Facebook is the antithesis of everything Satoshi stood for.
Should we, as the crypto community, boycott their effort?
I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.
It wouldn't be the first time that a company had engaged in lobbying and rent-seeking to harm competitors.
All these points are just guesses. Facebook alone cannot ditch the growth of other popular crypto currencies, especially BTC and ETH.
Facebook can dump millions of dollars into lobbying to push other cryptocurrencies and exchanges out of the market.
"Well yes Mr. Senator, we here at Facebook Libracoin track all transactions with KYC... but Bitcoin doesn't and is used for funding terrorism, you should definitely make it illegal to deal in Bitcoin in the US."
Just wait...