Facebook’s coin Played a Role

Last Modified:8 Dec 2019 11:30:29
Facebook’s coin Played a Role

Has Facebook’s Cryptocurrency Played a Role in the Growth of Bitcoin and Other Cryptocurrencies?

Libra or the stablecoin that is set to be released by the big company Facebook, has had a serious and fundamental role in the development of news and growth of different cryptocurrencies. Different experts believe that the rumors, news, and stories that Facebook has caused in the crypto world, has furthered the growth of Bitcoin and its counterparts as much as three years. Though some believe that perhaps this much attention will not end in favor of cryptocurrencies in the future and the limitations and constraints that are imposed on them by governments will interfere with their development process.

Will the Strict Observations and Limitations Regarding Cryptocurrencies Increase?

Given all the attention given by states and official and legal institutes to cryptocurrencies, two different futures are considered for them; focusing on them and blocking their free movement in the path of growth or reaching prosperity even more through the support of states and their becoming legalized. Although it is not yet possible to get an absolute result from the process of changes and growth of cryptocurrencies like Bitcoin, as the attention of the world is focused on cryptocurrencies, some people believe that the possibility of growth for cryptocurrencies is much more than the possibility of their becoming limited.

The reason for this belief is to refer to this point that if much attention and focus are given to cryptocurrencies by states, investors will also be persuaded to enter this field and would think that legal observations and state supports can increase the security of crypto markets to enter them. Investors are always looking for secure fields in which investing and entering has some reasonable capacities. As a result, the support and presence of states in the markets related to cryptocurrencies and Blockchain can encourage and persuade them to be active in the mentioned fields.

Is Bitcoin More Trusted than Libra in U.S.?

According to new surveys that have been conducted in U.S., the people of this country trust Libra less than they trust Bitcoin. One of the reasons for this is the scandal of Facebook about leaking the users’ data to a research and advertisement company which took place during the U.S. presidency election. Although the distrust of the American people to a company like Facebook after the mentioned scandal is completely natural, but it should be accepted that currently, none of the surveys proposed about the cryptocurrencies are that reliable.

What is the reason for this? Why can’t such surveys be trusted? The truth is that currently, few number of those people who talk about the field of cryptocurrencies and participate in the survey, actually use cryptocurrencies and even fewer number of them have actually purposefully invested in such markets. In such condition, their views regarding the enthusiasm or the lack thereof regarding a cryptocurrency that has not yet entered the market cannot be counted on, and the views about this crypto are only accompanied by feelings whose manipulation is easily done through advertisement and marketing.