Maybe they ll go with the chinese one instead
Paypal Withdraws from Facebook's Libra Cryptocurrency
151–160 of 293 posts
Re: Paypal Withdraws from Facebook's Libra Cryptocurrency
#152Here 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…
If that happens, facebook will be attacked from all sides (including states) and loose.
Re: Paypal Withdraws from Facebook's Libra Cryptocurrency
#153Earlier quoted context omitted.
Bitcoin does not have an "office" that governments can raid. Governments never embraced Bitcoin, they have no choice. It is not within reach of their usual methods of control (law enforcement, diplomacy, warfare).
It would be very easy for the government to shut down Bitcoin: - Shut down all bitcoin exchanges hosted in the United States - Make it illegal for banks, credit unions, and other commercial financial institutions to allow their clients to make transactions with a crypto exchange (regardless of the countries where the exchange is hosted), or a blockchain
This would not shut down bitcoin.
Re: Paypal Withdraws from Facebook's Libra Cryptocurrency
#154Here 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…
it'll be a success
Imagine being unable to buy food because an algorithm determined that “you violated our community standards” and there’s no way to contact them. One or two stories like that will kill Libra stone dead.
If Libra ignored these rules, they'll put these guys (or at least a part of their offerings) out of business
This is called money laundering, people go to jail for it.
Re: Paypal Withdraws from Facebook's Libra Cryptocurrency
#155Here 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…
> Why would anybody use Western Union if they can send money through their Facebook for less or no fees? It's easier and more convenient too.
So if I'm in the United States, and want to send some of my paycheck back to my family in Sudan so they could buy stuff, how could I do that with Libra?
Re: Paypal Withdraws from Facebook's Libra Cryptocurrency
#156So crappy payment company removes support for unsupported privacy theft company. Sounds like a win win. This is amazing win for tech.
Re: Paypal Withdraws from Facebook's Libra Cryptocurrency
#157Earlier quoted context omitted.
Why wouldn't it help in countries where bribery is illegal?
The insinuation is that lobbying is bribery (and on the more egregious end of the spectrum, it is ). In countries where lobbying isn't legal, it would at least help much less.
I think the idea is that if lobbying is legal, then it is regulated and thus how much it can help is limited. In countries where lobbying is illegal, it can take a form of bribery and then you can (potentially) achieve a bit more in this 'unregulated-bribe-anyone' space...
Re: Paypal Withdraws from Facebook's Libra Cryptocurrency
#158Earlier quoted context omitted.
The insinuation is that lobbying is bribery (and on the more egregious end of the spectrum, it is ). In countries where lobbying isn't legal, it would at least help much less.
I think the idea is that if lobbying is legal, then it is regulated and thus how much it can help is limited. In countries where lobbying is illegal, it can take a form of bribery and then you can (potentially) achieve a bit more in this 'unregulated-bribe-anyone' space...
That's an odd argument. If the goal is not to have your politicians be bought and paid for, then surely making it legal to buy them is arse backwards.
Re: Paypal Withdraws from Facebook's Libra Cryptocurrency
#159Earlier quoted context omitted.
Bitcoin does not have an "office" that governments can raid. Governments never embraced Bitcoin, they have no choice. It is not within reach of their usual methods of control (law enforcement, diplomacy, warfare).
It would be very easy for the government to shut down Bitcoin: - Shut down all bitcoin exchanges hosted in the United States - Make it illegal for banks, credit unions, and other commercial financial institutions to allow their clients to make transactions with a crypto exchange (regardless of the countries where the exchange is hosted), or a blockchain
I am not sure this would work unless they ban incoming telegraphic transfers.
Re: Paypal Withdraws from Facebook's Libra Cryptocurrency
#160Here 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…
it'll be a success Imagine being unable to buy food because an algorithm determined that “you violated our community standards” and there’s no way to contact them. One or two stories like that will kill Libra stone dead. If Libra ignored these rules, they'll put these guys (or at least a part of their offerings) out of business This is called money laundering, people go to jail for it.
It’s all speculation but I wouldn’t be so sure about some negative press killing Libra. Thinking of another large platform where an algorithm determined a driver safe and then they perform a sexual assault on one of their passengers, it gets tons of press, still has millions of users...
Example: https://money.cnn.com/2018/04/30/technology/uber-driver-sexu...