Re:Facebook reveals its cryptocurrency Libra
by ThrustVectoring on Wednesday June 19, 2019 @11:25AM
(#20224165)
Yeah, in my book this is more of an attempt by a consortium of powerful companies to get a favorable regulatory regime for money transmitting. "Crypto" is only there to confuse regulators into making an exception.
Why does a cryptocurrency have to be resistant to outside control? Because otherwise there’s no reason to use it, since the existing networks run by Visa or the US dollar are more efficient and scalable. The value of bitcoin is in its equalization, no one person on the network’s voice matters more than another.