When are people going to wake up about Libra?
Libra Is a Scary Thing, People!
Seriously, this is a cryptocurrency being developed by a company that has shown several times it doesn’t care about people’s privacy or well-being. If it can sell your information to third parties and get away with it, it will. This was the case involving Cambridge Analytica. The news was discovered in 2018, but the partnership between the two companies had been going for several years.
Despite this, Libra is garnering “substantial” interest from members of the crypto-going public. So much in fact, that the currency has already surpassed Ethereum, Ripple and Litecoin in terms of general knowledge.
Per a survey conducted by cryptocurrency firm e-Toro, several people were asked to discuss their knowledge of cryptocurrency and a staggering 16 percent already knew what Libra was. This number surpasses that of several other mainstream forms of crypto including Ethereum and Ripple’s XRP.
Guy Hirsch, U.S. managing director of e-Toro, comments:
We believe that crypto and the blockchain technology that underpins it will be essential to tomorrow’s economy. By introducing the concept to a new audience, Libra could play a vital role in the evolution of decentralized and more democratized finance.
The only problem is that Facebook hasn’t shown itself to be democratized. Libra is going to be run by a board of billion-dollar financial companies including Visa, Mastercard and PayPal. How is that for democratized or even decentralized?
The one piece of hope we can hang onto is that bitcoin garnered 54 percent in the survey, meaning it’s still the king. More people have heard of bitcoin than any other cryptocurrency, and it could be the one card we have to pay against Libra and the still incomprehensible agenda behind it.
People Aren’t Thinking Enough About What’s Going On
How can people show “substantial” interest in a currency being developed by a company that has put profit ahead of people’s well-being so many times? This leads to many other questions, such as, “Why are people still continuing to use Facebook in the first place?” Wasn’t the Senate grilling of Mark Zuckerberg last year enough to convince them that this is a dark enterprise set on taking all it can from its users?
The problem is that people just aren’t thinking enough. Everyone complains about what happens or how things are, yet they refuse to do anything different to ensure these problems change. Americans, for example, complain that the costs of universities are too high, yet students continue to accept loans like nothing and attend as if on “auto-pilot” status. If students suddenly decided they weren’t going to attend until costs were lowered and they all stuck to this plan, colleges would have no choice but to change themselves. Otherwise, they would garner no attendees and no profits.
The post Libra Is Already More Well-Known Than Most Mainstream Crypto appeared first on Live Bitcoin News.
Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.
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