Crypto Currency

9 Questions for Facebook After Zuckerberg’s Privacy Manifesto

presented an entirely new philosophy. For 15 years, the stated goal of Facebook has been to make the world more open and connected; the unstated goal was constructing a targeted advertising system built on nearly infinite data. Yesterday, though, Zuckerberg pronounced that the company is reversing course. The social network of the future won’t be…


presented an entirely new philosophy. For 15 years, the stated goal of Facebook has been to make the world more open and connected; the unstated goal was constructing a targeted advertising system built on nearly infinite data. Yesterday, though, Zuckerberg pronounced that the company is reversing course. The social network of the future won’t be one where everyone connects openly together, as in a town square; it will be one where more connections happen one to one, as in a living room. Instead of data permanence, data will disappear.

Facebook isn’t putting the current platform—worth roughly half a trillion dollars—in the garbage disposal. As Zuckerberg made clear in a Wednesday afternoon interview with WIRED, Facebook as we know it now will still exist. But it will change. And there will also just be something new.

It’s unclear the extent to which Facebook will ultimately push users toward privacy, and in what exact ways. But Zuckerberg controls Facebook, and his manifesto will make its gears start to turn in different directions. As that begins, here are nine important questions the company will have to think through.

1. Facebook knows how to make money in the town square. How does it make money in this new living room?

Private, encrypted messaging is hard to monetize. In our interview, Zuckerberg demurred when asked what the new business model will be after clamping down on the data firehose. The company would, he said, build the product first and figure out the financials later. Facebook does have nascent efforts in commerce and cryptocurrency, but there’s no question that figuring out revenue on the new platform will be a hard problem for Dave Wehner, Facebook’s chief financial officer. A former Facebook employee told me last night, “Mark is like a cartoon character who walks through a bunch of dangerous situations and always comes out on top. Dave is the guy running behind him catching the cat, stopping the ladder from tipping, deflecting the flying axe with a manhole cover.”

2. What does this do to safety on the platform?

Facebook rightly faces endless criticism for all the data it collects. But there are benefits to data collection as well. It can help stop bullies, or even potential suicides. Once those communications become private, Facebook no longer has the same powers to track and moderate. The public—from the media, to nonprofits, to academics, to individuals, to the government—also uses the public nature of Facebook to track bad behavior. If Russian intelligence operatives had just used private encrypted messaging to manipulate Americans, would they have been caught? As Facebook knows from running WhatsApp, which is already end-to-end encrypted, policing abuses gets ever harder as messages get more hidden.

In our interview, Zuckerberg explained that this, not fears about the business model, is what keeps him up at night. “There is just a clear trade-o

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Crypto Currency

OKX Eyes Major Stake in South Korea’s Coinone Exchange

The post OKX Eyes Major Stake in South Korea’s Coinone Exchange appeared first on Coinpedia Fintech News Crypto exchange OKX is reportedly discussing a strategic investment in Coinone, South Korea’s third largest cryptocurrency exchange, according to Yonhap News. OKX and Korea Investment & Securities may each acquire roughly 20% stakes through a new share issuance

The post OKX Eyes Major Stake in South Korea’s Coinone Exchange appeared first on Coinpedia Fintech News
Crypto exchange OKX is reportedly discussing a strategic investment in Coinone, South Korea’s third largest cryptocurrency exchange, according to Yonhap News. OKX and Korea Investment & Securities may each acquire roughly 20% stakes through a new share issuance deal…
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Crypto Currency

XRP nears $1.50 as Senate crypto vote and whale buying fuel fresh optimism

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XRP surged to intraday highs near $1.55 on renewed optimism. Senate Banking Committee approved the Digital Asset Market Clarity Act in a 15-9 vote. XRP price could target a breakout as the market cheers the regulatory milestone. XRP price rose to near $1.55 on Friday as the cryptocurrency market cheered the Senate Banking Committee’s passage […]
The post XRP nears $1.50 as Senate crypto vote and whale buying fuel fresh optimism appeared first on CoinJournal…
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Crypto Currency

Bitcoin Whales Dump Holdings as Profit-Taking Signals Flash Warning Signs 

Bitcoin traded near $77,400 as Glassnode and CryptoQuant-linked data showed weak spot demand, whale distribution, and leveraged longs. The post Bitcoin Whales Dump Holdings as Profit-Taking Signals Flash Warning Signs  appeared first on Crypto News Australia…

Bitcoin traded near $77,400 as Glassnode and CryptoQuant-linked data showed weak spot demand, whale distribution, and leveraged longs.
The post Bitcoin Whales Dump Holdings as Profit-Taking Signals Flash Warning Signs  appeared first on Crypto News Australia…
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Crypto Currency

Why do Bitcoin traders care so much about the 200-day moving average?

Bitcoin price reached $82,400 on May 20 and ran into a line on a chart. Up 37% from its April lows, BTC stalled at the 200-day moving average, pulled back to as low as $76,000, and left the market wondering what the rejection showed about the market’s underlying structure…

Bitcoin price reached $82,400 on May 20 and ran into a line on a chart. Up 37% from its April lows, BTC stalled at the 200-day moving average, pulled back to as low as $76,000, and left the market wondering what the rejection showed about the market’s underlying structure…
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