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Cryptocurrency mentioned. Blockchain mentioned. I really should've bought a card for this buzzword bingo. Is this just PR or are they genuinely so clueless? If

by yason 8y ago

Cryptocurrency mentioned. Blockchain mentioned. I really should've bought a card for this buzzword bingo. Is this just PR or are they genuinely so clueless? If the former I wonder if they missed the shift this year where cryptocoins stopped being the coolest kid in the town anymore. If a centralized company wants to roll out electronic payments through its services it can just, you know, do that. They don't need blockchain or cryptocurrency to become, well, Facebank.

dana321 8y ago
I've not heard the term "buzzword bingo" before. Quote of the week.
- assblaster 8y ago
  Classic Dilbert I think.
  - assblaster 8y ago
    https://dilbert.com/strip/1994-02-22 https://dilbert.com/strip/1994-02-22
    - hnauz 8y ago
      Wow, 1994. These things are timeless.
      - rococode 8y ago
        Makes me think it'd be really interesting to see a list of buzzwords (and how they've changed) over the past couple decades.
        trading_wheels 8y ago
        "synergy" is pretty timeless...
gammateam 8y ago
The topic is stablecoins, with sources to websites that track that specific thing Why would it be buzzword bingo if its an informative article that stays in context 100% of the time, include for what you consider buzzwords. The actual criticism is that Stablecoins are just secured bearer bonds that anybody can issue inexpensively so you could see this happening for a long time.
Geee 8y ago
Heard of the hype cycle? https://en.wikipedia.org/wiki/Hype_cycle https://en.wikipedia.org/wiki/Hype_cycle They're not as clueless as you are about cryptocurrencies. It's not going to be centralized.
- t0astbread 8y ago
  If WhatsApp is the only client, FB can still control it since WhatsApp is proprietary
  - Geee 8y ago
    It's not going to be the only client, but Facebook has the network effects working for them, so it would be pointless or more difficult to use another client. In addition, they'll build services on top of it that are tightly tied into their ecosystem.
- dang 8y ago
  Personal attacks will get you banned here. Please read https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and don't post like this to HN.
patrickaljord 8y ago
> If a centralized company wants to roll out electronic payments through its services it can just, you know, do that. Not it can't. There's a world outside of the US where whole businesses run on WhatsApp. There is no solution, simply none today that exists to allow anyone from any country to register and start making and receiving payments. Not Stripe, not Paypal, none. If Facebook can deliver something that can then be exchanged for real dollars, that could be huge. If a person in a small village in Peru can just start receiving money from another person in another country and that the only barrier of entry is having WhatsApp installed on your phone, this could get ridiculously successful overnight.
- jamespo 8y ago
  I presume the point was why do FB / WA need to use the blockchain?
  - bsaul 8y ago
    because you still want the currency to have value if facebook closes one day, or stop supporting the idea. Facebook would endorse the currency, but the currency ecosystem would have a life of its own. At least that’s my guess..
    - smileysteve 8y ago
      If bitcoin and eth don't have a stable value in 2018, how does WhatsAppCoin sans Facebook guarantee have to stay stable?
      - ralusek 8y ago
        I would imagine because actual commerce is built around it, rather than its valuation being mostly derived from speculative investment as a value hold.
    - solarkraft 8y ago
      Why would Facebook have any interest in this? Public trust? Is the public that smart?
arisAlexis 8y ago
you are suggesting that there is no value in blockchain and that cryptocurrency is not a good idea so Facebook and it's famous VP of Messenger and other Paypal execs were just trying to get into the hype. Or you can take another look and maybe the technology has something to offer. Don't mistake Facebook for an silly company.
giancarlostoro 8y ago
You could at least do Buzzword Bingo since it's Facebook: https://bullshitbingo.net/cards/buzzword/ https://bullshitbingo.net/cards/buzzword/
koonsolo 8y ago
> I wonder if they missed the shift this year where cryptocoins stopped being the coolest kid in the town anymore. From an investors standpoint, yes. From a technological and application standpoint, there is some cool new stuff happening.
baby 8y ago
How do you want to mention cryptocurrencies without mentioning blockchain?
- yason 8y ago
  There are algorithms and research of cryptographic cash that predate blockchains by decades.
  - baby 8y ago
    And none of them were demonstrated to work in practice.

