The world's biggest social network, Facebook, announced yesterday that it will no longer allow for the advertisement of "financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency".
According to Rob Leathern, Product Management Director at Facebook, the goal of this policy is to prevent scammers from advertising shady ICOs and fishy Forex platforms to Facebook users. However, this might mean Steemit and other Steem-based platforms may have some serious problems turning to Facebook for user recruitment.
As the current social media manager for @utopian-io , this worries me somewhat. As a tech journalist - it fascinates me.
(Image Source: bonafide.news)
The REAL Reason Facebook is Banning Crypto Ads?
We can't know, but we can guess.
The Big Blue likes to show good intentions, but the true agenda of Mark Zuckerberg and his board of directors is usually what hides behind such bold moves. I've already seen some Steemians screaming it's because Facebook is scared of Steemit. With all due respect to Steemit, Facebook is hardly threatened by a platform with a crappy UX and no marketing department or business plan. No offense, Steemit INC.
Facebook thrives on ads, especially in competitive arenas where CPCs can reach sky-high sums. The cryptocurrency and ICO explosion in the past year created quite a bit competition in this field. In addition, no regulator came knocking on Facebook's door, asking to moderate ads for financial products or services.
Why is it that a bank can advertise on Facebook, but a cryptocurrency exchange cannot? And why is Facebook handing Google (and other competitors) such a huge market?
Is a Facebook Coin Coming?
Very possibly so.
With Telegram announcing its plan to launch an ICO, attracting some major VC investors, and Mark Zuckerberg openly writing in his New Year's resolution that he's interested in the potentials cryptocurrencies and decentralization, it's not unlikely that we'll see a Facebook cryptocurrency emerge sooner rather than later. Perhaps even as early as 2018. But there's no way for us to know, even after reading the Zuck's new year resolution regarding the subjects of decentralization and cryptocurrencies.
"With the rise of a small number of big tech companies — and governments using technology to watch their citizens — many people now believe technology only centralizes power rather than decentralizes it. There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services. This will be a serious year of self-improvement and I'm looking forward to learning from working to fix our issues together." - Mark Zuckerberg
(Image Source: CryptoTime.News)
So Why Ban It?
At this point you might be asking: "If Facebook is going to launch a cryptocurrency, why ban advertising related services now? Pure spite?"
Perhaps it's pure corporate evil, messing with the competition long before launching a product. Personally, I believe that it might be something else - an attempt to clear the playing field of scammers (and potential scammers) in order to increase the level of confidence and security users have in cryptocurrencies for when the Facebook coin hits the exchanges with the full power of the Big Blue whale behind it. The last thing Facebook would want is to address a user base burned by the ICO craze with their own currency.
But What About Steemit?
It's yet unclear how this will affect Steemit ads on Facebook. I don't currently have a campaign set up, but I have half a mind to run a short local campaign for Utopian just to see what happens. If we can no longer advertise Steemit on Facebook, we'll simply advertise elsewhere. Twitter, reddit, tumblr and Google are still our friends if Facebook doesn't want our money anymore.
My "fear" is that Facebook's decision to distance itself from cryptocurrency-related businesses and websites might cause it to go beyond banning the ads. Steemit website links on the platform already get embarrassingly low exposure on profiles and pages (like YouTube links), but what happens if Facebook bans Steemit, busy.org, dlink, dtube and utopian-io links altogether?
It would be easy for the company to claim the websites promote scammy content because a lot of the posts are about cryptocurrencies and trading, and ban it in their systems. I've seen it happen and turn into a lengthy and exhausting lawsuit (maybe @jonklinger can tell you about). But will they?
The Duality of Zuck
To me, from a tech journalist's perspective, Mark Zuckerberg's duality toward cryptocurrencies and decentralization is interesting. Because it is the centralization of power in the social media and online advertising market that gives The Zuck the ability to censor cryptocurrency related ads with the click of a button. Not only that, but the fact that Zuck's post revealed his interest in both less than a MONTH before dropping the bomb on all crypto-related business advertising on his platform? Just goes to show how little connection there is between what Facebook says and what Facebook does.
Do you think we'll see a Facebook Cryptocurrency in 2018? Will Facebook ban links to Steem frontends? And what about other social networks (and Google)? Will they follow suit?
Share your thoughts and conspiracies in the comments!
