Facebook attempting a currency launch... Yikes!

Beerus

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I don't know how many people are aware of Libra. Places like Mastercard, Visa, Paypal and the like are backing them to start their own currency. This is bad news bears. Google and Facebook having as much power as they do on the internet is a problem... Allowing one of them to then have their own currency will spell out disaster.

I am not on Facebook and with all the privacy invasions and scandals happening, I am glad I'm not. While some people are aware of these two companies having all this power, I would venture to say most don't know what is going on because politically speaking, it is hardly ever addressed and news outlets are only just now covering it.

What are your thoughts on this?
 

India Actual

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Absolute power corrupts absolutely. I'm all for the free market and competition breeds high quality products, but when you monopolize everything and view yourself a some form of internet deity, me thinks it's high time someone at the very least takes a look at your business practices.
 
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Beerus

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Absolute power corrupts absolutely. I'm all for the free market and competition breeds high quality products, but when you monopolize everything and view yourself a some form of internet deity, me thinks it's high time someone at the very least takes a look at your business practices.
I think more people need to call for breaking them corporations up. I mean not too long ago we had options for things online but they took over so much online territory, not even someone with a lot of money can counter them. Like if you want to make videos you have to use YouTube if you want it to become a career. There are no alternatives to it. It was kind of like that with Skype for awhile, people had to use them for gaming and general chit chat but Discord was able to come up and add features that eventually enabled people like me to have a choice and I chose them.

If we don't have choices online, we ultimately start losing freedom because power can easily turn corrupt.
 
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India Actual

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I think more people need to call for breaking them corporations up. I mean not too long ago we had options for things online but they took over so much online territory, not even someone with a lot of money can counter them. Like if you want to make videos you have to use YouTube if you want it to become a career. There are no alternatives to it. It was kind of like that with Skype for awhile, people had to use them for gaming and general chit chat but Discord was able to come up and add features that eventually enabled people like me to have a choice and I chose them.

If we don't have choices online, we ultimately start losing freedom because power can easily turn corrupt.
I'm more hawkish about the government doing things that you describe because I work for them and they're so far removed from the hyperbole of being "special needs" that it's like walking around with a constant face palm, but people forget that the private sector can be just as guilty. Anyone who tries to take freedoms from people should be dealt with a swift kick to their respective genitalia, figuratively speaking of course.
 
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Beerus

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I'm more hawkish about the government doing things that you describe because I work for them and they're so far removed from the hyperbole of being "special needs" that it's like walking around with a constant face palm, but people forget that the private sector can be just as guilty. Anyone who tries to take freedoms from people should be dealt with a swift kick to their respective genitalia, figuratively speaking of course.
Two things are known for changing people for the worse and that is money and power.

I think it is in all of us to have a desire for power and control but most people don't act it out or take pleasure in putting people beneath them.
 
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India Actual

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Two things are known for changing people for the worse and that is money and power.

I think it is in all of us to have a desire for power and control but most people don't act it out or take pleasure in putting people beneath them.

Not acting on that desire is what separates us from the sociopaths.
 
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Super Kami Guru

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I'm opposed to anything that further centralizes the internet. Decentralization of the internet is a great thing, and while I openly admit that I'm a bit of a hypocrite in that regard as I still have an Amazon Prime account, watch videos on YouTube and have a gmail account for most of my email purposes, I strongly support opportunities outside of the centralized massed entities that takes up so much of the internet's collective traffic. You're absolutely right in saying that if the internet continues to give power to these centralized, singular-minded corporations rather than supporting alternatives and learning to branch out into areas that they might otherwise try then it's the people and open market that suffers in the end, because the people come to accept the restrictive choices those corporations make rather than standing against them or using another service that doesn't restrict them.

Facebook even trying to launch a currency is bad news for everyone, and worse if it manages to succeed. Leave it well enough alone, Facebook, you've done enough damage already.
 

India Actual

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Anyone think it's possible to create competition or are they too firmly rooted in convenience that no one will abandon them no matter what they do?
 

Super Kami Guru

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Agreed, competition gets snuffed out unless it gets serious traction very quickly. Get the younger generation on board, you're basically golden, but starting up against the big boys is going to take serious investment and serious resources or they'll just die a quick death.
 
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