Facebook Adopting Its Own Crypto Currency is GRRRREAT News for Steemit!

Perc 360's January 6 article expands on Mark Zuckerburg's 2018 Mission Statement (about exploring decentralization and cryptos) and reads between the lines by stating with seeming certainty that Facebook is about to try to give Steemit a run for its crypto.

While of course only speculating for now, the very pro-Steemit Perc360 article reasons that Facebook may very soon

"...adopt already existing cryptocurrencies into their platform, many are  speculating they will instead create a new coin that may be awarded for  posting premium content. 

So Facebook could soon start paying it's users for their time spent on the platform? In case you're tempted to think "Oh no, Steemit's doomed!" I say think again!

I’d bet this actually turns out to be great advertising for Steemit! For over two years Steemians have been mocking FB and its lack of payouts - and therefore labeling time spent on Facebook as a waste of a user's time. The fact that they might now need to step up and pay their users to keep them there, means that Zuckerburg knows this accusation is 100% correct! For Facebook to add payouts to its model, they are outright admitting that Steemit's model is superior, and is most likely to stand the test of time.

By copying the business model, they validate it. Sure, they compete somewhat (perhaps leading to the argument that their users might finally stop abandoning FB for Steemit) ... but competition is usually very good for the public. Things will eventually come down to the question of "who does it BEST?"

Then immediately the comparisons to the non-censored environment of Steemit will begin. Facebook users will be delighted to receive payouts at first, but the more corporate model will in time - just like YouTube - face lots of disenchantment from users being flagged or banned for posting controversial content. Being introduced to crypto currency is in fact an intro to decentralization and Libertarian-leaning thinking. It starts a shift in thinking that could actually work against Facebook's goals of keeping their users hanging around their centralized, corporate platform.

If/when Facebook adds crypto payouts, it simply can't happen without the comparisons to Steemit being ubiquitous. I'd imagine many people hearing about Steemit for the first time, simply because of the numbers of users - and probably news websites - that will be saying "Well Steemit did it first," or "Oh yeh, Steemit's been doing that for years now. AND they don't have corporate advertisers, so your content won't be censored over there."

Facebook's validation of Steemit's original concept is way more likely to send tons of new users TO Steemit in the long run, rather than prevent them from migrating organically (as they currently are, else Facebook wouldn't feel threatened). And while investments in their coin (should they launch one) would likely be successful, I think "the Coinbase effect" would likely kick in soon after. MANY mainstream users could be about to be introduced to crypto currencies for the first time thanks to Facebook, but it won't be long before those same users discover that "FBCOIN" isn't the only game in town.

Just like new Bitcoin owners quickly discover Ethereum, Litecoin - and a whole world of alts - people who come into crypto initially through free Facebook currency, once their feet are wet, won't be long in figuring out that Steem is a great place to put their fiat.

So don't panic if "FBCOIN" shows up to compete with STEEM one day soon. It could actually be the very floodgate that we early adopters want to see happen.

"Imitation..." they say, "...is the sincerest form of flattery." And in this case I think it'll be some of the best free advertising Steemit could hope for.

Hodl!