Posted on: October 27, 2019 Posted by: admin Comments: 24

Facebook cryptocurrency Libra banned in Germany and France

This is a clip from Lunduke’s Weekly Tech News, originally aired on Sep 17, 2019.

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24 People reacted on this

  1. 03:23 – 03:29 – Now apply this logic to anything else that is monopolized or (coercively) regulated by the state and you will see how the state is basically a mafia.

  2. Basically it is a way of the europeans to protect their customer from any potentially wrong doing by facebook, which is of course not possible ;-), see the facebook history. and to the point if it will be succesful: it can be if you take a look at the customerbase on facebook. and everybody said bitcoin wouldn't be successful as well.

  3. Normally I strongly disagree with Gardiner due to his lefty leaning stances, and, in this case, I still think he's wrong in his approach of "it's bad because it's a company", but I do agree with him that facebook's libra is bad news, and that it can give them more leverage… and we are talking about a company that has been involved in clear political activism through the biased manipulation of their supposed "platform" to steer the elections and so on. There's a famous quotation attributed to Rothschild that goes something like this "Let me issue and control the money of a nation and I don't care who makes it's laws". Lunduke is dismissing this too lightly.
    Then again, as a lefty, he's way too enthusiastic about regulation. Lunduke here wisely points in the direction of how most regulation is some bargain for big players that can get in bed with the government. Really, that's what most regulation is about. There's only a very small ammount of regulation in place in any modern nation that is really made for the good of the population, and I'm not even talking about adequacy, just intention. Most of it is the interest of people in bed with them and getting to control more things to further spurious interests, with at the same time also opens yet more opportunities for big private interests to play the bargaining game.

  4. I disagree because the coin you create might have value because there are only a few in existence, however, once you see them selling on ebay, you could flood the market with more of them to make cash, but you've just devalued the previously released ones. I do agree it's like baseball cards. Isn't that why baseball cards are now worthless and tops received numerous lawsuits for over printing cards? So perhaps it should be regulated.

  5. You would still control the Lunduke coin as long as you are the only one who can mint it. You could flood the market with coin and crash its value or stop replenishing the coin to raise its value at any time.

  6. Facespay… Spybook… Facebook is a Chines whore. Xi can manipulate Mark to manipulate the value of the money supply. France and Germany did something smart… for a change.

  7. The thing Bryan missed is that the authority of Libra is going to be almost inextricably tied to a centralized banking system. The analogies given don't rely on a centralized banking system. That's where these analogies slip into the faulty analogy fallacy because of these different premises.

  8. The idea behind Libra is NOT just a cryptocurrency. Facebook wants to implement Libra in Whatsapp, so people could have the Libra's wallet and payment service easily accessible in their smartphone. They want to emulate WeChat's success in China, but with their own currency.

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