A New Bitcoin Rival Is Coming?

[redsun114]

Personally, I do not regard the new cryptocurrency from Facebook as something grandiose. I do not think that he will become a rival for Bitcoin. Most likely this coin will be used mainly within its social network and will not be in high demand outside its borders.

Well one thing is pretty clear that Facebook has gotten the money to make things happen and their coins will come I know. But there has been a debate about the FBCoin if it would be centralized or not. I am not really sure if it would be decentralized because we have had some great debate between the court in America and Facebook recently and due to that, Facebook might stay a bit curious but they will make big money due to highly anticipated demand.

[LUCKMCFLY]

It's not just because it was added after ETH on the site, not just because it has a good rank in coinmarketcap. The reason why people use it, especially me in yolo, is because it is cheap and with a low amount of money, you will get more coins if you turn it into a doge and you will have more chances to bet. Hello, I am new to the platform, I have many Doge, I would like to know if the chances of playing with only Doge is better or increases the chances of winning ?? Or is it better to pass it to bitcoin? And if you can go inside the direct platform from DOGE to Bitcoin.

[elitemobb]

It's hard to say because Facebook is initially a social network that is focused on communication and creating its own payment system. First of all, it’s as good as it’s but Bitcoin is still very far away as there are always many problems at the product development stage that need to be fixed. does not wait.

[dEjAvOU]

There will never be any coin that will rival bitcoin ,its never going to happen ,Facebook is a very popular social media platform but that's it to it ,going for crypto is not a bad idea but that doesn't mean it will outperform bitcoin,I'm sure it will help crypto get more popular but that's all there is

The current bitcoin position is very strong because being the first, investors will always make the bitcoin a measure of whether the market is red or green, and it is difficult for rivals to be able to replace bitcoin for the next 5 years.

[jabrix]

Rival? This will be no where near bitcoin. It is just another government controlled stable coin used to deliver utilities to WhatsApp and Facebook users who might want to share exchangeable values via the platform

Facebook Coin is made to be a rival to Bitcoin, assuming that many Facebook members become investors so that the price of coins is expected to be high soon. Of course the wish of a coin maker like that, and in my opinion there is nothing wrong.
But in reality it is not necessarily as expected, because the highest altcoin price is Ethereum which has not reached a quarter of the price of bitcoin. For example, Alibabacoin, which is predicted to have high prices because it is affiliated with a large company, even only costs US $ 0.2558. So dreams aren't necessarily a reality.

[taguig]

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?

Bitcoin symbolizes cryptocurrency, we have so many coins around that was built with huge funding and some with a huge market cap that are over a billion, but still, Bitcoin always made the headlines, I don't think Facebook's Globalcoin is going to be a threat it can zoom to the top but never surpass Bitcoin.

[PaoAj]

No way that it can rival Bitcoin at all. It will be popular, no question. Because of the brand behind it together with Mark Zuckerberg itself, huge potential because of a big personality behind it. Same way with Ecomi that has one of the founders of Pokemon that may possibly disrupt the collectibles space. Will Globalcoin have a potential to be a top 20 coin? No doubt, I can see a lot of investors and supporters behind this globalcoin but I think it's not gonna get nowhere near eth and btc.

[HodlerKing101]

No way that it can rival Bitcoin at all. It will be popular, no question. Because of the brand behind it together with Mark Zuckerberg itself, huge potential because of a big personality behind it. Same way with Ecomi that has one of the founders of Pokemon that may possibly disrupt the collectibles space. Will Globalcoin have a potential to be a top 20 coin? No doubt, I can see a lot of investors and supporters behind this globalcoin but I think it's not gonna get nowhere near eth and btc.

I also don't see it getting near ETH, and most importantly not the King. Good initiative though as it will result to mass adoption. Imagine all these crypto ads in Facebook, that's gonna be huge!

