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RE: Steven Mnuchin: Bitcoin is national security issue

in #bitcoin • 5 years ago

Dear @blockchainnerd

Discussions regarding Libra and Facebook are very intense lately and I personally don't know yet what to think about it.

I'm mostly interested how FED and other central banks will react if they will realize that Libra is a threat for current financial system.

Personally I will not put my trust in Facebook and I don't think I will ever use Libra. However I will surely pay attention to this project as it may turn our financial world up-side-down....

Important question I would like to ask you, and hopefully you would share your own opinion:

  • many people out there seem to see Libra as a threat to current monetary system. I'm one of those. However I've learned that global economy is build on debt. And all debts are in FIAT currency. So does it really matter if people use Libra to pay for their "groceries" and shop online? They still need to pay all their debts and mortgages for next 20-30 years in their local fiat currency.

For that reason alone I cannot see monetary system being changed much. Neither by libra or bitcoin or any other crypto. Debts, goverment expenses, trade oil - all of it will still require $$$.

What do you think? Upvote on the way.

Yours,
Piotr

5 years ago in #bitcoin by
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     5 years ago 

    Hello @crypto.piotr,

    First i want to thank you for the time and effort you took to reply to my post.

    I think you wrote it the way i see it too. The global financial system based on debt and fiat is the cancer of all financial freedom. Also i don't see any changes to this issue by involving the libra.

    My theory is that Facebook/Libra and the Government of the USA are working together and all this hearings are just a big show. I think the US gov would love to be in control of 2bil Libra users.

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     5 years ago 

    Appreciate your awesome reply @blockchainnerd

    First i want to thank you for the time and effort you took to reply to my post.

    Seriously pleasure is all mine. I love topics related to blockchain and AI and we seem to share similar passion :)

    I think the US gov would love to be in control of 2bil Libra users.

    Now real question is: how many of those 2bil facebook users would actually use libra? Why people assume that almost 100% of their userbase would.

    I would be surprissed if more than 5-10% would ever try Libra. Majority FB users do not use anything but messanger. MAjority FB users do not trust Facebook any more. Whoever I talk to says the same: I would never use Libra and I do not trust FB.

    I also wanted to make some suggestion.

    My impression is, that the hardest part of attracting attention on STEEMIT is the fact, that our audience have very little chance to actually find our publications. Lack of solid notification system is an obvious issue. And regardless how hard I would try - there is very little chance I would find out about your new interesting publications (my feed is just flooded with to many posts).

    Please allow me to share some suggestion with you. If you would ever publish content related to blockchain, crypto, artificial intelligence, psychology etc. then perhaps you could simply send me memo with link to that post.

    This way not only I would have a chance to read your publication, drop a comment but I will also `upvote it right away with almost 20k SP voting power (I also have almost 10k PAL tokens, which may give you some extra benefits is you're using PALnet.io)

    Please let me know what do you think. This surely should sound like a interesting offer :))

    Cheers, Piotr

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     5 years ago (edited)

    Now real question is: how many of those 2bil facebook users would actually use libra? Why people assume that almost 100% of their userbase would.

    sure there will not be that much as 100% but it could get viral.

    I would be surprissed if more than 5-10% would ever try Libra. Majority FB users do not use anything but messanger. MAjority FB users do not trust Facebook any more. Whoever I talk to says the same: I would never use Libra and I do not trust FB.

    You may be right here. I think FB is going down and i never was into it. I don't trust this guy "Zuck" but the most FB users are not this critical.

    My impression is, that the hardest part of attracting attention on STEEMIT is the fact, that our audience have very little chance to actually find our publications. Lack of solid notification system is an obvious issue.

    I totaly agree.

    Please allow me to share some suggestion with you. If you would ever publish content related to blockchain, crypto, artificial intelligence, psychology etc. then perhaps you could simply send me memo with link to that post.

    I get your point. I may be try out to bring out a memo to you. But i can't send special memos on regular basis out due to lack of time. I surely appreciate your upvotes and comments.

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     5 years ago 

    Hi @blockchainnerd

    I don't trust this guy "Zuck" but the most FB users are not this critical.

    I'm personally not sure if the rest is not that critical. I'm moving around a lot and I talked with tons of different people about facebook and their libra. And all I could hear is: I would never trust facebook with my money.

    Even people having little to do with blockchain, regular people having regular jobs seem to know that facebook is selling their data and their trust is very limited.

    Of course time will tell.

    I get your point. I may be try out to bring out a memo to you. But i can't send special memos on regular basis out due to lack of time. I surely appreciate your upvotes and comments.

    Absolutely. However I would suggest to create an excel sheet with all your most supportive followers. And every now and then (not to often), whenever you would like to promote some publication - just send mass memos to all those people.

    That would help. I'm sure it must be heartbreaking to see that your quality work doesn't attract much attention.

    Yours, Piotr

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     5 years ago 

    Of course time will tell.

    You know how some people are when they talk this and do other. Most people do not care about their privacy anymore and if a payment app is easy to use they will do it even if they know their data is sold to the gov and institutions.

    Absolutely. However I would suggest to create an excel sheet with all your most supportive followers. And every now and then (not to often), whenever you would like to promote some publication - just send mass memos to all those people.

    i need to look into this. right now i have no clue how to send a mass memo.

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     5 years ago 

    hi @blockchainnerd

    right now i have no clue how to send a mass memo.

    Check out this useful tool:
    https://helloacm.com/tools/steemit/wallet/

    Yours
    Piotr

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