Facebook's Libra Yields Before Congress. Bitcoin Can Never Be Controlled.
July 18, 2019
14,343
700
254
6.65%
Search the Record
IndexedEvery word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
ReasonTV Episodes Around July 18, 2019
See what was published immediately before and after this episode.
2:04Now PlayingFacebook's Libra Yields Before Congress. Bitcoin Can Never Be Controlled.
YouTube Description
as posted by the channelAlexandra Ocasio-Cortez will never get to interrogate Satoshi Nakamoto. That's one of many reasons bitcoin is so great.
------------------
Subscribe to our YouTube channel
Like us on Facebook
Follow us on Twitter
Subscribe to our podcast at Apple Podcasts
Reason is the planet's leading source of news, politics, and culture from a libertarian perspective. Go to reason.com for a point of view you won't get from legacy media and old left-right opinion magazines.
----------------
Satoshi Nakamoto is the pseudonym of a mysterious software developer who released a white paper describing a new peer-to-peer currency called bitcoin on an obscure mailing list in 2008, then disappeared two years later.
David Marcus is a Facebook executive who was grilled in two congressional hearings this week about a new digital currency project called "Libra," which the social media giant is billing as a less volatile version of bitcoin that can be monitored and controlled by governments.
"We are fully committed to working with regulators, here and around the world," Marcus said on Tuesday before the Senate Committee on Banking, Housing and Urban Affairs. "And let me be clear and unambiguous: Facebook will not offer the Libra digital currency until we have fully addressed regulators' concerns and received appropriate approvals."
The hearings were a useful reminder that one of the many reasons that bitcoin is a revolutionary technology with profound political consequences, and Facebook's Libra is a payment network with some interesting properties, is that Congress can never make Satoshi Nakamoto appear on national television to be grilled by lawmakers.
Written and narrated by Jim Epstein; Graphics by Austin Bragg and Meredith Bragg.
Alexandria Ocasio-Cortez Photo Credit: Stefani Reynolds - CNP / MEGA / Newscom
David Marcus Photo Credit: Bill Clark/CQ Roll Call/Newscom
Links & Promotions
Guests & Subjects Covered
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.