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by dahdum 1593 days ago
I disagree, Libra had absolutely massive potential with Facebook, Instagram, and WhatsApp behind it. Stabilized by multiple fiat currencies it would hold value well, and it could power a global Venmo (via WhatsApp), capture a large portion of the entire remittance market, simplify e-commerce payments, and maybe even support micro transactions at scale. I’m sure I’m missing other large benefits.

The West is mostly so far behind on payment processing it’s a joke. Stripe charges 2.9% + $0.30 while WeChat Pay is 0.6% and Alipay .55%.
1 comments
spookthesunset 1593 days ago
What the hell would be it’s point? Why would it need Satoshi’s Holy Blockchain? Nobody in the mainstream consumer space wants an irreversible cryptocurrency.

Why not just use a database?

FB picking up Libra is just another loop in the blockchain’s solution in search of a problem.

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aylmao 1592 days ago
+1, though I imagine the motivation was probably skipping regulation related to handling international payments or something along that line. Riding the blockchain hype couldn't have hurt too (until it did, I guess).
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dahdum 1592 days ago
> Nobody in the mainstream consumer space wants an irreversible cryptocurrency.

Venmo and Zelle are both irreversible and mainstream but can't be used globally.

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