Facebook’s Crypto Strawman


This is their first attempt after all…

alexdanco.com

If you haven’t heard already:

Welcome to Libra | Facebook
Facebook announces Libra cryptocurrency: all you need to know | Josh Constine, Techcrunch

I mean, hey, good for Facebook for… going for it, I guess? After two-plus years of being called all sorts of nasty names – a threat to democracy, a nest of lies, a horde of children playing run-the-universe, you get the idea – Facebook has announced their newest plan to get everybody mad at them: they’re launching a new cryptocurrency / payments product for their users around the world. They call it “A simple global currency and financial infrastructure that empowers billions of people.” And it’s called Libra.

The actual mechanics of the Libra blockchain protocol are a real Rorschach test: whatever it is you already thought Facebook was doing, you’re probably going to keep thinking that, but armed with more talking points: 

  • Libra is a private…

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