Paypal Withdraws from Facebook's Libra Cryptocurrency

Post by theamk » Sat, Oct 05, 2019, 12:37 AM UTC

Shivetya wrote: post #40

vertex-four wrote: post #20

If Facebook attempts to become a money transfer service or bank without the required licensing, they will have their offices raided and their doors locked on them. This is something Governments don't tend to mess around with.

which is more the reason to support them in creating such currencies. a private currency provider would open up freedom to so many people that it is only natural for governments, read : politicians, to prosecute such attempts directly and indirectly. they lost control of the message so they damn well make sure they don't lose control of the purse strings by any means necessary. (by message I mean the internet has foi…

Post by jklein11 » Sat, Oct 05, 2019, 12:46 AM UTC

nikanj wrote: post #22

vertex-four wrote: post #20

If Facebook attempts to become a money transfer service or bank without the required licensing, they will have their offices raided and their doors locked on them. This is something Governments don't tend to mess around with.

FB is banking (pun unnintended) on the regulators and goverments being absolutely useless lately. Both AirBnB and Uber built empires on ”What if we just ignore the rules”

Post by toast0 » Sat, Oct 05, 2019, 12:49 AM UTC

nikanj wrote: post #22

vertex-four wrote: post #20

If Facebook attempts to become a money transfer service or bank without the required licensing, they will have their offices raided and their doors locked on them. This is something Governments don't tend to mess around with.

FB is banking (pun unnintended) on the regulators and goverments being absolutely useless lately. Both AirBnB and Uber built empires on ”What if we just ignore the rules”

Post by biesnecker » Sat, Oct 05, 2019, 12:58 AM UTC

wpdev_63 wrote: post #62

Zuckerberg is really ballsy to go up against the government like this. I hope he has some really good security cause I can't see the US government rolling over.

Post by oceanplexian » Sat, Oct 05, 2019, 1:08 AM UTC

toast0 wrote: post #65

nikanj wrote: post #22

Earlier quoted context omitted.

FB is banking (pun unnintended) on the regulators and goverments being absolutely useless lately. Both AirBnB and Uber built empires on ”What if we just ignore the rules”

The feds can come and shut down all of FB over money transmittal, they don't have to limit the shutdown to only the money parts. That's a huge risk to take. If Uber was shut down for violating taxi rules, they only had an unlicensed taxi business.