1/ #Facebook released their #Libra #cryptocurrency whitepaper today. This is a stable coin governed by a Foundation that is comprised of a handful of the world’s largest corporations

2/ The currency will run on the Libra #blockchain and coins will be backed by assets consisting of bank deposits and government securities that will be issued by the Libra Reserve whose members each invested a minimum of $10M to run a validator node

3/ This pseudo #decentralization is not being brought into the world to ‘empower billions of people’ or ‘help people everywhere live better lives’ as Facebook suggest

4/ This is #SurveillanceCapitalism at its finest and is designed to provide #Facebook even more data from their 2.7 billion combined users

5/ Users who understand the power of properly #decentralized and #permissionless currencies will run a mile from Libra, but it could be a net positive for the real #crypto community as it brings resources into our industry #MAID #Bitcoin

6/ Remember Cambridge Analytica! You can’t trust #Facebook with your data, why trust them with your money...