Risky business

[cjsmith]

I just read a little about GlobalCoin. Oh my god, y’all. They can’t properly handle and safeguard even one piece of user data and people are going to trust them with money? Honest to goodness I do try to be a decent human being, but this time my compassion is just gonna fail and I’m very much afraid I will merely laugh at the disasters.

Comments

[brooksmoses]

I had not heard of this thing, so I went looking for news stories expecting some sort of cryptocurrency from the name, and ... wow. Facebook, eh?

I'm going to start my laughing at the name, because this is clearly designed to look like a cryptocurrency on the surface (the "Coin" name, the fact that it defines its own units) and be basically Paypal underneath. If this stuff gets anywhere near a blockchain I will be surprised, and it's only cynicism that keeps me from saying "very very surprised".

[cjsmith]

Yeah, I am not surprised to see that setup. I'll be over here eating popcorn and shaking my head.

[hitchhiker]

I bet it will have PayPal's problems of randomly stealing people's money and then stonewalling them too

[cjsmith]

I remember interviewing at PayPal. It’s perhaps the one time in my life where I decided I wouldn’t take a job even if offered based on what I learned about the company while there.

[hitchhiker]

wow, hadn't heard of this either, and it looks like a major disaster in the making.