Meta shares drop 20% on Q4 earnings miss, weak outlook

Re:Meta shares drop 20% on Q4 earnings miss, weak outlook by dahdum on Wednesday February 02, 2022 @08:05PM (#30186933)

I disagree, Libra had absolutely massive potential with Facebook, Instagram, and WhatsApp behind it. Stabilized by multiple fiat currencies it would hold value well, and it could power a global Venmo (via WhatsApp), capture a large portion of the entire remittance market, simplify e-commerce payments, and maybe even support micro transactions at scale. I’m sure I’m missing other large benefits.

The West is mostly so far behind on payment processing it’s a joke. Stripe charges 2.9% + $0.30 while WeChat Pay is 0.6% and Alipay .55%.

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Re:Meta shares drop 20% on Q4 earnings miss, weak outlook by spookthesunset on Wednesday February 02, 2022 @08:44PM (#30187282)

What the hell would be it’s point? Why would it need Satoshi’s Holy Blockchain? Nobody in the mainstream consumer space wants an irreversible cryptocurrency.

Why not just use a database?

FB picking up Libra is just another loop in the blockchain’s solution in search of a problem.

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Re:Meta shares drop 20% on Q4 earnings miss, weak outlook by aylmao on Wednesday February 02, 2022 @10:04PM (#30188002)

+1, though I imagine the motivation was probably skipping regulation related to handling international payments or something along that line. Riding the blockchain hype couldn't have hurt too (until it did, I guess).

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Re:Meta shares drop 20% on Q4 earnings miss, weak outlook by dahdum on Thursday February 03, 2022 @06:17AM (#30191079)

> Nobody in the mainstream consumer space wants an irreversible cryptocurrency.

Venmo and Zelle are both irreversible and mainstream but can't be used globally.

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