Will The Libra Cryptocurrency Revolutionize Money?

Will Facebook's Libra Cryptocurrency transform money as we know it or is it "the most invasive and dangerous form of surveillance devised thus far?" How does the Libra compare to Bitcoin and the U.S. dollar in terms of the attributes of money.

In this episode you’ll learn:

• What is the Libra and how does it differ from Bitcoin.
• What are the different attributes of money.
• What is proof of work and proof of stake for cryptocurrencies.
• What is the difference between permissionless and permission-based systems for cryptocurrency.

Thanks to WIX and Peloton for sponsoring the episode. Use code MONEY for Peloton.

For show notes and more information on this episode click here.

• [0:17] Praise and criticism of the Libra. 
• [1:56] What defines money, and does the Libra match up? 
• [3:53] Proof of work vs. Proof of stake: Libra vs. Cryptocurrency.  
• [9:52] The role of Libra BFT: creating a permission-less and sustainable currency. 
• [12:30] Libra’s claim that it has intrinsic value by being backed by assets. 
• [16:00] Measuring the reserves and political power of Libra.
• [17:46] How new money is created by Libra compared to other currencies. 
• [21:05] Who makes up the Libra validators?
• [22:36] Possible issues with taxes and regulation. 
• [24:42] Comparing libra to other cryptocurrencies and the U.S. dollar.

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