⧉infominer 18-Jun-19 09:36 AM
My interpretation of the 26 page technical document describing the protocol to be used as a platform for the Libra coin and more.
@JuanSC i made this too
Good work tho, not till after u dropped in didecentral
JuanSC 18-Jun-19 09:42 AM
⧉infominer 18-Jun-19 11:34 AM
Welcome to Libra. Our mission is to enable a simple global currency and financial infrastructure that empowers billions of people, and our hope is to create ...
Libra is a global cryptocurrency built on blockchain to promote financial inclusion. Libra is digital, mobile, stable, fast, cheap and secure. Read the Libra White Paper.
⧉infominer 18-Jun-19 12:09 PM
For billions of people, a dollar-backed Libra on your phone globally is infinitely superior to national currency in market depth & maintaining value. If it succeeds, Libra will likely destroy most 3rd world currencies, or force them to be fully pegged to & backed by the US...
1/X Thread on #Libra and its new language (#MOVE) : So I am reading about #Libra today and find it rather interesting they made their own VM and programming language: Attached is a code sample
The @creativedlab is the only founding academic partner of Libra. Other members (Visa, Uber, PayPal, eBay, etc.) paid $10 million to be involved. @joshgans wrote in a post that "CDL does not have a financial interest in this association."
banking no longer belongs to the bankers bitcoin proved that technology can disintermediate money and banking - and helped an entire generation of entrepreneurs and investors see the potential 💸 change is coming 💸
⧉infominer 18-Jun-19 12:23 PM
Libra tech in 1 tweet: Pseudonymous base-layer. Smart contracts. 1000 tx/s onchain so forget about running a full node. You'll DL a Merkle root with >2/3 sigs to know your balance - full trust in signatories (like XRP). Consensus algo called "HotStuff" (improved PBFT). Rus...
Union Square Ventures is a venture capital firm based in New York City.
Today we announced that we have joined the Libra Association, the governance for a global stable coin. Nick has written a post on the USV blog explaining our decision. I have argued before that we...
Facebook’s cryptocurrency Libra decried by French finance minister, saying it ‘must not happen’ - The Block
Facebook’s cryptocurrency Libra was only officially unveiled earlier today, but has already been the target of vociferous opposition from France’s finance minister Bruno Le Maire, according to a Bloomberg report on Tuesday. Le Marie said Libra “can’t and…must not ha...
The biggest question for me while researching @Libra_ today was this: Is it possible for users who aren’t “founding members” (@facebook, paypal, visa, uber, etc) to gain access to the network and fully validate the “chain”? The answer is a resounding NO.
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The Libra blockchain will use a merkle tree and be immutable” Until an EU Citizen invokes the Right of Erasure under Art. 17 GDPR
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If #Libra say they say they want to "develop and promote an open identity standard" but ignore the existing identity communities and standards I'm going to flip a table #W3C #DID #VC #SSI
⧉infominer 18-Jun-19 02:32 PM
⧉infominer 18-Jun-19 03:38 PM
When reading their technical whitepaper, there is little doubt that the Libra blockchain wants to out-compete public blockchains like Bitcoin and Ethereum. I went through the document and annotated key parts for you to read! (Inspired by @katherineykwu)
⧉infominer 18-Jun-19 06:20 PM
Maxine Waters: Not so "Low IQ" after all!!! Panopitcoin is so distasteful and anti-Society, there is no way they're going to get an easy roll out and ride. Zberg is a fool; he should have embraced Bitcoin!
1/ FIRST ANALYSIS of @facebook's #Libra: Facebook completely misunderstands money. 🤣😩 Facebook understands payment systems--but that's not the same as money. Two telling quotes: "Libra is backed by a reserve of real assets." "Many cryptocurrencies today (eg #Bitcoin ...
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The @Libra_ release looks really amazing. Based on HotStuff (which is itself inspired by Tendermint!), written in Rust, with a new smart contract environment, open source license, and non-profit governance. All fantastic things. But the social implications are terrifying t...
⧉infominer 18-Jun-19 06:31 PM
Exactly. Bored of listening to $crypto projects parroting #bankingtheunbanked narative without thinking of underlying issues such as lack of internet access and tech
⧉infominer 19-Jun-19 03:29 PM
Looks like Libra (FacebookCoin) is using the VRF (Verifiable Random Function) that Leo Reyzin & I and others designed at BU. Three cheers for the #IETF #CFRG standardization process! 🎉🎉🎉
Leo and Sophia are cited in the Libra technical whitepaper for their work on accumulators. Boston University is a hotbed of cryptocurrency research. CC: @BUCompSci @BU_Tweets
⧉infominer 19-Jun-19 05:06 PM
Facebook has been speaking with US regulators about Libra
⧉infominer 19-Jun-19 05:17 PM
NEW YORK (AP) — The Latest on the Federal Reserve's monetary policy meeting (all times local): 3:10 p.m. Federal Reserve Chairman Jerome Powell is downplaying the possibility that...
