908 karma · joined December 30, 2010
YC Badge: 0xe2fcb9715cf1532436da296dbd7fb2dbadd5b228
Civil rights seem to be mentioned only when the countries which don't respect them are poor or weak. When there is an economic interest they seem not be so important anymore.
Also didn't find my Praguecheapflats geocities site which was basically a precursor of Airbnb from 2001 and allowed me to travel the world full time for 10 years.
Geocities was really amazing for me, a non technical guy who just wanted to put stuff online.
I grew up in Europe thinking USA was a great place to live. Now I wouldn't live there unless some very clear guarantees were made. It scares me. And I lived in countries many Americans would consider scary.
Airbnb deplatforming comes to mind: when it happens, some people lose their only source of income and finding an alternative may not be easy or quick.
Now, imagine this happening to a person in a developing country and the scenario may be not too far from feudalism.
People don't just play on platforms, they live off them.
Kings used to own the land and serfs work it with no rights.
Platforms as Youtube own a new kind of land and Youtubers work on it with no rights.
They couldn't possibly expect any other reaction from regulators.
I think they're planning a long game.
Bottom line: they are more powerful than many governments and probably think a currency is their right.
Put like this it will start making sense to the institutions. Just give them some time to digest it.
As if Libra was an Arizona issue only.
Banks are always a huge risk when you deal with crypto. They can freeze your funds anytime.
You need to be on regulators side or they'll attack you on the bank accounts.
That means full compliance with KYC/AML and so on.
Bitcoin can be used anonymously if you avoid KYC on/off ramps and specific transactions tied to your identity. Hard but possible. From Libra's white paper this appears impossible. That's a big difference.