Facebook Cryptocurrency

[guoyu78]

Facebook's new GlobalCoin cryptocurrency is a stablecoin used for payment purposes within its network and it won't be a speculative type commodity like Bitcoin and probably won't have smart contract features like Ethereum or Tron so it won't likely affect their marketshare

Your post is full of blunders. First of all, the name of the cryptocurrency is Libracoin and not Global coin. And secondly, it is not going to be a stablecoin. As per Zucker, the currency will be backed up by real assets (including cash and bullion), but the exchange rate will be fluctuating similar to Bitcoin or Ethereum. And thirdly, it is not confirmed that the coin will not have smart contract features. Those details are not public as of now. But in all possibility, why should they shy away from using advanced technology, when they have the option?

Hello, before you totally disregard people’s opinion, you have to also back your own claim up too with a solid link to the source of your own information.we have so many information flying across the internet as regards this proposed Facebook coin, and all having different version. To the best of my knowledge for now, Mark has not even usher a word as regards the coin, but I guess one of his partners has done so when he claim to defend the accusation that it will compete with bitcoin.

He totally disregarded the accusation, and according to the version that I read too, the coin is meant to be a stable coin and would be pegged to a dollar, so I do not know where your own source of information is coming from too, for you to think Facebook coin will be useful for investment, this is just a utility token to be used internally, and probably as a global stable coin.

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[Abiky]

Well right now, we can only predict. Bitcoin is very strong when it comes to competition of Libra with Bitcoin. The rate of Bitcoin adoption is huge. It has already been the leader in digital economy. Supply is limited and that is the reason it is disinflationary as well. We do not know if these kind of traits are attached with Libra. However Libra will accelerate the crypto adoption to a huge extent.

Agree. No other cryptocurrency has been able to outpace Bitcoin. Not even Ethereum, which is the world's second largest cryptocurrency by market cap. Considering that Facebook's Libra cryptocurrency will be extremely centralized, it won't stand a chance against existing decentralized solutions. The beauty of Bitcoin relies on its decentralized design where no central authority is in charge of its future direction. Also, supply is deflationary and only governed by the protocol itself. Unlike Libra, Bitcoin allows anyone to transact freely without the intervention of a middleman or third party.

I believe that FB's Libra cryptocurrency will become extremely monitored by governments worldwide and Facebook itself. This would greatly threaten the privacy of many people, as their transactions will be exposed to centralized entities. In effect, transactions can be restricted on the network, accounts can be frozen, etc. On the other hand, this is not widely possible on Bitcoin. Of course, if Libra becomes a success, then it would become widely adopted by the mainstream world. This would prove to become beneficial towards Blockchain technology itself, but not for Bitcoin.

Despite this, we cannot predict the future. Libra has just been announced, but it's awaiting launch within 2020. It may take some time before we could determine what would be of this new cryptocurrency within the mainstream world. As some of Libra specs have not been revealed yet, we cannot know for sure whenever it'll be deflationary or otherwise.

Nonetheless, Bitcoin and other cryptocurrencies will still be in the lead for many years to come. With already existent stablecoins like USDT, USDC, and more, Libra may have a fierce competition to keep up with once it's launched within the mainstream world. Just my thoughts

[miklesm]

I think Facebook LIBRA will play an important role in the cryptocurrency regulation, but it will not be an "enemy" of Bitcoin. Instead, it will attract new investors to crypto who will also be interested in BTC.

[Slavyanskiy]

No, I do not think that FB coin will be any threat to Bitcoin. Most likely, on the contrary, it will have a positive effect on the crypto market as a whole, as more people will begin to be interested in crypto currencies.

[freedomgo]

No, I do not think that FB coin will be any threat to Bitcoin. Most likely, on the contrary, it will have a positive effect on the crypto market as a whole, as more people will begin to be interested in crypto currencies.

Once people will understand more about the project, they will realize it will not become a threat but instead a hep to help bitcoin and the entire market crypto. We just think that Libra is adding value to the market, the problem with some people are just so dumb enough to make easy conclusion even without researching first on what Libra can bring to the market, they think anything that would come would be a threat.

