I'm biased as I'm working on this project. But I'm super happy it's finally out there :) There's a lot of really cool cryptography and tech on this project and there's still a lot for people to discover!
Facebook reveals its cryptocurrency Libra
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Re: Facebook reveals its cryptocurrency Libra
#22It’s going to be interesting.
“Unlike previous stablecoins, Libra will not be issued by a central party. Instead, Facebook has enlisted 27 fellow Silicon Valley titans—among them PayPal, Visa, Spotify, Mastercard, Uber, and eBay—to operate as preliminary “validator nodes” who will each share a transparent copy of a vast ledger of transactions reflecting all the activity on the network.”
That sounds amazingly dystopian. I mean, that’s literally a money built on an oligarchy. By design.
I understand people trust these services ( to the extent they keep using them), but the playing field should be flatter in crypto. Unlike the article’s suggestions that Ripple is toast, I can imagine it’s putting such coins in a position to be very competitive, more open, and not run by the companies above.
Re: Facebook reveals its cryptocurrency Libra
#23how do i mine it?
Re: Facebook reveals its cryptocurrency Libra
#24>1000 tx/s
Nice try Zuc. But BSV can do 10k tx/s already AND it supports tokens as well
Re: Facebook reveals its cryptocurrency Libra
#25I hope it crashes and burns. It's the opposite of what crypto was meant to achieve. No central control.
Re: Facebook reveals its cryptocurrency Libra
#26It says testnet only until early 2020. Coincidentally, Ethereum recently announced Ethereum 2.0 releasing in early 2020. I consider Libra Coin an effort to cash in on the cryptocurrency hype with a type of bank, before real cryptocurrencies can scale and become mainstream and therefore block such an effort. So I see it as a moral imperative for developers to try to kill the project. The fact that they are making it o…
So we can take it down from the inside, trojan-horse style!
Re: Facebook reveals its cryptocurrency Libra
#27I'm biased as I'm working on this project. But I'm super happy it's finally out there :) There's a lot of really cool cryptography and tech on this project and there's still a lot for people to discover!
Can it be used without a Facebook account?
Re: Facebook reveals its cryptocurrency Libra
#28I'm biased as I'm working on this project. But I'm super happy it's finally out there :) There's a lot of really cool cryptography and tech on this project and there's still a lot for people to discover!
Considering the track record to date why would anyone want to handover financial transaction data to Facebook?
I may as well cut out the middleman, save time and punch myself in the face.
Re: Facebook reveals its cryptocurrency Libra
#29Earlier quoted context omitted.
It's based in Switzerland. So maybe yes?
So is Libra following Swiss law? Does US law not apply to Libra? Can Facebook still be associated with it then?
reading the whitepaper , it seems everything will be managed by the swiss company. facebook is just one of the partners.
[As another user mentioned, the company that makes the wallet is US based and will enforce sanctions. But maybe that means that another of the partners can make a wallet to use in sanctioned countries?]