track normal currency idiot please do your damn research
@@dhgfhhhghhj bro everything is recorded on the bitcoin blockchain, you can literraly see every transaction. Can yoy see the cash transactions from pablo escobar? All the billions in black paper money?
Please do your own research bro
government and rich people are threatened by a currency that gives power to the people? I'm utterly shocked.
10:01
Date shows as “October 4, 2018”, but it should be “2019”
I missed the part where that's my problem
Jack Ma seems to be keeping an eye on Zuck . The resemblance is striking .
Madhukar Reddy jack ma is waiting for Facebook to be split up so he can come right in.
@@Edventureshow That is what the Senate wants since they are getting too big and social media has become very important case in point the Election of Trump and Modi as well ( thats a diff thing though) . But you gotta remember that this is no Standard Oil and this is not 1900's
@m t Agreed man, he was first to the field and the Communist party backed him since he was the winning guy . He is more of a Dhandha guy found an opportunity and exploited it (no mean feat in itself but he pales in comparison to Elon) , Elon is a Tech Genius who BY THE WAY also happens to be a business man .
People shouldn't even trust Facebook. Why would people trust it with a currency? 😂
And yet, we trust the governement with it. Smh.
@@thisguy6998 you can elect government but not Facebook head.
True. Facebook has always been trickily intrusive. The way they’ve been sharing private info of the account user without his/her explicit permission (they were set as default for so long and behind users’ backs) was reason enough for me to never ever trust such a ‘cheap’ web/social media site. Let alone now with anything related to personal finances.
At 2:12 you said “house financial services committee” that is the SENATE financial services committee
Man, October 2019 was HOT!
Old congressmen deciding tech future is ironic.
I would trust that congressman rather than the lizard man
@@vishalgiraddi5357 true but congressmen are not idol either, don't forget about corporate lobbying. Crypto has potential to replace whole financial institutions so there is lobbying attached to it. My opinion!
Anirudh Gokhale Get out and vote. The average congressman is 65 years old. Young people should be the ones deciding the future. Not corrupt morons that don’t have more than 10 years left.
I don’t like Zuckerberg but he is coherent in what he states even if he stutters he really knows what he is talking about.
WHAT, is there people who dont trust Facebook?
Great objective summary
The Z U C C wants to control my dollars when I don’t even have a facialtome
nobody want dollar. dollar is dead soon. its only paper without value.
His mistake is trying to start on a global scale. Should have started it as a low key project and deployed a small pilot scheme and let it grow organically with guidance and support.
The Power of Zen i think even then the government would know where they want to go with it. They keep a close watch on Facebook. Brute force is the only option. I think it's gonna be done sooner or later. Libra will come to life and it will have a big impact.
Remember when famous people laughed at the idea of something new before but has now reshaped humanity? Yeah
Which particular idea are you talking about?
So it’s like a bank but with a bunch of unneeded steps and Facebook would control it?
Unneeded step number one - creat a Facebook account. Then, be an active user.
9:53 I wonder what they have to say about the federal Reserve
We can't have crypto currency going against the established banks now can we.
No we can't have Mark Zuckerberg going against established banks (having more power than them).
You know a product has potential when bankers oppose it fiercely
Or a pyramid scheme to fool everyone and distract them from the real deal. No FDIC insured, no government backup, no collateral.
An Alien from outer space you mean government backup and printing more of it out of thin air at will?
@@analienfromouterspace hahah please define a pyramid scheme and how it can be run on libra????
crypto currency doesnt work like that
You know a product has zero potential when the people who know the most about investment leave
longest free add for Libra ever
Typo at 10:02 wrong year in date: October 4, 2019 not 2018
He's going to give a lot to both parties to suceed..."
He has to ask himself is it worth it..."
Pyrrhic victory..."
What a shameful Display!
I say pyrric victory's are always worth it bc it's not about the money, it's about sending a message
Chuckie Cheese tokens are a better investment than Libra.
Satoshi Squanderer totally agree. XRP ALLLLLLLLLL THE WAY BABY. Superior technology
Oh man LMFAO!😅
😂😂😂
The butt spanking applied to Zuck at 7:33 is the coolest thing I have seen on any screen, evet.
Mark Zuckerberg: People trust us
The world : NO NO NO
They’re trying to be like Wechat.
Wechat is not doing anything funny with currency, is it? It's like paypal but with camera and QR code instead of email. Such a small seemingly insignificant improvement ...
1:54 hahaha russian hackers. gets me every time :D
if i understand correctly
We can see how much Libra was sent and to whom ?
So what is the problem
The problem is that the US governement will lose control over the traditional banking system. Libra certainly looks promising regardless of the illegal activities risk but it does more harm than good in general.
"Millions who trust facebook" = BIG mistake!
TBH, you have much more to worry about from your own US Government. A lot of people would choose Facebook over the Fed or other central banks.
Why? Because people are Facebook's clients, and if the client is unhappy, the company goes bust. This relationship is unlike that with governments/central banks: these entities don't give a finger what their own electorate/stakeholders want. They can do as they please for centuries and billions of people have no mean to stop/bust them.
7:47 my guy nearly broke a tear
Nah that’s just zucc, he has no emotions, he has no fear, he only executes
The issues with libra is that it trying to centralised cryptocurrency and putting too much power in the hand of Facebook.
Watched optimus video on Libra and o boy they will have so much power!
Crazy
The federal reserve doesn't want competition.
Where is the free market?! 😂😂😂
@mnemonic Max
It has ALWAYS been this way!! 😂😂😂
The existence of the federal reserve itself is undemocratic and uncapitalistic..
Also, democracy cannot exist because of the sheep masses.
Controlled Capitalism and controlled democracy have always been the way (rightfully so).
If you want to change the system, you must do so from the inside!! 😂😂😂
Zuck thinks he is Spartacus, and wants to challenge the rulers of the world themselves without a push back!! What an idiot!! 😂😂😂 They may dissappear him!!! 😂😂😂😂
U think it will be a free market wen private companys own a currency😂
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Well. It's a something of value (good) that has customers.
You seem to have forgotten that paper currency was originally gold coins.
The whole ForEX is built on this.
What's your point?!!
You are either a top tier world ruler/economist/billionaire or a common idiot!! 😂😂😂
Sorry, I didn't want to make fun of you, but I couldn't help it!! 😂😂😂
Make it a USD backup Currency, Then see the magic.
Amazing video CNBC :]
When you want to fight something using the strength of his opponent
And what will happend when the backed currency collaps?
Victor then the world will be collapse,because every countries foreign Reserves tie to that backed currency
Just one beast trying to take control of the pawns from another beast.
Thank
10:02 says "2018" instead of "2019" fire that editor
The date when PayPal left should be Oct 2019 not Oct 2018
if it would try to regulate how btc operates, that'd be a fork - it's that they have huge amounts of man power to waste huge amounts of time
May i ask what are the business/marketing implication of this issue? Just what to know your ideas. Thanks😁
Great video!!!