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Author Topic: Could Facebook and other corporations hijack the blockchain movement?  (Read 163 times)
thecodebear
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May 15, 2018, 05:00:44 PM
 #21

I'm guessing that Facebook's coin will be for use in Facebook only. I don't think they are going to be launching a coin to compete with Bitcoin. It'll likely be an application specific coin, of which many already exist. People aren't going to be buying things off of facebook using FacebookCoin. I'm not even sure if such a coin would be traded on exchanges, so that they can set a stable price for it and just have it be for payments in Facebook.

In terms of being a competitor to Bitcoin, while yeah most people don't care about decentralization vs centralization, they do care about the security of their money. Do you really think anyone would trust Facebook to be their money supply and bank. Not a chance.
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May 15, 2018, 05:54:22 PM
 #22

it is now facebook and the other big team will move also on blockchain and crypto.
every link I post and share about crypto and blockchain or bitcoin is mostly considered spam.
which I am worried indeed if facebook also develops building blockchain and crypto then big media where else can support promotion about it
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May 16, 2018, 09:46:30 PM
 #23

I don't think this will effect bitcoin much. Though it totally depend on public sentiment but the true bitcoin lovers will never choose facebook over bitcoin. Besides bitcoin is the king of crypto and I really don’t think a new coin can replace it. So I will suggest all to just chill.
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May 16, 2018, 11:55:18 PM
 #24

Facebook has played cleverly regarding crypto currencies. At first they banned the ads of crypto currency from facebook so that people doesn't get involve to it. Later on they themselves invented a crypto coin bacause they know how popular they are among people. So, they utilize this popularity and made a Facebook coin. Now, people will choose whether that would go to bitcoin the most popular crytp currency or Facebook currency which is much secured than others. I must say well played Facebook!
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May 17, 2018, 03:02:03 AM
 #25

It seems that facebook does not want crypto to get into the platform, because they're afraid of being rivaled. But on the other hand, they are eager to adopt the blockchain system, because the system has many advantages.

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yojodojo21
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May 17, 2018, 03:09:17 AM
 #26


now almost all the social networks against bitcoin, but it seems to me that this is just a political conspiracy and possibly personal!

All of those are fraudulent news and you can not stop that because there really are people who try to drag down things that is useful.

Hijacking blockchains movement is not an easy way, they have to use quantum core computer to completely hijack the algorithms,codes that designs crypto, and it will be a lot of work, and that is really impossible, to those who want to try.

mustamin88
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May 17, 2018, 03:23:01 AM
 #27

Is it possible facebook and other companies hijack the blockchain movement.
I think it can happen. if the implementation of cryptocurrency by Facebook becomes a reality, it will encourage the use of digital currency massively in the wider community.
"With more than two billion active users each month, practically, Facebook can control the world community in adopting new things,"
how Facebook looks for loopholes in implementing decentralized peer to peer cryptocurrency transactions.
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May 17, 2018, 12:31:23 PM
 #28

Facebook has played cleverly regarding crypto currencies. At first they banned the ads of crypto currency from facebook so that people doesn't get involve to it. Later on they themselves invented a crypto coin bacause they know how popular they are among people. So, they utilize this popularity and made a Facebook coin. Now, people will choose whether that would go to bitcoin the most popular crytp currency or Facebook currency which is much secured than others. I must say well played Facebook!


I agree- brilliant maneuvering on their part! I suppose the general crypto market would without doubt grow if Facebook did say introduce a Facebook coin, it would just be a shame to see one of the big giants be the ones to make crypto mainstream- and take a lot of the rewards for it.
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May 17, 2018, 12:37:05 PM
 #29

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?

Well in order to take part in most alt projects you need capital... So the rich (banks, big corp etc...) can literally "hijack" this space whenever they want.

It actually is already happening for example look at bitcoin. Its mostly generated and hold by a few rich miners. Look at ripple, its #3 right now and it is a centralized project working with banks.

