There's a name conflict. The GBP is called 'libra' in Portuguese- and Spanish-speaking countries.
that's not unusual, e.g. danish/norwegian/swedish korona
Facebook reveals its cryptocurrency Libra
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Re: Facebook reveals its cryptocurrency Libra
#102Their next efforts will probably be lobby like crazy to ban any other coin that is not "Approved".
I really wonder whether cryptocurrency would have been better received if it were named differently. From inception, I’ve only heard it pitched as a currency replacement. This immediately marred it with all of the currency “counterculture”/conspiracy theories. But it seems better suited as a way to trustless-ly track and verify transactions in an actual, traditional currency. That there are ultimately finite amounts…
It certainly didn’t help that the crypto community was choke-full of conspiracy theorists, libertarians that never read anything else after falling in love with Ayn Rand as teenagers, and get-rich-quick schemers.
The idea was fascinating, and Bitcoin has held up marvelously considering it was essentially a prototype with high barriers to change after becoming popular. There’s a Nobel Prize waiting if the rightful owner ever wants to come forward to claim it.
But, at least for me, it was the culture, especially around Ethereum, that ultimately stopped me from wanting to have anything to do with it. Which is ironic, because a large part of that culture was the denial that anything like “culture” exists, that “trust” and “institution” are terms with meaning, etc.
Re: Facebook reveals its cryptocurrency Libra
#103Earlier quoted context omitted.
This isn’t true and injecting grievance politics into an unrelated conversation is not going to result in anything positive.
or, it might actually be true - you're just stuck in the mainstream media bubble.
One is stuck in an 'information bubble' or an 'echo-chamber' when one gets most or all of ones news from a relatively small, homogeneous group that's rather fixated on specific issues.
Anything that can be called mainstream media is (as a whole) none of those things.
Besides that, the term Mainstream Media is now so politicized that it's almost unusable in conversation.
Re: Facebook reveals its cryptocurrency Libra
#104It 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?
Everything, pretty much.
Re: Facebook reveals its cryptocurrency Libra
#105Their next efforts will probably be lobby like crazy to ban any other coin that is not "Approved".
It’s funny how one of the core believes of cryptocurrencies has always been that (a) government will fear and attempt to ban it, and (b) that the technology would make such attempts impossible.
Yet what we have seen over the years is really more of a bemused interest from existing institutions, with targeted and rather effective interventions only where actual harm was done, such as ICOs.
It’s almost as if these conspiracy theories about the FED or Credit Card companies’ lobbying power, or the “International Banking Elite” weren’t exactly right.
Re: Facebook reveals its cryptocurrency Libra
#106It 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…
Facebook had already banned advertising other cryptocurrencies in the run-up to this announcement (well, back in January 2018), so the effort to prevent other cryptocurrencies from scaling is well underway.
Re: Facebook reveals its cryptocurrency Libra
#107Why, of course I trust Facebook with my financial transactions. Why would they lie about privacy? This can only be an altruistic course of action
Be careful with the distraction, Facebook is powerful enough to create the 'alternative' force of gravity.
Re: Facebook reveals its cryptocurrency Libra
#108[flagged]
If people continue to call racists, anti-semites, and neo-Nazis “conservatives”, at some point people will believe it.
Re: Facebook reveals its cryptocurrency Libra
#109I can imagine few things i'm less likely to want than a currency in any way connected to facebook.
Re: Facebook reveals its cryptocurrency Libra
#110I haven’t really seen a lot about how exactly the Facebook profiles will be separated from the pseudonyms on the libra network. I think this is also part of a gamble that people don’t really care that much about privacy in most of their purchases. If you look at a network like Venmo, they have a social aspect that is on by default, a news feed of sorts. With small incentives ( discounts, credits - share this transaction and receive a discount on your next purchase ) - people could easily give up their anonymity on the network. Once this happens Facebook will be sitting on the holy grail of advertising. A full closed loop of people’s interactions with advertising and the impact it has on their purchasing habits. It creates a new avenue for monetization for Facebook when ads are shown on publisher websites as well. Displaying ads and the analytics around engagement only create half the picture, the other half will be the impact it has on how they spend their money.