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roddie digital

Joined 4 months ago

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roddie digital's books

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Libra Shrugged: How Facebook Tried to Take Over the Money (EBook) 4 stars

Silicon Valley tries to disrupt the world — and the world says “no.”

Facebook: the …

Enthusiastic Fediverse poster David Gerard has made a career out of exposing cryptocurrency incompetence through his blogs ( and toots ( ). This book is a longform exposé of Facebook's disastrous attempts to climb onto the cryptocurrency bandwagon with a fantasy called Libra. Like his previous book which more generally covered Bitcoin and cryptocurrency, this is a witty read as informed as it is humourous. There were a few moments which dug a bit more deeply into the financial system than I was completely comfortable with but maybe I'm just an idiot. The whole sorry affair is somewhat succinctly summed up in the following couple of sentences:

"Facebook was forced to transform its great plan into PayPal-but-it's-Facebook -- or Libra wouldn't allowed to exist. Though the back-end system would still run on a blockchain -- for no functional reason, but they could say it was on a blockchain." …