Bitcoin Forum

Just imagine, to pay for ads on Facebook, you can choose any cryptocurrency instead of the US dollar, and using Google Play service, you can pay for purchases with Bitcoins. If earlier it could seem like something empyreal, today it is quite an expected decision. Will Google and Facebook change their crypto policies?

Is PayPal first, then Google and Facebook?
The cryptocurrency is rapidly acquiring new supporters, including large companies, funds, institutional and retail investors. It is obvious that the global economy is moving at full speed towards digitalization, and its transformation is only a matter of time. The leading players in the financial market have already jumped in, as evidenced by the multi-billion dollar investments in Bitcoin in the context of 2020.

http://i.piccy.info/i9/8d5f1077120098801487d8eed0812a9f/1605608495/136874/1399882/Snymok_ekrana_2020_11_17_v_12_23_09.png

Top corporations are unlikely to observe this process from the outside and will soon join the support of the cryptocurrency. Jason Janowitz, the founder of BlockWork Groups, is convinced of this. He believes that large companies such as Google and Facebook may significantly change their corporate policies towards crypto shortly.

The question of the need to introduce cryptocurrency into the ecosystem of large companies is hanging in the air. Of course, PayPal gave a powerful impetus to this process: the news of the launch of the support service for Bitcoin, Ethereum, Ethereum, Bitcoin Cash, and Litecoin for US citizens has already been dubbed by analysts as a turning point for the crypto industry as a whole. Given that the payments giant plans to scale this feature to all users, the outlook is more than optimistic.

Cryptocurrency use will become ordinary
Analysts are convinced that PayPal’s support for the cryptocurrency will be a powerful signal for massive crypto adoption by businesses and individuals. That could radically affect the value of cryptocurrency as a means of payment. Especially, the PayPal initiative should be appreciated by millennials who are increasingly interested in digital currencies.

A lot of the large companies have already become convinced that cryptocurrency is behind the future of the payment system. While government agencies are deciding how to settle the issue of regulating the freedom-loving crypto, corporations are developing strategies to integrate cryptocurrency into their ecosystems. An example is the same Facebook, which has been working on the launch of its own cryptocurrency Libra since 2018.

Google opens their gates for advertisements, and phishing applications on their PlayStore. Facebook makes their try with Libra project and Facebook Shops for e-commerce markets.

They want to try and join the party but how they join still be unknown. You can think about the future when Twitter, Facebook, Google launch their crypto currency projects, for usecases on their platforms and expand it to new products with future corporations with other cryptocurrency projects or crypto exchanges. That will be a blast off for crypto market and adoption.

Nobody knows whether or not Google and Facebook will join PayPal in the "cryptocurrency adoption crusade".
Paying with cryptocurrencies for Facebook or Google ads doesn't seem like a big deal to me.What's so special about this,where's the added value for the customer?
If I was an advertiser,who is buying Ads on those two platform,I wouldn't care at all about payment option different than debit/credit cards.I would prefer to HODL my Bitcoins,rather than spending them for ads.

Till the time Bitcoin's price remains volatile, it's very difficult for the users to use it as a currency. If I stop looking at the technical deficiencies of bitcoin and look only at the human psychology around it, people will definitely prefer to use fiat for advertising in facebook than to use cryptocurrency.

So it really doesn't matter if these big companies change their stance and adopt a crypto friendly policy, it's will be very difficult for them to get a person who would be interested in using bitcoin.

To answer your question- yes, Facebook and Google will eventually join the crypto bandwagon but no one knows when!

We're on mainstream, IMO.  Not goes to the mainstream.

Whether if Facebook and Google will follow the path of Paypal or not it doesn't matter as long as they don't go against cryptocurrency which I believe that they really don't because like Facebook they are trying to build the project Libra since 2018 as their own cryptocurrency.  Regarding the ads payment using crypto can somehow help to promote Bitcoin and the likes.  

And using crypto as payment in Facebook and Google may not be useful to some if we are don't have a business that needs social media as a mean of the advertisement but we just need to see it in another way that it can still help us for the global adoption of bitcoin and other cryptocurrencies.

Facebook wanted to create a coin of it's own. It's main motivation was to use an advertising coin for all it's platform. Making it easier for users as well as the facebook platform to make deals and evade taxes. They could have allowed buying and selling of their coin through other crypto. Google has a working payment gateway called google pay, they too could further transform it into blockchain based token but as they are already facing restrictions from a number of government around the world, google too won't be transforming soon. I don't think both of these platform would readily accept crypto anywhere in the near future as they are heavily advertisement based industry which are also a good tax generating platform.