[TIDOVEE]

it is welcome and may be needed to ginger bitcoin. rivals induces comparism and competitions which in the vein activate reasons to grow.
so, to me facebook coin will strive and challenge bitcoin to stretch. i believe it will give a space for enough expansion of cryptocurrency at general.

[Pffrt]

How facebook is planning to name it globalcoin? I already have seen one project here with the same name. I think the information isn't true all, at least not the name.

[Dr.Osh]

Facebook might have the potential to be the 10 best coins, even in the marketcap. but, I think its use will also be limited. although it can compete fiercely, I think it won't defeat bitcoin. Since long time ago, I have always seen competitors in Bitcoin, until now, no single coin has approached it.

[styca]

It's not setting out as a bitcoin rival. It's a stablecoin to be used within Facebook. But I suppose given how Facebook is, we can't rule out the possibility that it will start to extend beyond that, with companies outside Facebook accepting the coin as payment. Facebook certainly have the financial muscle to make this into a huge thing.

[bangdol]

How facebook is planning to name it globalcoin? I already have seen one project here with the same name. I think the information isn't true all, at least not the name.

you can see the source of the news and its truth. if you don't find all that, maybe this news is just an issue made to make the market more busy.

[Amejoaquim]

I don't think so because for me bitcoin is the father of cryptocurrency and i don't think any coin can be bitcoin rival, even though it's a coin from Facebook.

[Wintersoldier]

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.

If facebook will going to be the one to manage their so-called coin, then there is a higher chance that it will going to be regulated. They will just going to make sure they have their own blockchain to manage their coin well. And what I can see in there, is a great market adoption that will going to happen. We just need to wait and see what it is capable of.

[sadewa69]

If facebook will going to be the one to manage their so-called coin, then there is a higher chance that it will going to be regulated. They will just going to make sure they have their own blockchain to manage their coin well. And what I can see in there, is a great market adoption that will going to happen. We just need to wait and see what it is capable of.

it is awaited, we will see extraordinary market adoption if the market response is very large towards the arrival of this Facebook coin. many people have talked about this big news, and we will be impatient waiting for his arrival in the crypto market.

[OrangeSeller]

There will never be any coin that will rival bitcoin ,its never going to happen ,Facebook is a very popular social media platform but that's it to it ,going for crypto is not a bad idea but that doesn't mean it will outperform bitcoin,I'm sure it will help crypto get more popular but that's all there is

Right perception about the Bitcoin is that if the Bitcoin’s demand goes down and those of any other coin outperforms the Bitcoin then consider the crypto will never exist. The crypto market is all about the Bitcoin and if it is going to die only the Bitcoin can do it because crypto appeared when Bitcoin born. Facebook will no doubt achieve high rating after they are done with coin announcement but not more than Bitcoin.

[mitchr4]

If facebook will going to be the one to manage their so-called coin, then there is a higher chance that it will going to be regulated. They will just going to make sure they have their own blockchain to manage their coin well. And what I can see in there, is a great market adoption that will going to happen. We just need to wait and see what it is capable of.

it is awaited, we will see extraordinary market adoption if the market response is very large towards the arrival of this Facebook coin. many people have talked about this big news, and we will be impatient waiting for his arrival in the crypto market.

The trust of crypto users towards Bitcoin is quite large. It will be difficult to make this coin be defeated but if the market says otherwise it could be that people are more interested to Facebook coin.

[heni_april]

The trust of crypto users towards Bitcoin is quite large. It will be difficult to make this coin be defeated but if the market says otherwise it could be that people are more interested to Facebook coin.

it won't be possible I guess. even though facebook has a large market and community support but bitcoin is very strong and has a large crypto community that supports and believes in bitcoin.

[xysheeh03]

Even if there is a so called FB coin, it is not to be compete to bitcoin because bitcoin is already successful in its figure. I tjink there are many struggles to face by the new FB coin before it can compare to bitcoin. Bitcoin is already something that is precious and valuable and no coin can compete with as of now.