Facebook Crypto: More Boring Than You Could Possibly Imagine
Is Facebook serious? This is what the Facebook blockchain team came up with? Being able to transfer crypto in Whatsapp with a focus on targeting global remittances? Wow, and I thought I might need to be worried about competition with Steem... something that has once again been proven laughable. Seriously the person who pitched this idea simply watched a few Andreas Antonopoulos videos. He brings up this topic quite often.
All this good news just keeps piling up. This is the best thing I could have hoped for. Not only is Facebook not doing anything interesting or innovative, they are actually going to put Western Union out of business. Western Union charges the poorest people in the country 15% just to send money back to needy families. They are absolute parasites. Facebook stands to undercut this number quite a bit while buying themselves a lot of publicity.
Not only that, the adoption of crypto by Facebook will immediately counteract all the FUD. How many people out there still think Bitcoin is for drug dealers, hackers, pedophiles, and other criminals? That narrative is 100 times harder to push when anyone can transfer crypto on one of the biggest social media sites. This is so much win I can hardly contain myself.
These mega-corporations are getting tricked into building the infrastructure that will eventually make them become obsolete. Oh the irony! Facebook is bolstering a network that's going to make it trivial to send money anywhere in the world anonymously for zero fees. This Whatsapp money grab will be a short lived transition to mainstream crypto adoption.
The same idea is true when considering regulation. Oh, that's cute. Does regulation make you feel safe and in control? Go nuts! Build up all the walls. Corner all the markets. Patent everything... and then watch it all come tumbling down because you built it all on an open network where no one needs your permission to do anything.
They are building a castle with a moat and expect that to defend against a laser being shot from space. These dinosaurs are digging their own graves thinking they'll somehow avoid falling in. Dream on, lemmings.
Reddcoin already does this.
Crypto-currencies are supposed to be trustless... been when they are built by people you do not trust, do you trust them?
This is going to be an interesting dumpsterfire.
I've been meaning to get some reddcoin... just a little... seemed interesting.
I like that they are trying to make it so everyone can mine, just by keeping the wallet open.
The trouble is that it seems that 1,000,000 Reddcoin seems to be the minimum number to stake regularly. Although 1,000,000 is not that hard of a number to get.
Of course you can get some free Reddcoin here
http://reddcoinfaucet.info/ref/Rm12rooDr7HrMkZa2bLjVuRXs9ECsCQcKS
referral link
I was just talking to someone yesterday who used bitcoin being used by drug dealers as their main argument for why bitcoin will fail. They thought I was absolutely crazy that I was still using/hodling after it crashed so much. All I can do now is shake my head. The effort to try and convince some people against what they've been told isn't worth it in most cases these days. They'll figure it out when the mainstream tells them to.
Sad, but true. I have very smart friends who are in to tech and some of them even have decades of programming experience... none of them will listen to me.
They exclaim.
And to that I say it will solve everything because the core of all the problem on this planet revolve around money and the vampiric financial system.
I can't wait for crooks like Western Union to be completely dissolved. It shows how poisoning the banking system has become with these multinational companies completely squeezing the poor for their gain. Crypto and others like it are a way to revolutionize this in favor of the people over these thieves.
Facebook isn't going to survive the coming waves of change; I liked it when it first started because it was a good feel to it and was refreshing as a new way to communicate freely. With their clear involvement with the government and the censorship agenda they have cemented their place in the internet grave like MySpace and the others.
I talk about Western Union. Here in Brazil I'm working with some people to help them to use bitcoin to send money to other countries and even receive money in other coins too. I say to them that is the most beautiful way to transfer money without huge taxes.
Thanks for sharing
Cheers!
That's great to hear. We are all a small part of this movement.
Spot on although you missed one major point.
How will Facebook look when they get hacked and the honeypot is drained?
Recent events are showing their security is a bit lax.
Great point. Who secures the network? How centralized is it. If the answer is what we think it is, they are doomed.
Hell people will try to hack it just because it is Facebook.
This is really a great news, actually before i joined steemit, i always think bitcoin is an illegal money that is for yahoo or hackers but not untill i joined steemit, i now understand much more better, how it works and my view on bitcoin changed totally
R.I.P Facebook! Long live STEEEM!
I can already send crypto to anyone on facebook/twitter/youtube with one click. It's via a chrome extension called bit.tube airtime. No whatsapp needed, no app at all. And steemit better get its shit together because the tube people are starting a social network....
Joo dude
do you have any suggestions? ;)
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These guy's make me kind of angry.