- Is Facebook's new cryptocurrency safe?

[sirohige]

Can't say anything yet until it has been released but for now it is just a rumor that they will be releasing their own cryptocurrency.
And from what i understand to some news it's just like a payment system for their apps.

I heard rumors that Facebook will launch their own cryptocurrency but I think this can be little to know, maybe this can make transactions or payments on Facebook easier and faster because you might already know that there are many financial transactions on Facebook.

[john2231]

It might be safe but the problem I'm sure they will require our facebook which is made more than months or years and this is one of a big a problem because I don't have my real info and images publicly with crypto.

So, I'm fine using crypto without using facebook maybe I can buy some coins from fb to hold because I know the price will increase fast because there are many users use facebook.

[X-ray]

Did I miss something? I didn't see any Facebook coins or tokens yet? I did hear about but it was just a rumour there was no official announcement? Did they make any announcements?

When facebook was doing or adopting a new system and there must be an official announcement about that but when facebook didn't do that and then they will not create even a single announcement about that and remember facebook keeps its transparency for us. When you can't find something that officially announced by facebook and then it can considered as a rumour only and no more. facebook never created any announcement if that was created a new coin or something  like that.

[styca]

Sorry for any mistake in English, I'm not fluent   

Is Facebook's new cryptocurrency safe?

Recently the Facebook company announced its new proposal to create credit cards based on its new company cryptocurrency, I believe that initially this currency generates profit for its early investors, however, I do not see it as a reliable currency from the following points that I will address

I believe that the saying, "If you are not paying for the product, the product that is being sold is you." It fits well when the subject refers to the actions taken by Mark Zuckerberg, here in Brazil (which is where I live), the positions taken by the company Facebook and its subsidiaries are not very well seen in general here, in the elections of 2018 the same tried to censor parties and supporters with a more liberal and conservative vision, but gave full support to marketing advertisements for parties with communist bias / socialist, and to help the same recently run after recovering from the great scanda-what was the sale of data of its users to other companies

The question is: should I entrust my investments to this new cryptocurrency? My conclusion boils down to taking advantage of the launch to invest in other currencies as a small investment and then avoid using this new Facebook project because in my view if the security of our data was not safeguarded by the company imagine our bitcoin?

I think any Facebook crypto will be safe, but I totally agree that "If you are not paying for the product, the product that is being sold is you."
I would expect Facebook would track everything you do with their crypto, every purchase you make and everywhere you transfer it... with the aim being to harvest data on what you do, where you go, what you buy - in order to sell this valuable data on, in what some people call the behavioural futures market.

[livingfree]

It can be a reliable currency but just for facebook products. This will be look like their first online currency like the 'facebook credits'.

The question is: should I entrust my investments to this new cryptocurrency? My conclusion boils down to taking advantage of the launch to invest in other currencies as a small investment and then avoid using this new Facebook project because in my view if the security of our data was not safeguarded by the company imagine our bitcoin?

You are already in doubt of investing to their coin because if you are too confident and you are decided that this coin would bring something new to the crypto community, you won't ask. In the first day of its launch probably it will be on hype but after that, expect that it will be the same like any other project.

[btc78]

I am sure that you are one of the advertiser of this Facebook cryptocurrency since you known a lot aboit this even that it wasn't released yet

But personally? After what Facebook done with crypto community in past? I dont think they are reliable about investments

And i would rather stay in my folios thab putting my money to Zuckerberg

[samcrypto]

ya this wont be a cryptocurrency like were used to
it will be a private chain likely, and used for tipping, rewards, etc
VK, the russian facebook, has already had their own implemented for a while, "vkcoin"

A utility coin in short and can’t be used outside their platform. Well, in terms of the safety Facebook coin is new so there will be more questions about it and investors don’t have guarantee on this. A big company doesn’t mean a secured system, let’s not assume for now and just wait for them to introduce their own coin, it is still an interesting coin to watch for.

[honolulu888]

Facebook have  billion of user around the world so facebook coin will be famous instanly becasue they does not need to promoting its anymore. Its a huge step for crypto community because its will help mass adoption of blockchain technology to the masses