Fiat can still be printed and funneled into the system. It wouldn't matter if bitcoin was 'bought', nor could they 'buy' bitcoin out. and banks aren't going anywhere. What would be good is if Banks began adopting/transacting in Bitcoin. As long as you choose to hold, the more fiat that goes in, the more value your bitcoin gains (in relation to the fiat). The same goes for Steem (which has a limited inflation). What crypto does is negate artificial devaluation of each of the units of currencies. For those who have been here a while, I know that a large amount would love to be rewarded for their faithful accumulation of Steem. I also mention the benefits it would have by making Facebook more decentralized and would reward users for their contributions to Social Media would be one of the best parts of Facebook utilizing a public blockchain like Steem. My whole point is that if Facebook merges, we benefit on TWO fronts, Facebook becoming more decentralized AND Steem Holders benefiting. Win-win, especially if Facebook isn't going anywhere anyway.
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You seem not to understand the driving force of the altcoin and blockchain movements. The worst thing that could happen is the government, banks, and corporations commandeer the movement. Let them have their centralized ripple.
As far as facebook and Steem. The value of Steem will rise as long as it continues to erode facebooks base. The best thing that could happen is facebook get's myspaced by Steem. I think that's what most of us are hoping for.
First of all, YOU don't seem to understand the REAL driving force of the blockchain movement. Bitcoin was intended to be a fixed supply currency that was decentralized and public, so that people would not be subject to the manipulation that is carried out regularly by central banks.... it has achieved that to an extent and will continue to however it can (HOWEVER, you'd be blind to not see that competing ICOs and especially hardforks are acting in a similar manner to printing money, with the exception of Blockchains meant to be platforms rather than worldwide currencies).
And, regarding Steemit, Facebook likely WILL NOT get myspaced. The chances of that are lottery odds. They are a hugely established social media platform, the 3rd most visited website in the entire world, with a user base thousands of times greater than Steemit (literally). It would be cool if it happened, sure, but you're naive to think that it likely would; they're so deeply integrated in the Internet at this point (think about all of the facebook share buttons and different 'log in with facebook', etc. options on site) that it is so unlikely. And again, the alternative is them doing their own ICO/creating their own blockchain.... and the money will flow to them because it is a safe bet for investors. It will fly in price and will be a huge success. That is just the likely scenario. I'm not trying to sound harsh, but it seems to me you're thinking with your emotions here.
There is no such thing as too big to fail. Facebook is already feeling pressures, believe it or not, people are engaging much less with the platform, the ads, the information theft, fake news, trolls, privacy concerns, and the general declining internet ad economy all spell doom for the Facebook and company. The idea that Facebook is big is only true because people believe it to be. Once the perception changes, there’s no recovering. It’s logical fallacy to assume their size will prevent their decline.
I didn't say it would prevent it, I said it is lottery odds that Steemit will eradicate them. I'm just saying I think you'd lose the bet if you bet they'd be gone 10 years from now. It isn't a logical fallacy at all; It COULD fail, but the size, popularity, and following of a company are extremely logical metrics to look at when judging how DIFFICULT it would be for a company to fail. and with facebook, it would be VERY difficult. I'm not assuming anything. lol
I didn’t mean steem alone would bring Facebook down, but the movement of decentralized social network platforms like Steemit would. These platforms address all of the problems Facebook and co. have. It’s sensible to assume Facebook will know this and try to get in on it. With their power, it’s safe to assume they could possibly buy out these platforms like they have done in the past. But if these platforms do not sell out like you suggest, I doubt they will be able to move fast enough to compete.
Lastly, The quality of interactions on Facebook have tanked. The culture, the ads, and feed manipulation have degraded the platform. People haven’t left because there is currently no alternative. Once there is, I think it will turn into a Pinterest. The only people left on the platform would be bots, and marketers. I would say these make up a large chunk of the active users on Facebook already.
My personal abhorrence towards Facebook makes me think wishfully of its demise. But all we have is our own conviction. If everyone lived with conviction, Facebook would be gone tomorrow, as it is been proven to be a psychologically damaging platform. The ethos of blockchain is against centralized power and social controls. Facebook joining the party just doesn’t fit here. Unless you are looking at only from a financial business perspective, instead of a movement. There are many camps in the crypto world I guess.
Hey, I love the decentralization movement myself, and I LOVEEEEEE Steemit, but I don't think everyone has the same convictions and the Blockchain can't grow if other Political/Ideological Views aren't accepted in some way. Not everyone is libertarian or part of the crypto party. haha I HOPE Steemit preferably, but other social media that is decentralized (like nexus.social) does take it out. That'd be sweeeeet. I don't think it's likely, as I've said, but it would be great! :)
Yeah, you are right. There needs to be more room in the cryptosphere for various political leanings. Regarding Facebook, I think “take out” is relative. I think Facebook will shrink, not grow. I think it’s growth compared to Steem will look pitiful within 2-5 years. I also don’t know how it’s possibld for Facebook to buy the Steemit/Steem. If that happens I’m sure there will be a hardfork and a new platform will be created in opposition to the Facebook controlled version. It’s open source and community ran. I don’t think the top witnesses would approve of this buy out and would most likely leave and take a large chunk of the community with them. So I don’t think a Facebook buy out would be positive. If they do buy the intent would be to kill it. So I’m just generally against the whole idea presented here. Apologies if I came across a bit strong. I left social media 3 years ago, until I found Steem.
What I do think is likely is that Steemit will be a very substantial part of the social media market share, kind of like Twitter, Pinterest, Snapchat (kind of), and others. It will definitely be big. Huge, I think too.
I think steemit alone can overtake Facebook although the other platforms tied to steemit help make that even more likely. :) I think Facebook is very fortunate that steemit has a bandwidth shortage.
We can agree to disagree though haha