Bitcoin Forum

A Threat to Bitcoin? Facebook Rolls Out P2P Payments on Messenger
https://www.cryptocoinsnews.com/threat-bitcoin-facebook-rolls-p2p-payments-messenger/

This is not a threat to Bitcoin at all, it's just a pathetic attempt made by the terrorist organization Federal Reserve to promote their scam USD.
The Facebook P2P payment system is the same as Apple Pay, they're just using a different name to promote their scam USD.

Not a threat at all. it is still a centralized business that is processing payments from one CC/debit card to another via the standard clearing houses in the US. It even says in the article that the payments take 1-3 business days to complete haha. I don't know about you but in this day in age waiting 3 days for money to arrive sounds prehistoric.

Also this won't be able to enable all the bitcoin 2.0 like projects that will be coming out in the next 1-2 years.

The key thing is they are building the payment processing system complying with existing rules and regulations.

and I agree with you 100%. Really seems like just another big-brother-watching-you thing

This doesn't seem like big news. Speaking of this, what ever happened to the hyped Apple pay? It just disappeared.

Yes, this is key point in this story.
Facebook P2P Payments is not A Threat to Bitcoin but it's obvious that FB choose to develop own payment system instead of choosing bitcoin.
Hope they will re consider this decision and later also accept BTC.

I don't see this as an threat.
It's just another forevertaking money transfer (notice the 48-72 hours confirmation), i just don't get why they don't addopt bitcoin it would be mutch mutch easier.
Also i don't see any real use for it at all, except maybe some kiddos setting up little drug deals and paying directly from chat? (lul)
If you see some amazing benefits pls let me know.

Snapchat has also integrated this.
https://www.yahoo.com/tech/how-to-send-money-on-snapchat-103138292194.html
 
It's definitely not a threat to bitcoin. Bitcoin won't be affected by this at All IMHO. However, if they were able to integrate bitcoin and fiat payments I can see bitcoin exploding very quickly as of addicted facebook users take a step into bitcoin.

Not really a threat at all , Samsung Pay / Apple Pay or any other service can't match the power of Bitcoins and the security !
maybe in the future they will accept bitcoin but for the moment I don't think that.

With Bitcoin accepted Apps being allowed back into the store, I have a feeling that Apple Pay may have Bitcoin integrated into Apple Pay. If Apple integrates bitcoin, I can see Samsung tagging along. ::)

It'll offer them lots of lovely extra data mining possibilities. It'll be interesting to see how many people take it up. Paypal gets the job done for most already. 

Same shit as always. The same ego fight of these morons just to not accept they've been deprecated and they must bow down to bitcoin and accept it. They always have to create "their own" thing even if its useless.

It's not a threat and it's not a scam, just another payment processor, the mobile payments market is getting bigger and it's not that surprising big giant tech companies like Facebook wanting to get a cut of this market.


why would they implement bitcoin at the beginning?

Too few users for them even to consider, credit and debit cards are the obvious choices, although they can implement bitcoin in the future, when/if it is relevant to their userbase.

I don't see this as a threat... Why would it be? P2P or not, we know that bitcoin is the real decentralised technology...  

Take a look at this (https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/413095/gs-15-3-fintech-futures.pdf), UK gov is trying to make their country a global center for digital currency trade and fintech in general. They know how big of a potential bitcoin and the blockchain has when it comes to financial technology development.

Could facebook's User to User payment processor achieve any of this? Probably not.

Relevant:

https://i.imgur.com/sslGPoW.png (https://i.imgur.com/sslGPoW.png) <- click

Not a threat. Bitcoin has and always will hold it's own.

Nice, love the bitcoin community, these guys are fast at creating these nice and clear looking pictures that put things into comparative. Excellent for noobs that may think this is "bitcoin by mark zuckerberg" so to speak.

Yup, this graph is definitely nice. I remember when snapchat announced its "payment" feature. Despite all the hype created by the media we never got to hear about it again after the announcement. People disliked it so much that they never promoted it again.

that is really great comparison between bitcoin and facebook payments, bitcoin has no threat from these kind old payment system,
bitcoin is most advanced globally accepted next generation currency.

Facebook is NO THREAT to bitcoin .. facebook p2p payments is actually a JOKE

Bitcoin is definitely better, but the layman doesn't really understand bitcoin and has not taken the step to. For them using facebook will obviously be more easier.

It's not a threat.

It's not instant enough to be threat. They're just middle man between money transfers between banks. It's quite useless.

Nice graphic. It just has a small misspelling. It is Rakuten and not Ratuken.

At the first glance, I was expecting you to be the one promoting this feature (from the title). Anyhow this is dumb in my opinion. This literally has almost no benefits. You still have to wait for the long transaction times from the banks.
I have plans to delete Facebook permanently soon, as it is really useless these days. Their applications are even heavy on the phones.

I don't see what problem Facebook thinks it's solving here. To me it looks like Facebook just sees companies like PayPal, Apple and to a lesser extent Google making a lot of money by piggybacking on top of the existing credit card, ACH and/or SWIFT systems and they want in. It's still a centralized solution, relying on technology we've all had indirect access to (through our banks and our credit/debit cards) for decades. When PayPal came along, they at least made the leap from having to go to the bank or a Western Union to wire money, to being able to just email money to someone. I don't see any similar leap with any of the solutions that have come along since PayPal with the possible exception of NFC payments with Google Wallet and Apple Pay.

A threat to Bitcoin? No, just someone else trying to capitalize on PayPal's business model. :)

They have something like 1.5 billion active users per month

Those people don't care that its centralized.

Agree its centralized completely different to bitcoin.

Just an unoriginal and lazy hack attempt at trying to steal Bitcoin's limelight.

They still using fiat to transfer money, so it's not a threat to bitcoin. They can't transfer money in
international.

Not threat at all. Facebook just follows the step of Apple and paypal! Let see how it will go! Facebook has a very big of user base and could attract many customers.

Will facebook payments allow for micropayments? What will be the minimum amount to send?

We already have bitcoin p2p payments in Facebook, through Changetip. :)

Of course, bitcoin option added to fund Facebook account would be great.

Changetip practically acts as a middleman so probably not P2P. At least not at the moment since ChangeTip CEO Wants to Bring Tipping Back to Blockchai (http://insidebitcoins.com/news/changetip-to-abandon-centralization-move-tipping-sidechain-or-payment-channels/30848).

The graphic says it all.

Funny how everyone and their dog wants to make a p2p payment system but they skip over the reasons that makes Btc so strong.

#FAIL

Its an already dead system.
Srysly, it takes at least 1 day to complete a transaction?
How much would we need to take this money on a bank account? 10 days?

Unlikely, if it works only on Facebook-owned properties. At most it would be used for "tips" between regular Facebook junkies and who would think of using Facebook when you have ChangeTip.

Well, while that's true it wouldn't be surprising to see this service receiving millions of users throughout the states. It's most likely going to be people that don't know any better.