Global Coin - Zuckerborg's Response
Unless you've not been paying close attention to this space, there's a good chance you've heard that Facebook has been working diligently on blockchain technology for a little over a year. Of course, up until now we've had nothing concrete, no timelines, no names, but today this has changed.
The most powerful social media platform is getting "upgraded". Well, the cynic in me is having a hard time at the moment, but truth be told we are seeing a shift that is a net positive to the cryptospace no doubt. Who knows what Facebook will bring to this space? I do however see something quite important happening in 2020, something that we need to accept that needs to happen.
Regulation
Yes, I know to some the idea of getting government involved is painful to accept, but I'm trying to be realistic. We still live in a society, we still have governments, and without regulatory clarity, it's extremely hard for this space to take its final shape, so to speak.
Now Facebook entering the field, with all their power and their influence are sure to move the needles considerably. As far as I can tell from the articles I've read, this is set to be launched Q1 2020, so that means that it's not really that far away at all.
Predictions
I think partnerships are a must, and there's a gigantic chance that Coinbase and FB will partner up on this launch. Why? well, they've had a considerable amount of cross-pollination already in the way of personnel and management. So, it seems obvious to me that the path of least resistance will be to get the two giants together on the effort.
I'm also convinced Whatsapp, the chat application owned by facebook, will implement Globalcoin as well, possibly before Facebook.com itself does. In third world countries, Whatsapp is the #1 app, so this not only makes sense, it's the smart thing to do. Imagine, the possibilities.
What about Steem?
Nothing to worry about. At least not in my opinion. Steem is censorship resistant, Steem is a real cryptocurrency, and what Globalcoin is going to be is somewhat of a hybrid really. So, there's room, so to speak.
Besides, there's a considerable chunk of the population that won't touch mainstream social media with a ten foot pole, and as far as I know, we are not going to disappear.
But, What do you think?
MenO
I am worried that the asset of steem, censorship resistant can become its weakness, laws in Europe are turning very very hard, regarding rights (even of memes and fair use) or covers or anything practically even sharing sources or links, so at the moment Steem is in a limbo crashing to those recently approved laws. :( But installing a software as now might be mandatory for these networking sites that filters, tag authors in order for them to get revenue of their rights is simple impracticable for companies that are not huge like google... :( Still here... I use facebook, not fond of it, I prefer instagram even if it's now owned by facebook sigh! :/
too early to tell... no magicballs to tell us what's gonna happen. But, as long as we draw experiential value from it all, we are already in the profit so to speak.
I do not regret even if only for the people I've known on my journey... :) You know that quote its' about the journey not the destination right? :) Hey meno! hugs!
Truly you speak when you note that we live under government today.
That's why this is the worst possible environment for crypto to be adopted in it's final form. If that is what happens, crypto will become the fedcoin that strips us all of the anonymity of cash, and allows all our transactions to be parasitized by the vampire banksters who desire nothing more than to double their helping of our pound of flesh.
I will refuse prosperity today if I must exchange freedom tomorrow for it.
Thanks!
So, GlobalCoin is like Bitcoin, but owned by FB instead of everyone? 🤔
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Yeah, sounds like it.
Excellent review @meno and finally Facebook also wakes up and turns around to face the blockchain!
I know this to say ... I not use FACEBOOK... AND I soon also close my Instagram too :)) Just now I try bring some users here who I text lot in Instagram , and when I've done it... I go close my Instagram also :)
What would be the purpose of globalcoin
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It's a revolutionary idea where people could transfer money easily without banks and less fees. :P
In what fantastic hallucinatory world can you conceive of such a financial mechanism not being deployed by extant substantial stake holders with the intent of increasing their ability to track our transactions with ever finer detail with the purpose of improving their parasitic extraction of our wealth into their accounts?
Did you not note the institution of the futures market for BTC immediately prior to the crash? I was not alone in predicting that crash as a result of that development of BTC derivatives. It is with derivatives that the markets for PMs are obviously controlled, and how that control is effected via derivatives is easily demonstrated and widely known.
Globalcoin is a meme that reveals how cryptocurrency can be used to centralize our financial assets for easier parasitization.
If I'm failing to grasp the sarcasm in your comment, I apologize. I do hope I am.
Yeah, ofc it was meant to be sarcastic, that's what I hoped the :P smiley would convey.
I apologize then. Thanks for setting me straight.
No need to apologize, writing sarcastic comments is always risky due to it being text only. ;)
Burn!
Posted using Partiko Android
Take hundreds of billions of dollars and do not feel happy
now that is being generous. Its another way to steal even more data. ie get all transaction data of all the users on top of the rest
Max Kaiser is saying that it's gonna kill the alts. I don't think so, but for the regular joe and the regular jane, its gonna be helpful.
Once people will get serious about their privacy FB will shut because they have lowest security about data. And that pic is really COOL. Hahaha ☺️
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Steem is so much more as the many Dapps have been able to demonstrate over the last year! No need to fear only to work to gathet as much as we can now!
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