Old Blockchain Vs new Blockchain ..... Bitcoin & Co Vs Amazon, Google, Facebook

[kronos123]

We all love the crypt and the blockchain because they make us feel free; after some centuries of economic and financial slavery there seems to have been a new light and hope for many people, oppressed by institutions and banks, and cut off from economic growth and personal happiness.
Since 2009, with the birth of the first crypt, BITCOIN, and in particular in the last 2-3 years (before the whole market was insignificant), there has been an exponential increase in wealth, popularity and interest, which has brought crypts at the hands of the early pioneers (formerly simple neerds, today very wealthy) to those of many other people, men and investors awake and / or crazy.

What has distinguished the crypto until today has been their decentralized system, the security of having the total and absolute ownership of their money, the speed to move them as, when and how much I want, at low costs and, in part, their anonymity.

All these characteristics are ignored and violated today, and in fact we see more and more coins born with centralized systems or for the most part in the hands of the team or foundation; we see the security of the portfolios, of the smart contracts and of the sites themselves continually violated (and with it our funds); networks and blockchains very often blocked, with often high transaction costs and slow transfers, especially between two exchanges.


Finally, in recent months we have witnessed the increasingly frequent rumors of large companies that, interested in the blockchain and the benefits it brings, want to develop and spread their blockchain and their currency.
Telegram, Facebook, Amazon and Google spread ads every week on the possibility of developing all this.

When all this is done (attention, I am not saying if, but when) do you think it will mark the end, the downsizing or the replacement of most of today's crypts and with them what they have represented so far? Freedom and anonymity!

When Amazon or eBay will really develop its coin and its blockchain (exploiting the technology of others, just because open source systems) by offering speed, security and anonymity in it, do you think we will still use today's crypts?
When Facebook or Telegramm or Google will also offer their own payment systems, storage, or new exchanges with new crypto, proprietary and centralized currency, do you think we will still use litecoin or ripple or stellar or monero?


Will the old monopolistic systems and oligarchs, through banks, the press and governments, manage to overwhelm and suppress this new spirit of economic freedom? They have plenty of money and resources.

We will have the final choice. Widen and spread knowledge, knowledge and economic and financial freedom through the freedom and decentralization of these new technologies and coins, or make us delude and corrupt by new promises and proposals that will impose us, through discounts on purchases, ease of use , reimbursements and coupons, disinformation and prohibitions.

In any case, we will see interesting times!
Thank you for your reading.

[kronos123]

It's been a little over a year since I made this post and on May 17, Facebook revealed to Reuters that it had registered with new company, Libra Networks, in Geneva on May 2, thus sanctioning entry and the company's first foray into the world of blockchain technology.
https://www.coindesk.com/facebook-registers-secretive-libra-cryptocurrency-firm-in-switzerland?amp

A few days later, on May 24th, Facebook officially announces to the whole world that it is planning to set up digital payments system by the first quarter of 2020.
https://www.bbc.com/news/business-48383460

From the first rumors it seems that Zuckerberg has had meetings and agreements with the governor of the Bank of England Mark Carney, but I am almost certain that the meetings and agreements do not stop "only" at Carney; there is also talk of other agreements with merchants and online sites.

From the first rumors it would seem that GLOBALCOIN of Facebook, this is the name chosen, wants to avoid the oscillations of traditional crypto, and to do this the value of the currency will be anchored to a basket of traditional consolidated currencies, such as the dollar , the yen, the euro.

A potential and immediate market of over 2 billion users (Facebook, Instagram, WhatsApp), combined perhaps with the equally huge Amazon market (with which it could establish an "easy and perfect" alliance), what will and will provoke in the market of the current cryptocurrencies?
Bitcoin and a few other Coins, through the upcoming Bakkt and Etf (only postponed), will probably remain and continue their way, growth and development, but what will happen with the other 10,000 coins / tokens?
As soon as everyone accepts and knows the digital currencies, and everyone passes Kyc / Aml, how will the regulator deal with the anonymous coins, and what will they do?

