I'm really not excited for the future where cash is eliminated and you have to have an account on a dominant social media platform and a working surveillance device to buy anything. Also, in general, I find it very hard to care about how giant companies split the transaction fees.

@cstanhope isn't this just another Square Cash/Venmo thing? I fail to understand the panicky reactions...

@donblanco Hopefully you're right. I'm not panicking, but Facebook's size could make a difference in terms of whether people feel compelled to use Libra. My own comment comes from observing not just Facebook, but also observing the things already going on in China. As far as I can tell, western nations and corporations are also chomping at the bit to track everything we do for "security", "convenience", or advertising.

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@donblanco So Libra is just more of that, plus fighting over the fees and hoping to extract fees from a subset of the population that isn't paying them yet.

@cstanhope to me, it's just an easier way to move money back and forth between currencies. More useful in international travel/living. It should be much more stable than Bitcoin, and much easier to use.

I can't imagine anyone feeling compelled to use it, though.

@donblanco Being a homebody, I had not considered that angle of Libra. Interesting...

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social.coop

A Fediverse instance for people interested in cooperative and collective projects.