Facebook Diem on the run for launch - page 2.

tyz

legendary

Activity: 3360

Merit: 1533

Quote from: Quidat on December 31, 2021, 02:35:45 AM

Quote from: ?? on ??

I think that facebook libra or anything that won't occur at any point in the near future. Individuals expect that it will occur yet I accept that it won't occur by any means

Its already Metaverse.

But could we really assure that it wont end on the same fate.
https://coinyuppie.com/will-facebooks-metaverse-end-up-the-same-as-libra/

I dont really expect that much about development on this.

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.

so98nn

hero member

Activity: 2086

Merit: 603

Quote from: Husires on October 18, 2021, 06:04:34 AM

I do not think that Facebook in its best condition to start a new war, which is launching a digital currency and urging its huge community to do so. There are many problems they face:

Cambridge Analytica scandal and privacy protection.
Data manipulation and extremist content control scandal.
Problems of monopoly and their possession of evidence bases.
Privacy issues in WhatsApp.
The recent problems that led to the freezing of all its applications for more than 4 hours.

the society is now not ready to launch digital currencies or start spending, especially with supply chain problems.

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).

SquallLeonhart

legendary

Activity: 2394

Merit: 1101

Quote from: eaLiTy on January 22, 2022, 03:35:58 PM

I am expecting the same fate as Libra simply because of how they dealt with the user data earlier and with Metaverse you cannot trust them that they will be taking care of the data they are collecting including facial recognition which is a real concern and i am sure there will be opposition regarding this and how they are going to implement the metaverse is a big question.

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. So, I’m not really going to blame them in this, because everything that happened was because of the challenges they had. 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.

Metaverse is a huge trend this year, but I can’t really tell you that it is going to be the same in the future, maybe if they can continue to make updates that would interest users and keep them attached to the platform, it will continue to be a success.

Mauser

hero member

Activity: 1694

Merit: 516

I don't really see how the Facebook crypto coin is going to fake over the crypto world. Facebook or better Meta controls the majority of social media, with Instagram, WhatsApp and Facebook. There is already so much information bundled into one company. Why would people now also rely on that for their financial informations? For me crypto currencies means independence and having more control. Going with Facebook doesn't really over that for me. And everybody who thinks that Zuckerberg is trying to make the world a better place should watch the Facebook movie. It's all about making money.

eaLiTy

hero member

Activity: 2814

Merit: 911

Have Fun )@@( Stay Safe

Quote from: Quidat on December 31, 2021, 02:35:45 AM

Its already Metaverse.
But could we really assure that it wont end on the same fate.
https://coinyuppie.com/will-facebooks-metaverse-end-up-the-same-as-libra/
I dont really expect that much about development on this.

I am expecting the same fate as Libra simply because of how they dealt with the user data earlier and with Metaverse you cannot trust them that they will be taking care of the data they are collecting including facial recognition which is a real concern and i am sure there will be opposition regarding this and how they are going to implement the metaverse is a big question.

Ozero

full member

Activity: 2142

Merit: 181

Regulators want Libra/Diem stablecoin to have nothing to do with Facebook in the first place. Zuckerberg has already given up on backing his stablecoin with a basket of government currencies and securities, as originally planned. At this stage, Libra/Diem will only be backed by the dollar. If it is not already linked to Facebook, then this stablecoin will no longer be of interest to users. After all, it will be no different from many other stablecoins backed by the dollar. That's why it hasn't been on the market for so long. Zuckerberg had too ambitious plans, so the states single-handedly stood in the way of their implementation.

Quidat

hero member

Activity: 2548

Merit: 533

"CoinPoker.com"

Quote from: ?? on ??

I think that facebook libra or anything that won't occur at any point in the near future. Individuals expect that it will occur yet I accept that it won't occur by any means

Its already Metaverse.

