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  #1  
Old 06-18-19, 10:19 AM
Stirred not Shaken Stirred not Shaken is offline
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FB's Libra

FB announces new crypto currency : https://www.hindustantimes.com/tech/...eJxbIQMdM.html

Crypto is the future wouldn't be surprised in 10 to 15 years if most transactions are crypto based.
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  #2  
Old 06-18-19, 10:21 AM
cabezadecaballo cabezadecaballo is offline
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Quote:
Originally Posted by Stirred not Shaken View Post
FB announces new crypto currency : https://www.hindustantimes.com/tech/...eJxbIQMdM.html

Crypto is the future wouldn't be surprised in 10 to 15 years if most transactions are crypto based.
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  #3  
Old 06-18-19, 10:25 AM
Stirred not Shaken Stirred not Shaken is offline
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Originally Posted by cabezadecaballo View Post
Well being a jump on the band wagon Trumpeteer, I can understand how you are unwilling to embrace the future. But why would a business accept a credit card and be charged 2 % when their would be no charge with crypto.
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  #4  
Old 06-18-19, 10:34 AM
cabezadecaballo cabezadecaballo is offline
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Why would governments permit significant levels of crypto-commerce to proceed untaxed ? Why would people convert significant dollars to crypto if not skirting taxes ?


It will always be fringe unless there is a collapse. And at that point, your wealth likely vanishes. Then maybe we come back in a crypto arrangement, someday, sure. After tech infrastructure is restored.
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  #5  
Old 06-18-19, 10:38 AM
cabezadecaballo cabezadecaballo is offline
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And I was an early adopter of the Orange Blowhard, btw. He actually took the reins of our bandwagon. No one represented the real backbone of America for quite some time, and then a most unlikely and unlikeable Donald stepped up. Go figure. Go back and check if you'd like.

It's about the policies. The message, in spite of the messenger.

Pretty grown up concept, so little surprise that it escapes you
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  #6  
Old 06-18-19, 10:43 AM
Stirred not Shaken Stirred not Shaken is offline
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Quote:
Originally Posted by cabezadecaballo View Post
Why would governments permit significant levels of crypto-commerce to proceed untaxed ? Why would people convert significant dollars to crypto if not skirting taxes ?


It will always be fringe unless there is a collapse. And at that point, your wealth likely vanishes. Then maybe we come back in a crypto arrangement, someday, sure. After tech infrastructure is restored.
Their is no tax evasion. People are already using crypto it would be the same as any currency accept transactions will be quicker and probably more secure than a credit card without the cost. I believe you can pay Ohio taxes with crypto.

Last edited by Stirred not Shaken; 06-18-19 at 10:53 AM.
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  #7  
Old 06-18-19, 12:50 PM
OhioBobcatFan06 OhioBobcatFan06 is offline
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Taxation is theft
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  #8  
Old 06-18-19, 12:58 PM
cabezadecaballo cabezadecaballo is offline
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Originally Posted by OhioBobcatFan06 View Post
Taxation is theft
maybe


But it's the only way to get back any of what I've put in, so I'm all for it.


Tipping point is at about age 42. You'll be there soon enough, young man.
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  #9  
Old 06-18-19, 04:58 PM
Tardis Tardis is offline
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This totally misses the point of having a crypto currency or at least their original intention. Bitcoin is decentralized meaning no single entity controls it or can easily manipulate it. Crypto currency is supposed to be about taking power and control from governments and large corporations.

Libra is literally a group of large corporations who have said they are relying on government regulators to help the currency move forward. Bitcoin is limited to 21 million units while this will still be tied to (albeit less directly) fiat currencies and government regulations.

Hopefully, this just turns out to be more of a "PayPal 2.0" than an actual new currency moving forward. Or just a more secure, sophisticated version of Chuck E Cheese or D&B money that can only be spent at Facebook or Facebook affiliated vendors. I would venture something like this will only strengthen Bitcoin and other similar currencies.
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  #10  
Old 06-18-19, 06:31 PM
Crusaders Crusaders is offline
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No thanks
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  #11  
Old 06-18-19, 08:03 PM
OhioBobcatFan06 OhioBobcatFan06 is offline
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Quote:
Originally Posted by cabezadecaballo View Post
maybe


But it's the only way to get back any of what I've put in, so I'm all for it.


Tipping point is at about age 42. You'll be there soon enough, young man.
Iím 29. Wonít be 42 until 2032. According to current forecasts, social security will run out of cash reserves by 2034. If you think belief in the Ponzi Scheme will rise between now and then, youíre crazy. Savvy youngsters have utilized the recent tax bill to minimize their exposure to the fraud
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  #12  
Old 06-19-19, 07:58 AM
cabezadecaballo cabezadecaballo is offline
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Quote:
Originally Posted by Tardis View Post
This totally misses the point of having a crypto currency or at least their original intention. Bitcoin is decentralized meaning no single entity controls it or can easily manipulate it. Crypto currency is supposed to be about taking power and control from governments and large corporations.

