Barclays: ‘Facebook Coin’ to bring in $19 billion by 2021

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Quote from: mirawantirinjana on April 28, 2019, 12:48:22 AM

I don't think about what Facebook will do if they really create their own cryptocurrency.
some time ago Facebook has banned advertising related to cryptocurrencies on their platforms. but now they will create a cryptocurrency and join in it, what more drama will this big company do?

Facebook have many advantages if creating their own cryptocurrency. With large numbers of members, they can create their own marketplace and to transaction between members, should using facebook coin. Its great opportunity for facebook to create their own value beside as social media

playboy654

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Yes this can be easy for them because they are not like the normal company and normal product development company there will be more concentration on the promotions so they can do anything that they want if it was successful then it also one of the important investment in this field.

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After realizing that cryptocurrency is really profitable, they've changed their mind and also planning to create "Facebook coin". Actually, they already raised a fund of $1billion on this project and I do not think that the $19 billion revenue is really true. This is just a FUD to attract more investors

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Quote from: mirawantirinjana on April 28, 2019, 12:48:22 AM

I don't think about what Facebook will do if they really create their own cryptocurrency.
some time ago Facebook has banned advertising related to cryptocurrencies on their platforms. but now they will create a cryptocurrency and join in it, what more drama will this big company do?

They will join because there is so much money to be made that's why they are eager to have their own tokens. It's business anyways, so don't be surprised by the sudden turn around from Mark. He pretty much hire some of the best brains to create and market his tokens in the next coming years.

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Quote from: mirawantirinjana on April 28, 2019, 12:48:22 AM

I don't think about what Facebook will do if they really create their own cryptocurrency.

i think they will create thier own crypto because they want to earn more profit . they think that their coin can easily gain attraction or investors because their platform is big and verry popular .

Quote from: mirawantirinjana on April 28, 2019, 12:48:22 AM

some time ago Facebook has banned advertising related to cryptocurrencies on their platforms. but now they will create a cryptocurrency and join in it, what more drama will this big company do?

the reason why they ban crypto is because they are jelous with other cryptos . they dont want these cryptos to become popular becuase they are already planning thier own coin . i cannot think of other possible scenarios that may happen after this . maybe this is the last drama that facebook will do .

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I don't think about what Facebook will do if they really create their own cryptocurrency.
some time ago Facebook has banned advertising related to cryptocurrencies on their platforms. but now they will create a cryptocurrency and join in it, what more drama will this big company do?

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Quote from: Oceat on April 19, 2019, 04:49:43 PM

Quote from: Cosbycoin on April 19, 2019, 03:28:59 PM

Quote from: joniboini on March 14, 2019, 01:11:59 AM

Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.

$19 billion, if that's really happening, then is just a waste of money.

This is the question i have been asking for some few months now and no one have been able to give me a direct answer to this question, for the fact that facebook is creating a digital coin doesn't mean that it would be blockchain related, and i haven't seen anywhere were it is being stated that the coin to be created will be on the blockchain, may question is that, is there anyone here that knows if the coin is going to be a centralized coin or decentralized coin.

I've read some news before that it will be just a payment system money and it would not act as a cryptocurrency just like the altcoins that we have. But if Binance can make BNB then facebook can do it too but they are not an exchanges just like Binance. So that news about of payment system might be true using facebook coin just like PayPal.

It would really be just like that and heck why comparing BNB to Facebook coin? The platform haven't still being announced yet if FB coin would use up some sort of traditional e-currency system or would use up some
cryptocurrency platforms as of this moment?

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Quote from: jjjfff on April 18, 2019, 10:35:24 AM

A centralized token run by a corporation. How is this different from buying an ad voucher from Facebook?

It's essentially a clever way to get cheap funding from those who buy the initial launch in cash.

It isn't. Also, Facebook is under increasing pressure from regulators everywhere due to the crap they host on their platform. So I doubt very much that a coin they issued would be successful. It's not like people trust them or anything.

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Quote from: avikz on March 14, 2019, 03:27:18 AM

Quote from: Unblock_news on March 13, 2019, 09:25:44 PM

A Barclays analyst said that Facebook’s digital coin would provide the social network platform a “lifeline” if investments stop flowing in.

