‘My 2 Bitcoins’
First it was Facebook, then it was Google and now, rumour has it that Twitter is soon to follow suit. Below I am going to be giving you "My 2 Bitcoins" on this matter.
This is nothing more than a blatant defensive approach to an industry and that's looking to disrupt the monopolistic stronghold over the social media world. The reason? This particular technology is starting to surpass them.
What's happening here is the oligarchs of social media like Zuckerberg, that have ran social media for the past 10 years now and ‘internet 2.0’, they've not given any money back to the people that supply their site with all the revenue.
Sites like Facebook and Google they use your information when you browse on their websites. Whether you like a page, you search for term on Google or however you go about using their site, all that information is stored and then used to advertise to you very directly targeted to your exact wants and needs. This is basically how they get their money and the value of their platforms comes from OUR information.
So the new cryptocurrency technology (blockchain and smart contracts), a decentralised internet, is a big threat guys to towards these centralised private organisations organizations.
There are a number of blockchain projects that are looking to allow individuals to manage and monetize the data they create with no intermediarys. Imagine these type of platforms coming up in the future using every persons data and paying money back to the people for using this data they have created instead of allowing 100% of the revenue to go back to today's monopolistic conglomerates!
They will tell you all the lies they want like “we see potential for consumer harm” but if you are like me, you will read right through it. This is a generic PR spin because they are worried these future internet platforms are going to steal market share from them and they would rather not have any of these companies displaying on their website as their first step in their plan to fighting it off.
I suppose what I am trying to get at is, I don’t believe what these organisations are spreading at the moment. Right now in my opinion is the best time to invest in these decentralised platforms and I personally will be investing every spare penny I have into the cryptocurrency market for the next couple of years
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