Gee, a permissioned blockchain that will have it's price based on the value of multiple currencies in real-time

Gee, a permissioned blockchain that will have it's price based on the value of multiple currencies in real-time.

It's almost like they'd need a way to pull offchain information onto the smart contract to provide real-time currency information.

It's almost like it would be smart to place someone from their organization onto the board of advisors for such a service.

>Hmmmmmmm

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hackernoon.com/the-truth-about-facebooks-cryptocurrency-globalcoin-db860c918ceb
google.com/url?sa=t&source=web&rct=j&url=https://cointelegraph.com/news/project-libra-what-we-know-about-facebooks-forthcoming-cryptocurrency/amp&ved=2ahUKEwjJ-9Pj0OniAhVjiOAKHR7JBi0QFjAGegQIBhAB&usg=AOvVaw3edh4MjCm5wt8xD6bsx1zl&cf=1
google.com/url?sa=t&source=web&rct=j&url=https://www.wsj.com/amp/articles/facebooks-new-cryptocurrency-gets-big-backers-11560463312&ved=2ahUKEwjJ-9Pj0OniAhVjiOAKHR7JBi0QFjAJegQIAhAB&usg=AOvVaw3VftayzcCl-orm7AncuXTm&cf=1

is this actually going to be allowed to happen? if so it's going to be the one world currency, it's just SDRs for plebs

I saw this in another thread. New pasta

You're pasta

whats the advisers name i am a brainlet

Kevin Shang.

Post proof or larp you shilling turd sticks

Aahron Goldsteinlevybergovic

and it has KYC embedded

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hackernoon.com/the-truth-about-facebooks-cryptocurrency-globalcoin-db860c918ceb

google.com/url?sa=t&source=web&rct=j&url=https://cointelegraph.com/news/project-libra-what-we-know-about-facebooks-forthcoming-cryptocurrency/amp&ved=2ahUKEwjJ-9Pj0OniAhVjiOAKHR7JBi0QFjAGegQIBhAB&usg=AOvVaw3edh4MjCm5wt8xD6bsx1zl&cf=1

google.com/url?sa=t&source=web&rct=j&url=https://www.wsj.com/amp/articles/facebooks-new-cryptocurrency-gets-big-backers-11560463312&ved=2ahUKEwjJ-9Pj0OniAhVjiOAKHR7JBi0QFjAJegQIAhAB&usg=AOvVaw3VftayzcCl-orm7AncuXTm&cf=1

"Pegged to a basket of fiat currencies"

>It's almost like they'd need a way to pull offchain information onto the smart contract to provide real-time currency information.
they'll just let their kyced nodes do that.
it's already semi-centralized (like eos), so they don't have to spend millions for a bit more decentralization.

What "kyced nodes" are you aware of? They still need the middleware system in place to utilize info from those nodes. Those nodes have to operate on some form of infrastructure, and a certain stinky provider is the only game in town.

>What "kyced nodes" are you aware of? Facebook is in talks to create an independent foundation to oversee its cryptocurrency, The Information reports. It’s asking companies to pay $10 million to operate a node that can validate transactions made with its cryptocurrency in exchange for a say in governance of the token.
>They still need the middleware system in place to utilize info from those nodes. Those nodes have to operate on some form of infrastructure, and a certain stinky provider is the only game in town.
>he actually thinks that you need link to insert data into a blockchain
link decentralizes the process. if facebook trusts their hand-picked, contract-bound kyced nodes, they can just let them use their own json parser.

Facebook is literally charging 10mil a nose for this retard. They are carefully handpicking who can operate a node.

Why would they pay exorbitant amounts for an untested decentralized oracle system? If a node starts reporting misinformation the entire network will collapse. What node would want that?

that's literally what I wrote you fucking retard

Whoops meant to reply to someone else, my mistake sir

can we make money out of this? or its just a stable coin?

>an untested decentralized oracle system?
>untested
On the bright side, you don't have to worry about insider-trading accusations

Why would they use LINK instead of trusting their masternodes?

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I fucking hope FB doesnt mention chainlink in their whitepaper so the price dips back

I have nothing against LINK but some of you need to reign in your expectations.

Facebook has 100 employees working on this and it only took them 6 months to get globalcoin from initial concept to full launch with Uber, PayPal, and Visa on board (among many others) and nodes selling for $10M.

Now ask yourself honestly, why would a company with that much engineering talent, near unlimited resources, and connections with every big name in tech decide to integrate LINK?

I am not saying this to troll or inflame. Just don't let your judgment be clouded by excitement; it could cost you.

Can someone seriously explain to purpose of this Facebook coin to me, a retard?

It's a stablecoin so there's no reason to buy in hopes of it going up. The whole purpose of it is to send to people through Facebook and WhatsApp but you can already do that with venmo and, fuck, Facebook has a PayPal integration. So what the fuck is the purpose of the crypto token? A bridge asset? Are there really that many people sending money to foreign countries through Facebook?

(((Kevin Goldstein)))

Also, how do the other stable coin peg to FIAT without using an oracle through LINK?

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It’s an index fund but with a bunch of currencies it’s basically safest investment you can make

linklets are incredibly delusional lmfao

Also yes remittances is a massive market

Because all the participants guarantee to cash out 1:1 to a reserve . It’s backed , like a bank