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Its an independent currency: if it changes rules in a way users dont accept it would stop being used. Lets not confound the capacity to build a token with the
by conanbatt 7y ago
Its an independent currency: if it changes rules in a way users dont accept it would stop being used.
Lets not confound the capacity to build a token with the capacity to levy taxes. The latter is the scary one. The former is just playing with casino chips and airline miles.
- objektif 7y agoYeah it would but what abkut the value of the currency when they change the rules?
- conanbatt 7y agoIt would go down, or up, like with any other currency.
- WheelsAtLarge 7y agoOne of the ways that fiat currencies are accepted by the public is that you can use them to pay taxes so even if no one wants to accept them you can be sure that the issuing government will accept it as payment for taxes and government services. So people are assured that at worst there is a place where it can be used. Once FB creates services that people want and then FB decides that they will only accept its currency as payment then people will have the confidence to accept it and use it. There is no doubt in my mind that FB will create services since all companies eventually create them as part of their business. There is nothing new about the general idea. It's happened in the past and it will happen in the future.
- conanbatt 7y agoThis presents no conflict with a healthy and free society.
- phatfish 7y agoSure, if it is correctly regulated to have no more leverage on our lives than a fancy marketing strategy. If not then I see a lot of problems with handing even more power from democratically elected governments to the corporate black box.
- conanbatt 7y agoAnd if it is incorrectly regulated?