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Facebook Plans To Create Its Own Cryptocurrency: Report (cheddar.com)
Facebook is "very serious" about launching its own cryptocurrency, news outlet Cheddar reported Friday. It's not the first time the idea of a Facebook coin has been floated, but it seems more apparent now in wake of Facebook's reshuffled executive structure and newly formed blockchain group. From the report: Facebook started studying blockchain almost a year ago, when a member of its corporate development team, Morgan Beller, began looking at how the social platform could use the emerging technology. At the time, Beller was the only Facebook employee devoted to studying blockchain, the digital and decentralized ledger that underpins cryptocurrencies like Bitcoin and Ethereum. Her work was thrust into the spotlight this week when Facebook announced that the vice president in charge of the Messenger app, David Marcus, would lead a new team to "explore how to best leverage blockchain across Facebook, starting from scratch."
Or, to put it differently, how could Facebook possibly get any worse?
I've abandoned my search for truth; now I'm just looking for some useful delusions.
who exerts this much effort and energy (literally, it's a ton of electricity)
Who says it's going to be proof of work? Maybe it will be a proof of stake coin. There are already other proof of stake coins out there that work.
Yeah, and once Facebook crumbles : where are you going to run to ?
I'll do the same thing I'm doing right now: sitting back with a beer and some popcorn, watching all the fools who participate in so-called 'social media' make worse fools of themselves, flitting here and there like dry leaves in the wind to whatever the next 'social media sensation' is. So they can be exploited some more, getting nothing of value in return. It's great entertainment in a schadenfreude sort of way, but also very, very sad.