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Sirwin

Tech Coin: The Coin We May Not Want to Own

By xuanling11 | Crypto Learning | 19 Sep 2021


Facebook is about to launch its own coin and its own wallet. Do you want to have it and use it? It is not a cryptocurrency even they brand it to be and the coin is only to further penetrate your privacy deeper into your financial assets.

 

Facebook is a social media disaster 

The beginning of Facebook was not about privacy breaches but finding long-lost friends. The cute idea that made everyone jump on the platform and hopefully connect the long-lost friends and sometimes get laid. It is like a garden to invite people naked but people just self volunteer to become naked.

 

Cambridge Analytica Scandal 

Not until 2016 when the news broke out about how Facebook could influence the political voting system by spreading rumors and fake news. People started recognizing how free of use social media can do to harm society as a whole. No more getting laid and pick up your clothes, leave the party!

 

Facebook slapped your face

Since then, the reputation of Facebook was ranked and the platform became unpopular among new generations. Not until another trending app Instagram joined Facebook.

 

Instagram era

Instagram makes the peak of the social media influencer era. However, scammers also follow the trend. Your privacy is still breaching through an inflow of misleading information and modified beautified fake pictures. Your data increases into facial data collection and voice data collection.

 

Facebook Coin

Formerly known as Libra but it rebranded as Diem, a stablecoin that is running on permissioned blockchain. Facebook is issuing its own centralized token that is solely controlled by the company.

 

Why is Diem bad?

It is a financial data mining system that once you use, tracks your purchase from beginning to end and the more you use, the more data it will pipeline into the Facebook data reservoir.

 

Since users are not custodians of the token, Facebook can take away your money or forbid any transactions they believe were wrongful.

 

Your data will continue fitting into their machine so that they can learn from your habits so that they can continue selling you to advertisement companies. You are paying money to use their token while they can suck out your data that is free for them to analyze you and your network of friends.



Facebook knows you better than yourself 

Their machine learning system learns you every day when you are using their services including their tokens. It will learn more about you than yourself. It will quickly reach the inflection point that you will listen to their recommendations without recognizing yourself.

 

Every tech company are doing it

Google, Amazon, and many other companies are practicing this technology commonly every day.

 

Do you think you can escape?!

The more ways you supply your own data, the faster you will lose control to receive information that is outside of your belief. It will make your mind think narrower and trapped by your limited thinking.

 

Cryptocurrency maybe help to escape 

Permissionless blockchain may help to protect your privacy and improve social media platforms to become a better place for sharing any news. You may need to also learn how to verify news without turning yourself into a co-conspirator.

 

In conclusion 

We should say no to the Facebook coin as it has nothing to do with cryptocurrency and its purpose is to break our privacy and trust.


Photo by NeONBRAND on Unsplash
  

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Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.

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