Facebook Bank - page 2. | Bitcointalksearch.org

Yakamoto

legendary

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Quote from: cbeast on June 16, 2014, 03:50:47 PM

This might be the mistake that kills facebook. Even Google is playing it careful with money.

This probably will be the mistake.

Facebook is going "Gung Ho!" And thinking they can make a ton of money off of this system, since they thing they can do whatever now.

If FB even looked at other technology giants, they may change their ways...

ShakyhandsBTCer

sr. member

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It's Money 2.0| It’s gold for nerds | It's Bitcoin

Quote from: JerryCurlzzz on June 16, 2014, 03:44:36 PM

Quote from: BTCLuke on April 14, 2014, 12:35:47 PM

Apparently Facebook is about to enter the remittance market by opening a financial service out of Ireland:

http://www.pcworld.com/article/2143200/report-facebook-about-to-enter-emoney-market-in-europe.html

Doesn't say in what currency. I'd guess they'll limit to Euros at the start? Very odd.

I imagine this will be for fiat currency. Facebook has a huge network already for this; I don't see a reason why they would include bitcoin.

They would include bitcoin because of less regulation associated with bitcoin then with being a bank and/or paypal like service

cbeast

donator

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Let's talk governance, lipstick, and pigs.

This might be the mistake that kills facebook. Even Google is playing it careful with money.

JerryCurlzzz

hero member

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Quote from: BTCLuke on April 14, 2014, 12:35:47 PM

Apparently Facebook is about to enter the remittance market by opening a financial service out of Ireland:

http://www.pcworld.com/article/2143200/report-facebook-about-to-enter-emoney-market-in-europe.html

Doesn't say in what currency. I'd guess they'll limit to Euros at the start? Very odd.

I imagine this will be for fiat currency. Facebook has a huge network already for this; I don't see a reason why they would include bitcoin.

ArbatDeli

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Quote from: Gimmelfarb on June 15, 2014, 05:31:25 PM

i still don't see a connection between this and crypto. i think they are just trying to take advantage of their large network by entering the remittance market, which is not, to date, especially internet friendly.

There is nothing about crypto here. People are making a connection because crypto could, in theory, be used for remittances.

DannyElfman

sr. member

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I don't think this has a thing to do with bitcoin. Just Facebook news.

Essex343

full member

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Smart on their part. Social networking angle alone won't sustain them. People are getting bored with FB...

logger

member

Activity: 138

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Does this mean I'll finally be able to help a little girl get her operation with likes?

ShakyhandsBTCer

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It's Money 2.0| It’s gold for nerds | It's Bitcoin

Quote from: Gimmelfarb on June 15, 2014, 04:34:43 PM

Quote from: ShakyhandsBTCer on June 15, 2014, 03:22:28 PM

Quote from: Gimmelfarb on June 15, 2014, 01:44:22 AM

interesting plan. i was sort of wondering what direction they might go in. despite the fact that it's still immensely popular, it seems clear that the current model is dying. i wonder how this will go.

I think allowing Facebook to control your bitcoin would be reckless

my understanding was that this was not about bitcoins at all, but rather about Facebook attempting to break into the remittance market. i doubt they would involve bitcoin, to be honest.

Either way it would be too easy for accounts to be hacked (they are already hacked all the time for advertising purposes, can you imagine if there was actual money associated with them)

Gianluca95

legendary

Activity: 1582

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Reputation first.

Facebook bank? lol !

I want to say to Facebook that he must to rise safe parameter and then, he'll can do everything.

Gimmelfarb

hero member

Activity: 658

Merit: 500

i still don't see a connection between this and crypto. i think they are just trying to take advantage of their large network by entering the remittance market, which is not, to date, especially internet friendly.

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: Gimmelfarb on June 15, 2014, 04:34:43 PM

Quote from: ShakyhandsBTCer on June 15, 2014, 03:22:28 PM

Quote from: Gimmelfarb on June 15, 2014, 01:44:22 AM

interesting plan. i was sort of wondering what direction they might go in. despite the fact that it's still immensely popular, it seems clear that the current model is dying. i wonder how this will go.

I think allowing Facebook to control your bitcoin would be reckless

my understanding was that this was not about bitcoins at all, but rather about Facebook attempting to break into the remittance market. i doubt they would involve bitcoin, to be honest.

