Facebook Libra Is Architecturally Unsound
stephendiehl.com
Facebook Libra Is Architecturally Unsound
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Re: Facebook Libra Is Architecturally Unsound
#2Re: Facebook Libra Is Architecturally Unsound
#3Bitcoin is the only meaningful digital currency and sound money.
Re: Facebook Libra Is Architecturally Unsound
#4So it’s basically the Chinese Social Credit System, only privatized and reframed as the traditional consumer credit score in use since decades.
Creepy as hell... but it’s good that the excesses of online tracking have brought this whole “dark entanglement” into public scrutiny.
Re: Facebook Libra Is Architecturally Unsound
#5An alternative company which actually seems to do good work w.r.t. safe languages is Alacris/LegiLogic. Though I haven't found the operational semantics of the language there is a public compiler that can be found here: https://alacrity-lang.org/codeeditor
Re: Facebook Libra Is Architecturally Unsound
#6There have been a lot of posts and responses about Libra. The core of it is that FB wants to be an unregulated bank. That is all this whole thing is about. Given the current (and post 2020 political realities?), it is no wonder all the established payment companies tapped out. This effort will be delayed until their is a government structure willing to look the other way. It will also be really interesting to see how this gets rolled out against GDPR and other European laws.
Re: Facebook Libra Is Architecturally Unsound
#7Bitcoin is the only meaningful digital currency and sound money.
Do you believe that bitcoin is useful as an actual currency? As far as I can tell, its only use is to buy drugs and other illegal things online.
Re: Facebook Libra Is Architecturally Unsound
#8>The possibility that a Libra node run by Mastercard or Andressen Horrowitz would suddenly start running malicious code is such a bizarre scenario to plan for and is better solved by simply enforcing protocol integrity and through non-technical (i.e. legal) means.
Refusing to rely on legal means of enforcement suggests the project views itself supreme over all national policies, laws and regulations. On the one hand, such a concept is usually the domain of autocrats, despots, and organized crime-- odd for a tech startup. On the other hand, it would suggest a system more secure from outside legal interference than, say, MasterCard. This detail tends to add a datapoint explaining the lack of support from global ministers of finance....
Re: Facebook Libra Is Architecturally Unsound
#9Bitcoin is the only meaningful digital currency and sound money.
Do you believe that bitcoin is useful as an actual currency? As far as I can tell, its only use is to buy drugs and other illegal things online.
I buy legal things online and use Bitcoin occasionally. Especially on sites that give a discount for using it.
Re: Facebook Libra Is Architecturally Unsound
#10Bitcoin is the only meaningful digital currency and sound money.
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