Libra is literally a group of large corporations who have said they are relying on government regulators to help the currency move forward. Bitcoin is limited to 21 million units while this will still be tied to (albeit less directly) fiat currencies and government regulations.

Hopefully, this just turns out to be more of a "PayPal 2.0" than an actual new currency moving forward. Or just a more secure, sophisticated version of Chuck E Cheese or D&B money that can only be spent at Facebook or Facebook affiliated vendors. I would venture something like this will only strengthen Bitcoin and other similar currencies.
So, the clown that manipulates search parameters from political motivations and pimps out all of his customers private info for cash is starting an unsecured currency that is "about taking power and control from governments and large corporations".

Got it.



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  #13  
Old 06-19-19, 08:00 AM
cabezadecaballo cabezadecaballo is offline
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Originally Posted by Crusaders View Post
No thanks
These guys are playing musical chairs in a house of cards. It's a prop bet on the side
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  #14  
Old 06-19-19, 08:02 AM
cabezadecaballo cabezadecaballo is offline
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Originally Posted by OhioBobcatFan06 View Post
Iím 29. Wonít be 42 until 2032. According to current forecasts, social security will run out of cash reserves by 2034. If you think belief in the Ponzi Scheme will rise between now and then, youíre crazy. Savvy youngsters have utilized the recent tax bill to minimize their exposure to the fraud
Social security isn't going anywhere.
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  #15  
Old 06-19-19, 04:40 PM
OhioBobcatFan06 OhioBobcatFan06 is offline
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Originally Posted by cabezadecaballo View Post
Social security isn't going anywhere.
I agree. Politicians donít have courage to do the right thing.

Entitlements will continue until inflation devalues fiat currency
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  #16  
Old 06-19-19, 06:56 PM
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Quote:
Originally Posted by cabezadecaballo View Post
So, the clown that manipulates search parameters from political motivations and pimps out all of his customers private info for cash is starting an unsecured currency that is "about taking power and control from governments and large corporations".

Got it.



You might want to read his post again.
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  #17  
Old 06-19-19, 08:26 PM
MCGal MCGal is offline
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There are a lot of other companies on-board with this new 'bitcoin' that FB is offering... if anything has the legs to last, I'd imagine it'll be this one
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  #18  
Old 06-19-19, 09:11 PM
Tardis Tardis is offline
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Quote:
Originally Posted by cabezadecaballo View Post
So, the clown that manipulates search parameters from political motivations and pimps out all of his customers private info for cash is starting an unsecured currency that is "about taking power and control from governments and large corporations".

Got it.



I was saying the opposite. This Facebook currency is the exact opposite of this hence it misses the whole point of crypto and will only strength Bitcoin and the like.

Libra is more likely to become like PayPal, absorbed within other corporations and then replaced by a better competitor like PayPal losing massive market share to Zelle or Venmo
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  #19  
Old 06-19-19, 09:45 PM
cabezadecaballo cabezadecaballo is offline
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Originally Posted by Tardis View Post
I was saying the opposite. This Facebook currency is the exact opposite of this hence it misses the whole point of crypto and will only strength Bitcoin and the like.

Libra is more likely to become like PayPal, absorbed within other corporations and then replaced by a better competitor like PayPal losing massive market share to Zelle or Venmo
OK

Now I'm following you. I skimmed. Why do you see this strengthening the real crypto others, though ?
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  #20  
Old 06-19-19, 09:46 PM
cabezadecaballo cabezadecaballo is offline
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Originally Posted by MCGal View Post
There are a lot of other companies on-board with this new 'bitcoin' that FB is offering... if anything has the legs to last, I'd imagine it'll be this one
sticking with dollars here
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  #21  
Old 06-19-19, 10:23 PM
Yappi Yappi is offline
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I agree about it turning into another PayPal. There will be alot more people who will try it hoping to get in early and see a meteoric rise. They will be disappointed that it doesn't take off but might become comfortable enough using it that they will adopt it as one of their regular methods of payment.

Might even help Bitcoin a little with making more people familiar with the idea. They may see Bitcoin as the original and be skeptical of Facebook's long history of violating consumer trust.
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  #22  
Old 06-19-19, 10:49 PM
cabezadecaballo cabezadecaballo is offline
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I agree about it turning into another PayPal. There will be alot more people who will try it hoping to get in early and see a meteoric rise. They will be disappointed that it doesn't take off but might become comfortable enough using it that they will adopt it as one of their regular methods of payment.

Might even help Bitcoin a little with making more people familiar with the idea. They may see Bitcoin as the original and be skeptical of Facebook's long history of violating consumer trust.
Facebook's "marketplace" local selling pages seem to result in items left out waiting on porches, with cash envelopes left in firewood boxes or mail chutes. I guess I could see letting seller credits ride until I wanted to buy someone else's cast-offs, as I have with proceeds of PayPal sales.

Why would I use the funny-money to buy off of a retailer's facebook page, instead of dollars
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