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Libra shows what crypto and in particular blockchain is really for: allowing global megacorporations to start their assault on the nation state. It's pretty critical we undo this, while the nation state still has its monopoly on the legitimate use of force.
Earlier quoted context omitted.
My read is that it IS the USD. '...it may actually cement the dollar as the world currency once and for all. As the Association mops up all the fiat in the world they’ll likely turn it into dollars on the back end anyway, so Euros and Yen become Dollars and cents.'
But it would still give them leverage, because cutting FB to size would then hit the USD.
Can someone explain what this provides to users over, say, a credit or debit card? You don't have the rebellious notions of sticking it to traditional banks, not do you have (completely imagined) anonymity crypto fans have gravitated to. You don't have any of the intangibles crypto fans like. It just seems like Facebook wants a central bank. Who's asking for that?
Which makes me wonder, why haven't there been in-game tokens made universal yet? I don't do Facebook but didn't they once have a large Zynga game thing on the go, very much tied into the platform?
A monopoly on a virtual currency should have happened by now, one that only buys stuff in games, unlocking features etc., transferable to mates.
If this had happened then it would not be that much of a leap to make the virtual token be handy for real world things. Crypto-nonsense would not be needed, it could just be like a classic in-game token.
If the tokens can be cashed out to hard currency great. But some people might never need to do that. They could buy music and apps with mummy and daddy doing the top ups.
When people say Cyberpunk w.r.t crypto, do they actually mean Cypherpunk ? Or can someone explain what the difference is?
FB exerts increasing control over, and insight into, financial transactions. Alongside excessive insight into most other aspects of personal lives. The result becomes the sort of MegaCorp that cyberpunk novels are built off of. Except, you know... I don't think William Gibson ever expected the future megacorp to have sprung up from an undergrad pivoting his Hot or Not rip-off.
When people say Cyberpunk w.r.t crypto, do they actually mean Cypherpunk ? Or can someone explain what the difference is?
Cyberpunk on the other hand is just a science-fiction genre, which mostly play in futuristic orwellian dystopias and people like to draw comparisons to them.
[0] https://www.activism.net/cypherpunk/crypto-anarchy.html [1] https://www.chaum.com/ecash/ [2] http://www.weidai.com/bmoney.txt [3] http://unenumerated.blogspot.com/2005/12/bit-gold.html
Libra shows what crypto and in particular blockchain is really for: allowing global megacorporations to start their assault on the nation state. It's pretty critical we undo this, while the nation state still has its monopoly on the legitimate use of force.
Why do we need nation states?
Libra shows what crypto and in particular blockchain is really for: allowing global megacorporations to start their assault on the nation state. It's pretty critical we undo this, while the nation state still has its monopoly on the legitimate use of force.
Not everyone shares your adoration for "the nation state".
Can someone explain what this provides to users over, say, a credit or debit card? You don't have the rebellious notions of sticking it to traditional banks, not do you have (completely imagined) anonymity crypto fans have gravitated to. You don't have any of the intangibles crypto fans like. It just seems like Facebook wants a central bank. Who's asking for that?
Can someone explain what this provides to users over, say, a credit or debit card? You don't have the rebellious notions of sticking it to traditional banks, not do you have (completely imagined) anonymity crypto fans have gravitated to. You don't have any of the intangibles crypto fans like. It just seems like Facebook wants a central bank. Who's asking for that?
It is unlikely that you will need to sit in a bank and fill out forms to get a card. You will have no more hoops to go through than in-game tokens. Which makes me wonder, why haven't there been in-game tokens made universal yet? I don't do Facebook but didn't they once have a large Zynga game thing on the go, very much tied into the platform? A monopoly on a virtual currency should have happened by now, one that only…
That would be a big no no and would ring money laundering alarms
> If the tokens can be cashed out to hard currency great.
Again, regulators, that's why Libra has the association and needs to back up each transaction.
In reality the payment processors take so big a cut that a virtual coin would not be very profitable. Plus you have to manage everyone's complaints and chargebacks. Facebook had FB credits but they scrapped it, presumably because it was not good business. There are some smaller companies who manage virtual coins on behalf of games, like superrewards.com . They take a big cut, but also save developers a lot of trouble.
Re: India The connections to Aadhar is far more interesting than is mentioned in the article. There is a revolving door between USAID's 'Catalyst' promoting cashless transactions, Aadhar and the people who benefited from demonetization. The Indian state has also been extremely antagonistic to Bitcoin and other such 'anarchist' platforms. https://www.globalresearch.ca/a-well-kept-open-secret-washin... The state appara…