I am coming across more and more people who are excited that Fakebook are set to launch a blockchain and an associated cryptocurrency...
They talk about it gushing about just how great it is and how they cannot wait, for anyone considering discussing this with me, or worse telling me how fabulous this will be for mass adoption of crypto... Let me save you a little time...
Don't bother! The thought of it makes me positively nauseous!
I have a couple of words to throw out, think of it as a word association game entitled words that remind me of cryptocurrency... Decentralized... Uncensored... Free from legislation and manipulation... Now let me think of these terms in comparison with Fakebook, there is only one expression that springs to mind...
None of the above!
What a bloody scam! How dare they? Absolutely how dare they???
Wow! It gets me so irate just thinking about it. Just how gullible do they think we are? Although, clearly, many are. For the longest time they monetised our content but not to share with the community, the creators... It was cashed in to buy Suckerberg another hideous tie for the next governmental grilling on shady practices and under-handed manipulation and espionage.
Oh and by the way, what the hell would they call their crypto?
Source
A. - Spycoin.
B. - Controlcoin.
C. - Bitcensor.
There will likely be repeated airdrops for those who vote the suggested way in the next elections or comment on ten vapid Kardashian posts.
This sickens me as it is quite literally the antithesis of what crypto is meant to be, this would represent the most bought and traded coin/token in the history of crypto and would likely find it's way into campaign trail funding, elector fraud and probably fund all manner of insidious, surreptitious and shady practices... Who knows it could finally be the one that informs the general public of just how volatile and dangerous this alternative economy is right now.
I have zero doubt it would have a huge, potential to make some money as the ((doubtless )) pump and dump cycles begin. This would be such an ironic development as a pre-cursor to proving that crypto-investing is dangerous to the average person.
###Ugh! I'm yawning!!!
Don't support such opportunistic scum trying to manipulate you into thinking that BTC has finally found a sparring partner and is ready to shake it down and replace it as a crypto of the people...
Yeah, right!!!
The trick to not falling for the doubtless upcoming scams designed to tap into the global zeitgeist of crypto is to stay alert, keep studying and to make yourself aware of al the new and upcoming developments in the space and always be wary of who is spearheading the team.
We've gotta learn to take care of ourselves, be more astute and look out for those magical propositions that seem far too good to be true.