Everything You Need to Know About Facebook's Upcoming Cryptocurrency

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I personally feel it's incredibly worrying that Facebook will control what will quite likely surpass Bitcoin be the most widely adopted cryptocurrency by the mainstream when the highly intrusive, controlling and manipulative company already had so much power... here's a snippet from the full article:

"Facebook’s looking to stabilize its cryptocurrency against multiple international currencies—not just the dollar—as well as low-risk securities. As for how one might use Facebook’s cryptocurrency, TechCrunch says users who send money via Messenger or WhatsApp, also owned by Facebook, will incur zero fees. Meanwhile, the Information reports you’ll also be able to use ATMs when exchanging traditional money for crypto."

Full story here: https://gizmodo.com/everything-you-need-to-know-about-facebooks-upcoming-cr-1835333424

What do you think about the Facebook cryptocurrency?? ...will it be a good or bad thing for cryptocurrency and the world in general??
 

25schmeckles

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It's apparently being unveiled by the end of this month... so will be interesting to see. Hopefully, the fact that it is decentralized by nature will mean the worrying control aspect which you mention is not so bad (hopefully). But yeah the best tech minds in the world are behind it so you never know... especially when it comes to facebook :-/
 

Martin.

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it's been reported Facebook will cede control of the bitcoin rival to "an independent foundation" in an effort to both deflect accusations of centralization and soothe financial regulators.

I don't trust a word they say, unfortunately, I don't feel the wider population will feel the same.

Long live Bitcoin!
 

J.Babe.Abel

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f*ck facebook! I wish it was almost anyone else that developed this new global cryptocurrency... Trust score = 0%