Max Keiser, a well-known Bitcoin expert, has predicted that Ripple and a majority of other digital currencies will be destroyed by GlobalCoin, the yet-to-be-launched cryptocurrency by the social network giant Facebook. However, the only crypto which will survive will be Bitcoin, believes Keiser strongly.\r\n\r\nContinuing further, Keiser stated that while GlobalCoin will make altcoins irrelevant, it will eventually boost the prices of Bitcoin to a considerable extent. That\u2019s because Bitcoin doesn\u2019t compete with fiat currency but gold. Moreover, the entities involved in remittance and payments to leveraging digital currencies will also be annihilated.\r\n\r\nKeiser expressed these strong opinions through his micro-blogging handle on 7th June 2019.\r\n\r\nhttps:\/\/twitter.com\/maxkeiser\/status\/1137000955944284161\r\nHow Facebook\u2019s Coin will help Bitcoin but destroy XRP:\r\nGlobalCoin has created a buzz ever since its announcement. The plus point about Facebook\u2019s crypto, as said by the company, is that its purpose is to offer hassle-free peer-to-peer payment services as well as other microtransactions.\r\n\r\nThat would directly place Facebook\u2019s coin in competition with altcoins such as LTC (Litecoin) and Ripple\u2019s crypto XRP. Both of these cryptos are renowned for their offering of cheap and quick transactions. Other than Ripple and Litecoin, this niche is also claimed by companies like BitPay, which is into cryptocurrency-based payments.\r\n\r\nIn addition, the recent revelation by Facebook that they are going to peg its crypto GlobalCoin to more than one currency without solely focusing on the United States Dollars will also make the road a bit tougher for altcoins.\r\nThe plan Facebook has in mind:\r\nApparently, Facebook is going to specifically target developing nations which have domestic currencies of volatile nature. Zimbabwe or Venezuela, for instance. Additionally, there is also a buzz that the company\u2019s crypto would be made available through Messenger and WhatsApp as well other than its primary social platform.\r\n\r\nThe reason for targeting developing nations is probably to boost the company\u2019s profits in some of the world\u2019s poorer regions which despite having an increasingly rising user base experience low ARPU, short for average revenue per user. Also, the developing nations offer more growth opportunities in terms of remittances and payments due to the relatively underdeveloped economy.\r\n\r\nIt must be noted here that Facebook had already launched its p2p payment function in its Messenger, which is considered a flop, particularly in Europe. Buzz has it that the company is about to draw curtains on this particular service in the UK as well as in France.\r\n\r\nFacebook will be releasing its anticipated GlobalCoin in 2020.