Full article here: https://www.unblock.news/news/barclays-facebook-coin-to-bring-in-19-billion-by-2021

LOL!! I thank you for saying it as a "Digital coin" and not a "Cryptocurrency" because it is not a crypto. It is probably going to be a worldwide currency which is centralized to the core. And it is a proven fact that Facebook tracks your data, so you won't be able to hide your wealth! In a nutshell, it is going to be another digital currency system with Government-grade surveillance! No matter whatever facility they bring in along with this digital coin and no matter how flexible they make it, you can't just get the same features that a trustless network provides!

We can definitely say it is a cryptocurrency. It may be a centralized cryptocurrency. Crypto doesn't mean it is decentralized. Please read how crypto and hash mechanism work.

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Quote from: coinluisa on April 19, 2019, 06:29:07 PM

Quote from: joniboini on March 14, 2019, 01:11:59 AM

Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.

$19 billion, if that's really happening, then is just a waste of money.

That's true facebook don't need blockchain they can do it even without blockchain. I wonder why they need to do this? They made the Facebook without blockchain and as we can see their platform is successful and millions are using their apps around the world so I think they not need to make a Facebook coin.

They need this coin to be competitive in the current hype of crypto. If they will not have their own coin, it's like they are being left behind by technology, considering that they are the front liners of digital age. It will be interesting to know what's gonna be for fb coin once it is launched in their platform.

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What a fearless forecast coming from him, for me he is overestimating it but it's his opinion in which we can't do anything about it. But well, FB is a very big cimpany and advertising what they want to is not a problem at all thus making their own coin successful is in reach of their hands for sure. I just wonder why they are planning to enter this kind of thing? Are they not satisfied with the large revenue they can generate? I think so and that's natural, I understand that when it comes to business you should adopt on the latest trends to keep on surviving.

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Quote from: joniboini on March 14, 2019, 01:11:59 AM

Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.

$19 billion, if that's really happening, then is just a waste of money.

That's true facebook don't need blockchain they can do it even without blockchain. I wonder why they need to do this? They made the Facebook without blockchain and as we can see their platform is successful and millions are using their apps around the world so I think they not need to make a Facebook coin.

daarul50

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I think if Facebook wants to make a coin they don't have to use networks like Bitcoin and Altcoin that currently exist, they simply use the center of the platform to store transaction data. $19 billion is not a little money. I think this will only waste our money to invest in.

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Quote from: Cosbycoin on April 19, 2019, 03:28:59 PM

Quote from: joniboini on March 14, 2019, 01:11:59 AM

Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.

$19 billion, if that's really happening, then is just a waste of money.

This is the question i have been asking for some few months now and no one have been able to give me a direct answer to this question, for the fact that facebook is creating a digital coin doesn't mean that it would be blockchain related, and i haven't seen anywhere were it is being stated that the coin to be created will be on the blockchain, may question is that, is there anyone here that knows if the coin is going to be a centralized coin or decentralized coin.

I've read some news before that it will be just a payment system money and it would not act as a cryptocurrency just like the altcoins that we have. But if Binance can make BNB then facebook can do it too but they are not an exchanges just like Binance. So that news about of payment system might be true using facebook coin just like PayPal.

hahay

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Not surprisingly, this digital coin really makes the business sector continue to make innovations that will make it easier for users to transact faster and of course more efficient to use digital coins which means cryptocurrency is indeed the main thing about this. Facebook is a large social network that certainly has many advantages if these digital coins are successfully implemented, because so far the buying and selling transactions on social networks using digital money is growing and for business entrepreneurs of course this is a very good opportunity.

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This is 19 billion for Facebook itself, not anyone else. It's a way for the company to increase its value (and so shareholders dividends) but don't expect it to be the type of coin with an ICO, or a coin you can hold and wait for the price to rise to resell. It will remain a simple stable coin fixed on the dollar's price, and which may not even use cryptography.

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I have a feeling that Facebook is going to end up going the way of Myspace in the next few years. There are so many scandals hitting it at the moment and Mark Zuckerberg seems like a real scumbag. I'm not even sure why they would go the route of making a cryptocurrency, because they would benefit more by using established payment processors and negotiating a cut. I guess it traps people into the facebook ecosystem and that is the only goal.

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Quote from: Unblock_news on March 13, 2019, 09:25:44 PM

A Barclays analyst said that Facebook’s digital coin would provide the social network platform a “lifeline” if investments stop flowing in.

