Global Crypto Press Association Editors Note: After watching the video above, I would like to you to consider a few things. Mainly - does this even matter?
We've remained fair, and when appropriate, critical of Facebook's plans as we've learned more, and so far it doesn't seem as exciting as some in the media have made it out to be, or has threatening as some in the crypto world have made it out to be.
This isn't criticism, but simple fact - the word 'adoption' is being used very loosely here. What we will see is more along the lines of Facebook 'inserting itself' into transactions, rather than 'adoption' which in tech typically implies people looking for a solution, and deciding upon the best one.
Another important factor that people are passing over with too little consideration - this is a stablecoin, automatically making it a very different animal than Bitcoin. The excitement that comes with trading and price volatility is what sucked us all into our current crypto-obsessions, all this is gone when it comes to Facebook's coin.
Even if successful, it could be a coin with millions of users and no 'community' tied to it. While millions use it, I've never seen a message board where thousands of PayPal fans get together, at least for anything beyond user to user tech support. I would expect the same if Facebook's cryptocurrency is successful.
Even if successful, it could be a coin with millions of users and no 'community' tied to it. While millions use it, I've never seen a message board where thousands of PayPal fans get together, at least for anything beyond user to user tech support. I would expect the same if Facebook's cryptocurrency is successful.
That's because using it won't be any more exciting than selecting Visa, Mastercard, or Paypal at checkout, it's just another option for straightforward payment.
For these reasons, I think framing Facebook's coin as a rival to Bitcoin is a faulty concept at it's core.
Facebook's coin will do nothing beyond proving that cryptocurrency works as an easy and secure payment method.
With that new confidence in the tech, success of Facebook's coin could actually spark a lot of people's curiosity in cryptocurrency, and end up sending waves of people c over to the cryptocurrency world we know.
-Ross Davis, Editor In Chef
Share your thoughts @GlobalCryptoDev
-------With that new confidence in the tech, success of Facebook's coin could actually spark a lot of people's curiosity in cryptocurrency, and end up sending waves of people c over to the cryptocurrency world we know.
-Ross Davis, Editor In Chef
Share your thoughts @GlobalCryptoDev
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