A New Bitcoin Rival Is Coming?

[CryptoBry]

There is now a name for the cryptocurrency-based payment system that Facebook is planning to debut in 2020 and it is called as GlobalCoin. Indeed, as the name suggest, it would be available globally (well maybe except China, Russia, Iran, North Korea and nations USA is not doing business with) starting with some hand-picked countries. Right now, the team established by Mark to tackle on this project has been communicating with some people involved with regulatory matters to thresh out things so they can start the trial maybe within this year.

With the Facebook empire at the helm and behind the GlobalCoin, people are getting excited and there are now many big investors lining up to be part of the funding circle hoping to snatch part of the estimated $1 billion the project is looking for. With Mark having the Midas touch, investors are thinking that this can be another opportunity of a lifetime. I am not sure though if Facebook will decide to also open the crowdfunding with small investors like in the trending IEOs we have today.

Wow! And of course, there will always be critics of this move by Facebook to join the cryptocurrency craze. There are objecting that what Facebook is getting into is not decentralized and hence can not even be called as genuine cryptocurrency akin to what we see in Bitcoin, Ethereum and the rest of the gang.

Now, considering all of these things and the very big potential of this Facebook project called as GlobalCoin, do you think that soon we can see Mark Zuckerberg not just the emperor of the social media but also the king of cryptocurrency? Or you think that this should be treated just like a normal (though it is very big) project which might also go wrong if the market will not be responding positively? What is your opinion with the foray of Mark into cryptocurrency and will Globalcoin one day be a rival to that of Bitcoin?

[Beerwizzard]

This FB coin will be nothing more than a centralized stablecoin. No matter what Zukerberg says about it.
Facebook have a long history of selling their users private data. Even when they implemented end-to-end encryption in WatsApp they are still keep saving backups of conversation on centralized cloud. FB usually bans everyone who does not support their liberal left ideology.
After that I would say that there is no connection between FB and true crypto market. Or maybe only a name.

[talkbitcoin]

you can't call something "bitcoin rival" and then keep contradicting what you said in almost every sentence!

... payment system that Facebook is planning to ...

so it is created by a company and is controlled by a company! similar to PayPal! so it is centralized and so it can not even be compared with bitcoin!

(well maybe except China, Russia, Iran, North Korea and nations USA is not doing business with)

in other words it is censorable and not global while bitcoin is censorship resistant and global!

... with regulatory matters ...

another sign of centralization...

... people are getting excited

who exactly are these "people"?

There are objecting that what Facebook is getting into is not decentralized and hence can not even be called as genuine cryptocurrency akin to what we see in Bitcoin, Ethereum and the rest of the gang.

cryptocurrency is a currency that is based on cryptography, it doesn't have to be decentralized. but when a cryptocurrency is centralized you can no longer compare it with bitcoin.
by the way Ethereum is also centralized not as much as a company coin like Facebook coin but still centralized.

Mark Zuckerberg not just the emperor of the social media but also the king of cryptocurrency?

they are entering a very hyped up market and with their advertising team and their company's popularity they will make a ton of money for sure but they are not entering the cryptocurrency world as we know it, they are just using the opportunity to make millions.

will Globalcoin one day be a rival to that of Bitcoin?

i repeat myself but centralized coins can never compete with bitcoin.

[BQ]

No coin can compete with bitcoin due to the fact that no coin can achieve the same distribution that bitcoin has.
then to even suggest that some stablecoin from Facebook would replace anything..

[sunsilk]

Thanks to him, he's a big personality that endorses cryptocurrency. So the rumors were wrong for naming it as a 'fbcoin' but it should be addressed as globalcoin. But in reality, many have tried and you just can't say because of the standing of facebook as one of the leading social media to become a rival of bitcoin.

It's no different with the early ICOs and labelled themselves as something big. Bitcoin will remain to be the top coin and people aren't willing to dive in into a newly created coin although it's supported with well known company.

[BQ]

Thanks to him, he's a big personality that endorses cryptocurrency. So the rumors were wrong for naming it as a 'fbcoin' but it should be addressed as globalcoin. But in reality, many have tried and you just can't say because of the standing of facebook as one of the leading social media to become a rival of bitcoin.

It's no different with the early ICOs and labelled themselves as something big. Bitcoin will remain to be the top coin and people aren't willing to dive in into a newly created coin although it's supported with well known company.

Yes, lets take our decentralized space and centralize it to some guy who's selling our information.

[traderethereum]

It's too soon for them to say that coin will be the new bitcoin rival because their technology is following with the blockchain technology which is already launched several years ago.
They can claim that they are the best coin in the cryptocurrency but still, they need to give proof to us so we can trust them.
And now cryptocurrency became very popular among people on the internet, and it makes Mark did a project that wants to compete with bitcoin or even the altcoin.
I am not sure because they are new coins which still searching for popularity from the people.

[aad140386]

I do not like this dude. I do not like his cooperation with the US intelligence agencies and the fact that Facebook merges personal data of users. Bitcoin is a completely different story. It’s like what people created for people, not for the sake of profit, but so that everyone could live better. With the Zuckerberg project, the story is different. This is a commercial project for making money. I don’t know how he will be successful, but I’m not going to participate in it for sure. If you choose such projects, I would prefer the Durov project. Because telegramm remains the only application that is not possible to crack and Durov is principled in the matter of storing customer data.