Full article here: https://www.unblock.news/news/barclays-facebook-coin-to-bring-in-19-billion-by-2021

I simply think its dumb that facebook is creating a cryptocurrency, and it is even more dumb that people are supporting it, it is just an attempt to make more money than they make now, the concept of making facebook a market place where people use the facebook coin to buy things is not good, like who buys things from people posting on facebook no one, however it will be and it is an interesting example ot see how will a well established company getting into cryptocurrency will affect the whole market, will it other companies do the same or will it die, only time will tell.

usorin

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Quote from: Unblock_news on March 13, 2019, 09:25:44 PM

A Barclays analyst said that Facebook’s digital coin would provide the social network platform a “lifeline” if investments stop flowing in.

Full article here: https://www.unblock.news/news/barclays-facebook-coin-to-bring-in-19-billion-by-2021

No argue about that but, there is always a but, the imigy of facebook has been denegrated becvause of theyur data safety policy. Lately there was a news that the platform collected data from p[ersonal mail of the users... not many people will trust in their product.

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Quote from: joniboini on March 14, 2019, 01:11:59 AM

Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.

$19 billion, if that's really happening, then is just a waste of money.

This is the question i have been asking for some few months now and no one have been able to give me a direct answer to this question, for the fact that facebook is creating a digital coin doesn't mean that it would be blockchain related, and i haven't seen anywhere were it is being stated that the coin to be created will be on the blockchain, may question is that, is there anyone here that knows if the coin is going to be a centralized coin or decentralized coin.

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Quote from: viralmetaphore on April 18, 2019, 11:55:57 AM

Facebook do not respect your privacy and they are planning some "Facebook Coin" under blockchain technology what's this ? Roll Eyes

Money raising for their other project they'll conduct.

And with the use of facebook coin, they can sustain the budget of that project. While people will be hype on this because it is facebook, they don't care about data privacy.

viralmetaphore

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Facebook do not respect your privacy and they are planning some "Facebook Coin" under blockchain technology what's this ? Roll Eyes

jjjfff

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A centralized token run by a corporation. How is this different from buying an ad voucher from Facebook?

It's essentially a clever way to get cheap funding from those who buy the initial launch in cash.

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Quote from: Vishnu.Reang on April 18, 2019, 09:54:07 AM

Quote from: Bitcoin-Turkiye on March 15, 2019, 01:26:40 PM

now i buying facebook stock. but how do we get this facebook coin when? Frankly, I don't trust Mark Zuckerberg. how can I trust a person who sells people's data? they will inflate the price of facebookcoin themselves. The goal is to collect all people's money...

Buying the Facebook stock may not be a wise decision now. I will tell you what I think. Facebook has reached its saturation point and many of its users are shifting to other channels such as Reddit and Insta. I am afraid that FB will eventually end up like Orkut.

Facebook owns Instagram and they end up buying any other platform that threatens their dominance. Facebook has become too powerful and can be considered a monopoly.

I have gotten sick of Reddit because of the over censorship and the paid trolls that have infested that platform.

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Quote from: Unblock_news on March 13, 2019, 09:25:44 PM

A Barclays analyst said that Facebook’s digital coin would provide the social network platform a “lifeline” if investments stop flowing in.

Full article here: https://www.unblock.news/news/barclays-facebook-coin-to-bring-in-19-billion-by-2021

It absolutely can happen. Facebook is really trying to make the biggest whale in the crypto market and manipulating all coins currently available in crypto market.
With such a huge capital, it will certainly have great power and can change the face of the market. This can be both bad news and good news.

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Quote from: joniboini on March 14, 2019, 01:11:59 AM

Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.

$19 billion, if that's really happening, then is just a waste of money.

Yeah I think of it the same way also. How could facebook integrate cryptocurrency system when in fact facebook has already earning on its plarform. Those who made this story just want facebook to create a digital coin for their own interest. Facebook will not allow any shares from thw crypto investors on their profit. If they will really create a digital coin then it is not for the good of facebook platform but for the huge whles that will going to invest on it and take a share on facebook platform earnings.

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Quote from: Bitcoin-Turkiye on March 15, 2019, 01:26:40 PM

now i buying facebook stock. but how do we get this facebook coin when? Frankly, I don't trust Mark Zuckerberg. how can I trust a person who sells people's data? they will inflate the price of facebookcoin themselves. The goal is to collect all people's money...

