> 1. The world could use an online independent currency
Could it? Why? Independent from who? Because watching the disasters and scams that go on in cryptocurrencies because they don’t have any regulatory oversight, doesn’t make me inclined to think an “independent” currency will be any better. Anyways, it’s not even independent, it’s controlled by a conglomerate of tech and finance companies and lorded over by Facebook, it’s about as un-independent as you can get.
> 2. Adding stability to blockchain currencies and having that work on a large scale is a good thing
Because as we all know, adding yet another currency to the mix has functioned to stabilise things previously. Except now this time it’s run by corporations and lacks anything about what made crypto currencies interesting or worthwhile in the first place.
> 3. Unlike government issued currencies, any monopoly or control facebook derives isn't done through force, it's by making a coin better than all the other coins. Other people are still free to make their competing coins.
In theory, yes; in reality, no. Humans are not creatures of perfect rationality that balance up all their options and make informed, ideal decisions at every point. The crypto currency market has been the perfect example of this: huge fluctuations due to hype and pump-and-dump schemes. Coins unequivocally do not succeed on their technical or theoretical merit. Moreover, all things being equal, I think a crypto currency backed by Facebook is something that should be avoided with a 10 foot pole.
Could it? Why? Independent from who? Because watching the disasters and scams that go on in cryptocurrencies because they don’t have any regulatory oversight, doesn’t make me inclined to think an “independent” currency will be any better. Anyways, it’s not even independent, it’s controlled by a conglomerate of tech and finance companies and lorded over by Facebook, it’s about as un-independent as you can get.
> 2. Adding stability to blockchain currencies and having that work on a large scale is a good thing
Because as we all know, adding yet another currency to the mix has functioned to stabilise things previously. Except now this time it’s run by corporations and lacks anything about what made crypto currencies interesting or worthwhile in the first place.
> 3. Unlike government issued currencies, any monopoly or control facebook derives isn't done through force, it's by making a coin better than all the other coins. Other people are still free to make their competing coins.
In theory, yes; in reality, no. Humans are not creatures of perfect rationality that balance up all their options and make informed, ideal decisions at every point. The crypto currency market has been the perfect example of this: huge fluctuations due to hype and pump-and-dump schemes. Coins unequivocally do not succeed on their technical or theoretical merit. Moreover, all things being equal, I think a crypto currency backed by Facebook is something that should be avoided with a 10 foot pole.