121–130 of 138 posts
So the only thing this has going for it over cash is that it may ease exchange online (to be seen). And this depends on how easy it will be to join this as a merchant or user, how nice APIs will be, and how well fraud will be handled, etc., etc. And the value will fluctuate based on the trust in the ability to convert it reliably to cash/other currencies. So there's no real peg to anything, as described previously.
Sounds to me like Facebook is trying to become the Wechat of the West ... (as per an article 2 days ago explaining how Wechat could be central to every payment in a daily life )
Earlier quoted context omitted.
From the Move programming language paper: "semantics inspired by linear logic". Any even more technical references? Anybody knows anybody who really work(ed) on Move? Academic? Otherwise? I'm interested because of my "poured only once" current project http://imar.ro/~mbuliga/hapax.html
> Anybody knows anybody who really work(ed) on Move? The authors are listed in the PDF
... I notice now that it uses the gas mechanism from Ethereum. Less interesting than I thought.
Is there a German word for thinking something is trite and gross on one hand while investing with the other? I'm that German Word
So this is it Is there a German word for thinking something is trite and gross on one hand while investing with the other? I'm that German Word
I propose that a blockchain with mutually trusted gatekeepers is indistinguishable from a replicated RDBMS.
It seems that by dialing up the trust in their validator nodes (to something significantly greater than the trust you might have in a bitcoin node, but also significantly less than 100% trust), they are able to decrease the work involved in the consensus protocol, reducing energy usage.
The suggestion that this is a way to help the "global unbanned" is also disingenuous. If people don't have enough money to put any in a bank, making up a new centralized currency isn't going to change that.
1) They do not live near a bank 2) They don't meet some minimum threshold of money 3) Discrimination - The are part of some social or ethnic group that the banks won't touch
Earlier quoted context omitted.
>Libra is Facebook Credits [1] rebooted. All that changed is the meme it’s attaching to, “cryptocurrency” My posting history will show I'm skeptical of Facebook but setting my biases aside, I think there's still a real technical difference here. I believe the old Facebook Credits required the transactions to go through Facebook's centralized servers. (The programming api for processing Facebook Credits communicated w…
>Initially, the association (and validators) will consist of a geographically distributed and diverse set of Founding Members. These members are organizations chosen according to objective participation criteria, including that they have a stake in bootstrapping the Libra ecosystem and investing resources toward its success. Over time, membership eligibility will shift to become completely open and based only on the…
> To ensure that Libra is truly open and always operates in the best interest of its users, our ambition is for the Libra network to become permissionless. The challenge is that as of today we do not believe that there is a proven solution that can deliver the scale, stability, and security needed to support billions of people and transactions across the globe through a permissionless network. One of the association’s directives will be to work with the community to research and implement this transition, which will begin within five years of the public launch of the Libra Blockchain and ecosystem.
>Libra’s mission is to enable a simple global currency and financial infrastructure [...] This document outlines our plans for a new decentralized blockchain, The "decentralized" can be parsed different ways. Facebook Libra is decentralizing the transactions but it does not decentralize the currency creation . (This partial decentralization happens because Facebook wants to peg Libra to stable asset reserves.) This i…
“Every program attempts to expand until it can read mail. Those programs which cannot so expand are replaced by ones which can.”
If you'll allow me to riff on jwz, I think another law is applicable to social media:
"Every social media company will expand until it becomes a bank. Those social media companies which cannot so expand are replaced by the ones which will. A bank is meant in the sense that it will store and mantain things of value including favors, records, and money."