⧉infominer 19-Jun-19 05:25 PM
The US gov't is calling for hearings blocking Facebook Libra token. Over the past 10 years, they have largely left #Bitcoin alone while creating regulations around the industry, some good and some bad. Facebook may have just fucked us. Listen...
"Libra doesn't compete with central banks, they're using a basket of currencies" Think about what happens in, say India, when they decide to apply monetary policy (devalue) and people have access to a "hard" Libra alternative. It undermines their power of monetary policy
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⧉infominer 20-Jun-19 01:21 AM
Leader of House Financial Services Committee Requesting Halt, Hearings on Facebook’s Libra.
⧉infominer 20-Jun-19 01:39 AM
When asked in an interview about Facebook’s “Globalcoin”, Jack Dorsey stated: “I would hope that all private companies can see the value of having a stateless currency that all people can access, and is not bounded or constrained by any one corporate entity.” W...
⧉infominer 20-Jun-19 05:30 AM
WBD118 - @CaitlinLong_ on Why Facebook's Libra Coin is Good for Bitcoin. We also discuss: - Why Libra will be good people in developing countries - Whether Facebook will pay users interest - Regulations - Why Libra will increase awareness of Bitcoin
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⧉infominer 20-Jun-19 06:16 AM
CNBC’s Brian Kelly Explains the ‘Huge Difference’ Between Libra and Bitcoin @BKBrianKelly @davidmarcus #Bitcoin #BTC $BTC #Facebook #Libra #libracoin #FacebookLibra #FacebookCoin #cryptocurrency #cryptoasset
U.S. Senate Banking Committee Holding Hearing on Facebook’s Libra on July 16 @CryptoCompare @davidmarcus @libra_ #Facebook #Facebookcoin #facebooklibra #Libra #libracoin #blockchain #cryptocurrency
Everything You Need to Know About Libra, Facebook’s New Cryptocurrency @CryptoCompare @libra_ #Facebook #LibraAssociation #libra #Calibra #FacebookCoin #cryptocurrency #cryptoasset #blockchain #remittance #crypto #Stablecoin #stablecoins
I've just read #Facebook whitepaper and tech paper about #Libra: 1. Tech paper: 2. Whitepaper: 3. “Move” is a new programming language for implementing custom transaction logic and “smart contracts”.
⧉infominer 20-Jun-19 10:31 AM
Read the Facebook Libra paper this morning (with ☕️). My annotated notes (PDF):
⧉infominer 20-Jun-19 01:14 PM
I hate myself for saying this, but as much as I worry about the privacy properties of Libra: at very least it’s an attempt to democratize payments. The alternative is a cartel payment/banking system that eats a huge chunk of people’s income.
⧉infominer 20-Jun-19 08:36 PM
Facebook’s Libra Will Primarily Be Used to Buy Bitcoin, Says Fundstrat
Most industry heavyweights are in agreement that Libra is about as far from Bitcoin as the greenback is and will even give it a big boost.
⧉infominer 21-Jun-19 03:03 PM
Facebook Under Oath: You Have No Expectation of Privacy 🕵🔒 “the dismal reality of Silicon Valley: they’re very excited to fix big problems, as long as they’re not problems that they created” 🧰 -@cwarzel #Facebook #Court #Priva...
⧉infominer 21-Jun-19 05:11 PM
What most concerns me about Libra is the potential for further marginalization. People locked out of the financial system, unable to pay rent because a status update flagged them as a sex worker; unable to access healthcare because Facebook thinks their identity is fraudul...
⧉infominer 21-Jun-19 08:00 PM
If successful, [Facebook] makes the Libra accessible to everyone on the planet while offloading the regulatory burden of operating the on- and off-ramps to other business.”
⧉infominer 21-Jun-19 10:35 PM
Facebook is very knowingly exploiting a very specific gap in regulations and technology made possible by the cryptocurrency industry. This doesn't seem to be well-understood at all at the moment, so I drew a diagram. Please let me know what you think.
⧉infominer 22-Jun-19 06:10 AM
GuysTake_019 - Libra Doesn't Compete with Bitcoin, But it Might Kill Ripple by The Cryptoconomy Podcast
All the buzz is about FacebookCoin, I mean FacePalmCoin, I mean Libra today with the release of the testnet and giving much sought after details on the new protocol and what they seek to accomplish with it.  The big question, can it do any of what it says, and what...