by yason 8y ago

dana321 8y ago

I've not heard the term "buzzword bingo" before. Quote of the week.

assblaster 8y ago
Classic Dilbert I think.
- assblaster 8y ago
  https://dilbert.com/strip/1994-02-22 https://dilbert.com/strip/1994-02-22
  - hnauz 8y ago
    Wow, 1994. These things are timeless.
    - rococode 8y ago
      Makes me think it'd be really interesting to see a list of buzzwords (and how they've changed) over the past couple decades.
      - trading_wheels 8y ago
        "synergy" is pretty timeless...

gammateam 8y ago

The topic is stablecoins, with sources to websites that track that specific thing Why would it be buzzword bingo if its an informative article that stays in context 100% of the time, include for what you consider buzzwords. The actual criticism is that Stablecoins are just secured bearer bonds that anybody can issue inexpensively so you could see this happening for a long time.

Geee 8y ago

Heard of the hype cycle? https://en.wikipedia.org/wiki/Hype_cycle https://en.wikipedia.org/wiki/Hype_cycle They're not as clueless as you are about cryptocurrencies. It's not going to be centralized.

t0astbread 8y ago
If WhatsApp is the only client, FB can still control it since WhatsApp is proprietary
- Geee 8y ago
  It's not going to be the only client, but Facebook has the network effects working for them, so it would be pointless or more difficult to use another client. In addition, they'll build services on top of it that are tightly tied into their ecosystem.
dang 8y ago
Personal attacks will get you banned here. Please read https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and don't post like this to HN.

patrickaljord 8y ago

> If a centralized company wants to roll out electronic payments through its services it can just, you know, do that. Not it can't. There's a world outside of the US where whole businesses run on WhatsApp. There is no solution, simply none today that exists to allow anyone from any country to register and start making and receiving payments. Not Stripe, not Paypal, none. If Facebook can deliver something that can then be exchanged for real dollars, that could be huge. If a person in a small village in Peru can just start receiving money from another person in another country and that the only barrier of entry is having WhatsApp installed on your phone, this could get ridiculously successful overnight.

jamespo 8y ago
I presume the point was why do FB / WA need to use the blockchain?
- bsaul 8y ago
  because you still want the currency to have value if facebook closes one day, or stop supporting the idea. Facebook would endorse the currency, but the currency ecosystem would have a life of its own. At least that’s my guess..
  - smileysteve 8y ago
    If bitcoin and eth don't have a stable value in 2018, how does WhatsAppCoin sans Facebook guarantee have to stay stable?
    - ralusek 8y ago
      I would imagine because actual commerce is built around it, rather than its valuation being mostly derived from speculative investment as a value hold.
  - solarkraft 8y ago
    Why would Facebook have any interest in this? Public trust? Is the public that smart?

arisAlexis 8y ago

you are suggesting that there is no value in blockchain and that cryptocurrency is not a good idea so Facebook and it's famous VP of Messenger and other Paypal execs were just trying to get into the hype. Or you can take another look and maybe the technology has something to offer. Don't mistake Facebook for an silly company.

giancarlostoro 8y ago

You could at least do Buzzword Bingo since it's Facebook: https://bullshitbingo.net/cards/buzzword/ https://bullshitbingo.net/cards/buzzword/

koonsolo 8y ago

> I wonder if they missed the shift this year where cryptocoins stopped being the coolest kid in the town anymore. From an investors standpoint, yes. From a technological and application standpoint, there is some cool new stuff happening.

baby 8y ago

How do you want to mention cryptocurrencies without mentioning blockchain?

yason 8y ago
There are algorithms and research of cryptographic cash that predate blockchains by decades.
- baby 8y ago
  And none of them were demonstrated to work in practice.