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Special thanks to @Visa and @Mastercard for sticking it out until the 11th hour. The pressure has been intense (understatement), and I respect their decision to wait until there’s regulatory clarity for @Libra_ to proceed, vs. the invoked threats (by many) on their biz.
You might want to ask yourself why the pressure has been so intense. And read some history that Bitcoin pioneers were aware of, for example the failure of e-gold. Your failure to learn from history has caused you to at great cost recapitulate the failures of the past.
Don’t get me wrong. Already had a lot of appreciation for bitcoin well before I started on this journey, but appreciation is growing :). Just not a good medium of exchange (yet?).
Bitcoin works infinitely better as a medium of exchange than de facto banned vaporware.
Hard to argue against that. Although it’s a tad more than vaporware...
Don’t threaten governments by pushing a new basket currency
Make Libra currency agnostic
Make the chain support multiple currencies (
)
Let users transmit any currency they choose
Gov’s will love you as you digitize their money & support instead of compete with them
PayPal et. al. already do this.
Very different. There's no way to transfer a PayPal digital dollar to Square Cash and then to WhatsApp or even an indie wallet.
What if you could take the Libra blockchain & replace the Libra basket currency w/ ?
Stablecoins for each currency could run on the Libra chain.
PayPal could easily put their own "money" into a blockchain database controlled solely by them and share it to be implemented by others. It's the same. The technology itself is nothing if not used well, you have to let it go. It's the 101 of crypto. Decentralize.
The point of Libra is it won’t be Facebook’s blockchain but rather one run by a consortium of 100 corporations and eventually one run by many individuals in a PoS system (at least in theory). This is nothing like your scenario.
"Those who cannot learn from history are doomed to repeat it". George Santayana
Hah. That’s odd. This is the linkhttps://twitter.com/gaborgurbacs/status/1182749180311363590?s=21 …
haven't they already invested over 9 figures into this Libra research. If that's not a waste of resources, how big is the upside in creating a new world reserve currency?
FB need to realize that the internet’s native currency is Bitcoin
Hey nick what're your thoughts on eth
That would mean they actually planned this well which clearly they did not...The overwhelming market dislike for Facebook and anything Facebook leadership touches invades any normal sense of privacy people want or expect...This was poorly planned from the get-go and that is clear
#Bitcoin is being criticized for not being an effective and efficient medium of exchange. Conclusions are that transactions are expensive/slow and transaction volumes are limited plus Bitcoin is energy-intensive. Still the alternatives seem not to succeed.
Add him to the list. It's getting long.
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