Facebook Diem on the run for launch | Bitcointalksearch.org

Mahanton

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Quote from: Renampun on April 21, 2022, 09:54:28 AM

Quote from: Pejoh Asu on April 20, 2022, 12:33:56 AM

We always wait for big global companies like Facebook, Google, or twitter to release new crypto soon, I'm sure they have a team of analysts who will determine the long-term policy of accepting crypto or not, but I'm optimistic that with the crypto community that continues to grow rapidly it will make them immediately make coins to facilitate transaction systems such as ad payments.

for Twitter, I'm not sure they will issue their own token...

since the founder of Twitter (jack) focused on developing the lighting network, I suspect he will never make a new token that will be the opposite of bitcoin but Facebook has long announced they will issue their token (which is still not circulating). offend google. It seems that there will never be tokens issued by Google, because for what else are they issuing own token, they have become a big platform.

We know that FB is really that focus on that MEtaverse
https://observer.com/2022/04/facebook-to-metaverse-creators-half-of-that-coin-is-ours/

We dont know about Diem or coin attached to it since its really still not be seen in terms of circulation or something.
We dont see for Twitter to be that interested on making their own but instead might have possibilities on integrating existing coins in the market.

Renampun

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Quote from: Pejoh Asu on April 20, 2022, 12:33:56 AM

We always wait for big global companies like Facebook, Google, or twitter to release new crypto soon, I'm sure they have a team of analysts who will determine the long-term policy of accepting crypto or not, but I'm optimistic that with the crypto community that continues to grow rapidly it will make them immediately make coins to facilitate transaction systems such as ad payments.

for Twitter, I'm not sure they will issue their own token...

since the founder of Twitter (jack) focused on developing the lighting network, I suspect he will never make a new token that will be the opposite of bitcoin but Facebook has long announced they will issue their token (which is still not circulating). offend google. It seems that there will never be tokens issued by Google, because for what else are they issuing own token, they have become a big platform.

Lubang Bawah

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with the reputation and the largest number of social media users today, of course Facebook has many advantages if you immediately make your own coins, I'm sure it won't take long for Facebook coins to be ranked in the top 10, unfortunately until now I haven't received official confirmation from Facebook to make coins immediately.

SaveOurSea

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Quote from: Pejoh Asu on April 20, 2022, 12:33:56 AM

We always wait for big global companies like Facebook, Google, or twitter to release new crypto soon, I'm sure they have a team of analysts who will determine the long-term policy of accepting crypto or not, but I'm optimistic that with the crypto community that continues to grow rapidly it will make them immediately make coins to facilitate transaction systems such as ad payments.

Seeing the development of cryptocurrency so far which is growing rapidly I think it's just a matter of time for the big companies Google or the ones you mentioned above to make coins,
Moreover, cryptocurrencies will not stop here in their development because every year crypto continues to be big,
The important thing is to keep up with the progress

breathlessz

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Quote from: Pejoh Asu on April 20, 2022, 12:33:56 AM

We always wait for big global companies like Facebook, Google, or twitter to release new crypto soon, I'm sure they have a team of analysts who will determine the long-term policy of accepting crypto or not, but I'm optimistic that with the crypto community that continues to grow rapidly it will make them immediately make coins to facilitate transaction systems such as ad payments.

I think creating the token itself is necessary for such a big company. but until now it has not been done, in my opinion there must be something that makes the situation and conditions not possible. on the other hand, they already have a clear product, it is already running, so it is not difficult for them to develop their own token. while there are many new projects where the product is questioned to analyze whether the project is good or not

Pejoh Asu

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We always wait for big global companies like Facebook, Google, or twitter to release new crypto soon, I'm sure they have a team of analysts who will determine the long-term policy of accepting crypto or not, but I'm optimistic that with the crypto community that continues to grow rapidly it will make them immediately make coins to facilitate transaction systems such as ad payments.

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Quote from: Dunamisx on February 01, 2022, 10:46:13 AM

It is no more a new that Facebook Diem project already have been acquired by Silvergate Capital Corporation. Thks ks as a result of several attempt to launch the stablecoin but in which all efforts seem futile after it initial failed Libra project, Diem was unsuccessful due to regulators challenges.

