Facebook announced they will be releasing their own crypto currency called Global Coin. How successful is this coin going to be?
I don’t.
^ this guy knows
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?
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?
right, whatsapp/ig really the saving grace
Highly doubt it to be successful
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.
Coinbase vs global coin. It’s good for competition
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.
Zuckbucks will mean your savings actually mean something in a 3rd world country.
so like, bitcoin?
Curious how you all are defining success lol
Uptake in the mid hundreds of millions
What does uptake mean? You mean usage?
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
That argument applies to any stablecoin, not just FB coin. Focus on the differentiator here
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
My big question is how much power will the node operators have. Who can seize funds?
I just permanently deleted my facebook account and couldn’t be merrier! should have done it years ago
And then you found Blind.
And how shitty your TC was.