Comparing Steem To Facebook’s Blockchain Libra With Andrarchy

in #dtube2 years ago (edited)

In this video Andrew Levine who is the Head of Communications at Steemit Inc. on the Steem blockchain who is also known on Steemit as @Andrarchy explains why Facebook's Libra blockchain won't hinder their efforts to build an amazing social platform on the blockchain, but rather that it will help amplify their efforts with the amount of awareness and hype it will generate.

I will make another video soon to dive into the Libra blockchain and what it really is!

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@andrarchy .... Andy pls.
Ive listened to this and ive been watching the twitter feed. Loved your work lately but heres something i think you should focus on. People might see @ned as "the man" or the 2 women right now in charge (i apologize i dont remember their names) but the truth is that youre the Voice of Steemit.

A suggestion.... Stop dissing LIBRA. (Or at least diss it but reach out to them)

Crypto is bullshit right now. MCs dont make sense. Tech isnt properly evaluated. Theres nepotism, corruption, lies yadda yadda yadda. We can talk about decentralization, privacy whatever...

There is no one you can lobby to. There is no one you can convince that STEEM>LIBRA, or STEEM>EOS or STEEM>BITCOIN.

Selling vapid crypto dogma to the echo chamber STEEM community is pointless.
Have your beliefs, picket for Julian Assange, send Hillary to jail.... but youre the voice of Steemit right now and you have to realize the opportunity youre in.

Ill just go and say it... Hide it, dont admit it, deny it but for the love of god reach out to facebook. Youre the head of marketing for the leading crypto social media platform, you have insider knowledge, you have experience. @ned reached out to JustinTron on twitter and looked silly because Justin doesnt give a damn... But Facebook just might.

Dont jump on the bandwagon because the bandwagon carries LTC, BTC, EOS, TRX, CARDANO.... and the bandwagon doesnt give a damn about some silly STEEM fighting the fight for them...

Blockchain was NOT invented to be run by the bankster kartell, it was the opposite, direct P2P deals without any middleman. LIBRA GO AND F URSELF !!

Well thats the dogma im talking about. While youre spreading what crypto should be about speculators are filling up their pockets.
Mainstream doesnt care about any of that.

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Except no one stands to gain anything from Facebook except the private companies working with Facebook and Facebook off the interest from the reserve pool they likely will not share. Regular people speculators or not will gain nothing lol so why try to make the claim

You can still do all that while believing that Steem will outperform Facebook's Libra. I think you're being really hyperbolic about this

Scott, im sorry but i dont think youre being realistic about this. Once mainstream intervenes none of these petty comparisons mean anything. Lets be realistic.... STEEM is a Chihuahua going up against a Kodiak bear.

I know youre a crypto personality (think i caught you on 0x) and you have to foster the tenants of "crypto mainstream" but its all basically crap meant to create a sense of ideology in the minds of public ("community") so they spread the word for the big investors.
Not saying its not true, just saying thats the goal.

But lets not be "ideological retards" (i coin that phrase) and lets take advantage of what is in front of us. Justin gave Warren Buffet 5 mill dollars for a dinner.

Let our "5 mill dollars" be @andrarchy and @ned knowledge of the social crypto space. Jumping on the bandwagon is easy.
Being smart with your moves is the hard part.

Yes being smart with your moves is the hard part, but this isn't about an ideological battle, we are simply pointing out that anyone who values blockchain and the motivations behind it will naturally oppose Libra as it goes against all of them. It won't compete with Steem because it's not about social media, and it will inevitably introduce blockchain to a massive fraction of the global population

But it is an ideological battle. Crypto is ideology with everything else coming in second. If we discussed this in a neutral forum you would probably agree with me, but this here is Steemit.

Our IRL views are secondary to the expectations of our Steem environment when we post here. You know this is true.

Look... Its harsh to say but people are either idiots or they are preoccupied with life. How many diapers they need to buy for their kid, what car insurance rate they will get on their car this year....
Crypto is about impoverment. Always has been. Other things are beyond secondary.
The mainstream doesnt care about hiding who they are. Hell i dont. My name is Damir Rogosic and i live in Split, Croatia in Matije Gupca Street.

