Judd Legum

@JuddLegum ↗

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Last Checked Feb. 20, 2020

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Wed Jun 19 13:31:47 +0000 2019

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Judd Legum @JuddLegum

5. Facebook claims this isn't a power grab because Libra is operated through a foundation that it (eventually) will not control. But Facebook created this foundation and designed the currency - all to benefit Facebook - before any partners were brought in https://t.co/vFww76Jp6l — PolitiTweet.org

Posted June 19, 2019 Hibernated

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Judd Legum @JuddLegum

4. Facebook describes the system as "decentralized" and based on "blockchain." But it is not decentralized. To participate, you need approval from the entity Facebook created (and still controls) It does not use "blocks" or "chains." It's just marketing https://t.co/vFww76Jp6l — PolitiTweet.org

Posted June 19, 2019 Hibernated

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Judd Legum @JuddLegum

6. Facebook also created a subsidiary, Calibra, that will collect all the data about people's financial transactions It says it won't share the data with itself without the customer's "permission" Translation: It can use the data for ad targeting https://t.co/vFww76Jp6l — PolitiTweet.org

Posted June 19, 2019 Hibernated