I Wish Facebook Would Hurry Up And Develop A Cryptocurrency

in #steem6 years ago

The day Facebook brings out a token, I hope I have a fair bit of fiat sitting in an account. After the prices are pushed down due to the FUD, I will go on a buying spree. It will be a glorious time.

This might seem counter intuitive to some but I will attest that I am of sound mind. I swear I did not take any narcotics nor have any recent dental surgery. My mind is free of any mind altering substances including the mainstream news.

So why do I make such a proclamation?

Because I honestly feel that Facebook creating a token would be the greatest thing to happen to the cryptocurrency market. We, as an industry, would instantly be transformed.

Yeah but wouldn't this kill STEEM?

Not a chance in hell.

A Facebook token would introduce cryptocurrency to the masses. They have a reported 2B users a month. One of the biggest problems holding this industry back is that we are a long way from mass adoption. The FUD spread by the powers that are is immense. People are completely turned off by Bitcoin and cryptocurrency.

Facebook would change that instantly. Suddenly, cryptocurrency would be viewed in a different light.

The other benefit is that people would start to interact with tokens. This would provide some understanding of what is taking place. With familiarity comes acceptance. Many were scared of the Internet when it first came out. It was overwhelming and too technical. Over time, that perception changed and now we have half the world on the Internet.

So, a Facebook token would greatly aid in the acceptance of this technology.

I believe that if Facebook did this, they would instantly jump to most valuable token by marketcap. They would quickly surpass Bitcoin for the top spot. Facebook would create hundreds of billions of dollars in value almost instantly.

That would be amazing for the Facebook brand. Wall Street would love it. Consider what they have as a closed ecosystem. Bringing out a token would allow them to leverage all the commerce on that platform. It would be a major windfall since it is a centralized, closed system.

And personally, I would be applauding it all. I think it will be nirvana for all of us in the blockchain/cryptocurrency world.

Facebook sitting atop the cryptocurrency market while having their token being used by billions of people.

Do you know what that is called?

A Hacker's Wet Dream!!!!

Can you ponder what the Facebook honey pot would be worth? Think about the numbers thrown around when exchanges got hacked. This will be minimal in comparison to Facebook.

And I can guarantee, every hacker in the world would be tempted by that pie. Besides, it isn't as if Facebook is unfamiliar with being hacked.

Facebook could be responsible for the biggest shift from centralization to decentralization. What do you think would happen to the masses after their accounts are wiped out by a hacker? How does that affect confidence? People are already starting to lose trust with the centralized, digital establishment after so many hacks. This would be the cherry on top.

People in this industry fear Facebook and some of these other entities. They are no threat. Centralization can never stand up to decentralization. We are starting to move into an age where the advantages of decentralization is just too great to pass up. Plus, we are a lot more technical as a society than we were 30 years ago when the Internet was introduced. Finally, the front end interfaces are making it so that individuals operate the same way as they would on a centralized platform.

This is making it a lot easier.

Plus, they do not get hacked like Facebook, Equifax, and the banks do.

Come on Marky Marky...give us a FB token with your mug on it.

Mama needs a new pair of shoes.

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It's probably developed but it might not ever be released. I don't think Facebook can compete with Steem.

I agree to a point but I don't want it, I'd rather see Steemit put them out of business. Don't you think if Facebook did what we do, it would crush us? They already have the users and the masses......

You live with a scarcity mindset. There is no more "crush" anymore. That is scarcity thinking. This is a digital era world population is going up to 10 billion. Nobody needs to go "out of business" that is Win-Lose limited mindset. You don't want the mainstream to find out about Cryptocurrency? Please...

I see your point but I would prefer Steemit to become top dog...... Thanks for giving me another way to look at it @phoneinf

Who cares if we're top dog if we go x1000? There really is enough room for everyone these days.

I dont its a centralized system and honestly less and less people are using it. Your not free to post anything you wish. If they are going to use crypto then then should just use one of the main ones that already exist. perhaps when Ethereum sharing comes out they could token off of that.

To be honest with you I see a shift happening. People are getting off of centralized systems and going to decentralized ones. It seems to be the next phase on the internet. Crypto and decentralization.

Did you even read the article?

I am not so sure about this. I agree, that it would help to lower the entry bar for the masses.

But I am not sure where you going with this. You would invest into their token because you think it would surpass Bitcoin quickly. But you also think it would be hacked and destroy Facebook somehow? Wouldn't they have some form of crypto-login then? And you would then start to sell that coin after Facebook gets hacked? Or sit on it?

No, TM is saying that he'd buy a ton of Steem and other cryptocurrencies when Facebook releases it's token. His reasons for this are that it would introduce a tokenised economy to 2B people who then might also find Steem and other blockchain technologies. Basically he's guessing that Facebook would introduce everyone to crypto, and then fail because they'll centralise their token, which is a goldmine for hackers... everyone would then move to decentralised blockchains that are hacker-proof.

Basically Facebook would do all of Steem's advertising for it... by doing crypto terribly.

You summed it up best.

I would delete my Facebook if it wasn’t for the fact that I’d lose contact with a good portion of my family and friends in other parts of the world, and I agree with you 100% taskmaster.

Facebook having a crypto would definitely “mainstream “ crypto more than even Wall Street ever could, because people from all walks of life use Facebook. They don’t necessarily invest in Wall Street, at least not directly.

I’m amazed they haven’t done it yet.

Very interesting reasoning.

Очень интересные рассуждения.

I think that you're right that there would be a huge spike, then it would drop. Then it would go back up from there. It would pull money from other cryptos for a while, but it would also bring new money into the market. I wouldn't be surprised if stocks started taking a hit if that happened because people would want to get their money into something that was going to move faster.

Ha... the Suckerberg Token

Traded on the Marky Market.

I recently joined ONSTELLAR which is like a hybrid between SteemIt and Facebook. It is a brand new platform that still has a lot of room for growth, but I like it so far. It has its own token called ONST worth about twenty cents at the time of writing this comment.

It is site for metaphysical enthusiasts, so you might not be into it unless you like those topics. There are crypto communities on that platform, you would have a good presence there.



"The world's first decentralized social media platform, focusing exclusively on the extraordinary, the profound and the metaphysical."

If you join, please consider using my referral code:

https://onstellar.com?referral=ub5

Yeah but wouldn't this kill STEEM?
Not a chance in hell.

Why would it not kill STEEM?

Facebook killed Myspace and I think it would be the same here if it happened. They have the users and users wouldn't need Steemit... IMO Steemit needs to top Facebook like how Myspace got dealt...

I think that would kill STEEM in a snap ...
Also, I don't think FB is going to go crypto route yet...

True, only time will tell...

Also in the meantime of never owning your data......

MySpace was a company, not a blockchain...two totally different things.

I feel this is begining to be like Facebook convo, I just mean if Facebook did what Steemit is currently doing with the Blockchain, that wouldn't be good for Steemit because they already have mass adoption of users. Now putting myself 100% behind Steemit is where I'm at and see us crush the social media world in the future, is where I'm at and if Facebook goes down like Myspace, I'm really good with that....

How do you kill a blockchain?

Do you think that the development on here would stop because Facebook brought out a token?

Kill as in , no-one uses it anymore

I'd still spend most of my time on Steem. All the best looking people are here.

thank you for the compliment...

I agree and I do now.... @mattclarke

Why would nobody use it anymore?

Do you think a Facebook token would cause those on here posting to suddenly leave?

Suddenly ..maybe not
Gradually .. I think so

This is all hypothetical so your guess is as good as mine...although I am biased to agree with myself a lot !!

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