Visa, Mastercard, Stripe, and eBay exit Facebook’s Libra project

Post by htfu » Sat, Oct 12, 2019, 10:44 AM UTC

xabotage wrote: post #89

CodiePetersen wrote: post #54

I'm actually glad it's dead/dying. It was always going to be controlled by an elite group who answered to no one but themselves. They had the ability to monitor all of your transactions and if they didn't like you they could roll back or block your transactions. People keep saying oh this is proof crypto can't ever work because government. This was never a true crypto currency. It was just a private ledger tracking w…

>They had the ability to monitor all of your transactions and if they didn't like you they could roll back or block your transactions. Unlike, what, my established credit card company which still blocks me randomly when I'm traveling overseas even when I explicitly call their 800 hotline, sit on hold for 30 minutes, and tell some unempathetic worker "I'm overseas, don't block me"? Yes, thank goodness libra is dying,…

Post by wallace_f » Sat, Oct 12, 2019, 11:07 AM UTC

antihero wrote: post #282

thefounder wrote: post #254

Earlier quoted context omitted.

Yeah except they are not digital currencies(i.e you cant store them on a cold wallet, you can't send or accept them without several 3rd parties involved(i.e paypal, visa, banks)

At least governments are sort of remotely accountable. If we've learned anything from the entire fucking history of the internet it's that nerds with power are not particularly accountable.

Post by robkon » Sat, Oct 12, 2019, 11:12 AM UTC

Post by pxlpshr » Sat, Oct 12, 2019, 11:29 AM UTC

buboard wrote: post #259

john_moscow wrote: post #129

Earlier quoted context omitted.

The fate of Libra isn't tied to Visa/Mastercard's withdrawal. It's ultimately about whether there is a market for a new mechanism for international money transfers. As someone who runs a business that has (small) offices both in EU and North America, let me share a quick overview of the current state of things. When you want to transfer a non-trivial amount of money between 2 countries, you have likely received it in…

One potentially huge market is online payments and small transactions. If libra is embedded into the browser, millions of blogs could start charging for frictionless access to their content, and thousands of games would improve their experience and revenue. That s a huge and largely unserved area, unless you think that entering card numbers and private data with every spent penny is a good situation. I think Libra is…

Post by Andrew_nenakhov » Sat, Oct 12, 2019, 11:36 AM UTC

vkou wrote: post #201

Andrew_nenakhov wrote: post #87

Earlier quoted context omitted.

Money laundering and other criminal activities are a very profitable businesses that power an important sector of economy. If Bitcoin enables or facilitates them, it is far from what I would call useless. Also: it will not be outlawed everywhere, some country will jump on the opportunity. So you earn bitcoins in one place, legalize then in another one, where it is legal. It's not so easy to prevent this, I'd even cal…

Let's say, for the sake of argument that Ukraine legalizes BTC, while it's illegal everywhere else. What you think will happen: - Ukraine will make fat stacks from all the people who care about BTC. Crypto-libertarians will rejoice, issue fifty billion ICOs, and Ukraine's GDP will exceed that of the rest of the world. BTC will go to the moon, and anyone who didn't get on that train when its future was in doubt will b…