Buying the Facebook stock may not be a wise decision now. I will tell you what I think. Facebook has reached its saturation point and many of its users are shifting to other channels such as Reddit and Insta. I am afraid that FB will eventually end up like Orkut.

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Quote from: joniboini on March 14, 2019, 01:11:59 AM

Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.

$19 billion, if that's really happening, then is just a waste of money.

You are right Facebook can created the in platform token with the use of blockchain to accomplishe that, just like the iTunes card and PayPal. But since Facebook is going into crowd founding for this token development they may be looking for other investors and they have to use the smart contract to do that.

samcrypto

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Quote from: pishite on April 02, 2019, 02:28:46 PM

Quote from: Unblock_news on March 13, 2019, 09:25:44 PM

A Barclays analyst said that Facebook’s digital coin would provide the social network platform a “lifeline” if investments stop flowing in.

Full article here: https://www.unblock.news/news/barclays-facebook-coin-to-bring-in-19-billion-by-2021

Investments and so they get. Simply, the development of cryptocurrency is going fast. And they are trying to create their own altcoin than not the company's shares, but without affecting its development.

Looks like cryptocurrency will be the life saviour for facebook since its stock market price are slowly declining. Well, 2021 is quiet a late year for development because bitcoin will be more expensive that time and it can be a little too late for facebook to adopt. This can also be a rumor so stay neutral.

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Quote from: Pab on April 05, 2019, 02:16:23 PM

Timing is perfect.Whatever if that coin will be available on exchanges than cryptcurrencies market will be few bilion bigger

Actually, the timing isn't perfect at all. Most average joes (which is the group they target as social media platform) that got involved with crypto are down a lot, and the last thing they care about is yet another crypto coin.

I can already predict what headline mainstream media outlets will use to attract clicks: 'Facebook coin ignites crypto bull run'. They have zero clue about how no one in crypto gives a damn about Facebook coin.

The only way I can see Facebook contribute is when they will compete with Twitter to also enable LN payments when the time is right, because Jack Dorsey already said that he liked the idea of having an official LN implementation on Twitter.

Pab

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Lets don't forget that Facebook will be owner of that coin
I don't believe that Facebook chain will be fully public and transparent
That Facecoin will be available on best exchanges
I can't believe that coins owner will not like to make some additional money on bitcoin halving
Timing is perfect.Whatever if that coin will be available on exchanges than cryptcurrencies market will be few bilion bigger

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Quote from: daarul50 on March 14, 2019, 03:12:17 PM

If Facebook really uses the blockchain then maybe bitcoin will be eliminated and worse left because everyone will switch to using Facebook coins. I hope if this really happens it can have a positive impact on the development of cryptocurrency even though it endangers the existence of bitcoin in the crypto market.

LOL. I'm sorry but it seems you didn't understand it. Why would it "eliminate" Bitcoin? Well they could be competition, but to eliminate Bitcoin in the market? I doubt. Are you going to switch to Facebook coin if ever they release their own token? Why Facebook is doing is trying to jump the buzz word now, which is 'blockchain'. They can do it and more cost effective if they will just used a centralized database. But since everyone is jumping on the bandwagon, they don't want to be left out and wanted to have their own coin. But it doesn't mean people will invest on them and totally left Bitcoin or crypto ecosystem.

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Quote from: Unblock_news on March 13, 2019, 09:25:44 PM

A Barclays analyst said that Facebook’s digital coin would provide the social network platform a “lifeline” if investments stop flowing in.

Full article here: https://www.unblock.news/news/barclays-facebook-coin-to-bring-in-19-billion-by-2021

Investments and so they get. Simply, the development of cryptocurrency is going fast. And they are trying to create their own altcoin than not the company's shares, but without affecting its development.

TheCoinGrabber

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Jumping into the blockchain hype. Facebook's and Google's operations are the exact opposite of a blockchain - centralized massive data centers. If Facebook goes along with this I suspect they'd just do what has always worked for them.

Quote from: southafricadude on March 14, 2019, 02:22:35 AM

And when facebook goes down...so does your money....or if your account gets closed, your money is gone.

Imagine putting money in it and then your account gets blocked when some mass report you.

