Is Facebook's Cryptocurrency a Threat to Bitcoin?

It's been reported in the news recently that Facebook is preparing to launch its very own cryptocurrency project.

While details around this remain scarce for now, I thought it would be worth discussing whether such a project would pose a threat to Bitcoin and other traditional decentralised cryptocurrencies.

What do you think?

DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.

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facebook accounts are getting hacked every day. I would never keep any money on my Facebook account. As long as Facebook is still centralized it can't be a treat to bitcoin .

I don't think that Facebook crypto currency will be a threat to bitcoin because bitcoin is like a global currency that is acceptable by all sectors of businesses. But Facebook crypto currency will only be used within Facebook social media platform @louisthomas

I think Facebook's Cryptocurrency will not provide any threat to the Bitcoin, as Facebook is already facing the heat regarding the hacking of the personal data of their users. I don't think any user who has the fear of cyber attack will show any interest in facebook cryptocurrency.

like seriously, bitcoin is the father of all crypto facebook crypto currency would only follow the lead of bitcoin and others coin once launched. I don't see it as a treat to existence of bitcoin at all.

Speaking of your shirt, it is what it is. The upside is that at least you can eat spagetti without any worries. I had a similar shirt in the nineties, a decade I'm glad to have put behind me fashionwise. ;) ;)

Nice living room by the way.

Most people are conditioned and fb coin can get mass adoption easily but I will always have that bad taste in my mouth 😂

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If we can trust Facebook with our data, how will we do so with our money. It will serve its function but will never dominate bitcoin and others

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Lol! Facebook is an useless and wasteful community. They are still kid for Bitcoin even Steem.

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Not in any way, shape or form. It probably could help spark a new bull run though. But it won't compete with bitcoin, will simply be another coin on the market.

Only a threat if you can stake the coins and earn dividends.

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Maybe it’s a threat to shitcoins

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Not at all, the way things are going, Facebook is gonna be the GeoCities of 2020 coin or no coin. Something else will come along instead. This and the recent privacy focus is just the last roll of the dice as far as they are concerned.

Facebook is dying. It won't die but it's not going to be as big soon.

It's not a real cryptocurrency as it is centralized but lends legitimacy to the crypto space, which is a good thing.

Hey man, do you provide short term loan.

The Facebook coin i compare with the communists. The communists allways pretend to be democrates in their speach but they always act like communists in everything they do!

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Steem is a good contender against Facebook. See many great implications for this technology when it comes to Social Media

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