[rodel caling]

I think not totally rival mark zuckerberg grab the opportunity how to increase their funds riding of bitcoin popularity and fb coin can help to the people to encourage mass adoption because mark can he use their company to advertise their project possible the crypto currency can get benefits to hype the in the market.
FB coins is centralized crypto currency lining up altcoins came from the ICO bitcoin is stable coin being decentralized crypto currency.

[Lucius]

Now, considering all of these things and the very big potential of this Facebook project called as GlobalCoin, do you think that soon we can see Mark Zuckerberg not just the emperor of the social media but also the king of cryptocurrency? Or you think that this should be treated just like a normal (though it is very big) project which might also go wrong if the market will not be responding positively? What is your opinion with the foray of Mark into cryptocurrency and will Globalcoin one day be a rival to that of Bitcoin?

The fact is that people are always excited when it comes to potential profit, and this case is no exception. Facebook like man others sees an opportunity to make more money, and cryptocurrency is a easy way these days to get your own coin. At this point it's hard to say how will the users (FB) react on this coin, but the fact is that FB is have almost 2.4 billion users (data from 2019) and that the number of users is growing steadily. There is no doubt that this is an impressive database of potential users, and that FB will use them to succeed with this project.

I agree with most of points talkbitcoin is wrote, any centralized crypto coin can not be rival to bitcoin. But fact is that Zuckerberg is fairly strong global player, and that in his plans he is knocking on lot of doors including governor of Bank of England, US Treasury and Western Union. They are all interested in this new coin, rather than for bitcoin.

[Micerker]

That was discussed on this forum long ago. Bitcoin is known to be the king of Cryptocurrency, and no one uses it as alternative payment currency. No investor is interested in Bitcoin's Blockchain ecosystem. Facebook can create its platform but cannot replace Bitcoin. Will Facebook's platform attract investors and users if they develop stablecoin?

[cipherhut]

Finally, Facebook is in the mood to accept the existence of crypto and about to launch their own coin and it's going to be a milestone for the crypto industry and for Bitcoin lovers; as Facebook is one of the biggest community networks that connect the world which is going to impact the social platform.

[BossMacko]

Its a new coin yes, its market would be more tham Bitcoin yes, but FB coin is only for facebook. I bet you"ll be only able to use this coin inside FB that is how facebook will make money on it. It's target will only users of facebook. So it will not become a rival of Bitcoin because Bitcoin is for everything not only a specific platform.

[okala]

This is nothing to be compared to bitcoin how can it possibly happen that the Facebook coin will be another bitcoin simply because Facebook is the team behind it, and again on the regulatory status it does not happen like that government have laws and to get a regulatory framework for a crypto coin is not that easy so many coins have tried to achieve the full regulations but have not succeeded. Any way we will keep looking out for how the coin will perform in the market.

[MonsterV]

I know this news is quite big, and makes some crypto lovers happy. With AT & T supporting Bitcoin and BCH before, now the Facebook discourse will be realized.

And in my opinion, this time Facebook won't use crowdfunding through third parties like the IEO. In fact, they can still collect funding targets through ICO, or without ICO, many investors have been interested in funding this project.

On the other hand, I had guessed a few months ago when there was a thread discussing this Facebook coin. They certainly won't use a decentralized system for their coins. Because Facebook itself is a business company.

[BeManga]

There is now a name for the cryptocurrency-based payment system that Facebook is planning to debut in 2020 and it is called as GlobalCoin. Indeed, as the name suggest, it would be available globally (well maybe except China, Russia, Iran, North Korea and nations USA is not doing business with) starting with some hand-picked countries. Right now, the team established by Mark to tackle on this project has been communicating with some people involved with regulatory matters to thresh out things so they can start the trial maybe within this year.

With the Facebook empire at the helm and behind the GlobalCoin, people are getting excited and there are now many big investors lining up to be part of the funding circle hoping to snatch part of the estimated $1 billion the project is looking for. With Mark having the Midas touch, investors are thinking that this can be another opportunity of a lifetime. I am not sure though if Facebook will decide to also open the crowdfunding with small investors like in the trending IEOs we have today.

Wow! And of course, there will always be critics of this move by Facebook to join the cryptocurrency craze. There are objecting that what Facebook is getting into is not decentralized and hence can not even be called as genuine cryptocurrency akin to what we see in Bitcoin, Ethereum and the rest of the gang.

