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> Libra will still be pegged to government controlled currencies For the time being. That's just part of the bootstrapping process, to avoid volatility in the

• themacguffinman 7y ago
  > That's just part of the bootstrapping process, to avoid volatility in the short-term. How would you stop pegging libra to a currency without destroying or distorting enormous values of libra that existing owners have and therefore permanently destroying trust in libra? I don't see any real substance to this sort of vague cynical claim that "they're just biding their time". > And how do you suggest they'll do that? By applying the same transaction reporting laws to libra (which have equivalent currency value) that already apply to bank-to-bank transactions. The key validators in libra transactions are legal corporations unambiguously within government jurisdiction.