Libra: The Central Bank of Facebook
June 18th, 2019This is hilariously stupid.
Via: ZeroHedge:
It won’t, however, be a cryptocurrency in the traditional sense. It won’t have a limited supply, defined inflation rate or any commodity character whatsoever.
Proof-of-work? Phsaw! Every good Friedmanite knows that opportunity cost in creating new monetary units is simply wasted capital!
Only mouth-breathing rubes stuck in the 19th century think that’s important.
Instead Libra’s supply will be regulated just like every other fiat currency, by a central authority. Facebook already wants all your data, whether you’re an account holder or not.
Now they want to control your currency as well.
More: “Facebook Will Make the Money Now”
