Can using Minoxidil on my beard cause permanent hair loss?

I've been using 5% foam on my beard for few months now, no side effects so far. Someone on reddit said this and was wondering if its true, saying his dad was one of the people who developed Minoxidil. So once I stop Minoxidil I could lose my beard and scalp hair even though I only apply it to my beard? And can Minoxidil use cause wrinkles? Thanks!