It means that Facebook will lose Billions in Ad dollars. Goodbye Facebook.
if we should take a look at some point their intentions are good, i have been deceived many times with fake ico campaigns and ads, but take a look at the brighter side, then what face book did is awful, i think they shut it down as they saw lots of users are now becoming more crypto enthusiasts and really don't have much time with facebook no more like they'd use to, take for example me, ever since i found steemit, i rarely chat or spent time there no more,
i was running an ads for a steem related site when i got that message from them, you just don't know how devastated i was,
you can't ban something that has its good side more than its bad side, if then God should have banned this world.
Well, shit. There's proof steem is blocked for advertising on Facebook.
I wonder how many people would even buy a coin, that can become worthless at any moment (it's value would exist solely because of integration with FB).
Basically it always seems that Zuck is trying to add a few more billions to the assets in his control, and a VERY centralized "crypto" currency would be a great way to do that.
All he has to do in order to get the currency into circulation is first give advertisers a discount when paying with said coin, then integrate ecommerce for pages and "buy now" buttons that are connected to a user's wallet. In said wallet, the user can store Facebook Coins AND tethered fiat, then use them to pay for products and services (like an ad-free account on Facebook). This virtual wallet can then be easily integrated into Facebook apps and games, and basically the whole Facebook ecosystem. Zuck already owns the planet. Now he's just showing off.
We're doomed :'(
Your optimism inspires me. <3
Steem needs to get to 100B marketcap, then we'll probably be Zuckerberg resistant
Yeah, he can buy us out long before that.
Hopefully he'll stay a long time in part 1 of the Gandhi Revolution Process- Ignoring Us
Big mouth always eats up the small mouths...where is social media good thoughts? Mr. FB owner?
As you can see, that could've easily been said about Steem for the past 2 years before platforms like DTube, DLive, Busy and Utopian developed. Not to mention that if steemit died the coin would drop it's price like crazy, possibly below 1 USD. You're delusional if you don't see the similarities of a potential Facebook Coin and Steem.
My take is that Facebook is banning crypto ads because it has taken so much heat over the past 12-18 months over "fake news" and "Russian bots" and all that stuff. The people at Facebook have literally been called to Washington in order to testify in front of Congress. (sort of like being called to the principal's office in high school) In the U.S., people are saying that Facebook is bad for democracy. With that kind of heat, I'm sure that Facebook's legal department is looking to minimize any future scandals or points of conflict with regulators and watchdogs. They certainly don't want to be blamed for a "market crash" or millions of people losing money if their cryptocurrency holdings take a dive in value.
So, while I certainly see your point about Facebook trying to co-opt rivals, I still think that Facebook is still too early in the process of crypto and blockchain to ban advertising for that reason. And I'm not sure if Steemit is even on Zuck's radar right now. I think he's thinking mostly in terms of "social commerce" and how to get people buying and selling things via Facebook and Facebook Messenger.
However, when the lightbulb does go on in Facebook HQ, i have no doubt that Zuck will act to co-opt Steemit (or any other perceived rivals) as quickly as he moved to co-opt Instagram, Snapchat and Whatsapp.
I have heard rumours on various sites of Facebook considering a Crypto Currency and they have always hated any competition so this would not surprise me as a move by them to try and keep facebook user sin the dark about crypto currencies till they can rroll out there own and try to fool users into thinking they are being innovative rather than the truth that they now realize they missed the ship on this one
tip!
I think Google is in the same boat. They're waiting for the water to be calmer and with a lot less sharks before they sail into the oceans on cryptocurrencies.
Yes I think your right
There getting prepared in the background ready to leap in when the time is right
Hi @techslut, I left this comment on a similar post by @uewlang, hope it helps show my opinion!
Many of the ones that I have seen advertised on Facebook would be considered spammy, and a small portion that I have seen have been blatant scams.
I read the guidelines, and facebook is banning advertising with a call to action that directly promotes investing to users - something that I am not entirely against.
Now, I know that this could have a terrible effect on the promotion of STEEM as a currency, but we can still advertise Steemit as a platform, if we are smart about our advertising it will not affect us. I work full time in ICO Consulting, onine course creations and now blogging, so I would be more than happy to help create advertising campaigns for Steemit that are compliant with these new rules, but also help get new users in to the platform. If you or anyone else is interested in doing a Steemit fundraiser for advertising campaign funds, let me know and we can get something together to further promote Steemit.
