The only thing that might have changed is the underlying technology of the platform and whatever effects that would have on user experience. Otherwise, Facebook could theoretically operate much the same way it does today with the added benefit to users that they could earn cryptocurrency from the content they post on the website.Allen Taylor is author of Cryptosocial: How Cryptocurrencies Are Changing Social Media & writes Cryptocracy on Substack.
Some are built on a standalone blockchain, like Steemit, while others are built on another blockchain such as Minds . The difference is significant. We’ll assume Facebook built its own blockchain. Validators shared 0.00075 Facebits for each block validated, and each block would contain data for several posts and comments.Based on these numbers, Facebook would have earned 25,000,000 Facebits daily in January 2021, or 775,000,000 Facebits for the entire month.
These tiny fragments of value add up over time. With 100 billion messages posted every day, users of our fantasy Facechain would earn a total of 300 million Facebits today alone while engaged Facechainers would earn 100 million Facebits. If you’re a typical Facebook user, you’d earn from both of those pools.
Let’s say he posts 50 times a day. Every day. . How much can he earn making fun of Mark Zuckerberg 50 times a day? While Facebit’s fictitious value would fluctuate from day to day, for the purpose of this case study, I’m going to assume that the values shown in Figure 6.2 are constant within the year noted.
In August 2008, Facebook had 100 million users. Bob continued his diligent publishing pace of 50 posts per day. At the end of the year, he had earned $47.085. His total Facebit income to date was $195.4575. If that still seems low, consider that Bob is making money doing something he’d already be doing. He’s not spending additional time on Facebook. He’s converting the time he’s already spent into a few extra dollars. I haven’t even talked about other income variables such as staking, how much he could have earned by liking, commenting, and sharing the posts of others, or acting as a block validator.
Suppose that when Bob joined Facebook he purchased 10,000 Facebits and staked them immediately. The result would have been an automatic increase in power and influence. Essentially, a shortcut. As Facebit’s value grew, so too would the value of Bob’s staked Facebit.
Allen_Taylor It's coming! Light Minner has a big launch on 3/31 at 8pm UTC-3. A special date that will mark the beginning of a major project on 3 continents. Come and join us! lightminner grupolight lightdefighters launch 🌐 Light Minner:
Allen_Taylor You can post on leofinance and hiveblocks to earn rewards and meet new internet friends.