7 ms·

I'm no fan of FB or Libra, but I don't get it, how is that any worse than existing system? Banks charge huge interest rents and pass only a tiny (or zero) on to

• pjc50 7y ago
  Interest rates are lower than at almost any time in history. They're usually strongly linked to default risk, which is why mortgages are about 2% but credit cards in the 10-20% range. But none of that is applicable to cryptocurrency, which doesn't really have a credit infrastructure at all and instead is trying to replicate something closer to negotiable bearer instruments. Transaction fees are a real thing, but essentially that covers keeping fraud out of the system. In cryptocurrency that's your problem, and many of the "solutions" are riskier and in the end more expensive.
• Nursie 7y ago
  > in addition to fees that make all our products more expensive There's a decent argument to be had that they make products cheaper. What, you didn't think it was free to handle cash, did you? It takes time and effort to do that. So much time and effort that a lot of smaller places are going card-only here in the UK so they don't have to deal with cash.