Is it gonna be a cryptocurrency in any meaningful sense, though? It sounds like it'll likely have KYC, censorability, and money-supply management built in and all controlled by Facebook.
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Replying to @robustus
I don't think the people who are saying that actually know anything—I think it's just fun to hate on Facebook.
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Ehhh I think it's more than that Zooko. They have a long, sordid history of being distinctly anti-user/anti-privacy, and their entire business model is predicated on them continuing to operate that way — regardless of what Zuck says on stage.
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Replying to @acityinohio @robustus
It was specifically the “have KYC, censorability, and money-supply management built in and all controlled by Facebook” that I'm questioning if the people saying that actually know anything. Not the more general “Facebook is evil”.
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1. Sure, in that case probably only Zuck + David Marcus know exactly what's going on. But I and others are inferring based on their business model/history and I'd be (very pleasantly) shocked if it showed any promise of actually being decentralized/uncensorable/private.
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Although with the new pivot to InstaWhatsAppMessenger supposedly going E2E, and basically abdicating responsibility for refereeing speech at all because FB can't see it, maybe a private coin will give them the same cover?
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Hmm that's a good point! I guess I always thought they'd still get everything they'd want from metadata targeting even with the E2E messaging pivot...maybe the same is true for "private" payments? It's all quite murky/uncertain.
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Indeed!
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Replying to @durumcrustulum @acityinohio and
[ Like, the WhatsApp/Insta/Messenger merge _plus_ E2E is a hyuuuuge lift! We'll see if they even get there.
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Strong agree! I think it was
@patio11 who wrote an insightful tweet that people typically reason about the behavior of corporations by thinking about their strategic desires, but you'd be right more often if you focused on their structure and limitations.1 reply 0 retweets 2 likes
Patrick McKenzie Retweeted Patrick McKenzie
Patrick McKenzie added,
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Replying to @patio11 @durumcrustulum and
Thanks. I knew I was butchering it.
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