Mark Cuban: Libra is "dangerous" / Libra could aid law enforcement / "Double-edged sword"

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Presented by Subscribe | View in browser Hi everyone, I hope you're all having a wonderful Wednesday so far. We have several newsletters in pre-launch mode we'd like to invite you to subscribe to: Inside Apps Insider Advertising Inside Growth Hacking Inside Influencer Marketing Also, if you have an idea for a newsletter we don't yet have but think we should launch, you can suggest it here. Thanks!       1. American investor Mark Cuban has said that Facebook's proposed Libra stablecoin is "dangerous." The owner the NBA's Dallas Mavericks has become the latest to speak out against the social media's coin. In an interview, he said that he wasn't against cryptocurrency, but he was against Facebook's plan, which is in a position to have an impact on countries that have less stability. Using Africa as an example, Cuban stated that this could lead to people dying due to the influence Facebook's Libra could create on a ruler's "currency manipulation opportunities." –THE VERGE       2. Facebook has admitted that its Libra coin may not be "made available in a timely manner, or at all." In a filing to the U.S. Securities and Exchange Commission (SEC), the social media platform noted that the Libra coin has received negative feedback from regulators worldwide since announcing the project in June. Facebook realizes that market acceptance of Libra is "uncertain," meaning there's "no assurance" that Libra or any products associated with it will be made available by 2020. –CNBC       A MESSAGE FROM AIRBNB Earn money by sharing your space. Millions of travelers stayed in an Airbnb last year. Make up to $4,398/month* by sharing your place in London. Learn more *Estimate based on several factors—check out details. 3. Facebook's Libra could help law enforcement due to the information generated about its users. That's according to David Marcus, head of Facebook's new Calibra payments division. Speaking in front of the U.S. Congress, Marcus said that law enforcement could have access to this information if needed and that it could "improve on the current system." Unlike cash, which is hard to trace, the Libra coin will have transactions made and those who make them recorded. –THE WALL STREET JOURNAL       4. Jeremy Allaire, Circle's CEO, has said that increased attention of Libra is a "double-edged sword" for the crypto space. In his opinion, in the next 10 years, nearly everyone will adopt cryptocurrencies. However, while the potential successful launch of Libra could help to achieve this, increased scrutiny is also being focused on the industry. Allaire also testified in front of the U.S. Congress yesterday to say that crypto assets should be considered a "new asset class." –YAHOO! FINANCE       A MESSAGE FROM TWIT PODCASTS 15 Tech Podcasts Covering Every Angle If you are into tech, check out the TWiT.tv podcasts. We cover the latest innovations, privacy, social media, security, plus reviews of smartphones, laptops, tablets, and wearables. If it has a chip, Leo Laporte and friends have a podcast for it. Find Your Next Favorite Podcast Here   5. Peter Schiff, CEO of Euro Pacific Capital, believes that Facebook's Libra is "superior" to Bitcoin because it would be backed by something. However, he adds that while Libra would be backed by the likes of the euro, the dollar, and the yen, these aren't as reliable as being backed by gold. –THE STREET       6. The New Yorker has published a piece that is highly skeptical of Facebook's Libra project, laying out the many ways it can go wrong for millions of people. The ways in which Libra could be beneficial and profitable to Facebook and millions of merchants around the globe are undeniable, writes Sue Halpern. But the negative impacts it could have on fiat national currencies, on weaker economies, and even on individuals who don't grasp the risks inherent in any cryptocurrency are potentially vast. And she points out that the primary difference between anonymously transacted crypto coins and Libra is the fact that data is a currency now, too, and it's Facebook's currency of choice. "Facebook says that it will not share data between Calibra and Facebook without customer consent. But, historically, consent has offered little protection from Facebook's willingness to exploit users," she writes. – THE NEW YORKER This story first appeared in Inside Social yesterday.       7. The r/libra thread on Reddit continues to gain steam. The channel is currently looking for moderators and has some valuable beginner knowledge about Facebook's potential coin. In particular, user jmxcursi shared this tutorial on Libra and if it should be seen as a friend or foe.       This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter. Editor: David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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