Man, that had to be a satisfying project to work on. All the late nights, the missed dinners with the kids, but through it all the satisfaction of knowing you worked on something so embarrassing in its futility you can never speak of it again
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I guess now they renamed Libra to Diem and it's going to be pegged to the US dollar? The masterminds at Facebook have reinvented the Cuban Convertible Pesohttps://www.cnbc.com/2021/04/20/facebook-backed-diem-aims-to-launch-digital-currency-pilot-in-2021.html …
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"Diem’s technology has “changed dramatically over the past year and a half from a naive blockchain to a very sophisticated blockchain” said Ran Goldi, CEO of First Digital Assets Group." Any more sophistication and it will rival the Chuck-E-Cheese token for financial complexity
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How is a centralized cryptocurrency pegged to the dollar differs in any way from a "transactions" table in the Facebook database is a question for larger minds than mine
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Facebook's stated aim was to create a currency to rival the dollar, and I guess step 1 of that is to tether it to the dollar, so the dollar can't escape.
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A more serious question is why Zuckerberg's grandiose projects continue to get taken so seriously. Curing all disease, replacing the dollar, running-not-running for President, all these received massive amounts of press coverage unaffected by the many previous failures.
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The Facebook Oversight Board should be seen through the lens of this serial grandiosity. The company is cosplaying a state—it wants its own currency, its own Supreme Court, its own Maximum Leader. (To their credit Facebook has so far stayed out of the plutocracy space race)
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I put all my money in Ameros.
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I continue to be astounded at the unyielding defense around currency that cannot be traded to satisfy the bottom tier of Maslow’s hierarchy of needs.
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