[noise] Noise in Libra!
naveen at lastninja.net
Thu Jun 20 00:05:21 PDT 2019
This is getting a bit off-topic, but I'll just throw in my 2c.
>From what I read in the tea leaves, FB is basically making a PayPal
with the same amount of regulation (none), and hyping the shit out
of it by marketing it as a cryptocurrency (because it sells you
arcade machine like tokens) without any underpinning blockchain.
Technology wise, it looks like they're at least putting some thought
into security, which is good.
But more importantly, PayPal is stupidly expensive. Furthermore,
with Facebooks arcade tokens, they might be able to undercut or
compete with online remittance/forex services.
So if you use PayPal for these kind of services, you might be better
of with the Facebook equivalent.
On Thu, Jun 20, 2019 at 06:06:26AM +0000, dawuud wrote:
> It's the very least they can do since Facebook is presumably going to
> try and make lots of money off of Snow.
> But then again if their morals were intact maybe they wouldn't be
> working for facebook in the first place? (and Facebook would decide
> being morally bankrupt is worse than being monetarily bankrupt and
> shut itself down)
> On Thu, Jun 20, 2019 at 02:52:39PM +0900, Jake McGinty wrote:
> > Cool to see Snow being used in the wild on this scale of a project! Thanks for sharing, David :).
> > dawuud, I haven't been made aware of any formal audits of Snow. If Facebook sponsored a public formal audit of Snow, that would be awful nice.
> > ~ jake
> > On Thu, Jun 20, 2019, at 6:50 AM, dawuud wrote:
> > >
> > > Dear David Wong,
> > >
> > > Was Snow formally audited?
> > > Is the audit report going to be published?
> > > Was the Snow author informed?
> > >
> > > Cheers,
> > > David
> > >
> > >
> > > On Tue, Jun 18, 2019 at 07:39:26PM -0700, david wong wrote:
> > > > Just want to point out that the cryptocurrency Facebook released today (Libra) makes use of Noise! (currently the snow imlementation.)
> > > >
> > > > Cheers!
> > > > David
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