Facebook cryptocurrency: RIP Bitcoin?

in #bitcoin7 years ago

So the crypto world is in a frenzy over Mark Zuckerberg's reference to cryptocurrencies in his New Year's Resolution post.

The BIG question is which crypto-currency might Facebook accept...?

At a time when Bitcoin is already feeling the heat from Alt coins - especially Ripple - the timing probably couldn't be worse for the King of Cryptocurrencies. The recent stress on the Bitcoin network with its current lengthy lag times and hefty network fees is weighing hard. Bitcoin dominance per Coin Market Cap is sub 38% from its typical 50%+ position:

Image 2018-01-05 at 6.02.16 PM.png

But there is more at risk for Bitcoin than this in the eyes of Mr Zuckerberg....

Remember these old pals who fancied a stake in Facebook and ended up with a healthy multimillion $ settlement:
Image 2018-01-05 at 6.05.59 PM.png

The Winklevoss twins since went on to purchase over 1% of available Bitcoin making them the first Bitcoin Billionaires.

What might please Zuckerberg more than sinking Bitcoin's valuation to get one back on his old pals? e.g. by backing one of its near rivals or learning from them to launch its own killer Facebook currency...?

Either way, it looks odds-on that Bitcoin is out of the running for Facebook adoption.

So Bitcoin might just be in trouble later this year - what are your thoughts?

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