The only way to keep crypto "pure" and decentralized is if people adopt such solutions and the creating teams airdrop equally the tokens like in a way similar to universal basic income.
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May 17, 2018, 12:52:30 PM
 #30

From my perspective i think the news was fake .why they hijack the blockchain movement if they wants to do this they can’t because blockchain has their own security system for protecting this types of hijack.
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May 17, 2018, 01:00:16 PM
 #31

It is quite impossible. At least they cannot hijack bitcoin and also the block chain technology. I believe you're alluding to the news that Facebook will dispatch its new crypto yet don't give it a chance to trouble you its unified not decentralized. There is no doubt as far as I can say that numerous artless financial specialists will succumb to this and they'll lament. Facebook is as of now confronting erase Facebook voices by this they'll attack your funds to and it won't end well for any individual who contribute so don't worry much.
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May 17, 2018, 01:01:02 PM
 #32

Facebook wants to develop their own coin and they wants to be a competitor of bitcoin and they wants to invest their own system so if people wants to use that coin which facebook developing it’s up to them because if they are smart enough they won’t gonna invest money in there because bitcoin price is high and acceptable for all people and can use whole world so facebook never gonna compete with bitcoin because facebook is far away from bitcoin.
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May 17, 2018, 03:19:21 PM
 #33

no, not that easy my mate no matter it's facebook goolgle or who ever else, hijacking wont be that much easy at all. and day be day our secirity are getting strong as Thanos. they might creat some  FUD, they have that power, were we only can do is to teach the people with real knowlegde about cryptos.
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May 17, 2018, 03:41:40 PM
 #34

It also really matters what you mean when you say hijacking the movement, because as of right now all of the new coins and such have pretty much just been shit and trying to ride off of the love of all things relating to the blockchain movement. So if big companies were to get involved I do think that more people (regular everyday people who don't care about bitcoin yet) would want to get involved with these movements as they have the backing of people they trust.

So, no, I think that at least in the start they're going to help in them being more adopted. From there though, who knows.


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May 18, 2018, 04:59:46 AM
 #35

Yes, it's definitely a matter of concern. There is always a good and a bad side to everything. Though Facebook and other big organizations getting involved with cryptomarket is good for its growth and exposure , but then again there is a threat that it might get controlled by all these organizations.
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May 18, 2018, 05:44:45 AM
 #36

first of all you should not confuse usage of blockchain technology with a cryptocurrency such as bitcoin. they are two very different topics.

secondly anything that companies such as Facebook or banks, government,... create will be a centralized platform, a private ledger,... and it is not even similar to other decentralized projects based on the blockchain technology. as a result they will not be able to affect, hijack, kill, .... the decentralized projects at all.

but they will be able to gain popularity because they are centralized and will advertise the shit out of it. they have dedicated funds for advertising. and also they will sue anyone who dares call them "fraud" or spreads FUD about them...

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May 18, 2018, 07:36:31 AM
 #37

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?
This is a problem since facebook is the best materials of all crypto users worldwide and now the facebook is creating own crypto coins,so there can be a issue with all the crypto accounts connected to facebook.

I have a big sympathy on mark Zuckerberg that he will keep our accounts privacy but we cant take it that theres a posibility that this can be used against us or against crypto


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FiguerFixZ
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May 18, 2018, 08:08:53 AM
 #38

what about Twitter?
CleverOracle
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May 18, 2018, 08:18:22 AM
 #39

first of all you should not confuse usage of blockchain technology with a cryptocurrency such as bitcoin. they are two very different topics.

secondly anything that companies such as Facebook or banks, government,... create will be a centralized platform, a private ledger,... and it is not even similar to other decentralized projects based on the blockchain technology. as a result they will not be able to affect, hijack, kill, .... the decentralized projects at all.

but they will be able to gain popularity because they are centralized and will advertise the shit out of it. they have dedicated funds for advertising. and also they will sue anyone who dares call them "fraud" or spreads FUD about them...

Very well explained, the fact that large companies such facebook are using the blockchain technology means they notice a big potential about it so they try to copy and join the popularity of Bitcoin but in the end they are still centralized platform. so people who loves the decentralization will never migrate on their new platform because we don't want to be control by these centralized platform's.

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May 18, 2018, 08:43:07 AM
 #40

This is nothing to really worry about. The blockchain movement is something that everyone does not want to miss out on as they are aware of it's power and advantages. It has a standard and can only be modified for better usage to deliver productivity. So we shouldnt be afraid of this because change and improvement are constant.
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