Facebook is raising money for Facebook Coin - page 12.

mrdeposit

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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...

And this name is enough to reach the desired position. In this case, everyone is looking for more profitable money and fbcoin began to look like one of them. Probably a new hype on the way.

magpie_lover

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

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

Decent article, but remember this is not the first time Facebook has come up with something like this - Think Facebook Credits. It was, basically, a failed experiment. This time their focus seems to be on the global remittance economy and this system would probably enable users to send money through Whatsapp & Messenger. But don't think this is going to be easy as most non-first world countries (recipients of highest remittances) have a huge money laundering problem & their regulators wouldn't want something like this happening on a massive scale.

Pet240

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This ought to have been done before this time, i do not know why it has taken Facebook such a long time, because people have been anticipating for it.
Then i do not expect the platform and neither do i expect the coin to be decentralized, rather it will be centralized considering its organization.

znation

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In the end, Facebook started to make their money, but I think Facebook is doing it a bit late for this money-making industry.

@baoli

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Base.protocol

This will be very good for Facebook having to tokenise their space. Facebook has improved over time especially the aspect of adding reward for posts. With a digital asset it will be easy to have a global outreach.

incomefromcoins

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Facebook is late in the cryptocurrency industry but when facebook start their own coin everybody speculating about their own mind on facebook coins future i personally feel facebook coin is just a centralised coin they are developing for their future

mindrust

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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...

lyhue

newbie

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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.

Topic: Facebook is raising money for Facebook Coin - page 12. (Read 1451 times)