Facebook coin is a global threat to BCH? - Do you agree?

[cheezcarls]

Hello everyone!

I just came across this article: https://www.newsbtc.com/2019/06/11/facebooks-global-coin-is-a-threat-to-bitcoin-cash-bch-down-3-7/

I don't know guys if you agree with this or not. I mean that FB's global coin hasn't launched yet in the market, but I was kinda curious about their claim of being a legitimate threat of Bitcoin Cash due to the number of users and their broad base.

It claims that they will be disrupting public chains such as BCH. I've met with BCH founder Roger Ver twice in Philippines and Hongkong. And possibly I would meet him again this month with my colleagues in the Philippines again, and I might let him comment about his thoughts about Facebook coin being a legit threat.

What do you guys think about Facebook coin being a legit threat to Bitcoin Cash? I would love to hear your thoughts about this no matter if its positive or negative.

Thanks in advance!

[florac9]

Your post is not enough to even make me think the Facebook coin is a threat to any altcoins in crypto space ,its still all speculation for now and just because Facebook is on of the highest social media doesn't state the fact that it will beat top altcoins ,the adoption rate will be high no doubt about that but its not the first coin with high adoption rate

[wilberthh]

Although facebook's coin will be the opposite of what cryptocurrency is meant to be (decentralized), we cannot deny the fact that this coin has a strong hype behind it because of the brand.
Regarding the threat to BCH, I think it's debatable because Facebook is the largest social media platform thus this coin will be greatly anticipated and adopted as time passes.
This is a real threat not just to BCH but to many online payment methods too. Anyways, I hope Facebook's coin will eventually bring more people to join the crypto field.

[etherixdevs]

Although facebook's coin will be the opposite of what cryptocurrency is meant to be (decentralized), we cannot deny the fact that this coin has a strong hype behind it because of the brand.
Regarding the threat to BCH, I think it's debatable because Facebook is the largest social media platform thus this coin will be greatly anticipated and adopted as time passes.
This is a real threat not just to BCH but to many online payment methods too. Anyways, I hope Facebook's coin will eventually bring more people to join the crypto field.

The most interesting fact, is that Facebook, will attract more people in the cypto field. So if new users will buy Facebook coin, they will know definitley also other major coins and blockchain bringing advantages to the world sector.

[Herbert2020]

no, it is wrong because the only thing facebook coin and BCH have in common is their centralization otherwise facebook coin is going to a stable coin run by a well known company while BCH is a shitcoin that thrives of pump and dumps so as long as BCH is getting pumped and dumped it will remain the same as it has always been and when it stops being pump-able it simply dies just like hundreds of other similar altcoins which went the same direction. meanwhile facebookcoin will remain alive even though it can become useless in a year or two because of it centralization and lack of privacy and intense censorship.

[icalical]

No, I don't think facebook coin will be a threat to any crypto, why?
because facebook coin will be used only internally for facebook related platform like facebook, live, messenger, facebook games, whatsap etc.
So it will not be a direct threar to any other cryptos

[eternalgloom]

LOL, I have to say that this article is completely ridiculous, there are coins that offer a much better alternative for cash than BCH does.
Marketcap isn't everything you know, barely anyone is actually using BCH. If BCH was indeed what Bitcoin couldn't be, a replacement for cash, then BCH would have much more activity than Bitcoin, which clearly isn't the case.

The author if this article tries to prove his point by showing technical indicators which supposedly support his claims, yet his fundamentals are complete wrong.

[iqlimasyadiqa]

No, I don't think facebook coin will be a threat to any crypto, why?
because facebook coin will be used only internally for facebook related platform like facebook, live, messenger, facebook games, whatsap etc.
So it will not be a direct threar to any other cryptos

In the initial use it does not look like a threat, but when we see this in a long period of time, it is very likely that global coin will have a far wider existence so that global coin might be used on a much wider platform. Facebook is a big name that can give a tremendous impact in building a real Global Coin image.

[Moore234]

I don't know much about Facebook coin. This article can't be 100% true. Though the crypto space is big for everyone i don't see how facebion is going to be a big threat to BCH.

[Khuongcute2503]

I think FB only launched StableCoin. And it will not pose any threat to altcoin. All are just rumors to create ads for FB coins.

[kurcalas]

Come on... Everyone keep talking about Facebook coin. There is no Facebook coin here. If they release it, then we can talk about it!

[Msworld83]

I dont know why someone will ever think of Facebook coin and bch are rival when they are not same coin forked from bitcoin and are jit having any related issue or target consumer cos Facebook coin is even not here yet for almost a year now we have been hearing the news and till now nothing has happen but we can't even compatlre the two but all alts and will do their separate thing in the market and every one will see what market take of them .

[dobolspeed3]

Come on... Everyone keep talking about Facebook coin. There is no Facebook coin here. If they release it, then we can talk about it!

Yeah, you are right. There is no threat to any altcoin before it will prove it. It is true that many people talk about Facebook coins and in the near future it will happen. So we wait for the facebokk coins to exist first and then we talk about the threat to other altcoins.

[livingfree]

I actually dont care with this comparison since it has been mentioned that these two are centralized. But it is obvious that they are putting fb coin into hype to make investors FOMO when it has launched.

You know the sentiment of the people here about BCH because majority doesnt really like that coin.

[mendra_2009]

For me talking about something that has not been circulated or launched (Facebook global coin) will only waste time in vain. I think Global coins, will not be a threat to Cash Bitcoin. I was waiting for the launch, but I did not need to compare it with the others. What's the problem? If it does prove to be a threat, leave it alone.

[zulfi125]

As you know crypto huge adopting by financial institutions and also attract by Facebook that's why issuing Facebook coin,after launch may be little affect on BCH.

[Erickan]

The Facebook coin is a stable coin, if it says it directly affects any current project, it must be Ripple. Facebook coin is created with the aim of creating an effective payment tool for their existing ecosystem. so it will be a stable coin, if it says it will affect the BCH it is absurd.

[CryptoIyke]

No doubt this will have the attention it deserves due to the hype that goes with it but a lot of enthusiasts are not happy it is coming at this time, especially after Facebook had banned the advert of cryptos on their platform. It may still be one of those regular coins and may likely not top marketcap earlier and go down eventually.

[meldrio1]

I don't think that this facebook coin threat to BCH or even any altcoins, well we don't yet in the future, facebook coin is not yet launch. I think facebook coin is a normal crypto to me, the market will not affect if this coin is launch.

[blackhawkeye1912]

How could we determine if the upcoming creation of facebook stablecoin is a treat to BCH if there's no idea of the functionality and purpose of facebook coin. Let's wait until the release of the whitepaper.