"Will Facebook And Google Support Cryptocurrency Adoption?"

Maybe. Facebook have (or used to have??) Libra, but god knows what happens to that centralized crypto, last time i heard a bunch of big companies left the project like PayPal. But FB could comeback with yet another crypto-related project in the future, as long as it works as a money-making for the company, of course.

Google have infinite resources to create their own crypto, but i believe they are more than satisified with Google Pay for the time being.

Having a new payment gate for bitcoin or cryptocurrencies is somehow a great idea. However, will you use bitcoin to pay advertisement and product online. Transaction fees and confirmation times are issues which are not likely to be solved in a couple of days. Visa performs much better if you want to make a payment online

But if bitcoin is accepted by Facebook and Google, it will be a great news to the crypto world. The adoption can easily create a new innovation.

This question has opened up endless possibilities for the adoption of bitcoin on most common platform such as Google. You never know how google might have pay button on their play store, or may be just alongside the google searches and shopping sites.

Google has the power to control almost all of the internet (believe so) and thus they could just implement that API at lightening speed! Who knows Apply Pay comes the next considering they are second most popular brand in the world.  ;)

This cycle could go on and on until Global adoption occurs. So yeah its probable chance for sure.

Crypto hasn't gone "mainstream" yet.  Just because PayPal is now supporting bitcoin and some companies are investing in bitcoin, it doesn't mean everyone is now ready to adopt/accept crypto currencies.
Imagine paying for ads on facebook or using google play services with bitcoin and having to wait for an hour to get a confirmation? There are still more space for improvement and we are yet to achieve this "perfect" crypto currency that can be used as a regular currency.
Facebook is working (are they? i am not sure) on making their own crypto Libra. Google could do the same thing like paypal with their Google Pay service.

Facebook and Google have already join indirectly but the full scale adoption have not been done yet its only a matter of time before their both adopt the option of using cryptocurrency on they platform.

This will happen soon, because we are getting used to using Crypto as well as making money with Crypto. If the Covid-19 pandemic continues, it will be easier for people to be exposed to Bitcoin and to try these cross-continental online payment methods.
The crypto market is really at a very good time to prove its importance. Hopefully, the growth of Bitcoin this time will bring positive meaning to the whole economy and change the negative thinking of most people who still do not believe in Crypto.

I agree, I can say that cryptocurrency is on the mainstream if it is accepted worldwide without any restriction of using it. I am pertaining to the acceptance of countries, merchants, and big companies. I think being adopted by big company doesn't make bitcoin mainstream. If people don't use it, it wouldn't be considered mainstream. There are many variables that companies are considering that's why they can't fully adopt bitcoin but they would probably create their own as Facebook did with their libra project.

As for the Facebook and Libra we all know all yhis long-long process since 2018. About Google it is teally hard to predict nowadays wheather it will be the massive adoption or may he some list of adopted currencies, or will it be own project. But yet we did not hear some statements according to this situation. In case it will be adoption for lots of coins it may be a really great and pleasant surprise for all us. But I am not sure in it. May be it will happen, but I think it will look like some limited list of coins and projects.

The best thing that can happen is they adopt bitcoin and not try to create a clone that will be left behind like other shitcoins in the market. Libra in my opinion is a big flop because I haven't heard of anyone using it. The best move for these social media and tech giants is not to create their own but to integrate and welcome the existing system, there are flaws but they can be fixed.

Imagine Google adopt crypto, lets say Google Coin is a native coin from the Google company. And the first thing that Google will avoid the first is to sell it in public. Google might consider this because when the Google Coin price is played by a group of trader that have dump and pump goals, it will damage the existing Google ecosystem. The unstable coin price of course can damage the Google ecosystem itself which because of this, customers will be confused as the amount of money to be paid is always changing.

One of the things that can be done is with a stable coin that is supported by the best blockchain and can process transactions very quickly.

How could somebody use it when it did not even materialize? It wasn't a flop because it was nipped in the bud by the governments.

As a matter of fact, I would not even consider the idea as a flop because it actually threatened governments and central banks. It actually raised a strong alarm among them that they needed to urgently convene themselves and discuss it. It became an important agendum in the meetings of powerful world leaders and bankers. These people wouldn't have lifted a finger had they perceived it as a mere addition to the thousands of shitcoins.

We have to remember that Paypal was originally one of the large companies coming together to form the Libra Association. But it was compelled by a very powerful force to get out from there.

I guess if Libra won't push through, Facebook will eventually be accepting Bitcoin. It is just a matter of time before Google and others would also embrace Bitcoin.

