71–80 of 293 posts
Well, well, well suddenly it looks like everyone who is making money thanks to current status quo is withdrawing from initiative/opposing it. Probably it means that FB is doing something right... Question is if FB is strong/clever enough to keep moving forward.
Why were they in the initiative to start with then???
Surprising since David Marcus, the head of Libra, was once the CEO of Paypal.
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.
Here are some wild predictions I'm making + Many (or potentially all of the backers except Facebook) will withdraw from the alliance. + Facebook/Zuckerberg will defy the gov.s and launch Libra. + Libra might not dominate the world, but it'll be a success (at least a niche success) and it'll eat up some of the marketshare of these financial institutions. I think Zuckerberg has come (or already know) to the realization…
Earlier quoted context omitted.
1. Where are Bitcoin's offices?
Bitcoin mining is actually quite centralized in a few players; and the exchanges have established offices. The gov.s could have done some serious damage. edit: nice try Satoshi!
Here are some wild predictions I'm making + Many (or potentially all of the backers except Facebook) will withdraw from the alliance. + Facebook/Zuckerberg will defy the gov.s and launch Libra. + Libra might not dominate the world, but it'll be a success (at least a niche success) and it'll eat up some of the marketshare of these financial institutions. I think Zuckerberg has come (or already know) to the realization…
Here are some wild predictions I'm making + Many (or potentially all of the backers except Facebook) will withdraw from the alliance. + Facebook/Zuckerberg will defy the gov.s and launch Libra. + Libra might not dominate the world, but it'll be a success (at least a niche success) and it'll eat up some of the marketshare of these financial institutions. I think Zuckerberg has come (or already know) to the realization…
+1 for the first and second points, but I think it will play out much differently. Facebook will try to defy regulators, but I think the SEC will stomp on them, hard. It will end up a hybrid battle in the courts and Congress between libertarians, a few flavors of privacy advocates, US regulatory concerns, and ultimately land on US power projection concerns. I think the US will eventually shape the law and regulatory…
Earlier quoted context omitted.
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.
Is this the same feds who all have Facebook accounts, including their families, children, relatives, bosses, and so on? Including everything they buy, everything they look at, their location, and complete profiles of their personality, photos, photos that were taken OF them by other people, likes and dislikes, dirty secrets, and so on? It sure would be a shame if FBI directors in charge of such an investigation were…
What Facebook lacks among Big Techs the most, is public trust.
In an era where anything from Big Techs are meticulously scrutinized, something that seems to aim to bypass government regulation is probably the last thing people want.