What do you think about Facebook's Global Coin?

New okjydAh
Jun 10 29 Comments

Facebook announced they will be releasing their own crypto currency called Global Coin. How successful is this coin going to be?

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TOP 29 Comments
  • New qasvdz
    I just permanently deleted my facebook account and couldn’t be merrier! should have done it years ago
    Jun 10 4
    • And then you found Blind.
      Jun 10
    • Microsoft MSFTBRO
      And how shitty your TC was.
      Jun 10
    • Facebook khIU05
      What about Instagram?
      Jun 10
    • New qasvdz
      where else was I going to share my TC?
      Jun 10
  • Walmart.com / Eng QXHR44
    A lot of people I know have deleted their Facebook account by now. I honestly don't know how you all consider it a good company to be in. Ask yourself, who actually posts on Facebook any more?
    Jun 10 3
    • Facebook trsw33
      1.56 *billion* people use it daily. ~You~ might feel the way, luckily your experience is different from the rest of the world. Also Facebook the app is very different from Facebook the company. Do also not use Instagram, Whatsapp, or Oculus ever?
      Jun 10
    • New qasvdz
      right, whatsapp/ig really the saving grace
      Jun 10
    • Facebook whodattt
      As a contrast almost noone i know has deleted facebook. I do appreciate seeing friends or family from far away posting pictures or stories of their lvies once in a while.
      Jun 10
  • Dropbox ambo
    I don’t.
    Jun 10 1
    • Navy Federal Credit Union / Eng danda
      ^ this guy knows
      Jun 10
  • Amazon PT Cruiser
    I don’t think anyone trusts FB anymore.

    If FB was in peak, apps like OfferUp would not exist and FB would have destroyed them... but nobody trusts FB at this point, FB marketplace is wack.
    Jun 10 0
  • Almost guaranteed to be successful. You can now move money across currencies without getting any bank involved and charging their hefty transaction fees.

    Countries like Venezuela, Zimbabwe can now use a stable currency that isn't affected by hyper inflation without holding massive stockpiles of the US dollar.

    A huge and wonderful thing for the world that brings stability and reduces the cost of moving money around.
    Jun 10 3
    • Zuckbucks will mean your savings actually mean something in a 3rd world country.
      Jun 10
    • New qasvdz
      so like, bitcoin?
      Jun 10
    • No. Do you know what a stablecoin is?
      Jun 10
  • Microsoft readyy
    My big question is how much power will the node operators have. Who can seize funds?
    Jun 13 0
  • Verizon Media / Eng
    coderninja

    Verizon Media Eng

    PRE
    Yahoo
    coderninjamore
    Highly doubt it to be successful
    Jun 10 0
  • Facebook public2
    Curious how you all are defining success lol
    Jun 10 5
    • Uptake in the mid hundreds of millions
      Jun 10
    • Facebook public2
      What does uptake mean? You mean usage?
      Jun 10
    • Yes. Any currency needs a certain amount of critical mass. And like everything else, it benefits from network effects.

      That could be either localised (somewhere like India where 50% of the population is underbanked) or globally where it could massively reduce the cost of moving assets around
      Jun 10
    • Either way it's a huge threat to the banks and is FB eating into their share of the pie
      Jun 10
    • New qasvdz
      “it’s a success when all the dumbfucks of the world use it” - Mark Z
      Jun 10
  • People are answering this like 'Will I buy my latte with it?'

    Think about the B2B value.

    You can now have your entire global supply chain in USD without having to hedge against the Euro or the Yen etc.

    That hugely reduces your risk as a business to currency rate movements. It provides a lot of certainty
    Jun 10 3
    • Google Mr. Glass
      That argument applies to any stablecoin, not just FB coin. Focus on the differentiator here
      Jun 10
    • Absolutely true. JP Morgan launched a stablecoin recently that didn't do much.

      I think FB's differentiator isn't in the technology behind the coin (which, let's face it, is a glorified database) it's in the scope and scale in FB's distributing the coin
      Jun 11
    • Google Mr. Glass
      I can see a Venmo like use-case going viral over messenger
      Jun 11
  • Capital One IukP56
    Coinbase vs global coin. It’s good for competition
    Jun 10 0

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