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.
In my opinion, since Libra will still be a cryptocurrency, any lobbying laws that will contribute to its promotion will also contribute to the development of a common cryptocurrency. Moreover, Libra will in any case have to interact with other types of cryptocurrencies.
I dont think we should do anything about this Facebook coin. Now the G-7 countries have sharply opposed its use, even if they decide its fate. I have a very big doubt that Libra will ever be released at all.