Post
Topic
Board Altcoin Discussion
Re: Facebook's Libra vs Telegram's TON
by
dotherightthing
on 15/07/2019, 23:33:26 UTC
Facebook's LIBRA will be fully centralized, atleast for the first 5 years, at which they claim they will "transition" to a permissionless node system. So guess what, the only people who will run nodes are facebook and its partners which i've listed below:

Payments: Mastercard, Mercado Pago, PayPal, PayU (Naspers’ fintech arm), Stripe, Visa
Technology and marketplaces: Booking Holdings, eBay, Facebook/Calibra, Farfetch, Lyft, Spotify AB, Uber Technologies, Inc.
Telecommunications: Iliad, Vodafone Group
Blockchain: Anchorage, Bison Trails, Coinbase, Inc., Xapo Holdings Limited
Venture Capital: Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures
Nonprofit and multilateral organizations, and academic institutions: Creative Destruction Lab, Kiva, Mercy Corps, Women’s World Banking

Crypto people should be very firmly against LIBRA, as this will basically be all of the aforementioned companies getting rich by doing all the mining. any users buying into this system are only making the rich even richer, by trading their real FIAT in exchange for Vapor tokens from Facebook and its cronies.