Regulators Have Doubts About Facebook Cryptocurrency, and So Do Its Partners

Re:Regulators Have Doubts About Facebook Cryptocurrency, and... by sedeki on Thursday June 27, 2019 @03:40AM (#20292444)

Given that Libra is not a real cryptocurrency (it requires trust), is this a way for them to plant FUD around bitcoin?

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Re:Regulators Have Doubts About Facebook Cryptocurrency, and... by codesushi42 on Thursday June 27, 2019 @04:01AM (#20292521)

>is not a real cryptocurrency (it requires trust)

Trustless is not a requirement for a cryptocurrency. PoS requires trust, but still would be a viable consensus mechanism for a cryptocurrency.

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Re:Regulators Have Doubts About Facebook Cryptocurrency, and... by davidnoble12 on Thursday June 27, 2019 @05:14AM (#20292855)

eh. This is an oversimplification. I dislike the concept of trustless anyhow. It seems to be misunderstood and misused. Libra is not censorship resistant. This is the major problem with Facebook controlling a large swath of corpokleptocurrency.

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Re:Regulators Have Doubts About Facebook Cryptocurrency, and... by codesushi42 on Thursday June 27, 2019 @03:11PM (#20297547)

Agreed on both points. The oversimplification was intentional, PoS is mostly theoretical right now.

Regardless, Libra still qualifies as a cryptocurrency, even if it's not trustless.

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Re:Regulators Have Doubts About Facebook Cryptocurrency, and... by foota on Thursday June 27, 2019 @04:03AM (#20292534)

How does PoS require trust?

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Re:Regulators Have Doubts About Facebook Cryptocurrency, and... by magnamerc on Thursday June 27, 2019 @08:50AM (#20293909)

delegated PoS requires trust. Pure PoS does not, which is analogous to PoW mining.

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