Libra Shrugged — Chapter 6: Banking the unbanked
A book excerpt! Cryptocurrency promoters never detail how they’re actually going to “bank the unbanked.” What would they need to do?
Tag: david marcus
A history of Libra’s predecessor, Messenger Pay — the first version of Facebook Pay
You may be on Facebook lots — but would you trust Facebook with your money? For most people, the answer was “no.”
Facebook’s Libra was dead as of July 2019
As soon as a blockchain scheme gets in front of the adults — it’s dead.
News: not Craig Wright’s bitcoins, how Tether flows, Goldman Sachs spurns Bitcoin, Calibra is now Novi
“Craig Steven Wright is a liar and a fraud. He doesn’t have the keys used to sign this message.”
Facebook’s Libra national currency plan isn’t new — it was always the fallback plan B
Revamps are in the air, because Libra still can’t get its bad idea past the regulators — the same ones who said “LOL, what on earth, absolutely not” within hours of Libra’s initial announcement last June.
News: 2020 predictions, ICO fallout, Craig Wright, Qatar and Uzbekistan block cryptos, Bitcoin and censorship, Libra
The Bitcoin white paper’s elegant simplicity only exists in a perfectly spherical monetary system in a vacuum at absolute zero.
News: Libra stumbles on, Bitmex leaks customer list, Crypto Capital Corp arrest and indictment, Tether appeal, Blockchain for China, Kleiman v. Wright settlement fails, Telegram tokens delayed, UK tax for cryptos
“BITCONNECT SAID TO EXIT LIBRA CONSORTIUM FOR FEAR OF BAD PRESS”
News: EOS settles with SEC, PayPal dumps Libra, digitised gold, Coinbase triples fees, Bitcoin Foundation is dead
PayPal “remains supportive of Libra’s mission” — so that’s nice.
David Marcus responds to nations’ concerns about Facebook’s Libra — with shallow platitudes
What are some of the ways things could go bad if Libra gets huge — even given Marcus’ responses?