691–700 of 1001 posts
Again: A ledger that is not decentralized is a bank database, not a cryptocurrency. As near as I can tell, Zuckbucks are nothing more than the JPMorganCryptocurrency but with a bigger consortium. The only difference seems to be who is given write privileges to the database.
It’s a shadow bank. Hedge funds did it in 2007. Facebook is doing it in 2019. Same schtick, new faces.
Again: A ledger that is not decentralized is a bank database, not a cryptocurrency. As near as I can tell, Zuckbucks are nothing more than the JPMorganCryptocurrency but with a bigger consortium. The only difference seems to be who is given write privileges to the database.
> Zuckbucks are nothing more than the JPMorganCryptocurrency It’s a shadow bank. Hedge funds did it in 2007. Facebook is doing it in 2019. Same schtick, new faces.
that's a shadow /s
Not only they built it in Rust, but they also built Move - language clearly derived from Rust, which uses ownership as a way to manage monetary resources. Regardless of trust issues with different companies involved, that's just beautiful engineering.
Why is choosing a specific programming language, Rust, "beautiful engineering"?
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> I'm not 100% steeped in cryptocurrency theory, and so I don't understand why this is presented as if it's agreed on by everyone. What problems does the world have that would be solved by an online, independent [of any nation, presumably?] currency? Visa and Mastercard are taking a 3-4% cut of every single consumer payment made in much of the world. That ends up being a very, very big number. There are many people a…
> Visa and Mastercard are taking a 3-4% cut of every single consumer payment made in much of the world. That ends up being a very, very big number. In Denmark we solved this the lowtech way. Visa cards have to be Dual visa/dancard, where the dancard has extremely low cut limited by law(0,055$/transaction flat rate) It’s not hard, it just requires you have politicians capable of dodging the huge piles of cash MasterCa…
This is an interesting story and I would like to learn more about libra-coin. Unfortunately I think hackernews has a strong anti-facebook bias that is making the opinions here nearly universally one sided. I think we can say three things fairly uncontroversially in favor of this 1. The world could use an online independent currency 2. Adding stability to blockchain currencies and having that work on a large scale is…
https://taler.net/en/index.html
https://directory.fsf.org/wiki/Taler
(late 2018) https://www.coindesk.com/free-software-messiah-richard-stall...
(2016) https://news.bitcoin.com/richard-stallman-gnu-unlike-bitcoin...
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I'm fairly anti-crypto, but there are a couple items in favor of #1: - A currency outside of traditional governments would theoretically be free of currency manipulation by those governments (ex. China and the Yuan) - An international currency can sidestep the artificial middleman fees and friction caused by traditional monetary exchanges. Ex. my friend who is currently studying in Japan wanted to get some money from…
> - A currency outside of traditional governments would theoretically be free of currency manipulation by those governments (ex. China and the Yuan) You can't live your life outside your country's currency though. It has a built-in demand because you have to pay taxes in it. So you're going to have to buy some of it somewhere. > - An international currency can sidestep the artificial middleman fees and friction cause…
> You can't live your life outside your country's currency though. It has a built-in demand because you have to pay taxes in it. So you're going to have to buy some of it somewhere.
Yes but then you can shop around for conversion and can keep the majority of your liquidity in a vehicle which is less easily manipulated but just as fungible (I am just arguing about the utility of a global, trans-national currency and not speaking to specifics offered by the Facebook coin specifically).
Currently, if you want to hedge against the Yuan but still want to buy goods in China, you don't have many choices. But if vendors accepted some other currency in addition to Yuan, you can convert to Yuan to settle debts with your government and keep your holdings liquid elsewhere.
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?
I appreciate your point of view, FWIW I believe that I'm doing net positive work for the world. If you don't believe such projects should exist, you can at least agree that such project will inevitably happen and that it is a good thing that they have people like me onboard to influence them in the right direction. I will write more about the things I work on and why I think these are good things on my blog www.crypt…
Unless you sabotaged the project, no. It would be a better thing if people like you refused to work for Facebook so it would have to hire someone less competent or at least someone more expensive,