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One thing that’s been nice since the Libra announcement is the number of knee-jerk reaction “cryptocurrency is 100% useless and look at this NIST blockchain flo
by seibelj 7y ago
One thing that’s been nice since the Libra announcement is the number of knee-jerk reaction “cryptocurrency is 100% useless and look at this NIST blockchain flow chart hurrr hurrrr” comments have mostly disappeared. It seems like crypto is not totally useless after all, but the biggest threat to humanity ever created... or something...
- b_tterc_p 7y agoLots of useless things can become useful if powerful people say they’re important now. It doesn’t say much about the underlying tech.
- danShumway 7y agoCrypto isn't the reason why Libra is dangerous, Facebook is. If Facebook was launching their own business-controlled currency that was backed by an SQL database, you'd see the exact same reaction. The crypto part is just an implementation detail, what people are actually upset about is corporations trying to seize control of our currency.
- antpls 7y agoCorporations are subjects to local laws, so what's the issue ? It seems people are afraid of the unknown more than Facebook. My personal questions : If anything goes wrong with the Libra scheme, who will be responsible ? Who would be fined / sent to prison ?