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by gjulianm
2468 days ago
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Using Libra is morally questionable as you're giving away currency and economy control to a bunch of private entities motivated by profit and accountable to no one. >Best thing you can do is to make a law that forces banks to prevent payments to known Libra sellers, but again if there is value in Libra this hardly makes a difference. It does make a gigantic difference. They don't need to ban all of the Libra exchanges, just the big and knowledgeable ones, and go around banning anything that goes too big, so that people who want to retrieve EUR from Libra need to search a lot and comb through exchanges to see who's trustworthy. That makes using Libra a hassle, and if there's not a lot of adoption of Libra and it doesn't reach a critical mass, the currency becomes useless. > if there is any benefit of having some Libra people will have it That's a big if. |
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You skipped the part where I detail how underground markets already get past this. To reiterate here: banks can ban money transfers to the biggest exchange, but people can simply use PayPal, Bitcoin, Cash, or even gift cards to transfer the money.
Sure this will drop the most casual of users off, but again if there is value in Libra that hardly matters.
>That's a big if.
You need to realize that because someone is poking holes in what you believe doesn't mean they are completely against you. I have and probably will not advocate for anyone to use Libra. I have no Libra and I probably never will have any. I don't trade with any currency, I'm only interested in Bitcoin and other blockchain currencies as technology enthusiast.
I feel like people on the Internet often forget that the world isn't black and white. Just because I don't agree with one of your views doesn't mean I don't agree with the rest.