Facebook Plans Controversial Innovations in Yet Another Industry

It is hard to remember life without Facebook and its hand in growing the popularity of social media.  Since Facebook was founded in 2004, it has become instrumental in fostering interpersonal and digital connections.  The major company has taken control of Instagram, which is also increasingly popular for social media users to share photos.  Facebook, as mentioned by a Genesis Mining Review, has footholds in digital messaging with WhatsApp and Facebook Messaging, virtual reality with Oculus, artificial intelligence work conducted by AI Research and more.  Facebook has received tremendous backlash on various topics from privacy to censorship concerns.  Now, Facebook plans to reveal its own cryptocurrency, which it has coined with the name “Libra.”

Along with bitcoin and other forms of cryptocurrency, Facebook announced that it is working on releasing Libra in 2020.  A Genesis Mining Review shares that the public’s reaction to the reveal has not been supportive, and many are more concerned with Facebook correcting its current system downfalls.  The motive behind the creation of Libra is for more people to have access to a financial system without using a traditional bank account.  Libra, similar to Venmo and other transaction applications, would allow individuals to send and receive currency digitally.  One Genesis Mining Review notes that Libra would be connected to assets in the real world, which makes it stand out from other cryptocurrencies like Bitcoin.  Facebook’s cryptocurrency would operate entirely online, which some believe is a convenient way to maintain finances.  However, while more technologically advanced banking, such as Apple Pay and online banking, is becoming more popular, cryptocurrency is not. 

Current forms of cryptocurrency are not well known, and their advertisements have even been blocked on major websites like YouTube.  Some speculate if Libra would become popular because of its promised presence on Instagram and other Facebook-owned social media platforms.  Numerous politicians agree that, based on Facebook’s track record of poor privacy regulations, Libra could be dangerous to individuals’ financial portfolios.  Others argue that Libra will not be popular because it will not be immediately accepted everywhere.  With the New Year just beginning, there may be a stronger focus on the rise of cryptocurrency in the new decade.

YouTube Battles Bitcoin

Google’s reach spreads into the far corners of society, from search engines to Pixel cell phones.  Now, Google plans on creating its own banking system, called Cache.  The powerful company’s goal is to make banking more digital and convenient for individuals.  Almost every technology-owning citizen is familiar with tech giants like Google, Apple and Amazon, so new innovations rolled out by these companies, like Apple’s credit card, have immediate interest, especially because they function so smoothly with popular devices.  A Genesis Mining Review notes that because Google plans to permeate the banking industry, the company has focused on battling bitcoin on its YouTube site. 

Makers of bitcoin and other forms of cryptocurrency have attempted to revolutionize the financial industry and ways in which people bank.  However, with major companies creating their own banking systems, paired with cryptocurrency features and a big-name company label, bitcoin is being railroaded.  First, YouTube blocked any advertisements focused on cryptocurrency.  Now, numerous cryptocurrency-related videos posted on YouTube have been blocked from the website.  Many individuals are at a loss because of the ban, and YouTube claims that it was a system malfunction.  One Genesis Mining Review notes the relevance and importance of bitcoin to many users, and for their videos to be removed from YouTube devastates the community.  Most of the cryptocurrency videos posted by well known entities, such as CNBC, were not taken down, but rather those by private individuals, which leaves many people questioning the company’s motives.

Many bitcoin users feel this is a huge hit to the cryptocurrency industry.  YouTube allows viewers to learn more about bitcoin and understand how to be involved in the cryptocurrency arena.  Without the videos, bitcoin advocates think that individuals will be discouraged from entering the industry.  Some believe that for bitcoin to remain relevant, it must relate more to the average user and be more accessible.  As one Genesis Mining Review implies, cryptocurrency is still popular, but its popularity may decrease because of a lack of social media presence.  Certain users argue that if Bitcoin creates a social media platform, it may bring more attention to the currency.  Social media has become a main channel for news stories, and with cryptocurrency more present on social media, bitcoin could remain a competitor among newer forms of banking.

Positive Genesis Mining Review will Reveal Cryptocurrency’s New Horizons

It wasn’t all that long ago when cryptocurrency came out of the shadows and into the mainstream. The initial hurdles to understanding a form of money that doesn’t exist in our physical world were, to put it lightly, steep. In a November 2019 article from GQ magazine, the here-to-stay situation that cryptocurrency now finds itself in is explored. To those who’ll read this article with great interest and then turn to a Genesis Mining review for more information, there’s never been a better time to get up-to-speed on the latest in cryptocurrency markets. In this article, we’ll explore some of the perks of Bitcoin, which is just one of a handful of crypto coin types, as well as reasons why working with a “cloudmining” company could be best for the hands-off miners among us.

The sheer idea of cryptocurrency appeals to a very distinct group of investors. First and foremost, the fact that there is a finite amount of these digital “coins” just waiting to be mined through blockchain technology means that value is inherent. The lack of any sort of central bank to regulate the coins is another fact that resonates among those who’ve read a Genesis Mining review and are looking to get into the sector. Those who saw their investments wiped out during the 2008 global recession are another group who tend to invest in Bitcoin and other digital cryptocurrencies with excitement, as “your coin is your coin, and no American, Swiss, or Venezuelan government can mess with it.”

While it’s possible to plunk down cash in exchange for Bitcoin, it’s the mining that keeps the coins coming in. As a positive Genesis Mining review will show, many have opted to outsource the resource-heavy mining to already-established companies with high-tech computer rigs dedicated to this purpose. For the average consumer to invest in the same level of tech and run a datacenter with similar capabilities, the profits coming from cryptocurrency investing would be sharply slashed.

The GQ article alludes to this era of cryptocurrency as being like the “Wild West” in early America; the rules haven’t solidified yet and everyone is trying to make as many gains as possible. Today, it’s possible to spend Bitcoin at Whole Foods and Starbucks is eyeing a foray into the field. It’s certain that someone from those two companies did their homework and readers who want to know why cloudmining is an easy option should check out a Genesis Mining review. Leave the heavy lifting to those with an established footprint and the market swings should prove profitable.