There is a great deal of talk about Zuckerberg looking into blockchain and cryptocurrency as a solution for Facebook's problems. That company has come under a great deal of fire for its role in the propaganda spread during the election by the Russians. Whether they were involved or not, the fake news situation is certainly real.
Zuckerberg is one of the most powerful people in the world. He has the ability to control the information flow to billions. For this reason, he is someone to pay attention to.
In my view, billions of people learning about and getting involved in cryptocurrency is great for humanity. We finally can see an alternative to the bankster controlled system which is presently enslaving people. Facebook has the ability to instantly put cryptocurrency into the hands of billions. This would be a very good thing.
Of course, in the process, it would most likely crush STEEM. Everything that is being done on here could be established by Zuckerberg. So why won't it happen?
Let us start by looking at what a blockchain is:
A decentralized, open ledger whereby transactions are verified by unknown users according to rules established by consensus.
No matter what he tries to call it, I doubt Zuckerberg is going to set up a blockchain. He will not decentralize his empire. In fact, the system will not allow him to do that.
Marky Mark talks a lot about trying to do what is best for humanity. Along with his wife, they set up a foundation that will be funded using Facebook shares to help cure the world's ills. So, perhaps he got the "I got mine, now I am going to save the world" syndrome.
Even if he did, he cannot kill Facebook's value. That is something he is dependent upon to fund what they want to do. Facebook makes its money through advertising and the selling of data. Establishing a blockchain could eliminate this. Under that circumstance, where does the revenue come from?
At the same time, even if Zuckerberg suddenly is all heart, the banksters are not. While he has control in term so voting, there are plenty of institutions with a big stake in Facebook.
These 10 funds have 30% of the company. They might not be able to stop Zuckerberg via vote, they can dump the stock which would collapse the price. When you follow it through, this would cut into the money him and his wife want to use to fund their save the world projects .
A decentralized blockchain would make the value of Facebook plummet. Following that path would enable anyone to build upon it making Facebook's value next to nothing. Sure, the new blockchain might be worth a ton but the apps are easily duplicated. Part of Facebook's success comes from the fact it is not easily duplicated.
So while 2 billion+ people suddenly introduced to cryptocurrency and getting paid for their activities on there would be a big step forward for humanity, I simply do not see it evolving that way. A Facebook token will be a centralized, controlled item. It will also offer people minimal rewards. Do not forget, YouTube already pays people, although most receive an insignificant amount. It stands to reason that Facebook will do something similar. Most of the reward pool would go to the company.
STEEM does not have 2 billion people using it. However, it does have a blockchain. Even if Facebook implements a token, there still is the ability to control and censor. Using this as a way to give the community the say over the news is just a mirage. As long as it is on Facebook servers and the code is closed, anything can be changed. The only way to truly divest from the heat coming on Facebook is to set up a fully decentralized, open blockchain whereby they cannot control what the community decides. Going this route means they also cede control (and value) of Facebook.
It simply is not going to happen.
Therefore, let us all keep Steemin' and welcome all those displaced Facebook users onto STEEM.
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I totally agree on the fact that facebook wonΒ΄t copy steem neither setup a blockchain that might rob them of their power they currently have. They are just depending on the money from advertising and do a great job on it to be honest so why change a running system?
Anyways in case theyΒ΄d setup a centralized token, which theyΒ΄d own the biggest stake in it wouldnΒ΄t make it really different from Steemit. I mean the founders own the biggest chunk of all steem in circulation.
That is all true @steembusiness.
I am not sure, but I believe that they are powering down. I know @dan has been and we saw some big movements of SP out of the steemit account. Sure it might just be switching hands but, if I am not mistaken, I read that @ned said during Steemfest that they would be reducing their holding.
We will see if it comes true.
Well maybe Mark will, maybe he won't, anyway Steem is moving forward: join the Steem Thunderclap to make Steem trending on Twitter and Facebook:
https://www.thunderclap.it/projects/67370-steem-capacity-scalability
Yea we might not have that today but nobody knows of tomorrow. Facebook started like this too and trust me ,in my own opinion, I don't think people will leave steemit for Facebook when Facebook decides to adopt blockchain. What happened to having two accounts?
