PayPal Was started By Libertarians To Avoid Government Control - GoFuckYourself.com

Agent 488 · 10-06-2010, 05:51 PM

http://reason.com/archives/2005/08/01/who-killed-paypal

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. 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. "PayPal will give citizens worldwide more direct control over their currencies than they ever had before," Thiel predicted. "It will be nearly impossible for corrupt governments to steal wealth from their people through their old means because if they try the people will switch to dollars or pounds or yen, in effect dumping the worthless local currency for something more secure."

onwebcam · 10-06-2010, 06:07 PM

Is that why they need so much identification? Not had many problems with them and I would give them props if they pulled it off but I personally don't see it in their business practices. I don't see it happening now since it's owned by ebay and they publicly admit they have no problem with reporting you to the authorities.

SallyRand · 10-06-2010, 06:12 PM

Quote:

Originally Posted by Agent 488

http://reason.com/archives/2005/08/01/who-killed-paypal

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. 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. "PayPal will give citizens worldwide more direct control over their currencies than they ever had before," Thiel predicted. "It will be nearly impossible for corrupt governments to steal wealth from their people through their old means because if they try the people will switch to dollars or pounds or yen, in effect dumping the worthless local currency for something more secure."

Well, now, that shit didn't last long, did it?

pornmasta · 10-06-2010, 06:17 PM

you are not your past, you are your present. It is the same thing for paypal.

10-06-2010, 05:51 PM	#1
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	PayPal Was started By Libertarians To Avoid Government Control http://reason.com/archives/2005/08/01/who-killed-paypal 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. 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. "PayPal will give citizens worldwide more direct control over their currencies than they ever had before," Thiel predicted. "It will be nearly impossible for corrupt governments to steal wealth from their people through their old means because if they try the people will switch to dollars or pounds or yen, in effect dumping the worthless local currency for something more secure."

10-06-2010, 06:07 PM	#2
onwebcam Fake Nick 1.0 Industry Role: Join Date: Oct 2005 Location: Rent free, your head Posts: 27,653	Is that why they need so much identification? Not had many problems with them and I would give them props if they pulled it off but I personally don't see it in their business practices. I don't see it happening now since it's owned by ebay and they publicly admit they have no problem with reporting you to the authorities. __________________ PLEASE WAIT WHILE BIDEN ADMIN UNINSTALLS ITSELF..... ██████████████████▒ 99.5% complete. Last edited by onwebcam; 10-06-2010 at 06:12 PM..

10-06-2010, 06:17 PM	#4
pornmasta Too lazy to set a custom title Join Date: Jun 2006 Posts: 19,029	you are not your past, you are your present. It is the same thing for paypal.