Theres this illusion that this stuff matters. It doesnt. It can matter to you, it can matter to a criminal, it can matter to a guy avoiding taxes, it can matter to someone that wants to be an asshole online, it can matter to someone that is shy...
But it really doesnt matter to many people, to the mainstream... So why push the agenda of shittokens and shit privacy tokens that have close to 0 mainstream appeal????

Ride the wave. Dont be "Gdje Turci, tu i mali Mujo". (Its a croatian proverb)

No one is "pushing it" per se. We are comparing it to Facebook and anything could happen, but Facebook has been declining for a while and will continue to. I still think you're too hyperbolic about it, that's like saying trading stocks is an ideology. You're conflating just valuing or supporting something with it becoming a way of thought. I want all platforms that encourage free speech, promote transparency, and help users monetize their experience to thrive. Facebook's new blockchain won't do that or anything that decentralized blockchains represent. The bigger they are, the harder they fall. There is tons of discussion by many authorities to stop it or regulate it hard and I hope they just delay it and delay it while the world learns more and more about crypto.


Steem is never going to outperform Libra, they will continue to work as two different currencies styles as you will only be able to earn and use Libra for products and services offered on FB, you will earn tokens for clicking and viewing ad content and be able to shop with your tokens from advertisers on FB. With over two billion users don't fool yourself that Steem will outperform Libra. I can't even say how very cringeworthy it was to hear Andrarchy proclaim the status of one million users knowing full well FB has two billion, you'd thought that'd be enough to lose all credibility but no he has to go on about how FB will be set up for the benefit of stake Steemit also is, how the Steem platform is decentralized...which it isn't, how anybody can join Steemit and earn stake like some of the stakeholders...which is near impossible unless you have a natural ability to spin out high quality stuff, so there's quite a difference there as most people, especially those on FB can't do. I will lay bet that if I so choose that in less than a month I will make more Libra tokens on FB then it's taken me to earn here in over a year, just as I have also joined another platform a couple months ago and I have already earned triple tokens of what I've earned here. The thing is is that Steemit will survive just as they have survived other crypto platforms that sprung up because they each offer a different type of platform to perform on. Zuckerburg's attempt to do a Winklevoss on Steemit will have extraordinary success beyond one's wildest dreams but what he can't build with those two billion users is a high quality blockchain, over time as blockchains transform the internet Steemit will always be one step ahead of Zuckerburg in that regard.

They don't need to take it on and win, you don't earn libra from ads, you don't earn Libra at all and it's not integrated to their social network and is nothing like Steem. We are simple saying that Facebook will fail and either way Steem benefits. No one thinks Steem is "going after" Facebook

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Yes people will be able to earn crypto's to view ads and buy stuff from those ads on FB.

Zuckerberg intends to peg his currency to the US, Euro and Japanese Yen and pay the consumers of Facebook fractions >of cypto's to view ads and interacting with online shopping.

FB isn't going to fail unless they regulate it out of existence, you are under the assumption that everybody cares about the politics when in fact the majority of people simply do not care to engage on a daily basis with what's happening outside the realm of their little world. I find this quite often when something major happens as I am very politically minded and when something major happens is about the only time people actually want to hear what I have to say politically. Steem outside those who seek intellectual stimulation will not benefit much from a FB failure if one did occur, there are way more sites out there now in the crypto world that is much easier to engage on as the rules are not so stringent. I can just see it now people being flagged for making a fraction of a penny off posting their grandson's birth announcement. Get real. Over time things do get old, a new generation brings forth something more creative, exciting to engage with, in that sense one day FB may fail but I highly doubt it will be a huge advantage to Steemit as Steemit doesn't seek to draw out the average joe in participation.

A few new outlets have reported that “Facebook is also looking at paying users fractions of a coin for activities such as viewing ads and interacting with content related to online shopping, in a system similar to the loyalty schemes run by retailers,” which is very similar to what the Brave browser offers via their basic attention token $BAT. I have seen no confirmation of this anywhere, only in news articles talking about Libra prior the announcement. After searching the whitepaper, I found nothing at all mentioning this and I would deem it as speculative misinformation.

