'Facebook Has a Cryptocurrency, And It Doesn't Matter...'

[CryptoPressAssociation]

I've seen a lot of pretty intensely negative reactions as well - overblown?!

Not saying its good, but probably not a threat or likely to have any negative impact

Facebook Has a Cryptocurrency, And It Doesn't Matter...
Everything is going to be just fine.

Over the last 24hrs, I've seen way too many people making way too much out of this.  We need to talk.

Here at the Gloabl Crypto Press Association, we've been on top of this story from day one.

Actually... before day one, seriously.

Being based in Silicon Valley, just among our own staff there's people who worked for/with Facebook in various capacities. In my case, I was born and raised here, and if you're from my generation you're going to have friends from high school or college who ended up at Facebook.

That creates an atmosphere where if Facebook (or Zuckerberg specifically) mentions blockchain or cryptocurrency, somebody is going to bring it up to someone here.

For us, it started with Zuckerberg's sister entering the cryptocurrency industry last year - now you have to wonder if perhaps this is who first planted the idea in Mark's mind...

continued at source: https://www.globalcryptopress.com/2019/06/facebook-has-cryptocurrency-and-it.html

[cabron]

I believe they can convince someone to try cryptocurrency, I don't think they can convince someone to trust them.

While its true, we can never be able to say no when people around us are only accepting the coins they knew and the only they have. Facebook is just too huge that with just one announcement, it already reaches to million monitors. I have a friend in facebook who suddenly PM me about this Libra, and this guy knows nothing about cryptocurrency nor blockchain but he know I was into BTC. This guy now has interest in claiming Libra coin.

Of course it does matter.

[Mr.Zero]

Yea that ia true, i agree with that.
LIBRA the Facebook coin on tranding topic now all people here have any different statements with it.
I am on the bad side, i am not too believe with LIBRA because it is just born and have a huge chance to fall.

[proTECH77]

Agreed in my own opinion, Facebookcoin can never post a threat to Bitcoin and when investors get into the token they will eventually get to know the true coin behind all coins and tokens. Libra is a centralize token and will be use for payment around facebook. Facebook as we know is not reliable when it come to data and with this many investors will shun their acceptance as time goes on for Bitcoin or any other decentralize coin or token.

[passwordnow]

I don't see it as a threat instead it will make the market on mainstream because it bears the word 'crypto' on its description.
That's what I'm thinking positively about it. A stable coin that's made by facebook and has various companies that supported the project.
Why people are hyping this much and thinking that it will dethrone bitcoin and can be the new king? they are exaggerating it that much.

[I Like Bitcoin]

I think after Facebook introduces its coin, then for the crypto sphere in general, there will be new good times, since so many people will start to be interested in crypto currency.

[Ken_terrance]

Facebook coin can't post any threat and I believe many Facebook users will finally now what crypto is with Libra actually so I say it matters ,we still have too many people who know nothing about crypto

[Nalbo]

I don't think the Crypto community or the bitcoin community has to fear about the said coin. It's not coming here to compete with bitcoin. It would just help spreading the benefits of using crypto by making a cryptocurrency accessible by large number of people. With crypto knowledge comes crypto adoption. Facebook's coin's going to boost the sale of bitcoin and altcoins.

[Bananington]

Yeah, I also have same reasoning with this context. Facebook's cryptocurrency is going to be a  stable coin, hence I see no reason why it will become a threat. It only becomes a threat to the centralized architectures already existing and not Bitcoin and the solely decentralized blockchain architectures. People have been saying that facebook has over 2 Billion people, for me it's a good thing. This means more and more people will get to know about crypto hence skyrocketing the overall market cap and drives towards adoption.

[mersal]

From my knowledge its a stable currency so obviously doesn't going to affect the crypto market at any range only we might see some people transferring from one stable coin to other it it was continuous story with every stable coin created.

This is the HYIP facebook wanted about their cryptos whether it is positive or negative to the crypto community.

