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Facebook and Telegram Are Hoping to Succeed Where Bitcoin Failed (nytimes.com)
25 points by tim_sw 3 months ago | hide | past | web | favorite | 9 comments

>The coins from the other messaging companies are likely to look more like traditional cryptocurrencies, with fluctuating values and a decentralized design that would give users more control.

This doesn't seem right. MobileCoin from Signal is going to be a centralized Stellar network, no? I'd imagine FaceCoin will look similarly centralized.

It will be 10x better in software quality than Bitcoin or Ethereum with 10x better adoption by regulators.

Problem is, it can’t induce a speculative bubble (being a stablecoin), so 99% of the reason to be excited over a cryptocurrency no longer exists with this.

If FB only wants to enable cross-border commerce, they could use an existing open, distributed, independent cryptocurrency.

Instead they're creating their own token.

That tells us all we need to know about whether it will be open, distributed or independent.

A Facebook coin and "Bitcoin Failed" in the same sentence?! This must be #8918293948192849th "death of Bitcoin" proclamation. The price/value is the least significant feature/advance of what Bitcoin enabled.

Seriously, a Facebook coin now??? After all the recent Facebook's privacy failures and whatnot. I understand they're trying to build a similar ecosystem to what WeChat has in China, but really.

The media is funny, first they hype something, then they trash it - were in reality Bitcoin is just what it is. Some appear at times frustrated or desperate that they can't put a label on it. It's been there for quite a long time now too.

How did Bitcoin fail? If you're referring to transaction times, IOTA solved that problem.

I mean seriously though. I love how various media platforms ALWAYS talk about Bitcoin as a failure. What? But then again, they only think of “success” as some idea cut from the same cloth as current capitalist alternatives - the very alternatives bitcoin was meant to disrupt. Bitcoin is an incredible success IMO

So you're saying I can't buy my steam games with it and that it is not supposed to be used for paying for things?

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