Now, considering all of these things and the very big potential of this Facebook project called as GlobalCoin, do you think that soon we can see Mark Zuckerberg not just the emperor of the social media but also the king of cryptocurrency? Or you think that this should be treated just like a normal (though it is very big) project which might also go wrong if the market will not be responding positively? What is your opinion with the foray of Mark into cryptocurrency and will Globalcoin one day be a rival to that of Bitcoin?

i dont think it will become the rival of bitcoin
i know its supported by facebook but the thing is bitcoin is supported by mulitple giant website
you can use bitcoin to pay in different website now almost all the exchange support it as main currency
there also a lot of physical store accepting bitcoin now
even the coin is back up by facebook it cannot become a rival if you can only use it in facebook or few website
but i think it will be good support for adoption for bitcoin but also for crypto

[Ranly123]

There is now a name for the cryptocurrency-based payment system that Facebook is planning to debut in 2020 and it is called as GlobalCoin. Indeed, as the name suggest, it would be available globally (well maybe except China, Russia, Iran, North Korea and nations USA is not doing business with) starting with some hand-picked countries. Right now, the team established by Mark to tackle on this project has been communicating with some people involved with regulatory matters to thresh out things so they can start the trial maybe within this year.

With the Facebook empire at the helm and behind the GlobalCoin, people are getting excited and there are now many big investors lining up to be part of the funding circle hoping to snatch part of the estimated $1 billion the project is looking for. With Mark having the Midas touch, investors are thinking that this can be another opportunity of a lifetime. I am not sure though if Facebook will decide to also open the crowdfunding with small investors like in the trending IEOs we have today.

Wow! And of course, there will always be critics of this move by Facebook to join the cryptocurrency craze. There are objecting that what Facebook is getting into is not decentralized and hence can not even be called as genuine cryptocurrency akin to what we see in Bitcoin, Ethereum and the rest of the gang.

Now, considering all of these things and the very big potential of this Facebook project called as GlobalCoin, do you think that soon we can see Mark Zuckerberg not just the emperor of the social media but also the king of cryptocurrency? Or you think that this should be treated just like a normal (though it is very big) project which might also go wrong if the market will not be responding positively? What is your opinion with the foray of Mark into cryptocurrency and will Globalcoin one day be a rival to that of Bitcoin?

I don't know if this Facebook coin can rival the popularity of Bitcoin in terms of cryptocurrency. There are many coins emerged to be rival of Bitcoin but none of them come any closer to what it has accomplished. But maybe if the technology that this fbcoin can lure people the it might give a good fight on bitcoins competition in the market.

[Leonardo7]

From your topic, Globlecoin will be a centralized stable coin controlled by Facebook company for payment purpose. And this will in no way rivalry the bitcoin, bitcoin technology will be superior to that of Facebook coin and of course bitcoin is controlled by no one and this will ensure maximum trust on its network. It's good Facebook will be having a stablecoin, this will enhance their business.

[samcrypto]

I see Facebook as a big rivals of many coins and yes even bitcoin, because I believe its not just about facebook its about many companies that is under facebook and that's why its called "Globalcoin".

Remember the many acquisitions of facebook? They can use it to make their market huge and available around the world.
Here's the list of many companies under facebook.
Facebook Acquisitions - I don't know if this thing is legit but I'm pretty sure a big company like Facebook have a lot of sister company.

Its a new coin yes, its market would be more tham Bitcoin yes, but FB coin is only for facebook. I bet you"ll be only able to use this coin inside FB that is how facebook will make money on it. It's target will only users of facebook. So it will not become a rival of Bitcoin because Bitcoin is for everything not only a specific platform.

I doubt it, they have a better plan and Facebook is not the only platform to use Globalcoin.

This kind of challenges is a healthy one in the market I still believe on bitcoin and I know it will remain on top maybe Facebook coin have a better chance to enter into top 5 coins, let's see this.

[Wexnident]

There is now a name for the cryptocurrency-based payment system that Facebook is planning to debut in 2020 and it is called as GlobalCoin. Indeed, as the name suggest, it would be available globally (well maybe except China, Russia, Iran, North Korea and nations USA is not doing business with) starting with some hand-picked countries. Right now, the team established by Mark to tackle on this project has been communicating with some people involved with regulatory matters to thresh out things so they can start the trial maybe within this year.

With the Facebook empire at the helm and behind the GlobalCoin, people are getting excited and there are now many big investors lining up to be part of the funding circle hoping to snatch part of the estimated $1 billion the project is looking for. With Mark having the Midas touch, investors are thinking that this can be another opportunity of a lifetime. I am not sure though if Facebook will decide to also open the crowdfunding with small investors like in the trending IEOs we have today.

Wow! And of course, there will always be critics of this move by Facebook to join the cryptocurrency craze. There are objecting that what Facebook is getting into is not decentralized and hence can not even be called as genuine cryptocurrency akin to what we see in Bitcoin, Ethereum and the rest of the gang.

Now, considering all of these things and the very big potential of this Facebook project called as GlobalCoin, do you think that soon we can see Mark Zuckerberg not just the emperor of the social media but also the king of cryptocurrency? Or you think that this should be treated just like a normal (though it is very big) project which might also go wrong if the market will not be responding positively? What is your opinion with the foray of Mark into cryptocurrency and will Globalcoin one day be a rival to that of Bitcoin?

If this is going to be a stable coin and just for facebook purposes I'm pretty sure it won't click that hard to become a bitcoin's rival in the future in the market. This has been tackled for about a year if this coin will really hit the market and I don't really think it would but somehow many will check it and probably invest to it since it is handled by Mark's team.