I am currently working on a blog series with a focus on new users to the platform - showing them how I made around $1,000 worth of Steem in 3 days with no initial investment. The aim of the series is to turn new users in to long term daily active users by providing them with the skills they neeed - i think it is important and I feel that there should be a page that focuses solely on brand new Steemians, showing them the ropes through online courses, and curating content to give them the boost that they need. Again, I would be happy to do this, so I am currently trying to get SP delegated to myself so that my vote is worth something to new users. This way, even if we can't advertise on platforms like Facebook, we will spread the word by word of mouth of new users - not the most effective strategy, but it would get in a lot of active users in my opinion.
Thanks again for the post, let me know if you would be interested in any of this work! I have a graphic designer on board already, so we have a good skill set to start with. Would reall appreciate your support on my latest series for beginners!Thanks for sharing this @uwelang. Personally, I think that Facebook actually did this to benefit their users. I was at a conference the other day, and was told that there are on average 5 new ICOs every single day.
I think @jerrybanfield runs advertising campaigns for steemit on Facebook, and I plan to run some for Utopian soon. We shall try and see.
Interesting! Well if promoting Steemit does become difficult on Facebook, I am happy to help. I am trying to transition to wroking full time on growing the Steemit community, so I am happy to help in any way that I can.
I am currently on the other side of that transition, looking to organize local meetups to familiarize open source developers in Israel with utopian, among others. I've written about steemit in the local press (my last fiat job) and I hope to get it even more exposure. I also speak personally with potential whalish investor types as I want to grow the Israeli community.
That's great to hear, glad that you are doing that! I'm currently working in ICO consulting, and online course creation. I'm looking to add Steemit as my third full time role. I would really appreciate your support on my latest series! I gave you a follow and will keep up to date with your content!
Back atcha. Look me up on the discords, I'll be happy to chat.
Will do!
it won't work, i have tried that.
Right!
Steemit is a platform, Steem the underlying currency / blockchain.
So Steemit is no Crypyo coin and should not be banned.
Be carefull though to attract people with the idea of quickly becoming rich: good content or ideas seldom come from greed...
Facebook is a dinosaur in the web technology world. It has added features over the years but has not fundamentally changed anything in the way it works. This is mostly because it's nearly impossible to do so without alienating or splitting your user base.
Facebook (the website)'s days are numbered. How soon will it die I can't tell, but I'd give it 2-4 years. The only reason facebook still exists is because it's nearly impossible to move your grandma to a new platform. But that's also it's Achilles's heel. Facebook doesn't want to lose your grandma, but more importantly than that, if facebook makes a fundamental change, and sacrifices your grandma, there will no longer be anything keeping you on the platform. People will move to a platform that pays them to interact.
Wait, but what if facebook pays you to interact? It doesn't matter, if facebook makes a system that pays you to interact it will lose grandma, and when it loses grandma, you'll be free to pick the best platform for your paid social interaction, and I promise you, that's not going to be facebook. Why? Because facebook doesn't have their userbase locked in an ecosystem like apple, or to a lesser extent, google does. They want to, oh they really really want to, but I reckon they're too late.
I agree that just like there are people pumping kodak and long island blocktea, there are people who hear anything about crypto or blockchain, and it's immediately "bitcoin is a bubble" and shut down. When Facebook was exclusive to people with college emails, facebook may have had a perfect demographic of people to pitch to, but now they are attempting to catch everyone and the narrative about crypto in the mainstream won't allow for a smooth transition.
Reading the title made me immediately think the same thing. Steemit can be adopted by an interested user, instead of one that is reluctant and doesn't want to help support the community to increase its value. Valuable creators from these platforms continue to vote with their feet by joining and urge their followers to research or educate them directly to continue to blockchain onboarding.
100% agree! Great observation!
Facebook's strength is in numbers!
Facebook is obviously making a crypto, and it will be one of the biggest ever..
Yeah that's what i think as well that he is clearing out all the shitcoins and ICO ads in order to distance itself from being associated and so that when they release their own own the market is ripe and will swallow it whole.
We have been using Facebook messenger as a primary means of communication and dropping links because unfortunately being in a Third World country we are not as financially free and so anything free like Facebook free data from our Telecoms is a primary way to communicate. We have established our own Discord server for @steemitfamilyph but most people are still in Facebook.
The links are often blocked now and I hardly think that Steemit will be a Facebook killer now because we don't have a lot of marketing done. Who knows in a couple of years especially if Facebook sleeps on its ass and don't innovate.
I manage the Israeli community in a Facebook group. We have a Discord, but a lot more people are comfortable with Facebook. So yeah.
