Topic: Some thoughts on Libra (Read 125 times)

I was looking for places to post my content and hope that this is okay.
I do a walkthrough of the Libra 'lite' paper in this video: https://youtu.be/DNBY6E13iZg

But if you don't want to watch the whole thing, here were some thoughts I had:


-Had to look up byzantine fault tolerance. I'm a more than average but not very technical person.
-It's absolutely not going to just become permissionless when it's not starting out that way
-It's a terrible idea...
-It will probably do well because most people people care about convenience and it might help solve a real-world problem like remittances, probably do it well in terms of mechanics and user interface, and if the government let's them, I'm sure Facebook will do a good job.
-It's basically the establishment (in the finance and tech industries) attempting to maintain dominance and capitalize on ground-breaking technology, which is only what an adept business would try to do.
-I didn't realize there was a watered down version of a whitepaper until finding this.
-It seems like a lot of theory, especially with their programming language and hoping to become more decentralized in the future. It might take much longer than they expect. The five year projections seem baseless.
-A lot of it is up to devs willing to work with them and they can probably attract with $$$.



I hope it doesn't take off but I think it could. The recent hearings I think are a double-edged sword with more awareness of the potential for a different understanding of money, but also attention from the govt. Also a lot of the congresspeople were quite condescending.

More thoughts in the video, but that's a rundown. I wish I could have bulleted the list above.