Facebook is Reportedly Very Serious About Launching its Own Cryptocurrency

DooKey

DooKey

[H]F Junkie
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According to a report from the website Cheddar (WARNING autoplay video), Facebook is very serious about launching their own cryptocurrency. Of course they are citing anonymous sources, however, it may be true since Facebook has recently formed their own blockchain group. Anyway, it's still a few years off, but it doesn't surprise me one bit if true. Time will tell. Thanks cagey.

Executives at the company regularly talk about future initiatives with their employees, and they tout the company’s 10-year roadmap in public presentations. But plans for blockchain have been omitted from that roadmap, and top executives have been tight-lipped about any plans for crypto, the people familiar with the discussions said.
 
What a coincidence, Pied Piper is about to do the same thing!

I'm sure no one will abuse it XD
 
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Any word on names? I may just reserve the only logical choice for a domain name: Zuckbux.
 
oldmanbal said:
I thought we were going to make dick jokes about pied piper :(
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It's ok champ. You can go a head and make all the dick jokes you want. You earned it since you went down for a nap without a fuss, and ate all your spaghetteos.

Father-kneeled-down-talking-to-son.jpg
 
Facebook can also get very serious about <censored> with a <censored> <censored> up their <censored>.
 
This is where Facebook can pay the end user after selling their data. See, they aren't so bad after all. You don't like that your privacy being sold? Here have a Facecoin. Whoops, was that your phone number that got loose? Have extra coin.
 
I can see some will need to put some Pampers on

Now Facebook could decentralize and use everyone computer to hold chunks of Facebook data. Of course totally encrypted, private and for use of your computer, storage space and some performance they will throw you a few coins. If privacy is lost some how it won’t be their fault.

Just that such a system or blockchain with that much data I would think would be Uber slow and would not work. So what this is all about I have not a clue. I can see Amazon, Microsoft, Apple doing this once regulations are set in cement
 
Blockchain isn't necessarily Cryptocurrency.

It's more likely that they'd use it to tie together data.
 
There was talk about that with Titanium, replacing data centers but it was hacked and the ico holder got millions while the project is in limbo. Blockchain with many TB of data would not work. Pointers to real data but even that I doubt will work. How would the data be verified? Hash?
 
Can all of this cryptocurrency stuff just die already so we can have normal priced video cards again. I'm in need of an upgrade but I don't want to pay $100+ over MSRP just because all the miners are buying them up faster than they can make them.
 
MrWrong said:
Can all of this cryptocurrency stuff just die already so we can have normal priced video cards again. I'm in need of an upgrade but I don't want to pay $100+ over MSRP just because all the miners are buying them up faster than they can make them.
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You already have cards at MSRP. The "normal priced video cards" argument has been over for a month.
 
Soon ads will be less of a problem, we will have to have mining blockers instead.
 
kirbyrj said:
You already have cards at MSRP. The "normal priced video cards" argument has been over for a month.
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Maybe for Nvidia cards but that is not the case for an AMD card. The RX 580 launched in April 2017 for $229 for the 8gb version. Every place I have looked have them going for well over $300 still. That doesn't seem like a normal price to me for a card that is over a year old.
 
hell they've probably already been using their platform to mine for bitcoins for years. might as well make it known, that way they can suck even more of your cpu cycles (and your soul)!!!
 
noko said:
. Blockchain with many TB of data would not work. Pointers to real data but even that I doubt will work. How would the data be verified? Hash?
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You've got it. That's just tokenization, it's pretty normal. You could establish a token for a picture, that establishes your ownership of it. If you delete it then everything loses references to it and it's gone. It kind of becomes an immutable key value store but one you can transfer ownership of.

I dunno, sounds weird and I doubt I have it right. I just can't see why they'd do a crypto currency, but I can see why they would want a really strong chain of custody and attribution on information and assets.
 
Iratus said:
You've got it. That's just tokenization, it's pretty normal. You could establish a token for a picture, that establishes your ownership of it. If you delete it then everything loses references to it and it's gone. It kind of becomes an immutable key value store but one you can transfer ownership of.

I dunno, sounds weird and I doubt I have it right. I just can't see why they'd do a crypto currency, but I can see why they would want a really strong chain of custody and attribution on information and assets.
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What would happen to the blockchain size after millions upon millions of writes and deletes. It would become utterly huge. Blockchain history is not erased. Hard forks with only current network data? This could lead to errors. You don’t go back in old blocks and modify contents.
 
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