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  • So everything has some mixture of these characteristics.

  • You've got to think of them as a kind of a multidimensional set of like like bars, right?

  • So you could you could have five out of five on that one, but only three out of five on the other one.

  • And you have to make your own assessment.

  • And also they change over time things become more centralized or more decentralized.

  • You have to be vigilant.

  • But then there are also a number of corporate centralist or permission block changes they're called which have none of these characteristics.

  • So they're not to open, they're not borderless, they're not sense to persistent, they're not neutral, they're not public, they're not transparent, They call themselves block chains.

  • Facebook is launching presumably next month uh their own coin.

  • We we joke and we call it zack box um but they're going to call it global coin I think or something like that.

  • Um And the irony of course is it's not global coin um because it can't be borderless.

  • And the reason it can't be port Alice is because as global as facebook is in most of its reach.

  • Its jurisdiction is very carefully controlled.

  • So if you are U.

  • S.

  • Citizen who has faced coin, you can't send it or Zach box, you can't send it without restrictions.

  • They're going to be subject to the same laws that Paypal has and any of the other big banks.

  • So it can't be borderless, can't be neutral.

  • They have to know the identity of both parties in every transaction and those parties must be allowed.

  • It's not open.

  • They have to be vetted in order to participate.

  • Uh It's not censorship resistant.

  • They have a legal obligation to censor transactions certain transactions, right?

  • So therefore it has none of these characteristics.

  • Which means it doesn't qualify as as what it doesn't qualify as what in your men in your minds.

  • For me, it doesn't qualify as revolutionary, interesting or impactful to the future.

  • It's going to impact banks because it competes very directly against banks.

  • If you're a banker, you should be terrified now because you've got Bitcoin coming on one end, open peer to peer border less.

  • You know, you can't play in that game at all because it's an alien thing.

  • And then on the other end, your best business which is making payments and using technology is now being threatened by a company that knows how to do technology much better than you and has a dopamine playful algorithm that can make people addicted and two billion users on day one, you're screwed, right?

  • So you're excited by this development because it ultimately will help the crypto market.

  • But you're clear to say this is not crypto as we know it as far as it doesn't serve the same market, right?

  • It doesn't serve the same market.

  • It might serve some markets.

  • And it's an interesting experiment and will promote the whole, um, space, but it doesn't serve the same market as the open, private peer to peer crypto.

  • Okay.

  • But will it be successful?

  • Do you think?

  • Oh, I think of course it will be 60 bucks.

  • They tried to do that a few years ago, or?

  • No, no, I don't think so.

  • I mean, let's call it global coin or globe coin or whatever they're going to call it.

  • Uh, the, I don't know if they did.

  • I mean, there's all these rumors that swirl around that everybody gets excited, etcetera.

  • But the other thing you have to realize and this is really, really important more than anything else.

  • This is a surveillance coin.

  • It is, uh, the worst kind of surveillance coin connected to the worst kind of surveillance company that's exercising the worst kind of surveillance capitalism.

  • Right?

  • So you want to play in that?

  • I would never, I don't have facebook applications.

  • I don't have an account, I don't use it.

  • It's not on my phone.

  • I would never touch that stuff.

  • You want to go there.

  • Great.

  • Remember every time you make an easy transaction and you hear the little ding, ding sound of that, remember that's the sound of democracy dying?

  • That's the sound of independence dying.

  • That's the sound of of personal privacy dying.

  • And you just made someone rich while killing all of the things that matter in free societies.

  • That's harsh.

  • It's true though, it's true.

  • It's the it's the absolute reality.

  • Yes, grandpa like sharing pictures.

  • Yes.

  • But grandpa also used to be free and and his grandchildren are not going to be.

  • So every time he shares a picture, you're watching democracy die a bit and Absolutely yes, they're manipulating elections.

  • They're manipulating our dopamine responses.

  • They're manipulating attention.

  • They're spreading radicalism and extremism there, spreading misinformation that's leading to the greatest measles up.

  • Breaking the world ever seen.

  • They're spreading conspiracy theories and they're doing all of that wall driving advertising and your personal information to, you know, to people who are monetizing it and now they're going to get in the money business and now they're going to get into the money business.

  • And if you let them, they're going to be very successful with that.

  • And eventually they're going to beat the banks at it.

  • And then facebook is going to be your bank.

  • Good luck ever escaping that.

  • Yeah.

  • Warrior was one more water.

  • Yeah.

  • Wild.

  • Still.

  • My wife.

  • Yeah.

  • Mhm.

So everything has some mixture of these characteristics.

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B1 coin peer facebook surveillance manipulating qualify

“You’re Screwed!" - Democracy And Independence Dying - Andreas Antonopoulos On Facebook Coin

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    林宜悉 posted on 2021/05/29
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