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First of all, I like that you skirted around the fact that the point made was about Facebook's control and not the product's existence. Still, how does it disp

First of all, I like that you skirted around the fact that the point made was about Facebook's control and not the product's existence. Still, how does it disprove the point? Most ewallets are designed to solve the fact that there is no banking infrastructure in developing countries. Libra will still need the same infrastructure to get people to buy those coins. > WeChat maybe could, but that's a scary thought, so I'm glad this alternative will exist. People who use WeChat everyday don't care. It seems sometimes SV fails to understand what they care about and what their customers want are two different things.

dwild 7y ago
> Libra will still need the same infrastructure to get people to buy those coins. Go try to offer Paypal to people in developing countries! Libra is a cryptocurrency. I can sell it, you can sell it, anyone can sell it. You can't sell Paypal "currency" in developing countries (well you could, but they would either need an account with wrong informations or use your account directly for the transaction, which in both case doesn't make sense) but you certainly can sell Libra currency pretty easily. That's the beauty of it. If Libra takes off, Facebook won't have to build infrastructure anywhere, simply because it will be simple (and relatively profitable) for anyone to build infrastructure anywhere and act as a middlemen.
- deleted 7y ago
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carlosdp 7y ago
I didn't skirt around it. Your argument was hand wavy and essentially saying "they must be in control because why else would they do it?" My counter-point is the reason is very clear, and very upfront in their materials. > Most ewallets are designed to solve the fact that there is no banking infrastructure in developing countries. Um...no? Most ewallets are designed by extreme Libertarians that believe that we would be better off without government regulation, or that government collapse and somehow them having Bitcoin will make them safe.
- thisisit 7y ago
  So, you consider a concrete example where Ethereum, a coin which was touted as a decentralizated and later exhibited centralization by trying to stop the Ethereum hack by changing the code as "hand wavy"? So let me ask you directly without any hand waving - how will Facebook or anyone handle a big Libra hack without trying to centralize the power? > Most ewallets are designed by extreme Libertarians that believe that we would be better off without government regulation, or that government collapse and somehow them having Bitcoin will make them safe. What are you talking about? I have given examples of ewallets like Paytm and Wechat Pay which work without bank accounts and you start talking about Bitcoin. sigh I give up.

dwild 7y ago

> Libra will still need the same infrastructure to get people to buy those coins. Go try to offer Paypal to people in developing countries! Libra is a cryptocurrency. I can sell it, you can sell it, anyone can sell it. You can't sell Paypal "currency" in developing countries (well you could, but they would either need an account with wrong informations or use your account directly for the transaction, which in both case doesn't make sense) but you certainly can sell Libra currency pretty easily. That's the beauty of it. If Libra takes off, Facebook won't have to build infrastructure anywhere, simply because it will be simple (and relatively profitable) for anyone to build infrastructure anywhere and act as a middlemen.

deleted 7y ago
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carlosdp 7y ago

I didn't skirt around it. Your argument was hand wavy and essentially saying "they must be in control because why else would they do it?" My counter-point is the reason is very clear, and very upfront in their materials. > Most ewallets are designed to solve the fact that there is no banking infrastructure in developing countries. Um...no? Most ewallets are designed by extreme Libertarians that believe that we would be better off without government regulation, or that government collapse and somehow them having Bitcoin will make them safe.

thisisit 7y ago
So, you consider a concrete example where Ethereum, a coin which was touted as a decentralizated and later exhibited centralization by trying to stop the Ethereum hack by changing the code as "hand wavy"? So let me ask you directly without any hand waving - how will Facebook or anyone handle a big Libra hack without trying to centralize the power? > Most ewallets are designed by extreme Libertarians that believe that we would be better off without government regulation, or that government collapse and somehow them having Bitcoin will make them safe. What are you talking about? I have given examples of ewallets like Paytm and Wechat Pay which work without bank accounts and you start talking about Bitcoin. sigh I give up.