But could we really assure that it wont end on the same fate.
https://coinyuppie.com/will-facebooks-metaverse-end-up-the-same-as-libra/

I dont really expect that much about development on this.

habebe

newbie

Activity: 98

Merit: 0

imagine that we can say that the whole situation involving Facebook’s crypto currency is an endless moving, for the fast few years it has been known and until now it has not been launched. Occasionally this changes, ending in a delay in their crypto currency development.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: Ozero on December 24, 2021, 03:08:59 AM

Zuckerberg has long squandered time to launch his stablecoin. A few years ago maybe Libra / Diem would have been a big project. Now, the dollar-backed stablecoin should come as no surprise. There are already a lot of such coins. As conceived by Zuckerberg, the enormity of the project was given by the linking of this coin to Facebook. But the regulators have not given him the opportunity to carry out his plans for a long time. They will continue to block the appearance and circulation of this coin, if it is somehow connected with Facebook.

If Zuckerberg really wants to launch Diem, all it has to do is meet with regulator's demands in order to reduce or minimize opposition as much as possible. I'm sure banks would love a piece of the pie if all goes accordingly as planned. I think what's stopping Diem from becoming a reality is the fierce competition in the crypto/Blockchain space. There are so many established projects which serve exactly the same purpose as Diem. With a plethora of stablecoins, and crypto payment processors, it'll be hard to imagine Diem staying afloat for a long time. Not to mention, Ripple's XRP Ledger is aiming to replace SWIFT with its high-performance "blockchain" network. Many banks have done partnerships with Ripple, so there's that.

The probability of Diem's launch is very low, so I'd focus more on decentralized cryptocurrencies since that's where the money is. We'll never know what Zuckerberg's plans are (especially with the announcement of Meta), so anything can happen in the future. Just my opinion

Ozero

full member

Activity: 2142

Merit: 181

Zuckerberg has long squandered time to launch his stablecoin. A few years ago maybe Libra / Diem would have been a big project. Now, the dollar-backed stablecoin should come as no surprise. There are already a lot of such coins. As conceived by Zuckerberg, the enormity of the project was given by the linking of this coin to Facebook. But the regulators have not given him the opportunity to carry out his plans for a long time. They will continue to block the appearance and circulation of this coin, if it is somehow connected with Facebook.

paxmao

legendary

Activity: 2310

Merit: 1598

Do not die for Putin

A sad manifest full of common places that only points to a coin controlled by what is probably, as of today, one of the most "evil" large corporations. All full of common places that are perfectly know to all that have been in crypto for a while.

The fact is that a coin created by Facebook ("Meta") is just not a true decentralised crypto and most likely will be used to create more big data on how user spend their money, to support political outcomes for a price, to invade privacy, to have teenagers working for mafias... I can only imagine what it can get to if they can convert a simple pic sharing platform in a political weapon for diffamation.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: Bitstar_coin on October 27, 2021, 10:54:20 AM

How does this benefit users of Facebook directly! Am still a little lost as the to importance of the Facebook diem and how it will be a positive thing for users, why is it so important for Facebook to have it's own coin, why can't mark just adopt one of the very many we have in the market, well I guess it is a good news for Facebook lovers (I.e if they understand the whole concept).

For more income/profits? What you think?

Generally speaking if they arent minding for more profits then they would just let those traditional currency which had been used internally on making transactions in facebook neither on some services or on between users.

They had made out a specific currency? Even if you dont need to mind off critically then you do already know on where it would be heading.,
Its no brainer that you wouldnt able to get on what they are aiming on.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: Argoo on November 06, 2021, 04:14:12 PM

Zuckerberg is not primarily concerned with banks. Banks are most worried about their profits. Zuckerberg should be wary of states and their regulators. Yes, he himself already knows this, but he constantly repeats the same mistakes. Governments fear the concentration of significant confidential information about the several billion Facebook members in private hands, and even more so if such information is combined with information about their financial transactions. Therefore, I do not think that Zuckerberg will succeed this time either.
Certain senators of the US Congress have already written to Zuckerberg to curtail the circulation of the Novi wallet, and in fact it does not even have his stablecoin Diem in it yet.

