Why the "ZuckBuck" (Facebook's Global Coin) is neither global nor a cryptocurrency

Much has been written and discussed about Facebook’s upcoming Global Coin during the past few days.

Barry Silbert tweeted:

The launch of Facebook's cryptocurrency will go down in history as THE catalyst that propelled digital assets (including bitcoin) to mass global consumer adoption. Will be remembered as just as important -- and transformative -- as the launch of the Netscape browser

Buckle up

And Caitlin Long makes 6 predictions about Global Coin on Forbes.

And then there is the fantastic clip about “the ZuckBuck" by The Crypto Lark:

Some people think that Global Coin will be good for Bitcoin and the crypto space. It will draw attention to it and raise awareness.

I’m not sure about that. I’ve just written about it here myself this week.

I am very concerned about Global Coin. I do not think it will contribute to mass adoption of cryptocurrencies. Because it isn’t a proper cryptocurrency. At all.

The Crypto Lark explains all this in a really great and engaging way, and I wish everyone would take the time to watch it. Especially crypto beginners, who do not know the difference between crypto (as in Bitcoin) and crypto (as in Facebook) yet. Taking the 20min to watch the video above will make everyone a LOT smarter.

It will also make people think twice whether they want to get zucked into this or not.

I hope this video gets widely shared! Enjoy!

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About the author:

Anja Schuetz helps absolute beginners to become confident crypto investors. She also consults as a Customer Communication & Operations Manager for blockchain start-ups.

Anja offers a Free Bitcoin Beginner's Course when you sign up to her Conscious Crypto Museletter here: http://anjaschuetz.net and has also written a Beginner's Guide to Steemit