Bitcoin Forum

2019 so far has shown signs of an uptrend for the crypto-space. This uptrend can easily be attributed to the growing adoption of blockchain technology globally. Although SEC is yet to pass any remarkable verdict on the state and use of cryptocurrency, world-renowned tech startups have already begun to show interest in blockchain technology and its numerous features which is capable of facelifting any industry.
Among the list of tech giants set to via into the crypto space the most important ones so far is Telegram and Facebook. Adoption has always been one of the headaches in the crypto space. Although the use of cryptocurrencies has grown remarkably, it's still yet to penetrate into a broader audience of users due to issues such as Poor transactional performance, absence of simplicity in usage, lack of trust in crypto projects with a development team with little or no achievements in the IT sector e.t.c. Telegram and Facebook delve into blockchain technology, and cryptocurrency space changes this completely.
Telegram who have grown to be a big contender to WhatsApp in instant messaging service provision boasts of over 200 million active users daily with over 15 billion messages. The crypto space of today boast of fewer than 15-25 million wallets but less than a million active users daily. Imagine if Telegram blockchain initiative(TON) by its soon to be publicized native currency "GRAM" manages to introduce just 50% of telegram audience to the crypto world, that would bring about more crypto users and definitely more enlightenment regarding crypto and blockchain technology. No wonder the GRAM ICO, which was only made available to accredited buyer raised an excess of 1.7 billion dollars. Its also rumored that a limited sale will be held on the liquid exchange on the 10th of July 2019 with the TON blockchain mainnet taking place late 2019. Asides from the vast audience the TON initiative will bring to the crypto eco-system, its also important to highlight the solid function GRAM will play in digital communication, file sharing, browsing transaction, and sublime transactional performance.
Facebook recent interest in cryptocurrency is one that cannot go unnoticed, although details regarding the Facebook coin is limited as at this publication, facebook blockchain initiative ( named LIBRA according to rumors) will present a stable currency which will be transferable across all facebook suit of social networking services namely Facebook, Instagram ,WhatsApp e..t.c. The facebook coin initiative will provide an alternative means of perpetuating digital transactions in contrast to fiat currency and at higher efficiency with lesser transaction cost. The trio of Facebook-owned social networks boast of an estimated value of  4 billion monthly active users. Imagine a 10th of this number diving into the cryptocurrency space via the facebook outlet, this numbers could turn the crypto- community into a more formidable force no government of the world can resist.

In conclusion, Facebook and telegram hold the key to long-awaited mass adoption of cryptocurrency, and with the talented minds behind both projects, I expect them both to do well to drive more users into the crypto space. The primary issue both projects will need to tackle in my opinion is to reduce the technical barrier most new crypto enthusiast face and lastly to further support renowned names in the crypto space on their social networks.
What is your opinion? Do you think the numerical advantage of Facebook and telegram to the crypto space will be of any good? Or do you see it as another heist which will fail like the majority of the ICO recorded in the crypto community?

In fact, the introduction of blockchain technology is already a great success for cryptocurrency since the more large companies introduce blockchain technology into their turnover, the more people will know what cryptocurrency is.

The numerical growth telegram and facebook iCOs can bring to the crypto space is surely an important factor that can influence mass adoption but the issues of technical barrier which u emphasized is one that both will really need to work on.. Noobs still find it hard acclamatizing to the Wallet and private keys of a thing. Also heighten security and scalability would be pivotal..

I have faith in Telegram. At least they have a cryptocurrency related product whereas, Facebook's Mark Zuckerberg is just a businessman. He betrayed his users by selling their information. How can a money oriented head contribute to crypto. Mark is using crypto's fame to benefit himself. I don't believe Facebook's coin is an adoption.

Sounds interesting, indeed both social media platforms have many users, but that factor is not enough and is still far from the reach of mass adoption. Because the role and support of the government is an important factor for achieving mass adoption.

I see nothing good in it. The more people learn about cryptocurrency through Facebook or YouTube, the less reward the bounty hunters have. Also the number of scammers will grow

I believe that the news about a behemoth like Facebook creating a cryptocuurency hitting the mass media news next week have the potential to spike new interest in our field.
The people that were not convinced that crypto matters in 2017 and 2018, may be finally in, after they see a major service like Facebook enters the game.

 ::) ::) how you thought there is nothing good if facebook and other social media launch their own crypto currency.? and it is really lol that you are thinking only bounty hunters ;D ;D. try to understand deeply you will find the advantage. thanks

But are you not afraid that these big companies have big influence and can overtake the whole market. I mean that Bitcoin is not the future currency but GlobalCoin will take this place.

Visa, PayPal and Uber are investing in the promotion of globalcoin, maybe in future we can use globalcoin through these guys, then it will be really cool.