Time is running out and we will soon have the answers!
Meanwhile, what do you think?

[pakhitheboss]

First of all I would like to correct you by saying that there is only on Blockchain. There is nothing like old or new. The answer is NO nothing will get affected if these companies start their own Cryptocurrency. It is highly unlikely that they will allow their currency to be traded on an exchange.

[ghermghuda]

Well, this is it:
Yeah, the old oligarchs and monopolies can set up their own crypto and blockchain and yeah it can affect us in so many ways (as you said earlier, they have money and resources way more than us)...

But that's just one side you're considering, have you thought also about the good impact? For instance, a whole bunch of people have the assertion that anything crypto is bad, thanks to the media. But should in case the media themselves rewrite their messsges to them (that's when the oligarchs get in), that assertion will be averted abruptly and then this is it, they'll start considering what they heard before (particularly Bitcoin). You know one thing, these oligarchs won't get in for a mutual benefit sake. They always want what'll benefit them at the expense of users and so that'll open the eyes of the mainstream to weight two things: 1. Doing something you do everyday that earns you nothing or 2. Doing that same thing and earning!.... and then bam!! adoption sets in for the various DApps, which will further transcend to the Belief in Bitcoin and other major coins. And what'll even catalyst the adoption after the media proper writings will be that, the mainstream will know they lied to them- since Bitcoin and crypto isn't dead yet and won't ever!

That's how I see the scenario tho. Right now, our main problem is for the mainstream media to tell the mainstream the truth which if course they wouldn't until these "traditional oligarchs" get their skin in the game.

[kronos123]

First of all I would like to correct you by saying that there is only on Blockchain. There is nothing like old or new. The answer is NO nothing will get affected if these companies start their own Cryptocurrency. It is highly unlikely that they will allow their currency to be traded on an exchange.

You are right about the Blockchain speech: it is UNA, but my writing was more a metaphor, like saying blockchain 1 Vs blockchain 2.0
On the second part of what you say how can you be so sure? how can you be sure there will be no problems? that their coins will not be listed on any exchange? perhaps because the exchanges do not list toxic shit or centralized coins? I remind you that around a year ago around there was a certain coin named Bitconnect, listed on several exchanges and entered the Top20.

What I'd like is to have a broader discussion of how the market will react, and so will we all, when it will be / will be invaded by these new pseudo-coins, which will have an immense potential audience and almost unlimited marketing resources on their side?

[bitmover]

Bitcoin is not competing with Facebook or Google blockchains.

Bitcoin is meant to be decentralized, wild, without any control or central authority.  PoW allow bitcoin to be resilient against any attempt to control it.

On the other hand those blockchains are supposed to be controlled and used by those companies interests.

[MonsterV]

First of all I would like to correct you by saying that there is only on Blockchain. There is nothing like old or new. The answer is NO nothing will get affected if these companies start their own Cryptocurrency. It is highly unlikely that they will allow their currency to be traded on an exchange.

It's true, the blockchain has nothing new, all the same since it was created, it's just that its development is getting faster.

And I do not agree that if crypto is created by Facebook, Google, eBay, it will not affect other crypto, in my opinion this will be very influential in terms of fundamentals where people of the world will open wide insights about the blockchain which will then impact crypto.
And yes no one knows between the coins whether to enter the stock exchange or not, it could be yes and no, let's see later.

[Tipstar]

With considering it as such, what we should not forget is these different blockchain are going to serve different purposes and hence are less likely to interfere with each other.
Even if there is not Facebook coin, payment and transactions are happening in Facebook but it's not with Bitcoin.
Same are the case for other corporation. So, basically there is a huge market for everyone to exploit. The largest competition for bitcoin is just how to be able to reach more people without compromising it's quality.

[Haunebu]

Bitcoin is not competing with Facebook or Google blockchains.

