Taking a deep dive into Libra's whitepaper, @lawrencehwhite1 finds himself in murky waters: https://www.alt-m.org/2019/07/02/libras-unresolved-puzzles/ … @DiegoZuluagaL @norbertjmichel @WilliamJLuther @NickSzabo4 @jp_koning @jerrybrito @saifedean
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People make the mistake thinking that censorship-resistant payments are only about the product being purchased. "Who would censor buying coffee". But censorship resistance is also about the individual or organization doing the purchasing.
Indeed, it is increasingly common to see financial censorship based on the professed beliefs of the individual or organization. As I'm using it here censorship resistance is also about the reliable operation and indeed the very survival of the payment or settlement system itself.
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Sorry, Nick. I'm confused. What is "censorship" in this context? What distinguishes it from mere refusal of patronage? Let's say I or my firm has a philosophical aversion to some currency, and refuse to do business with anyone who offers it to me. Would that count?
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Yes. "Censorship resistance" is an engineering term, in which "censorship" refers among other things to the ability of a payment or settlement service to discriminate in such a fashion, whether based on third party pressure or coercion or of its own volition.
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Thanks, Nick. That helps a great deal.
End of conversation
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Mastercard, Visa, PayPal, and banks have all been hit with DDoS attacks. Or look at today's Cloudflare glitch. Bitcoin is an improvement.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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People underestimate the value of Bitcoin in the currency wars and that’s where it is really the most useful
$BTChttps://twitter.com/ddgaddis/status/1142808800484712448?s=21 …Thanks. Twitter will use this to make your timeline better. UndoUndo
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