Re:France and Germany Agree to Block Facebook's Libra
by buboard on Saturday September 14, 2019 @04:32PM
(#20973576)
Libra is meant to be safer and better than a bank. Seems almost impossible to fail, it has 100% reserve backing while banks have < 2% in europe. It supports instant payments even in the most remote regions of the eart. It will be a terrible competitor for banks, if it works. The problem is that it s backed by a conglomerate that is too big to trust.
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Re:France and Germany Agree to Block Facebook's Libra
by viraptor on Saturday September 14, 2019 @04:51PM
(#20973701)
I'll take regulated 2% over promised 100%. Otherwise we get another Tether story: https://cointelegraph.com/news/fractional-reserve-stablecoin...
Re:France and Germany Agree to Block Facebook's Libra
by tripzilch on Monday September 16, 2019 @08:15AM
(#20983274)
It's also backed by a conglomerate that simply hasn't been around long enough to be safer than a bank.
Yet in its short lifetime, Facebook has been able to prove itself very untrustworthy towards consumers.
It's not too big to trust, it's just untrustworthy. The fact that it's also big, makes trusting it an even worse idea.
Re:France and Germany Agree to Block Facebook's Libra
by lostjohnny on Monday September 16, 2019 @04:49AM
(#20982192)
> It supports instant payments even in the most remote regions of the eart
no, they don't.
still need an internet connection and two person with a libra account.
Anyway, you can do the same thing with paypal...