Once upon a time, the only way to know what other people thought was to watch TV or go to a public arena such as a town hall meeting or even a church. Even then, there was a pressure to conform to what the majority thought, which always seemed to be controlled by a select few individuals. Then the internet came and with it forums and chatrooms to where we could be a bit more free to share our opinion as there really wasn't a crowd, not that everyone expressed their true opinion due to the level of faux anonymity.
Over the lifespan of the internet, we were introduced to Social Media. Today when we think of Social Media, we think of Facebook and Twitter, but they were not the first. Before those were Myspace and LinkedIn. Facebook is the top dog when it comes to Social Media and many speculate whether or not another platform could one day knock it off its horse and take over.
Facebook has revealed its intentions for a new ICO: Facecoin. These days it seems every company wants to have their own cryptocurrency just as every media company wants its own streaming service. These companies see others doing it and making a lot of money and think "If we do it, we can have so much money."
I will flat out say I don't trust Facebook, and recent news of their platform gives me less trust. Being in the trenches with other users, Facebook has lost a lot of trust with its userbase.
It's not my goal to bring the ugliness of politics to this platform, but sometimes I need to make mention of it.
When Facebook started, it was for the people to allow them to be themselves. In many ways the original spirit Facebook shares a lot with the spirit of decentalized cryptocurrency, as it wasn't their goal to silence people, but to allow people to speak their mind and either be liked or ignored. Unfortunately, that has changed over time in light of the political thunderdome that was the US Presidential election. It's fair to say that these problems existed well before 2016, but that is when things came to a head and has been getting worse from there.
Like many tech companies, Facebook seems to support (far) Leftist politics and are quick to suspend anyone who steps out of line with that, often banning for 24 hours the wrong opinion. This was nothing new, and didn't stop people from position their opinion. It also went so far as to ban groups, like those being Pro Trump, while letting groups that act against it's term of service that wanted to assassinate Trump continue to exist. They allow groups or people to stay on the platform even if their actions break their rules if their attack is against those the media considers to be bad. Talking about facebook is talking about politics.
Very recently, Facebook decided to block a number of controversial figures that the media claims to be the the alt-right (and one leftist). These individuals have been on the platform for a number of years, but recent pressure on the platform pushed them to take drastic action. Whether you like these individuals or not, Facebook has put politics above people. The once great platform that was for the people have now become about the right kind of people and unperson anyone else who doesn't fall in line. Recent pushing from Trump however may force Facebook's hand to be more focused on the people, but they've shown their cards... one way or another, they will get what they want.
There is a lot of discussion about whether it is in the right of Facebook to do this. Many state they are a private company and can make their own rules about how you use their service. Others argue that because it utilizes a public forum and is a US based company it must adhere to the First Amendment of the US Constitution. It's tricky in this case, but now Trump has taken notice of Facebook's actions, and many states are passing bills as a result of Facebooks actions. Such as Texas, which is trying to pass a law to make it legal for the state to sue Facebook if the tech company violates the first amendment.
So what does this have to do with Facecoin?
As my title says, I don't trust Facecoin, and more to the point, I don't trust Facebook. I've tried using Minds (it's how I discovered this website), but I just haven't quite gotten used to the platform. For the time being, I am stucking using Facebook, but I know that each day I use it, I risk getting suspended or banned. If I don't trust Facebook, how am I supposed to trust them with their own coin?
Rumors stand that this won't be decentralized cryptocurrency (even though they want you to think that) and they will have a level of control over it. And whose to say that if I did invest in them and made a post today that wasn't offensive when I posted it, but a year later it did become offensive, that not only Facebook remove me, but revoke my coin? What if I use my investment to help a group that Facebook later deems to be a terrorist because they don't support their leftist ideology?
Bitcoin was ideal in that (short of hackers) it's doesn't have a central authority that can regulate your money. It was made for the users. No one person or entity had control over it, which is why governments and banks fought (and continue to do so till this day) against it, as they couldn't get their greedy corrupt hands on it or its people.
Sadly, I'm more likely to trust the banking complex than I am with Facebook controlling my money, and the banking complex make a mockery of the world economy. Facebook has shown that they can be manipulate and corrupted, and there is no way they will have a decentralized platform, especially when they ban people who for most the part disagree with their Leftist overlords.
Understand that I'm not on the right. I see my self on the Left, but as the Left continues to further and further Left, these days it looks more like the center from where I'm standing. Most people I know tend to be closer to the middle as well, and dislike the extremes on either side. We believe in the principles of Free Speech and that the best disinfectant is sunlight, to let people speak their mind and let the court of public opinion decide someone is not worth listening to versus censorship by a governing body. As much as we use Facebook, many of us hate it. If there was a better option, we would use that. Instead, we are stuck with Facebook and Twitter, though more and more are migrating to Minds.
There will be people who will use this currency and maybe it will be successful. No one ever thought a single Bitcoin could be worth more than $1. Many people I speak with on Facebook are still skeptical of Bitcoin, so something like Bitcoin but not Bitcoin controlled by a controlling entity known to side with people who just accuse with no proof and just suspend and ban because someone said they should but not follow their own rules when it comes to those who should be ban... yeah, good luck Facebook. If you can't be fair in run your platform, that what's good for the goose is good for the gander, then why should I trust you?