You haven't seen confirmation yet as the key words is "also looking at paying" therefore the idea is being played with, knowing Zuckerburg it will happen as it will only increase participation on his site, tons of people, including myself love those loyalty schemes, I save hundreds of dollars a year using them, as a matter of fact last week I bought four pairs of skechers sandals for half their retail price of a hundred forty bucks, that's a seventy dollar savings and well worth taking the time to clip the digital coupon for. It was a three day digital coupon sale buy one get one free. Zuckerburg has practically spent his entire adult life scheming at the expense of others, lots of people do, Steemit wanted to build a different type of platform, that's not a bad thing, I believe in the long run it will probably work out, fall into place somewhere, maybe become a blockchain search engine someday but as far as advancing the crypto sphere Zuckerburg has the connections and money and he will far outpace Steemit in crypto growth. Yes I do believe Steemit missed the opportunity to give Zuckerburg a run for his money but if that's not where they wanted to go to begin with what can I say.

The idea is being played with is also just conjecture. Those articles that said that had no sources for it being a real consideration and being there was no mention of it in the whitepaper points to it not being the case. I wouldn't hold an unsourced speculative article as an authority over Mark's statements, the whitepaper, and the all the official information put out on Libra.

@andrachy gave some great thoughts on Libra from the perspective of a blockchain based startup. We are keeping our eyes peeled on Facebook's Libra as well and will continue update information as it comes out here on our page.

In any case, Libra is still at least 6 months away from now, and many things can happen in the meantime. There's still Telegram's Open Network (GRAM) and not to mention JPM Coin that may potentially steal the spotlight before 2019 ends.

That's awesome I will keep up with your page on it. Yeah I'm really interested in GRAM too

There's a pseudo-IEO of Gram Token happening on Liqui on July 10th.

We call it "pseudo" as it's a resale of GRAM tokens bought during last year's private sale.

You can track the price of GRAM once it's publically available, we'll be the first to track it's price. 😉

I know my friends don't try and change subject anymore when I talk about what I do...
But at the same time they have not gone further than that
So FB doing it opens the idea to the masses .... makes it a little more comfortable....
I'm looking at the glass half full :)

Yeah fair enough, as long as we can get it out to the masses, it will help alot

Hopefully it gets more eyes and attention on crypto / blockchain but FB sucks


  • not OPEN
  • not PUBLIC
  • not NEUTRAL

Nothing more than old bad FIAT, only just in another digital shape.

How it is even possible to call it "a cryptocurrency" ???

What type of sensors are we talking about? 😉

I don't trust Facebook with toilet paper let alone money.

Sorry, out of BEER, please retry later...

I totally agree, I'm going to dive into it soon and share how it falls short of what a blockchain should be

Nothing falls short, it's a technology open to how anybody wishes to use it. Your going to put yourself in charge of who is qualified to use blockchain technology then maybe you want to start with Walmart whose using it to expediently track where produce comes from so they can more readily alert the public to any contamination issues on the world market.

Well done Scott, keep up the great work.
I appreciate it, and @andrarchy as well.

Thanks I will! :)

You summed it up perfectly, I couldn't have said it any better. Have a !BEER

@andrarchy explains thing well, however, Steem does not have 1 million users - not even close.

Yes there are over 1 million accounts, but that is the only figure that comes anywhere close. Every other statistic - unique weekly/monthly/yearly posters/voters, accounts holding more than 0 SP, etc point to a much smaller community.

If you then took any time to remove bots/community accounts/test and alt accounts, this figure would reduce even further.

I feel it is detrimental to continue inflating the user-base number.

Overall though , the differences between Steem and what FB have proposed are clearly stated. Cheers.

Yeah fair enough, in my next interview with Elizabeth Powell she outlines what the userbase is more accurately like

Looking forward to that one then :)

It will be all about Steemit and much longer

Dude, dropping the teaser in the comments section!

Libra is not decentralized, not publicly auditable, not cryptographically verifiable. It runs on a questionable platform that never created it's own content and censors people. It has the backing of corporations who would love to make you pay for any and everything. I hope people can see through this.

From your comment I get the same vibes with Ripple/XRP. Which, while it may have a place and purpose for some people, is not a cryptocurrency. I'm down for all of these things Facebook is doing to get people more used to digital currencies and how they work. I haven't even looked into Libra to see if it is a public open source thing or what it is, but if Facebook "owns" the chain and is controlling it, then it is no different than a Paypal or Cashapp for themselves.

That's what I say, look at it as an educational opportunity to involve those who'd otherwise have no interest in crypto's, it will help mainstream crypto's, which I then think will make all crypto's more valuable commodity over the long run.

