It seems that Libra is going to demonstrate exactly why only a decentralized design like Bitcoin’s or other similar cryptocurrencies has any chance of breaking that control. They will be much much harder to attack and shutdown once governments decide this competition in their monopoly of money is just not wanted.
That looks like a pretty questionable line of logic, because, say for sake of argument, that it can be demonstrated from an economics objective that competitive private currencies produce higher levels of growth. Now the terrorists also have us hostage economically as we need to use monopoly government money as the only way to stop them!
Come on, it’s lazy thinking to believe that only centralized authoritarian control of currency is how to keep everyone safe from various bad actors, terrorists, criminals and rogue nations. My intuition says that just can’t be correct, otherwise let’s also just put cameras in everyone’s homes ... just in case.
There is such extremism in all cryptocurrency related discussions. Why in the world would there be anarchy if central bank monetary policy was no longer effective when private currencies are used or during a Free Banking period? Why does that follow at all, by what mechanism?
This is the same authoritarian reasoning behind things like China's capital controls, though.
https://www.npr.org/sections/money/2012/12/07/166747693/epis...
Are you going to back up your argument or just state it like it's a fact?