The project now has been acquired by Silvergate Capital Corporation and the state of agreement deal read as follows:

Quote

Under the acquisition agreement, Silvergate has issued 1,221,217 shares of Class A common stock to Diem and paid $50 million in cash. Based on the closing price of Silvergate Bank (NYSE: SI) on January 31, 2022, the aggregate value of the consideration was $182 million. Silvergate will also additionally pay approximately $30 million as integrating the acquired assets into Silvergate’s existing technology.
https://crypto-economy.com/diem-association-has-announced-the-sale-of-its-intellectual-property-and-other-assets/?utm_source=thecryptoapp

Diem is the second of Mark Zuckerberg's attempted failed project after Libra the first attempt, now all efforts and much concentration is on the metaverse in which seems to give a positive signal to derived a successful launch.

If facebook wasnt able to launch it successfully because of the government, what makes Silvergate think they can that they bought the Diem project? Are they backed by the government itself?

With Meta, I think facebook is ready to forget just about anything behind and just develop what they have right now for Metaverse. They are more than thankful for the government to have blocked Libra otherwise facebook is developing a worthless project.

Dunamisx

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It is no more a new that Facebook Diem project already have been acquired by Silvergate Capital Corporation. Thks ks as a result of several attempt to launch the stablecoin but in which all efforts seem futile after it initial failed Libra project, Diem was unsuccessful due to regulators challenges.

The project now has been acquired by Silvergate Capital Corporation and the state of agreement deal read as follows:

Quote

Under the acquisition agreement, Silvergate has issued 1,221,217 shares of Class A common stock to Diem and paid $50 million in cash. Based on the closing price of Silvergate Bank (NYSE: SI) on January 31, 2022, the aggregate value of the consideration was $182 million. Silvergate will also additionally pay approximately $30 million as integrating the acquired assets into Silvergate’s existing technology.
https://crypto-economy.com/diem-association-has-announced-the-sale-of-its-intellectual-property-and-other-assets/?utm_source=thecryptoapp

Diem is the second of Mark Zuckerberg's attempted failed project after Libra the first attempt, now all efforts and much concentration is on the metaverse in which seems to give a positive signal to derived a successful launch.

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Abiky

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Quote from: Ozero on January 30, 2022, 04:17:26 PM

Zuckerberg's ambitious Libra/Diem stablecoin project appears to be finally failing after three years of unsuccessful attempts to launch it. It can be argued that the regulators have achieved their goal. They did not allow the creation of an information and financial monster, which this project could become if the Facebook social network and the Libra stablecoin were connected. Without Facebook, the Libra/Diem stablecoin would be one of the many regular dollar-backed stablecoins that are already in abundance.
Now Zuckerberg is already thinking about how to sell his and unfinished creation at a higher price. You can read about it here:
https://cointelegraph.com/news/zuckerberg-s-diem-reportedly-weighing-sale-after-stablecoin-plans-falter

Facebook couldn't stand the pressure from regulators, so it didn't have any other choice but to give up on Diem/Libra. I think it's for the best, since Facebook is well-known to violate user's privacy. Imagine how disastrous Diem would've been if it became a reality. Facebook would've had complete control over people's finances. If the company really wanted to launch its own stablecoin without hurdles, then it would've used an existing blockchain like XRP or Stellar. The former is centralized and has the backing of regulators so it would've been the ideal platform for Diem.

Now that Facebook is out of the game for good, we're going to have to see how successful the launch of CBDCs (Central Bank Digital Currencies) will be. After all, not many people are used to making digital payments on a daily basis. Not to mention, some people are quite skeptical about government-backed digital currencies because of their lack of privacy. Facebook may be out, but perhaps another company will fulfill its vision (Ripple, maybe?). As long as decentralized cryptocurrencies exist, nothing else matters. Just my thoughts Grin

tippytoes

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Quote from: TribalBob on January 30, 2022, 04:59:43 PM

Quote from: Jawhead999 on October 19, 2021, 04:20:46 AM

Quote from: 20kevin20 on October 18, 2021, 06:20:20 PM

My two questions are.. does anyone even use Facebook anymore? I haven't checked it out in years and I feel better than ever before.

And then, how do people still trust them?

Most people were still using Facebook are matured or old, it's cringey to see the timeline are full load of birthday messages. However the rest shift to use Instagram as the UI is more modern.

