Voted for

• Not a decentralised coin

I can't call it a joke, not with the amount Facebook is hoping to raise, and then likely have more pumped in. It could potentially be a threat, especially if set up right and being used commercially on Facebook with easy options to fiat. It could be everything STEEM is supposed to be as a digital global currency, just without the important parts of decentralization, freedom, transparency, privacy, etc.

For that reason I can't call it a waste of time, either, not for Facebook, or for that matter, anyone hoping to squash decentralization, freedom, transparency, and so on. It poses a considerable threat.

However, it's quite possible that it doesn't work, given that it won't have any of those important components. But will those on Facebook recognize it as such, or will they embrace it wholeheartedly? They're still using Facebook after all the scandals of data mining and selling, so who knows. People might flee to STEEM or other blockchains with social media in droves if this blows up. Or they might be sucked in even deeper and it might affect all the other chains.

So, it will be interesting to see how this unfolds, how it rolls out, and how it ultimately works. It being insignificant is best case scenario.