Facebook's GlobalCoin To Charge 10 Million USD To Run A Node

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To think that I was a little worried that Facebook's new "cryptocurrency" could compete with Steem and other open source projects. No longer.

https://www.trustnodes.com/2019/06/06/facebook-to-charge-10-million-to-run-a-node-for-its-globalcoin

“Encryption and cryptocurrency take power from centralized systems and put it back into people’s hands. But they come with the risk of being harder to control,”
_{-Mark Zuckerberg}

Yes Mark, thank you for explaining the entire point of the whole movement. We don't want you in control of a currency, you blood-sucking rat.

Just when you think these corporations will bring some competition into the space, we see that time and time again these projects become instantly corrupted by greed and the thirst for more power.

Even the name GlobalCoin is a hilarious joke. Like seriously, I laughed pretty hard when I heard the name. "I'm gonna take over the world with this shitcoin that I control!" LOL, Mark, please, DIAF.

Every coin is global.

The details of how GlobalCoin will work is still a secret. What is the point of even running a node if it's going to cost you 10 mill? I'm guessing these nodes are going to get paid slowly over time by transaction fees. Otherwise, what's the point?

This is just going to add more bloat to an otherwise already bloated system. "Global" coin will ironically undercut itself before even going to market. I say this because the whole development is still overwhelmingly bullish for crypto.

These corporations continue to train professional developers how to use real decentralized software. Those skills will later be utilized in real projects when these ones ultimately fail or need far less upkeep than the initial overhead cost.

These centralized projects have way more money to play with. They have built in advertising and infrastructure to spread the word, and the word is simple:

Crypto is the future.

GlobalCoin and other corporate coins may be terrible projects when looked at by themselves, but they bring viability to the entire cryptosphere. There's no such thing as bad publicity in this situation. This technology is simply too new and unknown for developments like this to have an overall negative affect on the space.