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RE: Thoughts about Facebook crypto
See, I have a big problem with this and this is how untrustworthy facebook is. I don't think it's possible to trust anything they have to say, so anything they promise in terms of privacy and security, something that is a pretty big part of crypto, becomes inherantly untrustworthy.
I worry more that if Facebook, with it's big market share, becomes a face for crypto, it's more likely people won't trust it.
It's kind of like with a gaming company such as EA. The premise of DLC isn't a bad idea, but it's gotten such a bad reputation because of EA shenanigans, it's in part poisoned the well for a lot of people. I worry a facebook Crypto would have a similar effect.
Well, it is impossible to ignore what Facebook will do with crypto if they decide to pursue it. The truth is that many people are happy enough with Facebook that they do not leave the ecosystem and do not seek alternatives even after all the information that has come to light.... Hopefully, it will not come to pass that Facebook is the dominant force in Crypto, but you can't ignore the fact that if they entered the space it would be a huge thing for better or worse... Regardless of what you think of the company! In many ways the lack of trust is not really an issue, it just becomes a tool that people use out of convenience... Hopefully one that leads them down the rabbit hole to other alternatives!
People hate EA, but they are still profitable and they still have a lot of 'gamers' returning to them!
EA's profits have been in rapid decline due to how high gaming budgets are in the AAA industry. Pair that with the decline of game sales over the years, EA's success hinders on all of their games being massive hits, something they are struggling with more and more as days go by (Especially with the Steam Refund Policy)
Similar with Facebook, facebook activity get slower by the day, Messanger being the only heavily used aspect of the site these days. It's still active, but there's no way to say they aren't in decline these days.
I do think it will be a big thing if they do regardless, they are still huge, but I don't see it being a good thing for anyone if it catches on with the people on Facebook. The best thing that could happen is it flairs out instantly, and enough people learn about Crypto and become interested in it, and realize how terrible facebook's attempt was. If it doesn't flair out immediately I can only imagine bad things to come of it.