Facebook admitted that they will collect all payment data from all Libra purchases about all people in Full Detail! (Reddit Bitcoin)

Source:
https://www.coindesk.com/facebook-to-senators-libra-cryptocurrency-will-respect-consumer-privacy

Quote:
Moreover, because the Facebook Payments, Inc. subsidiary processes these transactions, Facebook itself does not have access to any payment credentials information, though it [i.e. Facebook itself] does[!!] collect other information affiliated with a transaction, such as the merchant, the transaction amount, the date and time and the purchased good.

In other words: Facebook will (not only "can" but WILL) completely know about all purchasing details, people will be fully transparent to facebook!

I can't believe that this doesn't cause any outrage. Even the article above is just stating this amongst lots of other text, without any highlighting or special commenting - so it can easily be overseen.

That's why we'll need Bitcoin.

submitted by /u/Amichateur
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