Bitcoin Forum

• BCH down 3.7 percent
  
• Facebook’s Global coin will disrupt public chains like Bitcoin cash

Because of Facebook’s broad base and active users exceeding 2 billion, the Global coin is an existential threat to Bitcoin Cash. Currently, BCH is consolidating against the USD, down 3.7 percent.

Many many trader say Facebook's global coin is a threat for Bitcoin cash

What do you think?

I think it is going to be big, but not so big as BCH.

Its not a real decentralised crypto as far as i understand.
Thats why many like it(VISA,Paypal...)
Its not anonymous.
You cannot run a node. Its not free and opensource.
Your private data will be exploited by design.
You will have to connect your wallet with your identity.
Is the number of Facebookcoins limited? I doubt.
To me its a big fake, but still the masses will use it.



BCH fell against BTC like most other altcoins too.
I dont see any relation to this "coin".
Paypal or Skrill is also no competition for BCH.

Anyway, BCH has alot of competition from other real coins focussed on payments.
And the split between ABC and SV did not really create confidence...

This facebookcoin is  not value backed by hashing power, its backed by fiat and companies.
Real cryptocurrencies are independent of companies and nations(fiat).

I think it's more of a threat to decentralised coins like XRP. BTC is having a good run, so it's possible that some BCH holders are just selling to get into the BTC hype train again that's why BCH is down 3.7%. As far as Global Coin though, we will see what it could bring to the market, but I doubt it will have significant effect on BTC though.

I do not think that facebook coin will be a threat to any coin. Yes, there will be a big hype as facebook is a biggest social media but it will hard to know how will the facebook coin be of any use to the facebook users. I do not see any use case of facebook coin and therefore it may not be successful in the long term.

I do not like BCH, but it has increased in price

Bitcoin Cash (BCH): $432,40


No, even I do not like Bitcoin cash I do not see how facebook coin will be competing with BCH... BCH has its already established fanatic group


and you really think that these 2 billion users will use this facebook coin? probably a very small number will use this facebook coin


You traveled a lot in your post.

First thing,Why Facebook(global Coin) is compared to Bch shitcoin?I don't see any relevance for this kind of comparison or saying about threat or anything about these two.
FB coin is just an another centralized coin and it would be more appropriate if it would be tagged with other centralized coins as well but I don't think that
this would gain too much attention hence not all facebook users would able to use up this one.

Globalcoin is not even a cryptocurrency.

https://twitter.com/aantonop/status/1140953685809348608

Not open, borderless, or censorship-resistant and it will require users to pass KYC.

Honestly, Bitcoin Cash is trash for me and I also don't like it. With or w/out Facebook's Global Coin, Bitcoin Cash is already a threat.

Facebook's Global Coin to me is good innovation for cryptocurrency and it's really different on Bitcoin, so don't worry about it.
Let's all appreciate also the good sides of Facebook's Global Coin, not just the negative or bad sides of it.
Let’s stop the Libra FUD (https://www.theblockcrypto.com/2019/06/18/lets-stop-the-libra-fud/)

yeah, facebook only want to sell custumer KYC to get money and Globalcoin only lips marketing to get people passing KYC

I haven't follow this so called Facebook coin but from my initial understanding it could be just a stable coin? (please correct me, if I'm wrong). So how can it be threat not just to Bitcoin Cash but to any other coins in the market? I think the media is like portraying this Global Coin to be the one to crushed every other altcoin in the top 10, but I doubt it will have that capability. Of course it is back up by Mark and his company, but I'm sure his business objective here is to make more money and not to compete with anyone in the crypto ecosystem.

As if they needed to do additional KYC though... they already know much more about us than any hyper-intrusive KYC we might be required to pass  :P

I don't hold bitcoin cash but let's stop saying that this facebook coin is threat to this, threat to that coin. Let this adoption take place so that we can compare the actual situation when the time comes after its launch.

They just announced about Libra and the partners that are willing to cater the coin. These altcoins will remain altcoins, people are bought too much with this coin although it's good for the ecosystem of crypto.

Who cares about BCH anyway?only BTC matters and it has nothing to afraid of Facebook's new payment system even if it is going to be a huge success.

libra is stable coin or not ? i look a some news they plan to stay stable

People may not take Fb coin to great extent as the popularity of Fb has dropped significantly after their data leak of customers happened and this has upset people to believe the FB anymore . Thus this impact would also be seen in their coin as well.

Bitcoin cash is the one of the fork coin and most influenced coin by the Craig wright. I am not sure what Facebook's new coin here to discuss as thread to Bitcoin cash.
After the emergence of Bitcoin cash ethereum and xrp coins value does not seems increasing in the price chart. Once libro coin has been launched then we can discuss it after the growth and rise of Libra.

It do pertains on such data leak issue but still people nowadays cant really avoid on not to use up this platform that's why
its still popular as of this moment on where people do still make use of it in spite of such thing.The coin they are making
is just an another option but I don't see that anyone who do use up facebook would be aware on how things goes work.

I have no idea from where such conclusions come. If you see coinsdesk's chart, you may see some similarities of recent price movements on Bitcoin and Bitcoin Cash. So price of BCH has risen a little bit after your post. If we think like you, then facebook's global coin isn't a threat to bitcoin cash because it's 1% up. But no, it's earlier to say Libra is a threat for any coin or any coin is a threat for Libra. But personally I think it may be a threat for ripple, possibly for BCH because it's nothing unique and we know what kind of people stand behind it.

It's funny how some of you just assume what you don't even know. Just because Libra Coin was released recently and you woke up today to see that BCH is down by 3.7% and you now have to assume that it was the work of the Facebook libra coin? You all are just hyping sh*t and I'm not going to be surprised if this libra coin turns out to be nothing but another fiat, lol. I'm case you don't know, from ETH, XRP, LTC, EOS down, all had a decrease in price. So are you going to tag that to Facebook coin as well?. Through out this year it has been that way for altcoins, they haven't been doing well, except Bitcoin.