Why would I want to trust Facebook with anything? Facebook is done nothing but violate everybody's trust, and there's no way but they are going to earn it back.

You are unfortunately in a minority of people, if you weren't FB would have sunk by now. People have become immune to being spied on and tracked on the internet.

Yeah agreed, they're too far gone

There will always be the mainstream folks that move through life with blinders on, they could care less about the issues of less than one percent of the population, if they can find a way to earn enough to buy a new toaster, diapers, clothes, etc., they will move forward with it, it will have a completely different function then Steemit, Steemit will always attract the intellectual crowd and those facing increasing stern censorship.

The people of facebook who have never heard of blockchain won't see through it at least not at first. People still think DLive runs on the blockchain because PewDiePie thought so

He will real in names but for the management, the group have a buy-in of 10 million to join the board of Libra which will slightly run as arm's length company I think called Calibra, Facebook is already under the sights of Governments for data protection, it's a powerful tool the use and who uses the data. FaceBook knows that it's got to seize the future or die, they know if they don't try and be the latetest thing they will end up being myspace. So I do agree with both of you.

Yeah at the very end we can at least hope it just gives Steemit and other blockchain platforms a huge boost

A featured post! How cool is that? Nice to see your hard work paying off, Scott!

Yeah I'm super honored to get featured :) Thanks so much!

i like it!

Thanks a bunch! I appreciate it :)

Hey Scott, this is great! @andrarchy is on point!! Thanks for hosting him.

Totally! Next up I will be interviewing Elizabeth Powell, the Managing Director of Steemit in a much longer format :)


Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!

Has any FB spinoff idea really worked? They did the use-real-names version of myspace and made a fortune with that but nothing else they do seems to work.

Yeah fair enough, I guess we'll wait and see

Sounds like Facebook is too watered down to hold a frontline crypto currency

Exactly, they are already in a decline, they are desperately trying to stay on top

You know, they keep blocking my ads that back link to steemit..

wonder why xD

Yeah go figure eh

No I not want this Facebook... ..steemit was help me more in last three years when I have been here, and what did facebook do last ten years? ... nothing , and worst of all it was collected information about me, and sells it at a higher price in the market. They even use my phone to reach people who are around me or not even using their service. I NOT SEE HOW I CAN USE THIS NEW COIN ???? :( my suggestion is to leave this facebook, and don't use them service, this is what I go do.

STEEM is already moving

Well said, at the least it will bring more people to Steem :)

yeah if its still around,

all i see is longer term people leaving through the door :)

No comparison between the two.

Yeah lol, it's more of a hot take on it

Good or bad, FB initiative will drive more crypto adoption if the governments permit it. I think they take a step by step approach to get users onboard. For a fact there are so many business run on whatsapp chat platform.Imagine the economic transaction also happening through that platform? People are under estimating the impact. FB could cross 1000 USD/share in next 10 years.

Problem is Facebook only makes changes based on their advertisers and people get steamrolled

Wasn't Facebook supposed to accept bitcoin payments? cough cough This is FAR more a "coming together of the crime families" (global currency = new world order, look at the companies and marketing language) than an IPO or crypto offering / stable coin of any kind. This is a scam, and inevitable from the company that hasn't had any issues with trust, security, data privacy or anything...

Will you take your paycheck in Facebook coin? Yeah, I didn't think so.

Yeah what was crazy to me was that coinbase was involved in the sponsors.

@scottbusiness, right? I can't figure out why the payments companies are on board at all.

In my humble opinion, Facebook is working for the government and this is a new plan to manipulate and control humans move in the crypto world.

Probably not wrong, I guess we can just hope they fail and we benefit off the awareness

@scottcbusiness, Thank you for your time and answer me back. Many of us no longer trust Facebook, and most importantly the Facebook magic to sale private messages, information, pictures, habits ...etc. In reality, really Facebook is over and they need something new and exciting to recover their lost reputation but in my opinion and the opinion of intelligent people is completely lost trust and the magic is over.

When I post something in the past about Steem my post immediately was delete or disappear that is a reflection that Facebook knows that is over and the worried about the competition of Steem getting strong and more traffic than FB.

Hope you have a great evening.

