Your thoughts on Facebook's GlobalCoin

[unusualfacts30]

GlobalCoin is coming. What are your thoughts on this new Facebook-made altcoin? What have you heard about it?

Share your first impression!

It'll be a Global coin of its own. I don't see it as a bitcoin contender but I feel it'll be more popular amongst young adults who use facbook and insgram to express themselves. I don't think it would be that popular though, perhaps popular in the beginning but I don't think it will keep up under the pressure.

[Makkara]

By itself it's just a shitty blockchain solution, on the other hand it could either bring some benefit to the crypto world or destroy it completely since they are promoting a centralized solution led by big companies.

[raes]

By itself it's just a shitty blockchain solution, on the other hand it could either bring some benefit to the crypto world or destroy it completely since they are promoting a centralized solution led by big companies.

if it can increase the number of mass adoption of crypto ownership in the market, I think that would be good for the market. but I don't know there will be a negative effect from Facebook entering this industry or not. we will see it later when everything is really running.

[kap786]

As i heard  that Facebook is going to issue Globalcoin as a ‘stablecoin’ pegged to the US dollar. This will remove the volatility that is a difficult factor of the crypto market, at least for merchants and payment service providers.

[Mux@]

By itself it's just a shitty blockchain solution, on the other hand it could either bring some benefit to the crypto world or destroy it completely since they are promoting a centralized solution led by big companies.

I totally agree with you! Facebook controls each of its users and can provide information at the request of us intelligence. This social network is subordinate to the American government. All cash flows of users will be known to the us government and the us tax authorities. If You have something to hide, then using a token from Facebook is not Your option!

[DarkDays]

Looks like Libra is actually going to be pegged to a basket of four fiat currencies to begin with: JPY, GBP, EUR and USD.

So far it's practically the same as other stablecoins, with the only major difference being the huge number of partners Libra will launch with, and of course backing by one of the big four (GAFA).

If it is tradeable on public exchanges, then I expect Libra will eclipse Tether and TrueUSD as the number 1 stablecoin.

[l8orre]

Now everybody just picture that piranha-like swarm of blockchain savvy black hats that are already cultivating their hardons for when they finally get a go at molesting sweet facecoin!

 

Ain't gonna be enough popcorn in the universe (remember to stock up long positions!), because this will inevitably get hacked-

or does anyone seriously think that a centralized sillycone valley run corporate $hitcoin with a cpl billion facebook users will not have boatloads of vulnerabilities waiting to be exploited?

[Bitcoinqubit]

your so fucking dumb hhhhhhh in the moment you ask this better stay away from crypto you will lose and with stable coins there is no growth

If its a stable coin theres no use as investment anyway Tongue

be aware of false hopes and other scams and shit,,its very simple to know that stable coin its not about investment relative to the the MIND read it, because if you exchange dollars to euro its not called investment and dont bring roi(revenue) like cryptos and the same with stable coins its like to exchange dollars to euro or other fiat money


ASK EXPERTS IN BLOCK CHAIN MAIL THEM AND ASK IN NICE WAY ** they will say if you exchange money fait to stable crypto coin it like exchange dollars to euro or other paper money its not growing SO what the point to exchange and even more scam what you will by in facebook stickers for libra stable coin scam

in other w0rds n0n of the ab0ve guys so be aware...why we here to invest and and grow crypto indusrty


g0od lu3k

**

when somebody say bitcoin vs facebook its mean his mind empty but there scary shit he is dont aware him self and feel everything is normal, ... smart people say thanks god i dont lock inside mind like that because i was fucked up my entire life

do you get it ...

[21GlobalCoin]

https://www.reddit.com/r/CryptoCurrency/comments/c2ds7f/crypto_industry_leaders_binance_bancor_bitfinex/erjy3rx/

"Hello, USA resident here. It's insane to think about how almost every single person I know tells me that getting into crypto is a mistake and I'm dumping money into a 'bubble'. Yet suddenly when Facebook opens up a 'crypto' almost all top companies accept it and now everyone is excited for it like Even my dad is interested in it. Weird how last year when I mentioned something about it he called me an idiot."

