Topic: - Is Facebook's new cryptocurrency safe? - page 2. (Read 300 times)

I was not talking about old rumors. Facebook has confirmed that they are working on a crypto currency recently. However, there have not been confirmed/released details about the project yet. All details which are currenlty known are rumors. But that Facebook works on a cryto currency is a save information.

What I just heard about the Facebook's new cryptocurrency is something like a stable coin which uses the blockchain technology, just like what cryptocurrency now. So, it will like become the whatsapp application of China which on their country, they can pay using their whatsapp application. So, it's more like a stable coin and backed with fiat currency such as USD. Do you mean that you will invest in their coin? Like you will buy and hold it for the long term?

No, they are just considering to create their own crypto, which in the long run will be worthless if you ask me. In the short run you may get some profits, but basically it will be just like stocks of a company that you invest in. So, no it wont be safe like bitcoin is safe. Because bitcoin is decentralized and its fate isn't determined by any individual or company no matter how strong they may currently look. Facebook coin will be entirely dependent on the fate of the company. Remember MySpace? Today it is strong, tomorrow may disappear.

Did I miss something? I didn't see any Facebook coins or tokens yet? I did hear about but it was just a rumour there was no official announcement? Did they make any announcements?

Well, facebook is a huge company, i'm sure many people and investors will trust this new crypto facebook and crypto investors will invest on this one for sure. What i think is, if this new crypto by facebook is released and success, it will bring a good news to cryptocurrency. I'm sure crypto market will react and become positive.

I think this will be another centralized coin/token and as for security, We really dont know if its just still a rumour and no update on the progress of it.

yes, i heard this rumors a long time ago, but until now this rumors still be a rumors,
so, in my opinion at this moment facebook didn't ready to create their own cryptocurrencies

I tried to find more info about Facebook's crypto project after reading about it on MarketWatch. Unfortunately there are only some rumors, so you can't say anything about it yet. But I'm sure it won't be a completely decentralized solution. Facebook must continue to maintain control over the network for regulatory and criminal reasons alone. That's why I don't see it as a real crypto currency. However, this project could bring many more people closer to the topic of crypto currencies and convince them that only truly decentralized solutions are the right thing to do.

Good day! Honestly Im more exited that Facebook will have its own cryptocurency since I've been using the platform for over 5 years now. It wil be a huge steps for Facebook to join blockchain and it will help spread the word more to millions subscribers. There's a lot of social platform that are using lockchain and I think this should be the right time that Facebook should do the same. About the safety of our data, its also our responsibility not to post personal details there as to protect ourselves.

Sorry for any mistake in English, I'm not fluent   

Is Facebook's new cryptocurrency safe?

Recently the Facebook company announced its new proposal to create credit cards based on its new company cryptocurrency, I believe that initially this currency generates profit for its early investors, however, I do not see it as a reliable currency from the following points that I will address

I believe that the saying, "If you are not paying for the product, the product that is being sold is you." It fits well when the subject refers to the actions taken by Mark Zuckerberg, here in Brazil (which is where I live), the positions taken by the company Facebook and its subsidiaries are not very well seen in general here, in the elections of 2018 the same tried to censor parties and supporters with a more liberal and conservative vision, but gave full support to marketing advertisements for parties with communist bias / socialist, and to help the same recently run after recovering from the great scanda-what was the sale of data of its users to other companies

The question is: should I entrust my investments to this new cryptocurrency? My conclusion boils down to taking advantage of the launch to invest in other currencies as a small investment and then avoid using this new Facebook project because in my view if the security of our data was not safeguarded by the company imagine our bitcoin?