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"The parting on the left is now a parting on the right" - The Who, Won't Get Fooled Again.
Forex deserves what it gets. The Israeli Hebrew media ignores it because we Israelis aren't the victims, as is their story.
Crypto is complex. There are wonderful things going on here, and most people don't understand - I barely do! :) When you remove centralization, you get some shady characters who don't represent the majority. But the media focuses on the edges, not the mainstream crypto players.
Best way to win? Keep playing it honest in this brave, new world.
It's kinda what I try to do!
As for Forex? It's gambling. And any attempt to present it as anything that is not gambling is a blatant lie.
First of all great read, informative and interesting stuff. I wouldn't come across this without Steemit! So thank you @techslut !
Now for some of my two-sense.... or is it cents? Cheers!
After reading both Zuckerberg's quote on top and yours following. It seems that maybe his further review and "study of the positive and negative aspects" of crypto has led FB to determine it's in their best initial interest to ban "all crypto-related business advertising on his platform," as you mention above.
As several replies above mention, I'd agree that initially it's probably better to distance themselves from cryptos due to there being so many out there and their credibility being questionable.
I also questioned why FB hasn't made a coin yet and/or whether they themselves were developing one. Without much thought, it would seem that it is a no-brainer for them. If not in the hopes of monetary gain -as they at the current moment are not lacking in that department- but for them to be ahead of the curve when blockchain becomes something more mainstream. Which it is almost inevitably is going to become, in my humble and still learning opinon.
Thank you jerrybanfieldroi for making a transfer to me for an upvote of 5.96% on this post!
funds growth projects for Steem like our top 25 posts on Steem!Half of your bid goes to @budgets which
The other half helps holders of Steem power earn about 60% APR on a delegation to me!
For help, will you please visit https://jerrybanfield.com/contact/ because I check my discord server daily?
To learn more about Steem, will you please use http://steem.guide/ because this URL forwards to my most recently updated complete Steem tutorial?
I'm not sure what everyone else is seeing, but even though you can't pay to advertise something related to cryptocurrencies my FB feed still shows cryptocurrency related groups as suggestions. So the plot thickens. It seems the move could be partially to keep users ON FB for their cryptocurrency news/discussions.
Same here. Still getting the group suggestions.
"how little connection there is between what Facebook says and what Facebook does." (Same might be said about many - if not all - political candidates. ...)
Political candidates we can (hope to) vote out of office. We can't vote Zuckerberg out of office.
good point. i was merely noting a similarity.
Very interesting post and you made a lot of good points. However, I feel that the main explanation is very simple: Facebook does not want to be accused of being complicit in ICO/crypto scams that would inevitably be advertised on their platform.
The last thing Facebook wants is a repeat of the last crisis, which has seen media and politicians criticizing Facebook for letting Russian entities pay to bombard Facebook with ads and fake stories during the US elections. That was a huge issue that won't be soon forgotten, and I see them trying to avoid a similar situation here.
Facebook seems to have learned its lesson, and realizes that the short-term profit from allowing ICOs to advertise on their platform will only hurt their goals and reputation in the long-run. (Would you want a scam operation advertising on your site -- worse yet, to your loyal readers?)
I don't mean to blindly defend Facebook, but I think Zuck is trying to do the right thing for both society and his shareholders.
I still get ads for MLMs, Homeopathy, scammy "self help" ebook courses and dropshipping scams. If Facebook gave a shit about it's reputation with its audience, they'd censor those first. Sure, the ICO craze and the Bitconnect kerfuffle and lawsuits being thrown around are not making for a happy market to be in, but Facebook is leaving a pile of money on the table because it doesn't want scammers defrauding its users? Come on... If at all, they're trying to look like they give a shit with this ban on crypto ads.
Good point... you may be right. Perception certainly counts more than reality!
That said, I would argue that scam ICOs and binary options pose a greater and more systemic risk than "smaller" scams and stuff that we'd just consider spammy.
I posted about this some hours ago as well and most commenters see it quite positive - I would say either an intelligent marketing move to prepare his own solution, no matter how this might look.
On the other hand FB says they are after scammers so there could be some ads still running in the crypto field. If really all the scamming guys there are wiped then this is good because it builds trust into crypto currency as a whole when people do not get their sales bullshit messages but the good ones survive.
Indeed!
There you have a point!
If their coin is not on a blockchain, it's dead in the water. It WILL be hacked, and as soon as that happens, people will leave in droves. Zuckerberg must know how risky that is.
