Topic: Could Facebook and other corporations hijack the blockchain movement? (Read 215 times)
July 15, 2018, 04:35:40 AM
I agree that more exposure is good for the overall blockchain movement, but it would be a shame to see some of the large decentralized projects now displaced by corporate giants. They did this due to the fact that most of the ads related to passwords on Facebook are pretty much scams, so this is really good for Facebook and good for us in the crypto
July 13, 2018, 05:03:28 AM
I'm not an expert but for me it seems positive right now because of those giants will enter blockchain and show their widely acceptance of Bitcoin for whole world to see, then more of people would gain trust in Bitcoin and other cryptocurrencies.
July 13, 2018, 01:30:31 AM
Facebook and social media platforms are the greatest Media power in this world for now, they can just turn it all upside down. So I am also concerned about the direction of blockchain development, but I'm thinking that we will be beneficial anyway.
July 12, 2018, 10:23:53 PM
I agree that more exposure is good for the overall blockchain movement, but it would be a shame to see some of the large decentralized projects now displaced by corporate giants.
July 10, 2018, 09:56:38 PM
Facebook is taking the lead in the trend, but they do not really care about that
May 18, 2018, 12:38:13 PM
I think it is not a big issue. People can involve with their preferred blockchain. All corporation will use their own blockchain. So I believe it won't be an issue of FUD in future.
May 18, 2018, 04:28:56 AM
FB is not that powerful though.
Not that powerful you say? You know that the Facebook stock has a marketcap of over 500 billion USD, right? Compare that to Bitcoin's marketcap of 138 billion USD or the total cryptocurrency marketcap of 371 billion USD (coins listed on Coinmarketcap).
If the company announces they're launching their own token or full blown cryptocurrency, you can bet that the total marketcap is going to double in a day or so.
Their coin would be on top of coinmarketcap for sure.
May 18, 2018, 03:43:07 AM
This is nothing to really worry about. The blockchain movement is something that everyone does not want to miss out on as they are aware of it's power and advantages. It has a standard and can only be modified for better usage to deliver productivity. So we shouldnt be afraid of this because change and improvement are constant.
May 18, 2018, 03:18:22 AM
first of all you should not confuse usage of blockchain technology with a cryptocurrency such as bitcoin. they are two very different topics.
secondly anything that companies such as Facebook or banks, government,... create will be a centralized platform, a private ledger,... and it is not even similar to other decentralized projects based on the blockchain technology. as a result they will not be able to affect, hijack, kill, .... the decentralized projects at all.
but they will be able to gain popularity because they are centralized and will advertise the shit out of it. they have dedicated funds for advertising. and also they will sue anyone who dares call them "fraud" or spreads FUD about them...
secondly anything that companies such as Facebook or banks, government,... create will be a centralized platform, a private ledger,... and it is not even similar to other decentralized projects based on the blockchain technology. as a result they will not be able to affect, hijack, kill, .... the decentralized projects at all.
but they will be able to gain popularity because they are centralized and will advertise the shit out of it. they have dedicated funds for advertising. and also they will sue anyone who dares call them "fraud" or spreads FUD about them...
Very well explained, the fact that large companies such facebook are using the blockchain technology means they notice a big potential about it so they try to copy and join the popularity of Bitcoin but in the end they are still centralized platform. so people who loves the decentralization will never migrate on their new platform because we don't want to be control by these centralized platform's.
May 18, 2018, 03:08:53 AM
what about Twitter?
May 18, 2018, 02:36:31 AM
Now that Facebook and other huge players are (and have been) acting to get involved in the blockchain movement, I am concerned that this might lead to a steady 'hijacking' of much of the crypto space, as these huge actors could potentially influence the growth of their own private blockchain solutions over existing public blockchain projects. We know the power over the media these players have, and their ability to induce hype or FUD.
What do you guys think? Is this anything to be concerned about?
This is a problem since facebook is the best materials of all crypto users worldwide and now the facebook is creating own crypto coins,so there can be a issue with all the crypto accounts connected to facebook.What do you guys think? Is this anything to be concerned about?
