Facebook plans to launch 'GlobalCoin' currency in 2020 - page 7.

7788bitcoin

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Quote from: Krislaw on May 27, 2019, 09:18:01 PM

this is good for knowledge people who don't know cryptocurrency.

Facebook are hugh social media when people on the world joined and can learning what cryptocurrency. can be famous on future

People who are not interested in knowing about the new market will not join the facebook journey too unless they come up with better user interface which will be easier for anyone to use and have some incentives to start using it, if not it will be a centralized platform which they can use as a tipping service i guess, not sure what they are planning to do with it and their target audience.

exstasie

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Quote from: avikz on May 27, 2019, 12:40:54 PM

I am not against any development, but let me explain why this Facebook coin is not good for the cryptocurrency community,

1. Centralized: Facebook is working on a virtual currency and not cryptocurrency. It will be a centralized coin where Facebook will have full control.

2. Non - Anonymous: even though bitcoin ia not fully anonymous, that's why we often call bitcoin as a pseudo anonymous coin. But Facebook coin will be strictly a non-anonymous coin because they will have to comply with various legal restrictions.

3. Limited usability: the Facebook coin will have limited usability. There coin will be used within the Facebook network only.

It looks like it will be used outside the Facebook network. Issuance and redemption will obviously be centralized just like with Tether or the Gemini Dollar, but they are in discussions with Coinbase and Gemini so they can list markets for GlobalCoin. So obviously people will be able to transact outside of Facebook.

So the big question is, do they plan to launch their stablecoin on a decentralized network like Bitcoin or Ethereum? Or a completely private, permissioned network validated by Facebook?

Bitum

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This news is already a few weeks old. There was already here on the forum scammer who want to take advantage of it)
In any case, that's positive news. The world will come one step closer to the crypt world. And that is great

2chase

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So far, nothing is clear about what exactly Mark Zuckerberg was thinking, because too little information now exists on this set. Without a doubt, he will try to create an analogue of Bitcoin within his network. But whether this will be known only after a while. I think in a month or two we will have much more information about this.

Vishnu.Reang

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As far as I know, this "Globalcoin" is just a digital version of fiat currency (or stablecoin) just like Tether or TrueUSD. It can't be classified as a crypto-currency, because the value is pegged against the United States Dollar, and the currency is not decentralized. I don't think that it will create any impact upon the cryptocurrency market.

Bezobraznike

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Quote from: cryptjh on May 27, 2019, 09:01:34 AM

This is great news for the whole crypto community, hundreds of millions of Facebook users will now see how crypto payment works, after some time some of them will also thinking that they need the real thing and then the interest for bitcoins will most likely skyrocket in the years to come!

Everything sounds magical and your words that such move can push bitcoin higher absolutely have sense.
But I doubt that crypto payments on Facebook or other functions with crypto will be allowed all world wide.
Do not forget that the head of the company in the USA and we know how they behave with some other countries.

angel55

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Quote from: imstillthebest on May 28, 2019, 09:10:03 AM

Quote from: indrakusumaindra on May 28, 2019, 08:45:00 AM

[quote author=trickbdpro
I pdo think it would be huge cause facebook are behind it but still, can we trust coin that are made by facebook? I think facebook are a bad company that use our personal data for their own good.

The issue of facebook collecting our data is an old issue and i think its normal because its a social media and we do need to provide our correct info so that other people can connect with us . the facebook issue has nothing to do with thier own coin because what people will be concern of is if the coin is profitable and will be really useful inside and outside the fb platform

Most people don't even care if their data is collected and I kind of see their point. You are shown advertisements that you are likely to buy. Ads can be invasive but are also very helpful to inform us about new products or services that we are interested that otherwise we would have never of heard of.

DaCryptoRaccoon

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And they did so well at collecting and harvesting data on everyone I can't see any issues with them throwing a "global coin" into the mix.
Why has facebook not died yet or is it too late to save those down that rabbit hole.

imstillthebest

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Quote from: indrakusumaindra on May 28, 2019, 08:45:00 AM

[quote author=trickbdpro
I pdo think it would be huge cause facebook are behind it but still, can we trust coin that are made by facebook? I think facebook are a bad company that use our personal data for their own good.