It is actually. If the cryptocurrencies launched by Facebook or Google become really popular and achieve mainstream adoption, why on earth would anyone bother with something as volatile as Bitcoin?

Bitcoin is meant to be decentralized, wild, without any control or central authority.  PoW allow bitcoin to be resilient against any attempt to control it.

PoW does help in a big way, but the truth is that BTC is centralized to an extent just like any other altcoin due to the manipulation techniques employed by whales.

On the other hand those blockchains are supposed to be controlled and used by those companies interests.

Centralized blockchains are not necessarily a bad thing due to various reasons like enhanced security etc, but customers will have to sacrifice their identities to achieve this.

[Ucy]

All these characteristics are ignored and violated today, and in fact we see more and more coins born with centralized systems

Nice one.  It is refreshing to see people who share thesame blockchain belief showing up again like it was in the old.

The community is currently dominated by the ignorants, newbies and probably the wolves.
I wish crypto people could go through some short of indocrination courses on blockchain ethos. This will keep strengthening the community's way of life and help prevent the lost of its cherished values in the future.

[bitmover]

Bitcoin is not competing with Facebook or Google blockchains.

It is actually. If the cryptocurrencies launched by Facebook or Google become really popular and achieve mainstream adoption, why on earth would anyone bother with something as volatile as Bitcoin?

Bitcoin is meant to be decentralized, wild, without any control or central authority.  PoW allow bitcoin to be resilient against any attempt to control it.

PoW does help in a big way, but the truth is that BTC is centralized to an extent just like any other altcoin due to the manipulation techniques employed by whales.

On the other hand those blockchains are supposed to be controlled and used by those companies interests.

Centralized blockchains are not necessarily a bad thing due to various reasons like enhanced security etc, but customers will have to sacrifice their identities to achieve this.

If you just don't care about decentralization you could just use visa and USD
No need for BTC to your needs

Visa is faster and cheaper than BTC most of the time.

[kronos123]

Facebook Coin or GlobalCoin or AmazonCoin etc. they will never really be able to attack Bitcoin & C. because they will have a different system and "play" on different fields.

What is certain is that they will be successful, very successful, and will be increasingly widespread alongside "old traditional cryptocurrency".

Another certainty: there is no intention to replace and / or kill Bitcoin & C.; if there was this idea in the past, today this possibility no longer exists! Too many interests and too many big players have already taken the field, investing many billions of dollars.

When the first ETF is finally approved and / or when Bakkt starts, NOTHING can stop Bitcoin anymore!

And when GlobalCoin and AmazonCoin and AppleCoin prove their limits, Bitcoin will become even stronger and unstoppable.

WHAT YOU DON'T KILL YOU, FORTIFY YOU AND MAKE YOU STRONGER!

[Adriano2010]

Well i think if this coins Facebook coin, Amazon coin will be "stable" or not they will not affect another crypto and bitcoin will be still used more and maybe even people who will use Facebook coins or another will start using also bitcoin.

[xWolfx]

I agree 100% with you. We definitely might see pretty interesting times.

To be fair, Bitcoin is pretty unstable in it's current state to be used by really big companies in a really effective level. Which practically forces them to find another option but using the technology behind it.

Now, we need to stick here if that's what we want to do and support the currency until it grows and develop. Satoshi didn't work for the present at the time, he worked for the future. Kinda reminds me Tesla's way of doing things.

The best part of long term goals with technology and creating foundations for later improvements in the future is that the results will be always higher than just doing it for a current piece of hardware of software.

[davis196]

Will the old monopolistic systems and oligarchs, through banks, the press and governments, manage to overwhelm and suppress this new spirit of economic freedom? They have plenty of money and resources.

I don't think it's a "us vs. them" type of battle.
Many bitcoin users actually want big corporations and banks to adopt bitcoin,in order to boost the btc price.
Perhaps it's all about cooperation a not competition or a battle for survival.

