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2019-06-21 12:23 71521379 Anonymous (190618091058-facebook-libra-exlarge-169.jpg 780x438 28kB)
Am I the only one here who actually read and could understand the white paper here?
This is a nightmare
6 min later 71521435 Anonymous
>>71521379
You are correct Anon, you basically are the only one, and yes it is a nightmare.
28 min later 71521586 Anonymous
>>71521379
What happened?
Link the paper and redpill me, sensei
30 min later 71521602 Anonymous
How is this not dystopian? It's not bitcoin, it's not really decentralized (not open, not censorship resistant--it may be "independent" of FB, but it's not an open blockchain like bitcoin), and all the voting partners are corporations...i.e. dictatorships. Currency is the basis of government. So these consortium of corporations is our new world government?
35 min later 71521632 Anonymous
>>71521602
This is the endgame of capitalism. Get ready for a whole slew of libertarian bootlickers explaining how this is actually a good thing.
37 min later 71521649 Anonymous
whats this?
41 min later 71521680 Anonymous
>>71521649
OwO
44 min later 71521702 Anonymous (1533057779701.jpg 415x454 99kB)
>>71521586
https://libra.org/en-US/white-paper /
>>71521379
I'm a brainlet but it just skimming through it made me think that the actual currency is backed by what is most likely facebook stock (or jew gold, they didn't give specifics.) Seemed like a thing that would only work if people wanted it to, and people are already on the edge with facebook right now. Don't think anyone would willingly buy some meme currency if they don't see the actual (or perceived) value of it.
45 min later 71521706 Anonymous
>>71521379
I don't know about America, but here in Bongland Mark Carney has just released a statement saying to the effect of "lol no". As soon as Facebook floats this it's going to get eviscerated by European legislation (not just EU obviously, more like the wider approach European governments have to US corporate bullshit)
45 min later 71521707 Anonymous
>>71521379
If you could understand it, you might as well give those who couldn't a tl;dr.
46 min later 71521718 Anonymous
>>71521379
>make a new rust clone for proper linear logic
>still unsafe and without the proper guarantees like an F* would provide
wwwwwwww
51 min later 71521746 Anonymous
>>71521649
stop touching my bulge
51 min later 71521749 Anonymous
>>71521602
They will push to outlaw cash by 2030
54 min later 71521767 Anonymous
>>71521632
The worst part is that far left SJW will do a complete 180° when it comes to capitalism and support this because it encourages "healthy conversations" and they can de-platform whoever disagrees with them
57 min later 71521787 Anonymous
So wheres the tl;dr?
57 min later 71521789 Anonymous
>>71521379
t seething bitcoin cuck
57 min later 71521796 Anonymous
>>71521702
>people are already on the edge with facebook right now
Intel is pushing hardware with surveillance embedded within for more than 10 years. And people just don't give a fuck, you're being naive to think that the general population won't accept this new form of surveillance/control.
58 min later 71521797 Anonymous
>>71521702
Do you have any idea how fiat currencies work? Fucking retard.
59 min later 71521803 Anonymous
>>71521796
Not about security numbnuts, but as a "ah wow I feel so FREE" normie bullshit.
>>71521797
No. I already said I'm a brainlet.
1 hours later 71521819 Anonymous
>>71521707
>If you could understand it, you might as well give those who couldn't a tl;dr.
>>71521787
>So wheres the tl;dr?
https://onezero.medium.com/thoughts -on-libra-blockchain-49b8f6c26372
1 hours later 71521855 Anonymous
so can i mine it?
1 hours later 71521860 Anonymous
>>71521787
>privately issued fiat currency
>transactions run on private network just like mastercard or visa
>the blockchain serves as unalterable long term backup of transactions, there is no mining
Saying it is a cryptocurrency is just a marketing scheme. There is nothing inherently crypto about it, in fact it could work with no blockchain at all.
https://en.wikipedia.org/wiki/Libra _(cryptocurrency)
1 hours later 71521892 Anonymous
>>71521855
>so can i mine it?