Best regards,


Yeah. A great example is they make you answer a captcha if you share even in a personal message. Then they go back later and remove personal messages even if you send it to yourself that contain "" claiming it's against community guidelines. It's crazy

@scottcbusiness Facebook started its first step with betrayals to its best friends; courthouse, lawyers...etc. Mark Zuckerberg likes to be at the peak of success at any cost, steeping on anyone who gets in his way.

Facebook, Inc Mark Zuckerberg brain and his key learning have to reprograming again. Mark Zuckerberg thing that he can microwave ideas and everyone will applaud him forever.

Success coming to our lives with failures and acknowledge but not with betrayal.

Thank you for your time.

I really appreciated.

Wow. That is indeed crazy. I didn't know they were doing things like that. But I do agree. This new move from FB is adding another layer of control and data collection on people. Time will tell how things turn out.

Indeed! I keenly watch and await the launch

congratulations Facebook

Hopefully, we can benefit off of it

Yes, I think facebook and libra will be Good for Steemit...

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Block chain is more than a phantom. So,i think is needless comparing it with facebook

Well they are launching a blockchain so

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Pukebookgobblecoinlibra's wants my money and my valuable content..

Brush my teeth and sleep on this one..

Yeah they want everything

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Libra will face many challenges
That said it is as least backed (though by fiat) unlike the pointless steel token. Honestly a year ago I’d say steemit is the best but with all the ads and nonsense here now I’m ready for a real decentralized crypto social media site
Which is not here or Libra in my opinion

It is decentralized, you can not view ads by using another Interface if you wanted to

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Hi Andy, In this post you've made some really excellent points.

Users are stakeholders.
Privacy and Ownership matter.

I would love to find a talented editor to pull about 2 minutes of really strong messaging from this and make it like a long form commercial.

Great talking points and good job on throwing Steem Into the current conversation!

It was a really cool quick interview. Publishing a much longer one soon with their managing direcotr Elizabeth Powell

In this video Andrew Levine who is the Head of Communications at Steemit Inc.

Hi @scottcbusiness!

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Your UA account score is currently 4.657 which ranks you at #1648 across all Steem accounts.
Your rank has improved 6 places in the last three days (old rank 1654).

In our last Algorithmic Curation Round, consisting of 189 contributions, your post is ranked at #5.

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it is going to be some show watching libra sink or soar … who knows

Yes indeed, I'm sure we can all agree on that

stacking up more Fiat cash to reck in some more steem and is gonna be a massive pump for crytocurrencies

I like this
Thank you for this blog
Wawo continue with this Gold heart you have form God

Thanks for your support :)

Thank you for Appreciating my Big man here on steemit

A nice interview. It will be interesting to see how Libra coin develops and what the little details are once it's actually been released, and how the other coins and blockchains will react to it.

I will do a deep dive into it soon!

Well I mean Facebook should be allowing crypto ads again ;) seems like a good opportunity to spread the news.

Yeah it would be pretty weird for them to launch one and still not allow the ads

I wonder what folks think of Rofkin? an ERC-20 token pretty much offering what seems like what is already being done here. Anyone hear of it or use it or use RAE Token?

Rofkin is like Steem? They have a social platform? What's the URL?

Sorry for the late reply, this is the url

No worries, thanks

Pretty sure FB will mess up their effors with algorithms. They always do. LOL

The last corporation in the world I would trust is FB. With shadow banning and shadow-ading, they have turned their forum into the internet equivalent of the National Enquirer. And if you ask me they were a lot more duplicit in the whole Russian thing. FB hoards wealth and influence. I don't imagine their crypto will be any different.

This was a great analyis by @andrarchy. And we have to get even better at what he says steem is all about and we will wipe the floor with them in the long game.

Thanks, Scott.

Yeah totally, we have to play this out and if we do it right, we should come out on top

The way Facebook is, they're going to use Libra as some sort of social credit system as much as a "cryptocurrency". And Democrats like Maxine Waters will push to make that happen.

Maybe. I mean at the very least she called that they halt the launch and development until they are regulated. I'd actually like to see them regulated because it's better than them having free reign to run the world with their sovereign currency.

I just went over the white paper of steem and libra yesterday and I must say, steem is quite advanced. ( haven't watched the video yet, but I shall later)

It's fairly brief rather than a direct comparison. I will do a deep dive into libra tomorrow

Excellent report, thanks for posting this.

Thanks for checking it out :)