If their coin is on a blockchain, but people don't get paid to post and curate, Steem still has a huge advantage.
If they do pay to post and curate, but post text is not stored on the blockchain, then they still have censorship, and Steem still has at least that advantage.
If their blockchain doesn't allow other apps to connect and monetize their content, Steem has the advantage.
If they do allow other apps, and they censor content, they are going to piss off the app developers and they will leave.
And as soon as they start censoring content with which there is money involved, people will leave.
The only way I can see for them to do this right and is to develop something similar to Steem.
If that happens, they will have an open source, censorship free platform where anyone can post about how Facebook just copied Steem. And by that time, the price of Steem should be high enough that we can entice a good number of users to switch over.
I think that........sorry i signed a NDA ....*walks back to desk *.
Awful choice by Facebook @techslut. If I'm into crypto or bitcoin, I most likely want to see ads about it. Who does Facebook think they are? I'm fairly certain they've also done this with medical marijuana, guns, and other sensitive categories. Apparently a Bitcoin company can't advertise on there, but they don't have an issue with Russia placing ads designed to stroke hatred & division within our country!
...or you may be right, perhaps Facebook is getting ready to launch their own coin...?
Facebook will always loose, because it will NEVER have the utter joy that is @mistress blessing it's web space. Some things money can not buy, they are shared by very special people 😘 #thealliance
<3
Steem it is best
Hi. This is interesting. I wonder how it will affect the APPICS ICO drive ? Do you have a view on APPICS? As the first SMT on Steem it will be watched by the markets. As a photographer myself I am also watching with interest. Its almost like the empire fights back. I have 50K followers on Instagram and I put up a post linked to APPICS account and it received half the likes as the previous post (2200 down from 4500) ; made me wonder if the algorithm was down-rating any posts linked to them.
It probably does have an algorithm like that. Categorising websites and giving different categories different exposure? Myeah, duh.
Who knows ! But its hard not to expect them to limit exposure to their competition.
Everyone knows. They categorize and control the exposure of different types of content.
Zucky has flinched and made a knee jerk reaction. This will only increase crypto notoriety that Zucky has decided to get up and slam a door many people weren't even aware was open. Zucky is becoming so corpo and 2010 very quick... his time in the spotlight is fading FAST / Peace and Steem the shit out of it !!
The ban on bitcoin by facebook will somewhere affect bitcoin investors. Many people find using Facebook more easy and feasible and at the same time they use to do their bitcoin investments and online businesses. So people doing bitcoin digging on fb will be affected to a great extent by this ban.
That's actually a GOOD thing. Less ICO spam in my Facebook feed (that I barely look at since Steemit).
Mark just want to annoy Winklevoss twins cuz they seized part of the facebook))
People still use Facebook?
Of course. Where else can I properly manage an Israeli community if not Facebook groups?
Google+?
That graveyard? No one has it on their mobile. Not even Android users.
All non IT intereseted people still use facebook. The groups in faccebook are still very popular since they address most exactly the interest of those people.
I really don't care anymore what Facebook does. Steem/it is the future.
Facebook is still the present. Living in the future is nice, but we still need to bring the users from there to here. And Facebook is not making it easy. Like, at all.
Battle tactics, their board of directors see the rise of other social media platforms that reward their users. What they are trying to do is to reduce the visibility of those new ground breaking platforms. Facebook is lagging behind, they only have the numbers, people who still use it daily don't really know what is going on elsewhere. What they are showing is fear of something better and are trying to maintain their stock price by keeping everyone else in their bubble of ignorance.
There are lots and lots of ways to attract a new audience, for example youtube, twitter, twitch tv, linked in, newsplatforms etc.
Of course. Which is what I wrote in the post. But Steemit is not a threat to Facebook. Not even a little.
It is true that fb is the biggest social media, but I think it is not relevant in crypto world. In my opinion the biggest advertising on crypto is done on bitcointalk, reddit, twitter, and why not steemit. At least who is really interested on crypto world and who want a technical opinion for cryptos must look at the above mentioned platforms. For me on fb are advertising mostly spam ICO-s that try to collect funds from peoples without any knowledge about cryptos and on that point of view the bann is not affecting the real crypto.