Well let's just see how things unfold.
daily 5-6 k accounts created avg. on steemit and sometimes 10-15k it increasing day by day will reach to the moon
It will...organic growth is the best growth.
People are in a hurry to get millions of users on here....they want to put the cart before the horse.
Millions of people signing up means that we will see lots of trolls, spammers, and dummy accounts. At present this are issues, but minor ones. As we progress, with more people buying into the quality content concept, we are going to see the activity along these lines spread. This will help offset the trolling mentality which will inevitably come.
Trolling doesn't pay on Steemit though and never will. The trolls would have to invest heavily in SP and then ruin their own platform/investment, and there's just no incentive to do so. No one with SP will upvote them, they won't gain visibility and then they'll get bored and leave (in my opinion).
Haejin has put plenty of cash in.
This comment has received a 0.31 % upvote from @booster thanks to: @jassi.
Anecdotal blockchain story:
I am a contract worker at but not for a big name health insurance company. Walking down a hall in our building yesterday, passed a conference room with maybe 70 people in it. On several large flatscreen displays was one word in all caps, BLOCKCHAIN. Call it a guess, but given vast amounts of privacy issues related to HIPAA regulations, I canβt imagine they were discussing an open source distributed ledger. Like FB, theyβll likely be using the word blockchain to describe whatβs really a database.
Bingo @preparedwombat.
That is exactly what these corporations are referring to when they talk about "blockchain". They have no interest in blockchain since it destroys their business model. Hence, they are really talking about shared databases.
As for the medical, I agree that is what is being referred to. However, I think ultimately it moves past that point, at least for research. There are some articles I read about companies who are trying to figure out some privacy aspects for blockchain. For example, I read about an open supply blockchain that shippers are using. Of course, one company does not want the other to know how much and where things are being moved. Hence, this outfit was working on ways to use the blockchain while keeping some data private on there.
I dont know how it will all turn out but imagine if all medical histories are on the blockchain but total privacy. The reasearchers (along with AI) could look at the data on all cancer patients, say, and come up with advancements in their research.
Perhaps a pipe dream of mine but I believe someone will break that code and figure it out.
Argggh. Blockchain will become the new buzzword and yep, those using it will have it all wrong. Too lazy to actually take the time to figure it out. I love love love the whole decentralized aspect and enjoy watching those with their money-minds stuck in the 20th century trying to figure out how to get around it and make it bend to their narrow way of thinking.
Facebook has been around for almost 15 years now. Of course there will be many many many more users on that platform than there is on steemit. We should give steemit another 5 years to let it fully bloom first.
Also, I am no expert on blockchain technology, but even if facebook decides to create a blockchain, how are they gonna get all this existing accounts onto that blockchain because these accounts were not created on a blockchain to begin with. And even if there was a way (there might be, I don't know coz as i said, I'm no expert) that's not going to be something you just decide to do and do it!! We're talking about billions of transactions being attempted to be processed at the same time and this has realistic risks to collapse even strong and established blockchain.
Steemit has an advantage here that all our accounts were already created on this blockchain and so are all the newly created accounts. We've been doing it gradually over time, which already puts us a couple years ahead of facebook if they were to implement an blockchain.
With the restrictions of FB and Youtube I think we are going to start seeing a lot more people here.
One rumor I could see happening is FB adopting some kind of crypto that could be used on the site, I think I heard litecoin was a maybe. But that wouldn't really change anything there.
I'm not sure how they could implement the features of blacokchain that people want, because those features are basically the antithesis of FB and youtube's profit based model
I certainly agree @jakeybrown that FB and YouTube, for now, are assisting STEEM. Their actions are driving people to seek out an alternative...and STEEM appears to fit that bill for many.
