Facebook coin is coming to a spyware platform near you, what does it mean, for crypto and will it be good?

Sources
https://thenextweb.com/facebook/2018/11/28/aclu-demands-fbi-explain-request-to-wiretap-facebook-messenger/
https://www.news.com.au/technology/online/social/facebooks-big-plan-to-set-up-a-subsidiary-in-china-was-thwarted-in-less-than-a-day/news-story/8e4fb296440f586435f56d4ab47a13bd
https://arstechnica.com/tech-policy/2019/02/get-ready-for-a-facebook-sponsored-cryptocurrency/
https://medium.com/@lancengym/facebook-plans-to-become-worlds-biggest-central-bank-7d99d967b73c
https://www.theverge.com/2013/7/17/4517480/nsa-spying-prism-surveillance-cheat-sheet

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36 COMMENTS

  1. How would Facebook "control" the coin? It's just a coin? It's like saying an entity can control the dollar. It's just a currency. The only thing Facebook might control are the transaction fees. The only reason Facebook dominates social media is because it's free. If Facebook tries to charge high transaction fees to use their coin, people will just switch to a different stablecoin with lower fees. As long as merchants accept different stablecoins, which of course they will, Facebook has no power over the stablecoin space. All Facebook is doing is using its vast resources to introduce cryptocurrency to the masses. Thank you Facebook! Once people finally start using a cryptocurrency, and realize you cannot invest in a stablecoin, and realize it is not a "store of value" in any sense of the word (it's tied to fiat currency… duh), people will realize that Bitcoin is the only real store of value. Right on Facebook! Keep going!

  2. With Facebook's ban happy attitude why should I trust and invest into it? What's to stop them from tying the coin to our accounts and when banned we loose everything?

  3. They will probably give away some coins if you complete your profile on Facebook with more info and documents such as passport, drivers license etc.. To get more data from you !

  4. Agree 100% with this, but a rising tide raises all ships, couldn't see myself ever backing a Facebook Coin but I'll be happy to ride the tide with my other coins

  5. Your research is very helpful Lark .
    Not interested in F-insideous-book coin as well .
    The very government who are our own people , continue to dominate us taking away freedom ,they only shake hands with their partners ,never the community while they sit in their big rich properties and healthy retirements ,and we grow the country not them .
    Even KYC hacks on exchanges , privacy hacks
    I hope you one day do a video on best steps and which platforms like social media including decentralized may be helpful to remain privacy relevant .Maybe MINDS is a good choice (no plug)

  6. yes lark. talk that real thing. but cant support alex jones no way. no contra revolutionary. deplatforming aside, not supporting that, but the likes of and alex jones himself are dangerous..

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