Quote from: Carlton Banks on December 14, 2020, 09:10:30 AM

Quote from: cr1776 on December 13, 2020, 10:53:04 PM

I'd also add that Facebook's coin "Diem" (not Libra)*** might as well just be an entry in a database for all the "innovation" it brings. It is centralized, censorable, blocked at a border, tied to fiat, can be frozen at the whim of whatever government can pressure FB. It might just be that FB not liking what you are posting or disagreeing with you. As the last few years have shown, these huge companies (FB, Twitter etc) are behold to the governments and political parities. Do something they don't like, "well your coins are frozen and you can't move them or cash out. Recourse? None since they aren't regulated banks." Members of the association will be able to see, extract and analyze the items in the Diem ledger - think they are following you now with cookies? Then they'll be able to also track what you spend your coins on.

this

the whole concept of money is about ownership, money is simply an imaginary piece of the real pie. Everyone pretends the money is as good as something with real value; it's a universal mirror of your stake in the economy, a token of ownership.

so if someone else can control how you spend your money, then it's not really yours. People trade their labor for money, and the fewer choices you have with which to spend it, the more that your labor is essentially controlled by that someone else.

traditionally, when someone controls how, where or when you work, or what you can trade it for, your role in that relationship has a specific name....

It can also be argued that Paypal is doing their adoption of bitcoin similar to the centralized controlled facebookcoin but worse. Paypal wants to control our money while much of the people in the community celebrate and argue that this is adoption.