this is what i mean most of the people comment in this post think they will be rich and other shit, the biggest red flag if visa and paypal inside the project its not peer to peer coin, in peer to peer middle man like visa and paypal cannot be very simple fact even kids know this yet most of the people here some how dont understand this kind of tech and other important things
but it will never will be bitcoin and cannot be from tech prespective but this is why i help to the good ones here to save them from trap and false hopes.
but this coin will end like the idea of poke on facbook and other ideas mark was bring which was huge fail.
mark is great in copy past other apps we saw this million time with snapchat and dating and kik and other apps he try to copy them to compete and be creative and bring his own ideas he is far away fromm this, the same with his shit coin will be like the idea of poke which died very fast
So As I have expected, according to Mark Mahaney and Zachary Schwartzman the said stable coin is going to be used for payments,ecommerce and gaming inside facebooks system. Therefore it is more likely to run only on their system and there is actually nothing wrong about it.
The facebook management is a fun of Satohi's work and have influenced them to create the said coin. The management is looking on the far future where they are convinced that someday cryptocurrency will surely dominates the current FIAT system and being them who have adopted it earlier will surely benefits their company. As they already are a crypto friendly company
OT: I just find it funny how most of the users here thinking that they know alot of things already about the said certain creation of centralized coin. You don't need to invest to this. Unless you want to purchase or use their service so stop acting like it is the end or this will badly hurt the crypto economy
People are saying that it's the end because it's the mythos of a large company trying to dip their hands into cryptos. I personally don't think it'll have any effect, just like how all the various altcoins that have come to exist haven't really done anything against Bitcoin but have been beneficial in the growth of Bitcoin and the crypto economy in general. I'd almost say that the hype/FUD is similar to that of the "Ethereum flippening" that was popular in 2016(?). Lo and behold, Ethereum is still below Bitcoin and it isn't a concern. Both exist in relative harmony and complement each other with their own tech. I don't think that FBCoin will really exist as a major player in any way and will likely be more of an in-house gimmic for Facebook users.