Facebook's Libra digital currency

[cptmidnight]

Cryptos are nothing more than unbacked fiat currency for geeks.

What is your point? I am guessing you use unbacked fiat every day.

[Bear]

Crypto’s value, if that is an applicable term, is in their anonymity. This farce (book) crypto is the opposite, assuring detailed tracking and data mining for its users. Only a fool would use this.

[moestooge]

What is your point? I am guessing you use unbacked fiat every day.

The point is simple. Crypto is just a trendier version of the fiat FRN.

[cptmidnight]

The point is simple. Crypto is just a trendier version of the fiat FRN.

And, of course, Reserve notes are just a trendier version of Precious metals. All three (PM's, cryptos, and FRN's) have subjective value. The latter two are used for everyday transactions. Still not sure on the point...

[Pastor Guest]

Mastercard Weighs in on Libra, Facebook’s Cryptocurrency - Paymentweek

Mastercard noted that it had been “looking at blockchain” for some time, gathering an understanding of the technological issues behind the phenomenon and trying to apply these accordingly. It’s launched several pilot programs and filed several patents...

Indeed, some corners of social commentary are already describing Libra as a totalitarian measure in the making; “the mark of the beast” has even been bandied around.

https://paymentweek.com/2019-6-25-ma...payments-jump/

[captlid]

Very interesting on the block chain uses.

Bitcoin provides two things that current banking systems don't. Hassle free Cross border transactions, and a way to transact without dealing with your govt.

It's also very hard for authorities to easily confiscate, because you're not tied to a government id number. You can have as many bitcoin wallets as you want.

Its volatility is the only thing I think that is really preventing its use as a day to day currency. Unless you just ignore it's value in relation to other fiat currencies and just use it purely as you would dollar bills. But people don't try to use bitcoin as a day to day transaction currency. Which was supposed to be one of its original uses.

You don't care what the relative value of dollars are to euros or pounds as a regular joe. You care about the relative value of your dollars to the price of gas, food etc...