[kryptqnick]

Bitcoin is not competing with Facebook or Google blockchains.

It is actually. If the cryptocurrencies launched by Facebook or Google become really popular and achieve mainstream adoption, why on earth would anyone bother with something as volatile as Bitcoin?

I think there still will be a reason to bother. Not at first, but after another privacy scandal with big companies like Facebook. More and more people will start to care about their data and who they give it to when they hear more about how it's used for various manipulations. Moreover, Bitcoin is not going anywhere, and there will always be people who care about financial freedom. Sure, Bitcoin probably won't reach mass adoption in this scenario, but it will still work and be there for people who care about it. But generally, I think that even though the companies introducing centralized coins are big, their coins will be a failure.

[Artemis3]

Bitcoin is not competing with Facebook or Google blockchains.

Bitcoin is meant to be decentralized, wild, without any control or central authority.  PoW allow bitcoin to be resilient against any attempt to control it.

On the other hand those blockchains are supposed to be controlled and used by those companies interests.

I wouldn't exactly call it wild, its more like anarchism, or anarcho-capitalism where a community that invests in it (with mining gear) get to control it collectively, but decentralized.

This community more or less made Bitcoin incorporate segwit, among other subtle changes during its lifetime.

A large Chinese entity wanted (and tried) to steer Bitcoin to another direction, but failed, and like the rest, resorted to make yet another altcoin.

Corporate coins are not too different to government coins. They are all "control" freaks, and with it comes centralization and weakening of their own blockchains. So this facebook thing only millionaries can run nodes, that means there will be few of them.

[muratsink]

there is no new or old blockchain model.  I think crypto systems are only centralized and decentralized.  BTC's popularity cannot be defeated by Facebook, Google, Amazon and others.  but each media can influence the BTC chart scheme.  I chose the decentralized system.  it gives me a big profit.  centralized is always stable.

[XinXan]

Facebook Coin or GlobalCoin or AmazonCoin etc. they will never really be able to attack Bitcoin & C. because they will have a different system and "play" on different fields.

What is certain is that they will be successful, very successful, and will be increasingly widespread alongside "old traditional cryptocurrency".

Another certainty: there is no intention to replace and / or kill Bitcoin & C.; if there was this idea in the past, today this possibility no longer exists! Too many interests and too many big players have already taken the field, investing many billions of dollars.

When the first ETF is finally approved and / or when Bakkt starts, NOTHING can stop Bitcoin anymore!

And when GlobalCoin and AmazonCoin and AppleCoin prove their limits, Bitcoin will become even stronger and unstoppable.

WHAT YOU DON'T KILL YOU, FORTIFY YOU AND MAKE YOU STRONGER!

Well, something can stop bitcoin, lack of use, another coin can take Bitcoin's place at any time, the only real reason bitcoin has survived this long and it's still number 1 it's because it was the first crypto and it's the most accepted crypto out there. You also have to buy bitcoin to buy other cryptos most of the time, ethereum is the only big competitor to bitcoin because it has a lot of pairs too but Bitcoin is still the one with the most pairings, specially fiat pairs.

[kronos123]

We mere mortals still know nothing about GlobalCoin and the Wp of Facebook, which will release it in 4 days (these are the latest news), but it seems that other big companies are already ready to enter the "global" project and invest $ 10 million .... it is obvious that they already know all the details of the offer that will be presented and $ 10 million are just pennies for them.

I'm talking about the giants of Visa, Mastercard, PayPal and Uber, which will probably use the future GlobalCoin to expand their services and offers, adapting to the new needs and demands of new markets and savers / investors.
https://cryptonomist.ch/en/2019/06/14/visa-mastercard-paypal-uber-facebook-cryptocurrency/
https://www.wsj.com/articles/facebooks-new-cryptocurrency-gets-big-backers-11560463312?mod=hp_lead_pos2

And it's just the beginning ....