Bitcoinist reported:
SO WHY
IS CHINA[ARE CHINESE] LOOKING TO FACEBOOK FOR CRYPTO?[…]
Perhaps the interest from China comes because even Facebook’s strict KYC (know your customer) measures are preferable to the alternative. As Bitcoinist reported in March, Chinese authorities have begun to implement measures whereby fines can be forcibly extracted from WeChat Pay accounts for offences such as jaywalking.With increasing use of facial recognition, the Chinese government can effectively track and control its citizens’ financial sovereignty.
But is it really better to have Facebook and its motley band of ‘partners’ in control? Or, you know, perhaps consider the truly decentralised, permissionless, trustless route to self-sovereignty that is Bitcoin?
@colosseum wrote on Corbett Report’s vlog (more discussion over there):
Interesting parallel between Facebook and an independent nation with its own currency:
The idea of comparing the Internet to a nation (with the usual unaccountable and unelected bunch of oligarchs at the top of the pyramids) has also been echoed by Jack Dorsey:
https://qz.com/1642172/jack-dorsey-on-bitcoin-facebooks-crypto-and-the-end-of-cash/
@HairyMaclairy wrote:
Libra is going to be fighting a regulatory hornets nest […] You can’t just tell the US government you are going to break every law in the book and expect them to roll over. Not unless you control the government.
Have you ever heard of In-Q-Tel and its relationship to Fedbook.
How much kompromat do you think Fuckbook (or moreover the Five Eyes) has on every politician?
Connect the dots folks.
@hornetsnest wrote:
A fine proposal : https://blog.saturn.network/on-chain-kyc-is-coming/
...fireside chat with Satan..."Adam and Eve had the finest UBI offered to them until they went and bit into that apple"
"Universal Basic Income is Faust's poodle etc etc."
.... Now all will be able to join the trendies and spend their bits on a frothy one too.Tasty inclusiveness 😀
RE: Facebook’s Libra + Bitcoin + Trump + Israel = 666 Orwellian Dystopia