In a censorshiped nation like China, Tencent, Alipay, Wechat Pay can do it and I don't think in the future the better nation in freedom like the US, there won't be digital currencies for social media companies, Twitter, Facebook on the their shops or other usecases.

https://www.coindesk.com/chinese-internet-giant-tencent-to-launch-digital-currency-research-team
https://www.ft.com/content/fec06de9-ac43-4ab8-81f3-577638bd3c16
Facebook accepts bitcoin on their shop or don't accept it, I don't care about it too much. What I am waiting for are the announcements and official launches of digital currencies are made by Facebook, Twitter and are used on their platforms. It will be big bangs for crypto market.

There is no added value if you look at it from a currency payment point of view but this could mean legitimacy to the eyes of the masses which could also lead to price pump and a level of adoption. We can take a look at what's happening since Paypal started adding BTC, ETH, and LTC as an example of that. We may not like the handling of their crypto services but it's hard to deny now that it's contributing to the price increase and to the coming of more institutional investors.

you can't compare PayPal with others though. what they did had nothing to do with "paying with bitcoin" but all about "trade bitcoin" which has been the current trend these days where everyone just sees bitcoin as something they invest in and trade to make fiat profit.
besides i don't see Facebook and Google as the big deals to accept bitcoin payments, a more important company to accept bitcoin would be Amazon since it involves a lot more people that buy/sell goods not just pay for ads and stuff like that.

What happens to their own Facebook cryptocurrency project? I heard this too years ago.  These government restrictions and bureaucracy hampers growth and innovations.  But, engaging these 2 big companies in crypt is huge jump on bitcoin itself and I am expecting them in  adding bitcoin and other cryptocurrency in their platform. As part of adoption, this should be pursued and hopefully this company sit up with government to iron out this discrepancies.

I think Google is still keeping everything secret about this decision, but for Facebook is already planning to make libra, but libra hasn't shown the shape of the process, maybe one day Google and Libra will really seriously support all cryptocurrencies and I also don't know when that will happen. So let's see how they will open up support for cryptocurrency later.

Probably it will become a positive impact for cryptocurrency as people will engage due to the fact that most of the people are using Google and Facebook app in their daily lives.

Adoption is hard to achieve if people are making bad reputation on bitcoin when they make scams using these apps.

Google and Facebook might help support cryptocurrency because that companies are knowledgeable about how profitable and effective this coins in the economy. And I know that this is the future, bitcoin is the answer when economic crisis comes and promoting cryptocurrencies is really effective in that times.

Libra could have already seen the light of day had the US and other European countries not blocked it. These freedom-loving countries were afraid that Libra would somehow destabilize the financial sector.

The project seemed too ambitious and grand to materialize and potentially too disruptive of the financial status quo that they see the need to stop it at all cost. They simply cannot give such potential power to an entity which does not belong to their inner circle.

Yes, it could have been a big bang to the market, too gigantic a big bang that it poses a serious threat to governments' financial and monetary systems. I wonder when such currency would come out.

Maybe one day Google and Facebook will be like Paypal willing to adopt cryptocurrency on their platform. But, still not as easy as what you think, it depends if many people will use crypto currency to pay for ads and other Google and Facebook services. If ever it will happen bitcoin will become more and more popular and useful that even government will be attracted to legalize it.

In the first place, Paypal the only comparison with Google Facebook and Paypal is that they're all big companies imo. Paypal is a big merchant itself, while Google and Facebook are on social media and advertisement kind of stuff. Facebook had the idea of developing their Libra, didn't really go well though. As for google, I don't think they've ever shown any moves so far, from what I've seen that is. Well, as long as they're not anti-crypto, I think we could expect that they'd either adopt their own crypto or acknowledge another crypto into their own platforms.

Let's not even mention how Paypal introduced bitcoin mainly as an investment, proof is that most of their guides is about investing properly and whatnot about crypto guides. They still use it as a currency, with them indicating that they could use it to buy stuff normally without any issues, but that's shown like as a minor feature instead of the main one.

It would be a domino effect once benefits are obvious to those who adopted it first.
But for sure if these two networks will adopt this technology, mass adoption will occur. It is just in the case of PayPal which is already quite revolutionary wherein many of us were surprised. Right now, this large network is still not in 100% progress regarding adoption of Bitcoin and things will be answered eventually whether other networks or businesses will do the same thing.

This is generally good for the market, advertising of cryptocurrencies to a wide range of people. Many companies that work in the industry accept cryptocurrency already as a means of payment, market giants will only accelerate the adoption trend.