No
1 hours later 71521904 Anonymous
>>71521860
It's not a chain and has no blocks
Lol
It's just an append only mergle tree
Too bad /g/ only understands Nvidia cards for gaming rigs and fizzbuzz code
1 hours later 71522077 Anonymous
>thread gets technical
>Noone can follow
Classic /g/
1 hours later 71522094 Anonymous
>>71521706
Based leaf banker. Btfo those amerimutts and their buttcoin scams.
1 hours later 71522095 Anonymous
>>71522077
>what are timezones
1 hours later 71522129 Anonymous
>>71521379
No need to read a white paper to see this is really awful
1 hours later 71522132 Anonymous
>>71522077
Its early as fuck you cunt
1 hours later 71522133 Anonymous
>>71521379
>New programming language called "Move*.
>Used only for transactions.
Excuse me but what the fuck? Talk about unnecessary.
also
> "... A new global currency which will be fully backed with a basket of bank deposits and treasuries from high-quality central banks."
> high-quality central banks.
top fucking kek. Imagine this system implemented in their beloved 40yo Cobol software.
1 hours later 71522144 Anonymous
>in app currency, but with the words crypto slapped on it.
So what is actually the big deal?
1 hours later 71522146 Anonymous
>>71522095
>>71522132
Americans are fucked whether this happens or not
1 hours later 71522179 Anonymous
>>71522144
>" Enable a simple global currency".
there is the big deal.
1 hours later 71522201 Anonymous
>>71522144
>>in app currency, but with the words crypto slapped on it.
>So what is actually the big deal?
New world order
A single coin worldwide
No cash
No privacy
They can freeze your account based on your online posts
No cash means you're SOL
1 hours later 71522288 Anonymous
>>71522201
How is that different from any other meme in-app or in-game currency then? All this is is just faceberg trying slap buzzwords onto a new service.
1 hours later 71522311 Anonymous
>>71521767
>The worst part is that far left SJW will do a complete 180° when it comes to capitalism and support this because it encourages "healthy conversations"
nigger i realize that you hate esjaydubyas and want to stick it to em, but nobody on the actual left will support a global currency controlled by megacorps
1 hours later 71522341 Anonymous
>>71522288
Corporate jews can actually force population into using it.
1 hours later 71522359 Anonymous
>>71522311
they're supporting every other nefarious quasi-governmental action by massive corporations
1 hours later 71522362 Anonymous
>>71522288
>How is that different from any other meme in-app or in-game currency then? All this is is just faceberg trying slap buzzwords onto a new service.
Negro look at OP list of partners
Every major Jew company is on this including visa and MasterCard and Facebook has 2 billion users, plus WhatsApp and Instagram
2 hours later 71522391 Anonymous
>>71522359
i think you're confusing leftists with neo-liberal faggots concerned with identity politics
2 hours later 71522414 Anonymous
>>71522391
the left were transformed into neoliberals beginning in the later weeks of occupy wall street and then through the next 5 years of saturation identity politics and corporate PR
they will support every bit of corporate bullshit as long as it harms you. they hate you.
2 hours later 71522474 Anonymous
>>71522414
stop considering only USA
left, liberism, liberalism, etc. still have meaning in the first world (aka Europe)
2 hours later 71522478 Anonymous
>>71522414
that makes as much sense as saying fascists and neo-nazis were transformed into neocons and moderate republicans because trump became president
hardline leftists/rightists don't just abandon their ideals and become politically moderate because of the message in mainstream media
2 hours later 71522485 Anonymous
>>71522391
neoliberals are on the left
2 hours later 71522519 Anonymous
>>71522485
on social issues, maybe. on economical issues (which a global currency definitely is), they're supporters of free market capitalism.
2 hours later 71522536 Anonymous
>>71522474
i'm english
>>71522478
never said they became politically moderate
2 hours later 71522546 Anonymous (FINTECH 06.jpg 4032x3024 1053kB)
>>71521796
> TFW you realize your cpu is spying on you
> TFW you realize its a special part of the cpu
> TFW you realize what TEEs are
> TFW you realize TEEs = Intel SGX
> TFW you realize Intel SGX = Town Crier
> TFW you realize the TC logo symbolism
> TFW ChainLink bought Town Crier
2 hours later 71522557 Anonymous
>>71522519
there are thousands of pundits who spout white-bashing and celebrate corporate malfeasence as long as it hurts "racists", and then give the usual lip service to socialism. all these luxury communism/late stage capitalism people are exactly the same.