That's absolutely true, which again begs the question - why censor the whole category rather than whitelist known legitimate advertisers? There are still a lot of cryptocurrency related Facebook groups. I do not see them going anywhere anytime soon.
maybe because they are so big and most of the advertisers advertise using ad management tool, so a tool and who knows no human interactions. Given that, they didn't know if a advertiser is legitimate or not. I think is the same with fake news which in most of cases are promoted , so someone pay for them, and Facebook is not able to stop them.
Given that they are not able to be selective they ban every add that has the word: crypto, ICO, blockchain and so on.
Maybe I'm wrong but for me the biggest Facebook problem are the fake news and not the concurrency.
Whatever
I don't mind them, banning cryptocurrency ads on facebook may not cause setback to cryptocurrency business.
Zuck is nervous about steemit .
He will be loosing all tge people on facebook in 5years later i swear.
He will cry out loud for doing such mistakes.
All this FUD and news is making me question about hodl?
Bitcoin has broken various key resistance levels so might even drop to $6000. With all the news coming out from South Korea, China, Tether/Bitfinex and loads more FUD it is likely it may drop.
I am a big believer in BLOCKCHAIN so confident it will go up but not sure about short term price. This video helped me make up my mind but still not sure? Please advise guys as I might sell now and look to buy back at a cheaper price
He must have something up his sleeve.
Interesting article! I think the world is moving toward digital money, I'm sure everyone feels it. The big question is whether they will make decentralized currency or centralized currency like Ripple. If they completely block links from Steemit it will be disgusting behavior, at the moment doesn't seem to me it will happen. maybe they will fight it as they are fighting youtube or G +.
They are. Steemit links on my 3000+ friends profile get like 10 likes.
Odds are it'll be centralized. The Zuck loves to talk about innovation, but not so much apply it to Facebook products.
I also believe that very soon Facebook will create their own crypto. This is their plan, they really want to reduce their competitors. It's as if Ford advertised a BMW. (for example.)
Also, having their own currency will bring Facebook closer to world domination.
It actually reminds me of eCoin in the Mr Robot series
I can see a facebook coin coming, one you can only spend within facebook, making Zuck the giant whale
Well I think he is afraid of competition and facebook's coin will be out soon. He is just banning crypto ads to avoid steemit competition what so ever...
Is this true?
Whatever is not backed up by a link is my opinion only.
maybe that's part of business competition
I'm really tired with Facebook trying to manipulate people.
It's not the trying that bothers me as much as the success of said efforts.
im already use fb id.
I do not have much experience here but I was thinking of advertising on large crypto Youtube channels and try to get some future whales to buy Steem and join and follow me along with others. I think Facebook maybe going to have own ICO eventually and just getting rid of the competition. I personally like steemit.com better than Facebook and thats after only 3 days using the platform. Bit Connect scam didn't exactly help either. There was Bit Connect videos and spamming all over the place for the past year or so. I guess we will just have to wait and see, but Steemit has a bright future regardless of what Facebook does in my opinion.
Great article and comments ~ thanks to all.
Somehow, someway decentralisation will triumph and the elite will loose their vice like grip on all us minions.
In the meantime it will be a bun fight!
Gotta hold the faith folks.
:)
xox
Looks like Mark is afraid of something, or in other words, he is planning for something very big. We will hear it soon that Facebook has its own cryptocurrency because Facebook earns a lot in advertiseing. Now it is time to invest it.
So you're saying HODL Facebook shares? :)
They want to be very careful to think about doing something like this as we are only a small % among the majority of users on social media, not everyone shares our thoughts and opinons on being paid for content. Also if the other sites step in following suit it could put many people off and give them a bad reputation altogether. Saying that I hope that zuckerberg does not set up a similar platform and people decide to jump ship, a new horizon is approaching and its got crypto's name all over it.
I really don’t know why everybody on here (almost everybody) is hating on Facebook‼️ The whole world is addicted to Facebook without even earning a DIME🧐 So Why would it be a bad idea for Facebook to make their own coin⁉️ Who knows they can even close a partnership with a coin that already exist🤓 HINT 💡
I strongly believe Steemit will surpass facebook in the future. The platform is growing geometrically. I so much believe in the future of this platform. Infact, I made a post on why I feel people should invest in their Steem Power on this platform
Facebook had something steemit does not - a lot of marketers whose job it is to attract businesses with money to the platform. Users come by themselves. If the steem marketcap ever reaches the Facebook stock trading volume - then we'll talk.
Well Facebook saw all other people making money off Crypto so now they want it to be their turn to make money from it probably lol. Easy way to cut off competition.