Will this continue is the question? I am sure both cannot help themselves since they are under pressure to perform for the Street. Also, at least in Zuckerberg's case, since he has voting control, everyone knows he calls the shots. I am sure he is tired of all the bad press and hammering he is taking about the elections and the fake news. His brand is being tarnished even if one doesnt believe any of the stories. It is in the media and the masses tend to believe what they are fed.
All Facebook is doing is pushing people away from their stupid policies.
Facebook hasn't found a way to make money on individual sales of goods, so they ban them. No coin sales, no guns and ammo talk, no knifes, Mr. Z can kiss my fat arse.
Steemit is the place to be, don't let anybody tell you different.
Great info Task. π
Thanks for the comment @wonderwop.
Well on the blockchain you can talk about your guns, knives, and ammo...you can sell you coins...
I am not sure you can get Marky Mark to kiss your fat arse on it though....that might take a bit more technology.
π
I was just talking to my friend about this last night. The understanding of what a blockchain is is where most people fall short of understanding cryptocurrency.
The true value comes from the fact the token is there and we control it.
In my opinion, all he is going to do is build a big, enticing honey pot that will be the gold mine for people who are willing to put in the work to acquire it.
Great post. Facebooks problem is going to be the blockchain Facebook that pops up over the years. When phones get made on the blockchain and start getting filtered into the population it will all start changing the game.
Then again, it may not even be phones, Augmented reality could be further along by the time this happens and we could be seeing a connection between our bodies and our blockchain links.
Now that is going to be some next level implementation.
Another very valuable aspect to this is that any developer in the world can take the code, create whatever he or she wants to, and attach it to the blockchain. This sends the innovation curve through the roof. Facebook, no matter how it structures things, without a decentralized blockchain, will always have some type of approval process. Plus, most of the programming is going to be done by Facebook employees since all the code isnt going to be out there for all to see.
This takes the innovation and sends it downward.
Totally. You can see the way this has been implemented across the Steem blockchain. Created so many avenues for growth and diversity.
And we are only at the beginning...6 months from now, I am sure there will be many other projects on this blockchain. There might be a few more tokens like Appics, etc....plus other apps could be developed.
Is there someone working on a Steem based facebook? Perhaps so.....
It wouldnt be so far out of the question....
It will be interesting to see if Facebook actually carry out the aim of integrating blockchain technology. I would be surprised if they ever actually implement it in a way that affects the user, my guess is that it will be just used to help streamline some of their backend operations. The shareholders would never allow it to be used in a way that fundamentally changed the company's profitability or business model.
That is a more likely scenario.
Then he could say he implemented blockchain but really didnt.
This entire process could be a big PR move to get the heat of Facebook.
Very good comment on the Facebook dilemma.
So we can rest easy on Steemit. Knowing that what we have
will continue to be so for a long time.
All we are watching for is the actual implementation of the opportunities that Steemit is providing to those that want and need it.
Thank you
Francis
Thank you @francisk.
I am not sure we can rest easy but we are on solid footing. Each of us needs to continue to push forward and do our best to improve our posts and interactions with others. The more we improve, the larger the improvement for this ecosystem.
We are at the start of something that can be really huge. Our keyboards are laying the foundation for something that can change the world.
Every stock market company is doomed eternally! Why? Because the rich and powerful will buy enough shares to control what direction the company will take. Facebook does not belong to Zuckerberg anymore. The moment they made their IPO he gave away his baby, even if he still owns 50.01% of shares. He is legally bound to maximize profit for the share holders and nothing will ever change that.
Will the blockchain technology be able to withstand that kind of control? Only time will tell but here we have much better chances to keep freedom of speech and reward every kind of voice.
One thing is sure: The old epic battle of light and darkness is being continued in the cryptocurrency world and will bring one of the biggest changes the world has ever seen with it. Hopefully into a utopian paradise and not one of those ugly dystopian futures we see in 90% of all sci-fi movies.
I'm surprised nobody seems to be trying to buy up steem yet.
