Crypto Currency Thread
Discussion
I've been thinking about this and you're right. The single FB currency would enable them to get a flat fee view of the entire world economy - no exchange rates, no conversion, no fees.
It could actually be fantastic in many ways - you could run campaigns where you raise awareness of e.g. 'You just liked X's post. Did you know your daily Starbucks coffee is the same price as X's monthly rent...click here to donate 1 coffee to X'.
But also terrible in the sense of multinationals being able to run tax-free acquisition campaigns within a closed loop.
Needs more thought as I don't know their game plan and I've had a beer, but I'm not surprised to see the senate calling this one in.
It could actually be fantastic in many ways - you could run campaigns where you raise awareness of e.g. 'You just liked X's post. Did you know your daily Starbucks coffee is the same price as X's monthly rent...click here to donate 1 coffee to X'.
But also terrible in the sense of multinationals being able to run tax-free acquisition campaigns within a closed loop.
Needs more thought as I don't know their game plan and I've had a beer, but I'm not surprised to see the senate calling this one in.
guindilias said:
Isn't "The Zuck" beyond the law anyway? He doesn't seem to have paid much attention to anything else the Senate tell him to do. "Of course we will, Sir"
This is money itself. They may let the exploitation of peons slide. Not this. - gets on horse, lights cigar, rides off into the sunset*
bloomen said:
This is money itself. They may let the exploitation of peons slide. Not this.
Yep I agree, manipulating the great unwashed, no problem. Messing with money, the most holy or holies as far as the powers that be are concerned is another matter. I don't think even Zuckerberg has enough money to get this one past the politicians.Guvernator said:
Yep I agree, manipulating the great unwashed, no problem. Messing with money, the most holy or holies as far as the powers that be are concerned is another matter. I don't think even Zuckerberg has enough money to get this one past the politicians.
He'll fight the battle nonetheless & will be content to win just a part of it. I think the basket will be dominated by the dollar & close proxies. If politicians try and clamp down too hard, he'll point to Bitcoin and ask whether they'd prefer a currency they have some control over + its deep tx data or one that's utterly free & wild.Not surprised to see btc rising in value, but somewhat surprised to see other alt coins still tracking to such an extent. While the old school thinks being pegged to the dollar is what every crypto needs, this proves that btc is the real crypto peg. If your alt is not rising with btc it's worthless...e.g. funfair coin 
Thesprucegoose said:
Petrolsmasher said:
wtf is happening with the alts, its like they are no longer linked to bitcoin at all, its so irritating.
People cash out into BTC it has always been this way. Im invested in XRP and ADA, ADA is still 93% ish down from all time high but its not moved in price for weeks despite btc doubling.
dimots said:
If your alt is not rising with btc it's worthless...e.g. funfair coin
UNFAIR... one of my first purchases and the first I sold too. I had nearly 80K of those bought at not-quite the ATH but it wasn't cheap either. I took a hammering but luckily it meant I could pick up some LINK without having to put more fiat in, so every cloud. On paper it sounded great but it never worked out in reality. Insignificant partnerships, complicated KYC, not available in UK, fumbling over the gambling licence etc. It's pretty much dead now.Gassing Station | Finance | Top of Page | What's New | My Stuff