[motienvolam]

In my opinion, Facebook coin, Libra (official name), might become another big scam coin, like Bitcoin Cash. It might be a big scam coin, in aspect of anonymous for their users. Facebook, years after its birthday, has never been a private platform, and their users' identities leaked from time to time. With Libra's whitepaper, and based on core developmental strategies of Facebook itself, I don't think Libra coin will bring any sort of privacy and anonymity for their users. Even when Libra used to pay for likes or other kinds of things on Facebook platform, users will have to do bunches of KYCs in order to withdraw their money (I believe).

[carrigan]

Facebook will really release their crypto in around 2020, the Libra Coin. Well, I think this can be one of the global coins that will worth better. It is kind of a stable coin. Probably, it may be ready to be used for any kinds of transactions in certain countries, moreover, it has great partnership with other financial systems around the world. Let's see how this coin will really exist.

[Docbee]

It is going to be used by masses, probably that is the reason US is having issue with facebook launching it. The only reason i don't like libra is because it's too centralized.

[killat]

As I understand they will NOT have full control over libra. All of the investors will have minimal power. However, Facebook can choose all investors, this might subvert the system in the process. Must be very careful with libra tho.

[Jating]

As I understand they will NOT have full control over libra. All of the investors will have minimal power. However, Facebook can choose all investors, this might subvert the system in the process. Must be very careful with libra tho.

Thank you for the fair warning, but it looks like you are not alone in this mindset, US government too. So Libra of Global Coin is going to have a rough road in the beginning of their existence.

I'm not sure if this is good though, or if this can bring a lot of changes from their perspective. So let's see how everything goes, a lot of hype, everyone is excited and majority says it will be a game changer.

[Jamjamz30]

As I understand they will NOT have full control over libra. All of the investors will have minimal power. However, Facebook can choose all investors, this might subvert the system in the process. Must be very careful with libra tho.

Most probably your thoughts about investors of Libra will happen considering they already have partnerships with different companies. When this happens, Libra will surely a stablecoin controlled by a few.

[cryptoblazter]

As i heard  that Facebook is going to issue Globalcoin as a ‘stablecoin’ pegged to the US dollar. This will remove the volatility that is a difficult factor of the crypto market, at least for merchants and payment service providers.

Knowing that it's a stablecoin backed by US dollar, will make Libra facebook coin better than other altcoins due to the stability of its value. We know that the new generation of cryptocurrency in form of stablecoin is getting much attention that might eventually get closer to mainstream adoption.

[zulfi125]

As you know Facebook will launch its coin LIBRA in 2020 and will be boost crypto market but will be negative impact on banks.

[Mpamaegbu]

GlobalCoin is coming. What are your thoughts on this new Facebook-made altcoin? What have you heard about it?

Share your first impression!

The Globalcoin has turned to be a rumour. What Facebook has is Libra. Frankly speaking, I think it isn't going to be an all -win situation for Mark and his Facebook. It's a mixed reaction kind of thing. The first being that the banks will be heavily affected because of Libra as many advertisers on the Facebook platform will have to boycott the banks and deal directly with Libra. Secondly, a massive awareness about cryptocurrency has already been created now since the launch of Libra a few days ago. Thirdly, a lot of people will want to avoid using Libra because it may not guarantee anonymity which is what Bitcoin is about. Facebook has the data and information of its over 2billion users and can easily track them wherever they may be. This is sad, honestly.

[RealMalatesta]

FB has sold their nodes to some handful of multi national companies, which imo is against the concept of decentralization.

Everyone here knows what is right and what they want, if Facebook coin does not represent the reason why crypto was created, we have other coins that does, most especially Bitcoin, the choice is left to users to choose between decentralized coin or centralized coin.

We can talk and shout from now till tomorrow, the coin has already been created and will gain popularity because of the reputation the owner has already built, so we should stop bugging ourselves over this Facebook coin which is simply just a stable coin to be used within their system for so many of their Facebook platform features.

[adzino]

GlobalCoin is coming. What are your thoughts on this new Facebook-made altcoin? What have you heard about it?

Share your first impression!

Not very impressed with it. I wouldn't even call it an alt coin. They are just some centralized coin. I don't see much difference between Libra payment system and Paypal. The only main difference is that facebook will be using the blockchain technology. If I am not wrong, even the price will be 1:1 in terms of USD. Was never a huge fan of centralized coin. Though this might help people to better understand the blockchain technology. So yeah, we do have some good sides over here.