I have a big sympathy on mark Zuckerberg that he will keep our accounts privacy but we cant take it that theres a posibility that this can be used against us or against crypto
May 18, 2018, 12:44:45 AM
first of all you should not confuse usage of blockchain technology with a cryptocurrency such as bitcoin. they are two very different topics.
secondly anything that companies such as Facebook or banks, government,... create will be a centralized platform, a private ledger,... and it is not even similar to other decentralized projects based on the blockchain technology. as a result they will not be able to affect, hijack, kill, .... the decentralized projects at all.
but they will be able to gain popularity because they are centralized and will advertise the shit out of it. they have dedicated funds for advertising. and also they will sue anyone who dares call them "fraud" or spreads FUD about them...
secondly anything that companies such as Facebook or banks, government,... create will be a centralized platform, a private ledger,... and it is not even similar to other decentralized projects based on the blockchain technology. as a result they will not be able to affect, hijack, kill, .... the decentralized projects at all.
but they will be able to gain popularity because they are centralized and will advertise the shit out of it. they have dedicated funds for advertising. and also they will sue anyone who dares call them "fraud" or spreads FUD about them...
May 17, 2018, 11:59:46 PM
Yes, it's definitely a matter of concern. There is always a good and a bad side to everything. Though Facebook and other big organizations getting involved with cryptomarket is good for its growth and exposure , but then again there is a threat that it might get controlled by all these organizations.
May 17, 2018, 10:41:40 AM
It also really matters what you mean when you say hijacking the movement, because as of right now all of the new coins and such have pretty much just been shit and trying to ride off of the love of all things relating to the blockchain movement. So if big companies were to get involved I do think that more people (regular everyday people who don't care about bitcoin yet) would want to get involved with these movements as they have the backing of people they trust.
So, no, I think that at least in the start they're going to help in them being more adopted. From there though, who knows.
So, no, I think that at least in the start they're going to help in them being more adopted. From there though, who knows.
May 17, 2018, 10:19:21 AM
no, not that easy my mate no matter it's facebook goolgle or who ever else, hijacking wont be that much easy at all. and day be day our secirity are getting strong as Thanos. they might creat some FUD, they have that power, were we only can do is to teach the people with real knowlegde about cryptos.
May 17, 2018, 08:01:02 AM
Facebook wants to develop their own coin and they wants to be a competitor of bitcoin and they wants to invest their own system so if people wants to use that coin which facebook developing it’s up to them because if they are smart enough they won’t gonna invest money in there because bitcoin price is high and acceptable for all people and can use whole world so facebook never gonna compete with bitcoin because facebook is far away from bitcoin.
May 17, 2018, 08:00:16 AM
It is quite impossible. At least they cannot hijack bitcoin and also the block chain technology. I believe you're alluding to the news that Facebook will dispatch its new crypto yet don't give it a chance to trouble you its unified not decentralized. There is no doubt as far as I can say that numerous artless financial specialists will succumb to this and they'll lament. Facebook is as of now confronting erase Facebook voices by this they'll attack your funds to and it won't end well for any individual who contribute so don't worry much.
May 17, 2018, 07:52:30 AM
From my perspective i think the news was fake .why they hijack the blockchain movement if they wants to do this they can’t because blockchain has their own security system for protecting this types of hijack.
May 17, 2018, 07:37:05 AM
Now that Facebook and other huge players are (and have been) acting to get involved in the blockchain movement, I am concerned that this might lead to a steady 'hijacking' of much of the crypto space, as these huge actors could potentially influence the growth of their own private blockchain solutions over existing public blockchain projects. We know the power over the media these players have, and their ability to induce hype or FUD.
What do you guys think? Is this anything to be concerned about?
What do you guys think? Is this anything to be concerned about?
Well in order to take part in most alt projects you need capital... So the rich (banks, big corp etc...) can literally "hijack" this space whenever they want.
It actually is already happening for example look at bitcoin. Its mostly generated and hold by a few rich miners. Look at ripple, its #3 right now and it is a centralized project working with banks.
The only way to keep crypto "pure" and decentralized is if people adopt such solutions and the creating teams airdrop equally the tokens like in a way similar to universal basic income.
May 17, 2018, 07:31:23 AM
Facebook has played cleverly regarding crypto currencies. At first they banned the ads of crypto currency from facebook so that people doesn't get involve to it. Later on they themselves invented a crypto coin bacause they know how popular they are among people. So, they utilize this popularity and made a Facebook coin. Now, people will choose whether that would go to bitcoin the most popular crytp currency or Facebook currency which is much secured than others. I must say well played Facebook!
I agree- brilliant maneuvering on their part! I suppose the general crypto market would without doubt grow if Facebook did say introduce a Facebook coin, it would just be a shame to see one of the big giants be the ones to make crypto mainstream- and take a lot of the rewards for it.
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