Facebook CEO looking into cryptocurrency

[VoluntaryAmerican]

Zuckerberg's Facebook post

https://www.facebook.com/zuck/posts/10104380170714571


"For example, one of the most interesting questions in technology right now is about centralization vs decentralization. A lot of us got into technology because we believe it can be a decentralizing force that puts more power in people's hands. (The first four words of Facebook's mission have always been "give people the power".) Back in the 1990s and 2000s, most people believed technology would be a decentralizing force.

But today, many people have lost faith in that promise. With the rise of a small number of big tech companies — and governments using technology to watch their citizens — many people now believe technology only centralizes power rather than decentralizes it.

There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.

This will be a serious year of self-improvement and I'm looking forward to learning from working to fix our issues together."

[timosman]

He seems desperate.

Mark Zuckerberg's personal challenge for 2018: Fix Facebook - https://www.cnbc.com/2018/01/04/mark...-facebook.html

[kpitcher]

I bet Zuck doesn't ever want to be worth less than those "Facebook twins" that keep showing up in the news because of their bitcoin holdings

[kfarnan]

a company built on centralized power and deceit, won't be in the future.

[CaptUSA]

Oh, I think you're going to see many corporations getting into block-chain cryptocurrencies over the next few years.

FB, Amazon, banking companies, maybe even Walmart. The only way I see to prevent their entry is for the Fed to crack down hard - and they might. Especially, if the reserve currency of the world is threatened.

[kahless]

Facebook adoption and use is not what it was. They will drive up usage by doling out a small amount of their own crypto for each like.

[devil21]

Oh, I think you're going to see many corporations getting into block-chain cryptocurrencies over the next few years.

FB, Amazon, banking companies, maybe even Walmart. The only way I see to prevent their entry is for the Fed to crack down hard - and they might. Especially, if the reserve currency of the world is threatened.

That's a big part of the desired end goal of crypto/blockchain. "Credits" to spend at your local Agenda 21: Amazon Whole Foods, Amazon online, Walmart store and FB online bill pay. The precious crypto credits will ONLY work at designated locations, thus driving everyone else out of business and capturing the entirety of commerce under a few tightly controlled options.

It's not a new idea though. Mining companies in small towns used to issue "company scrip" to their workers to use to obtain basic life-sustaining necessities at the company owned store. It wasn't money earned for labor and the practice kept the miners completely controlled by the mining company.

http://www.appalachianhistory.net/20...ore-scrip.html

Until the late 1950’s, when changes in federal and state laws, along with changing economic realities doomed the practice, many companies issued tokens, or scrip, for use by their employees in company run stores. This was especially widespread in the coal fields of Appalachia, where many miners also lived in company owned towns. In these company towns, or “coal camps,” the only store in town was usually owned or run on behalf of the coal company.

In theory, scrip was an advance against unearned wages and usable only by the employee to whom it was issued. In practice, many miners were never able to fully retire their debt to the company store and scrip became the unofficial currency of the community, even being placed in the collection plates of some coal town churches.
more at link

Keep mining those cryptos! Maybe you too can be like a 1920's Appalachian coal miner.

[Mordan]

Facebook adoption and use is not what it was. They will drive up usage by doling out a small amount of their own crypto for each like.

steem is already doing it.

facebook will do that? in a centralized way lol. imagine FB embracing crypto. that means the FED has lost!! hahahahahahahahaha crypto is a philosophy.

be your own bank. issue your own money!!! do you think FB will be allowed to issue their own money???? hahahahahahahahahahahahaha $#@! THE BANKS.