4 ms·

RIP Zuckbucks ️ This removes a huge part of the mainstream rationale for digital alternative currencies.

• FourScore 7y ago
  Which in itself is one of the biggest rationales for developing such a system. The Fed really has a third unspoken directive: maintain dollar supremacy.
  • thinkloop 7y ago
    Not so unspoken, Mnuchin on July 15: "Treasury takes very seriously the role of the US Dollar as the world's reserve currency, and will continue our efforts to protect our country". https://m.youtube.com/watch?v=zAICzg8ir50&t=370&feature=youtu.be https://m.youtube.com/watch?v=zAICzg8ir50&t=370&feature=yout...
• bhl 7y ago
  Maybe in the United States, but I would still wager there would be interest for a Facebook's digital currency in countries with more volatile, native currencies.
• faceyspacey 7y ago
  My guess is Libra (and everything else going on in the crypto world) will have 5 years before FedNow is out. A lot can happen in that time.
• Proven 7y ago
  Wrong. Libra can still provide hassle-free currency access from within supporting apps and Web sites. Also it can provide "free" transactions whereas FedNow won't be free. For 99% of legal money senders this removes the need to consider Bitcoin or most shitcoins. The only use case left for crypto, which Bitcoin itself has somewhat neglected, is anonymous uncensored payments. And that's the one that doesn't work because it's extremely hard to get in and out without being noticed.