|
|
z2005-09-12- Pay Pal Wars
|
|
Whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.
|
|
(backlinks off)
|
(map off)
|
(search off)
|
|
last edited
by BillSeitz
on
Aug 29, 2008 3:01 pm |
[Radley Balko] on The PayPal Wars: Battles With EBay, the Media, the MafIa, and the Rest of Planet Earth - ISBN:0974670103 - Peter Thiel and Max Levchin had hoped PayPal would grow to become an extra-governmental system of currency, something reminiscent of the world described in Neal Stephenson's novel Crypto Nomicon, in which programmers use encryption to create an offshore data haven free from government control... In the book's first chapter, Jackson recalls a speech Thiel gave to Confinnity employees, just a few days after he began work, in which he described his hopes for PayPal to become a borderless private currency (Digi Cash). He saw PayPal facilitating trade in currency for anyone with an Internet connection by enabling an instant transfer of funds from insecure currencies to more stable ones, such as U.S. dollars. Thiel explained to his young staff how governments had historically robbed their own citizens through inflation and currency devaluation. The very rich could always protect themselves by investing offshore. It's the poor and middle class, Thiel explained, who get screwed.
Bill Seitz, fluxent at gmail dot com, Weblog