By now I suppose most of you have read the news.
http://techcrunch.com/2015/03/17/facebook-pay/What does it mean for the BTC price in the long and in the short run? Post here your thoughts.
------- Brain dump follows, beware likely incoherent blurbs ahead
Personally I'm worried for btc price. Why? Because it cuts directly into one major use case for bitcoin, for me.
One can organize a Facebook event, and get payment in advance for restaurant, hotel room or trip expenses. Everyone and their mom is on Facebook! They will go through the effort of connecting their bank accounts to Facebook because network effect. I know I would do that myself. It's so much better than organizing paid for events using meetup.com + bank transfers. Or bitcoin.
When everyone will have happily surrendered their identity and control of their money in exchange for ease of use and safety net of big brother Facebook, who will eventually care of using bitcoin instead, other than a bunch of freak techies like me?
Of all the times I've seen this downtrend and thought we will eventually go up, this is the first time I genuinely feel fear for the long term. My head is making up analogies with MySpace social network or OggVorbis audio format. Like bitcoin not becoming the digital currency of choice to price anything as in my dreams, but instead just going in history as an attempt to a digital gold substitute, which eventually failed to succeed after a relatively promising start. Just like when I bought OS/2 Warp and convinced my father to use it.
Call me a troll, whatever, I don't care. This is an emotional post. In Reddit it would just be downvoted to oblivion.