As long as there's money to be made, nothing else matters. All it takes is for Facebook to share profits with banks, and Diem's launch will become a big success. The hard part would be convincing regulators in order to keep the new digital currency afloat. Maybe Facebook will obtain a banking license to make Diem a reality? I wouldn't worry that much about Diem since it's a centralized coin after all. Using Diem would be no different than using an ordinary bank. Decentralized cryptocurrencies like Bitcoin and Ethereum are a much better option as they enable true financial freedom. People don't understand the true meaning of crypto because they're only focused on making as much money as possible. The moment they see a new coin being launched, they'll quickly pour their money into it without doing prior research. Facebook already has millions of users on its platform, so the new digital currency would probably gain all of the attention in the mainstream world. The future is widely unpredictable, so it's hard to tell whenever Diem will be a complete failure or a widespread success. Just my opinion

Argoo

full member

Activity: 2324

Merit: 243

Quote from: tyz on October 30, 2021, 06:55:02 AM

Quote from: Abiky on October 29, 2021, 07:01:43 PM

Banks won't allow that to happen. After all, banks consider Facebook's digital currency as a threat to their very existence.

That was my first thought, too. But then I remembered that exactly the same discussion took place a few years ago when it came to the integration of Apple Pay and Google Pay. Why should banks do that, it would jeopardize their own business model and cost returns? That was the statement of many at the time. Today, almost every bank has integrated Apple and Google payment options because they had to bow to pressure from customers and the market. It could be the same with Diem, if there is enough acceptance and demand among people.

Zuckerberg is not primarily concerned with banks. Banks are most worried about their profits. Zuckerberg should be wary of states and their regulators. Yes, he himself already knows this, but he constantly repeats the same mistakes. Governments fear the concentration of significant confidential information about the several billion Facebook members in private hands, and even more so if such information is combined with information about their financial transactions. Therefore, I do not think that Zuckerberg will succeed this time either.
Certain senators of the US Congress have already written to Zuckerberg to curtail the circulation of the Novi wallet, and in fact it does not even have his stablecoin Diem in it yet.

Quidat

hero member

Activity: 2548

Merit: 533

"CoinPoker.com"

Quote from: Abiky on November 04, 2021, 09:45:14 AM

Quote from: tyz on October 30, 2021, 06:55:02 AM

That was my first thought, too. But then I remembered that exactly the same discussion took place a few years ago when it came to the integration of Apple Pay and Google Pay. Why should banks do that, it would jeopardize their own business model and cost returns? That was the statement of many at the time. Today, almost every bank has integrated Apple and Google payment options because they had to bow to pressure from customers and the market. It could be the same with Diem, if there is enough acceptance and demand among people.

I'm pretty sure banks will support Diem if there was some sort of profit sharing. After all, they want a piece of the pie. Facebook will have no other option but to meet with governments' and banks' demands in order to launch its own digital currency. Believe me, Facebook's coin wouldn't make much of a difference since it's a centralized financial system. Most people will be foolish enough to believe Diem is decentralized, when that's not the case. Crypto/Blockchain tech is all about removing the middleman in order to bring financial freedom to the masses. You strip decentralization away from crypto and you'd get nothing more than a "glorified" banking system. I'd focus more on decentralized cryptocurrencies like Bitcoin and Ethereum since they're the ones that will change our world for the better. Just my thoughts Grin

For sure it would really that way and Facebook would totally be considering out on arranging everything just for everything to went smooth
and operational as a breeze.Government wont be seeing this a big threat though considering on how centralized Facebook is or whatever names they would be imposing on but still the very essence is really just the same.So i dont see this to be an issue for now.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: tyz on October 30, 2021, 06:55:02 AM

That was my first thought, too. But then I remembered that exactly the same discussion took place a few years ago when it came to the integration of Apple Pay and Google Pay. Why should banks do that, it would jeopardize their own business model and cost returns? That was the statement of many at the time. Today, almost every bank has integrated Apple and Google payment options because they had to bow to pressure from customers and the market. It could be the same with Diem, if there is enough acceptance and demand among people.