The worst part about this is that Facebook could make the largest crypto due to the user base behind them. It's quite sad, actually.

Now, on the positive side, as stated, it would help introduce cryptos.

Negatively, however, they'd turn it into a fiat. I can say that right now. It'll MAYBE be backed by FarmVille or whatever else.

Or they'll force people to buy the Oculus Rift with FBCoin.

Gimmelfarb

hero member

Activity: 658

Merit: 500

Quote from: ShakyhandsBTCer on June 15, 2014, 03:22:28 PM

Quote from: Gimmelfarb on June 15, 2014, 01:44:22 AM

interesting plan. i was sort of wondering what direction they might go in. despite the fact that it's still immensely popular, it seems clear that the current model is dying. i wonder how this will go.

I think allowing Facebook to control your bitcoin would be reckless

my understanding was that this was not about bitcoins at all, but rather about Facebook attempting to break into the remittance market. i doubt they would involve bitcoin, to be honest.

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: Asrael999 on April 15, 2014, 10:29:18 AM

Quote from: BTCLuke on April 14, 2014, 05:05:43 PM

Coindesk is talking about it now too:

http://www.coindesk.com/facebooks-mobile-money-plans-may-mean-bitcoin/

As far as I can tell no one sees direct competition to bitcoin, but it will be a good long-term test of centralized systems versus decentralized systems for online currencies.

Still not many details yet.

you don't think they just maybe expand their existing system
https://www.facebook.com/giftcards

facebook credits......

this is bitcoin competition , not adoption , sorry

Competition? Fah. People will be like "What?"

Honestly, Facebook creating a crypto will be a great way to introduce the masses to Crypto's, BUT someone has to hack it. Have the masses use BTC and not FBCoin. Hack the system and wreck it's value, and all non-FBCoin users go away happy.

The first PoP or PoL currency? (Proof of post/Proof of Like?)

Wait that's just benefiting attention seekers. And celebrities...

ShakyhandsBTCer

sr. member

Activity: 448

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It's Money 2.0| It’s gold for nerds | It's Bitcoin

Quote from: Gimmelfarb on June 15, 2014, 01:44:22 AM

interesting plan. i was sort of wondering what direction they might go in. despite the fact that it's still immensely popular, it seems clear that the current model is dying. i wonder how this will go.

I think allowing Facebook to control your bitcoin would be reckless

Gimmelfarb

hero member

Activity: 658

Merit: 500

interesting plan. i was sort of wondering what direction they might go in. despite the fact that it's still immensely popular, it seems clear that the current model is dying. i wonder how this will go.

Zuminest

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Quote from: Bit_Happy on April 15, 2014, 10:55:02 PM

Quote from: counter on April 15, 2014, 04:40:40 PM

If facebook did something silly like make an altcoin I think that would just give more credibility to BTC and would backfire. I don't think that would be there plan but maybe I've over looked somthing.

Thanks for the Article OP, always appreciated.

Haven't you heard about FaceCoin?
It's official now: Cheesy

Thats a big forehead you got there. Heh. I bet it's worth a fortune!

polynesia

legendary

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Quote from: Asrael999 on April 15, 2014, 10:29:18 AM

you don't think they just maybe expand their existing system
https://www.facebook.com/giftcards

facebook credits......

this is bitcoin competition , not adoption , sorry

Of course, bitcoin adoption on a large scale would benefit the Winklewoss twins. Grin

ShakyhandsBTCer

sr. member

Activity: 448

Merit: 250

It's Money 2.0| It’s gold for nerds | It's Bitcoin

Yea, I would not trust Facebook with my money/bitcoin/alt(shit)coin.

They have terrible privacy policies and have not been good in the past of telling people as to what they plan on doing with the information they collect about their user base, nor what they even collect about their users.

Bit_Happy

legendary

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A Great Time to Start Something!

Quote from: counter on April 15, 2014, 04:40:40 PM

If facebook did something silly like make an altcoin I think that would just give more credibility to BTC and would backfire. I don't think that would be there plan but maybe I've over looked somthing.

Thanks for the Article OP, always appreciated.

Haven't you heard about FaceCoin?
It's official now: Cheesy

Topic: Facebook Bank - page 2. (Read 10091 times)