Ever since Facebook, the world’s leading social media platform decided to entertain the idea of creating a token/cryptocurrency/stable coin/?... called the GlobalCoin/LibraCoin/Calibra/?... CEO Mark Zuckerburg has been receiving plenty of backlash from all fields of society alike.
Broadcaster Max keiser completely disrespected Zuckerberg by calling him a “useful idiot” who will boost the price of Bitcoin. Andreas Antonopoulos the man known as Bitcoin Evangelist came down on Facebook's ongoing attempt at a crypto project revealing that the Libra doesn’t amount to a real blockchain. While Phil Chen the Decentralized Chief Officer at HTC was quoted saying that the “project is the antithesis of Bitcoin and is another step towards total control of data and users”.
With so much negative criticism about the project, it seems that the only way for Zuckerberg to save face is for his project to be a complete and total transparent success. I personally will not give a social media platform that has been found to be untrustworthy this much access to my finances and personal information; however, I am interested to see how many people will be willing to trust Facebook and its partners with their personal banking information because Facebook is already in a negative light due to them storing and using user information for monetary gain. I’m also very interested to see what Facebook and its many partners like Visa and Mastercard will do with this amount of personal and financial data from consumers.
Despite the criticism and skepticism surrounding Facebook and it’s Libra coin/token Bitcoin went up when Facebook first announced that they were entering the crypto scene so as Zuckerburg and Facebook trudge on through the criticism and skepticism hopefully all of the attention on the cryptosphere whether it be negative or positive will continue to positively impact Bitcoin. As of today, Bitcoin is at $11,900 so it can use all the boosts it can get to make it back to the high of last months $13k. Upward Bitcoin Upward.