The issue of facebook collecting our data is an old issue and i think its normal because its a social media and we do need to provide our correct info so that other people can connect with us . the facebook issue has nothing to do with thier own coin because what people will be concern of is if the coin is profitable and will be really useful inside and outside the fb platform

indrakusumaindra

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Quote from: trickbdpro on May 27, 2019, 05:05:38 AM

I am Just see a news.
And i am existing for it.
Facebook like to launch a cryptocurrency!

I think this project successful easily. Becuse, Facebook is most public social site. Many many people use Facebook for communication.

I see this news on: BBC News
Link: www.bbc.co.uk/news/amp/business-48383460

I do think it would be huge cause facebook are behind it but still, can we trust coin that are made by facebook? I think facebook are a bad company that use our personal data for their own good.

mitchr4

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Can't wait for Facebook coin to be listed on the market. I am a little curious about the price considering that Facebook is the most widely used Social Media many investors will interested in investing there. And it's also good to promote Cryptocurrency in the eyes of the world.

ryzaadit

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I believe it's just a stable coin using cryptocurrency technology for their own payment system just like "Facebook Credits". The implemented this currency only for their customer at Facebook not really impact at the cryptocurrency, They also need to consider the protector of their customer. The customer will not want their money fluctuations because not all people using cryptocurrency.

smyslov

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Quote from: trickbdpro on May 27, 2019, 05:05:38 AM

I am Just see a news.
And i am existing for it.
Facebook like to launch a cryptocurrency!

I think this project successful easily. Becuse, Facebook is most public social site. Many many people use Facebook for communication.

I see this news on: BBC News
Link: www.bbc.co.uk/news/amp/business-48383460

I don't know how many threads are already created about this Facebook coin, it is not yet launched but it's getting a lot of hype here, in preparation for its grand launching, this is the biggest hype so far I've encountered I'm not yet active when held their ICO so I'm looking to be part of this project.

freedomgo

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We can already expect a success on that, facebook is a reputable company and they surely have big investors for that coin before it will launch.
What we can do now, is just to watch and see and speculate on the possible effect on the market so we can also take the opportunity to invest in the present listed coins in the market.

juperos

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Quote from: trickbdpro on May 27, 2019, 05:05:38 AM

I am Just see a news.
And i am existing for it.
Facebook like to launch a cryptocurrency!

I think this project successful easily. Becuse, Facebook is most public social site. Many many people use Facebook for communication.

I see this news on: BBC News
Link: www.bbc.co.uk/news/amp/business-48383460

The launch of Facebook coins is a very interesting thing and we will see the strategy of Facebook in the future. As of now, Facebook is the first technology enterprise to announce that it will launch in the crypto market and those who go ahead will often get the best reward.
At the moment, I think the people of the United States should buy more Facebook class A shares. Cheesy

almightyruler

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Is this just Facebook Credits 2.0 with the buzzword "crypto" added?

Will you actually be able to externally store, transfer, and trade them?

fauzan Ichsan

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Quote from: Krislaw on May 27, 2019, 09:18:01 PM

this is good for knowledge people who don't know cryptocurrency.

Facebook are hugh social media when people on the world joined and can learning what cryptocurrency. can be famous on future

right, with Facebook issuing globalcoin, it will certainly accelerate cryptocurrency promotion throughout the world. We know that Facebook is the most widely used social media by people throughout the world. so that it will have a big impact

Krislaw

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this is good for knowledge people who don't know cryptocurrency.

Facebook are hugh social media when people on the world joined and can learning what cryptocurrency. can be famous on future

almightyruler

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Hmmm, interesting. There's already a cryptocurrency named Globalcoin... although it's barely alive.

Facebook already knows everything about you, so what's the harm in sending them extra personal documents to satisfy KYC requirements? Roll Eyes

joinfree

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yeah i heard about the news quite recently and i am quite surprised that the very same people who spoke against crypto are now thinking again. I am sure Zuckerberg has realized the potential of the blockchain technology and also the use of cryptocurrencies and now wants to implement some on his social platform.

Well he should be careful in developing a nice token economics because most projects became unsuccessful due to poor token economics.

Topic: Facebook plans to launch 'GlobalCoin' currency in 2020 - page 7. (Read 1325 times)