Facebook, Instagram, Chrome, and Whatsapp doesn't care about privacy and they store any data your submitted to them. Using all of them are worse, they will know anything from you. Let's say you search "Cheese" on Facebook, don't surprised if you see Cheese ads on Instagram.

well because IG and FB can be connected because of one production maybe, so what we are looking for between one of them will definitely appear in one of them,
sometimes I can't understand why Mark has the ambition to have tokens for his platform, it's not efficient to pay through fiat only, and this will allow the legacy of his lovers

It is on you now what information you will share with these social media sites. But I believe Zuckerberg will not stop exploring the possibility of having their own coin in his social media platforms. A lot of people are still using like for example FB, younger generation that like to disclose all their activities to the public. He will always get good number of supporters because the platform itself has large audience.

TribalBob

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Quote from: Jawhead999 on October 19, 2021, 04:20:46 AM

Quote from: 20kevin20 on October 18, 2021, 06:20:20 PM

My two questions are.. does anyone even use Facebook anymore? I haven't checked it out in years and I feel better than ever before.

And then, how do people still trust them?

Most people were still using Facebook are matured or old, it's cringey to see the timeline are full load of birthday messages. However the rest shift to use Instagram as the UI is more modern.

Facebook, Instagram, Chrome, and Whatsapp doesn't care about privacy and they store any data your submitted to them. Using all of them are worse, they will know anything from you. Let's say you search "Cheese" on Facebook, don't surprised if you see Cheese ads on Instagram.

well because IG and FB can be connected because of one production maybe, so what we are looking for between one of them will definitely appear in one of them,
sometimes I can't understand why Mark has the ambition to have tokens for his platform, it's not efficient to pay through fiat only, and this will allow the legacy of his lovers

Ozero

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Quote from: el kaka22 on January 23, 2022, 12:44:07 PM

Quote from: SquallLeonhart on January 23, 2022, 06:39:39 AM

Although I know that it’s true Facebook usually have problems with handling of user’s data, let’s hope that they have learnt their lessons and would do better this time around in making sure that their users data is secured.

No one is talking about the Facebook Diem any longer, and I have even forgotten about it until I came across this topic again. Is the project still going to work out at all?

Now, Facebook seems to have moved on to some other projects, it’s quite possible that they are going to overlook the Libra/Diem project and focus mainly on metaverse which seems like it is going to be the next biggest thing that we will see. Unless maybe they will decide to launch this cryptocurrency later on, on their metaverse platform. We don’t know this yet and as time goes on we will all get know.

Zuckerberg's ambitious Libra/Diem stablecoin project appears to be finally failing after three years of unsuccessful attempts to launch it. It can be argued that the regulators have achieved their goal. They did not allow the creation of an information and financial monster, which this project could become if the Facebook social network and the Libra stablecoin were connected. Without Facebook, the Libra/Diem stablecoin would be one of the many regular dollar-backed stablecoins that are already in abundance.
Now Zuckerberg is already thinking about how to sell his and unfinished creation at a higher price. You can read about it here:
https://cointelegraph.com/news/zuckerberg-s-diem-reportedly-weighing-sale-after-stablecoin-plans-falter

savetheFORUM

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Quote from: Sithara007 on January 25, 2022, 11:34:32 PM

The approach taken by PayPal is entirely different from the one taken by Facebook. PayPal integrated the existing cryptocurrencies to it's platform in a mutually beneficial manner. However the idea from Facebook was to destroy and replace the original cryptocurrency by plagiarizing the idea from Satoshi Nakamoto. They wanted to come up with their own version of cryptocurrency. And quite predictably, PayPal benefitted from their attempt, while Facebook's idea failed even before it took off.

To destroy and to replace crypto? Oh my God, Mark why? Mark z has always been my idol because of what he went thru but I think not anymore after I know his real intentions for creating diem.

I idolize satoshi nakamoto more than him and I do not want btc to be destroyed just like that because of some greedy people. They already built a social media platform that is huge, why cant they be contented with that. For the case of paypal, it is okay if they will join the crypto game because paypal is already related to finances. There are crypto users who also uses paypal and vice versa. It will now be easier for them transact between platforms.

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Quote from: el kaka22 on January 23, 2022, 12:44:07 PM

No one is talking about the Facebook Diem any longer, and I have even forgotten about it until I came across this topic again. Is the project still going to work out at all?