Easily we can say that we are getting closer to crypto mass adoption day by day and with the launch of the fb and telegram coins who have billions of users the impact on crypto market will be explosive i expect to see new 10 to 20x bull runs in 2020 when all these giants launch their coins and start the business.

well I think 10x may be exaggerative because a lot still needs to be done before the crypto space matures to 3 trillion sized markets. I am rather optimistic because of the numbers both ICOs can bring to the crypto space.

we know facebook and telegram are big social media it would be interesting if they launched crypto itself it would have a good impact on everyone but it had to be approved by the government for mass adoption

Facebook didn't conduct an ICO and Telegrams crowdsale was through private funding rounds only, but regardless these well publicized ventures have increased the mainstream appeal of cryptocurrencies across the board not only for Bitcoin but also for any innovative alternatives that have a unique use case which should make them more attractive to institutional investors and potentially increase their market share in the future

 No, telegram is still doing their job very well and this application is being used by many people around the world and it is very necessary in the world of cryptocurrency.
And I don't think payment is too hard for anyone. It is even easier than transferring money in the bank. We just need to paste the wallet we need to send and click "send". everything is done in a sec.

About Facebook, I'm not sure that it will take a high mentos in cryptocurrency ratings. Since in fact it is a wolf currency dressed in the skin of a sheep. The coin has already lost all its advantages at the start: anonymity and decentralization.

With regards to telegrams, then the guys go much the other way, for them more important is anonymity, and this they proved in their messenger, but they lack the same decentralization. Perhaps we will see a high price for coin, but it will be far from Bitcoin.

I think adoption of cryptocurrency has already begun before Facebook announcing issuance of its digital coin. Cryptocurrency was being widely adopted even at a time when Facebook was a major vocal of it. However, we can say that Facebook's endorsement of cryptocurrency by planning to issue its own digital currency has a big impact on the overall market.

It will be lifted up since the interest will not focus to this two venue but to the entire industry, more people will gain knowledge about this market and
after getting enough will also invest their money and time making it much wider for every potential projects to get attentions and support.

even though we cant compare with telegram and Facebook ico but big brand companies are participating in Crypto currencies we can expect to touch huge market capitalization  once Facebook coin launched

@OP, you have a good information, but your write up looks too cumbersome, as there seems to be no space in between and without proper organization.
It is not yet certain if both (Facebook and Telegram) will be able to hold their ICO. Let's wait for what the outcome of the G20 meeting will be, because they too will be there are the decision taken there will determine their stand.

The most fascinating thing about having Telegram and Facebook joining the cryptocurrency market is because of trade profits but because of the wide exposure it will freely give cryptocurrency through its combined 2 billion plus ecosystem

Yes, exactly. Adoption is already happening even before the FB/Libra or telegram coin was born.
But they might really multiply mass adoption if all goes well.
But right now, we can only speculate on these things. We don't have concrete details on what's gonna happen with their adoption part.
But with the FB in the house, crypto becomes more interesting, I guess.

Facebook was banning cryptocurrency related advertisements back then.
But why now they start to running ICO and creating their own coin ?
I guess it will be just another hype in cryptocurrency sphere. Hope this will not make investors more suffering from the loss in the future.

I do believe that Facebook definitely can be the main catalyst for mass adoption of coins and tokens.
Not really sure about Telegram, though. Yes, the messenger is popular and used around, but not as much as the top dogs like whattsap (again, owned by Facebook).

Well its barely three weeks since i made this post and the crypto market has experienced massive uptrend in valuation with the release of the Facebook Libracoin whitepaper... I believe we have more to expect, sooner or later more reknowned world brands will dive into cryptocurrency and the government of the world will have no choice than to accept it...Adoption is definitely closer than we think..

You think the release of libra WP is related to the increase in bitcoin's price? If so, does that mean that people or certain businesses are buying bitcoin because they think it is legit now that facebook and backers are into crypto?

Why you confusing blockchain technology with cryptocurrency technology both are not related in terms of adoption, cryptocurrency uses blockchain for transaction but blockchain t technology can be used everywhere where we need transparency and secure place to store all our data which is good thing for the blockchain technology but not for the cryptocurrencies.

Although the rally of mass adoption of cryptocurrency has already begun with many countries backing it. Blockchain has added to the efforts of mass adoption of cryptocurrency.
Surely Facebook announcing to issue its own digital coin called Libra has to some extent an impact on the crypto market.

The mass adoption still on the progress, and it reaches many people from all countries. The present of Libra still is on the way to attract the investor to come to them. Telegram and Facebook can be a way to promote the project, and I think with those social media will help any project to reach more people. Facebook has a good way to promote their coin, and they already have a big number of people who already join with them as the member. But I am curious about Libra, and I want to see how good Libra to compete with the other coins in the market.

They bring attention to crypto market, nothing else. Facebook coin doesn´t have anything to do with crypto or blockchain, but it is a good marketing trick how to attract people to be a part of something innovative.

The fact that big firms are coming into ICOs does not in any way guarantee that crypto and ICOs will be accepted by masses. Until there is a proper regulations and government intervention most risk avers investors will still not venture.

i just suprised about telegram ICO ,
on some article says,they already raised up to 1,700,000,000
its more than LEO bitfinex recently.
what a huge money come to crypto.

Not sure about telegram but facebook will drastically change the crypto scenery. Adoption will increase massly, more people will learn about cryptocurrency, govt will also look into it and will make available in every country.

I can say that this is true that telegram and facebook is already jad a mass adoption becauae they already serve as a middle man between  crypto investor's to crypto transactions. So I can say that two social media application is already adopt the crypto system. Even crypto has not yet in a legalization period they already adopt the crypto industry because they know that they will have a lot of benefits in the near future.

the news will certainly have a good impact on cryptocurrency but also a separate threat for new altcoins who will develop the project because they will compete with the two big names