New facebook cryptocurrency truck system

From	Steve555 <Steve555@reallybogus.nodomain.nowhere.invalid>
Newsgroups	comp.misc
Subject	New facebook cryptocurrency truck system
Date	2019-06-18 16:10 +0000
Organization	An 8-pin DIL timer IC
Message-ID	<qeb2d9$vaf$1@gioia.aioe.org> (permalink)

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Today sees the launch of facebook's new cryptocurrency system.  According to the
report in the guardian, people who work for the consortium of corporations 
behind it are eventually expected to be paid in this cryptocurrency, 
the Libra; see https://www.theguardian.com/technology/2019/jun/18/
what-is-libra-facebook-new-cryptocurrency

People have short memories.  One of the worst abuses during the industrial
revolution in Britain was the truck system.  A truck system was where an
employer would pay his employees in his own tokens, which could only be spent
at shops owned by the employer.  This led to many abuses and eventually 
large-scale social unrest with bloody riots that led to the passing of laws 
in the british parliament to outlaw such truck systems; they remain illegal 
to this day.  There is a folk memory of those times in the expression 
"I'll have no truck with that", meaning you want nothing to do with something.
For an introduction see https://en.wikipedia.org/wiki/Truck_wages and
http://www.mining-memorabilia.co.uk/Tokens.htm#Truck%20Tokens .

So, how is the facebook cryptocurrency different from a truck system?

It will be aimed at the "new poor" precariat working in very insecure jobs
in the "gig economy".  A new token currency for people too poor to earn dollars,
as the western economies continue their race to the bottom.

-- 
  Gnd  -|o----|- Vcc      Hey computer, what's the weather in Sydney?
 trig  -| 555 |- dschrg   $> finger o:sydney@graph.no|tail -1|espeak
  o/p  -|     |- thrsh
  rst  -|-----|- cntrl    Steve555

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New facebook cryptocurrency truck system Steve555 <Steve555@reallybogus.nodomain.nowhere.invalid> - 2019-06-18 16:10 +0000
  Re: New facebook cryptocurrency truck system Huge <Huge@nowhere.much.invalid> - 2019-06-18 18:30 +0000
    Re: New facebook cryptocurrency truck system Steve555 <Steve555@reallybogus.nodomain.nowhere.invalid> - 2019-06-18 18:40 +0000
    Re: New facebook cryptocurrency truck system Steve555 <Steve555@reallybogus.nodomain.nowhere.invalid> - 2019-06-18 18:45 +0000
    Re: New facebook cryptocurrency truck system RS Wood <rsw@therandymon.com> - 2019-06-18 20:36 -0400
      Re: New facebook cryptocurrency truck system Huge <Huge@nowhere.much.invalid> - 2019-06-19 09:10 +0000
  Re: New facebook cryptocurrency truck system not@telling.you.invalid (Computer Nerd Kev) - 2019-06-18 23:18 +0000
    Re: New facebook cryptocurrency truck system Steve555 <Steve555@reallybogus.nodomain.nowhere.invalid> - 2019-06-19 08:51 +0000
    Re: New facebook cryptocurrency truck system Huge <Huge@nowhere.much.invalid> - 2019-06-19 09:10 +0000
      Re: New facebook cryptocurrency truck system Steve555 <Steve555@reallybogus.nodomain.nowhere.invalid> - 2019-06-19 09:33 +0000
        Re: New facebook cryptocurrency truck system Huge <Huge@nowhere.much.invalid> - 2019-06-19 09:50 +0000
      Re: New facebook cryptocurrency truck system not@telling.you.invalid (Computer Nerd Kev) - 2019-06-19 23:56 +0000
        Re: New facebook cryptocurrency truck system Kees Nuyt <k.nuyt@nospam.demon.nl> - 2019-06-23 17:15 +0200
          Re: New facebook cryptocurrency truck system Richard Kettlewell <invalid@invalid.invalid> - 2019-06-23 20:49 +0100

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