Facebook’s Libra will likely end up being a beneficial detour on path to broader Bitcoin adoption, claims Caitlin Long

2019-6-10 16:00

The cryptocurrency universe has been closely observing Facebook’s decision to launch its own crypto, Libra. After the news first broke out, many have been speculating what the social media giant could do with its crypto. Caitlin Long, Co-founder of the Wyoming Blockchain Coalition, laid out six predictions which went on to ruffle some feathers in the community.

Long’s very certain that Facebook’s crypto will prove to be a positive force in developing countries and that it might pay interest to the holder of its crypto. According to Long, this might lead to “populist calls to repeal subsidies at the heart of the US banking system.” However, she is of the view that unlike other issuers of stablecoins, Facebook won’t be able to make big profits without sharing it with its users. Long said,

“3/ It’s true that #stablecoin issuers generally pocket the float on the assets backing the coins, but I go out on a limb & predict there’s no way @Facebook will be able to pocket these big profits w/o sharing them with users. To be clear I haven’t seen @Facebook disclose this.”

Another prediction by Long suggests that Facebook’s entry could end up being a beneficial detour towards growing adoption, something that happened with the growth of Bitcoin.

“Sixth, @Facebook’s foray into #cryptocurrency will likely end up a beneficial detour on the path to broader #bitcoin adoption. By educating consumers abt the benefits of #crypto & improving the user experience, FB will pull more users into #BTC whether it intends to or not “

People might switch their cryptos to Facebook’s Libra if they figure out crypto and user experience with Facebook, said Long. If Long’s prediction about Facebook sharing its profits with users comes true, then it would be difficult for others to challenge the social media giant following the huge adoption drive it will fuel.

The post Facebook’s Libra will likely end up being a beneficial detour on path to broader Bitcoin adoption, claims Caitlin Long appeared first on AMBCrypto.

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facebook long → Ðåçóëüòàòîâ: 54


Facebook’s Cryptocurrency Will Pay Interest to Users, Predicts Blockchain Regulator

By CCN Markets: Facebook’s GlobalCoin cryptocurrency will likely pay interest to its users. That’s the prediction of Wyoming Blockchain regulator and crypto champion Caitlin Long. The social media company is gearing up to announce its much-hyped cryptocurrency this month, but very little is still known about the project, known internally as Project Libra.

2019-6-10 11:13


White House launches social media survey to collect Conservative tears

The Trump administration on Wednesday launched launched a new tool where pissed off Conservatives can whine about social media bias. So long as they’re legal citizens, anyway. For Conservatives like Trump, a man who rose to prominence on the backs of the social networks he’s now convinced are out to get him, the argument isn’t a new one.

2019-5-16 04:56


Facebook Coin Seeks $1 Billion in Funding; Is it Really the ‘Biggest Boon for Crypto Ever?’

Crypto entrepreneur and hedge fund manager Jeremy Gardner says Facebook’s impending cryptocurrency is not a threat to the bitcoin community. In fact, he believes it’s a huge positive for crypto. Speaking at the ELEV8 conference, Gardner said: “This may be the biggest boom for crypto ever… I can only see it being a net positive in the short term.

2019-4-9 17:40


(+) Bitcoin VPN: Opera Browser Is Quietly Assaulting A Key Crypto-Accepting Industry

People use virtual private networks for a variety of reasons, privacy chief among them. A virtual private network is a good way to mask your location to websites you visit. For people in countries where governments censor content and content providers – including companies like Google and Facebook – must comply with their demands, a VPN is essential to experience the actual internet.

2019-3-20 01:45


Ôîòî:

Don’t Count Facebook’s Crypto Or JPM Coin Out, They Could Boost Bitcoin

At long last, incumbent corporations of legacy industries have begun to delve into cryptocurrencies, not just blockchain technologies. While Bitcoin (BTC) has continued to struggle, save for its relatively stellar performance over February, Wall Street darling JP Morgan and Silicon Valley’s Facebook have announced serious intentions to offer their own digital assets.

2019-3-3 00:00


Could TRON (TRX) Blockchain And Cryptocurrency Network Really Dethrone Facebook Or Twitter

Social media platforms are a great way to build communities, whether it is to support a cause or a business goal. Many popular platforms like that of Facebook, Instagram and Twitter, are some of many that have seen growing communities, however, many projects will not last over the long run. Both Twitter and Facebook have […]

2018-8-8 11:24


Crypto Companies Start Censoring on Medium, the Latest Platform to Censor

Blogging service Medium joins a long list of platforms to have clamped down on crypto content together with Facebook, Google, and Mailchimp. Also read: Freedom of the Press Foundation Now Accepts Five Cryptocurrencies Medium Wields the Banhammer on Bug Bounties Medium is the crypto community’s platform of choice for long reads and thought leadership pieces. In

2018-6-20 21:25


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