Facebook to launch GlobalCoin cryptocurrency in 2020

[Nifl]

Yet another cryptocurrency that is not a currency but a highly volatile asset. Backed and owned by a company I wouldn't trust in a million years. But I guess that also applies to the euro xD

[3dcandy]

Yet another cryptocurrency that is not a currency but a highly volatile asset. Backed and owned by a company I wouldn't trust in a million years. But I guess that also applies to the euro xD

I remember way back when in my A-Level economics days when the teacher said....

"Basically a currency is proof of confidence in a country and it's govt."

[Saracen999]

No, I wouldn’t use PayPal from choice, and I wasn’t defending it, I was pointing out there are other low cost methods of sending (and converting currency) than using banks or a crypto currency. I just gave 2 (I have personal experience of) as examples!

Indeed. Choice is good, not least because different people make different choices, based on different needs, different priorities, different preferences and indeed, different personal experiences.

[Saracen999]

I remember way back when in my A-Level economics days when the teacher said....

"Basically a currency is proof of confidence in a country and it's govt."

There is (obviously) a bit more to it than that, but there's also a LOT of truth in that.

Part of the problem is that, at least with traditional currencies, some of that confidence is based on hard data, like economic performance, asset reserves, etc, but a lot is also based on more ephemeral aspects. And of course, forex trading is at least in part a straight gamble. And in part, spotting an opportunity, often a pretty fleeting one, and jumping on it. Jump correctly, make a fortune, but jump incorrectly and lose your shirt.

[Zhaoman]

Yet another $#!t-coin (or, more politely, a digital token) masquerading as a cryptocurrency. If its so called blockchain turns out to be yet another centralised database then watch as this thing get hacked and exploited to hell and back.

If they were serious about "leveraging the power of the blockchain" then they would have adopted bitcoin or one of the few true cryptocurrencies that are large enough to be relatively secure. No matter though, Facebook is dying a slow death and the real social media dApps built on a true blockchain might well be the ones to deal the final blow.

[Wrinkly]

I'm quite happy sticking with tried and testing British Sterling, I personal don't feel the need for a block chain leveraged currency from a
n American online social media giant

Even with these morons voting for Brexit?

[valhar2000]

Who'd be stupid enough to buy into this?

Millions of people, probably.