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It was already tried. It was called Bitcoin. It failed spectacularly. At least this looks like it could work. I trust my government more than I trust these companies so I will keep using fiat, but this may be an option for other people.
Could you elaborate on what Bitcoin failed at?
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!
There's a lot of interesting physics in building thermonuclear weapons. Doesn't mean you should do it. Your talents could be used to help the world. Instead, they are being used to enclose common spaces and pull apart the fabric of society. Get a better job?
HN is great because you normally get comments straight from the source, but I'm worried we will inevitably shame Facebook employees into not posting here at all.
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!
Apart from the cool crypto and tech, can you tell a bit what you're ethical viewpoints are on what your work is going to do to the world?
"We try to stay away from such pesky questions but are convinced that the amount of good that Facebook can do is unlimited"
Yeaah.
Libra as in liberty? What a joke.
It was already tried. It was called Bitcoin. It failed spectacularly. At least this looks like it could work. I trust my government more than I trust these companies so I will keep using fiat, but this may be an option for other people.
Could you elaborate on what Bitcoin failed at?
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How is this going to fly with the constant flood of (justified) hate that Facebook is receiving the past year? Apart from the technology, I feel like they have more chance if they'd brand it without the Facebook name on it.
“Moreover, Marcus insisted that the $10 million buy in would not grant validators exclusive access to users’ transactional data.“ So they don’t get exclusive data. That’s an odd statement, it just means that data can be sold to others as well.
I'm not holding any coins. But I have an interest in crypto currencies for some projects I'm developing. Anyone who thinks this is going to replace ripple, I have some bad news for you. Ripples main focus is not for users purchasing goods across websites. Its focus is mainly for banks (to hold vast amounts of XRP) when sending sums of money to each other, to be able to convert fiat into XRP and then send that XRP bet…
Why, of course I trust Facebook with my financial transactions. Why would they lie about privacy? This can only be an altruistic course of action
Cryptocoins are not about privacy, the ledgers are public so no conflict there.