The Facebook coin is going to be an ETH token

The Facebook coin is going to be an ETH token

Attached: ETHonFacebook.jpg (687x689, 50K)

Most stablecoins are. The ERC20 framework is really useful.

SJW/BUGMEN/City Dwellers/Boomers are all going to make ETH moon. You are literally retarded if you don't see this coming.

I don't get the idea though. You load up some money to your facebook account, which automatically turns it into FacebookCoin token and then you can send it to your friends on Messenger? Each tx needs some amount of ETH as well though.

These two guys in the paper aside from Vitalik, have been also researching zk-snarks. Seems like the transactions will be private. That is good at least.

Maybe the usd to facebook coin conversion will have some fees with it, which value facebook will use to pay for txs in ETH itself.

Basically this. However I believe something catastrophic will befall Ethereum and cause a massive shakeout in the years leading up to mass adoption, allowing institutions to scoop up an even larger majority how they did with bitcoin.

Dunno, having an ETH token native to Facebook is a big adoption sign. Boomers can't ignore crypto completely anymore.

>Each tx needs some amount of ETH as well though.
only if it was happening on-chain. trust me, its not. its just some centralized facebook database that tracks facebookcoin balances. only if u need to cash out will there be actual ETH network usage, and they will charge you a fee that is like 10-100x higher than the actual gas fee

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I don't think this is happening here. In such a case, there would not be any need of a blockchain involvement:
>send a USD fiat transaction to Facebook IBAN account
>Facebook increases you USD funds on the screen and lets you send those numbers to your friends
>all balances settled in their database
>withdraw USD to your bank account when needed

Why would blockchain be needed here?

They are clearly having txs on chain. They even hired a team from College London that has researched zk-snarks. Zk-snarks are used for privatising ETH txs.

this

it's still very early for eth

>whats btc
boomers know its some coin
>whats eth
boomers aint got a clue

eth got another golden bull run coming

>Why would blockchain be needed here?
its not, retard.. its just buzzwords to pump Kikerburg's bags

>eth got another golden bull run coming
Eth already pulled a 1000x though...

you all have no idea about research, do you? that means NOTHING in regards to the facebook website.

they probably try to diversify their patents or shit. maybe start a subsidiary.

>Eth already pulled a 1000x though...
so did btc in 2013 upto $1k, but had another dip and golden bull in 2017

i'd say more people knew about btc in 2013 than eth in 2019

You really think eth can reach 5 digits like btc did?

God I hope so

I don't (unless btc hits 50k)

whats more likely is eth becoming 0.1+ btc ratio again

I don't think the total marketcap of ETH could be much more than a trillion.

Hmm...so for long term holding, would you say eth or btc will be a better investment?

So, no one has a rational idea on how the token transfer system will be?

This guy had an idea, but it doesn't really make sense. Everyone else is just circlejerking around ETH price.

There are rumors of factioning within the Ethereum developer community over Ethereum 2.0 and moving to Proof of Stake.

Buy both, seriously. It's impossible to say which is better but both are your best bets. I have recurring buys set up on both BTC and ETH.

>and vitalik buterin

AHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAH----breathes-----AHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAH

>Each tx needs some amount of ETH as well though.
If only there was some way to transfer ERC20 tokens without holding ETH...

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Straight up, eth wouldnt be able to keep up with the sheer volume of ethot payments that a zk-snarks FB coin would facilitate. It's be like crypto pussies. The network would fucking melt

There literally isn't, you are just spending too much time watching sub 80 IQ youtubers.

Not going to disclose my sources but you are a retard and those sentiments were said by one of the biggest names in the space.

>chainspace
wait a minute that cube