https://www.cnbc.com/amp/2019/06/05/facebook-cryptocurrency-coming-in-june-report.html
Government is gona be so mad. Let’s declare Facebook as a country.
So they’re building paypal/Venmo, but instead of being stored in a stable real currency in your account, it’s being stored in something highly volatile. How does this make sense for anyone involved?
What makes you think it will be volatile? It could just be another stable database coin....
Meaning that the value is pegged to the value of the dollar? Then what’s the point, why not just store it in the home currency for the user? Given that they are allowing FB employees to take their salary in this, there must be some sort of upside.
If it's not decentralized, censorship resistant, distributed, and immutable - it's not blockchain, it's bullshit.
Hope other firms don’t follow this
It is cheaper than paying them real money.
TC 560k Facecoin
1 million zuckcoin
Zuckbucks
How are they going to protect against FX arbitrage, other than limiting daily transactions to a puny amount?
So new component for TC?