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You forgot the part about being able to conjure money out of thin air, loaning the conjured money and then collecting interest on the loaned money. Decentraliz
by 0x445442 7y ago
You forgot the part about being able to conjure money out of thin air, loaning the conjured money and then collecting interest on the loaned money.
Decentralized, open ledgers are the future and these folks are terrified their Golden Goose's days are numbered. And of course there's the implications the current system, and the push to get rid of cash, has on personal freedoms.
- delfinom 7y agoExcept Libra's entire scam was a. It was backed by the fiat put in b. They would collect all interest on the fiat for themselves, users did not see any kind of interest for holding the balance
- 0x445442 7y agoYeah, I'm not advocating Libra, just blockchains and crypto in general.
- codyb 7y agoExcept you can’t just conjure money up out of thin air while also doing a good job with your mandate of keeping inflation low. This is such a silly argument that really holds no water in the real world.