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RE: Is Facebook Cryptocurrency A Threat to Bitcoin (BTC)?
No, from my understanding Facebook's coin will be a stablecoin.
It'll be their way of resolving region issues when it comes to people sending money through facebook.
For instance: I, living in America, cannot send fiat to my brother in Australia because Facebook doesnt have a bank account in australia on which to send him the converted funds.
It is a horrible road block, and Western union get around this by charging insane fees.
If I can buy FaceCoin in America with usd and send it to my brother who then sells it for AUD... this roadblock is avoided. He can sell it on a marketplace for fiat and pay an under 1% trade fee.
Facebook's coin helps facebook, it doesn't hurt or threaten anything really
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