361–370 of 1001 posts
this is giving the power of governments to tech companies, and im not sure how i feel about that, at least bitcoin is truly decentralized
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Could you elaborate on what Bitcoin failed at?
I tried to buy a cup of coffee recently at a bitcoin only cafe. Though I didn’t end up paying with bitcoin because it took a day for the bitcoin atm deposit to clear. So I asked a friend who worked in the building to spot me a cup of coffee, and he paid... by making a line on a piece of paper they used to do bookkeeping denoted in fiat because no-one wanted to go through the hassle of bitcoin transfers and no one had…
So Mark Z. wants me to buy his Chuck-E-Cheese(c) tokens, then see where I spend them. /s In all seriousness, are they offsetting the coin generation with windmills, sea turbines, or geothermal plants? How much power is being consumed by FB and the small handful of banks that are cranking out these tokens?
I feel like the biggest losers here are open consensus-based cryptocurrencies like [Stellar]( https://stellar.org ) and [Ripple]( https://ripple.com ). Libra seems to have the same niche: a consensus-based blockchain protocol rather than proof of work. I fear that having the clout of a bunch of tech companies behind it will get consumer buy-in much faster than Stellar will (with IBM World Wire). A stablecoin backed b…
Neither Ripple and Stellar are open.
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From where I am standing I wonder if this is not reflection of the ineffectiveness of governments. In my part of the world there is a lot more talk about devolution, basically self governance of the different regions. Everyone is sick and tired of decisions being made from the capital city by people who do not have your interests at all.
Democracies need to be ineffective and slow to some degree in order to be stable and to allow all people to participate. Otherwise, a coup d'état would be far too easy because efficiency means that only little time would pass between a decision (whether legal or illegal) being made and it getting implemented.
If it were up to me I'd make the US into ~100 states and reverse a lot of the power transfer from the states to the feds that's happened over the past 100yr.
People are going to read history books about this era and shake their heads in pure disbelief.