2 hours later 71522576 Anonymous
>>71522474
Lol, we're on the same path as the USA.
You must be deluded to think otherwise.
>>71522478
No true scotsman.
Many do abandon their 'ideals' when it comes to such things.
2 hours later 71522704 Anonymous
>>71521702
>the actual currency is backed by what is most likely facebook stock (or jew gold, they didn't give specifics.)
I read an article which said it was backed by a pool of currencies. So basically they will have an account somewhere with dollars, euros, chink money etc and that's how they will control the rate of inflation by either selling or buying more currency as their price fluctuates.
I don't know if users would ever be able to cash out though because that would be a bureaucratic nightmare and they would need to go through the whole know o-your-customer process similar to what paypal does when you open a business account with them.
2 hours later 71522744 Anonymous (goodgoy2.gif 501x504 10kB)
>>71522704
The [Libra coin] reserve is the key mechanism for achieving value preservation. Through the reserve, each coin is fully backed with a set of stable and liquid assets. The Libra coin contract allows the association to mint new coins when demand increases and destroy them when the demand contracts. The association does not set a monetary policy. It can only mint and burn coins in response to demand from authorized resellers. Users do not need to worry about the association introducing inflation into the system or debasing the currency: For new coins to be minted, there must be a commensurate fiat deposit in the reserve.
2 hours later 71522755 Anonymous
>>71522557
>there are thousands of pundits who spout white-bashing and celebrate corporate malfeasence as long as it hurts "racists", and then give the usual lip service to socialism
sure, but these people are simply hypocrites. those happen on both sides of the political spectrum.
>>71522576
>No true scotsman.
not really, it's just a matter of applying the definitions correctly. the problem begins when people start throwing around poorly defined, umbrella terms like "SJW leftist", which equal communists/anarchists/socialists with neo-liberals who happen to be into identity politics.
2 hours later 71522759 Anonymous
>>71522744
>we’re talking about events that are external to the network. As stated earlier in the white paper, the network is not able to execute scripts that use inputs of data that are external to the network’s state. Thus the modifiers “can” and “must” in the above snippet are surely referring to Libra Association policies or contractual obligations of which the network is unaware.
2 hours later 71522763 Anonymous
>>71521379
why do k*kes have to appropriate everything and turn it into literal shit?
2 hours later 71522771 Anonymous (goodgoy.png 600x600 184kB)
Is AML/KYC required?
Apparently it’s not required at the protocol level, but the Calibra wallet states that all users will be verified via government-issued ID. It also sounds like the Calibra wallet will be the only available wallet for a while at least, so it’s unclear if developers and users can run apps on the Libra network that don’t abide by the same standards as Calibra.
2 hours later 71522786 Anonymous
>The system is designed to have low fees during normal operation, when sufficient capacity is available.
This is really vague and raises many questions: What are low fees? What is normal operation? What is sufficient capacity?
2 hours later 71522800 Anonymous
>How does governance work?
We can see here that the Libra Association is a council of members and a 2/3 supermajority is required to make changes. They are the only ones allowed to mint or destroy Libra coins, but they can presumably make any change they want if there is sufficient agreement.
2 hours later 71522847 Anonymous
“Libra is an attack on my financial privacy!”
*opens bank account”
“They are going to see what I spend my money on”
*signs up for credit card*
“They are going to create a social credit system for the US!”
*checks credit score*
“Social media companies are digusting”
*tweet*
2 hours later 71522848 Anonymous
>>71522800
>yeah uh, we'll need to exceptionally print a few billion Libra to uh, maintain the value of the Libra uh, it's quantitative easing, you wouldn't understand, uh, but we're giving it to the good guys like jpmorgan chase, mastercard and wells fargo so uh, you'll benefit from it, uh, your finances are in good hands
2 hours later 71522866 Anonymous
>>71522848
"it will trickle down"
2 hours later 71522880 Anonymous
>>71522847
*misses the point of cryptocurrencies and decentralized technologies*
2 hours later 71522892 Anonymous
>>71522880
>decentralized technologies*
not libra
2 hours later 71522894 Anonymous
>>71522362
I still don't see the distinction.