[danherbias07]

Buying it for what reason?

It is a damn stable coin and it will just have the same value as USD.
You will buy it with $1 and after a year it will still be the same. So what happened?
Dont get draggeed by the hype, man. You will just drown with them afterwards.

[cahbagus555]

If they have to distribute their coin I think they'd be doing it on facebook itself. The users who had verified accounts and had submitted documents to facebook and connect thru thier mobile. Its going to make their job easy that way. When their libra is up, you can buy easily when you have done all these.

Binance has announced that it will be posted on its exchanger. And I think all major exchangers will be publishing Libra Coin because of the potential for large trading volumes. The crypto market will be more attractive if large exchangers start trading Libra coin and there will be many large investors who will enter the crypto market

[jazmuzika217]

I think facebook coin is a big threat to other crypto currency specially to bitcoin and altcoin whose on the peak of the crypto chart. First facebook coin don't need a marketing strategy because from it's name facebook people already know and continue to support facebook  all over the world so they can also trust to invest in facebook coin and I think time will come that this will be affect the bitcoin's price.

[JeffBrad12]

There's a lot of hype around Libra and facebook's involvement in crytocurrency in general. For a good reason it's getting people talking and really interested in how it will effect the space. While it may be good for people in third world countries I think for the greater good it ruins people's privacy

This is the main issue in using this libra coin, your own privacy. But if people is not worried that this company will know every step of their daily lives, then go for it. But I don't agree with the OP that this will be a threat to bitcoin or other altcoins. For those who value their privacy, they will not abandon bitcoin or any other altcoins that promote anonymity. And libra, being centralized, I don't think many crypto users are in favor of this feature. So nope, even though there are a lot of hype surrounding libra, it won't be a threat to bitcoin.

Can you expect the best privacy from the centralized coin and system that is fully controlled by the major company that always follow any order that already made by the regulators? I thought fewer people interesting in owned libra.
Bitcoin as the main crypto and best commodity so far will never be abandoned.

[bitgolden]

If they have to distribute their coin I think they'd be doing it on facebook itself. The users who had verified accounts and had submitted documents to facebook and connect thru thier mobile. Its going to make their job easy that way. When their libra is up, you can buy easily when you have done all these.

Binance has announced that it will be posted on its exchanger. And I think all major exchangers will be publishing Libra Coin because of the potential for large trading volumes. The crypto market will be more attractive if large exchangers start trading Libra coin and there will be many large investors who will enter the crypto market

Certainly we have lots of people that would not like the operation of Facebook coin, but For the sake of large investors that will  be needed to come into the market and help push the value of some coins high, I think we have to just support Facebook coin, because it may be the most popular coin when it becomes released aside bitcoin, the hype will really be so much within the first month of its increase.

During this hype period, it is every obvious that a whole lots of people would be initiated into the cryptocurrency market, and as we all know that what a lot of us are here for is mostly the benefit aspect of it in terms of investment. Normally payment should have been the major target, but as volatility is still present, people want to quickly take advantage of it to make as much as they can make.

[maxreish]

I am determined to buy FB coin Libra even though it is not available yet. I hope it is available on exchanges where i can buy easily.

Will it be a threat to BTC and other altcoins? I am afraid that the prices of BTC and other altcoins will go down. It makes me hesitate to buy some currencies like TRX currently.

What? Never will the Libra coin would be a threat to bitcoin and to some other altcoins. Have you already read their platform and their project's objective? They will be dealing with payment options and financial system in other words, Libra coin is a stable coin. Not will be a threat and would not be the reason for the bitcoin's price and other coins to go down.

[HanaTenun]

What? Never will the Libra coin would be a threat to bitcoin and to some other altcoins. Have you already read their platform and their project's objective? They will be dealing with payment options and financial system in other words, Libra coin is a stable coin. Not will be a threat and would not be the reason for the bitcoin's price and other coins to go down.

that is true, they will not be a threat to other crypto. it might even be an asset that provides support to other assets. I can't wait for next year where this coin will be officially published in exchange.

