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Author Topic: Could Facebook and other corporations hijack the blockchain movement?  (Read 167 times)
Babbleingbrook
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May 15, 2018, 10:20:25 AM
 #1

Now that Facebook and other huge players are (and have been) acting to get involved in the blockchain movement, I am concerned that this might lead to a steady 'hijacking' of much of the crypto space, as these huge actors could potentially influence the growth of their own private blockchain solutions over existing public blockchain projects. We know the power over the media these players have, and their ability to induce hype or FUD.

What do you guys think? Is this anything to be concerned about?
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ETHtotheMOON1
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May 15, 2018, 10:31:47 AM
 #2

Now that Facebook and other huge players are (and have been) acting to get involved in the blockchain movement, I am concerned that this might lead to a steady 'hijacking' of much of the crypto space, as these huge actors could potentially influence the growth of their own private blockchain solutions over existing public blockchain projects. We know the power over the media these players have, and their ability to induce hype or FUD.

What do you guys think? Is this anything to be concerned about?

there is not unless people will start supporting their blockchain projects too much at the expense of decentralization. I find it as a great news to seee the company like facebook joining the movement

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May 15, 2018, 10:32:49 AM
 #3

People can choose what they want to use. That is what is most important. If most people choose to use Facebookcoin over Bitcoin, then that's the way it is. It won't stop you from using Bitcoin, so there is nothing to be concerned about.
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May 15, 2018, 11:33:26 AM
 #4

Now that Facebook and other huge players are (and have been) acting to get involved in the blockchain movement, I am concerned that this might lead to a steady 'hijacking' of much of the crypto space, as these huge actors could potentially influence the growth of their own private blockchain solutions over existing public blockchain projects. We know the power over the media these players have, and their ability to induce hype or FUD.

What do you guys think? Is this anything to be concerned about?

there is not unless people will start supporting their blockchain projects too much at the expense of decentralization. I find it as a great news to seee the company like facebook joining the movement

That's what most concerns me- the VAST majority of people do not care one ounce about decentralisation, so when FB shows them their shiny new blockchain I think the hype and momentum there would be incredible.

I agree that more exposure is good for the blockchain movement overall, but it would be a shame to see some of the great decentralised current projects get displaced by corporate giants.
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May 15, 2018, 11:45:59 AM
 #5

I don't really think it's fair to blame them on banning of the crypto ads on their platform. They did this due to the fact that most of the ads relating to crypto on Facebook were pretty much scams, so this is actually good for Facebook and good for us in crypto (as it removes the fact that crypto is a scam)

I don't think they're going to release their own coin, it doesn't make sense for them

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jademacoy
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May 15, 2018, 11:51:06 AM
 #6

well it will be too much complicated and things will get worse in the near future with these hijackers that are really no doings other than stealing and making some fun on thenl internet. This is the new trends and only few could really go with the technicalities of the system.and those are the experts on the internet. It is really hard for tghe cryprocurrency to evolve with this kind of people that are only doing hijacks on the internet or website. Hopefully it wont happen and we.will just consider facebook as an advantage for cryptocurrency.
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May 15, 2018, 11:53:50 AM
 #7

What do you guys think? Is this anything to be concerned about?

Definately, but I guess we aren't just at the starting of this phenomen, like seen in 2017 the media and the social influencers have the power to indirectly regulate the btc market price.

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May 15, 2018, 11:54:22 AM
 #8

All it does is increase the understanding and use of Blockchain technologies and will lead to more and more being used and less fear and more understanding about the cryptocurrency technology that brought the tech.














 

 

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davis196
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May 15, 2018, 11:57:33 AM
 #9

Now that Facebook and other huge players are (and have been) acting to get involved in the blockchain movement, I am concerned that this might lead to a steady 'hijacking' of much of the crypto space, as these huge actors could potentially influence the growth of their own private blockchain solutions over existing public blockchain projects. We know the power over the media these players have, and their ability to induce hype or FUD.

What do you guys think? Is this anything to be concerned about?

The big whales will always eat the small fish.In this case,crypto is the small fish.But anyway,Facebook wants a more secure way to store all the sensitive data they have.They don`t want to create a FBcoin or anything that looks like a  cryptocurrency.Your concerns are pointless.
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May 15, 2018, 12:02:47 PM
 #10

That's what most concerns me- the VAST majority of people do not care one ounce about decentralisation, so when FB shows them their shiny new blockchain I think the hype and momentum there would be incredible.

Until someone gets their account frozen.  Then they might start caring.

