Facebook is raising money for Facebook Coin - page 10.

rosezionjohn

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Quote from: Gabmot on April 09, 2019, 01:29:46 PM

Quote from: mindrust on April 09, 2019, 08:11:25 AM

Too late. They most likely missed the crypto train. Banning crypto ads and accounts damaged their reputation and it wasn't already in a good shape before it.

It will still create some hype however. It still has a name which is worth millions of dollars. Just a name...

Believe buddy, when i say this, what you mentioned above won't in anyway do any harm to facebook doing an ICO. In fact, it will instead increase the popularity of facebook all around places over the world.

I don't get this facebook popularity will increase even more if it will conduct an ICO. It's as if cryptocurrency investors are not yet aware of facebook. If anything, it's cryptocurrency whose popularity might increase because of this move by facebook.

pishite

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Another HYIP coin. Will most likely be binding to the dollar, will be a stable exchange rate. As for the solutions that she can decide, this is an opportunity to pay coins to all users of social network. Everyone will have their own wallet, which can be used without complicated manipulations. As for reliability unlike btc all bad, because the coin is controlled by the corporation and not by ordinary users and they can block transactions without problems.

Metall303

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Quote from: AgentZero23 on April 09, 2019, 02:05:48 PM

I don't know why Facebook need to raise money on their own coin if the have billions of dollars. If this indeed true and push through it could be the most valuable coin and have the most use case.

it can be the most useless coin ... any cryptocurrency that is limited by some kind of resource and can be replaced with any other currency is useless. The Facebook coin can be replaced by Ethereum or Bitcoin. so facebook coin is another empty coin for internal use.

AUruHM

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Quote from: lyhue on April 09, 2019, 08:09:16 AM

Yesterday I created a topic here about Facebook Coin: https://bitcointalk.org/index.php?topic=5129560.20

After that Nathaniel Popper, a NYTimes reporter that covers crypto, said Facebook is raising money for its crypto project. Seems like I may not be wrong in my article.
Here and here:
https://twitter.com/nathanielpopper/status/1115331482384388098
https://coingeek.com/facebook-seeks-1-billion-investment-from-vcs-for-its-crypto/

I can't see other reason for Facebook to be raising money if its not to back its own decentralized crypto. FB wouldn't need to raise to issue a stablecoin.
Everybody in the original topic said FBCoin couldn't replace bitcoin. While I agree that the ultimate store of value will remain BTC, I think FBCoin could easily surpass BTC in daily usage and, therefore, market cap.

I ran some numbers and I think its possible that FBCoin launches with around 300B USD market cap and reaches 1T in a few months. I'm comparing to HKD M0/M1 and HKMA's stability fund.
But I think FB should raise at least 10B to cover the initial stage of running a "sovereign" fund to stabilize the currency against extreme volatility, like I wrote in my article: https://medium.com/blockchain-positive/how-facebook-coin-can-help-billions-of-people-by-not-being-a-stablecoin-d780b6579e93

Brace yourselves, new times are coming.

One sentence - is FB don't have enough money that he should make fundraising? Is it true? Otherwise why they make this crowdfunding? Or they want to sell us their coin which will have made for our money? It's not clear for me absolutely. And I don't see on the tokenomics or same. But why?

Semosuchi Tesongrato

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Quote from: Brunus on April 09, 2019, 02:04:14 PM

It will be the end of the crypto! Sad

Facebookcoin will be sold as "the real deal", but for sure it will be fully centralized.
But people will believe to Zuckenberg...

Yes, this is what will happen. It's very sad.

AgentZero23

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I don't know why Facebook need to raise money on their own coin if the have billions of dollars. If this indeed true and push through it could be the most valuable coin and have the most use case.

DarkEagleMan

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In fact, Facebook is not even guaranteed to remain as the site of great popularity in which it has prevailed over a decade, because for the new generations this social network is already part of the past and are looking for and developing new and more attractive forms to interact with others. It is well known that Facebook and Twitter are coming down, while cryptocurrencies are rising.

Perhaps all this rumor is just a sign that Facebook is making efforts to delay his imminent death, although it seems to arrive too late to the issue of cryptocurrencies.

Brunus

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It will be the end of the crypto! Sad

Facebookcoin will be sold as "the real deal", but for sure it will be fully centralized.
But people will believe to Zuckenberg...

dvdrewritable

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I think FB coin will never be able to cross Bitcoin because there will be a position and there is no way to overcome Bitcoin yet. But the mother of the market is from Bitcoin since the day it started. So whether Bitcoin is more popular than FB coin. I think there is no coin to cross the Bitcoin. Whether Facebook is popular or not, FB coin can not even go near the side because it is too late, Facebook has come in a the crypto market.

jjbanks994

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Do we actually think it will be decentralized? If anything it will be a internal use of crypto imo or a stablecoin

asdlolciterquit

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Quote from: lyhue on April 09, 2019, 08:09:16 AM

Yesterday I created a topic here about Facebook Coin: https://bitcointalk.org/index.php?topic=5129560.20

After that Nathaniel Popper, a NYTimes reporter that covers crypto, said Facebook is raising money for its crypto project. Seems like I may not be wrong in my article.
Here and here:
https://twitter.com/nathanielpopper/status/1115331482384388098
https://coingeek.com/facebook-seeks-1-billion-investment-from-vcs-for-its-crypto/

I can't see other reason for Facebook to be raising money if its not to back its own decentralized crypto. FB wouldn't need to raise to issue a stablecoin.
Everybody in the original topic said FBCoin couldn't replace bitcoin. While I agree that the ultimate store of value will remain BTC, I think FBCoin could easily surpass BTC in daily usage and, therefore, market cap.

