Quote from: thirdprize on July 15, 2019, 11:05:09 AM

Sorry to disrupt your little echo chamber here, but ...

Quote from: RodeoX on June 21, 2019, 06:25:55 PM

I thought it might be valuable to point out some of the key differences between FaceBooks new Libra coin and Bitcoin. They are certainly not the same. The greatest features of bitcoin center around its decentralized network.

Libra is:

A currency that ties not only your basic identity to your money, but includes all the details found on your FB, instagram, WhatsApp, and other social media. A near perfect coin for stealing your identity.
False. Only if you use the wallet that will be built into Facebook. If you use another wallet then they won't have any info on you.

Owned by a banking cabal including PayPal, MasterCard, FaceBook, Andreessen Horowitz, etc. Users may use their coins if they follow all rules required by the owner companies. Users must also accept that these rules may change at any time for any reason the owner companies decide.
Partly. Backed by a bunch of big companies. The money they are putting up the money is equivalent to tethers imaginary backing funds. they will be in charge of swapping from fiat to libra and back.

A currency whos distribution, supply, and all other parameters are under the complete control of the owners. They can change the valuation or double the circulation. (Owners, not Users FaceBook and its partners are the owners of the money)
False. It is pegged to a basket of stuff (whatever that really means) so will stay at a fairly fixed value.

A currency that can be used at FaceBooks partner stores. It allows FB partners to pry into your spending habits in an unprecedented way. You may only use their money if they receive a cut of the money and all transactions are allowed only if FB decides it is okay for you to do.
What does that even mean? Wrong on so many levels I won't even bother with it.

A patch over an archaic banking system that is insecure, ridiculously slow, and very expensive.
True.

If you are going to argue then at least get your facts straight.

I think you did more justice to that topic in less words than anyone else could ever do. The initial post is Flaws and looks quite horrific. Those points alone would serve as a veritable tool to demarket cryptocurrency and blockchain. Thank you for setting the facts right

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