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mk · 1983 days ago · link · · parent · post: "Any company big enough to start its own currency is just too big."
There are so many downsides to a world using Libra and very few upsides. Payments should flow over a protocol that no one owns, not Facebook, not the US government. Governments can get involved with the on-ramps and off-ramps their citizens use, and in representative governments, the citizens ought to decide what that involvement looks like. Baking authority into the protocol itself is economic tyranny.
But wouldn't it be better to have the option? If there are no upsides then people can just not use it and it'll go out of business. If there are upsides then those who benefit can use it and everyone else can choose to use normal currency. I don't understand how having less options would be better for anyone