Horas1976

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Facebook follows modern technology by establishing its own coin, Mark Zuckerberg does not want to miss the modern development. We will see the struggle and the results after a few years, the idea is good and does not want to lose so that it was created to be able to adjust to the times.

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Quote from: joniboini on March 14, 2019, 01:11:59 AM

Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.

$19 billion, if that's really happening, then is just a waste of money.

Maybe they will make it usable outside of Facebook or make it trustless, with a little bit of anonymity or make it tradable on cryptocurrency exchange? Who knows?

Bitcoin-Turkiye

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now i buying facebook stock. but how do we get this facebook coin when? Frankly, I don't trust Mark Zuckerberg. how can I trust a person who sells people's data? they will inflate the price of facebookcoin themselves. The goal is to collect all people's money...

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Quote from: TheCoinGrabber on March 15, 2019, 09:52:08 AM

Just riding the blockchain "hype" like many others. All the folks just keep throwing the word "blockchain" to sound hip.

They just wanted more money. Their business don't need a blockchain since it operates well enough on the Big Data style like Google.

Facebook is a big network, and as stated already they've got the biggest market on the big data style same as the top corporates holding largest data. When things gets advanced they too tend to go advanced. Blockchain is more efficient than traditional system which might be the reason for the plan of using blockchain. The coin from Facebook will grow big as they've a big user community.

TheCoinGrabber

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Just riding the blockchain "hype" like many others. All the folks just keep throwing the word "blockchain" to sound hip.

They just wanted more money. Their business don't need a blockchain since it operates well enough on the Big Data style like Google.

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Quote from: joniboini on March 14, 2019, 01:11:59 AM

Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.

$19 billion, if that's really happening, then is just a waste of money.

It surely is and it won't ever be the same with Bitcoin at all considering Facebook has kept all the information and is selling it to advertisers for their own. And $19 billion is a big money, but it won't be that impossible since people are into hype and people will always come in with these kinds.

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Quote from: Mometaskers on March 15, 2019, 06:15:04 AM

Well they should be worried that investments might dry up, especially after that scandal. It seems it's just us in 3rd world that are still heavy FB users.

Can you backed that up? There are still a lot of FB users among 1st world country.

Quote from: Mometaskers on March 15, 2019, 06:15:04 AM

They might persuade some people to buy in just coz of brand name but I don't see anything innovative about it.

Having the brand name will get the coin a lot of big investors, this is a legit move of FB to gain more money. We all know that if you release a coin its hard to get some investors but with FB`s coin that wont be a problem for them.

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Quote from: Mometaskers on March 15, 2019, 06:15:04 AM

Well they should be worried that investments might dry up, especially after that scandal. It seems it's just us in 3rd world that are still heavy FB users.

They might persuade some people to buy in just coz of brand name but I don't see anything innovative about it.

Facebook is heavily used in all countries if you count every other platform Facebook owns as well. There for sure isn't anything innovative about it but people will buy it because of the brand. People love buying digital goods that are everywhere in modern video games so this will be no different.

Mometaskers

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Well they should be worried that investments might dry up, especially after that scandal. It seems it's just us in 3rd world that are still heavy FB users.

They might persuade some people to buy in just coz of brand name but I don't see anything innovative about it.

rhomelmabini

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Well, let's wait for 2021 and if it happen or not just two scenarios will be possible and that's massive adoption on the coin if it's really a coin but I say it will be more as a token type.

Imagine, Facebook is known worldwide and just introducing it whenever you open their app or wherever browser you use to login, but per say it is only a hype with MZ makes to look he's not behind.

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Why would Facebook need a coin to save it? The stocks are doing well. The platform is doing well. People who hate it have already left it. Those who don't care are still on it. So why are they so worried, right? Mark should just retire and stop bringing his own creation down.

Facebook coin will be like play coins. They might bring in millions but for sure not 19 Billion.

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It seems to me that the Facebook management just decided to support the HYIP, which is now around cryptocurrency. Pavel Durov creates his TON, many other companies declare the integration of the blockchain into their work. It is possible that the Facebook management just decided not to lag behind competitors and are considering the possibility of introducing the blockchain where it would be appropriate. Personally, I don’t like Facebook either because of their company policy and because they disclose personal user data. But unfortunately, while the world has no competitors in Facebook.

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Quote from: livingfree on March 14, 2019, 01:42:23 AM

"IF" investments stop flowing in.