[Yalovtsev]

Well, now a lot of information on this subject,someone says that the project will be worthy and strong enough,someone on the contrary that more advertising,but for me, Facebook is a powerful project,and even add how old his audience,it can be concluded that the project is likely to be successful

[Classica35]

Ever since the CEO of Facebook made announcement as regards his interest in cryptocurrency, it gave more assurance to the present and intending crypto enthusiast that cryptocurrency has a future.
Therefore, it does matter, because considering that, a lot of people would want to use and by virtue of that, t will bring about mass adoption.
If there are millions of people who are yet to join those presently using, cryotocurrency, it means more millions are coming to join.

[CryptoPressAssociation]

Beyond just not being a threat to bitcoin, it could really give the markets a nice boost, as stated in the article...

There's countless ways Facebook's cryptocurrency can serve as a pathway, leading people and businesses in to the general cryptocurrency market and economy. While at the same time, limited in the influence it has over what we've built so far.

In other words, I think this is a one way street - and it's sending people in our direction.

[awakpane]

In my opinion, if Facebook designs its own Cryptocurrency it indicates that Cryptocurrency is now in great demand and progress will be further developed.

[trickyriky]

I don't see it as a threat instead it will make the market on mainstream because it bears the word 'crypto' on its description.
That's what I'm thinking positively about it. A stable coin that's made by facebook and has various companies that supported the project.
Why people are hyping this much and thinking that it will dethrone bitcoin and can be the new king? they are exaggerating it that much.

Why should it become a threat? Vice versa, it will be simply a convenient cryptocurrency, which can be used in all countries (at least, Facebook planned it initially). Even the new wallet will be used (Calibra, if I am not mistaken). Calibra can be used to send money to anywhere in the world, to buy drinks like coffee, various food, utilities, travel by public transport.

[Olatunjex]

I've seen a lot of pretty intensely negative reactions as well - overblown?!

Not saying its good, but probably not a threat or likely to have any negative impact

Facebook Has a Cryptocurrency, And It Doesn't Matter...
Everything is going to be just fine.

Over the last 24hrs, I've seen way too many people making way too much out of this.  We need to talk.

Here at the Gloabl Crypto Press Association, we've been on top of this story from day one.

Actually... before day one, seriously.

Being based in Silicon Valley, just among our own staff there's people who worked for/with Facebook in various capacities. In my case, I was born and raised here, and if you're from my generation you're going to have friends from high school or college who ended up at Facebook.

That creates an atmosphere where if Facebook (or Zuckerberg specifically) mentions blockchain or cryptocurrency, somebody is going to bring it up to someone here.

For us, it started with Zuckerberg's sister entering the cryptocurrency industry last year - now you have to wonder if perhaps this is who first planted the idea in Mark's mind...

continued at source: https://www.globalcryptopress.com/2019/06/facebook-has-cryptocurrency-and-it.html

Last year post that has something to do with cryptocurrency
were removed, i still can't believe it's the same Facebook which is planning to have it's won cryptocurrency.

[Raymondavid47]

Well, honestly am not really psyched about the Facebook coin the way some people are. One of the reasons being me not investing in it. I will honestly say this Facebook coin is a good thing in the crypto world. It's bringing cryptocurrency to the main stream and this will bring new money/funds to the crypto market. So this could also lead to the rise in price of Bitcoins and other cryptocurrencies. This is actually something to be psyched about.

[kickdapa]

Some people are mocking facebook for coming in the crypto world, I don't know why. By facebook, Billions of people will use cryptocurrency, they will research about bitcoin and other currencies. The world will know how powerful the blockchain technology is!  It's like a mass adoption for the crypto!

[akeegan]

it's going to take data collection a whole new step further. We already see facebook selling our data otherwise but imagine now they will be able to analyze our spending habits. I've learned a lot from data privacy in regards to our payments from crypto OG David Chaum esp in comparison to where Facebook stands against privacy.

No wonder David set out to create a privacy payments and messaging app like Elixxir.

[CryptoLogo]

I do not have any grand expectations about the Facebook coin. I think it will become a conventional digital currency and nothing more.