Facebook and Chainspace are all over the news. What could possibly become of this union? Is there a Facebook coin on the near horizon? How will this impact the crypto future?
Lots of questions and as you can imagine there are pundits on both sides of the fence. But let me ask you, would in you invest in a cryptocurrency from Facebook? Well, that is not really a fair question. At this point, we have no idea how it will be structured. Would a Facebook coin be centralized, decentralized or a hybrid?
Facebook has a huge influence throughout the world. And so does Google and a few others. Google coin? It is not inconceivable that a coin from a major corporation could become the largest cryptocurrency in the world. And, what about decentralized applications. So much to think about.
Like many others, I'm curious if a Facebook, or any large corporation for that matter, will opensource their codebase. While there are valid rationals for open and private, think XRP. Large corporations profit models are not currently built on opensource decentralized processes.
Corporate success will undoubtedly be predicated on the perceived value by the masses. In particular, if people see how to make money or see an intrinsic value, corporate coins may catch on. It truly is a wild west show where almost anything goes. So it is best to be prepared to do your own research on each offering.
Final thought. Facebook, Google, and others have consumer bases that can turn hundreds of thousands of new converts to crypto literally overnight. While there is the trickle-down effect that may benefit the crypto space in general, what will this brave new world look like? We can only wait and see. What do you think?
Facebook coin sounds a lot like Pied Piper coin. :)
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OMG, @jmjury, I thought you were making an analogy. But it turns out there is a Pied Piper Coin, http://piedpipercoins.com/. Learn something new every day. Thank you!
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Really???
True😂😂😂... You've been watching too much Silicon valley
A Facebook coin would be the biggest ICO ever!
Marketing will do its job and #Facebook coin will be liquid for some time
Until the moment when they start changing the rules - and then everyone will run away - #bitcoin and #steem will eventually remain. -)
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Hi, @russia-btc. I agree that Facebook marketing is top of the line, perhaps only bested by Google. So, it is likely that a "Face Coin" would last for a while.
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HI - Yes, I agree - It's like TRON - while PR works, the coin lives - then peak to zero
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The only thing i've learned so far is that centralization is a key to success, and i don't give a single fuckk about decentralization as it's just a fancy word with zero background...
Facebook is too centralised...they will make a mess with blockchain
The general consensus is just that, too centralized and does not fit current business model. That said, it is possible that Facebook could adapt with a new model that incorporates some decentralization.
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This would make huge ripples in the crypto industry. Interested to see how it would play out. Great content BTW, Keep it up!
Thank you @the.success.club. I agree with your assessment that there would be repercussions. Although many believe it will eventurally bounce back.
Good information @guysellars
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Thank you @rajan1995. There are so many questions if this were to happen.
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This is interesting I wonder whether it will kick off
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I guess its good news for crypto world because adaption is slowly beginning to explode and will eventually be as huge as the universe.
This is exciting!
There is no way I would ever put a single penny into a Facebook coin. Theyve already shown their massive bias and ability and willingness to censor people they do not like.
Supporting a Facebook currency stands against everything I believe in. They are an evil group of snakes.
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That's a very good news
Facebook is a social network. Which plays a very important role for all of us. Thank you for making this beautiful post about Facebook
Facebook coin is basically spy coin, so stay away from that shit.
Congratulations @guysellars!
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I think we all will join one way or the other. Via Facebook, whatsapp and Google... it starts with a bit free and BAM they will push all the others out.
To be honest I think it will be a big mess. There are getting more and more coins and the benefit of it... is it still there? Or was it there at all? Every country has its own rules.
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You may be right @wakeupkitty, with regard to the proliferation of coins. And that the big corporations may push others out. Our industry is still in its infancy and we are definitely in the wild west. Let's hope calmer heads prevail.
First, they are just testing the waters, hyping their plans, waiting for the perfect moment.
Second, it will be true that many will be converted to cryptos overnight because of these companies, but like in FOMO, it will not that be a get rich quick for these users;
Third, its because it will sure a centralized cryptos that you need to pay for a token or sould what is remaining of your soul to avail of these tokens to be used just within the platform, and not readily convertible to fiat.
In short, we will be put inside a bigger box.
Thank you @guruvaj for the insight. Much appreciated.
Welcome.