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That scenario falls apart when the global poor don't have any money to buy FB coins, which they don't. Agreements with banks won't give the unbanked the free cash flow to play around with digital money or buy a bunch of stuff online.

I think they whole issue of the unbanked is a ruse. Facebook stands to earn more here by trying to convert regular consumers away from PayPal and debit cards and charge them fees for exchanging in and out of Libra. They'll also invite regulation in crypto so they can be the only one who meets the regulatory requirements and shut out the others. It's an end run around crypto without being one itself.




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