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> The plan is to build a ledger that no single party (or coalition of parties in a single legal jurisdiction) has the capacity to edit or alter, and to make suc
by robbya 7y ago
> The plan is to build a ledger that no single party (or coalition of parties in a single legal jurisdiction) has the capacity to edit or alter, and to make such alterations so technically challenging that it's beyond the capacity of any single court or legislature to do so.
I'm not seeing why they need a new cryptocurrency for this. If you grow Bitcoin (or any other existing cryptocurrency) to be "too big to fail", it would also have all these properties. Is starting from scratch with zero users easier?
- buboard 7y agoI think the idea is to have a US-controlled currency before some chinese-controlled currency catches on , particularly in Africa
- swensel 7y agoIf the US supported cryptocurrency, particularly Bitcoin, instead of considering regulation, we could keep up with innovation at least, instead of having other countries leave us in the dust in terms of developing the technology.
- stale2002 7y agoBitcoin has some pretty significant drawbacks. The main one being that it is severely limited in the number of on chain transactions that it can do. And that the proposed "solutions", such as the Lightning Network, to this are nowhere near completed (and have indeed suffered from doomsday "someone can steal all my money" type bugs as of recently)
- wmf 7y agoIf Libra is integrated into Facebook Messenger as planned it would have more users on day one than Bitcoin has after a decade.
- robbya 7y agoI get that, but if Bitcoin is integrated into Facebook messenger then it would also see a huge boost in users.