Facebook "CryptoCurrency" Whitepaper is out --> What impact will it have?

[anatolij.shishkin]

Impact will be. If a major player goes to the market. That means this is a promising market. That's all. So the plan is to develop projects for 10 years in front of the built. And where there is facebook and google and other market companies.

[nutella_11]

I think it's a mistake to compare Libra with other cryptocurrencies - the only similarity between them is blockchain tech and its general function. Whole agenda of Zuckerberg's coin is completely different from idea behind cryptocurrency concept.
Even in his FB statement about Libra, Zuck have said that main purpose of this coin is "to create a simple global financial infrastructure that empowers billions of people around the world ". So it's obviously aimed in banking system, but it won't work like BTC and other cryptocurrencies. Libra will be more available, cause it will have whole infrastructure of FB and its partners (like Visa or MasterCard, so it's highly possible that you will be able to buy this coin in a seconds, in case of bitcoin such option is available only in services like buycoinnow.com).
And one final thing - FB didn't use word "cryptocurrency" even once in context of Libra. But I believe both of them my coexist in peace

Yes, I totally agree with you. I think that Libra won't be a cryptocurrency, its definition is different, as you said. I know that Libra seems to be a crypto, but if you are into cryptocurrency world, it's easy to notice the distinction between Libra and cryptocurrencies

[rmilly]

I think the biggest thing is this allows for FB to become the biggest data collector in the world. That is scary. People don't really grasp the importance of their privacy especially their transaction and purchasing history. I am confident there will be companies like Elixxir who will prove privacy of payments can and should exisit

[akram143]

I don't have the complete confidence about the wait paper in any cryptocurrency but when it developing only I can see the changes and after I made my investment otherwise I don't directly invest in the very beginning stage because no thing is 100% profitable in the beginning

[sandra_1]

I think it's a mistake to compare Libra with other cryptocurrencies - the only similarity between them is blockchain tech and its general function. Whole agenda of Zuckerberg's coin is completely different from idea behind cryptocurrency concept.
Even in his FB statement about Libra, Zuck have said that main purpose of this coin is "to create a simple global financial infrastructure that empowers billions of people around the world ". So it's obviously aimed in banking system, but it won't work like BTC and other cryptocurrencies. Libra will be more available, cause it will have whole infrastructure of FB and its partners (like Visa or MasterCard, so it's highly possible that you will be able to buy this coin in a seconds, in case of bitcoin such option is available only in services like buycoinnow.com).
And one final thing - FB didn't use word "cryptocurrency" even once in context of Libra. But I believe both of them my coexist in peace

Yes, Libra is not a cryptocurrency. That's for sure. But although that fact, I think it can influence on cryptocurrencies. But there is one important thing - Libra won't be any danger for the most powerful cryptocurrencies like Bitcoin, Ethereum, Litecoin etc. This is only my speculation, lets see how it goes.

[Jaspion]

as for me facebook coin has no future. and its marketing will not help. ofc

[Elkmar]

None, because facebook is too big.

Europe is already beginning to threat facebook and to cancel everything about Libra.

[Novatech8]

The only impact I expect from Facebook coin is more awareness and adoptions from new investors which I believe will increase the chances or spreading the news about crypto ,I believe there are still millions of people left out of crypto space

[Iyanu14]

There will be some negative effect of Libra coin in the crypto world but the positive effect will be more than the negative effect, there are many people knows about crypto when libra was announcement more will know when it launch officially.

[cupruri]

There was absolutely no effect on the market, and I found it very suspicious. One of the biggest social media giants just entered the crypto industry and did absolutely nothing till now. Hope things will turn better in the future.

[Betwrong]

as for me facebook coin has no future. and its marketing will not help. ofc

That is a wrong assumption, I would say. Facebook has 2.3 billion monthly active users, and its net income for 2018 was over $22 billion. They can easily spend hundreds of millions USD on Libra support, including promotion and technical development. Mastercard, PayPal and Visa have already become members of the Libra Association, paying $10m entrance fee. If there are altcoins that potentially have future, Libra is definitely one of them.