CNBC Crypto Trader host, Ran NeuNer’s views on Facebook’s GlobalCoin
Max Keiser says FB Coin is designed to kill altcoins
As the alleged launch of Facebook’s GlobalCoin is getting nearer, the cryptocurrency community members are looking into the possibility of the digital currency competing with Bitcoin, Litecoin or Ethereum, and some other decentralised digital currencies.
As this possibility becomes a widespread opinion, some major experts in the digital space are looking at it from another point of few. The rumours that Facebook is tirelessly working to launch its digital currency this month gives the cryptocurrency community a scary view of GlobaCoin.
While some are of the opinion that Facebook’s GlobalCoin is digitizing money, some observers from different ends say it is meant to benefit from the long time work of Satoshi Nakamoto by riding on its, (Facebook) wide range of credibility to sweet talk governments and regulatory agencies.
Host of CNBC Crypto Trader, Ran NeuNer during an interview with BlockTV weighed in on Facebook’s GlobalCoin, saying the digital asset does not compete with anything cryptocurrency.
Despite the excitement that Facebook is joining the digital money space, the cryptocurrency expert is sure GlobalCoin competes with Venmo, Paypal, US Dollars, and some other platforms since it is a centralised form of money.
His theory is that, Facebook is working with regulators to make sure its coin complies with regulators in the US, India and some other countries. NeuNer said Zuckerberg is the most powerful person in the world, considering the number of people using his platforms. This case could be of help to the cryptocurrency at large.
As theoretical as NeuNer’s observations may be, it contradicts that of Bitcoin and gold expert Max Keizer who sees FB Coin destroying Ripple’s XRP and a host of other digital currencies.
Keiser, being a bitcoin maximalist, believes BTC is the only digital currency that cannot be debased by Facebook’s in the offing digital currency.
Keiser is sure of the potential of Facebook’s GlobalCoin making altcoins worthless, to say the least, it will at the end increase the popularity and the price of Bitcoin. The reason is that Bitcoin is a strong competitor to gold and not fiat currencies.
Olayode has made meaningful contributions to Huffington Post, Thrive Global, Oracle Times, The Independent Republic, Forbes, Washinghton Post and a host of other news magazine. He's a blockchain enthusiast covering news on notable cryptocurrencies and seminars from far and within.
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