It's dead in the water I think https://www.zerohedge.com/markets/paypal-pulls-out-facebooks-libra-cryptocurrency-network
Facebook's Libra stablecoin project is imploding.
Just days after the Wall Street Journal reported that credit card titans Visa and Mastercard, who had initially agreed to back Facebook's Libra, are reconsidering their involvement following a backlash from U.S. and European government officials, late on Friday e-payment giant Paypal also announced it was withdrawing from the group of companies Facebook had assembled to launch the global cryptocurrency-based payments network, dealing a blow to the social-media giant’s ambitions to overhaul financial services.
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Here's my take on it:
It's a good thing that this project is practically dead now, just because zuckerberg
Also, it's obvious something made them tilt, that project threatened established interests, big ones, and not just because it's zuckerberg or because muh moral values
https://www.zerohedge.com/crypto/does-libra-threaten-monetary-sovereignty
The entire financial shitshow is so weak that shitcoins are somehow potentially an existential threat to it, IMO
I believe the blind spot is the decentralized+anonimity part of things
Look at web servers, and dailystormer controversy
As long as you have a top down chain of command, pyramid like structure, you have a switch off at the top, you have control (over speech in that instance, no web service no speech), so you tell Dan at paypal, Mark at fb, David at whatever... to shut them down and it works, mostly
Why? Because you know who they are you know where they are, you can't attack something you can't perceive, you need a trace, a signal anything to spot it, because if you can't you're fucked
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And we both know that the ultimate strategy against this entire neo feudal global garbage, is non participation; They need us for everything, they need our consent (votes), they need our money/labor time, they need our compliance, they need our kids, they need our cash, everything
They are parasytes, "we" are the host
Without our taxes what's a government? A bunch of loons pretending to still be relevant
A decentralized anonymous currency that goes mainstream?
How do you tax it? You can't. The gov becomes as irrelevant as an abram tank running out of fuel and ammo. At best all what the crew can try to do is to pretend they are still relevant somehow while hiding behind it. That's what the gov is reduced to ultimately, when it can no longer grab tax money, an irrelevant system for the most part, obsolete, and the gov is the tax money provider for the banks and then the rest of it
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