I ran some numbers and I think its possible that FBCoin launches with around 300B USD market cap and reaches 1T in a few months. I'm comparing to HKD M0/M1 and HKMA's stability fund.
But I think FB should raise at least 10B to cover the initial stage of running a "sovereign" fund to stabilize the currency against extreme volatility, like I wrote in my article: https://medium.com/blockchain-positive/how-facebook-coin-can-help-billions-of-people-by-not-being-a-stablecoin-d780b6579e93

Brace yourselves, new times are coming.

that number in my opinion are simply too high! 300 billion? 1 trillion? no way.
i have one big question for you: what's is the purpose of this facebook coin? why anyone should use it?

Gabmot

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Quote from: mindrust on April 09, 2019, 08:11:25 AM

Too late. They most likely missed the crypto train. Banning crypto ads and accounts damaged their reputation and it wasn't already in a good shape before it.

It will still create some hype however. It still has a name which is worth millions of dollars. Just a name...

Believe buddy, when i say this, what you mentioned above won't in anyway do any harm to facebook doing an ICO. In fact, it will instead increase the popularity of facebook all around places over the world.

CjMapope

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Quote from: kindbtc on April 09, 2019, 01:00:31 PM

I think fb has millions of dollars in daily ad revenue so does not make much sense to raise more funds for developing a coin for their platform, the reason may be that they just want to take their part of the ico pie and receive significant funds just like telegram did so looks like every one is jumping on board and this indicates the massive future ahead for crypto and blockchain tech.

ya telegram raised like 3 billion dollars or some shit
it was a crazy amount anyways
i bet FB was pissed when they saw that and now they want in on ICO craze

My problem i see is most people dont understand immutability, and especially since banks make it seem like when money gets stolen from you its just magically replaced in your bank : /

stoat

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facebook is a silly company run by a massive twerp called mark zuckerberg. i wouldnt touch any coin they issue with marks'.

facebook and everyone involved wih it can die in a fire and the world would be a better place for it.

doycku

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Quote from: kindbtc on April 09, 2019, 01:00:31 PM

I think fb has millions of dollars in daily ad revenue so does not make much sense to raise more funds for developing a coin for their platform, the reason may be that they just want to take their part of the ico pie and receive significant funds just like telegram did so looks like every one is jumping on board and this indicates the massive future ahead for crypto and blockchain tech.

Initially, I would like to know their real purpose, with which the facebookbook is trying to create his own personal coin. How they want to use the blockchain in this situation. If for providing better services and maintaining the confidentiality of all users. Well, then this is a serious argument. And if only to earn more money, then this is a very rash idea. TO

kindbtc

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I think fb has millions of dollars in daily ad revenue so does not make much sense to raise more funds for developing a coin for their platform, the reason may be that they just want to take their part of the ico pie and receive significant funds just like telegram did so looks like every one is jumping on board and this indicates the massive future ahead for crypto and blockchain tech.

amrulshare

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Quote from: mindrust on April 09, 2019, 08:11:25 AM

Too late. They most likely missed the crypto train. Banning crypto ads and accounts damaged their reputation and it wasn't already in a good shape before it.

It will still create some hype however. It still has a name which is worth millions of dollars. Just a name...

it's not true that Facebook is late into the crypto industry, in fact the social platform is most widely used in daily life. This does not rule out the possibility that Facebook cryptocurrency will get popular after bitcoin with the magic touch they apply later.

pandanaran

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Quote from: Boombull on April 09, 2019, 12:14:10 PM

If this is true because am yet to read about it in any mainstream media, then it is a good omen for the industry and it will benefit the entire industry and change the image of cryptocurrency globally and increase wider adoption of it.

That's right what you say because the main goal is to build a useful and mutually beneficial industry. Maybe when compared to Bitcoin it's much different for its marketing capacity, but I'm sure something new must have different or better advantages. I strongly support the hard work of people in building something well-intentioned like Facebook that makes its own Cryptocurrency.

Little Mouse

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Quote from: The Cryptovator on April 09, 2019, 11:30:24 AM

Perhaps FBcoin will surpass bitcoin for daily uses. But I don't believe it would be surpass by value. It might not happen what we are expecting.

If FBcoin can manage to be used as the most widely daily used coin, it will be a matter of time to surpass bitcoin because bitcoin is now mostly hyped because of investment, on the other hand, FBcoin will have the usage along with heavily invested coin since it is backed by Facebook, a giant in the tech area.

boltz

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Yes yes I heard this aswell but I in my opinion their action is coming too late. I'm curious tho of how will they promote Facebook Coin and what purpose does it serve because if it is only for facebook then it has no real use outside it. Facebook must think well before they will release all the info about the project.

Topic: Facebook is raising money for Facebook Coin - page 10. (Read 1451 times)