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A week ago the pitchfork commenters would say anyone that uses blockchain is clearly an idiot because a centralized database is superior in every way. Suddenly

• icebraining 7y ago
  Your shock comes from the misconception that the two are incompatible. The crucial point here is that FB is creating a currency they control. It can still be true that FB are idiots for using a blockchain instead of a database.
• Lewton 7y ago
  The other thread is full of people lambasting Facebook for using a blockchain when it’s not really needed since it’s a centralized currency in practice
• snarf21 7y ago
  No, the issue as GP says is that they are using crypto as a label to avoid regulation. They are using a "but it is a decentralized blockchain" argument to try to avoid all the regulations they can't/don't want to meet. This whole association is really just a new banking conglomerate. That wouldn't pass muster without full compliance. This is just the normal "try to skirt the laws" startup mentality so you can create exploitable margin over your competitors that actually follow the rules.