I agree with you. The desire to change is not great when you are dominating a market. It is only when things start to go south that people start looking for what is going wrong. By the time it is too late.
Kodak refused to change not believing that digital photos was the future. They believed themselves to be a film company, which they were. Once the use of film decreased, things took a turn for the worse for them. After that, phones came out with cameras on them which put them in bankruptcy.
Blockbuster the same thing. Netflix starting mailing DVDs while working on their digital platform. By the time Blockbuster woke up, they were cooked.
Blockchain has the ability to do the same thing. In fact, I will go one step further and say that even if a company is aware that it is coming, they are powerless to stop the blockchain. This is an entity that eats up whatever gets in its way.
100% agree.. no way on earth Mark Z is gonna give up his fortune or his control of information
Fancy coming across your post! I was just looking for posts in one of the tags that a particular user often takes over trending with. Going for the positive approach of upvoting other articles rather than joining in flagging wars. Unfortunately most of the articles in New are cut and paste, so it was a relief to see your name there. Guaranteed to be something original and interesting.
Anyway, I digress. I wonder why MZ would even bother doing anything to change facebook to rewarding users when, let's be honest, most are happy enough using it without being paid. They've never been paid yet so why bother. Keep it all for himself.
Also, I'm wondering what his plans to save the world are. It's rarely good when it comes from controlling ego maniacs.
Thanks for the kind words @minismallholding.
While I cant be sure of his motivation, I believe all the negative publicity FB received and the hammering is taking in the media is taking its toll on him. If he can set it up where the MSM believes he cant control what is on there (a community based voting system does this), then he doesnt have to answer the questions.
Also, he might see the writing on the wall. He is a bright guy who has the ability to understand how technological changes can affect things. He knows blockchain is going to be huge and could post a threat to his business model. I cannot believe he thought that internet advertising, as it is constructed now, would be a money maker for him forever. He had to know that there would come a day when something else disrupted that model.
Hmm... just thinking out loud here...
I guess history tells us that these sorts of sites do lose popularity when some other fad comes along. That's probably why he bought out Instagram. The general populous moves from one fad to another. I think the uses of Facebook are changing more towards groups, the sharing of information and keeping in contact with old friends as people are getting disenchanted with the sharing their life side of it. I know many use messenger more than their Facebook page. However, restrictions and censorship could also drive away that sharing side of things.
I'm with a group who are all about birds and poultry, so sales are often made as people look for different breeds. Facebook has banned the sales of animals though, making it harder to advertise. Often you have to be careful how you word a sale or make it a discussion instead. How long before these pages are shut down though?
Okay, you've convinced me that facebook can't last in the format it has now. It would need to evolve. However, he still has a bit longer to render Instagram unbearable for the general populous.
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STOPSteem is the generator of first producer in many
look like really intrested post i am going to read it ...
https://steemit.com/philosophy/@tarazkp/why-i-see-facebook-of-little-threat-to-steemit
This guy's post might be of interest to you ;)
Steemit is a nice platform. Many people of Steemit work, especially in developing countries, have created their own employment. So one can say that, as many social media, Steemit among them is the best.
Perfectly said!! Facebook would never make a suicide mission just to follow a trend of technology . As stated if for some reason they would then Facebook would not be Facebook anymore. Steem on the other hand has always been using the blockchain and as such has no problems to develop and increase in popularity and usefulness .
steem is one of the biggest opportunities since the invention of the internet itseif....great times to be around................
Yeah I think this is true
They may say whatever they want
Steem cannot be crushed by anyone in this world until it's helpful to its users and pays them good money
We definitely do NOT have the bandwidth for 2 billion people. lol I don't think we have enough for 2 million but someday I think we will. :)
nice post...
thats awesome....best of luck...
keep it on
Thanks for this cryptocurrency news update providing....i like this steem resteemit done
Very good observation.Can't say anything right now,but i guess American government won't allow crypto to do well.They will try their best to stop crypto from blooming.Because if crypto currency goes in to full bloom it will cause serious problems to USD and America will loose it's supremacy,Zuckerberg is not a big issue but us authority will use him against crypto.Because he is already under pressure for the false news which spread out during election. Lets see what happens.
your thinking is great....you will running create this type posting....i waiting for your next post..