I'm pretty sure banks will support Diem if there was some sort of profit sharing. After all, they want a piece of the pie. Facebook will have no other option but to meet with governments' and banks' demands in order to launch its own digital currency. Believe me, Facebook's coin wouldn't make much of a difference since it's a centralized financial system. Most people will be foolish enough to believe Diem is decentralized, when that's not the case. Crypto/Blockchain tech is all about removing the middleman in order to bring financial freedom to the masses. You strip decentralization away from crypto and you'd get nothing more than a "glorified" banking system. I'd focus more on decentralized cryptocurrencies like Bitcoin and Ethereum since they're the ones that will change our world for the better. Just my thoughts Grin

beerlover

legendary

Activity: 2954

Merit: 1169

Quote from: tyz on October 30, 2021, 06:55:02 AM

Quote from: Abiky on October 29, 2021, 07:01:43 PM

Banks won't allow that to happen. After all, banks consider Facebook's digital currency as a threat to their very existence.

That was my first thought, too. But then I remembered that exactly the same discussion took place a few years ago when it came to the integration of Apple Pay and Google Pay. Why should banks do that, it would jeopardize their own business model and cost returns? That was the statement of many at the time. Today, almost every bank has integrated Apple and Google payment options because they had to bow to pressure from customers and the market. It could be the same with Diem, if there is enough acceptance and demand among people.

It is not up to banks to allow or not allow something like that. Crypto is a threat to their very existence as well but they couldn't stop it. If there is a money to be made they will jump in willingly, and if there isn't a money to be made then we are going to be fine anyway, it is going to be something of a challenge for a while but if we got crypto accepted then we are going to get facebook accepted as well.

All we need to do is pressure them by using it anyway, do it p2p if you want to first but as long as it grows big then we are going to be fine. All in all I have to say there is a good case for facebook diem or libra or whatever they name it could be seen as something that banks will eventually accept. On top of this, as long as facebook bribes the right people, then banks will not have any say in it, banks became this powerful by bribing anyway, so facebook could beat them in their own game.

Gyfts

legendary

Activity: 2828

Merit: 1514

Quote from: amishmanish on October 21, 2021, 10:16:09 AM

...

Facebook already has a platform to launch this crypto venture so I don't have any doubts that it'll be successful. The marketing of crypto to a bunch of clueless Facebook users could not be easier, they're naive, don't understand internet mechanism, and they'll want to invest in something modern, so they dump whatever funds into worthless NFTs or alts. While I agree Zuckerberg stole facebook from its original inventors, he's incredibly smart and this could be fairly successful if they can link it with the facebook userbase. The silver lining, hopefully it causes Jack Dorsey's "Square" to lose market share. Jack Dorsey is a moron.

tyz

legendary

Activity: 3360

Merit: 1533

Quote from: Abiky on October 29, 2021, 07:01:43 PM

Banks won't allow that to happen. After all, banks consider Facebook's digital currency as a threat to their very existence.

That was my first thought, too. But then I remembered that exactly the same discussion took place a few years ago when it came to the integration of Apple Pay and Google Pay. Why should banks do that, it would jeopardize their own business model and cost returns? That was the statement of many at the time. Today, almost every bank has integrated Apple and Google payment options because they had to bow to pressure from customers and the market. It could be the same with Diem, if there is enough acceptance and demand among people.

Fatunad

sr. member

Activity: 2226

Merit: 347

Quote from: Reatim on October 28, 2021, 12:46:38 AM

Quote from: electronicash on October 22, 2021, 09:56:54 AM

if facebook starts spreading the use of their own coin, users will also be introduced to BTC including the non belevers who constantly says BTC is a scam. i still think facebook can help the crypto market in general.

i have no idea what DIEM can do. they should have named the facebook token close to its name so so its easy to recognize. like Facepalm.

Believe this enough , Naming their coin close to Facebook will help us recognize the currency and also the whole world will.
and Facebook will Help promoting Bitcoin as well because they will represent cryptocurrency and who stands all crypto? it is BTC so in all it is Bitcoin will benefits from this release so Let it be.
Mark Zuckerberg might don't wanna late in profiting in the increasing crypto community but at least do this for all our benefits .

Facebook's new name is called META?

https://www.cnbc.com/2021/10/28/facebook-changes-company-name-to-meta.html
https://www.theverge.com/2021/10/28/22745234/facebook-new-name-meta-metaverse-zuckerberg-rebrand

Adding Diem as currency can be used inside platform.. So its Meta Diem, LOL!

Topic: Facebook Diem on the run for launch - page 2. (Read 639 times)