When do you expect that investments will stop flowing?

Facebook coin is becoming overhype just because it is 'facebook' but if comparing with the other coins they don't have much difference. Facebook should should focus with blockchain integration of their platform through bitcoin instead of creating another altcoin.

Comparing Facebook coin with other coins actually has a lot big difference, hardly do you see where Facebook is not known, even to the most uncivilized countries, Facebook platform is just like GSM phone now that virtually everyone has and the introduction of their coincould be an eye opener for many people to the world of Cryptocurrency provided it comes in form of crypto.

It is really a welcomed development and This step from Facebook will not only make Facebook coin more accepted than other coins but also make bitcoin more popular.

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Quote from: daarul50 on March 14, 2019, 03:12:17 PM

If Facebook really uses the blockchain then maybe bitcoin will be eliminated and worse left because everyone will switch to using Facebook coins. I hope if this really happens it can have a positive impact on the development of cryptocurrency even though it endangers the existence of bitcoin in the crypto market.

Is it true that if Facebook coins exist, will it have a negative impact on Bitcoin? what is your reason so you say that if a born facebook coin can get rid of Bitcoin?
whereas Bitcoin is the first Cryptocurrency that makes everyone want to make a new coin that mimics Bitcoin.

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All waiting for the Facebook Coin except me. I already represent this vulnerable and controlled coin by 3rd persons. Just a horror

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If Facebook really uses the blockchain then maybe bitcoin will be eliminated and worse left because everyone will switch to using Facebook coins. I hope if this really happens it can have a positive impact on the development of cryptocurrency even though it endangers the existence of bitcoin in the crypto market.

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Quote from: avikz on March 14, 2019, 03:27:18 AM

Quote from: Unblock_news on March 13, 2019, 09:25:44 PM

A Barclays analyst said that Facebook’s digital coin would provide the social network platform a “lifeline” if investments stop flowing in.

Full article here: https://www.unblock.news/news/barclays-facebook-coin-to-bring-in-19-billion-by-2021

LOL!! I thank you for saying it as a "Digital coin" and not a "Cryptocurrency" because it is not a crypto. It is probably going to be a worldwide currency which is centralized to the core. And it is a proven fact that Facebook tracks your data, so you won't be able to hide your wealth! In a nutshell, it is going to be another digital currency system with Government-grade surveillance! No matter whatever facility they bring in along with this digital coin and no matter how flexible they make it, you can't just get the same features that a trustless network provides!

Yeah, it probably should not be called crypto, since its value will be tied to various fiat currencies (so not even a typical stable coin). The article does call it 'digital coin' in the article a couple of times, though. However, Facebook is likely to use blockchain for their coin which makes it harder to choose an appropriate definition. Yes, it's centralized and its value is not determined by the free market, but if it uses cryptography it should perhaps be called 'cryptographic digital currency' to distinguish it from stuff like PayPal.

BitBustah

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Quote from: joniboini on March 14, 2019, 01:11:59 AM

Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.

$19 billion, if that's really happening, then is just a waste of money.

Exactly, blockchain serves no purpose for Facebook except ofr hype. They are trying to capitalize on the success of bitcoin. This will most likely be something similar to Reddit Gold which has no actual monetary value.

The Sceptical Chymist

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Quote from: joniboini on March 14, 2019, 01:11:59 AM

Overhyped. Facebook doesn't need to use blockchain for this.

Some of that article is Greek to me, since I don't use social media and don't really know what Whatsapp is, which they said was critical in the FB coin's success--but I tend to agree with you. It seems to have a whiff of desperation about it, and that's not surprising since Facebook's stock took a serious beating a few months ago. Whatever transactions they're doing with Whatsapp or Google Play could probably be done just as easily with fiat (or bitcoin or any of the hundreds of other cryptos in existence), and a FB coin just seems redundant to me.

I can't stand them anyway, and not an insignificant part of me hopes this coin falls flat on its face and that their stock price drops even further as a result of its failure. It's gotten to the point where I don't know which company is more evil, FB or Google. Anyway, they appear to be jumping on the crypto bandwagon in name only, and far too late IMO.