JuanSC 22-Jun-19 07:57 AM
For people who don't know, ChanZuckerberg is the "research hospital"/clinic housed by "Zuckerberg SF General" , which was the result of Zuck "charitably" buying out a debt-crippled public general hospital in a city without enough hospitals (or, more generally speaking, infrastructure). California public services are wild, surprisingly bankrupt, hamstrung, and shat upon for such a rich, blue state (edited)
so is @ChanZuckerberg gonna take #Libra? want me some social-credit backed health insurance 🤪
Additional backstory on why Beth (and everyone else who lived in SF at the time) has a deep, visceral distrust of Zuckerberg General (or FB putting out feelers in the US's broken healthcare system generally) here:
I spent a year writing about ER bills. Zuckerberg San Francisco General has the most surprising billing practices I’ve seen.
JuanSC 22-Jun-19 08:11 AM
The tech giant knows its best weapon is mobilizing the faux-populism other Silicon Valley companies have used to defeat regulation
⧉infominer 22-Jun-19 07:34 PM
An expert guide to the social media company’s foray into cryptocurrency
Libra is a global cryptocurrency built on blockchain to promote financial inclusion. Libra is digital, mobile, stable, fast, cheap and secure. Read the Libra White Paper.
Welcome to Libra. Our mission is to enable a simple global currency and financial infrastructure that empowers billions of people, and our hope is to create ...
⧉infominer 23-Jun-19 07:06 AM
Everything related to Facebook’s LibraCoin - A simple global currency and financial infrastructure that empowers billions of people.
JuanSC 24-Jun-19 10:11 AM
"Honestly, I don’t view this as a literal plagiarism. But I do think that they have recognized that this council that we created was a good idea. Although theirs may have some slight differences, I think when we started this, people were saying, ‘ that’s crazy, you can’t have a council.’ And now I think people are going to realize, no, you really need one. You need to trust not just a handful of developers to run this thing. You need to have huge companies that compete with each other, that are able to balance each other, spread around the world, that’s what you really need to have trust in something." (edited)
Blockchain company Hedera took an ad out in this morning’s Wall Street Journal thanking Facebook for flattering them with their copycat governance model.
I set an alarm for 7AM EST to read Facebook's Libra blockchain announcement and woke up to various posts, tweets & takes around the world (the announcement was released at 5AM). Instead of adding more words to the discussion, here's a roundup of takes that made me think ...
⧉infominer 24-Jun-19 12:02 PM
yeah, I mean... they are likely to win enterprise blockchain hardcore
and are likely to "do it right" in my opinion, regards to privacy and SSI
but idk
JuanSC 25-Jun-19 09:01 AM
With crypto winter finally over, I’ve turned my heart to dreams of crypto spring. But my thoughts are not warm in this first article in…
JuanSC 26-Jun-19 04:22 AM
If having a voice for vulnerable populations in the process of developing Libra requires signing on to a public partnership with @facebook and others as prerequisite, then that, itself, is a problem. @mercycorps should be advocating to @facebook for independent advisory bo...
(Full disclosure: I keep throwing links in here because I'm going to attend this next week and I want to have my facts straight in case I get into a yelling match)
Facebook announced the Libra blockchain token. Great for blockchain adoption, or an attempt at putting monetary control in corporate hands?
⧉infominer 26-Jun-19 04:23 AM
glad to have the help!
⧉infominer 26-Jun-19 05:39 AM
Alphabet's Sidewalk Labs will "Use distributed credential infrastructure to protect privacy" Mentions BC Gov as ex. of open source work in the space (cc @SovrinID). Even ZKPs! Interesting after @Libra_ revealed they're also looking at decentralized ID 👀🔥
JuanSC 27-Jun-19 04:22 AM
Sidewalk Labs is... not my favorite google project. Canadian academics and privacy rights activists have been yelling at them for 5 years to drive across town and talk to Tim Bouma or any number of Toronto-based or Ottawa-based DID people, and they've been answering hundreds of very valid criticisms with corporate doublespeak and "we'll look into it" this whole time. For the record, Bouma is a saint among men and very "reachable"-- I wager he would probably do an interview or a phone meeting with just about anyone working seriously in the DID world, which is not something I can say about most important people in this sector. (edited)
The NYT (which I predict will stay very much in the anti-Libra camp) ran this gossipy piece about how conditional all the sign-ons to the association are. This jives with all my recent research into blockchain consortia and "neo-extranets": people sign letters of interest, letters of commitment with conditions, agreements with multiple escape hatches, etc. for these kinds of partnerships, there's a LOT of fine print (edited)
The social media company said it had signed 27 partners to its Libra project. But executives at some of those companies said they were approaching it warily.
kdenhartog 29-Jun-19 04:10 AM
Glad to see this channel here. I'm doing research on Libra this weekend.
