251–260 of 1001 posts
It's a currency, but I don't see how it is crypto. No mining, centralized control by a few validators. Old wine in new bottles.
It’s going to be interesting. “Unlike previous stablecoins, Libra will not be issued by a central party. Instead, Facebook has enlisted 27 fellow Silicon Valley titans—among them PayPal, Visa, Spotify, Mastercard, Uber, and eBay—to operate as preliminary “validator nodes” who will each share a transparent copy of a vast ledger of transactions reflecting all the activity on the network.” That sounds amazingly dystopia…
The one that uses a coin backed with violence is the State. How can you even begin to compare that?
Earlier quoted context omitted.
Could you elaborate on what Bitcoin failed at?
On being a currency, since its price fluctuates too much to be taken seriously, so it's used as an investment instead.
It was already tried. It was called Bitcoin. It failed spectacularly. At least this looks like it could work. I trust my government more than I trust these companies so I will keep using fiat, but this may be an option for other people.
The government is heavily lobbied by these companies, so essentially the government is mostly just these companies.
I don't get why it has to be a "cryptocurrency". I see the value in some sort of token that you buy and can then exchange without fees, but couldn't that just be a simple DB? What does it being a cryptocurrency on a blockchain get you?
> Indeed, that’s why Calibra, the wallet software that will hold Libra Coins, was made a subsidiary of Facebook The big question for me is whether or not wallets and therefore transactions can be created without needing an 'account' somewhere, just like all other cryptocurrencies. Can I participate in the economy anonymously or do all wallets need to be registered like a traditional bank account.
You need to sign up and verify your account before you can do anything. Think of this like paypal with blockchain behind the scenes instead of Oracle/Sql or whatever they use as db
It's a currency, but I don't see how it is crypto. No mining, centralized control by a few validators. Old wine in new bottles.
Earlier quoted context omitted.
There's a lot of interesting physics in building thermonuclear weapons. Doesn't mean you should do it. Your talents could be used to help the world. Instead, they are being used to enclose common spaces and pull apart the fabric of society. Get a better job?
"pull apart the fabric of society” The fact that you made yourself believe this doesn’t make it true.
If this succeeds, it will be a data collection tool the likes of which the world has never seen, which is why so many companies are willing to put their name on it. The data, along with ML/AI, and our contemporary understanding of the human mind, means that this is a major step towards control that we can't understand. Dr. Harari explains it better than I do in "21 Lessons for the 21st Century", but this tool is part…