xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
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Facebook or Meta just rug pulled their investors and killed their stablecoin project Diem. Apparently, they found out the technology is against their business model and they just have to get out as quickly as possible.
TL;DR
Facebook just rug pulled their investors on the crypto hype. Meta will be as centralized as they can to continue their data exploiting business.
Here is a 1 min summary of the article if you want to skip the reading.
Libra
Facebook enters into crypto has a long history. In early 2018 with rumors that Facebook would have their blockchain with stablecoin run on their Messenger. They even named the coin “Facebook Coin.”
Regulations
Until 2019, Mark Zuckerberg was concerned about the regulations. Many earlier investors may know that the project cannot be accomplished and left in late 2019. Nothing really happened on “Facebook Coin” and there were not any updates after that.
Diem
Rebranding happened in late 2020, just like Facebook itself. They tried to forget about the past Libra painful memory and want a new start with 1 to 1 US dollar-backed stablecoin.
Over Promised
Rumors suggested that WhatsApp may integrate cryptocurrency payments. Diem may soon be released to pave the way for Metaverse to happen soon. Everyone is cheerful about the promised future.
Diem Is Dead
Then suddenly Diem was sold. Mark Zuckerberg just rug pulled his own project and left many people behind to wonder what will happen on their Metaverse. Likely, Facebook’s Metaverse will not be a blockchain-like technology but a data profit-driven technology as they are usually good at.
In Conclusion
Facebook Coin is dead. Facebook’s Metaverse will not be the Metaverse people imaging. Their promises are always like a beginning when Facebook lured everyone into.
Facebook or Meta just rug pulled their investors and killed their stablecoin project Diem. Apparently, they found out the technology is against their business model and they just have to get out as quickly as possible.
TL;DR
Facebook just rug pulled their investors on the crypto hype. Meta will be as centralized as they can to continue their data exploiting business.
Here is a 1 min summary of the article if you want to skip the reading.
Libra
Facebook enters into crypto has a long history. In early 2018 with rumors that Facebook would have their blockchain with stablecoin run on their Messenger. They even named the coin “Facebook Coin.”
Regulations
Until 2019, Mark Zuckerberg was concerned about the regulations. Many earlier investors may know that the project cannot be accomplished and left in late 2019. Nothing really happened on “Facebook Coin” and there were not any updates after that.
Diem
Rebranding happened in late 2020, just like Facebook itself. They tried to forget about the past Libra painful memory and want a new start with 1 to 1 US dollar-backed stablecoin.
Over Promised
Rumors suggested that WhatsApp may integrate cryptocurrency payments. Diem may soon be released to pave the way for Metaverse to happen soon. Everyone is cheerful about the promised future.
Diem Is Dead
Then suddenly Diem was sold. Mark Zuckerberg just rug pulled his own project and left many people behind to wonder what will happen on their Metaverse. Likely, Facebook’s Metaverse will not be a blockchain-like technology but a data profit-driven technology as they are usually good at.
In Conclusion
Facebook Coin is dead. Facebook’s Metaverse will not be the Metaverse people imaging. Their promises are always like a beginning when Facebook lured everyone into.
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