⧉infominer 30-Jun-19 08:59 PM
JuanSC 01-Jul-19 06:54 AM
Excellent overview of regulatory strategy. " I really think it’s just a matter of timing, not feasibility. There’s nothing technically all that tricky about what Libra is proposing. Essentially all of the hurdles are either adoption related (which, having already grabbed Facebook and Visa as backers, seems pretty well in hand) or regulatory in nature."
Cryptocurrency filing for Libra echoes an ETF, but just what is it?
⧉infominer 02-Jul-19 11:42 PM
Committee Democrats Call on Facebook to Halt Cryptocurrency Plans | Financial Services Committee
⧉infominer 03-Jul-19 09:14 AM
Members of Congress just sent this letter to Facebook asking them to officially stop development of Libra. Wait till Congress finds out they can’t send letters to Bitcoin🔥
⧉infominer 04-Jul-19 01:29 AM
I’ve spent my academic career trying (in my limited way) to undo the privacy damage computers have done to our society, but what’s the point when Facebook wants to make a few bucks. This makes me ill.
JuanSC 05-Jul-19 11:00 AM
I ❤ Alphaville: "Marcus asked the question himself but doesn't seem to have really answered it: is this really a blockchain? We've argued the fact that the Libra Blockchain doesn't feature a chain of blocks — which you'd think would be important — but is rather a “single data structure” means it's not a blockchain. But it seems Marcus has a different idea of what blockchain means. If his definition is that it is “open” and “decentralised”, as he in some ways implies in the question, then he does kind of answer it, but as you can see above, the answer would be... no? Unless, if we really want to give him the benefit of the doubt, Marcus's definition of blockchain is that it is quite decentralised and quite open. (Although even then, the idea that 100 “industry-diverse organisations” running nodes is “quite decentralised” is all very well and good, but there have been only 28 organisations announced so far, including Facebook.) If that's his definition, however, then the world of blockchain suddenly gets a lot bigger. Isn't Uber quite decentralised and quite open? Is Uber a blockchain? Isn't a bank whose API can be plugged into also quite decentralised and its ownership structure also quite decentralised because anyone can buy its stock? Is a bank a blockchain?" 🤣 (edited)
⧉infominer 08-Jul-19 09:39 PM
It’s been two weeks since we introduced Libra, a new cryptocurrency powered by blockchain technology. We shared a white paper, a number of deep-dive pap
JuanSC 11-Jul-19 04:18 AM
Wait. Why no one is talking about a security token LIT that Libra also launches. Companies are presented with a series of incentives to hold on to it such as the right to receive dividends and governance.
⧉infominer 11-Jul-19 10:51 AM
Fed Chair Jerome Powell Has ‘Serious Concerns’ with Facebook Libra Proposal | Hacker News
⧉infominer 16-Jul-19 03:10 AM
1/ The Senate Banking Comm staff reached out last week regarding @Facebook @Libra pursuant to my @ForbesCrypto article. During a conf call they indicated interest in receiving formal testimony from me. Here it is + summary follows 👇: @DoWithCare
⧉infominer 16-Jul-19 10:47 PM
1/3 I appreciated the opportunity to discuss the vision for Libra, and the benefits it can bring to many people around the world, at a hearing today with @BankingGOP.
⧉infominer 17-Jul-19 01:29 AM
Requesting commitment by Facebook for #digitalwallet interoperability (1:07:00)
"Facebook won't have access to that data"* *except of course all data on Libra will be pseudonymous and trivial for firms like Facebook to analyze and reconstruct a transaction graph to associate to your social data but who cares about the details amirite?
⧉infominer 17-Jul-19 03:56 AM
Missed the Libra Senate hearing? Here’s your recap. 1. Facebook’s trust problem 2. Key questions/topics (American innovation, Swiss accounts, Data, Crime, and Why Facebook?) 3. What it means for Bitcoin
⧉infominer 17-Jul-19 04:58 PM
The best of from the Financial Services Comittee on Libra & cryptocurrency
⧉infominer 17-Jul-19 08:18 PM
Panel 2 Expert Panel - Libra Hearings Day 2 - House Financial Services Committee
⧉infominer 21-Jul-19 04:41 PM
Bitcoin has been around for a little over a decade, while its biggest competitors ethereum, litecoin, and Ripple's XRP have been knocking around for a between seven and four years—but all save bitcoin are already being eclipsed by Facebook's yet-to-launch libra cryptocurren...
⧉infominer 30-Jul-19 10:42 AM
⧉infominer 14-Aug-19 05:02 AM
Facebook has been paying hundreds of outside contractors to transcribe clips of audio from users of its services, according to people with knowledge of the work. This raises questions about the third-party sponsors of its Libra cryptocurrency.