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Libra is meant to be safer and better than a bank. Seems almost impossible to fail, it has 100% reserve backing while banks have < 2% in europe. It supports instant payments even in the most remote regions of the eart. It will be a terrible competitor for banks, if it works. The problem is that it s backed by a conglomerate that is too big to trust.


I'll take regulated 2% over promised 100%. Otherwise we get another Tether story: https://cointelegraph.com/news/fractional-reserve-stablecoin...


It's also backed by a conglomerate that simply hasn't been around long enough to be safer than a bank.

Yet in its short lifetime, Facebook has been able to prove itself very untrustworthy towards consumers.

It's not too big to trust, it's just untrustworthy. The fact that it's also big, makes trusting it an even worse idea.


> It supports instant payments even in the most remote regions of the eart

no, they don't.

still need an internet connection and two person with a libra account.

Anyway, you can do the same thing with paypal...




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