2 hours later 71522906 Anonymous
>>71522894
>I still don't see the distinction.
because you think the whole world uses dollars
2 hours later 71522920 Anonymous (D9cBilLWsAAMz_f.jpg 572x1024 53kB)
Introducing Libra Stories.
Libra Stories allow you to share photos and videos of you spending your Libra on coffee, movie tickets, lobbying fees, data analytic firms, dinner, with your friends that will be available for 24 hours.
2 hours later 71522924 Anonymous
>>71521632
Those libertarians are dumb. A real one would be against this shit as well.
2 hours later 71522926 Anonymous
>>71522894
Just a move as part of a number of coups around the World, including the US of A, nothing to worry about.
2 hours later 71522940 Anonymous
>>71522924
>libertarians are dumb
Could have left it at that.
2 hours later 71522946 Anonymous
>>71522892
>not libra
yeah no shit.
>we want a global coin
>but wait, WE (facebook) have to control it
2 hours later 71522947 Anonymous
>>71522924
>a real one would be against this shit as well
no, they wouldnt. libertarians are fine with anyone jewing the shit out of them and putting them in de facto slavery as long as it isnt the government
2 hours later 71522949 Anonymous (D9X3lhJX4AApfJu.jpg 1100x1100 68kB)
nothing to see here
2 hours later 71522959 Anonymous (D9X3m6MXkAAiF7I.jpg 260x275 21kB)
2 hours later 71522975 Anonymous (D9X3mPKWsAA6Tuz.jpg 339x500 26kB)
just coincidence
2 hours later 71522989 Anonymous
When can I buy. Didn't read the white paper because they racist af
2 hours later 71522996 Anonymous
>>71522989
>because they racist af
how so? please elaborate.
2 hours later 71523016 Anonymous
>>71522996
Cuz they white n hard 2 read n shit. u tryna buy a worn once bape belt? $240 drop off fo free
2 hours later 71523050 Anonymous
>>71523016
go back 2 skool nigga
2 hours later 71523120 Anonymous
>>71522975
What is the snake supposed to represent?
2 hours later 71523136 Anonymous
>>71523120
read a bible
it's the first goddamn chapter
3 hours later 71523177 Anonymous
>>71523136
What I specifically mean is the snake coiled around the tree in this fashion.
If I were to believe they got inspired by the coin depicted here >>71522959 it seems that it is older than the bible.
3 hours later 71523182 Anonymous
>>71523136
What is the snake supposed to represent?
3 hours later 71523188 Anonymous
>>71523177
the bible is a recollection of even older myths
3 hours later 71523225 Anonymous
>>71521767
>>71522288
>The Jew defends his scheme
3 hours later 71523254 Anonymous
Someone need to blow up facebook hq
I mean this seriously
I am 100% advocating straight up terrorism and the death of Facebook employees
3 hours later 71523271 Anonymous
>>71523182
A serpent
3 hours later 71523278 Anonymous
>>71523254
>Someone need to blow up facebook hq
they have several datacenters, with redundancy
you need a worldwide coordinated plan to strike at the same hour
3 hours later 71523316 Anonymous
>>71523278
>you need a worldwide coordinated plan to strike at the same hour
Challenge accepted
3 hours later 71523325 Anonymous
>>71522975
thats not how snake work.
>>71522959
this is how you correctly snake.
3 hours later 71523328 Anonymous
>>71523316
noted.
t. every 3 letter agency in the world.
4 hours later 71524183 Anonymous
Bump
4 hours later 71524259 Anonymous
>>71523120
Temptation.
4 hours later 71524312 Anonymous
Bump
5 hours later 71524339 Anonymous
>>71522847
Absolute boomer take
5 hours later 71524408 Anonymous
>>71522771
>Is AML/KYC required?
no Facebook already has all your data
> It also sounds like the Calibra wallet will be the only available wallet
ah yes the ecosystem is rich /ironic
5 hours later 71524721 Anonymous
>>71524408
>no Facebook already has all your data
they never asked me a govt ID scan
yes I know they know everything, but formally it will start to be required
3.172 0.109