Earlier quoted context omitted.
> Facebook-bucks Missed opportunity to call them "Marks", although maybe only German speakers will get the joke.
Word on the blockchain is that the crypto people are calling them “Zuck Bucks”
Well Zuck me.
Facebook’s New Cryptocurrency Gets Big Backers
201–210 of 277 posts
Re: Facebook’s New Cryptocurrency Gets Big Backers
#202Earlier quoted context omitted.
> https://edition.cnn.com/videos/tv/2019/02/16/exp-gps-0217-ga... > Bill Gates explains how no one knows how to stop bovine flatulence, a major contributor to climate change. I doubt we need to prevent cows from farting. As I understand it, all we need to do is stop killing naturally occurring methanotrophic[1] fungi[2] with pesticides and chemical fertilizers. [1] https://en.wikipedia.org/wiki/Methanotroph [2] https…
Or have fewer cows in the first place by eating less meat.
The two approaches are completely separate. There's no reason to do just one or the other.
Re: Facebook’s New Cryptocurrency Gets Big Backers
#203Is it really a cryptocurrency when it's completely centralized? No. This is just Facebook-bucks. Store dollars. It's has absolutely none of the benefits of a real cryptocurrency.
> Facebook-bucks Missed opportunity to call them "Marks", although maybe only German speakers will get the joke.
If a new "coin" is created every minute, it could be referred to as "There's a Zucker born every minute."
Re: Facebook’s New Cryptocurrency Gets Big Backers
#204Finally! A cryptocurrency with the ethics of Uber, the censorship resistance of Paypal, and the centralization of Visa, all tied together under the proven privacy of Facebook. Just what I’ve been waiting for.
I don't disagree, but uhm...
https://twitter.com/SarahJamieLewis/status/11394299139229573...
Re: Facebook’s New Cryptocurrency Gets Big Backers
#205Earlier quoted context omitted.
This smells of identity verification. They offer a payment mechanism which needs to be legally compliant. Bingo! Social credit system with verified ID. The crypto part is just to make sound hip.
When you get banned from Facebook for talking about whatever you can't buy or sell on the Internet anymore because you don't carry "the Mark". They are a private company so they can deal with whomever they want. You can still use cash. These tech companies want it so that if they ban you they can really screw up your life. Just look at people who have their whole Google existence wiped out because of some random poli…
It's called "cloud feudalism". Amazing how accurate that term is, during feudal times, the king was free to change their terms, and if you disagreed you could shut up or get out of the kingdom, which was a difficult process and meant cutting off ties with people and business partners (or letting them know about your change of address). And if the king said "You, you did something I disliked, out!", you could protest all you want but that would fall mostly on deaf ears.
Of course "deaf ears" is nowadays support emails being handled by copy-pasting bots.
Re: Facebook’s New Cryptocurrency Gets Big Backers
#206Why does this centralized stablecoin need to be crypto? It's not like they need to raise funding for this. They could have made their own boring but extremely well positioned WePay / Paypal alternative ages ago, and instead they waited until cryptocurrencies are past peak hype to launch this. Puzzling. I guess the only thing they have to sell here is the privacy aspect of crypto, but I doubt you'll get effective priv…
It's a token i.e. a financial derivative. So Facebook is not giving it's users bank accounts. So there is less regulation e.g. Know Your Customer. A block chain will make it easier to build trust because (some) third parties can audit it.
They will not be able to get around know your customer laws. I don't know why people insist on thinking that they can get away with money laundering if they rub a little crypto on their financial transactions.
Re: Facebook’s New Cryptocurrency Gets Big Backers
#207Earlier quoted context omitted.
And the magnanimousity of Oracle. And the carbon footprint of cow farts. https://edition.cnn.com/videos/tv/2019/02/16/exp-gps-0217-ga...
> https://edition.cnn.com/videos/tv/2019/02/16/exp-gps-0217-ga... > Bill Gates explains how no one knows how to stop bovine flatulence, a major contributor to climate change. I doubt we need to prevent cows from farting. As I understand it, all we need to do is stop killing naturally occurring methanotrophic[1] fungi[2] with pesticides and chemical fertilizers. [1] https://en.wikipedia.org/wiki/Methanotroph [2] https…
Also, feed cows seaweed to eliminate methane emissions: https://researchonline.jcu.edu.au/43225/
Re: Facebook’s New Cryptocurrency Gets Big Backers
#208Ugh. This will pass too. The value of Bitcoin is in the fact that nobody can control and censor it. It's black market money. If it didn't have this quality, it'd be useless. Nobody (meaning customers) cares about Facebook launching a coin. Facebook will not be the champion of freedom. How do I know? Ask yourself, if Facebook Coin is going to be available in Crimea (currently under sanctions) or Iran (currently under…
You're forgetting how much credit card transaction suck. As I see it this is the main problem facebook could solve through sheer volume of use: microtransactions. Granted this is about the worst way this future could come about....
Who thinks credit card transactions suck?
Re: Facebook’s New Cryptocurrency Gets Big Backers
#209Finally! A cryptocurrency with the ethics of Uber, the censorship resistance of Paypal, and the centralization of Visa, all tied together under the proven privacy of Facebook. Just what I’ve been waiting for.
That’s catchy, but provide credit where it’s due... https://twitter.com/sarahjamielewis/status/11394299139229573...
Re: Facebook’s New Cryptocurrency Gets Big Backers
#210I'll be honest, I'm excited. The biggest hurdle to Bitcoin adoption are on-ramps / off-ramps. Businesses and individuals dealing with Bitcoin frequently get de-risked by banks and suppressed by regulators (e.g: China & India). Libra if (a) can be interacted with via API, (b) can itself be acquired via bank transfers / credit cards & (c) not geo-fenced, will eventually be adapted into one of the many exchanges and wil…
Why would anyone want a facebook coin that is completely controlled by Facebook which can be controlled by the government when with Bitcoin you get complete sovereignty?
Because you want to be able to actually buy stuff other than drugs with it?