BrewMaster

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there is absolutely no reason why a social media company like Facebook would want to create a cryptocurrency and there is absolutely no reason for anybody to buy or use that cryptocurrency or better be called centralized token.

if it gains any value and if people invest in it, they would only do it as an investment in the "name of the company" as they would when they buy the shares of Facebook company on stock market.

Kevin77

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Quote from: Unblock_news on March 13, 2019, 09:25:44 PM

A Barclays analyst said that Facebook’s digital coin would provide the social network platform a “lifeline” if investments stop flowing in.

Full article here: https://www.unblock.news/news/barclays-facebook-coin-to-bring-in-19-billion-by-2021

There is no f**king way it brings in NEW 19 billion dollars. First of all its not happening at all, it is not going to happen the way any of these news tells us it will happen. It will at best be a facebook coin that you can spend on stuff like advertisement and purchasing game fremium stuff and all that, nothing like actually be a shareholder of facebook or sorts, facebook is already on public and you can already buy facebook stocks so it won't be allowed to actually be a part owner of facebook thanks to the facebook coin.

So, what do you do with a facebook advertisement and fremium purchase coin aside from actually using it for those things ? Nothing. Hence, it can't be 19 billion dollars to the company, it could be 19 billion dollars spend that used to be dollars but now facebook coin but it won't be a new 19 billion dollars.

incomefromcoins

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facebook coin is more or less a stable coin which is using for internal trading same like jp morgan coin so any financial institutions

Naida_BR

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The blockchain technology is not needed so this digitalization of facebook attempt.
I think that these websites are only trying to create a FOMO trend with these news. "Facebook coin" is not needed to be built on the blockchain. After all, it will be a centralized digital coin that will be used only for the operations in the apps that Facebook owns.

avikz

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Quote from: Unblock_news on March 13, 2019, 09:25:44 PM

A Barclays analyst said that Facebook’s digital coin would provide the social network platform a “lifeline” if investments stop flowing in.

Full article here: https://www.unblock.news/news/barclays-facebook-coin-to-bring-in-19-billion-by-2021

LOL!! I thank you for saying it as a "Digital coin" and not a "Cryptocurrency" because it is not a crypto. It is probably going to be a worldwide currency which is centralized to the core. And it is a proven fact that Facebook tracks your data, so you won't be able to hide your wealth! In a nutshell, it is going to be another digital currency system with Government-grade surveillance! No matter whatever facility they bring in along with this digital coin and no matter how flexible they make it, you can't just get the same features that a trustless network provides!

southafricadude

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And when facebook goes down...so does your money....or if your account gets closed, your money is gone.

CryptopreneurBrainboss

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The only thing the blockchain technology will benefit from Facebook coins is their help in spreading the news about blockchain technology to their billions of online users. I see no benefits in their tokens what's the utility of the token going to be? To me it is just another act of greediness and waste of money. We have numerous coins already why not just adopt or buy the company of one than introducing another shitcoin until the market.

livingfree

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"IF" investments stop flowing in.

When do you expect that investments will stop flowing?

Facebook coin is becoming overhype just because it is 'facebook' but if comparing with the other coins they don't have much difference. Facebook should should focus with blockchain integration of their platform through bitcoin instead of creating another altcoin.

hugeblack

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Quote from: https://www.unblock.news/news/barclays-facebook-coin-to-bring-in-19-billion-by-2021

The said cryptocurrency would allow users to make direct transactions, and will be tied to the value of fiat currencies.

The correct expression of it will be a digital currency rather than a cryptocurrency, and it will bring more revenue but will not differ greatly from the idea of being stock.

As for the people will not get something from HODLing it because it will remain constant value for long periods and may not resort to Facebook to manipulate the price.
Yesterday, Facebook suffered from an interruption in service for a long time so I do not expect their currency to be a real competitor to Bitcoin.

Quote from: https://twitter.com/facebook/status/1105888649676111877

We’re aware that some people are currently having trouble accessing the Facebook family of apps. We’re working to resolve the issue as soon as possible.

joniboini

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Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.

$19 billion, if that's really happening, then is just a waste of money.

Unblock_news

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A Barclays analyst said that Facebook’s digital coin would provide the social network platform a “lifeline” if investments stop flowing in.

Full article here: https://www.unblock.news/news/barclays-facebook-coin-to-bring-in-19-billion-by-2021

Topic: Barclays: ‘Facebook Coin’ to bring in $19 billion by 2021 (Read 697 times)