Quote:
Originally Posted by Thorondor
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Sure buddy. That must be why the DNC is in a panic, with intents to regulate the living shit out of Libra to ensure the government can rake their cut while determining the rules and methodologies it uses to throttle growth so that it cannot outpace conventional financial markets.
Libra is going to get regulated to pointless-ness before it ever even hits the market. If you're looking to make gains off the radar, Libra won't fit that bill, either, as they're aiming to make it entirely tracable and transparent for tax purposes.
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Stupid ass libertarians. These things are regulated for a reason. Facebook is going to sell your financial data to all the other corporations who will quickly gain an omniscient view into the financial data of everyone who uses their currency, including what prices they can afford, are willing to pay, etc, to better collude to fix prices, etc.
This is precisely why banks have been forbidden from participating in other forms of commerce for the last century in the US. Most people believe you shouldn't have to compete against your bank.