France and Germany Agree to Block Facebook's Libra

Post by [deleted] » Sat, Sep 14, 2019, 5:56 PM UTC

Qasaur wrote: post #301

arcticbull wrote: post #297

Earlier quoted context omitted.

> If anything, holding the same dollar will lead you to purchase more goods at a higher quality than before as the market develops and expands - a higher purchasing power. AKA, a risk-free return on your uninvested, idle, capital that nobody owes you. The poor tend not to have much savings, by definition, which means that all this win goes to the already wealthy. Your argument is simply that your dollars should be wo…

>The poor tend not to have much savings, by definition, which means that all this win goes to the already wealthy. This is not true - saving rates were higher in the past before irresponsible monetary policy took over after the erosion of the gold standard. >Your argument is simply that your dollars should be worth more later because you got your dollar first. This is exactly what happens in an inflationary monetary…

Post by the-dude » Sat, Sep 14, 2019, 5:57 PM UTC

stkdump wrote: post #290

2ion wrote: post #278

Earlier quoted context omitted.

> Germany is very, very keen on preventing powerful entities from acting outside of regulation and similarly, if not more, on preventing a single entity to get in control of everything. This is largely due to some foobar in the last century, which I'm sure everyone is aware of. Maybe if they'd turn their minds towards what ruling parties have had a monopoly on government for decades as to not allow one club to get co…

> Germany is deconstructing itself by [...] ignoring millenium problems in governance, such as unchecked mass migration. What are you talking about? Germany is 25% immigrants, the US is close to 100% immigrants.

Post by dmix » Sat, Sep 14, 2019, 5:58 PM UTC

shanecoin wrote: post #246

dmix wrote: post #223

Earlier quoted context omitted.

Is Libra really taking on governments? It hasn't even launched yet let alone proven itself useful along consumers.

I would argue that Libra is competing directly with the US dollar. It is a new form of currency for a user to obtain and use within the Libra ecosystem. I would imagine that the ideal world for Libra is for a user to onboard into the ecosystem and transact solely in that ecosystem. It would obviously require Libra to be ubiquitous for this to happen, but it may be the ultimate goal. In this case, an American user wou…

Post by Swizec » Sat, Sep 14, 2019, 6:00 PM UTC

AstralStorm wrote: post #218

Swizec wrote: post #185

Earlier quoted context omitted.

There’s a big difference between a local currency in a small region, or even a distributed crypto like bitcoin, and someone like Facebook. When Facebook starts pushing in a direction towards being an independent state-like power, you have to remember they have a “population” of 2.1 billion (daily active isers) Facebook if it were a country would literally be bigger than China. Their political power is fast approachin…

Facebook has a population of 0. People do not actually live on a land owned by them.

Post by moksly » Sat, Sep 14, 2019, 6:02 PM UTC

walshemj wrote: post #96

moksly wrote: post #15

Earlier quoted context omitted.

Facebook has turned out to be a potential threat to free society. I’m not just talking about the mass manipulation that goes on mostly unregulated, but also the fact that it has quite a lot of personal information on our citizens. Maybe that wouldn’t be an issue if Europe was the best of friends with America, but as that’s obviously not the case. I don’t think our relationship will fully deteriorate, but we can’t ign…

By your argument you would ban newspapers owned and controlled by individuals - that is what caused the Brexit mess