Facebook, please go away! - Facebook to buy Coinbase?
I just read a short article that in my view is very, very disturbing. There are some rumors out there that little old Zuckerberg is considering purchasing Coinbase. This to me feels like a kick in the gut of epic proportions.
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It almost goes without saying that Facebook is today's most clear example of everything that is wrong with Social Media. Of course, there are some out there that believe that I'm too harsh, that I'm simply speaking against them because I'm salty or something. To those still wearing the wool over their heads, I just have to say ITS TIME TO WAKE UP.
The best explanation I've heard so far to describe Facebook's business model is one that 99% of its users have absolutely no clue of. I find that curiously ridiculous. Imagine if anything else worked like that, imagine how it would be if people gathered at a location, but nobody really understood how the venue, the bar, the business made any money. Regardless, everyone is happy laying down in a bed of ignorance.
How does Facebook make most of their money? - The simplest way to explain it is to say - "You are their product" - They sell your information, your habits, your location, your likes, your dislikes, absolutely everything about you is of public domain as long as you use their platform.
I don't know about any of you, but this bit of knowledge made me leave and never go back. I'm not OK with a company selling my information to make money without my consent, and I can't imagine anyone who has really thought about their practices being comfortable with it neither.
So now.... Buying Coinbase? What do you think would happen? What do you think Zuckerborg would do with the information, specially when it scales. The mere thought makes me want to yell at a cloud in frustration. I hope that the rumor is just that, a stupid rumor.
Funnily enough, maybe to the people who are still standing on the sidelines this would be a sign everything is OK. But, to us, to those of us who left Zuckerbergia we couldn't care less about the possibility.
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FB failed in many ways dealing with ppl's trust, and succeeded in many ways dealing with brands, regulators and lobbyists...
This is enough evidence to be on your side and against such acquisition. But capitalism my friend... there's no escape from it!
The total market cap of cryptos is less than 350billion and this make them vulnerable to capital
If Facebook buys coinbase , then how much can our crypto market go it? what will happen in the crypto currency market. How will steemit future be?
I'm not sure if steemit will actually make it, but its important to know that steem is not the same as steemit.
So the platform itself could change, evolve or disappear and be replaced by something else entirely running on the blockchain.
Im actually in the other camp on this. It would be amazing if Zuck buys Coinbase. What Crypto needs is mainstream adoption and what is more mainstream then Facebook? Our grandfathers local newspaper?
Not to ruffle your feathers but i think we have this kind of "This is our private club" behavior and we dont want the mainstream bs we ran away from to taint it.
I understand that, but in the long term, if we want mainstream adoption we need to accept the good and the bad.
Always taking into account that our benefit will outweigh the discomfort of it all.
This of course might just be payed rumors to test the field by Facebook, or a baseless rumor by a news site for clicks, but all that aside....
I would just stop using Coinbase if it bothered me and move to an another exchange. New people that have trust in facebook would come pouring in, price would rise, and we would really all be better off.
I do see you line of thinking. We need mainstream adoption, and like I said above I have a ( wall). I really just don’t trust Zuckerberg. This is just like walking on thin ice, who’s the good guys who’s the bad guys???? I can also tell you Coinbase, like other exchanges has it’s problems, and yet I still trade there.
I think you guys are missing the bigger picture. Whats the rush, cryptocurrency adoption will come. Let's do it the right way, the decentralized way.
Could you imagine if Zuckerburg sold facebook to Yahoo for 1billion when he got the offer? That's what coin-base would be giving up by selling out. A couple of years ago Whole Foods could have bought Amazon. We live in rapidly changing times and if Coinbase even had the option to sell, there would be no reason to give up an amazing future for some short-term monatary gains.
I wouldn't be suprised to see coinbase capable of buying facebook a few years from now, even though they would not want to.
No one knows how any of this will play out. This is really the wild west of investments. Up till Crypto if you wanted to invest you had traditional markets only open limited hours weekdays. Facebook buying Coinbase/ Coinbase buying Facebook, this will play out in it’s own sweet time i’m just holding on and enjoying the ride 😎
Good guy, bad guy... The distinction is blurry in the business world. I would probably think Zuck wasnt that bad if i met him on the street. He probably isnt that bad at all.
The problem is the philosophy behind it.....
But really... He cant corrupt crypto, he can only help it. If he can bring mainstream adoption, i couldnt care less if he made Coinbase into a "give me your fingerprints, your DNA, and your pets name"... I just wouldnt use it...
... but the news that he bought Coinbase would rock the world
I guess I get your point, and you are probably more correct than I would like to admit. I just don't trust facebook, not even a little bit.
I really hope this is just a rumor, so many of my friends are on Facebook....and to stay connected i have a page 🙁. I have tried to get some to switch to Steemit, no one is interested. This would just give zuckerburg just more control/power. 😡
from your response to silentscreamer, it seems you and i are on the same page.
That’s quite the rumor for sure, image what he could do all that information, I’m quite sure that coinbase would never be the same, or trusted.
i would probably never use them again.. that's just me
Society is going to be tokenized, everything and every aspect of life will be effected. Is it any wonder that corporations will become the inheritors of this "revolutionary" movement of cryptocurrencies? The phoenix rising from the ashes of burning world currencies with a coin and binary "010101" in the backdrop. Conspiracy? Maybe... give it time... things are going to be getting very interesting. Let the lobbying and takeovers begin, secret or otherwise.
Someone will have to take over when "the crisis" hits. "I mean, look what you children do when left to your own devises." "You need your parent "State" to protect you!" "Ehem, we may have engineered everything from the get go, but don't tell anyone! Just a means to our desired end."
Self ownership - How? By claiming it! - How? People have been doing it over and over again all throughout history! Well then, what did they do? hmm, A good question!
Hello Meno! Hope your having a wonderful day! Peace and blessings to you. auf Wiedersehen.
to you as well my brother.
No wonder he's considering lifting some of the ban he placed on cryptocurrencies. I read about that from another source.
This guy is a gamer, we should not put a little fraction of trust in him at all.
I hope this plan fail, he should not spoil the world of cryptocurrencies for us like he does with the f**king facebook
there is something cooking here, for sure.
Sure, it is visible to the blind and audible to the deaf.... Lol
This make sense brother, it is quite kind shit rumor that doesn't have standard nor right backing.
I'm with you on this one. Yes the cryptosphere could massively gain from this publicity but, I'm afraid it would only be a temporary victory. Cheers for the informative post :)
I had to start researching it and it seems it is only rumour indeed, but cause it came from The Economist, everybody treats it very seriously.