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Facebook might be a healthy competition between decentralized currencies, but it should not be compared to existing cryptos like
BTC, ETH, LTC and etc, while its focusing and has large threat to banks or even central banks itself.
With its centralized service Facebook will stand against more centralized financial institutions. Bitcoin, ethereum and most of the top altcoins were on a separate track compared to the plan from Facebook on its digital currency.
Already Facebook have some issues with the privacy data leak. So, to gain trust it is supposed to fulfill by overcoming the past bad image it has acquired.