You are right. Facebook is coming down. Steemit is getting popularity day by day.
Best of luck.
steem is more helpful than facebook.so i prefer steem to facebook
Steemit is far better other social media earing sites. Its popular in all over world but especially in third world countries. Now people are getting aware and coming to join steemit community. Thus awesome social media site to earn for raise the standard of life.
People realized the fact, Those who are useing steemit they are almost left Facebook.
haha..... First of all, the caption of the title of this article really attracted me.
Steemit has come to stay, and believe you me, it can't go into extinction because more and more people are getting engaged in it day by day.
Since I joined steemit, hardly have time for facebook again, why will I even have time for facebook, it offers nothing . Steemit rewards the diligent and hardworking ones that devote their time to ensure it's growth.
Honestly steemit is the best thing that happened to me this year. Happy to be a member.
Nice post @taskmaster4450
Best advice ever. Speak on it taskmastah!
Awesome blog sir ... I stop using facebook after joining Steemit :D
Thanks for sharing your thoughts :)
Indeed I don't think that Facebook will be able to change their business model and the addition of their tokens would only give small rewards as it does not make sense for them to give the rewards to people.
FB has always been centralization and I don't think they'll open it op in a way that others will have access to it that are not a part of their company or under their payroll.
I agree with your opinion. Even if tokens appear on Facebook, their controllability will not give those advantages that are on Steem.
I'm pretty glad I decided to take a break from Facebook a while back. All in on steemit now! :)
I don't think if they were to adopt a decentralized system, unlikely as it is, it would kill steemit. We have a lot of things going for the ecosystem even as it is.
You're right. Big companies like Facebook will only embrace a new technology if it will help to make them money. Zuckerberg has probably heard so many smart people around him in Silicon Valley mention "blockchain" that he's finally decided it might be something that Facebook can use. But I think he's so caught up in the advertising-based model of media that it's already too late for Facebook...
Wao so nice post your thinking is great thanks for sharing God bless u
A good piece you have there.
Steemit has actually grown into a better home to be in than Facebook. So i don't believe Mark impending idea will work.
I think the slow, but steadily increasing, growth we have here on Steemit is enough to draw more attention than Zuckerberg's petty concept. I think you're right, it would remain largely centralized and very much the same as it is now, with rewards being very minimal. I think Steemit already has a, in my opinion, "unmatchable" appeal.
Great article! Resteemed.
What a important news.Thanks for share.
I didn't even think of this. An interesting question and answer.
I think if it was up to the Zuck, he seems like he might go either way if it was up to him. Both options seem very good for him.
I heard that Zuckerberg wants to use litecoin as opposed to bitcoin as an F-you to the Winklevoss brothers
I don't think a blockchain Facebook will kill steemit. That would assume that all steemit users would flock to facebook.
This is a complex world where you can use Steemit without using Steemit.com. You can use a blockchain fb and steemit.com at the same time. You can even use yours.org and steemit simultaneously.
The reason steemit is here and growing daily is that people appreciate the platform and community. As those two continue to improve steemit will continue to flourish.
For all we know, Facebook Inc or Zuckerberg already own enough enough crypto to take it over. For POS is basically βrich get richerβ, if they have a big enough stake, they effectively own it.
Why build a block chain when you can buy it? Even steemit Inc has a price.
It would certainly be different if Facebook was still a private company, and not a public one.
I wonder how a corporation, like Facebook, can go about acquiring an ecosystem like Steemit. They would have to buy all the outstanding shares (coins.) In corporate acquisitions, agreements are usually in place that dictate what happens to minority shareholders when they don't want to sell.
Cool article, @taskmaster4450
upvoted and resteemed.
l think it's important to spread the word on how blockchain works and let the general people know what's about, also to show the potential of steem.
have great one!