Diem – A rebrand of Facebook’s Libra • Hacker News Board

Re: Diem – A rebrand of Facebook’s Libra

#421

Post by smolder » Tue, Dec 08, 2020, 11:12 AM UTC

camgunz wrote: post #214

fastball wrote: post #167

Earlier quoted context omitted.

Obviously the biggest one is concern over things like hyperinflation, which has happened in the real-world many times. Or, not quite at hyperinflation, but your government is enacting policies based on MMT or similar and you are worried that this could hurt you (as a holder of the currency) in the long-run. Or, maybe you're worried about governments being able to dictate what you are allowed to purchase with "their"…

I don't always agree w/ my government here in the US, but I do like that--while it's not a perfect process--as a democracy I can influence it. The reason it's illegal to buy certain things in the US (people, organs, drugs, assassinations) is that we all got together and thought people shouldn't do that. Many people disagree but, that's what voting is for. Subverting the will of a democratic people is... immoral? The…

All getting together and deciding on something is the rosy version of how our democracys laws come to be or how we decide to go to war, for instance. It feels like people "all got together" if you accept that the apparent consensus of the public you perceive through news and other media is a real reflection of their sentiments rather than a rudder on the boat of public opinion. See Chomsky's manufacturing consent. The "public discourse" is really always a mix of propaganda and real ground truth, and they're hard to separate, but there are certainly strong influences exerted by organized groups.

Re: Diem – A rebrand of Facebook’s Libra

#422

Post by disgruntledphd2 » Tue, Dec 08, 2020, 12:49 PM UTC

fastball wrote: post #416

taffer wrote: post #409

Earlier quoted context omitted.

There are many scientific fields that cannot conduct experiments, such as climate science. To say that this is not science is quite naive.

First off I reject the premise that people investigating the climate cannot perform experiments. Even assuming what you say is true, if not experiments and attempts at falsifying your ideas, how does one pursue the truth?

You only have one planet, it's a little difficult to split it in two.

How would you suggest we run randomised experiments on the climate (or the macro-economy)?

Re: Diem – A rebrand of Facebook’s Libra

#423

Post by TazeTSchnitzel » Wed, Dec 09, 2020, 12:09 AM UTC

baby wrote: post #294

TazeTSchnitzel wrote: post #43

The whole “unbanked” thing is really unconvincing, because there's no way Libra/Diem will be usable for people who don't have identity documents and the evidence needed for KYC/AML forms, and that excludes most unbanked people. As for international money transfers: TransferWise and the like are already providing better solutions in that space without forcing you to use Facebook Coins. Now you might say that mostly ca…

> and that excludes most unbanked people I don't agree, my step parents (in Romania) are unbanked and they have ID documents. A lot of people are in a similar situation there. Yet they all have smart phones.

As EU citizens with ID documents and smartphones they can open a full EU bank account in a few taps if they want to. They don't need Diem if they want bank accounts surely?

Re: Diem – A rebrand of Facebook’s Libra

#424

Post by baby » Wed, Dec 09, 2020, 1:21 AM UTC

TazeTSchnitzel wrote: post #423

baby wrote: post #294

Earlier quoted context omitted.

> and that excludes most unbanked people I don't agree, my step parents (in Romania) are unbanked and they have ID documents. A lot of people are in a similar situation there. Yet they all have smart phones.

As EU citizens with ID documents and smartphones they can open a full EU bank account in a few taps if they want to. They don't need Diem if they want bank accounts surely?

We’re actually trying to send them money from the US these days and the fees are not great, made me wish Diem was out already :)

Re: Diem – A rebrand of Facebook’s Libra

#425

Post by TazeTSchnitzel » Wed, Dec 09, 2020, 7:50 PM UTC

baby wrote: post #424

TazeTSchnitzel wrote: post #423

Earlier quoted context omitted.

As EU citizens with ID documents and smartphones they can open a full EU bank account in a few taps if they want to. They don't need Diem if they want bank accounts surely?

We’re actually trying to send them money from the US these days and the fees are not great, made me wish Diem was out already :)

TransferWise already exists. It requires your recipients to have bank accounts but they could easily get them.