161–170 of 277 posts
Unfortunately, it's going to sell just because it's the big old facebook, your non-techy friend probably don't know the difference between crypto and food stamps all they know it's points for money, one is a boring piece of paper and the other is cool futuristic out of the matrix Bitcoin like super numbers
IMO this is it, the last best chance for a cryptocurrency to take off and actually be used as a currency and not a speculative vehicle. If Libra fails, even with all of Facebook’s resources at its disposal, then there is unlikely to be any viable cryptocurrency for at least another generation. Disclaimer: I hold a lot of stock in FB and no positions in other crypto.
and what on earth would be the advantage of paying in Facebook Marks instead of US Dollars?
My speculative take: Facebook’s main product has likely peaked, in terms of users and advertising unit economics. The brand is tarnished, it’s not cool for younger people, its value proposition has been heavily eroded by short sighted decisions. Instagram is doing really well, but by its nature is no substitute for Facebook. It’s too specialised, too narrow a demographic, and doesn’t have the same appeal all round. I…
Instagram has a billion users. What's narrow?
Why 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.
My speculative take: Facebook’s main product has likely peaked, in terms of users and advertising unit economics. The brand is tarnished, it’s not cool for younger people, its value proposition has been heavily eroded by short sighted decisions. Instagram is doing really well, but by its nature is no substitute for Facebook. It’s too specialised, too narrow a demographic, and doesn’t have the same appeal all round. I…
Earlier quoted context omitted.
Is this a joke about fiat currencies and their tendency to suddenly become valueless and cryptocurrencies tendency to suddenly become valueless by making a cross language pun connecting the owner of a new cryptocurrency and the name of a currency most famously known for a hyperinflation.
The Deutsche Mark in the mind of most Europeans (who pre-date the Euro themselves) was the most stable and strongest currency in Europe.
Earlier quoted context omitted.
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.
How is this different from the "digital coins" e.g. gems in pay to win games then? They don't give me a bank account, but it's still digital money, but not a cryptocurrency.
To replicate that level of success, Facebook must create a mechanism to convert tokens back to cash.
So the tokens are basically just used to get past regulations. Facebook will then gather some hard numbers to show that crime is negligible. Sensible governments will tolerate the tokens because it's replacing physical cash where crimes like tax evasion are rampant.
Earlier quoted context omitted.
I can't read the article in it's entirety but decentralisation is not what makes a crypto currency a crypto currency. Visa, Master card, Joe shmoe, anyone can start a centralized ledger that uses crypto.
What sort of crypto? Just hiding the ledger behind SSL or encrypting the data is not what makes the "crypto" in cryptocurrency.