Facebook's blockchain team is expanding, what is Zuckerberg up to? What might it mean for Bitcoin?
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But the whole point is like you said, to be decentralized x'D What, they wanna do their own blockchain with mining and things? I don't think they really 'get' it. If they can just take away their coins whenever they please, then essentially they are just gonna' hope people buy these tokens and use them like game money? Will they be scarce and have value, and if so, if they rely on them and hold them all then might that imply they could drain their own money away once people get access to them and start cashing out? I don't know if I am understanding their intent correctly or their system. but if it is centralized, I think that will lead to some issues.
It might even be some back door thing for advertising or being able to monetize the data easier, but not a fan
Short FB long bitcoin :D
FB is not the only company getting involved in blockchain. Whether or not it can dethrone BTC's dominant position remains to be seen.
Yeah, big companies are a big part of the wild card
Firstly FB needs to overcome the massive undertaking of incorporating their trillions of bytes of data on the blockchain. Generally, platforms that are being built on the blockchain successfully and without incident are relatively new companies with not much data. Markethive is doing this from scratch. They are the next generation social network but classed as a market network. The last 10 years is old technology and FB would be hard pressed to run at full capacity on the blockchain, plus that means they would have to surrender the data they use that makes them the oligarchs they are.
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Good points!