The thing to remember is that companies are only interested in blockchain as a cost-saving exercise.  They don't care about the benefits to their users.  Once users realise they can get some real benefits by using a proper cryptocurrency, they won't look back.  Hype and momentum are temporary.  Substance is what counts in the long run.

solopay669
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May 15, 2018, 12:24:26 PM
 #11


now almost all the social networks against bitcoin, but it seems to me that this is just a political conspiracy and possibly personal!
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May 15, 2018, 12:29:13 PM
 #12

There is a secret revolution or if you like conspiracy that always bring that group of the rich that are sharks and hell bent on owning the stuff. At the moment, this doesn't look it, but when you consider how many corporations thought of Buying America, then you would know and agree that nothing was impossible.
the Rothschilds wanted to split America in two and make their Agentur or Representative rule, the other part, even though that didn't quite turn out right.

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May 15, 2018, 12:32:36 PM
 #13

I found it strange that Facebook first banned ads and it's now working on blockchain and possibly launching their own coin.
https://coincodex.com/article/1680/facecoin-facebook-is-exploring-launching-its-own-cryptocurrency/
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May 15, 2018, 12:45:55 PM
 #14

I found it strange that Facebook first banned ads and it's now working on blockchain and possibly launching their own coin.

Calling it a "coin" or a "cryptocurrency" is really giving it more credit than it deserves.  This isn't going to be something you can trade on exchanges.  There won't be any wallet software you can install to hold your own private keys and be in full control of your money.  Facebook and the banks will be in total control of everything.  This is just Facebook integrating banking payments into Messenger.  Fiat money with a bit of blockchain hidden away behind the scenes where no one can look at it.  It's not an actual cryptocurrency in the way we see them.

hatshepsut93
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May 15, 2018, 12:54:17 PM
 #15

This whole "blockchain movement" was kinda rotten from the start, Satoshi never claimed that he invented some "blockchain technology", blockchain was simply one of many parts of Bitcoin's protocol. But later, when Bitcoin became successful, companies and startups started praising blockchain as some genius invention, while simultaneously painting Bitcoin as outdated and flawed. A lot of these projects market themselves as decentralized and disruptive, but in reality they are pretty centralized, like for example Ripple. So, maybe instead of trying to fight for some blockchain movement, we should rephrase their mantra into these words: Bitcoin, not blockchain.

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May 15, 2018, 01:00:29 PM
 #16

I think you're referring to the news that facebook will be launching it's new crypto but don't let it bother you its centralised not decentralised. There is no doubt in my mind that many gullible investors will fall for this and they'll regret. Facebook is already facing delete facebook voices by this they'll invade your finances to and it won't end well for anyone who invest or nots so don't bother much.

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May 15, 2018, 01:47:21 PM
 #17

Now that Facebook and other huge players are (and have been) acting to get involved in the blockchain movement, I am concerned that this might lead to a steady 'hijacking' of much of the crypto space, as these huge actors could potentially influence the growth of their own private blockchain solutions over existing public blockchain projects. We know the power over the media these players have, and their ability to induce hype or FUD.

What do you guys think? Is this anything to be concerned about?
I do not think we should worry about things like that everybody has the right to choose what they will do including what you say.
I think if one chooses to use the blockchain movement it is the right thing. Because the blockchain itself has a transparent nature so no wonder if everyone is interested in the bokchain.
more and more people are interested and use the blockchain service in my opinion it's a good development for the country, crypto and also the blockchain itself.

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May 15, 2018, 03:49:04 PM
 #18

FB is not that powerful though.
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May 15, 2018, 04:39:21 PM
 #19

Now that Facebook and other huge players are (and have been) acting to get involved in the blockchain movement, I am concerned that this might lead to a steady 'hijacking' of much of the crypto space, as these huge actors could potentially influence the growth of their own private blockchain solutions over existing public blockchain projects. We know the power over the media these players have, and their ability to induce hype or FUD.

What do you guys think? Is this anything to be concerned about?

The main ide aebehind bitcoin is that it is decentralized. These guys are will have some sort of centralization and this many people within crypto world don't like. First and formost we don't have actual data that shows us that facebook is lunching their own coin, but these are rumors and rumors only unless it is shown otherwise. I truly believe they are looking for ways to implement blockchain into their system without any token/coin. If they do it then it will be some sort of centralzied piece.

They can try and with high userbase they might even get people to use it. But not me.
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May 15, 2018, 04:51:36 PM
 #20

First off facebook hacing crypto would be good for them there would be too many people and having a decentralised flow of that said crypto would cause them to loose more income than they should make. And bitcoin would still be higher in demand due to its volatice and rarity in nature.
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