Now, Facebook seems to have moved on to some other projects, it’s quite possible that they are going to overlook the Libra/Diem project and focus mainly on metaverse which seems like it is going to be the next biggest thing that we will see. Unless maybe they will decide to launch this cryptocurrency later on, on their metaverse platform. We don’t know this yet and as time goes on we will all get know.

I believe Facebook Diem is dead, just like it turned out to be the case with Libra. They couldn't stand the pressure from regulators and central banks, so the company decided to focus on other important things. If someday Facebook becomes successful in launching its own digital currency, then it's likely the new coin will be used for actions related to the "metaverse". People will get to buy, spend, and even send money to friends with ease all within a single, unified platform. The new digital currency backed by Facebook will be utterly-centralized, but the public won't care as long as there's money to be made. There won't be any difference between Diem/Libra and today's banks, though.

Ultimately, it's all about decentralization for crypto/Blockchain tech to bring "banking to the unbanked". As long as decentralization prevails, nothing else matters. Just my thoughts Grin

Sithara007

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Quote from: tyz on January 23, 2022, 08:49:38 AM

Facebook has lost its chance with Libra for now. I think Libra will only play a role in the metaverse, and that can still take a few years to develop to this extend that Libra will play a major role. I rather believe that Paypal will launch the first fiat money backed "cryptocurrency" and become successful with it. Paypal has already announced this indirectly and I think they have learned from Facebook's mistakes.

The approach taken by PayPal is entirely different from the one taken by Facebook. PayPal integrated the existing cryptocurrencies to it's platform in a mutually beneficial manner. However the idea from Facebook was to destroy and replace the original cryptocurrency by plagiarizing the idea from Satoshi Nakamoto. They wanted to come up with their own version of cryptocurrency. And quite predictably, PayPal benefitted from their attempt, while Facebook's idea failed even before it took off.

The Sceptical Chymist

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Quote from: SquallLeonhart on January 23, 2022, 06:39:39 AM

In the case of Libra, I think the challenge they had was with the government, and not truly because of them not being able to meet up with what is expected of them.

Of course it was the government--obviously if FB had its way, Libra would be a thing right now instead of something that just kind of quietly died.

Why in hell was this thread bumped, anyway? The bumper didn't really add much to this generally awful discussion except for a generic but lengthy shitpost. Anything that's going to happen with Facebook and crypto and/or the metaverse has yet to be seen, and speculating about a potential stablecoin with Facebook's brand stamped on it is even more pointless than speculating on the price of bitcoin.

Oh, they're called Meta now, I forgot. They should have just changed their name to Uni so that when they take over the metaverse space, they can just claim they own the Universe. Bunch of fucking sociopathic autists in motion.

sana54210

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Quote from: so98nn on January 23, 2022, 08:17:37 AM

If anyway somehow facebook manages to launch the Diem I dont think that its anyways different concept than what we have today?

Same over and over again, the payment system, self control, this governance that governance, I am really disappointed as to what is new in that one? I am simply happy with the way bitcoin is or any shit coin that offers me lightening transaction over blockchain.

If they gonna convince me that I will be able to use the Diem over real world applications or using the fb services then no thanks, it all got covered with the current projects (N-number of them).

It may not be too different, but it will be "by meta" written there, and that has a lot of value for many people. I know it doesn't make sense and I know it shouldn't matter but some people prefer it when it is from a gigantic corporation instead of some some regular company. I know that fundamentally nothing will change, and I know that the blockchain behind all of this will not be some huge new thing with bunch of new features but at the very least we will know that it is from facebook and mark and it would not be some scam that they will take our money and leave. That is basically the only thing that is guaranteed with something like this, rest are all the same.

el kaka22

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Quote from: SquallLeonhart on January 23, 2022, 06:39:39 AM

Although I know that it’s true Facebook usually have problems with handling of user’s data, let’s hope that they have learnt their lessons and would do better this time around in making sure that their users data is secured.

No one is talking about the Facebook Diem any longer, and I have even forgotten about it until I came across this topic again. Is the project still going to work out at all?

Now, Facebook seems to have moved on to some other projects, it’s quite possible that they are going to overlook the Libra/Diem project and focus mainly on metaverse which seems like it is going to be the next biggest thing that we will see. Unless maybe they will decide to launch this cryptocurrency later on, on their metaverse platform. We don’t know this yet and as time goes on we will all get know.

Topic: Facebook Diem on the run for launch (Read 639 times)