[katerina5643]

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[NathanJB]

I am determined to buy FB coin Libra even though it is not available yet. I hope it is available on exchanges where i can buy easily.

Will it be a threat to BTC and other altcoins? I am afraid that the prices of BTC and other altcoins will go down. It makes me hesitate to buy some currencies like TRX currently.

If you are really interested to buy Libra, then you must have already made yourself familiar with it. As of now, I can see that you really do not know anything about Libra at all. Libra is intended to be a stablecoin. Now, tell me, how could you make a huge profit out of it? A stablecoin does not move like Bitcoin and other alts. From the name itself, it remains stable.

[Abiky]

Once people will understand more about the project, they will realize it will not become a threat but instead a hep to help bitcoin and the entire market crypto. We just think that Libra is adding value to the market, the problem with some people are just so dumb enough to make easy conclusion even without researching first on what Libra can bring to the market, they think anything that would come would be a threat.

Libra cannot be considered a threat to Bitcoin and crypto, since it's centralized in every way. It's not even comparable towards traditional cryptocurrencies, since there's no censorship-resistance or immutability. Facebook will be considered the sole owner of Libra's blockchain ledger. This means, that it can do whatever it desires among people's transactions in a similar fashion as a traditional Bank.

Despite the facts, if Facebook's Libra cryptocurrency proves to become successful in the future, then it would bring a huge boost towards Blockchain adoption within the mainstream world. Libra won't be able to stand a chance against existent decentralized cryptos like Bitcoin and Ethereum, but it'll complement them in every way. This will bring some level of exposure towards people worldwide, allowing them to make better use of crypto and Blockchain technology.

Nonetheless, the existence of Facebook's cryptocurrency will be highly controversial as Banks and governments worldwide become threats of the same. They will not allow an alternative digital currency to take over Fiat anytime soon. Hence, Libra could just be an experimental ground for the world's upcoming global digital Fiat currency within the not-so-distant future. Just my thoughts

[oemar bakrie]

Business competition that is starting to appear now,, And I am more convinced that later only bitcoin and altcoin will survive even though Facebook is one of the most popular social media of any kind..

[meysonYo]

Business competition that is starting to appear now,, And I am more convinced that later only bitcoin and altcoin will survive even though Facebook is one of the most popular social media of any kind..

Blockchain Facebook should change the world and the very concept of cryptocurrency. With the introduction of this blockchain into life, everyone who actively uses a social network will be part of a large crypto community in the world.

[arnoldrimmer]

I have heard that facebook will have a project so it's likely to say that many will be interested in the facebook crypto project and I'm sure many investors will invest in facebook ieo.

Exactly I see the Facebook coin to be a survival of the fittest as so many people are very much interested in grabbing it. The big investors will have a much advantage but hopefully we can still grab some

[jvdp]

I have heard that facebook will have a project so it's likely to say that many will be interested in the facebook crypto project and I'm sure many investors will invest in facebook ieo.

Exactly I see the Facebook coin to be a survival of the fittest as so many people are very much interested in grabbing it. The big investors will have a much advantage but hopefully we can still grab some

They were grouping up with big investment from private investors.I believe there is no public route cell for normal people who wish to invest and Libra coin.
Today I have came across the white paper of Libra coin as well as gone through their website. It is already available project but since it is a centralised medium take and make the promotion on their platform directly. It will definitely push Facebook coin to high position once it has been launched.

[sniveling]

I have heard that facebook will have a project so it's likely to say that many will be interested in the facebook crypto project and I'm sure many investors will invest in facebook ieo.

Exactly I see the Facebook coin to be a survival of the fittest as so many people are very much interested in grabbing it. The big investors will have a much advantage but hopefully we can still grab some

They were grouping up with big investment from private investors.I believe there is no public route cell for normal people who wish to invest and Libra coin.
Today I have came across the white paper of Libra coin as well as gone through their website. It is already available project but since it is a centralised medium take and make the promotion on their platform directly. It will definitely push Facebook coin to high position once it has been launched.

Facebook made so much noise with his coin. I think that this is only PR for the company. There will not be such a strong coin in the cryptovalt market.